RG 1 04, Sequence 027
8NS-1 04-95-027, Annual Reports of the
Director of the Mint to Secretary of the
Treasure. 1907-1953 (82-006);
Miscellaneous Registers, Ledgers,
Letter Press Books and Other Bound
Volumes (1873-1975).
FY 2003
RG 104
US. Bureau of the Mint, Denver CO
Annual Reports from the Director to the
Secretary of the Treasury
1907-19
8NN-104-95-027 (old FRC# 104-82-006) Box 1 of 4
ANNUAL REPORT OF THE
Director of the Mint
FOR THE FISCAL YEAR
ENDED JUNE 30
1915
AND ALSO REPORT ON
The Production of the
Precious Metals
IN THE CALENDAR YEAR
1914
WASHINGTON
GOVERNMENT PRINTING OFFICE
1915
Treasury Department,
Document No. 2757.
Director of the Mint .
CONTENTS.
REPORT OF MINT OPERATIONS.
Operations of the mints and assay offices .
Stock of coin and bullion in United States .
Production of gold and silver, 1914 .
Industrial arts . .
Exports of gold coin . - .
Coinage for the Panama-Pacific Exposition .
Estimates for the fiscal year 1917 .
Appropriations, expenses, and income. . . - — - • .
Appropriation reimbursement, expenditures and balances .
Consolidated income and expenditure .
Gold-certificate bars .
Deposits of gold bullion...... - .
Deposits of foreign gold bullion and coin .
Deposits and purchases of silver — . .
Deposits of foreign silver bullion and coin .
me'taifordime.Jica^' PUiippinecoi^. .......
Distribution of minor coins and expenses ot..--.----- - - .
Minor coinage issued, minted, and amount outstanding .
Work of the Government refineries . .
Exchange of fin^gdTbars for gold coin and gold bullion . - ■
Mint at Philadelphia, operations . .
Mint at San Francisco, operations . ” * . .
Mint at Denver, operations . . .
Assay office at New York, operations . .
Assay office at Seattle, operations . .
Wastage and loss on sale of sweeps . .
Gain from operations. - - - - ■ ---- •:.■ . . . .
o^eipts and disposition of gold bullion . .
Rmnnage of uncurrent silver coins . .
United States gold in Canada. . . ••••:•• YmV . .
Monetary systems and approximate stocks, 1913 . - • • - .
Values of foreign coins. . . .
Appendix (tabulated data) . . . .
Monetary Ktksof fomi^i . . ”
Page.
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20, 21
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22
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58
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65
67
108
110
4
CONTENTS.
REPORT ON PRODUCTION OF THE PRECIOUS METALS.
Production and consumption of gold and silver in the United States during 1 a86‘
the calendar year 1914. . 6 inn
Approximate gold product . . 217
Approximate silver product . "!!!”" . 217
Dredge production since 1904 . . 220
Mine production since 1792 . i . . . . ' . . . . . 221
Gold and silver used in industrial arts in the United States during the calendar
year 1914. . . . . . 222
Exchange of fine-gold bars for gold coin and gold bullion . . . . 224
World s industrial consumption . . 004
Stock of money in the United States. . oon
The course of silver . . 2oX
Exports of silver bullion from the United States.’. . ooo
Exports of silver from London to the East. . . . 933
Gold and silver imported into and exported from British India . 234
Imports and exports of bullion into and from London . " . 235
Highest, lowest, and average price of bar silver in London since 1833 . 236
Commercial value of silver to gold since 1687 . . oo7
Deposits of gold and silver . . 940
Mutilated coins received for recoinage . 242
Assets and liabilities, mints and assay offices . 244
Imports and exports of bullion and coin. . . oIr
Coinage of United States, 1914 . . . 7,1$,
Producti011 of gold and silver in world,’ 1914” I !!!!!!’.!!’!!!.’ J !!!]*] ] . otl
world s production of gold and silver since 1860 . 977
Production of gold and silver in the world since discovery of America 97s
World s production by counties, 1913 and 1914 . . 90^
Gold and silver production and movement, 1914 . . 9oo
Some interesting gold statistics . .
Gold production of the world, 1913 . - - . 992
PART I.
REPORT OF THE DIRECTOR ON THE OPERATIONS OF THE
MINT SERVICE FOR THE FISCAL YEAR 1915.
REPORT
OF THE
DIRECTOR OF THE MIHT.
Treasury Department,
Bureau of the Mint,
Washington, D. C., November 1, 1915.
Sir: In compliance with the provisions of section 345, Revised
Statutes of the United States, I have the honor to submit herewith a
report covering the operations of the mints and assay offices of the
United States for the fiscal year ended June 30, 1915, being the forty-
third annual report of the Director of the Mint. There is also sub¬
mitted for publication in connection therewith the annual report of
this bureau upon the production and consumption of the precious
metals in the United States for the calendar year 1914.
OPERATIONS OF THE MINTS AND ASSAY OFFICES.
In many ways the fiscal year 1915 was the most eventful in the
history of the mint service; certainly it was as regards the New York
assay office and the San Francisco Mint. The movement of gold
from the United States in the first three months and the movement
of this metal to our shores in the last three months were on such a
tremendous scale that the patience, skill, and capacity of the officials
and employees at these institutions were sorely taxed. Since July
1, 1915, the volume of business has increased so steadily and so
rapidly that the records show the total value of the deposits at the
New York assay office for the first four months of the fiscal year
1916 to bo $126', 224, 600 or nearly that of the deposits for the wdiole
of 1908 — $131,792,227 — which has heretofore been this office’s banner
fiscal year.
The mint at San Francisco received between April 1 and November
1, 1915, more than $50,000,000 in foreign gold coin and bullion from
Australia, Japan, and China, as compared with $4,346,000 during
the entire calendar year 1914. _
Very little, comparatively speaking, of the foreign gold received
has been in fine bars. Much tho major portion has been in coin,
chiefly British sovereigns and Japanese yen, and the prompt melting
and storing of it have presented problems calling for extraordinary
energy and some ingenuity.
In order that no injustice might be worked to depositors of foreign
coin because of the delay incident to the melting and refining of it,
the regulations governing the handling of precious metals were so
modified, with your approval, as to permit the payment of 99 per
7
8
REPORT OP THE DIRECTOR OF THE MINT.
cent °f the value of said deposits, ascertained upon their being
weighed immediately after receipt, when presented in sums of
$1,000,000 and over. Of course such deposits come only from bank¬
ing houses of recognized standing, and when advantage is taken of
this regulation the depositor is required to give a guaranty in writing
of the integrity of the coin or bars involved.
The former regulation permitted advance payment of only 90 per
cent of the value ascertained when the deposit was weighed, 8 per
cent more after the trial assay, and the remaining 2 per cent fol¬
lowing the final assav. It can readily be seen how that regulation
would have operated against the depositor in the loss of interest
when several millions of dollars were involved in one transaction as
has so frequently been the case.
. Another important change which you authorized in the regulations
is the reporting by the assayer, on deposits of fine gold bars or coin,
m deposits of not less than 5,000 ounces, to one-tenth of one-thou¬
sandth instead of one-quarter of one-thousandth. I found that the
loss to the_ depositor on large deposits was frequently considerable,
so 1 had the honor to recommend to you what has proved to be a
most equitable arrangement.
A new regulation of importance to miners and prospectors is that
which you recently issued, upon my recommendation, reducing the
charge for ore assays at the minor assay offices and the Philadelphia
Mint from S3 for gold and sdver to SI for these metals and SI for each
of the following metals determined: Copper, tin, sine, iron, lead, and
tungsten. This has already resulted in a material increase if business
at the several institutions, has made the mint service more responsi™
to pubhc requirements and has been generally commended by thde
whose needs it is intended to meet. The minor assay offices should be
so operated as to make them as serviceable to the miner and pros
pector as the Department of Agriculture is to the farme^or thev
should be abolished Receiving, melting, assaying, and fomardini
bullion deposits only do not lustifv the exnendit!,™ ^rwardmg
necessary to their maintenance. 7 exPendlture of the money
It is an interesting fact that in the r>nst •
cuted for more foreign countries at the Philadelphia MbJFSfJT ^ GXe'
previous 12 months of that institution’s histL
were Cuba, Costa Rica, Salvador mid These countries
creased business may have been due to °f ^be *n~
Europe, whose mints a number of the I atinVAettle<* condl.tions in
long patronized, but all of it is business wSbj!UeriCa^ countnes have
Furthermore, it is evidence of i° continue*
?ountrt0t Paymen‘ WaS °Xtended & -~"itrote
preAdecC°ss!r in 1,1™ TT ?™*«ed by my
metal was so low in July, 1915, that I found°it npUU °f tllls Preci°us
with your approval, 4,375,000 ounces hi oider ?^17 to Purchase>
what was clearly to be— and in due timA , to be Prepared for
tU}±dcmmd for subsidiary coTns WI°v( to b*-an imprece-
$0.4963 an ounce or 2.005 cents above i Pnce paii was
average price paid was $0.48724 an ounce t'hoT111mm^.ura P»id. The
ounce. Lhe entire amount was
OPERATIONS OF THE MINT SERVICE.
9
bought between August 3 and September 17, and constituted the
largest purchase of silver made in a similar period since the repeal,
November 1, 1893, of the purchase clause of the act approved July
14, 1890. This transaction resulted in a goodly advance in the price
of the white metal, and so stimulated the market, whose unsteadi¬
ness had threatened a partial paralysis of the silver-mining indus¬
try all over the world, that production of silver has continued prac¬
tically without abatement. It also had the effect of aiding the
production of gold, inasmuch as all silver bullion carries a certain
amount of gold.
In commenting on this purchase the Boston News Bureau said:
These prices are much below those of a year ago, when the Director of the Mint
bought at a corresponding part of the year 1,774,000 fine ounces. For 200,000 ounces
of this, bought on July 31, a price of $0.5175 was paid; 200,000 ounces cost $0.5150
on August 7; 1,174,000 ounces were bought at $0.52 on August 11; and 200,000 ounces
at $0.55 on August 28, 1914.
A distinct achievement of the mint service in the fiscal year 1915
was the melting and spinning of platinum for use in the many Gov¬
ernment laboratories.
This metal is recovered in the electrolytic refineries only from the
various kinds of bullion deposited. The quantities contained in
individual deposits are very small; in practically every instance it
is too small to be detected in assaying, and we could not, therefore,
compensate the depositor for it, even if the law permitted payment
for other than the gold and silver contents of bullion. Furthermore,
as bullion of all classes is massed and melted before it passes through
the refinery, it would be impossible to determine what particular
class carries this metal. In rare cases, where it is evident that a
deposit contains platinum the depositor is so advised and is at
liberty to withdraw his deposit.
It has been the policy of the Government to sell this rare metal
from time to time to the highest bidder, but owing to the fact that
Russia, the largest producer of platinum, has curtailed its exporta¬
tion and thereby caused a marked advance in the price, I have
decided to hold so much of the metal recovered as shall be needed
for use in the laboratories of the several departments of the Govern¬
ment. *
During the past few months equipment has been placed in the
New York assay office for melting this metal and the mint at Phila¬
delphia has perfected machinery for spinning it and manufacturing
it into utensils used in the laboratories of the Government institutions.
I beg further to inform you that the work of this bureau has been
considerably simplified by the elimination of several forms calling
for reports that were found to be unnecessary or which duplicated
information contained in other reports; also that the cost report
system which has been in operation in the mints and in the assay
office at New York for several years has been so modified as to
remove all cumbersome features and yet bo productive of all infor-
mation necessary to economical and efficient administration.
I he following mint service institutions were operated during the
nscai year 1915: Coinage mints at Philadelphia, San Francisco, and
enver ; assay office at New York, which has a large trade in bars of
aru silver’ mints at New Orleans and Carson City, and
assay offices at Seattle, Boise, Helena, Salt Lake City, and Deadwood,
10
REPOET OF THE DIRECTOR OF THE MINT.
these being buUion-purchasing agencies for the large institutions.
Refineries were operated at the New York, Denver, and San Fran¬
cisco institutions.
The original deposits of gold at the mint service offices during the
fiscal year amounted to $166,175,438, an increase of $19,878,883 over
the deposits of last year.
The coinage of the year amounted to $46,086,458.90, of which
$40 533,317.50 was gold, $3,353,032.50 was silver, $1,718,776.95 was
nickel, and $481,331.95 was bronze. This amount includes $30,000
in $50 pieces, $25,000 in $2.50 pieces, and $5,500 in $1 gold pieces-
also $30,000 in silver half-dollar pieces struck at the San Francisco
mint for the Panama-Pacific International Exposition.
There were also coined at the Philadelpliia Mint 368,050 gold pieces
10,765,400 silver pieces, and 11,024,300 nickel pieces for Cuba: 5,000
gold pieces and 859,425 silver pieces for Costa Rica: 2,500,000 silver
pieces for Ecuador, and 9,208,000 nickel pieces for Salvador. The
mint at San rrancisco coined for the Philippine Islands 1,870 000
silver pieces and 500 bronze pieces.
4oT.o7 .°? Umted States coinage executed totaled
564.41, of which $1,862,088.97 was on subsidiary silver coins
and §1,825,475.44 was on minor coins.
CfJhe *mount of sUver .purchased during the fiscal year was 3,395 -
694 87 fine ounces costing $1,736,599.16, at an average price of 51
cents per ounce, fine. There were also received 491,021.14 firm
ounces of United States mutilated silver coins, valued at $678 792
and Philippine silver corns for rccoinage containing 136 247 17 fine
ounces at a cost value of $89,032.55. ’ /'1' nne
STOCK OF COIN AND BULLION IN THE UNITED STATES.
United
Kf Was sU™r doU^ *‘"d S183,3070374944wr8u8Sdiaanry
Hie stock of gold bullion in the mints and xi
6, SlnL®304'354'958’ “d thc s‘ock of sUver0btutnTase
PRODUCTION OF GOLD AND SILVER.
thJkcXn0ddarCy°rr°lf91h46 Fs^Tuow- u‘VoUnited States during
72,455,100 finl ounci Mlows: Gold *9-1,531,800, and aUvef
industrial arts.
The amount of gold consumed in fto mj,, , • ,
endar year 1914 was *42,728,893, of whfch” the
material. Silver consumed amounted to 29 was new
which 22,4/ 4, fine ounces was new material * ^*le ounces, of
Report Director of the Mint, 1915.
PLATE I.
V 2lwl5§E TWO-AND-A-HALF-DOLLAR gold piece.
?• 5|y,ES5E two-and-a-half-dollar gold piece.
?• ONE-DOLLAR GOLD PIECE.
t' ^dY/1511 one-dollar gold piece.
fi HAl-E-DOLLAR silver piece.
6. reverse half-dollar silver piece.
Report Director of the Mint, 1915.
PLATE II.
ECE
ECE
5. REVERSE ROUND FIFTyIdollar §8lB £|!gf-
OPERATIONS OF THE MINT SERVICE.
11
EXPORTS OF GOLD COIN.
The net exports of United States gold coin for the fiscal year 1915
were $23,445,028.
COINAGE FOR THE PANAMA-PACIFIC EXPOSITION.
The act of January 16, 1915, provides for the following coinage of
gold and silver pieces for the Panama-Pacific International Exposi¬
tion Co.:
Denomination.
Pieces.
Value.
3,000
$150,000
10,000
25,000
25,000
25,000
200,000
100,000
The act further provides that one-half of the $50 gold pieces struck
“ shall be similar in shape to the octagonal $50 gold pieces issued m
California in 1851.” . ,,
The design submitted by Mr. Robert Aitken for the $50 piece, that
by Mr. Charles Keck for the $1 piece, and those by Mr. Charles E.
Barber the engraver of the mint at Philadelphia, for the $2.50 gold
and the 50-cent silver pieces, were accepted by the Director ot the
Mint and approved by the Secretary of the Treasury.
Following is a description of the coins above referred to:
Fifty-dollar piece, weight 1 , 290 grains ,0 .900 fine. Obverse. Mineiva,
the goddess of wisdom, skill, contemplation, spinning, weaving, and
of agriculture and horticulture. Reverse: Owl, sacred to Minerva,
the accepted symbol of wisdom, perched upon a branch of western
pine. Dolphins, suggesting, as they encircle the central field, the
uninterrupted water route made possible by the Panama Canal,
Columbia, representing the United States, seated on the mythical sea
horse riding through the waters of the canal, with caduceus in grasp,
th^mblem of trade and commerce, inviting the nations of the world
: ' * tn0 ncw Wav from ocean to ocean. Reverse: American eagle,
S ™ Sd bearing the motto “E Pluribu, Unum.”
One-dolhr piece, weight 25.8 grmm, 0.900 fine.— Obverse: .Head,
Une-aoLui! y , » , whose efforts the Panama Canal became
a6?eraUty SlcVcrse: Wo^dolphins, indicating the meeting of the two
OCeFifty-cent piece, weight 192.9 graAm, 0.900 fcw.— Obverse: Colum¬
bia StSnf fruits and flowers, attendant wrUi cornucopia or hom
of plenty , to ftgnif y the boundless resources of the West Background,
Golden Gate mummed by the rays of the setting sun, with the inscrip¬
tion “Panama-Pacific Exposition, 1915. Reverse: Shield of the
United States surmounted by American eagle and supported on the
one side by a branch of oak, emblem of strength, and on the other
side by the olive branch of peace. The inscriptions are “United
12
report of the director of the mint.
w«&*>A“SriCa’” With Tal™ of “>0 «*. and the motto "In God
dies’ *“* wo
the first coinage of these niecos wn - A A' aR?isco, at which placo
end of the fiSl the
$50 gold pieces (octagonal) . Pieces.
$2.50 gold pieces . 609
$1 gold pieces . 10,000
50-cent silver pieces . 5,500
. 60,000
The $50 gold pieces were struck on the large medal press shinned
from the Phdadelphia Mint for this purpose. 1 PP
ESTIMATES FOR THE FISCAL YEAR 1917.
The total of estimates for the mint service for the fiscal year 1917
including the bureau office in Washington, is $1,160,480, which
compares with estimates of $1,177,580 for the fiscal year 1916 and
appropriations for the latter year of $1,136,180.
APPROPRIATIONS, EXPENSES, AND INCOME.
Amounts appropriated for the fiscal year 1915 totaled $1,147,771.68,
which, together with unexpended balances of permanent appropria¬
tions amounting to $12,700.13 and reimbursements within the service
and from other Government services of $161,604.17, aggregated an
avadable total of $1,322,075.98. 6
The total expenses chargeable to appropriations were $1,149,376.92;
those chargeable to income were $7,553.90; aggregate, $1,156,930.82.
The income, including $3,687,564.41 seigniorage realized by the
Treasury from the mint service, totaled $4,262,896.32.
Income and expenses are itemized below:
INCOME.
Mint charges on bullion. ....... . $340, 595 93
Proceeds of stock medals and proof coins sold . 3 539 35
Charges for manufacture of special medals . 9’ 924’ 90
Charges on foreign coinage executed . 143’ 999’ 97
Charges for work done for other institutions, etc . 5* 579. 54
Receipts from special assays of bullion and ores . 2 749 15
Surplus bullion recovered . . 49’ 296. 31
Gain on bullion shipments to refineries . $182. 30
Less contra losses . . 26. 37
- 155 93
Proceeds of proof gold and silver formerly on inventory . 1 660 73
Commission on telephone calls . ’ ’ 4’ 37
Proceeds of sale of old material . 727’ 27
Proceeds of sale of by-products . ’* 44^ 954' 20
Seigniorage of subsidiary silver coinage
Seigniorage on minor coinage — nickel. .
Seigniorage on minor coinage — bronze. .
Total
575, 331. 91
$1, 862, 088. 97
1, 409, 332. 91
416, 142. 53
- 3, 687, 564. 41
4, 262, 896. 32
OPERATIONS OF THE MINT SERVICE
13
EXPENSES.
Salaries of officers and clerks . $273, 859. 21
Wages of workmen . . . 618,320.64
Contingent expenses (including equipment), less amounts to reimburse
wastage and loss on sale of sweeps . . . 230, 789. 99
Wastage of operative departments (gold and silver) . 2, 758. 38
Loss on operative sweeps sold . . . 3, 955. 02
Freight on bullion and coin shipments between mints and assay offices. . 19, 693. 68
1, 149, 376. 92
Wastage of operative departments (minor metal)1 . 1, 072. 35
Expense of distributing minor coin 1 . 6, 481. 55
Total . . - -
Net income of the Government from the mint service
1, 156, 930. 82
3, 105, 965. 50
Total
4, 262, 896. 32
Appropriations, reimbursements, expenditures, and balances, all offices, fiscal year 1915.
Annual appropriations.
Perma¬
nent aD-
Items and offices.
Salaries.
Wages of
workman.
Contingent
expenses.
Freight
on bullion
and coin.
llvU t
propria-
tion
balances.2
Total,
Office of Director of the Mint:
Appropriated .
TTimcmHcwl _
$25,580.00
*23,558.87
$5,600.00
4,641.88
$20,000.00
<19,693.68
$51,180.00
47,894.43
Unexpended balance .
2,021.13
958. 12
306.32
3,285.57
Mint at Philadelphia:
Appropriated .
70,383.34
$300,000.00
108,613.47
65,000.00
44,288. 71
$4,873.24
440,256.58
152,902. 18
K Trnlloblo fnr nQA _ ....
70,383.34
68,889. 67
408,613.47
109,288. 71
4,873.24
593,158.76
igo con on
Expended .
295,348.69
88,291.84
(4, 865. 75)
Unexpended balance .
1,493.67
113,264.78
20,996.87
4,873.24
140,628.56
Mint at San Francisco:
Appropriated .
48,008.33
122,500.00
5,364.89
40,000.00
2,796.54
210,508.33
8,161.43
48,008.33
47,769. 45
127,864.89
119,356.06
49 706 64
218,669.76
Available for use .
I? vnan orl .
16, I JW. Ul
38,358.07
205,483.58
Unexpended balance .
Mint at Denver:
238.88
8,508.83
4,438.47
13, 186. 18
47,200.00
94,000.00
35,000.00
341.63
343.01
176,543.01
Appropriated .
341.63
47,200.00
46,888.17
94, 000. 00
92,266.27
35,341.63
34, 102.61
343.01
176,884.64
Available for use .
173,257.05
Unexpended balance .
Assay office at New York:
311.83
1,733.73
1,239.02
343.01
3,627.59
51, 100.00
80,000.00
30.75
60,000.00
17.60
7,483.88
198,583.88
48.35
. 51,100.00
. 50, 479. 72
80,030.75
80,011.11
60,017.60
59,231.86
7,483.88
1,093.25
198,632.23
Available for use .
190,815.94
Unexpended balance - -
Mint at New. Orleans:
620. 28
19.64
785. 74
6,390.63
7,816.29
5,600.00
5,350.00
Q AAA AA
13,950.00
o. InJU. LnJ
1,784.19
1, 215. 81
(715.85)
. 12,115.81
Apprupi latcu • •••••••••
5,050.00
5,281.62
1,834. 19
U nexpended balance .
550. 00
68. 38
\ ^new Denver mints; for equipment of assay office
at New York. ^ .ffienc
.t New York.
*$3,116.67 paid,
4 Chargeable, as
sTcliK fuFarOTth^toUio^-arious offices.
14
REPORT OF THE DIRECTOR OF THE MINT,
Appropriations, reimbursements, expenditures, and balances, all offices, fiscal year 1915 —
Continued.
Items and offices.
«
Annual appropriations.
Perma-
Total.
Salaries.
Wages of
workman.
Contingent
expenses.
Freight
on bullion
and coin.
• nent ap¬
propria¬
tion
balances.
Mint at Carson:
Appropriated .
$4,200.00
4,200.00
$2,000.00
1,999.97
$1,000.00
990.99
$7,200.00
7, 190.96
Expended .
Unexpended balance .
($397.98)
.03
9.01
9.04
Assay office at Helena:
Appropriated .
4,441.67
2,500.00
1,000.00
138.14
7,941.67
138. 14
Reimbursed .
Available for use .
Expended .
Unexpended balance .
4,441.67
4,400.00
2,500.00
2,500.00
1,138. 14
960.93
(630.16)
1 .
8,079. 81
7,860.93
41.67
177.21
218.88
Assav office at Boise:
Appropriated .
4,200.00
4,200.00
2,000.00
2,000.00
1,000.00
991.53
7,200.00
7,191.53
Expended .
Unexpended balance .
(997.41)
8.47
8.47
Assay office at Dead wood:
Appropriated .
4,041.67
2,000.00
8.80
500.00
3.64
====
6,541.67
12.44
Reimbursed .
Available for use .
Expended .
Unexpended balance .
4,041.67
4,000.00
2,008.80
1,935.84
503.64
498.09
(345.00)
6,554.11
6,433.93
41.67
72.96
. 5.55
120. 18
" Assay office at Seattle:
Appropriated .
Expended .
U nexpended balance .
Assay office at Salt Lake City:
Appropriated .
Expended .
♦Jnexpended balance .
Total, entire service:
Appropriated .
Reimbursed .
Available for use .
Expended .
Unexpended balance .
11,516.67
11,450.00
17,000.00
16,208.58
6,000.00
5,789.99
(11,685.51)
34,516.67
33,448.57
66.67
791.42
210.01
1,068. 10
3,050.00
2,973.33
2,000.00
1,412.50
1,000.00
768. 16
(56.02)
•
6,050.00
5,153.99
76.67
587.50
231.84
896.01
279,321.68
629,350.00
114,017.91
219, 100.00
47,586.26
20,000.00 !
512,700.13 :
1,160,471.81
161,604.17
279,321.68
273,859.21
743,367.91
618,320.64
266,686.26
236,410.14
20,000.00
19,693.68
12,700.13 1
1,093.25 ]
1,322,075.98
1,149,376.92
5,462.47
125,047.27
30,276. 12
306.32
11,606.88
172,699.06
CONSOLIDATED INCOME AND EXPENDITURES.
A complete statement of the income and expenditures of the
Treasury on account of the mint service, including seigniorage on
the silver and minor coins, is shown in the statement following.
Consolidated statement of income and expenditures
OPERATIONS OF THE MINT SERVICE.
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16
report of the director of the mint.
OPERATION'S OF THE MINT SERVICE.
17
GOLD-CERTIFICATE BARS.
At the close of the fiscal year 1915 refined gold bars, duly stamped
with their weight, fineness, and value, in accordance with the pro¬
visions of the act of Congress approved March 2, 1911, providing for
the issue of gold certificates against gold bullion and foreign gold
coin, were held at the several mints and the assay office at New York
as follows:
San Francisco Mint ....
Denver Mint .
New York Assay Office
$155,325,634.33
26, 152,624.80
62,230,129. 67
Total,
243,708,388.80
DEPOSITS OF GOLD BULLION.
The value of all gold bullion contained in original deposits at the
mints and assay offices during the fiscal year 1915 was $166,175,437.79.
The redeposits during the year, consisting of bullion transferred from
one office to another, and bars bearing the stamp of one of the mints
or assay offices, amounted to $65,270,187.22. The value of the gold
bullion and uncurrent domestic and foreign coin received, including
redeposits, amounted to $231,445,625.01, which was the total of
gold receipts at all offices.
Statements which show the classification of deposits, the source of
domestic bullion by States and Territories, and the receipts at the
several offices of the service appear in tabular form in this volume
elsewhere.
DEPOSITS OF FOREIGN GOLD BULLION AND COIN.
Foreign gold bullion containing 1,106,910 fine ounces, of the value
of $22,881,855, and foreign gold coin containing 745,955 fine ounces,
of the value of $15,420,256, were deposited, which was received
from the following countries:
Country.
Crude bullion.
Refined bullion.
Coin.
Fine
ounces.
Coining
value.
Fine
ounces.
Coining
value.
Fine
ounces.
Coining
value.
British Columbia
59,684
40, 150
348
273,627
254
38,916
71,713
238,495
6,936
261
306,450
537
$1,233,782
829,973
7,193
5,656,371
5,245
804, 474
1,482,435
4,930,137
143,385
5,395
6,334,877
11,092
10,993
$227,235
Yukon .
Northwest Territory
Ontario and Quebec.
Nova Scotia....
Mexico .
58,546
1,210,261
86,952
1,038
2,661
$1, 797, 446
21,460
55,008
Central America
South America .
West Indies .
Panama.. ..
China
Russia .
Great Britain . .
Germany . .
Spain .
Japan .
156
7,077
7, 158
5,575
628,934
1,195
126
119
153
4,811
3,232
146,299
147,963
115,253
13,001,220
24,704
2,591
2, 467
3, 162
99, 451
Turkey . .
Canada . .
Other countries . .
Mixed coin .
Total
1,037,371
21,444,359
69,539
1,437,496
745,955
15, 420,256
9760°— 1!
-2
18
REPORT OF THE DIRECTOR OF THE MINT.
DEPOSITS AND PURCHASES OF SHYER.
The deposits of silver at the mints and assay offices during the
fiscal year ended June 30, 1915, for return to depositors in fine or
unparted bars, with the weight and fineness stamped thereon, aggre¬
gated 3,949,845.48 fine ounces. The United States assay office at
New York received the greater part of these deposits.
The Government of the Philippine Islands deposited at the United
States mint at San Francisco, Philippine silver coins issued under
the act of March 2, 1903, containing 136,179 fine ounces, for recoinage
into coins of reduced weight and fineness as authorized bv the act of
June 23, 1906.
The purchases and deposits of silver bullion at the mints and
assay offices of the United States during the fiscal year 1915 were as
follows :
Items.
Fine ounces.
Cost.
Commercial bars purchased. .
Local purchases . . .
1,942,814.60
725,467. 93
196. 41
718,940.77
1,748.66
136, 179. 10
68.07
272.36
5, 130.25
1, 123. 89
3,949,845.48
$1,007,637. 10
363,708.72
94.28
360,623.33
875.09
88,892.35
37.98
319. 10
2,787. 42
554.12
1,990,851.90
Purchased from Salvador (remnants) .
Partings, charges, and fractions . .
Mutilated and uncurrent coin . * . . . .
Philippine coins for recomage .
Philippine assay coins . .
Domestic assay coins . .
Surplus bullion . .
Deposit melting room grains .
For return in fine bars .
Total .
■ " *
7, 481, 787. 52 3, 816, 381. 39
DEPOSITS OF FOREIGN SHVER BULLION AND COIN
Foreign silver bullion containing 2,130,138 fine ounces and foreio-n
countries" SSow^f 383'“45 °UnCeS W<S received from ™™us
Country.
Bullion.
Coin.
Crude.
Refined.
British Columbia.
Fine ozs.
36, 736
10, 124
30
53,237
23
1,733,975
82,589
156,390
746
60
6,088
212
Fine ozs.
49, 928
Fine ozs.
Ontario and Quebec . . _ . . .
Nova Scotia . . .
.
.
Central America. . .
190,774
South America. . .
West Indies . .
144,995
Panama . .
Germany . .
Mixed... . mm:::::::::::::::;:::;:: .
.
Total .
.
.
46,82i
2,080,210
49,928
383,445
OPERATIONS OF THE MINT SERVICE
19
COINAGE.
The domestic coinage
123,268,422 pieces, of the
during the fiscal year 1915 amounted to
value of $46,086,951.40, as follows:
Philadelphia.
San Francisco.
Denomination.
Pieces.
Value.
Pieces.
Value.
600
1,296,750
136,000
427,000
10,000
. . 5,566’
$30,000.00
25,935,000.00
1,360,000.00
2,135,000.00
25,000.00
. 5, '566.’ 66
Fifty-dollar pieces (octagonal) .
Quarter eagles . .
95,320 $
151,050
247, 125
"'240,' in' '
1,906,400.66
1,510,500.00
1,235,625.00
"666, 292." 50’ .
733,612
5,252,817.50
1,875,850
29,490,500.00
Silver:
60,000
984,000
420,000
1,820,000
30,000.00
492,000.00
105,000.00
182,000.00
32, 150
16,520,200
8,037,50
1,652,020.00
16,552,500
1,660, 132.50
3,284,000
809,000.00
Minor:
19,457,039
28,356,195
972.851.95
283.561.95
3,437,000
4,577,000
171,850.00
45,770.00
47,813,234
1,256,413.90
8,014,000
217,620.00
65,099,346
8,169,363.90
13, 173,850
30,517,120.00
Denomination.
Denver.
Total.
Pieces.
Value.
Pieces.
Value.
G01<Fifty-dollar pieces (octagonal) 1 .
600
1,392,070
630,550
921, 125
10,000
688,117
5,500
$30,000.00
27,841.400.00
6,305,500.00
4,605,625.00
25,000. 00
1,720,292.50
5,500.00
247,000
1,235,000.00
Dollars . . .
. 1,038,500
I 5,790,000.00
3,647,962
40,533,317.50
Silver: , .
60,000
30,000.00
681,275.00
398,737.50
2,243,020.00
Half dollars . .
Quarter dollars .
.. 1, 142, 80(
.. 4, 090, 00(
) 285,700.00
) 409,000.00
1,362,550
1,594,950
' 22,430,200
.. 5, 611, 20(
) 883,900.00
1 25,447,700
3,353,032.50
1 UU*1 v • •
Minor: , , .
Five-cent nickels .
.. 11,481,501
.. 15, 200, OCX
9 574,075.00
0 152,000.00
> 34,375,539
) 48, 133, 195
1,718,776.95
481,331.95
O ne-cent bronze .
.. 26,681,50'
0 726, 075. 0C
1 82,508,734
2,200, 108.90
A v LCv* * 1 *
Total coinage .
.. 33,331,20
0 7, 399, 975. 0(
) 111,604,396
46,086,458.90
proximate amount of copper used in the above coinages was 319 tons, of which 9 tons were used
in alloy mg gold 13111(1 11 tons ^ ^ky111^ silver, while 299 tons were used in minor coinage.
i rvkinod for PanamarPacific International Exposition under authority of Congress (Public No. 233, 63d
appr0V0(i Jan. 16, 1915. Assay pieces of Panama-Pacific Exposition, 9 $50 pieces and 17
quarter eagles omitted.
22
REPORT OF THE DIRECTOR OF THE MINT,
MINOR COINS OUTSTANDING.
The following statement shows the amount of coinage of minor
coins by denominations since 1793, the amount issued, on hand,
melted, and outstanding June 30, 1915:
D enoniinat ion.
Amount
coined.
Issued.
On hand.
Melted.
Outstanding
June 30, 1915.
Philadelphia:
Copper cents .
Copper half cents .
$1,562,887.44
39,926.11
2,007, 720.00
22,584,716. 67
912,020. 00
941,349. 48
40,873,204.35
$1,562,887.44
39,926.11
2,007,720.00
22,256,040.37
912,020.00
941,349. 48
39,883,991.25
$381,303.30
$1, 181,584. 14
39,926. 11
1,202,519.76
21,721,961.03
571,085.94
656,700.35
35,585,970.35
Copper-nickel cents .
Bronze 1-cent pieces .
Bronze 2-cent pieces .
Nickel 3-cent pieces .
Nickel 5-cent pieces .
Total .
San Francisco:
Copper cents .
$328,676.30
989,213.10
805,200.24
534,079.34
340,934.06
284,649. 13
4,298,020.90
68,921,824.05
67,603,934.65
1,317,889.40
6,644,186.97
60,959,747.68
5.05
6,267.63
11.52
13.80
7, 143.00
Bronze 1-cent pieces .
Bronze 2-cent pieces .
Nickel 3-cent pi<w??
404,800.00
325, 142. 85
79,657.15
318,875.22
Nickel 5-cent pieces .
Total .
Denver:
Bronze 1-cent pieces .
Nickel 5-cent pieces .
Total .
Grand total .
324,230.00
288,174.94
36,055.06
281,031.94
729,030.00
613,317.79
115,712.21
13,441.00
599,907. 16
545,870.00
1,472,425.00
411,540. 69
986, 780.00
134,329.31
485,645.00
1,400.00
31,700.00
410,140.69
955,080.00
2,018,295.00
1,398,320.69
619,974.31
33,100.00
1,365, 22a 69
71,669, 149.05
69,615,573. 13
2,053,575.92
6,690,727.97
62,924,875.53
igRtSS&T* °f °ld nUn0r melted at San Franci*» *** for the net amount outstanding,
thI^TfCnrTent min°r co>s melted at eacb mint are not necessarily
those of former comage of any particular mint. y
WORK OP THE GOVERNMENT REFINERIES.
?? <T °Pera4ed upon by the refineries connected with the
mints at San Francisco and Denver and the assay office at New
York during the fiscal year 1915, as foUows:
Institution.
Sent to refinery.
Returned from refinery.
Gold.
Silver.
Gold.
Silver.
San Francisco .
Denver . .
Fine ounces.
1,316, 108.282
1,396, 580. 513
2,822,787.565
Fine ounces.
364,838.07
1,169,114.45
3, 738, 366. 33
Fine ounces.
1,316, 147. 211
1,396,656.325
2,822,806.005
Fine ounces.
365,933.11
1,167,341.32
3,736,971.71
New York . .
Total
5, 535, 476. 360
5,272,318.85
5,535,009.541
5,270,246. 14
Institution.
Apparent gain.
Apparent loss.
Gold.
Silver.
Gold.
Silver.
San Francisco .
Denver . .
Fine ounces.
38.929
275. 812
18.440
Fine ounces.'
1,095.04
Fine ounces.
Fine ounces.
New York . .
i, 773. 13
1,394.62
Total
333.181
1,095.04
3,167.75
OPERATIONS OF THE MINT SERVICE
23
Bullion upon which charges were collected and bullion owned by the Government.
Institution.
Bullion upon which
charges for parting were
collected.
Bullion owned by the
Government retained
by the refinery for
parting purposes upon
which no charges were
imposed.
Total.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
San Francisco .
Fine ozs.
545,876.755
1,184,530.347
1,187,099.657
Fine ozs.
259.979.54
862,801.65
3,313,941.84
Fine ozs.
770,231.527
212,050. 166
1,635,687.908
Fine ozs.
104,858.53
306,312.80
424,424.49
Fine ozs.
1,316, 108.282
1,396,580.513
2,822,787.565
Fine ozs.
364,838.07
1,169,114.45
3,738,366.33
Denver .
New York .
Total .
, 2,917,506.759
4,436,723.03
2,617,969.601
835,595.82
5,535,476.360
5,272,318.85
BY-PRODUCTS OF REFINERIES.
Institution.
Platinum.
Palladium.
Iridium.
Osmiridium.
Copper.
San Francisco . .
Denver .
New York .
Ozs.
2 380.58
2 205. 49
41, 921 .01
Value.'
$14,081.46
6,575.68
72,020.68
Ozs.
2 17.50
2 16.09
^286.65
Value.1
$560.00
514.88
11,466.00
Ozs.
162.66
Value .'
$5, 100.00
Ozs.
4. 79
Value.'
$167.65
Pounds.
311,920.02
2 2,960.95
Value.'
$2,264.80
473. 75
Total .
2,507.08
92,677.82
320.24
12,540.88
102.00
5, 100.00
4. 79
167.65
14,880.97
2,738.55
' Approximate value only.
2 Refined.
* Includes 3,459.02 pounds, refined.
4 Includes 943.31 ounces, refined.
6 Includes 252.95 ounces, refined.
EXCHANGE OF FINE GOLD BARS FOR GOLD COIN AND GOLD BULLION.
The value of the fine gold bars exchanged for gold com and bul¬
lion monthly, by the United States Mint at Philadelphia and assay
office at New York for the fiscal year 1915 was as follows:
Exchanged for gold coin.
Exchanged for gold bullion.
Months.
Philadelphia.
New York.
Total.
Phila¬
delphia.
New York.
Total.
1914.
$3, 181,026.03
3,298, 245.50
3,566,2 68. 42
6,608,909.52
2,556,469.60
1,444,409.54
$3,181,026.03
3,298,245.50
3,566, 268. 42
6,608,909. 52
2,556,469.60
1,444,409.54
$21,460. 72
18,845.84
$316,367.59
439,510.33
$337,828.31
458,356.17
September .
15,559.93
26,330.21
18,697.43
26,273.26
595.741.18
733, 132. 17
552.373. 19
311,448.05
611,301.11
759,462. 38
571,070. 62
337,721.31
December .
1915.
3,526, 140. 45
3,526,140.45
29,824.06
269,654. 92
299,478.98
January .
1,583,840. 98
1,593,910.69
18, 728. 17
189, 384. 23
208,112. 40
February . .
65,382.92
2, 180,385.61
2,245,768.53
33,114. 69
255, 705. 81
288,820.50
March .
60,459.60
2,371,574. 74
2,432,034. 34
22, 154. 18
232, 642. 61
254, 796.79
April .
65,407.49
75,556.35
2,320,584.94
2,575,488.01
2,385,992. 43
2,651,044.36
25, 157. 82
18, 745.80
239,985. 91
167,622.04
265, 143. 73
186,367.84
J UUv • • • -
276,876.07
35,213,343.34
35,490,219.41
274,892.11
4,303,568.03
4,578,460. 14
A Owu .
24
REPORT OF THE DIRECTOR OF THE MINT.
MINT OF THE UNITED STATES AT PHILADELPHIA.
The mint was in operation throughout the year.
ASSAYING DEPARTMENT.
The operations of this department during the fiscal vear 1915 were
as follows: J
Item.
Samples operated on.
Gold.
Silver.
Gold and
silver.
Deposits .
4,421
297
561
2,051
2,067
Ingots . T .
.
^ li jpivo CUivl UlO aoouj O
173
34
43
62
128
14
Meltor’s bars. . .
Total .
.
.
4,718
4,679
454
The number of assays made was as follows :
Deposits (gold and silver) . 42 v\o
Ingots (gold and silver) . . b'
Purchases . . 9’ so?
Special assays . . '70 c
Melter’s bars . .
Ore assays . . qi
Coiner's bars . .
Mint Bureau . ’ . ^
8ewYo"!d.e.Partment . «
Superintendent . 40
Assay commission. . . 10Y
Sweep assays . .
Nickel and bronze . . 03
mS)6 average C0St per assay during the year
Total . 53,177
-s $0,686 (approxi-
oflS wieCmadeT0’ *“ °UnCeS °f Pr°°f g°ld <md 594 oun“s
Of the 297 melts of gold ingots made in the melting department
56 were returned for remelting, although within the standard fineness
required by law, to be thoroughly mixed Of the 2 Ool molk nf c 1
mgots, 1 was returned for remelting ' ° meltS °f Sllver
The fineness of the gold ingots passed was*
3 melts at .
9 melts at . .
31 melts at . .
31 melts at . .
83 melts at . .
36 melts at . .
36 melts at . .
11 melts at . .
l melt at . * —
241
900.4
900.3
900.2
900.1
900
899.9
899.8
899.7
899.6
The fineness of the silver ingots passed was:
9 melts at .
19 melts at...
337 melts at . .
475 melts at _
721 melts at .
297 melts at . .
134 melts at . .
51 melts at . .
7 molts at . .
898
898.25
898.50
898. 75
899
899.25
899.50
899. 75
900
2,050
MELTING AND REFINING DEPARTMENT.
during t.he fifcal year this department was in continuous ODeration
the silver-ingot operations covering the entire period fiSnlS
rou4ZtXe^arNTmber’ l9;4>
operations in February, working lightly in that month and” March!
OPERATIONS OF THE MINT SERVICE.
25
and closing with six working days in June. The nickel-alloy work
started in September and the department continued making ingots
of this alloy until settlement.
The number of ingot melts made and amount of metal sent to
melting rooms is shown by table given below:
Ingot melts made.
Metal.
Number
made.
Ounces melted.
297
2,051
1,759
3,821
851,077.254
7,529,811.53
6,323,517.99
11,223,553.56
Total .
7,928
25,927,960.334
During the fiscal year this department received from the superin¬
tendent gold bullion containing by assay 1,002,088.702 fine ounces,
having a coinage value of $20,715,011.93. The amount of silver bul¬
lion received contained 8,082,003.92 fine ounces, having a coinage
value of $11,172,633.73. . , . . .. .
This department returned to the superintendent the following
amounts in ingots: Gold, 679,714.290 fine ounces; silver, 7,392,554.91
fine ounces; nickel, 10,520,660.90 troy ounces; bronze, 6,085,890.20
troy ounces. , ,
Upon settlement of the accounts of this department there was iound
a gain of 295.794 fine ounces of gold, valued at $6,114.60, and 2,300.4 J
fine ounces of silver, valued at $3,180.22. In either case the surplus
appearing in settlement was readily and satisfactorily accounted lor
by considering special recoveries for the year and acknowledgmg iv ell-
known sources of gain.
Sweep-celler operations.
Department.
Number
barrels.
Net
weight.
Gold. '
Silver.
78
Pounds.
40, 436
Fine oz.
113. 622
Fine oz.
1,016.12
18
7
8,720
3, 638
82.020
11. 182
88. 97
108.20
206.824
1,213.29
Bronze recovered, 10,767 troy ounces; nickel recovered, 29,253 troy
?n the last vear’a report was noted the awarding of the contract
te the Selas Co. for their gas-boosting machine This system was
installed in duplicate and has been in successful operation for the
liast six months or more. These machines are operated alternately,
running each one week at the time. The principle of this system
consists in thoroughly mixing one part of gas (city gas) with three
parts of air (nonexplosive mixture). The gas is drawn in, likewise
the air, by the same positive-pressure blower of the involute type.
In passing through ports of fixed areas the gas and air always bear
the same proportion, which in our case is 3.1 to 1. After mingling,
26
REPORT OF THE DIRECTOR OF THE MINT.
the mixed gases, of definite and invariable composition, are com¬
pressed to 76-inch water column at machine and distributed to fur¬
naces. The volume of air necessary to complete combustion is
induced to flow through air shutters of Bunsen burners at furnaces.
Here the air may be controlled within a moderate amount and
normally no further adjustments are necessary, the gas valve being
fully open. With tills equipment it is no longer necessary to light
fires at 6 a. m. in order to produce three cupro-nickel heats by 3 p. m.
All fires are now started at 8 a. m., each melter attending to the
lighting up of his own furnace, which enables him to examine the
condition of his furnace and crucible in a more thorough manner than
when one man attends to starting up five or more furnaces, as was
the old practice. The rapidity with which melts may be made now,
due to the higher temperature secured, is essential to the proper
working of our cupro-nickel alloy, besides being the factor that
makes this system cheaper than unaided city gas.
A number of oil furnaces were sent to us for trial and numerous
tests were made. We found none suited to our requirements.
Then, too, the continual receipts of oil in wagon tank lots, the transfer
of same to our storage tank, the necessary uncleanliness and incon¬
venience of handling and distributing oil fuel in an institution of this
kind, made us conclude that gas was the fuel best suited to our
requirements. Gasoline having increased in price, and apparently
decreased in thermal units, it was decided some time ago to shut
down our gas-making plant. It was then we had city gas piped to
all parts of the house. We used this unaided gas in the melting room
for about six months, until we found that the “Selas” gas gave us
quicker and higher temperature heats at less cost. It is now planned
to cast cupro-nickel ingots 25 per cent heavier than has been our
practice for the past two years, during which time we increased their
weight six times. In other words three years ago our minor coinage
ingots weighed 4 pounds; we expect to make bars now weighing 30
pounds. I his is contemplated because we are looking mto the
question of overhauling or scraping our bars before coinage operations
proceed, believing this practice will make for more perfect coin.
COINING DEPARTMENT.
During the fiscal year ended June 30, 1915, the mint coined double
eagles, eagles, half eagles, and quarter eagles, half dollars (proof
only), quarter dollars, dimes, 5 and 1 cent pieces. In addition the
following denominations for the following-named countries were
corned:
Cuba: Cinco pesos (gold); pesos, 40, 20, and 10 centavos (silver) •
5, 2, and 1 centavos (nickel).
Costa Rica: Two colones (gold); 50, 10, and 5 centimos (silver)
Ecuador: Twenty centimos (silver). v
Salvador: Five, 3, and 1 centavos (nickel).
During this period the coining department received from thA
superintendent 850,660.785 fine ounces of gold for coinage which
was operated upon and from which there? was produce!’ 733 612
So0/td5°25biem78'SS' “gleS; l,tl“ «*><*’ quarter e^ljrflhe
™Ue °f *5.252,817.50, amounting to 254,105.046 fine ouncts of gold
For the Government of Cuba 368,050 pieces of cinco pesos, of the
OPERATIONS OF THE MINT SERVICE.
27
value of $1,840,250, amounting to 89,022.094 fine ounces. For the
Government of Costa Rica 5,000 pieces of 2 colones, of the value of
$4,653.54 in United States gold coin, amounting to 225.115 fine
ounces. This, and 502,372.401 fine ounces in clippings, condemned
coin, blanks, bars, and sweeps were delivered to the superintendent
prior to settlement, and there was delivered in settlement 4,916.970
fine ounces in coin and bars. The entire operation showed a wastage
of 19.127 ounces of the value of $395.39, being 4.50 per cent of the
legal allowance. The percentage of coin to the amount of metal
operated upon was 40.95. The low percentage is due to the fact
that the pieces of the smaller denominations were first struck and
weighed after coinage. . . , ,
The coining department also received during the same period trom
the superintendent for coinage 7,673,445.27 fine ounces of silver, of
which 7,620,289.47 were operated upon and from which there was
produced 16,552,500 pieces of hah dollars, quarter dollars, and dimes
of the value of $1,660,132.50, which contained 1,200,907.08 ounces of
fine silver. For the Government of Cuba, 10,765,400 pieces of pesos,
40, 20, and 10 centavos, of the value of $3,276,481.32 in United States
subsidiary coin value, containing 2,370,124.68 fine ounces of silver.
For the Government of Ecuador, 2,500,000 pieces centimes,
of the value of $500,000 in United States subsidiary coin, contain¬
ing 361,687.50 ounces; and for the Government of Cost J £!c7a’
859,425 pieces in 50, 10, and 5 centimos, of the value ol $113,178. t6
in United States subsidiary coin, containing 81,867.05 fine ounces
of silver, together with 3,410,009 fine ounces in clippings, condemned
coin blanks, bars, and sweeps were delivered to the superintendent
prior to settlement, and 248,386.55 fine ounces in ingots, coin coin
condemned, coin unfinished, blanlp, and bars were delivered at set¬
tlement Upon this operation there was a wastage of 454.79 fine
ounces of the value of $252.78, being 5.97 per cent ol the legal allow¬
ance The percentage of coin produced to the amount operated
UPTheWadop3artoent during the year received 11,929 930 troy
infl j riiplcol ingots, from which there was produced from the
upon 19,457,039 pieces, of the value of $972,851.05 in
mgote opor t ^ U- P . containing 3,093,509.08 troy ounces. For
Gover^ent of (Juba, 11,024,300 pieces of 5,2, and 1 centavos of
value of $241,198, containing 1,171,147.35 troy ounces. For
S Government of Salvador, 9,208,000 pieces of 5, 3, and 1 centavos,
face value of $206,080, containing 1,025,011.20 troy ounces;
11 f which and 5,259,248.20 troy ounces of condemned com and
°, „rCro delivered to the superintendent prior to settlement.
The was also delivered at settlement 1,371,402.50 trov ounces in
iher cquj clippings, condemned coin, and unfinished blanks.
’ ont,iro operation there was a wastage of 9,611.67 ounces, of the
'l o of $146.96. The percentage of coin produced from the ingots
Val rated upon was 49.28. The percentage of wastage was 00.08854.
°^There was also delivered to this department during the same period
704 833-40 ounces of bronze ingots and blanks, from which there
produced from the metal operated upon 2,832,020.20 ounces of
T_cent coin, of the value of $283,561.95, or 28,356,195 pieces. This
iiiount, together with 1,816,432.70 ounces of clippings, condemned
coin, and blanks, was delivered prior to settlement. Tho amount
28
REPORT OP THE DIRECTOR OF THE MINT.
settlemenjt was, ingots and strips, 2,503,561.40 ounces and
5du,5/o.90 ounces unfinished coin and blanks. The wastage on this
operation amounted to 2,243.20 ounces, of the value of $22.48. The
percentage of wastage was 00.03829. The percentage of good coin
produced to the amount operated upon was 48.35.
In addition to the bullion received for coinage the following shows
the amount used in the manufacture of medals: Of the 1,104 865
hne ounces of gold received, 453.310 fine ounces were used in the
manufacture of medals, which, together with 646.653 fine ounces in
clippings and filings, were delivered to the superintendent prior to
settlement, and 4.934 fine ounces in clippings and filings at settlement.
Ihe amount of silver received was 3,857.41, of which 1,835 fine ounces
used m the .manufacture of medals, and that amount, with
2,031.03 ounces m clippings and filings, were delivered prior to settle¬
ment.
As will be seen by the operation of 25,183,199.06 ounces of bullion
and metal for coinage and 4,962.28 ounces of bullion for medals there
were produced 99,829,621 pieces of coin, of the value of $14,379 493.86
and 1,239 gold and silver medals. Upon this entire operation the
wastage or loss amounted to $8 1 7.6 1 .
ENGRAVING DEPARTMENT.
All the dies used m coming operations in all the mints are made in
the engraving department at Philadelphia. The embossed-envelone
dies used by contractor supplying stamped envelopes for the Post
Office Department and postal savings bank are also made here*
also dies for Army and Navy and other authorized public medals’
The mint is reimbursed for the actual expenditures for labor and
materials on these medal accounts.
The number of dies prepared for United States coinage last Year
mcluding 77 for special corns for the Panama-Pacific "Exposition!
was 2,690. In addition 75 dies were made for Philippine coinage
r\ u °r GoTerrent °f Costl Riea, 720 for the dovemmen^of
Cuba, 60 for the Government of Ecuador, 220 for the Government
of Salvador, 90 for the Post Office Department, 76 for medals, and
6o master dies and hubs; in all 4,040, as follows:
Denomination.
Phila¬
delphia.
San Fran¬
cisco.
Denver.
Total.
Gold:
50 dollars (Panama-Pacific Exposition)
Double ea^le
17
SO
10
20
17
92
22
43
20
6
34
Eagle .
12
12
23
20
Half eagle .
Quarter eagle .
. .
Quarter eagle (Panama- Pacific Exposition)
6
34
One dollar (Panama- Pacific Exposition).
JL U . . . . .
Silver:
Half dollar .
67
167
234
70
20
20
50
20
90
20
60
320
Half dollar (Panama- Pacific Exposition)
Quarter dollar .
Dime .
190
40
80
Total .
190
160
140
490
OPERATIONS OF THE MINT SERVICE.
29
Denomination.
Phila¬
delphia.
San Fran¬
cisco.
Denver.
Total.
Minor:
5 cents .
850
155
410
1,415
374
1 cent . .
180
80
114
Total .
1,030
235
524
1,789
Philippine:
20 ofvntavos
20
20
10 ppntiwns . .
40
40
Total . * .
60
60
Costa Rica:
9. onion pq .
4
4
Kfl PAntimnc .
8
8
10 ppn timoQ . . . .
6
6
5 centimos .
26
26
44
44
Cuba:
K rvflnAn . . .
47
47
50
50
A O nfintoiTAo .................
139
139
100
100
120
89
44
120
89
44
109
698
109
698
60
60
Salvador:
75
75
3 centavos . .
61
84
.
.
61
84
1 centavo .
220
. . .
220
Grand total coinage dies.. . - - - - - - • • • - - •••-.-
Unused coinage dies destroyed Jan. 2, 1915
Master dies and hubs for coinage. - - - • - .
United States embossed envelope dies. ... .
Medal dies .
Total .
3,632
159
18
65
90
76
4,040
the state of the numismatic collection.
rru eeessions to the collection of coins and medals for the fiscal
vc ar ended June 30, 1918, amounted to 342 specimens, of which 257
yeai ci ftn(j 35 were medals. The following analysis shows the
distribution of these acquisitions as to metals and periods:
As to metals.
Coins—
Gold .
Electrum---
Silver . .
Nickel .
Bronze .
Medals—
Silver .
Bronze. ----
Aluminum -
77
2
161
9
8
As to periods:
Coins —
Antique.
Medieval
Modern . .
Medals .
20
62
3
90
4
163
85
Of the antique coins acquired the majority are Greek, and while
these are chiefly of historical value, they include also a number of
”7 cimens of superior artistic die engraving. Among the latter are
9 tew rare and beautiful gold coins of Syracuse and Carthage.
30
REPORT OF THE DIRECTOR OF THE MINT.
While only a few medieval coins, strictly speaking, were added,
yet a number of gold coins, properly classed as modern, belong to'
the early years of the sixteenth century, and are, therefore, in fact
more medieval than modem. These gold coins were issued by
v emce, Genoa, and other Italian States, in which modem coinage,
. especially of gold, had its origin.
A noteworthy addition to the collection, from the point of view
both ot works of art and of popular interest, are specimens in bronze
ol the award medals of 7 out of the 10 Carnegie hero foundations
bhese medals were procured through the kind offices of the State
Department, and include the awards of the foundations for Denmark
Great Britain, Holland, Italy, Sweden, and Switzerland, which, with
the Lnited states of Amenca-Canadian medal, make an exhibition
o more than usual interest. Similar funds have been established
by Mr. Carnegie in Belgium, France, and Germany, and we have
been promised specimens of their respective medals as soon as thev
nave been produced. J
The following persons and firms made donations of coins or medals
to the collection during the fiscal year:
Carnegie Heldcnfond, Holland: Copy of award medal.
Carnegie Hero Fund for Great Britain: Copy of award medal.
Joseph K. Davison’s Sons, Philadelphia: Various medals.
Committee of New York Tercentenary Celebration: Bronze medal.
Fomlazione Carnegie, Rome: Copy of award medal.
D. b . Kunz, chairman of committee: Samuel P. Averv medals
medal aCG arand’ New York : Miscellaneous bronze coins and
G. T. Morgan, Philadelphia: Bronze medal.
midSZ Department> United States of America: Various award
byDroiSH“fon«dkteh0laS: Carb°’ S°n0ra- ^ex'co Necessity struck
WiAArAi I,|lt'le,(*i»y Silver assay commission medals.
M W S(l o Uon’ Ne® *ork City: Aluminum Masonic medals.
medal^V Stryker, president Hamilton College, Clinton, N. Y.: Silver
John H. Stroer Manitowoc Wis.: Nickel coins of Holland.
b. 1. bung, Pekm, China: Chinese medals.
War Department, United States of America: Various award medals
Whitehead Hoag Co., Newark, N. J.: Bronze medST ’
J aran Zerbe, department of medals, Panama-Pacific Exposition
lXmXTaTExposiUoner °ffiClal S°UVenir m°dal °f Pana^^acific
MACHINE SHOP.
In addition to the regular repairs and the upkeep of the machinprv
and appliances, the following new work was done for this mint- ^
Built and installed 2 automatic weighing machines* 2 turn
tables equipped with large mgot molds" for the melS room 9
upsetting machines for minor minnm. i „ • jyeiimg room, 2
1 cadmium rod cutting machine “oTuse “ach“e:
dime feeder fingers; 6 sets double-ea<do department; 6
one-cent collars; 25 five-cent nickel eoflars; 4 automafe hoppe^ota
OPERATIONS OF THE MINT SERVICE.
31
feeders ; 30 complete sets of baskets as repairs to automatic weighing
machines. Three cutting presses are under construction and are
about 40 per cent completed. Changing pipe system to suit the
installation of Selas gas system.
A complete exhibit of minting processes was prepared, shipped to,
and operated at the Grand Central Palace, New York City, durmg the
expositions of the New York Edison Co., Red Cross, and Tercentenary.
During this year wre prepared a complete working exhibit of a mint,
shipped to and installed it at the Panama-Pacific Exposition, San Fran¬
cisco, Cal. For this exhibit the mint manufactured one 6-foot bullion
balance and one full set of weights; one upsetting machine; one coin
reviewing machine ; one 6-inch lever shear ; one coin-drying machine ;
one sand-blasting machine; two punches and beds and four collars
for the souvenir medal; and 600 feet of brass railing to inclose ex¬
hibits was burnished and lacquered.
Punches, beds, and collars were made for the $50 octagonal and
round gold pieces, and punches, beds, and collars for the $1 gold
piece for the Panama-Pacific Exposition.
During the same period the following work was done in the shops
for other institutions:
Completed and installed two 4-beam automatic weighing ma¬
chines, one each in the New York and Chicago subtreasui ies ; three
adjusting balances and six sets of weights for the New York sub-
treasury.
One cadmium rod cutting machine for the New York assay office.
Repairing one 3-foot bullion balance for Federal Reserve Bank,
Atlanta, Ga.
Punches, beds, and collars for Costa Rican, Salvadorean, and Cuban
coinage. .
For Smithsonian Institution, five silver bars and discs.
For mint of the F nited States at San Francisco, Cal. : 1 6 sets double¬
eagle sectional gold collars; 5 sets eagle sectional gold collars; 10
nickel coin collars; 10 half-dollar coin collars; 4 sets of toggles for
sectional collar device; repair parts for one automatic weighing
machine.
For mint of the United States at Denver, Colo.: 6 sets double-eagle
sectional gold collars ; 6 sets eagle sectional gold collars ; 6 sets quarter
eagle coin collars ; 6 sets half eagle coin collars ; 50 knife edge guides
ancl rest for automatic weighing machines; 20 baskets, center^ knife
edges and parts for automatic weighing machines.
CARPENTER SHOP.
Besides the general repairs and upkeep of the machinery and
appliances, the woodwork of the building and the furniture have been
kept, in repair and all pamting and hardwood finishing done as
Rircd*
Six quartered oak lockers and two assav tables were built for the
assay department.
An oak partition was built in the room of the curator of the cabinet,
separating a portion for a washroom.
The gas meters in the basement were separated by a partition from
the portion of the room used by the gatekeeper.
32
REPORT OF THE DIRECTOR OF THE MINT.
A monitor skylight was built on the roof over the blacksmith’s
shop.
About three-quarters of the work has been done on a coin and
medal storage cabinet of 280 drawers for the use of the curator of
the cabinet.
There has been constructed one coin-reviewing machine for the
San Francisco Exposition and one for this mint; one sand-blasting
machine for the New \ork Electric Exhibition; one copper-lined
tank for the whitening room of this mint; two sets of counting boards
for this mint and two sets for the Chicago Subtreasury.
The crating, boxing, and packing of machinery for the New York,
^an D*e£0’ ^an Francisco Expositions and of refinery appliances
of the New York assay office, were done.
All shipping boxes required by the institution were manufactured,
including 250 shipping boxes for Ecuador coin and 578 boxes for
Salvador com made by the mint.
All patterns necessary for the work of the mechanical departments
are made in the carpenter shop.
SEWING ROOM.
The sewing room, besides making the necessary repairs to flays
awnings, window shades, towels, rugs, machine belts, etc., manufac-
tured for this mint 230 pairs fire mitts, 143 pairs asbestos mitts,
5,o/6 aprons, sleeves and miscellaneous articles; and 59,200 coin
bags received from the contractor were marked.
There were also manufactured for the New York assay office 1 200
oErT°99 enn paU3 s?eves> Pai.rs ^re mitts, 500 pairs asbestos mitts,
and 22,800 anode bags; 100 pairs fire mitts and 100 pairs asbestos
wrfnm n 6 fAT “? San Fr^lcisco ^nt and three pairs asbestos
mitts lor ttiG Ucadwood assay offic©.
PROOF COINS AND MEDALS.
The following table shows the number of proof coins and medals
and their nominal value manufactured during the fiscal year:
Articles.
Pieces.
Nominal
value.
Gold medals . .
305
SO 7fi
Bronze medals . .
914
14,032
220
919
901.46
5,419.88
1,920.00
256.40
Silver proofcoins . !.!!. 1. i 1 ‘ ‘ ‘ ‘ . .
Total .
1,539
46.31
17,929
17,809.81
EMPLOYEES.
The total number of employees in this mint at thp
year was 323, distributed ‘in the several deplrtmente TfoUowa?
General . 165
Coining . ^
Melting and refining . * ” 45
Assayer's . . . *** u
Engraver’s. ,
Total.
323
OPERATIONS OF THE MINT
SERVICE.
33
VISITORS.
been shown through the building by the Guides 7 ’ 77,289 h g
posits, 6,132; number oF redeposits, 164; value of
mcome SI 078* 21 2 nP0SltS’ mclu<Sng redePosits> $15,836,021.38;
mcome, $1,978,212.61; expenses, $462,452.66; employees, 323.
MINT OF THE UNITED STATES AT SAN FRANCISCO.
INCREASE OF DEPOSITS.
, J!,e mcrease of deposits for the fiscal year 1915 over the fiscal year
1914 amounted to $24,585 314.71, and Is explained in round fioSes
by the gold received from the following countries : °
Legality.
Fine
ounces.
Value.
Japan (gold coin) .
628,260
306, 424
16, 171
67,870
20,000
24,000
120,000
$12,987,286.00
6,334,346.00
338, 648. 00
1,402,997.00
413,436.00
496, 124. 00
2,480,620.00
Alaska . . .
Philippine Islands ... .
VAvlJULvO tlv • • m m m
Total .
1,182,725
24,453, 457.00
131,857.71
Silver . .
Total .
24,585,314. 71
PANAMA-PACIFIC INTERNATIONAL EXPOSITION.
Under the direction of the Secretary of the Treasury and the Direc-
tor °t the Mint it has devolved upon the superintendent of the mint
at ban b rancisco to maintain and operate an exhibit of the mint proc¬
esses at the Panama-Pacific International Exposition. This exhibit
ccupies a floor space of 2,116 square feet in the Mines Building,
nere there is an exemplification of electrolytic refining, as well as
tho i operations from the melting of the metal to the striking of
tiv ,T'S le< pieces. This work consists of striking the commeraora-
of tv )ronze and silver metals. The commemorative coins, consisting
: e (ro\lnd and octagonal $50 gold coins, $2.50 gold coins, $1 gold
t ’ aiui 50-cent silver coins, are being struck at the mint.
nntionTpCtio1^ with the special coinage for the Panama-Pacific Inter-
ever coin JfPosltlon> the striking at this mint of the first $50 piece
10(1 by the Government was a memorable event marked by
ceremonies.
was struck on the large hydraulic press, which had been
nrpqq „nrl .^om the Philadelphia Mint for this special coinage. The
and the OP 0 Wads of the room were draPed in the National colors,
eremony was participated in by over 100 invited guests.
appropriate
The coin,
forwarded f
CHANGES IN OPERATIONS AND NEW GENERAL EQUIPMENT.
An *
the chango made in the operations at this mint durine
department ^stitutlon of oU fuel for city gas in the melting
t. Several years ago an attemnt was made to loatoii
9760°— i
34
REPORT OF THE DIRECTOR OF THE MINT.
burning furnaces in this department, but it was abandoned as being-
unsatisfactory. Early in 1914 the superintendent, with the approval
TWo Pirector of .tbe decided to give oil fuel a thorough try out
Three furnaces with an improved design of burner and an air super-
were11 galled and gave entire satisfaction, equaling gas in
speed on all classes of metal, with a high economv The results
obtained with fuel oil were so satisfactory that it was decided to
change all of the gas furnaces to oil furnaces. There are now seven
completed furnaces and four nearing completion. Some t?ouTle has
he?t eXrP,<Tie'K‘ed jvith the fire brick melting down under the terrific
heat. This trouble, however, will be overcome somewhat wheP the
operators become more familiar with the furnace A ™ ,
respect. * Wg Wed *■* >" ~a«ac^ Ttut
“d *ncl oiI’ «“ following is
OnTwenfS^
British thermal units. Taldng the sS cost %) fiS Tl 5A940’000
as* sSSS
sag s
OX svjts&i
A milling and drilhng machine, also a henoli ri^n i i
chased for the machine shop, also a nroriJmf rU?* ^as boen Pur-
bench drill, and grinder for t£e scale adjuster- also^natt™01 bVffer>
disk grinder for the carpenter. A now nintni A ° a Pat tern -maker’s
an automatic fuel-oil regulator has been install r/^en*kee^ PumP and
A Dodge rock crusher his bee£ hSwted “^11^^ “0“-
new equipment for coining department.
Nos. 2 and 3.P ThS^d^cPs^abkiPh? speed^f ?h milIs
SSSSJ. “■SZ&Z* IXTr ' P
benefit. It resulted in mcrFasing theomn^/wilr^88 of11twofold
producing a more uniform thickness of tlln o • u Ber 1(>h and in
and balance the increased output of the* mlk ^ Stnps‘ To meet
were installed on the cutt^rLl ^ablb.’^^ fpeed c°»trols
their full capacity. & p ’ enat)ilng them to work up to
In the adjusting room a visual ol^rtrir* j
two minature electric lamps was installed* ,1' device in the form of
weighing machines, enabling the Orator °f ^VUtomati«
StOPP“'g the *««• operFtZg th.' IZZE&Sg? “y
OPERATIONS OF THE MINT SERVICE.
35
Considerable trouble was experienced with, the automatic weighing
machines when operating upon gold blanks from the shaving machines.
Small particles of gold shavings would adhere to the blanks and be
carried into the delicate mechanism of the weighing machines, this
danger and annoyance was overcome by the installation ot an elec¬
trically driven rotary riddle, equipped with an automatic adjustable
stop, which allowed the machine to operate long enough to remove the
shavings and then automatically stopped it. .
Hoods were placed over the rotary furnaces in the whitemng room
to carry off any escaping gases and surplus heat. This ^provemen
bettered the working condition for the men employed m this room.
In the pressroom a screen bottom chute was attached to the doub e
eagle upsetting machine to catch and save any particles of gold
detached from blanks passing through the machine.
PRESENT COST AND INVENTORY SYSTEM.
This system has been in operation for the past fiscal year. It Ts of
distinct advantage in checking up on operations and the work m the
mint.
OPERATIONS FOR THE FISCAL YEAR 19)5.
During the year the mint received 15,311 gold and silver q 4o°finA
and 73 redenosits from the Carson Mint, containing 3,452,037.340 fane
of silver at a subsidiary coinage value of 205.49. A ite at
tins year show “ ' Th/detaib covering classification
ofbulhon Inds^l ofori^set out in tables appearing in another
part of this report.
1 The receipts of gold bullion were as follows:
Uncurrent United States'coin'transferred . I ~ " I ’
Surplus bullion recovered . . .
R ©deposits .
Total. .........
$71,104,329.76
9,179.27
6,304.84
240, 131. 13
71,359,945.00
The disposition of the gold bullion was as follows:
Bars paid depositors .
Sold in sweeps. . . . .
Bars exchanged for coin .
Coinage .
Wastage .
$3,773.00
11,663. 71
100,322. 10
29,490,992.50
312.91
Total .
Balance, receipts, and disbursements.
Balance on June 30, 1914, as per report . .
Receipts fiscal year 1915, per above .
Disbureements fiscal year 1915, per above . . 208,022,911.84
Ledger balance June 30, 1915. .
29, 607,064.22
$166,270,031.06
71,359,945.00
237,629,976.06
29,607,064.22
36
REPORT OF THE DIRECTOR OF THE MINT.
The purchases, deposits, and redeposits of silver bullion at this mint
during the fiscal year 1915 were as follows:
Items.
Fine ounces.
Cost.
Fine silver purchased . . .
Purchases and partings .
Surplus bullion, sweeps, bars, proof, etc . .
For return in fine bars . .
Philippine Island coins transferred for recoinage
Mutilated and uncurrent coins . .
Total deposits and purchases . .
Redeposits from Carson . .
Total silver . .
855.767.11
372.285.11
2,088. 16
460,097. 07
136, 180. 24
13,033.33
$445,688.23
187,912.
1,134.
233, 110.
88,896. 95
17,934.92
1,839,451.02
6,750.64
974,677. 19
3,400. 19
1,846,201.66
978,077.38
Bars manufactured during the year.
Items.
Fine ounces.
Value.
Gold:
Certificate .
1,353,127. 088
4,853.082
182. 517
$27,971,619. 39
100,322. 10
3,773.00
For exchange for gold coin .
For payment to depositors .
Total gold bars .
1,358,162.687
459,492. 18
28,075,714.49
232, 797. 4S
Silver: For payment to depositors .
The gold certificate bars on hand at this mint June 30 1915
amounted to $155,325,634.30.
For the government of the Philippine Islands this mint manufac¬
tured during the fiscal year 1915 silver coin as follows:
Denomination.
Pieces.
Value.
Metal con¬
sumed in
coinage.
Value in
United
States
subsidiary
coin.
20 centavos .
10 rflntare<i * .
950,000
920,000
Pesos.
190,000
92,000
Fins ounces.
91,663.49
44,388.55
$126,716.42
61,363. 12
Total coinage
1,870,000
282,000
136,052.04
188,079.54
The purchase of minor coinage metals during the vear for the
troy Ounces*; 1^10, ‘ “ f°U°WS : ^PP^l, 102,281 .63
been^in^d^^the^overnm^nt^o/ the> Philf0 •1"ce?t1avo, V\eces have
metal purchased and from old sLniA * Ppme Islan,ds from,nfv
recoinage, as follows: " pamsh copper coins deposited for
1 centavos from—
New metal purchased .
Minor coins for renoinn™ .
Minor coins for recoinage]
Total 1-centavo coinage. .
Value.
P-185, 23S. 00
59,061. 12
. 244,299.12
$185,270g55— in5^ceS1£ckek1$l5a542i7?i^Uted, 1° tho amoimt of
total, $185,270.55. ^<^142,542.75; 1-cent bronze, $42,727.80;
SG8
OPERATIONS OF THE MINT SERVICE,
37
The minor-coin distribution expenses amounted to $78.92, viz:
Coin sacks, $76.82; twine, $2.10; total, $78.92.
Minor coinage issued, melted, and amount outstanding.
Denomination.
Coined.
Issued.
On hand.
Melted.
Outstand-
ing J une 30j
1915.
$404,800
324,230
$325,142.85
288,174.94
$79,657.15
36,055.06
$5,000
1,400
$320,142.85
286,774.94
729,030
613,317.79
115,712.21
6,400
606,917.79
The following table shows the coinage during the fiscal year 1915:
domestic coinage.
Denomination.
Pieces.
Value.
1,875,876
3,284,000
$29,490,992.50
809,000.00
Silver .
Minor: . ! .
3,437,000
4,577,000
171,850.00
45,770.00
1-cent .
8,014.000
217,620.00
Total domestic coinage .
13,173,876
30,517,612.50
PHILIPPINE COINAGE.
Silver .
Bronze .
Total Philippine coinage
1,870,000 r2S2,000.00
500 5.00
1,870,500 282,005.00
ASSAY DEPARTMENT.
Tho operations of this department for the fiscal year were as
follows: . _
Item.
Number of samples op¬
erated on.
Item.
Number of samples op¬
erated on.
Gold.
Silver.
Total.
Gold.
Silver.
Total.
28,528
194
32
766
24
430
1,161
1,358
468
3,780
143
46
20
3,142
31,670
194
148
766
32
694
1,343
2,368
468
2f,730
143
46
20
Coiner’s settlement bars..
Assayer’s bars .
52
38
33
329
63
29
70
6
8
33
58
46
66
329
63
29
70
Rodeposits .
Exchange bars .
lie
General Land Office sam-
Return bars .
Anode melts . .
Mint fine melts .
8
264
182
1,010
Forest Service samples. . .
Secret Service samples. . .
Bureau of the Mint sam-
Crude mass melts .
Fine mass melts .
Experimental bars. .
Bullion assay samples ...
Superintendent s grama
37,564
4,769
42,333
38
report of the director of the mint.
Number of assays made and segregated.
Number.
99.058
Number.
Deposits .
Reaeposits . _ $°6
Purchase . 3,681
_ _ , a 1411
Ingots . 3,078
Rdinery . 12,888
General Land u luce .
T?Arnct fifirvieft . loJ
Miscellaneous . 8,671
Total . 105,945
Mira fine-gold determinations .
M int fine-silver determinations.
Fineness.
Melts.
Fineness.
Melts.
ooq n _
1
5
999^ .
2
999.5 .
86
999 3 .
2
999 4 .
33
999 5 .
77
999.6 .
46
999.7 .
7
Total
168
Total .
91
Ingot melts.
Melts.
Passed
on first
melting.
Remelt¬
ed.
Con¬
demned.
Total.
Gold ingots .
679
15
694
347
09
34
48
Silver ingots .
342
5
Philippine 20 centavos .
69
Philippine 10 centavos . . .
34
Panama-Pacific International Exposition half dollars .
48
Panama-Pacific International Exposition gold .
9
9
Total .
1,181
20
1,201
Fineness of ingot melts.
Domestic coinage.
Philippine coinage.
Gold ingots.
Silver ingots.
20 centavos.
10 centavos.
94 at 899.8
28 at 898. 8
1 at 748. 2
3 at 748.2
317 at 899. 9
82 at 899. 1
5 at 748.5
10 at 748. 5
230 at 900.0
90 at 899.3
8 at 748. 7
3 at 748. 7
32 at 900. 1
84 at 899. 5
9 at 748. 9
9 at 748. 9
4 at 900. 2
33 at 899. 8
11 at 749.2
6 at 749. 6
2 at 900. 3
27 at 900.0
3 at 900.2
10 at 749. 6
8 at 749. 8
7 at 750. 0
10 at 750.4
3 at 750. 0
679
347
69
34
MELTING AND REPININQ DEPARTMENT.
The superintendent of melting and refining received from the
superintendent of the mint during the fiscal year 1915, the following:
Gold account: Fine ounces.
In bullion . 6, 220, 640. 700
Returned prior to
sett lement . 3, 763, 712. 409
Returned at set>
tlement . 2, 457, 233. 288 6, 220, 945. 697
Surplus.
304.779
Silver accoimt: Fine ounces.
m million . Q nri tea ic
Returned prior i6 . <*,033,588.18
settlement . 1,680,990.69
Returned at set¬
tlement . 1,354,600.63 3,035,591.32
Surplus . 2,003.14
OPERATIONS OF THE MINT SERVICE. 39
Refinery operations covering a period of six months were as follows:
Gold account:
Delivered to the Fine ounces.
refinery . 1,316,108.282
Returned from the
refinery . 1,316,147.211
Surplus . 38.929
Silver account;
Delivered to the Fine ounces.
refinery . 364,838.07
Returned from the
refinery . 365,933.11
Surplus . 1,095.04
The refinery also returned 5,495 pounds of copper, 211.70 troy
ounces of platinum, 17.50 troy ounces of palladium, and 1.48 troy
ounces of osmiridium.
The refinery earnings were as follows:
Charges collected on bullion treated . $34, 120. 09
By products (estimated value) . ... . 10, 617. 86
Total . 44,737.95
Minor coinage metals,
Nickel account: Troy ounces.
Received . 1,776,395.96
Returned in ingots
prior to settlement . 720, 880. 70
Returned at settle¬
ment . 1,053,661.33 1,774,542.03
Operating wastage . 1, 853. 93
Bronze account: Troy ounces
Reserved . 1,023,076.33
Returned in ingots
prior to settlement . 710, 364. 70
Returned at settle¬
ment . 308, 103. 00 1, 018, 467. 70
Operating wastage . 4, 608. 63
Total minor coinage metal operated
upon . 1,431,245.40
COINING DEPARTMENT.
The superintendent of the coining department received from the
superintendent of the mint, gold, silver, nickel, and bronze during
the fiscal year 1915, and returned same as follows:
Items.
Gold. .
Fine ounces.
Silver.
Fine ounces.
Received prior to settlement, 1915 .
2,950,537.983
1,375,302.79
Returned prior to settlement, 1915 .
2,858,525.328
91,997.518
1,190,089. 27
185,125.92
Returned at settlement, 1915 .
2,950,522.846
1,375,215.19
Actual wastage .
15. 137
87.60
Items.
Nickel.
Troy ounces.
Bronze.
Troy ounces.
Received prior to settlement, 1915 .
860, 103.20
811,425.40
Returned prior to settlement, 1915 .
844,276.03
15, 109. 50
690, 211.98
120,755. 10
Returned at settlement, 1915 .
859,385.53
810,967.08
Actual wastage .
717.67
458.32
During the same period the superintendent of the coining depart¬
ment operated on gold, silver, nickel, and bronze and made delivery
to the superintendent of the mint as follows :
Items.
Gold. .
Silver.
Amount operated upon .
Fine ounces .
9 SI fi 945 KQO
Fine ounces.
1 919 C1Q QC
Coin delivered to superintendent .
Olvlf i-iu . OtTV
1 69fi 7fift
1 , - y Ol%7. oo
791 AOO 90
Percentage of gold coin to amount operated upon
1) U-U. 1 w
50.56
4 <*1, iuy. *-u
59.64
Items.
Nickel.
Bronze.
Amoimt operated upon .
Troy ounces.
K45 143 firt
Troy ounces.
fi7-l 9!i4 70
Coin delivered to superintendent .
j 1*10. W
552 Q90 73
AKQ C4Q so
Percentage of nickel coin to amount operated upon .
y +m\J . fO
65.41
68.00
40
REPORT OF THE DIRECTOR OF THE MINT.
The following table shows the coinage during the fiscal year 1915:
DOMESTIC COINAGE.
Denomination.
Pieces.
Double eagles .
Panama-Pacific International Exposition octagon $50.
Eagles .
Quarter eagles, Panama-Pacific International’ Exposition .
Gold dollar, Panama-Pacific International Exposition _
Total gold .
Half dollars .
Quaxtef!M(a^^ma’PaCifiC Intern^i*0^ Exposition.’
Dimes.
Total silver.
Fivo-cent nickels.
One-cent bronze. .
MINOR COINAGE.
Total minor .
Total domestic coinage.
1,296. 750
1609
136,000
427,000
1 10, 017
5,500
Value.
1,875,876
984,000
60,000
420,000
1,820,000
3,284,000
3,437,000
4,577,000
8,014,000
13,173,876
$25,935,000.
30,450.
1,360,000.
2,135,000.
25,042.
5, 500.
29,490,992.50
492,000.00
30,000.00
105,000.00
182,000.00
809,000.00
171,850.00
45, 770.00
217,620.00
30,517,612.50
PHILIPPINE COINAGE.
20 centavos ....
10 centavos . .
1 centavo . . . . .
Total .
1 Includes assay pieces Panama-Pacific Exposition coins
thFguides^16 y<!“r 39,779 ™itors were sho™ through the mint by
asfolfows:30’ 1915’ *her6 WCTe 1 18 offloers “d ^P^ees in the mint,
General department .
Coining department . . .
Melting and refining department .
Assaymg department . . . .
Total .
MINT OF THE UNITED STATES AT DENVER.
. 58
. 20
. 30
. 10
. 118
being cfthe denomKone oftaZ- * h* f ^ yeor- tho «»mage
eagIes- h3t
been effected. The superintende'nt'has ^ ejnents and economies have
have always been troi^fesomt^-in^ fac^at^m1111^16 fiUmes’ which
that it was almost impossible for the mi , t”es,h^Ve been so bad
removal of the hood from the <mld ?u 1 jtand tllem- Since the
system there have been no fume! int&S? °ther changes 111 the
Changes in mechanical devices used in /Si
substitution of oil for steam as n !ir1« l the swee? ceUar and the
efficiency of this branch of the* institution*1*1™ greatdy mcreased the
8S8888
OPERATIONS OF THE MINT SERVICE.
41
TVo automatic weighing machines are being built in the machine
choD and are nearing completion. As these machines are being con¬
structed hv men in the shops in their spare time not taken up with
regular work, their greatest cost will he material used in their con¬
struction. assay depabtment.
The operations of this department during the fiscal year 1915 were
as follows. aelts and samples operated on.
Items.
Deposits . . .
Reaeposits .
Exchange bars .
Return bars .
Purchase .
Anode melts .
Mint fine melts .
Ingot melts .
Consolidated melts .
Experimental samples .
Bunion assay samples .
Copper melts .
Superintendent’s grain bars .
Sweeps bars .
Melter and refiner settlement .
Coiner’s bars .
Assayer’s bars .
Coin samples .
Sweep samples . . .
Nickel and Dronze ingot samples .
Bureau of the Mint .
Special assays .
Total .
Number of actual assays made . * “ ' .
Number of cupels made . . . ’ .
Number of pieces of lead cut and rolled .
Gold.
3,827
1,270
60
1
'‘iii*
203
159
4
317
7
””i3
5
39
3
13
253
197
310
1^795
Silver.
1,017
""*74*
"435'
454
231
253
”*316
8
12
.
4
36
173
304
3,317
Total.
4,844
1,270
134
1
435
568
434
412
4
633
15
12
13
9
75
3
13
426
85
37
197
614
10,234
51,738
40,455
42,948
, o-old and silver and ingot
The reported finenesses of tli° ,«pUs were as follows,
finenesses of gold and silver ingot melts _ - -
Fine gold.
Fineness.
Melts.
999.3.. .
4
999.4..
16
999. 5. .
125
999.6 .
51
999.7 .
7
42
REPORT OF THE DIRECTOR OF THE MINT,
MELTING AND REFINING DEPARTMENT.
The superintendent of the melting and refining department received,
operated upon, and delivered gold and silver bullion and minor coin¬
age metal, from August 1, 1914, to June 30, 1915, as follows:
RECEIPTS.
Items.
Gold account.
Silver account.
Nickel account.
Bronze account.
Settlement bullion Julv 31, 1914 .
Fine ounces .
1,057,581.083
1,091,182.660
553,700.118
170,824.815
77, 136. 741
45,203.670
Fine ounces.
1,724,751.41
721,862.37
224, $56. 16
300,487.0*
29,03a 40
Troy ounces.
744,111.52
Troy ounces.
805,645.07
Deposits
Red<*posits ..
Clippings .
713,950.60
54,376.70
503,463.95
33,950.50
Conaensed coin .
Condensed blanks
Treasury purchases _
500,280.86
1,127.01
Sweeps, bars, etc .
3,251.595
96. 750
393,518.675
Certificate bars .
Ingot copper .
1,166, 695. S3
14,938.58
291,112.50
1,604,195.84
Refinery copper .
Nickel.. .
Total .
3,392,496.107
138.667
3,502,401.26
2,985,185.73
2,947,255.36
Surplus .
DELIVERIES.
Ingots .
852,592.032
1,747.341
1,195,166. 563
1,342,715. S3S
10.000
7.751
890,300. 47
2,007,550.85
2, 481,943. SO
2,298,892.00
Fine bars .
Certified bars .
Unparted bars .
002,256.77
56.78
8.86
Proof metal .
Due from bureau .
Ingot copper .
319, 116.92
177,904.25
617,923.41
Nickel .
/.me . . . . .
Tin .
12,747.29
8,464.16
Sweeps .
395.249
776.69
Total .
3,392,634.774
3,500,950.42
2,978,964.97
2,938.026.86
Wastage .
1,45a S4
907,543.58
1,169,114.45
6,220.76
2,514,158.10
9,228.50
2,326, 316.85
Amount operated upon:
Ingot .
880,176.510
1,396,580.513
Refinery . .
Total .
2,276,757.023
2,076,658.03
2,514,158.10
2, 326. 316. 85
Refinery operations, Denver Mint, fiscal year 1915, were as follows:
Items.
Delivered to
refinery.
Returned
from
refinery.
Gold account.
Crude bullion with
charges .
Fine ounces.
1,184,530.347
31,975.013
179,875.153
Fine ounces.
Bullion, 0 992 and
over .
Bullion without
charges .
Fine bars .
i, 588,482. 609
33,173.816
Settlement bullion,
sweeps, etc .
Total .
1,396, 3sa 513
275.812
1,396,65a 325
Surplus .
Items.
Silver account .
Crude bullion with
charges .
Bullion, 0.99$ and
over .
Bullion without
charges .
Fine bars .
Settlement bullion,
sweeps, etc .
Total.
Wastage. ...
Delivered to
refinery.
Fine ounces .
862,801.65
752.25
305,56a 55
1,169,114.45
Returned
from
refinery.
Fine ounces.
1,127,539.02
89,802. 30
1,167,341.32
1,773,13
By-products:
Electrolytic copper, 2,960 95 pounds: est imatcd value . . „
Sponc* platinum, 205 49 troy ounces; estimated value . Jfi?* •.?
Sponge palladium, 16 09 troy ounces: estimated value . 6,5i5.6j>
Charges collected on bull iou operated upon . . * . ***** . . 514. 88
• . . . 7S,74a S7
Total earnings, Including estimated value of by-products _ _
co, 305, 81
OPERATIC) N S OF THE MINT SERVICE.
Ingot melts made.
43
Metal.
Number
made.
Ounces
melted.
Con¬
demned.
Remelted.
159
253
730
607
880,176.51
907,543. 58
2,514,158. 10
2,326,316.85
None.
None.
None.
None.
None.
1
None.
None.
Silver . .
1,749
6,628,195.04
None.
1
Sweeps-cellar operations
Items.
Gold.
Receipts: Ingots, etc.
Deliveries:
Coin. ..
Fine ounces-
865,950.27b
280,091-250
293 172. 433
292,701.917
865,9659.000
573’«5
Silver.
Nickel.
Fine ounces.
1.558, 004. 44_
Troy ounces.
2,620,015- SO
639,214.10
329,539. 97
588,917. 07
5 ’333.30
■-ass
Hiss
1,558,004.44
"*8:8
2,620,615. 80
Bronze-
347-l£!S
Bullion on Eland June . . .
Wastage for the fiscal year .
_ Total .
Surplus .
Amount operated upon . . • ;** * ' ' * '
Per cent of coin to amount operated upo
During the year 57,241 visitors W1 ^ ^his mint,
from the balconies. officers and emm°} ^ assay,
On June 30 there were ^^Sments: general, 4.,
divided as follows among t!
coining, 22; melting and refining, -
44
REPORT OF THE DIRECTOR OF THE MINT.
UNITED STATES ASSAY OFFICE AT NEW YORK.
The unusual conditions existing in the financial world, as a result
largely of the European war, and to a lesser extent the unsettled
conditions in Mexico, have taxed the capacity of the assay office and
refinery to the utmost. The conditions of operation, owing to the
lack of room and the limited number of men available to handle the
largely increased business, have been far from satisfactory. The
proposed new building, for which the appropriation is now made
and the plans practically completed, promises relief from these con¬
ditions imposed by lack of room. During the year the old building,
which has stood on Wall Street for the past 82 years, has been
removed, and it is hoped that the new building will be rushed to
completion as soon as possible. This, however, will increase rather
than diminish the necessity of additional employees. There has been
the best possible cooperation between all departments and between
their employees, and entire willingness on the part of the clerks and
other employees to respond to any calls for extra labor of a different
sort from what they are supposed to do. While this is a fine thing in
itself , there is a limit to which it can be relied upon to secure the
efficient performance of work which properly calls for a larger force.
Another year of increased business, such as now seems to be in
prospect, will bring us close to that limit.
o year this office received *5,122 deposits, which contained
8,05°, 857.28 gross ounces. In addition the office received from the
oietUSffi Mmt at Den7ei> on transfer, gold bars weighing
2,187,358.472 fine ounces, valued at $45,216,712.60.
The total revenue of this office during the fiscal year 1914-15
including by-products recovered and on hand (approximating $85,000
m value), amounted to $251,277, as against the total of appropria¬
tions for all purposes, including salaries, wages, and contingent
expenses, of $191,100. All of the appropriation was not expend
amount to be turned hack can not be exactly determined
at this date, as some accounts are still outstanding
On this showing of revenue on the year’s operation of nnnrmd-
rnately $50,277 in excess of expenditures, it is felt that Congress
would be well justified in granting the increase to the force of
employees for winch estimates have been made “
During the year 139,120.601 fine ounces of gold and 605 842 25
fine ounces of silver were transferred to the mbit at Pffiladelpffia
Gold bars were issued to denosi tin rs w .uuclPma.
for bullion for b^lreTxchaSfoJ
gold com for domestic use in the arts, etc for $24 1 qs •
a total decrease of $6,457,109.42. ’ lor^4>193>576.57, showing
Gold bars were exchanged for gold coin for export for $11 019 766 77
showing a decrease of $18,058,876.71. 1 '®Ai>uiy,/pb.77j
The charges collected on gold bars pypIi t , ,
amounted to $16,507.12. ° exchanged for gold com
OPERATIONS OE THE MINT SERVICE.
45
ND deliveries by the superintendent of the melting and refining
beceipts a. department.
Items.
Gold.
Silver.
Fine ounces.
370,030.713
4.897
3,020,749.354
101,152.013
28,737.083
96.750
Fine ounces.
450,569.20
Settlement metal, June ou, . .
3, 9H, 370. 62
432,623.35
Redeposits . . .
Uncurrent coin-... . .
Transfers from Philadelphia .
100.00
3,520,770.810
4,800,663.17
Deliveries: .
Gold certificate bars . . .
Commercial (fine) bars . - - — . . ’ .
Commercial (fine) bars condemned . "*' .
1,554,902.253
1,226,439.362
’ 4.897
776.206
3,607,332.03
2,900 39
173,079.02
1,015,999.44
Unparted bars . .
Balance, June 30, 1915 .
Total . . .
Wastage .
Total . .
Surplus . . .
3,520,822.130
4 799,310.88
1,352.29
3,520^822.130
’ 51.320
4,800,663.17
By-products of refincry^fiscalyear^^
Classification.
Platinum sold on bids .
Platinum sold in sweeps .
Platinum . .
Palladium .
Iridium .
Weight
on hand.
Approxi¬
mate value.
Ounces.
i'558.*io
286.65
102.00
$62,324.00
11,466.00
5,100.00
Sold.
Weight.
Ounces.
347.00
15.91
Value.
$13,355.16
617.50
Radium::::;:::::::: . 102.00 - -
. . ", - - ”7 ^liar^os were
Silver bullion sent to the refiner} upon^w^ gne ounces,
ollected contained* by assay, 3, > refinery for p.mdmg P assay,
wned by the Government returnee ted contamedTby ‘ J
lpon which no parting charge was c0^Cvlered during the year
43,976.21 fine ounces. All and slabs,
inrefined and in the form of settl
assayer’s department. department, as
During the fiscal year 1915 the have been in f^h the cur-
^hown by the tabulated statemen utmOSt to keep UP , divided
that it hJs taxed our resources to the > ut 4 4 368 samples, a
^ worK;
1 follows:
Items.
Samples.
Assays-
35,200
1 612
284
5,793
1,183
'296
454
14,762
5,526
878
. i
Reports.
46
REPORT OF THE DIRECTOR OF THE MINT.
The specials represent articles of jewelry, manufacturers samples,
etc., deposited for the accurate determination of fineness, a number
being used in legal actions relative to the enforcement of statutes
governing the stamping of karat fineness. Some were umpire assays
controlling the purchase or sale of bullion between private parties.
Sweep, by-product, and Mint Bureau assays make up the otheis.
The average cost per assay, including overhead charges, was $0.30.
About 110,000 cupels were made, and the silver disks used in partmg
were rolled and cut to the required weight.
The fineness was stamped upon all the fine gold and silver bars
manufactured, and the necessary computations for checking the gold
and silver values and charges on all deposits were made in the
department. ,
The constant increase in the work necessary in the department
without increase in the force has brought about conditions where it
is nearly always performed under pressure, and any absence due to
sickness or leave makes it more and more difficult to maintain the
high standard of accuracy and prompt dispatch of the business, which
has been the aim. The work performed shows a steady growth,
amounting to 25 per cent in the last four years, without any increase
in the force for performing it.
The number of officers and employees at this assay office at the close
of the fiscal year 1915 was as follows:
General . 47
Assay . 15
Melting and refining . 27
Total
THE ASSAY OFFICE OF THE UNITED STATES AT SEATTLE, WASH.
Gold dust and bullion received during the year. — Number of deposits
received, 2,288; weight in troy ounces, 555,323.80; weight in avoir¬
dupois tons, 19; coming value, $8,850,454.52.
The origin of the foregoing is shown below:
Source.
Alaska:
Kuskokwira . .
Circle .
Cooks Inlet...
Copper River.
Koyukuk .
Nome .
Southeast Alaska. .
Tanana .
Total for Alaska .
California .
Colorado .
Idaho .
Montana . .
Nevada .
Oregon .
Wasnington .
United States gold coin .
Y ukon Territory .
British Columbia .
British Columbia, refined. .
Foreign gold coin .
Assayer’s proof bullion . .
Jewelers’ bars .
Deposit melting-room grains
Redeposits .
Total.
Gold.
Fine ounces.
121.820
2,572. 127
18, 199.222
25,248.591
1,926.065
68,779.682
5,541.065
131,733.269
4,996.497
43,468.814
302,587.152
27.485
1.694
409. 755
14. 782
14.439
4,074.363
1,756.675
85. 1<6
40, 149.944
58, 767. 266
10,992.507
602.323
41.600
1,311.977
20. 433
495.325
Silver.
Fine ounces.
11.89
616.37
1,971.69
4,887.96
349.51
11,017.85
253.41
15,172.09
1,072.50
6,858.24
42,211.51
2.93
.18
99.53
.24
4.50
10,832. 77
464.67
10,124.33
36,531.61
421,352.896
662.50
562.24
5.69
101,502.70
Total coining
value.
$2, 534. 68
54,022.66
378,936.99
528,691.86
40.298.47
1,437,033.38
114.894.30
2,744,141.23
104,769.39
908,061.02
6,313,383.98
572.22
35.27
8,607.98
305.90
304.70
99,199.88
36,956.06
1,760. 77
843,968.95
1, 265, 328. 83
227,235.29
12,451.12
1,775.79
27,898.21
430.26
10,239.31
8,850,454.52
OPERATIONS OF THE MINT SERVICE. 47
Statement of gold deposits from the opening of the institution on July 15 , 1898, to the close
0 of business June 80 , 1915 .
Number of deposits
Troy ounces .
Avoirdupois tons...
Coining value .
65,418
13,355,906.33
45V. 6
$228,462,761.82
ORIGIN OF THE FOREGOING.
. $53,932,833.11
. 45,990,912.63
. 5,961,644.97
k::::::::::::::::::::::::::::::::::::::::.. . l3>149' 14736
Total . 119,034,538.07
Canada: 18,859,880.42
British Columbia . 87 810 161.54
Yukon Territory . 2 758,181.85
All other sources . —
Total..
228,462,761.88
The following table shows the number weight before and after
melting, loss in melting, and percentage of loss of the t. b
of deposits received during the fiscal year 1915:
Items.
Number
of
deposits.
Weight
before
melting.
Weight
after
melting.
680
Ounces.
441,309.52
74,098.98
14,247.90
1 091.67
« n nfl 1 tO
Ounces.
440, 868. 04
71 ^25 18
Dust . .
874
1 Xt OiAt. *U
io 658 48
Retort. . . .
217
AO, w«.
1 000.34
Ifllgntg .
114
18*, 150. 42
495.57
Wxk.m . .
186
18,961. 5o
Redeposits .
28
4i7t)* Oi
4,062. 48
OQ1
4,017.80
258.25
Jewelry scran .
102
Dental scrap .
39
/Vl. w
04 08
94.85
Jilted States goid coin .
rQreicm nnlrl A/virt
47
1
y*. yo
669.69
669.62
Total . .
2,288
555,323.80
550,738.55
Loss in
melting.
Ounces.
441.48
2,573.80
589.42
91.33
811.16
44.68
33. 18
.13
.07
4,585.25
Per cent
of loss.
Ounces.
0.10
3.47
4.13
8.36
4.27
1.09
11.38
.13
.01
1.82
The average fineness of regular deposits being 0. /649 gold an 1
i Average.
For convenience in shipping to the i™nt for ( ^ ounces troy,
each under 400 ounces in weight, aggregating ^
were melted into 79 large bars.
. r , devartment during the year.
Summary of work done m the melt g _ _ _
Items.
. .
. «-->» bar .
for reassays .
Total.
Weight
before
melting.
Weight
after
melting.
Ounces.
554,812.61
79,108.46
1,999.54
407.57
2,069.57
52.16
1,183.27
' 6.30
4.97
15,672.18
Ounces.
550,227.39
79,066.07
1 327.81
395.53
2,063.40
50.25
1,182.52
1 5.30
4.97
15,560.88
1655^315^
'““649,88475
48
REPORT OF THE DIRECTOR OF THE MINT,
Summary of work done in the assaying department during the year.
Quartation silver manufactured .
PhtiaIq monn furtnrftd _ _ . .
. ounces.. 490
. . do.... 20,200
Tiii 11 inn mfidp _ . .
. do....
14,756
Ore assays made for gold and silver .
Hro qccottc TTI aH A for nASA TTlPtills . . . .
. do....
. do _
58
42
Coch nrA assays made . . . .
. do _
12
Slag assays from melting room .
Special bullion assays made .
Mutilated domestic coins tested .
. do....
. . do _
98
124
264
ASSAY OFFICES AT NEW ORLEANS, CARSON, BOISE, HELENA, DEAD-
WOOD, SEATTLE, AND SALT LAKE CITY.
These offices were open throughout the fiscal year 1915, as usual,
for receipt of deposits of bullion. The following table exhibits the
principal work of each office and further details will be found in
tables in the appendix:
Minor assay offices located at —
Items.
Deposits received - . .number. .
Weight before melting, ounces.
Weight after melting . . .do —
Loss in melting . do -
Loss in melting . per cent. .
Value of deposits, gold, dollars.
Cost value deposits, silver,
dollars .
Weight bullion shipped,
ounces .
Value of gold shipped, dollars. .
Cost value of silver shipped,
dollars .
Average fineness of deposits,
gold .
Average fineness of deposits,
silver .
Assays of deposits. . .number. .
Assays of ore for gold and sil¬
ver, number . .
Assays of ore for base metal,
number .
Assays for other offices, num¬
ber .
Assays of mutilated coin, num¬
ber .
Assays, special bullion, num¬
ber .
Cupels made . number. .
Cupels used . do —
Crucibles used . do —
Melts of bullion made. . . do —
Mass melts of bullion made,
number .
Quartation silver made,
ounces . .
Quartation silver used, ounces.
Proof gold received . do —
Froof gold used . do —
Proof silver received - do. . .
Proof silver used . do —
New Or¬
leans.
Carson.
Boise. Helena.
407 634
35,745.78 19,300.50
35,508.98 18,040.21
236.80 1,260.29
.662 6.530
495,758.64 228,445.39
3,991.15 3, 214. €
38, 28S. 20 17, 448. 24
593,535.75 227, 758. OS
870 555
103,966.54 75,605.52
100,456. 94 66,768.39
3,509.60 8,837.13
3.375 11.687
851,155.10 600,581.28
4,924.59
011.0
185.0
2,314
212
12;
3,000
2,600
75
425
22
80
65
4.84
S.2S
798,473.50 575,493.21
3,222.04
651.5
319.5
2,919
8
8
3,500
2,919
92
654
29
50
50
5.56
.71
23,585.67
94,390.30
17,557.97
61,324. 34
22,202. 52
410.0
470.0
2,810
3,000
2,850
63
90S
17
100
80
4.95
4.50
16,753.72
435.1
525.6
3,684
4
4,000
4,000
164
623
25
204
51
12.60
7.60
Dead-
wood.
io:
80,002.36
79,687.88
314. 4S
.393
684, 319. 09
19,503.15
71,969.66
677,478.16
19,503.22
414.0
486.0
10S
590
18
50
2,750
2,500
522
114
1
25
9
3.S9
2.50
Seattle.
2,288
555,323.80
550,738.55
4,585.25
8.025
8,699,896.99
52, 789. 42
605,597.96
9,292,605. 81
55,600.88
764.9
183.0
14,756
58
42
264
124
20,200
16,425
183
2,401
79
490
400
20
25
Salt Lake
City.
167
4,253.53
4,076.08
177.45
4.172
47.592.48
703.19
3,339.13
45.219.49
576.15
564.8
345.6
1,240
1,500
1,350
19
191
33
16
2.59
.84
Officers in charge of minor assay offices.
Assay office.
New Orleans...
Carson .
Boise .
Helena .
Dead wood .
Seattle .
Salt Lake City .
Number
of em¬
ployees.
Assayer in charge.
Date of oath.
Leonard Magruder ....
Edward Rvan .
C. F. Pike..
Herbert Goodall.. ..
James E. Russell. ..
John W. Phillips .
Charles Gammon
Dec. 1,1914
Mar. 1,1915
July 1,1915
Oct. 1,1914
Oct. 26,1914
Sept. 1,1914
Jan. 13,1914
Succeeded—
W. M. Lynch.
Andrew Maute.
Joseph Pink ham.
T. B. Miller.
L. P. Jenkins.
C. E. Vilas.
J . 1J. ElcLredge. jr.
OPERATIONS OF THE MINT SERVICE,
49
The number and value of deposits, tho incomo (including seignior¬
age), and the expenses of the fiscal year 1915, and the number of
employees on June 30, 1915, at each institution are given below:
Deposits, income, expenses, and employees, by institutions.
Institution.
Philadelphia....
San Francisco. .
Denver .
New York .
New Orleans. . .
Carson City .
Boise .
Helena .
Dead wood .
Seattle .
Salt Lake City.
Total.
Number of—
De¬
posits.
Rede¬
posits.
6,132
15,254
6,496
14,449
407
634
870
555
107
. 2,260
167
164 !
130
1,271
673
28
. 47,331
2,266
Value of gold
and silver
deposits.
73,581,378.60
24,256,142.00
02,531,527.42
500,833.29
237,317.08
910,502.90
049,097.50
738,037. 93
8,8-10,215. 21
49,540.02
Incomo.
$1,978,212.01
709,415. 75
1,317,014.53
176,318.66
1,984.12
1,831.11
6,363.55
2,918.90
1,927.83
5,956.01
979. 62
4,262,922.69
Expenses.1
$462, 452. 60
205, 650. 76
175,587. 06
190,815. 94
12,837.86
7,588.94
8,191.72
8,491.09
0, 796. 32
45,134.08
5,210.01
$4,805.75
Freight
on
bullion
and
coin.
Em¬
ployees,
June
30,
1915.
715. 85
397. 98
997.41
630.16
345.00
11,685.51
56.02
1,128,756.44 19,693.68
323
118
95
89
9
5
5
5
5
19
3
676
1 Includes freight on bullion.
OPERATIONS OF THE MELTER AND REFINERS AND THE COINERS,
FISCAL YEAR 1915.
The quantity of metals operated upon in the different departments
of the mints and assay offico at New York during the fiscal year 1915
aggregated 17,261,446 fine ounces of gold and 27,564,311 fine ounces
oi silver. There were also operated upon at the coinage mints
51,196,344 ounces of minor coinage metal. The figures in the table
following are the aotual figures as obtained at the settlements of the
accounts: GOld.
Institution and
department.
Amount
delivered by
superin¬
tendent.
Amount
returned to
superin¬
tendent.
Amount
operated
upon. a
Philadelphia Mint:
Molting and
refining .
Coining .
Fine ounces.
1,001,792.908
851,765.650
6,220,640.700
2,950,537.983
3,392, 496. 101
865,956. 276
3,520, 770. 81C
Fine ounces.
1,002,088.702
851,746.523
6,220,945.697
2,950,522.846
3,392,634.774
865,965.600
3,520,822.130
Fine ounces.
1,002,088.702
850,660. 785
6,220,945.697
2,816, 245.890
2, 276, 832. 835
573,900.975
3,520,770.810
San Francisco
Mint:
Melting and
refining .
Coining .
Denver Mint:
Molting and
refining .
Coining .
New York assay
office: Melting
and refining .
Total:
Melting and
refining .
Coining .
14,135, 700. 51f
4,668, 259. 90S
1 14, 136, 491. 303
) 4, 668, 234. 9013
13,020,63S. 044
1 4,240,807.650
Grand total .
IS, 803, 960. 42J
jjl8, 804, 726727^
\ 17,261,445. 694
Legal
allow¬
ance of
wast¬
age on
mouni
deliv¬
ered.
Actual
surplus.
Fineoz.
1,002
426
6,220
1,475
3,392
433
Fineoz.
295. 794
3,521
14,135
2,334
16^469
304.997
138.667
9.324
51.320
Actual
wast¬
age.
Wast-
W
ounces
oper¬
ated
upon.
Per¬
centage
of good
coin
pro¬
duced
to
amount
oper¬
ated.
Fine oz.
Fineoz.
Per
cent.
19.127
0.0225
40.95
if. i37
.0054
50.56
41.06
|
50
REPORT of the director of the mint.
SILVER.
Institution and
department.
Philadelphia Mint:
Melting and
refining .
Coining .
San Francisco
Mint:
Melting and
refining .
Coining .
Denver Mint:
Melting and
refining .
Coining .
New York assay
office: Melting
and refining .
Total:
Melting and
refining .
Coining .
Grand total .
Amount
delivered by
superin¬
tendent.
Amount
returned by
superin¬
tendent.
Amount
operated
upon.
Legal
allow¬
ance of
wast¬
age on
amount
deliv¬
ered.
Actuul
surplus.
Actual
wast¬
age.
Wast¬
age per
1,000
ounces
oper¬
ated
upon.
Per¬
centage
of good
coin
pro¬
duced
to
amount
oper¬
ated.
Fine ounces.
8,079,703. 43
7,677,302.68
o rm Rea is
Fine ounces.
8,082,003.92
7,676,847.89
3,035,591.32
1,091,220.67
3,500,950.42
1,557,671. 14
4,799,310.88
Fine ounces.
8,082,003.92
7,620,289. 47
3,035,591.32
979,964.82
2, 076, 658. a3
969,140.52
4,800,663.17
Fine oz.
12,119
7,677
4,550
1,091
5,254
1,558
7,201
Fine oz.
2,300.49
Fine oz.
Fine oz.
Per
cent.
2,003. 14
454.79
0.0396
53.57
a. UOO| i X>0* lo
1,091,308.27
3,502,401.26
1,558,004.44
4,800,663.17
87.60
1,450.84
333.30
1,352.29
.089i
.6988
59.71
.3439
.2817
65.95
19,416,356.04
10,326,615. 39
19,417,856.54
10,325,739. 70
17,994,916. 44
9, .569, 394. 81
29,124
10,326
4,303.63
2,803. 13
875.69
29,742,971.43
29,743,596.24
27,564,311.25
| 39,450
4,303.63
3,678.82
NICKEL.
Philadelphia Mint-
Melt mg and
refining .
Coining .
San Francisco
Mint:
Melting and
refining .
Coining .
Denver Mint:
Troy ounce s.
11,355,557.24
11,929,930.00
1,776,395.96
860,103.20
Troy ounces.
11,305,957.18
11,920,318.33
1,774,542.03
859,385.53
Troy ounces.
11,355,557.24
10,854,839.90
1,776,395.96
845, 143.60
Melting and
refining _
Coining .
2,985,185.73
2,620,615.80
2,978,964.97
2,616,791.95
2,514,158. 10
2,459,553.90
Total:
Melting and
refining .
Coining .
Grand total .
16,117,138.93
15,410,649.00
16,059,464.18
15,396,495. 81
15,646,111.30
14,159,537. 40
31,527,787.93
31,455,959.99
29, 805,648. 7(
Troyoz.
Troy oz.
Troyoz.
29,600.06
9,611.67
Troyoz.
2.6067
Per
cent.
.
.
.8835
49.28
1,853.93
717.67
6 220.76
1.0438
.8493
65.41
2.4744
3,823.85
1.5550
70.34
37,674. 75
14,153. 19
51,827.94
_
—
BRONZE
Philadelphia Mint :
Meltmg and
refining .
Coining .
San Francisco
Mint:
Melting and
refining .
Coining.
Denver Mint’ .
Melting and
refining
Coining..’"”]
Total:
Melting and
refining....
Coining...".]’
Grand total
9,558,257.42
7,704,833.40
1,023,076.33
801,107.80
2,947,255.36
2,298,892.00
ffftasiaasg
21,333, 422.31
V thp superintendent^raUve^Sl"
Q. u ooo°; silver, o.ooi. tes> 13 “ follows: Melter and refiner— Gold, 0.001, sii'*
9,548,181.42
7,702,590.20
1,018,467.70
800,649.64
2,938,026.86
2, 298, 002. 20
9,558,257.42
5,857,308.90
1,023,076.33
674,254.70
2,326,316.85
1,951,481.00
24, 305, 918. 02 111, 390, 695. 20
10,076.00
2,243.20
4,608.63
458.16
9,228.50
889.80
23,913.13
3,591.16
1.0541
.3829
4.5245
.6797
3.9675
.4560
48.35
68.00
OPERATIONS OF THE MINT SERVICE,
51
WASTAGE AND LOSS ON SALE OF SWEEPS, 1915.
The value of the precious metals wasted in the metallurgical and
mechanical department was S3, 830. 72. A loss of $3,955.02 occurred
from difference between the assay value of the bullion contained in
sweeps sold and the amount received for the same, as described
in the following table:
Wastage by departments.
Mint at—
Assay
office at
New
York.
Total.
Philadel¬
phia.
San Fran¬
cisco.
Denver.
Gold wastage:
Melting and refinine department .
Coining department . .
$195.39
$312.91
1708.30
1,564.50
485.57
541. 27
181.66
283. 51
65.91
3,524.06
40.71
382.15
8.10
Silver wastage:
Melting and refining department .
$S0o. 86
185.13
63.91
25.10
133.55
38.56
799.55
$758.64
Coining department .
252.77
452.56
146.96
100. 97
22.48
379.66
40. 71
113. 79
8. 10
47.67
24.80
9.60
48.99
4.87
559.38
Nickel wastage:
Melting and refining department .
Coining department .
Bronze wastage:
Melting and refining department .
Coining department .
Gold loss on sale of sweeps:
Melting and refining department .
Coining department .
1,785.47
Silver loss on sale of sweeps:
Melting and refining department .
Coining department .
37.56
45.61
185. 19
Total wastage and loss .
Reimbursement, wastage:
From contingent appropriation .
From minor-coinage profits .
Reimbursement, loss on sale of sweeps-
From contingent appropriation .
Total reimbursements .
1,913.39
1,045. 78
2,097.27
2,729.30
7, 785. 74
648.16
722. 97
542.26
360.58
88.26
596.94
990.99
261. 12
845.16
758.64
1,970.66
2,758.37
1,072.35
3,955.02
1,913.39
1,045. 78
2,097.27
2,729.30
7,785.74
GAIN FROM OPERATIONS.
The net gain from operations on bullion during the fiscal year 1915
amounted to $57,690.04, as follows:
Character of gains.
Mint at—
Assay
office
at New
York.
Minor
assay
offices.
Total.
Philadel¬
phia.
San Fran¬
cisco.
Denver.
Surplus bullion recovered by operative
officers . .
$7,393.18
5,449.74
$7,394.97
2,033.56
$3,059.24
2,880.09
$1,060.88
11,680.30
$18,908. 27
30, 073. S4
155.93
314.20
14,951.20
Value of deposit, melting-room grains and
Net gain on bullion shipped from assay
$S, 030. 15
155.93
Gain on light-weight gold coin purchased
280.35
33.85
13,972.66
for coinage . . . .
Receipts from sale of by-products .
Total .
Less wastage and loss on sweeps .
Net gain from bullion operations ....
755.56
222.98
13, 123.27
1,190. 43
10,184.09
957.52
6, 102.31
1,836. 15
26, 747. 69
2, 729.30
8,186.08
64,403.44
6,713.40
11,932.84
9, 226.57
4,326.16 24,018.39
8, 186.08
57, 690, 0-1
52
REPORT OF THE DIRECTOR OF THE MINT.
Receipts and disposition of gold bullion, fiscal year 1915.
RECEIPTS.
Institution.
Philadelphia...
San Francisco . .
Denver .
New York .
New Orleans . . .
Carson City
Helena .
Boise . .
Dead wood .
Seattle .
Salt Lake City .
Total.
Deposits.
Uncurrent
United States
coin trans¬
ferred for
recoinage.
Surplus
bullion
recov¬
ered.
Redeposited
receipts from
mints and
assay offices.
$1,712,550.40
71,098,741.21
. 22,557,046.87
63,023,411.89
495,435.38
228,053.36
600,465.30
4Q4 4^
$3,349,563.94
9,179.27
$3,924.85
7,893.39
5,302.34
9,117. 95
232.06
392.08
116. 38
349. 89
308.86
422.39
97.24
i $2,875,878.05
244, 131. 13
11,447,997.30
47,052,860. 10
* 100.00
otO, ‘i trx .
aqa nin 93
UO'x, U1U. 40
o 70Q 71^ Q1
O* / w, i lO* J/l
47, 495. 24
. 170,003,418.22
3,358,743.21
28,157.43
61,620,966.58
Total.
$7,941,917.24
71,359,945.00
34,010, 346.51
110,085,389.94
495.767.44
228.445.44
600,581.68
846,844.32
684,319.09
8,710, 136.30
47,592.48
235,011,285.44
into Cuban coin.
2 Proof metal.
DISPOSITION.
The disposition of gold bullion contained in the above table is as
follows:
Institution.
Bars paid
depositors.
Transfers.
Sold in
sweeps.
Bars ex¬
changed
for coin.
Coinage
executed.
Wast¬
age.
Total.
Philadelphia .
San Francisco....
Denver .
New York .
\Taw rirloanc
$274,892.11
3,773.00
4,303,568.03
$45,231,652.65
2,875,878.05
593,535.75
227,758.08
575,493. 21
846,844.32
684,478.16
9,292,605.81
45,219. 49
$2,530.53
11,663.71
16. 530. 28
23.870.28
$1,511,973.59
100,814.60
25,510.65
35,213,343.34
$5,252,817.50
29, 490,500.00
5, 790,000.00
$312.91
8, 166.30
2,962.54
i 497.06
2 70. 19
$7,042,213.73
29,607,064.22
51,071,859.88
42,419,622.24
594,032.81
227,828.27
575,493.21
846,844.32
684,478. 16
9,292,605.81
45,219.49
TT nl an Q
Turkic/*
D/m rl
QaatflA
Salt Lake City....
Total .
4,582,233.14
60,373,465.52
54,594.80
36,851,642. 18
40,533,317.50
12,009.00
142,407,262. 14
1 Allowed by Comptroller of Treasury from proceeds of assayer’s sweeps.
2 Loss in mass melting, etc.
BALANCES, RECEIPTS, AND DISBURSEMENTS.
Balances of gold bullion on hand June 30, 1914, and receipts, dis¬
bursements, and balances June 30, 1915, at the mints and assay
offices are shown in the following table :
Institution.
Balance on
June 30, 1914.
Receipts dur¬
ing fiscal
year 1915.
Total.
Disbursements
during fiscal
year 1915.
Balance on
June 30, 1915.
Philadelphia .
San Francisco .
Denver .
New York .
New Orleans .
Carson City .
Helena .
Boise .
Dead wood .
Seattle .
Salt Lake City .
Total .
$10,818,781.18
166, 270,031. 06
77,056, 141.03
19,481,159. 19
105,678.54
1,412. 12
1,293.14
100.00
238.29
584,072.03
856.54
$7,941,917.24
71,359,945.00
34,010,346.51
110,085,389.94
495, 767.44
228, 445. 44
600,581.68
846,844.32
684,319.09
8,710, 136.30
47,592. 48
$18,760,698.42
237,629,976.06
111,066, 487.54
129,566,549. 13
601, 445.98
229,857.56
601,874.82
846,944.32
684,557.3 8
9,294,208.33
48, 449.02
$7,042,213.73
29,607,064.22
51,071,859.88
42,419, 622.24
594,032. 81
227,828.27
575,493.21
846,844.32
684,478. 16
9,292,605.81
45,219.49
$11,718,484.69
208,022,911.84
59,994,627.66
87,146,926.89
7,413.17
2,029.29
26,381.61
100.00
79.22
1.602.52
3.229.53
274,319,763.12
235,011,285.44
509,331,048.56
142,407,262. 14
366,923, 7S6. 42
53
OPERATIONS OF THE MINT SERVICE.
LABORATORY OF THE BUREAU OF THE MINT.
From the coinage of the calendar year 1914 the assayer of this
bureaii tested -70 gold and 266 silver coins, all of which were found
within the legal requirements as to weight and fineness.
in the gold corns the greatest deviation in fineness above standard
(the legal limit being 1 above or below) was 0.5, while the greatest
deviation below was 0.5.
The greatest deviation in fineness of silver coins above standard
(the limit being 3 above or below) was 1.3, while the greatest deviation
below was 1.7.
The following table and statement summarizes these assays:
Fineness.
Philadelphia.
San Francisco.
Denver.
Total.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
898.3 .
e
1
1
1
3
4
10
1
1
1
7
14
25
.0. ...............
.7 .
.9 .
4
9
9
899.1 .
1
6
.3 .
.5 .
1
2
4
7
12
26
9
9
4
2
6
25
40
34
31
5
3
3
8
32
51
64
73
21
12
4
.6 .
15
6
19
40
.7 .
3
4
18
16
7
.8 .
26
9
13
48
.9 .
900.0 .
16
6
4
26
.1 .
.2 .
28
10
14
52
.3 .
.4 .
15
10
3
28
.5 .
2
2
.7 .
5
6
1
1
2
3
2
6
10
5
2
.9 .
2
1
901.1 .
.3 .
Total .
76
134
146
56
48
76
270
266
Average fineness .
899.997
899.937
899.855
900.091
899.942
899. 714
899. 910
899.906
Samples representing certificate bars made at the various offices
have been forwarded to the bureau for test assaying and in general
every fifth melt has been tested. During the year the examination
of minor coins was inaugurated and 1,034 nickels and 63 cents were
examined. Sixteen Philippine coins were examined and all of them
found within the legal requirements.
PROCEEDINGS OF THE ASSAY COMMISSION, 1915.
The following-named gentlemen were designated by the President
as commissioners to examine and test the weight and fineness of the
coins reserved at the several mints during the calendar year 1914,
pursuant to the provisions of section 3547 of the Revised Statutes
of the United States :
1. Maj. Wm. O. Owen, United States Army (retired), 2719 Ontario
Road, Washington, D. C.
2. Hon. Wm. A. Ashbrook, ranking member of Committee on
Coinage, Weights, and Measures, House of Representatives. (Mem¬
ber of commission in 1908 and 1910.)
54
REPORT OF THE DIRECTOR OF THE MINT.
3. James A. Bryan, Newbern, N. C.
4. Wm. L. Saunders, Plainfield, N. J.
5. John L. McNeil, Durango, Colo.
6. Hugh Dougherty, Indianapolis, Ind.
7. Prof. Charles W. Kent, University of Virginia.
8. Hugo C. Rothert, Huntingburg, Ind.
9. A. W. Kopp, Platteville, Wis. (Former Member of Congress.)
10. Prof. 0. M. W. Sprague, Harvard University.
11. L. A. Fischer, physicist, Bureau of Standards, Washington,
D. C. (Member commission 1905, 1911, 1913, 1914.)
12. Leonard P. Morgan, Philadelphia, Pa. (Member commission
1914.)
13. R. S. Hawes, St. Louis, Mo.
14. Dr. Owen L. Shinn, University of Pennsylvania. (Member
commission 1907, 1910, 1911, 1912, 1913, and 1914.)
15. Hon. H. C. Groff, Victor, Mont.
16. Hon. Kenyon B. Conger, Irvington, N. Y.
The commission met at the mint at Philadelphia, Wednesday,
February 10, 1915, and Hon. Wm. A. Ashbrook was elected chainnan.
The following committees were appointed by the chairman with the
approval of the commission:
Committee on counting. — Mr. John L. McNeil, chairman, Messrs.
Hawes, Kopp, and Rothert.
Committee on weighing. — Mr. Kenyon B. Conger, chairman; Messrs.
Dougherty, Fischer, and Morgan.
Committee on assaying. — Dr. Owen Louis Shinn, chairman; Messrs.
Comings, Groff, Kent, and Owen.
Mr. Fischer suggested that a committee on resolutions be appointed
by the chair, and Mr. Ashbrook appointed the following:
Committee on resolutions. — Hon. A. W. Kopp, chairman; Messrs
Dougherty and Groff.
The committee on counting reported that the packages containing
the pieces reserved by the several mints for tlm trial of coins, in
accordance with section 3539 of the Revised Statutes, were delivered
to us by the superintendent of the mint at Philadelphia. That the
packages delivered were compared with the transcripts kept by the
Director of the Mint, and the number of each delivery and the pieces
contained in the packages were found to be correct. After verification
of the packages the coins were delivered to the committee on weighing
and assaying. & %
The coins reserved by the mints for the purposes of the assav
commission were as follows : J
Mints.
Gold.
Silver.
Pieces.
Value.
Pieces.
Value.
Philadelphia .
747
1,969
1,494
$5,430
33,355
14,895
11,873
1,678
7,480
$1,682.50
386.00
976.60
San Francisco .
Denver .
Total United States .
4, ‘210
53,680
21,031
989
3,045. 10
69.40
San Francisco, Philippine coinage .
Total .
4,210
53,680
22,020
3,114.50
OPERATIONS OF THE MINT SERVICE.
55
The committee on weighing reported that they had examined
sample coins selected at random from those reserved by the several
mints. The weighing was done on a balance made by Henry
Troemner, of Philadelphia. The weights employed were furnished
by the Director of the Bureau of Standards, and were accompanied
by a cetrificate stating their variation in mass from the standards
fixed by law. The balance was carefully tested and found to be suffi¬
ciently accurate without making corrections.
Certain of the working standards of the mint, selected at random,
were intercompared, with the following results:
500 ounces = 400 ounces + 100 ounces + 0.0014 ounce; 300 ounces =
200 ounces + 100 ounces - 0.0000 ; 200 ounces = 100 ounces + 50
ounces + 30 ounces + 20 ounces + 0.0001 ounce; 100 ounces = 50 ounces
+ 30 ounces + 20 ounces + 0.0003 ounce. The 2 ounces + 10 ounces
were found equal to the standard troy pound to within 3 parts in
100,000; and the working standards of the Philadelphia Mint agreed
with the standard troy pound to within 4 parts in 100,000; the
20-centavo and 10-centavo weights used in testing I hihppme coins
were carefully checked against a set of metric weights winch had
been verified by the Bureau of Standards and found to be in satis-
f a The^ (xmimittee on assaying reported: In compliance with section
3547 of the Revised Statutes, receiving and making assays of the
coins reserved from the United States mints at Philadelplna, ban
Francisco, and Denver for assay. . .. . . . . , *
The results of the assays made of the individual coins and ol the
same in mass are given in the following schedules. From these it
WiThe highest assay value of the gold coinage at the different mints
(the limit of tolerance being one one-thousandth) is at
. 900.2
Philadelphia . . . 900. 4
San Francisco . 900.2
DeThe lowest assay value of the gold coinage at the different mints
(the limit of tolerance being one one-thousandth) is at
Philadelphia .
San Francisco .
Denver .
. 899.6
. 899.6
. 899.8
The highest assay value of the silver coinage at the different mints
(the limit of tolerance being three one-thousandths) i» at
Philadelphia .
San Francisco .
Denver .
. 901.1
. 900.4
. 900.2
The lowest assay value of the silver coinage at the different mints
(the limit of tolerance being three one-thousandths) is at—
Philadelphia . . .
San Francisco . . .
Denver . . .
The highest assay value of the Philippine silver coinage is at-
San Francisco (subsidiary) . . . .
The lowest assay value of the Philippine silver coinage is at-
rpi ^mmittea has tested the quartation silver and found it to be,
for ^"«,?ree from gol3, and the lead used in the assay of
750.0
749.0
56
REPORT OF THE DIRECTOR OF THE MINT.
gold bullion to be free from gold and silver. The acid used in the
numid assay of silver was found to be free from chlorine.
The balances used were tested and found to be correct.
The committee therefore deem the assays to be entirely trustworthy.
The following report submitted by the committee on resolutions
was unanimously adopted:
Whereas the Annual Assay Commission, appointed by the President of the United
States to examine and test the •weight and fineness of the gold and silver coins reserved
by the different mints of the United States, has held its meeting in the city of Phila-
delphia on February 10 and 11, 1915; and . , . , „
Whereas the commission has about completed its labors, the committee on resolutions
begs leave to offer the following resolutions: . . .
First. That the commission renews the recommendation of prior commissions witn
reference to the maintenance and increase of the national coin collection of the mint
at Second61?'^ in the opinion of the commission, in order to facilitate this work, an
official souvenir mint medal, of typical and characteristic design, should be struck
off and a descriptive booklet of the mint published to be sold at a moderate price to
visitors at the mint; that the proceeds from such sales be devoted exclusively, under
the supervision of the Secretary of the Treasury, to the extension of this national
collection of coins and medals at the Philadelphia Mint, as aforesaid.
Third. That in the opinion of the commission there should be an annual appropria¬
tion by Congress of $2,000 for the purpose of extending this collection, as aforesaid.
Fourth. That a letter be written under the hand of the chairman and secretary
of this commission to the Secretary of the Treasury recommending to him that the
above amount be included in the annual estimates for the purposes aforesaid and
further suggesting that he recommend to Congress the desirability of authorizing the
mint medal and descriptive booklet referred to herein; and be it further
Resolved That the thanks of the commission be. and they are hereby, heartily
tendered to Hon. William P. Malburn, Assistant Secretary of the Treasury; Hon.
F. P. Dewey, Acting Director of the Mint; Mr. Leonard P. Morgan, secretary of the
commission; to Mrs. Virginia Carpenter, and to various other officials and employees
of the mint for the uniform courtesy shown the commission during its session.
Respectfully submitted. .
A. W. Kopp, Chairman.
Hugh Dougherty.
H. C. Groff.
MOVEMENT OF GOLD FROM THE PORT OF NEW YORK.
The superintendent of the United States assay office at New York
has prepared the following table, giving exports of gold through the
port of New York:
Statement of United States gold coin and gold bullion exported from the port of New York
to Europe during the fiscal year ended June 30, 1915 .
Date.
Country.
Amount.
Rate of
exchange.
1914.
Tnlxr 7
Frfinoo . . . . . .
$386,000
500
$4.8775
4.875
July •
13
Holland . . . . . . . .
23
Franco . . .
2,473,006
4,764,333
11,004,657
4,981,318
2,545,146
8,803,815
8,307,096
100,000
4.880
27
27
fin . . . . .
4.890
England... . . . . . .
4.890
28
28
Hn . . . . . . . . . .
4.910
France. . . . . . . . .
4.910
30
England . . . . . . . . .
4.960
31
Aug. 4
do . . .
do . . . . . . . . . .
m
France. . . . . . . .
4,825
A\
7
England . .
435,000
119,500
2,000
M
14
14
About 5.000
France .
About 5.000
OPERATIONS OF THE MINT SERVICE
57
Statement of United States gold coin and gold bullion exported from port of New York
to Europe during the fiscal year ended June 30, 1915 Continued.
Date.
Country.
Amount.
Rate of
exchange.
1914.
Aug. 14
15
19
Sept. 2
$100,500
50,000
15,000
305,000
100,000
About 5. 000
^995
5
5
29
30
Oct. 10
Nov. 21
50,000
500
16,400
152
4,000
400
4.985
4.970
4.8825
4.87625
Dec. 5
1915.
May 8
Italy .
50,000
4.800
44,619,148
i No quotation.
Recapitulation of gold exports to Europe.
Country.
United
States coin.
Foreign
bullion.
Foreign
coin.
Total.
$502,000
25,683,500
500
150,000
$9,282,485
8,491,886
$390,825
652
$10, 175,310
34,176,038
500
150,000
16,400
Italy .
16,400
26,352,400
17,774,371
100,900
492,377
100,900
44,619,148
During the same period there were
United States coin .
Foreign bullion . * . . . . .
Foreign coin .
Total gold exports to Europe .
shipped to other points.
. ::
. """""""I.. 3,038,429
777 $6,873,306
. . 44,619,148
. 51,492,454
Grand total gold exports .
The imports during the same period were as follows:
From Europe:
Foreign coin . .
Foreign bullion .
1 . .
From other points:
United States coin .
Foreign coin .
Foreign bullion .
Bullion in ore .
Total .
Grand total gold exports . .
$13,448,332
2 528,795
239,643
. Z $16,214,770
029,000
084,789
237,713
92,814
. 13,444,316
. 29,659,086
58
report of the director of the mixt.
XET EXPORTS, UNITED STATES GOLD COES'.
The net exports of United States gold coin since 1870 were as
follows. Import* and export* of United State * gold coin tince 1870.
fiscal years.
Jan. 1 to Jan* 30—
1ST) .
isn .
1S72 .
1ST3 .
1974 .
1S75 .
1S75 .
1ST7 .
1S79 .
1579 .
1SS0 .
13S1 .
1552 .
1553 .
1554 .
1555 .
1985 .
18S7 .
ISsS . -
18^8 .
1390 .
1391 .
1392 .
1393 .
1994 .
1395 .
• i
Imports.
Exports.
Fiscal years.
Imports.
Exports-
(*)
612,755.301
55,491,719
40,391.357
35,661.563
2s ^56. *43
59.309,770
27.642.561
21,274.565
£ ±-y~ <ki ,
Jan. 1 to June 30 —
Continued.
liQ6 .
S10.lSe.6H
$77, 739- $92
IS&7 .
57.725.797
40,583.495
23.646.535
v)
8-402,216
.
1^99 .
7,779.123
27.419.737
0)
1500 .
5.659.556
30.674.511
1901 .
3.311.105
8.425.947
si
*7,325,78*
3,694,iM
1S.20T.55&
7,577.122
4.796.630
S. 112, 355
3.524.962
3.352. 0S0
1.6S7.231
5.562.509
5.181,513
1.403.619
1.SM9.552
1902 .
1903 .
3.870.320
1,519.756
9.370,541
IS. 041.660
4,120,311 |
l,6e-,973 i
1,741,364
29,505.2®
1904- .
1905 .
19<j$ .
5,790.607
2.236.399
35,251.921
15.652.424
54.409.014
20,573.572
1907 .
41.445.102
22.632.253
190* .
41.929.515
25.246. 170
4. 5*E£. vi
12.212.021
2.345.509
5.400.975
3,550.770
3,211.399
4,113,939
3,951.736
1909 .
4.642.690
66, 135. *5©
1910 .
2.050.563
86.329.314
1911 .
6.041.646
20.651. 275
1912. .
6.2S3.968
25.677.37S
1913 .
1914 .
1915 .
13,941,210
26.045. 559
iw.oei.sn
34. 238. €21
66 997.030
124.535,901
2,524.146
15.432.413
6,071. «0S
67,701.900
42.5411953
Total .
565,307,799
1.456,301,391
101.5M.W7
64.303,540
55.096,639
Net exports.
901.091,093
30,790, 392
10,.a2.673
i Imports of United States gold com
not separately prm prior to tbe fiscal year
1S7S.
STOCK OF MOXEY IX THE EXITED STATES.
On June 30, 1915, the stock of domestic coin in the United States
was $2 .360,106,937, as shown by the following table:
Official table of stock of coin it i the United State* June SO, 1915.
Items.
Gold.
Silver.
Total.
Estimated stock of coin Jane 30, 1914 . . — : .
Xet imparts United States com, fiscal year 19Lx .
*1.397.051,153
4X533.768
3730,279. 165
9C0.945
3,353.033
32,347.36X330
SCO. 045
43,956,^01
V. V«<i ■ ^ * 1 * - # -
1.637.594,953
734.532,243
2,392,127,196
LeSUnised States coin melted far recoinage, face value.
United States coin used in the arts, estimated, ns-
4.244.903
3.300.CW)
23, 445,028
730,328
100.000
4,975,231
3.6»XCC0
23.445.02S
United States coin, net exports, fiscal year 1915 .
31. 189.921
S»X 338
32.000.259
Estimated stock of coin in United States Jane 30, 1915. .
1.605.405,032
733.701.905
2.360.105.937
v _-rv„ namter of <3'_ind»rd sBrvr ddLsxs coined to Jane 30, 1915, was 570,^72. «W, which, added to
ti2 TTuniiaa <MW to 900.000. plus the camber Imparted tram tbe Philippine Iiiindi. 150000, and
wnsparts. W.sJT^tals 571.119.4* sfaceJulyl. l**sjbe =am-
XCfT dallars exported In tnnsixxts Ijb been S.etejOOO: andsmee lSs» the nmnbwmri^
mi (ms bee® 197.67*, and tbe camber of Hawanin dolisrs melted to Jane 30, 1915, has been
^ of hlC.'ll.leaviiM: in tbe United States on Jane 30, 1915, oSMnjiii standard
Srer dollars and IS,«J0^M dollars in subsidiary s2v*r coins.
OPERATIONS OF THE MINT SERVICE,
59
Bullion in mints and assay offices June SO, 1915.
Bullion.
Value.
$366,925,169
4, 337, 516
371,262,685
Metallic stock June SO, 1910, 1911, 1912, 1913, 1914, and 1915.
Coin and bullion.
June 30, 1910.
June 30, 1911.
June 30, 1912.
June 30, 1913.
June 30, 1914.
June 30, 1915.
Gold .
81,635,424,513
727,078,304
$1,753,134,114
732,002,448
$1,812,856,241
741,184,095
$1,866,619,157
745,585,964
$1,871,611,723
753,563,709
$1,973,330,201
758, 039, 421
Silver .
Total .
2,362,502,817
2,485,136,562
2,554,040,336
2,612,205,121
2,625,175,432
2,731,369,622
Ownership of gold and silver in the United States June SO, 1915.
Ownership.
Gold coin
and bullion.
Silver coin and bullion.
Total gold
and silver
coin and
bullion.
Silver
dollars.
Subsidi¬
ary coin.
Silver
bullion.
Total
silver.
United States Treasury (free) . . .
United States Treasury (lor certi-
ficates outstanding) .
National banks (June 30, 1915) . .
National banks(for clearing-house
$235,437,399
1,135,313,619
121, 172,646
74,058,500
407,348,037
$21,654, 104
481,970,395
12,427,405
$26, 164,295
21,192,225
$4,337,516
$52, 155,915
481,970,395
33, 619, 630
$287,593,314
1,617,284,014
154,792,276
74,058,500
597,641,518
certificates) . --------
Private banks and individuals. .
Total .
52,219,751
138,073,730
i90,293,48i
1,973,330,201
1
568,271,655
185,430,250
4,337,516
758,039,421
2,731,369,622
Location of moneys of United States June SO, 1915.
Money.
METALLIC.
Gold bullion .
Silver bullion .
Gold coin .
Silver dollars .
Subsidiary silver coin .
Total metallic .
PAPER.
Legal-tender notes (old issue) . ...... - -
Legal-tender notes (act July 14. 1910) . .
National-bank notes .
Federal reserve notes .
Total notes.
Gold certificates. .
Silver certificates.,
Total certificates .
Grand total .
banks.
In Treasury.
In national
banks
June 30, 1915.
In other banks
and in
circulation.
Total.
— r
$366,925, 169
4,337,516
1,003,825,849
503,624,499
26, 164,295
$366,925, 169
4,337,516
1,606, 405,032
568,271,655
185, 430,250
i $195,231,1146
12,427, 405
21,192,225
$407,348,037
52,219,751
138,073,730
1,904,877,328
228,850,776
597,641,518
2,731,369,622
14,338,770
9,313
33,880,546
3,885,850
111,240,250
2 70,414,677
221,101,996
2,244,687
714, 978, 370
113.029,150
346,681,016
2,254,000
819,273,593
116,915,000
52,114, 479
181,654,927
1,051,354,203
1,285, 123,609
796,152,394
371,441,428
3S, 495,370
11,488,605
339, 161,225
110,528,967
49,983,975
449, 690, 192
1,167,593,822
.
2,006,975,782
860, 195,895
2,816, 589,543
4,016,493,231
60
REPORT OF THE DIRECTOR OF THE MINT.
Estimated stock of gold and silver in the United States arui the amount per capita at the
close of each fiscal year since 1873.
Total stock of coin and bul¬
lion.
Per capita.
Fiscal year ended June 30 —
Population.
Gold.
Silver.
Gold.
Sliver.
Total
metallic.
1873 .
41,677,000
42,796,000
$135,000,000
$6,149,305
10,355,478
19,367,995
36,415,992
56,464,427
88,047,907
117,526,341
148,522,678
175,384,144
203,217,124
233,007,985
255,568, 142
283,478,788
$3.23
9 A A
$0. 15
24
$3.38
3.68
3. 19
3.69
1874 .
147,379,493
o.
O 7R,
• Aft
44
1R75 .
43,951,000
121,134,906
Z. ID
o oo
Q1
1876 .
45,137,000
130,056,907
2. oo
O £1
• OJL
1 91
4! 82
6. 32
7 42
1877 .
46,353,000
47,598,000
167,501,472
3. Dl
A AH
1. ZL
1878 .
213,199,977
4. 47
5.02
7. 01
9. 32
9.65
10.10
9. 93
10.48
10.29
11.15
1. oO
9 A(\
1879 .
48,866,000
245,741,837
z. 4U
9 QA
1 . i*
Q Q7
1880 .
50,155,783
351,841,206
z. yo
o a 1
y. &•
19 70
issi .
51,316,000
478,484,538
o. 41
o 07
1 Z. to
TO CO
18S2 .
52,495,000
506,757,715
3. o /
A O A
13. OZ
1 a .11
1883 .
53,693,000
542,732,063
4. 34
A AC
14. 44
ii ro
1884 .
54,911.000
545,500,797
4. DO
5.05
5. 44
6.00
6. 44
6.86
14. Do
1 - CO
1885 .
56,148,000
588,697,036
lO. 03
1 C HQ
18S6 .
57,404,000
590,774,461
312, 252, 844
10. 73
17 1 1C
1887 .
58,680,000
654,520,335
352, 993, 566
17. 10
18.20
1888 .
59,974,000
705,818,855
386,611,108
11. 76
18S9 .
61,289,000
680,063,505
420, 54S, 929
11.09
17. 95
18.49
18.26
18.85
18. 13
18.31
1890 .
62,622,250
695,563,029
463,211,919
11.10
7.39
1891 .
63,975,000
646,582,852
522,277,740
10.10
8. 16
1892 .
65,520,000
664,275,335
570,313,544
10. 15
8. 70
1893 .
66,946,000
597,697,685
615,861,484
8. 93
9.20
1894 .
68,397,000
627,293,201
624,347,757
9.18
9. 13
1895 .
69,878,000
636,229,825
625,854,949
9.10
8. 97
18.07
1896 .
71,390,000
599,597,964
628,728,071
8. 40
8.81
17.21
1897 .
72,937,000
696,270,542
634,509,781
9.55
8.70
18.25
1898 .
74,522,000
861,514,780
962,865,505
637,672,743
11.56
8.56
20. 12
1899 .
76, 148,000
639,286,743
12.64
8.40
21.04
1900 .
76,891,000
1,034,439.264
647,371,030
13.45
8.42
21.87
1901 .
77,754,000
1,124,652,818
661,205,403
14.47
8.50
22.97
1902 .
79,117,000
1,192,395,607
670,540,105
15.07
8.48
23.55
1903 .
80,847,000
1,249,552,756
677,448,933
15.45
8.38
23.83
1904 .
81,867,000
1,327,672,672
682,383,277
16.22
8.33
24.55
1905 .
83,259,000
1,357, 881, 1S6
686,401,168
16.31
8.24
24.55
1906 .
84,662,000
1,472,995,209
687,958,920
17.40
8. 12
25.52
1907 .
86,074,000
1,466,056,632
705,330,224
17.03
8.20
25.23
1908 .
87,496,000
1,615,140,575
723,594,595
18. 46
8.27
26.73
1909 .
88,926,000
1,640,567,131
1,635,424,513
733,250,073
18. 45
8.25
26.70
1910 .
90,363,000
727,078,304
732,002,448
741,184,095
745,5S5,964
753,563,709
758,039,421
18. 10
8.05
26. 15
1911 .
93,983,000
1,753,134,114
18.65
7.79
26.44
1912 .
95,656,000
1,812,856,241
18. 95
7.75
26.70
1913 .
97,337,000
1,866,619,157
i 1,871,611,723
19.17
7.66
26.83
1914 .
99,027,000
18.90
7.61
26.51
1915 . .
100,725,000
l 1,973,330,201
19.59
7.53
27. 12
Stock of gold in the United States.
Year.
Coin in
Treasury.
Bullion in
Treasury.
Coin in
national
banks.
Comptrol¬
ler's report.
Fiscal year June 30:
1873 .
1874 .
1875 .
1876 .
1877 .
1878 . .
1879 .
Calendar year:
1879 1 .
1880 .
1881 .
1882 .
1883 .
1S84 .
1885 .
1886 .
1887 .
1888 .
$55,518,567
60,972,107
45,382,484
41,912, 168
76,661,703
122, 136,831
129,920,099
$15,669,981
9,539,738
8,258,706
9,589,324
10,962,169
6,323,372
5,316,376
$3,818,086
5,536,086
3,710,682
3,225,707
5,306,263
8,191,952
21,530,846
95,790,430
61,481,245
84,639, S65
119,523,136
152,608,393
in, 553, 205
75,434,379
187,196,596
182,618,963
227,854,212
61,999,892
93,789,622
88,726,016
51,501,110
65,667,190
63,162,982
72,938,221
81,431,262
123, 145, 136
97,456,289
98,104,792
92, 184,943
101,115,387
75,326,033
73,447,061
76,170,911
96,741,747
97,781,405
99,162,377
78,224,188
1 Six months ending Dec. 31, 1879.
Coin in cir¬
culation.
Total stock
of gold.
$30,000,000
39,607,488
31,695,660
44,533,218
39,058,592
39,767,529
53,601,228
$105,006,634
115,655,419
89,047,532
99,260,417
131,988,727
176,419,6S4
210,368,549
46,843,424
150,085,854
210,775,833
234,205,711
228,296,821
215,813,129
313,346,322
223,199,865
245,145,579
246,218,193
302,738,538
397,541,664
485,257,101
480,555,990
520,019,46a
526,700,227
558,460,669
589,609,128
650,072.055
649,752,882
OPERATIONS OF THE MINT SERVICE
61
Stock of gold in the United States — Continued.
Year.
Coin in
Treasury.
Bullion in
Treasury.
Coin in
national
banks.
Comptrol¬
ler’s reports.
Coin in cir¬
culation.
Total stock
of gold.
Calendar year — Continued.
1889 .
1890 . .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898 .
1899 .
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 . .
1910 .
1911 .
1912 .
1913 .
1914 .
$246,401,951
226,220,604
196,634,061
156,662, 452
73,624,284
91,781,176
83,186,960
121,745,884
152,488,113
141,070,022
257,306,366
328,453,044
417,343,064
458,159,776
478.970.232
647,261,358
662,153,801
737,677,337
788,467,689
924,316,981
934.803.233
982,586,379
1,001,413,292
995,209,422
987,678,101
880,954,878
$67,265,944
67,645,934
83,575,643
81,826,630
84.631.966
47.106.966
29,443,955
54,648,743
45,279,029
140,049,456
143,078, 146
153,094,872
123,735,775
159,971,402
209,436,811
49,187,017
101,183,778
156,542,687
162,937,136
111,041,339
97,347,289
120,726,077
183,088,870
258,857,946
303,585,254
304,354,958
$84,416,468
80,361,784
91,889,590
100,991,328
151,233,989
151,117,047
147,308,401
161,828,050
187,608,644
263,888,745
203,700,570
199,350,080
190,172,340
178,147,097
170,547,258
195,111,219
196,680,998
188,096,624
203,289,045
209,185,761
213,990,955
227,977,678
235,184,404
240,452,237
232,798,904
168,660,282
$235,434,571
274,055,833
253,765,288
242,621,832
281,940,012
248,787,867
242,644,697
251,010,816
252,419,033
286,891,578
293,387,672
307,870,474
318,388,468
324,252,498
332,730,989
325,261,922
327,549,686
376,006,767
457,995,462
411,605,432
392,507,842
378,745,080
379,941,280
385,717,711
380,631,886
451,128,764
$633,518,934
648,284, 155
625,864,582
582,102,242
591,430,251
538,793,056
502,584,013
589, 233,493
637,794,819
831,899,801
897,472,754
988,768,470
1,049,639,647
1,120,530,773
1,191,685,290
1,216,821,516
1 , 287, 568, 263
1,458,323,415
1,612,689,332
1,656,149,513
1,638,649,319
1,710,035,214
1,799,627,846
1,880,237,316
1,904,694,145
1,805,098,882
STANDARD SILVER DOLLARS USED IN SUBSIDIARY SILVER COINAGE.
There were purchased as bullion and melted at the mints and assav
offices 823 mutilated silver dollars during the fiscal ye ar 1915, which
were used in the manufacture of subsidiary silver com.
The following have been used since 1883:
Fiscal years.
Amount.
1883 .
$621
1884
1885 .
i, 850
1886
1887 .
8,292
1888 .
14,055
1889 .
31,042
1890 .
11,977
1891 .
10,800
Fiscal years.
Amount.
1892 .
$42,881
1893... .
10,500
1894 .
15,055
1895 .
18,580
1896 .
2,034
1897 .
1,898
1898 .
1,365
1899 .
1,734
1900 .
1,341
Fiscal years.
Amount.
1901 .
$1,786
1,893
1,777
1,304
2,298
909
1,548
1,170
1,293
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
Fiscal years.
Amount.
1910 .
$961
1911 .
1,320
1912 .
1,024
1913 .
4,757
1914 .
785
1915 .
823
Total...
197,673
62
report of the director of the mint.
RECOINAGE OP UNCURRENT UNITED STATES SILVER COIN.
The table following shows the face value of abraded subsidiary coin
transferred and purchased for recoinage, the amount of new com made
therefrom, and the loss since 1891 r
1891.
1592.
1593.
1594.
1595 .
1596.
1597.
1S9$.
1S99.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
190S.
1909.
1910.
1911.
1912
1913
1914
1915
Total
Face value.
Value of new
coin produced.
Loss.
$910, 046. 69
7,118,602.78
7.618. 195.25
7, 184, 472. 17
4,361,761.36
4,627, 141.46
3,197,998.50
6, 109, 772.32
8.584.304.26
5,261, 07G 35
3,832, 280.69
3,333,437.06
3,008, 747. 9S
2.828.384.90
1,964, 476. 11
1.414.963.90
1,142, 184.00
1,162,982.06
977,321.23
814,361.57
583,538 44
678,457.94
414,035.30
875,727.40
730,337.82
$S61,6S0.41
6, 937, $86. 02
7,381,289.58
6,924, 753. 0.5
4,161,820.73
4,377,258.40
3,048, S61.64
5,S20, 159. 16
8,098, 4S5. 18
4,950,088.96
3,613,021.59
3,141,548.04
2, S29, S90. 71
2,656, 104.21
1,S39, 219. 24
1,322, S34. 27
1,064, S26. 39
1,0S6, 691.94
912,300.40
758,695.55
544,539.09
634.101.94
3SS, 026. 37
S15,$00. 49
678.791.95
$4S, 366. 28
180,716.76
236, 90S. 67
259,719. 12
199,940. 63
249, 8S3. 06
149, 136. S6
289,613. 16
4S5, 819.0$
310,981.39
219,259. 10
191,889.02
178,857.27
172, 280. 69
125,256.87
92,129.63
77,357.61
76,290.12
65,020. S3
55,666.02
3S,999. 35
44,356.00
26, 00$. 93
59,926.91
51,545.87
. 78,734,604.54
74,84S, 675.31
3,885,929.23
The loss on the recoinage of $4, 244, 893 in worn and uncurrent gold
coins was $35,292.43 and the loss on the recoinage of §730,337.82 in
worn and uncurrent silver coins was S51,545.S7.
The Treasury was reimbursed from the appropriation for that pur-
gose the following losses on uncurrent com transferred during the
seal year 1915 for recoinage:
Uncurrent gold coin, . $12, 856. 95
Uncurrent silver coins . . 51, 456. 09
Uncurrent minor coins . . 14* 914* 24
Total . 79, 2.7. £
UNITED STATES GOLD IN CANADA.
/Hie hoidings of United States gold coil
of the Dominion of Canada on December 3
by the Receiver General
, i914, was $127,813,433.
OPERATIONS OF THE MINT SERVICE.
63
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REPORT OF THE DIRECTOR OF THE MINT.
OPERATIONS OF THE MINT SERVICE,
65
VALUES OF FOREIGN COINS.
The following values calculated by the Director of the Mint were
SaoQB251of%tAt^fet4ary °\ oh„C Treasury under the provisions of
the v»h,e5,.f f, if * °f iUgVst 27’ 1894l as the basis for estimating
£ quarter *° ^ United du™«
Values of foreign coins .
Country.
Lej?al standard
Monetary unit.
Argentine Republic..
Gold .
Peso .
A tlstria-H imgyy
Belgium .............
ri j . ^ a xi
Crown .
Bolivia .
< /Old and silver
Gold .
Franc .
Bolivian/t
Brazil .
..........
Milrels
British Colonies in
Australasia and
*»*» .do ........
Pound sterling .
Africa,
Canada .
Dollar
Central American
States:
Costa Rica .
Colon _
British Honduras
Dollar .
Nicaragua .
Cordoba.
Guatemala .
H<flvjuraz .
[silver .
Peso .
Salrsdor . J
f
Value
in term*
of U. S.
money.
Chile.
Cold.
China.
Colombia.
Denmark.
E**jw dOT. .
Pin tend.
Yrsaif*.,
German Empire.
Or** t Britain....
Greece . .
Haiti .
Silver.
.do.
Gold.
.do.
.do.
.do.
Amoy..
Canton _
Cheefoo....
Chin Klang
Fuchau. ...
H a 1 k w a n
(Customs)
Hankow...
Tael ...(Ki aochow..
Nankin _
.Vinciiwaog
F<
Swatow...’
Takau...
Tientsin.
Dollar, y nan
iMexican.. .
DolJar .
Crown.... .
Sucre . . .
Pound (100 pias¬
ter!).
60.964%
#
.2026
Am
.3893
.5462
4.TO
l.oooo
.4653
1.0000
L0000
.35*37
.3650
..5798
.5780
.5.545
.5664
.5363
.5899
.5425
.561%
.5737
..5437
. >574
.5652
5296
.5356
.5635
..561%
.3799
. 3%I3
. 3813
..'{Ml
0000
Remark*.*
con-
face
Currency: Depreciated paper.
vertihJe at 44 per cent of
value.
Member of Latin Union; gold is the
actual standard.
W^bollvlznf* equal 1 pound ster-
Currency: Government paper* Ex¬
change rate about 2-5 cents to the
milrels.
- do . . Mark..
Gold and f liver Franc.
Gold . Mark .
do . Pound sterling.
GoPi and silver Drachma .
Gold . Gourde .
.26*)
,4H67
.9431
. 1930
.1930
.2382
.*VM
. 1930
. 9647
Guatemala; Currency, fnconvertl-
blegiper, exchange rate about 40
Honduras; Currency, bank notes.
[Salvador; Currency, convertible
Into silver on demand.
Currency; Inconvertible paper; ex¬
change rate, apxjrc/ximateJy ,60.14.
Currency: Inconvertible paper; ex¬
change rate, approximately $1.05
paj^er to $1 gold.
The a/lual standard is the British
■ which Is legal
pound sterling, which
tender for 97J piasters.
Member of Latin Union; gold U the
actual standard.
Do.
Currency; Inconvertible paper; ex¬
change rate, approxlmtaely, 6$ kj.
* The ex/4*ang* rates shown tinder this heading are recent quotations and given as an indication of the
values of currencww which are fluctuating in the;r relation to the legal standard. They are not to take the
pte/e of Use consular certifbate where it I* available.
9700# — 15 - 5
66
REPORT OF THE DIRECTOR OF THE MINT#
Values of foreign coins — Continued. _
Country.
Legal standard.
India [British] . Oold ......... Rupee.
Italy. . . . . Gold and silver Lira....
Monetary unit.
Value
interms
of U. S.
money
Japan . Gold.
Liberia . do.
Mexico.
Netherlands...
Newfoundland.
Norway .
Panama .
Paraguay .
Persia.
.do.
Peru .
Philippine Islands.
Portugal .
Roumania. .
Russia .
Santo Domingo
Servia .
Siam .
Spain .
Straits Settlements..
Sweden .
Switzerland .
Turkey
Uruguay...
Venezuela.
do.
.do.
.do.
.do.
Silver..
Gold and silver
Gold .
... .do ......
,.do .
Yen....
Dollar.
Peso.
Florin..
Dollar. .
Crown..
Balboa.
Peso...
Kean.
Libra. ..
Peso
Escudo.
..do -
..do....
. . . . . do .......
....do .
....do .
Gold and silver
Gold...
do.
.do.
.do.
.do.
.do.
Leu....
Ruble..
Dollar.
Dinar..
Tical...
Peseta.
$.3244
.1930
.4985
1.0000
.4985
.4020
1.0139
.2680
1.0000
.3537
.1700
4.8665
.5000
1.0806
.1930
.5146
1.0000
.1930
.3709
.1930
Dollar .
Crown .
Franc. .
.5678
. 26S0
.1930
Remarks.
Piaster . 0440
Peso . 1.0342
Bolivar . 1930
(15 rupees equal 1 pound sterling).
Member of Latin Union; gold is the
actual standard.
Currency: Depreciated silver token
coins. Customs duties are col¬
lected in gold. .
Mexican exchange rate violently
fluctuating approximately, $0.15.
Currency: Depreciated paper, ex¬
change rate 1,550 per cent.
This is the value of the gold kran.
Currency is silver circulating
above its metallic value; exchange
value of silver kran, approxi¬
mately, $0.0875.
Currency: Inconvertible paper; ex¬
change rate approximately,
$0.70j.
Valuation is for the gold peseta;
currency is silver circulating
above its metallic value; exchange
value, approximately, $0.20.
Member of Latin Union; gold is the
actual standard.
100 piasters equal to the Turkish £.
Changes in the value of foreign coins during 1915.
Countries.
Central American States:
Guatemala .
Honduras .
Salvador .
China .
Do .
Do .
Do .
Do .
Do .
Do .
Do _
Do _
Do _
Do....
Do....
Do....
Do....
Do....
Do....
Do....
Do....
Do....
Do....
Paraguay.
Monetary unit.
Silver peso.
Silver tael, Amoy .
Silver tael, Canton .
Silver tael, Chefoo .
Silver tael, Chin Kiang .
Silver tael. Fuchau .
Silver tael. H a i k w a n
(customs).
Silver tael, Hankow .
Silver tael, Kiaochow .
Silver tael, Nankin .
Silver tael, Niuchwang .
Silver tael, Ningpo .
Silver tael, Peking .
Silver tael, Shanghai .
Silver tael, Swatow .
Silver tael, Takau .
Silver tael, Tientsin .
Silver dollar ( Y uan) . .
Silver dollar, Hongkong _
Silver dollar, British .
Silver dollar, Mexican .
Silver peso .
Value, 1915.
Jan. 1. I Apr. 1.
$0,365
.599
.597
.570
.585
.554
.610
.560
.580
.593
.562
.576
.584
.547
.553
.603
.580
.436
.394
.394
.397
.365
$0,363
.594
.593
.568
.581
.550
.605
.556
.576
.588
.557
.571
.579
.543
.549
. 59S
.576
.389
.391
.391
.394
.363
July 1.
$0. 367
.602
.600
.576
.588
.557
.612
.563
. 5S3
.596
.565
.579
.587
.550
.556
.606
.583
.394
.396
.396
.399
.367
Oct. L
$0.3537
.5798
.5780
.5545
.5664
.5363
.5899
.5425
.5618
.5737
.5437
.5574
.5652
.5296
.5356
.5835
.5618
.3799
.3S13
.3813
.3841
.3537
The foregoing report, covering the operations of the mints and
assay offices of the United States for the fiscal year ended Juno 30,
1916, is respectfully submitted. K w WooLLEY
Hon. W. G. McAdoo. Director of the Mint.
Secretary of the Treasury.
APPENDIX TO REPORT ON
THE OPERATIONS OF THE
MINT SERVICE.
68
REPORT OF THE DIRECTOR OF THE MINT
No. 1. — Domestic production, deposits, and purchases of
Location and description of
deposits.
Phila¬
delphia.
San
Francisco.
Denver.
New York.
New
Orleans.
Alabama . ,
Alaska
Arizona . . .
California.
Colorado . .
1
2
3
4
5
6 | Georgia.
Idaho .
8 I Montana.
9 Nevada..
10 New Mexico.
11 North Carolina .
12 Oregon.
13 South Carolina.
14 South Dakota.
15 Texas.
16 Utah.
17 Virginia.
18 Washington.
19 Wyoming .
20 Other States.
21 Philippine Islands.
22 Porto Kico.
23 I Total unrefined
24 Domestic bullion, refinery
bars.
25 Domestic bullion, refined,
over 992.
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
Fine ozs.
426. 191
983.429
20.767
974.650
Fine ozs .
Fine ozs.
Fine ozs .
Fine ozs.
845.419
44.555
5.205
17.3%
188,878.090
103,225. 871
258,534.626
297.706
24.
873.
54.
157,909.
045
893
058
055
5,361,456
584.158
10. 432
59,966.031
7,398. 716
1,950.
65,516.
216,504.
15,654.
157
876
634
642
46,494.171
63.228
10. 780
19.082
4.540
38.436
64.217
9,527.388
30.853
2.149
61.281
3.453
234.
1.
18,276.
20.
55.
641
783
878
211
253
20,832.703
269.539
27. 714
298,152.21
12.397
1.148
496. 773
20.591
359. 434
378.044
2.278
48,750.413
133.937
8,829.584
Total .
Domestic coin purchased ....
Domestic coin transferred. ...
Foreign bullion unrefined _
Foreign bullion refined .
Foreign coin .
Jewelers’ bars, etc .
Deposit melting-room grains
and sweeps.
Assay coins .
Surplus bullion .
Assayers’ proof bullion .
Sweeps from Boise assay office.
Total deposits .
Redeposits:
Fine bars .
Mint bars .
Unparted bars .
42 | Total redeposits
43 | Total
44 I Value of deposits
45 I Value of reaeposits
46 I Total
47 Number of deposits
47 Number of deposits .
48 Number of reaeposits .
49 Number of coin transfers.
50
Total.
8,829.584
1 6, 766. 392
162,046.798
529.366
2,520.286
63,698.277
2 176. 760
*397.280
295.794
245,260.537
125,056.431
103,258. 765
228,315.196
473,575.733
$3,767,502.67
606,270.11
4,373,772. 78
3,757
33
26
3,816
677,704.510
15,500.634
1,753,454.737
477,813.604
514,939.660
18,615.254
366,020.308
3,665.462
1,505,611.801
39.584
2,446,659.881
1,773.478
444.047
333,781.601
1,011,368.518
19.565
1,875,297.571
28,737.612
39.584
3,369.613
73,054.514
644,003.464
13,183.183
76.846
1,536. 167
5,218.378
116.276
513,316.308
58,546.357
95,910.285
190,729.574
353.160
17, 771.849
1,382.377
1,402.840
11.226
304.997
193.500
%. 750
140.225
96.7.50
4.837
3,440,420.997
1,091,550.393 2,762,987.617
23,982. 326
11,616.343
553,700.119
11,616.343
553,700.119
2,473,578.316
88,' 726.' 886
3,452,037.340
1,645,2,50.512
$71,119,813.87
240,131.13
$22,564,349. 21
11,445,997.30
71,359,945.00
13,535
73
2,562,305.202
5,3257292. 819
23,982.326
$57,116,023.07
52,967,549.37
$495,758. 64
34,010,346.51
^,988
1,271
110,083,572.44
12,088
177
495, 758. 64
~407
13,608
5,259
12,265
407
1 Includes a train of 1.462 fine ounces*=$30 22 - - -
2 Philadelphia Mint, 170.601 fine ounces, value $3 526 64* fit t ™
$85.58; Charlotte assay office. 2.019 fine ounces, value $41 74- tohfiUr-R^yfl°fflce’ 4140 flne ounces, value
* Annual assay coins, 205.473 fine ounces, value $4 247 50%rwi i’l It?*760 ft,no ounces, value $3,653.96.
$3,965; total, 397.280 flne ounces, valuo $8,212.50. 5 ,^7,50» s peclal assay coins, 191.807 fine ounces, value
OPERATIONS OF THE MINT SERVICE
69
gold during the fiscal year ended June SO, 1915.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
REPORT OF THE DIRECTOR OF THE MINT,
No. 2. — Domestic production , deposits , and purchases
Location and description of
deposits.
Philadel¬
phia.
San Fran¬
cisco.
Denver.
New York.
New
Orleans.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Idaho .
Michigan . .
Montana .
Nevada . .
New Mexico .
North Carolina _
Oregon .
South Carolina _
South Dakota .
Texas .
Utah .
Virginia .
A’ ashington .
Wyoming .
Ither States .
Philippine Islands.
Porto ltico .
Fine ozs.
42. 48
115. 72
1.10
145.40
Fine ozs .
Fine ozs.
Fine ozs.
66.34
6. 80
10,944.07
.92
157.03
21, 264. 56
53,993.24
79,952. 36
138. 10
4.00
2,534. 76
26. 87
427,678.34
264. 77
568.53
10,758.30
18.97
1.07
.26
2. 15
874.66
*6.88
1.63
71,400. 16
20,005.44
9, 163. 26
49,675.14
87,275.09
519.28
Total unrefined .
Domestic bullion refinerv bars
Domestic bullion refined .992.
Total .
Domestic coin purchased .
Domestic coin transferred .
Foreign bullion unrefined .
Foreign bullion refined .
Foreign coin .
Jewelers' bars, etc .
Deposit melting-room gains
and sweeps.
Assay coins .
Surplus bullion .
Assayers' proof bullion .
Sweeps from Boise assay office
Philippine assay coins .
Philippine coins for recoinage.
Total deposits.
ltedeposits:
Fine bars .
Mint bars .
Unpartod bars...
Total redeposits.
Total .
Value of deposits, subsidiary..
Value of redeposits, subsidiary
Total
Cost value of deposits
(Jost value or deposits...
Cost value of redoposits.
Total .
Number of coin transfers.
Number of deposits .
Number of redeposits .
Number of purchases .
Total.
.13
639. 14
2,637. 81
10.38
. 7.69
26L 68
3,350.28
1.38
43,316. 43
13.96
2S2. 59
1,045,039. 78
35.35
3.00
90,875.88
.83
2. 13
".’25
127.55
43.90
8,848.86
13,003.05
3, i62, 298. 50
258, 792. 68
162. 13
784,866. 91
624, 062. OS
40,053. 40
500,481.54
3,175,301.55
1 1,891.09
475,710. 21
3,532. 62
6, 195. 55
102,048.84
7 251. 89
» 203. 50
2,300. 49
1,043,821.72
93. 52
12,939. 81
424,716. 80
49, 928. 30
90, 16S. 10
20,697. 79
60.02
1,164,597. 02
138.83
41,647. 70
9,460.55
6, 303. 68
145. 12
2,003. 14
25.00
1,263. 42
66.93
1.14
136,179.10
244.33
3,767,502. 67
1,780,634. 44
1, 223, S00. 65
433, 191. 09
173,079. 02
006,270.11
4,373,772. 78
$5,208,229. 02
838,113. 16
$2,461,564. 79
90,640. 70
6,046,342. 18
2,311,088.67
334, 232. 98
2, 645, 921. 65
28
605
131
1,716
2, 4S0
58, 816.58
6, 750. 64
224,856. 16
65, 567. 22
1,846, 201.66
224,856. 16
1,448,656. 81
2,552, 205. 49
^13,633. 14
34, 444.24
978,077.38
98
491
57
1,130
1,776
81,691,792.79
310, 843. 13
2, 002, 635. 92
621, 29S. 13
115,087.75
736,385.88
1,073
1, 435
2,508
22.95
1, 147, 277. 82
80, 032. 48
457, 234. 52
1,684,544.82
1,556,311.17
277,614.17
397, 290. 94
1,579.38
100.00
3,917,440. 48
432,613.01
432,613.61
4^350, 054. 09
$5,415,504.35
598,018.88
6,013, 553.23
2,005,651.59
221,489.56
2, 227, 141.15
2,361
496
2,857
1 Includes a £ain of 19.13 fine ounces— 26.45.
Fine ozs.
2.76
.13
2.89
2. 89
44. 18
7,345.88
6. 40
606. 65
5. 13
8,011.13
8,011.13
$11,074.65
11, 074. Go
3,991.15
3,991.15
Vnnual assay coins, 16,352 fine ounces: subsidiary vaina a- o »
jidiary value, *55.27. Total, 2UJ.50 too oun&^idVr^ue, IK.
assay coins, 39.9S fine ounces;
OPERATIONS OF THE MINT SERVICE
71
of silver during the fiscal year ended June SO , 1915 .
Carson.
Boise.
Helena.
Dead wood.
Seattle.
Salt Lake
City.
Total.
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs .
Fine ozs.
Fine ozs.
42.48
.17
42,211.51
1.19
74,355.45
56,550.83
80,218.57
427,819.07
68. 74
68. 10
2. 93
21.84
.18
2. 19
.20
.05
9,289.61
32.67
99.53
93.29
10,355.20
11,463.35
44, 170. 18
127,833.94
1,152,320.31
910. 01
5. 12
34,999.01
.24
6,308.52
4.50
288.59
22.86
37,889. 49
10,832. 77
2.77
54,735.98
11.26
38,847.42
173,056.11
14.92
.38
376.58
667. 24
.13
70.04
1.06
464.67
1,564.14
43.90 :
2.13 :
8,848.86 :
23.20 :
6,399.68
47,254.64
35,032.91
38,847.42
53,616.33
786.50
2,225,076.00 !
120,248.01 !
4,904,881.47 2
6,399.68
47,254.64
35,032.91
38,847.42
53,616.33
786.50
7,250,205.48 1
2,167.62 2
488,650.02 2
46,655.94
2,080,210.11 3
49,928.30 2
383,444.77 5
2.84
15.47
56.32
562.24
418.71
527,988.01 5
16.36
6.34
11.45
5.69
1.56
2,098.41 3
203.50 3
5,567.05 3
662.50
202. 13
989.63 3
244. 33 3
68.07 3
136,179.10 4
6,417.99
47,271.00
35,095.57
38,858.87
101,502. 70
1,408.90
10,927,944.40 4
433,191.09 4
231,895.60 4
664,220.41 4
1,329,307.10 41
6,417.99
47,271.00
35,095.57
38,858.87
101,502.70
1,408.90
12,257,251.50 4<
$8,872.29
$65, 347. 80
$48,516.28
$53,718.84
$140,318.22
$1,947.54
$15,106,886.57 4;
1,837,645.87 4f
8,872.29
65,347.80
48,516.28
53,718.84
140,318. 22
1,947.54
16,944,532.44 4<
3,214.69
23,585.67
17,557.97
19,503. 15
52,789.42
703. 19
6,003,616.77 5<
705.254.53 51
3,214.69
23,585.67
17,557.97
19,503. 15
52,789.42
703. 19
6,708,871.30 55
::::::::::::::
. .
.
. i
.
.
126 53
4,530 54
684 5£
.
.
.
i
.
.
4,281 5£
Q A91
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
72
REPORT OF THE DIRECTOR OF THE MINT
No. 3. — Mutilated and uncurrent domestic coins received for
•
Philadelphia.
San Francisco.
Denver
(pur¬
chased).
Denomination.
Received
from
Treasury.
Purchased.
Received
from
Treasury.
Purchased.
GOLD.
Double eagles .
$766,960.00
1,023. 470.00
1,508,210.00
00.00
17,540.00
1 80. 50
$29,040.00
48,320.00
09,100.00
21.00
2,197.50
152.00
$7,480.00
170.00
1,610.00
$5,120.00
2,520.00
29,235.00
$60.00
110.00
205.00
3.00
45.00
Ragles .
Half eagles .
ft-rlnllar TtionAQ
Oimrter envies .
112.50
3.00
Dollars
Total gold .
3,376.320.50
149.490.50
9.260.00
36,990.50
423.00
SILVER.
135 00
703.00
949.00
513. 50
112.00
57.00
15.75
Half dollars .
204,093. 50
203,081. 50
01.40
239, 424. 70
009. 55
37.35
11,000.00
6,000.00
6.20
2.000.00
48. 70
7.32
85.00
38.00
Quarter dollars .
Dimes .
052.80
0. 40
.42
22.00
9.20
R_r»Ant •nieces . . .
.03
Total silver .
707,908.00
2,900. 12
19,062.22
145.00
193.98
NICKEL.
R-eervt nieces
345,804.80
513. 30
20.65
5,000.00
!l-eent nieces
1 j'ont nieces
719. 90
nPritnl n iekel .
347,038.00
20.65
5,000.00
IJRONZE.
0_r»mi < nioAM . .
338.00
57,420.35
1 nieces . .
49. 74
1,400.00
Tnfnl hrnny.e .
67,704.95
49. 74
1,400.00
COPPER.
1-cent ni<v*es .
304.80
.60
SUMMARY.
Gold coins .
Fine ozs.
. *162,040.798
Fine ozs.
2 7,163. 672
2 2.094.59
Fine ozs.
444.047
12.939.81
Fine ozs.
1,773.478
93.52
Fine ozs.
19. 505
138.83
Silver coins .
475,710.21
Nickel coins . . .
Troy ozs.
. 1,002,117.00
Troy ozs.
60.37
479. 50
14.58
Troy ozs.
15,343.59
13, 738. 20
Tlrnrwc cnins . . .
557,807.00
Copper coins . - .
9,917. (K)
Held coin in cr valuo .
. $3,349,804.01
$148,086.24
2,895.58
18.77
47.94
.42
$9, 179. 27
17,888.10
4,772.50
1,373.82
136,661.01
129.26
$404. 44
191.92
Hilver subsidiary coining value . .
057,020.03
Nickel coining value .
328, 030. 43
Bronze, coining value .
55, 780. 70
Copper coining value .
283.34
Copper, coining value in bronze .
T ,/ws void . . . . .
20,515.89
1,404.26
64.54
1.88
1.80
.18
80.73
1,174.12
227.60
26.18
329. 49
15. 74
18. 56
2.06
T silver . * . . .
50.281.97
Doss, nickel . . .
19,007.57
Loss, bronze .
1,984.25
Loss. Conner . . .
t Item gold dollars $80.50 contained ono California half dollar and was sent by assistant treasurer, Phila¬
delphia, and accepted as called for in the total faco valuo of the transfoi ordor. The number of the transfer
order was 48888.
* Annual and special assay coins included.
OPERATIONS OF THE MINT SERVICE,
73
recoinage dur ing the fiscal year ended June SO, 1915.
Now York 1
(purchased). (
<ow Orleans
purchased).
Total.
Grand total.
Seattle (pur¬
chased).
Received from
Treasury.
Purchased.
$80,880.00
138,230.00
366,270.00
30. 00
6,702.50
70.00 1
$26,800.00
24,300.00
19,095.00
3.00 .
110.00
1.00 .
$160.00
240. 00
1,100.00
10.00
$774,440.00
1,023,640.00
1,569,820.00
60.00
17,540.00
80.50
$151,960.00
213,720.00
485,065.00
66.00
8,267.50
235.00
$926,400.00
1,237,360.00
2,054,885.00
126. 00
25,807.50
315.50
600,290.50 1
70,309.00 | 1,810.00
3,385,580.50
859,313.50
4,244,893.00
[
.
135.00
823.00
1,102.50
595.75
704.50
6.40
.45
135.00
823.00
216,796.00
269,677.25
67.60
242, 129.20
664.65
45. 12
:::::::::::::::::
11.50
28.50
215,693.50
269,081.50
67.60
241,424.70
658. 25
44.67
1 .
20.50
|- -
68.50
726,970.22
3,367.60
730,337.82
|
350,804.80
513.30
719. 90
20.65
350,825.45
513.30
719.90
p -
352,038.00
20.65
352,058.65
.
. . .
338.60
58,826.35
49.74
338.60
58,876.09
. —
59, 164.95
49.74
59,214.69
304.80
.60
305.40
Fine ozs.
28,737.612
Fine ozs.
3,369.613
44.18
Fine ozs.
85. 176
Fine ozs.
162,490.8*15
488,650.02
Fine ozs.
41,149.116
2,371.12
Fine ozs.
203,639.961
491,021.14
.
.
.
Troy ozs.
1,077,460.59
671,545.20
9,917.00
Troy ozs.
60. 37
479. 50
14.58
Troy ozs.
1,077,520.96
572,024.70
9,921.58
$594,059. H
"6,231.3
6 m.w.«
i' . «■*
, .
j $1,760.77
1 .
.. .
. .
, . . .
3 . 49.21
4 .
$3,358,983.88
875,514.13
332,802.93
57,154.52
;; 283.34
j . 26,596.62
51,456.08
19,235.07
2,010.43
Ol At}
$850,627.69
3,277.82
18. 77
47.94
.42
! . 8, 695 "si
, 89.78
1.88
1.80
[ .18
$4,209,611.57
678,791.95
332,821.70
57,202.46
283.76
. 35,292.43
51,545.87
19.236.95
2,012.23
21.64
I-'"-'-"'- .
. . . .
. . *
11.
74
REPORT OF THE DIRECTOR OF THE MINT
No. 4. — Assets and liabilities of the United
ASSETS.
Institutions.
Gold bullion.
Silver bullion.
Quantity.
Value.
Quantity.
Value.
Coinage mints:
Philadelphia .
For Cuban Government .
San Francisco .
For Philippine Government. . .
Denver .
Assay offices:
New York .
New Orleans .
Carson .
Helena .
Boise .
Dead wood .
Seattle .
Salt Lake City .
Total .
Fine ounces.
566,881.734
67.597
10,063, 108.367
2,902,240. i 13
4,215,732. 5S8
358. 690
98. 168
1,276. 211
4. 134
3.832
77. 522
156. 229
$11,718,484.69
1,397.36
208,022,911.84
59,994,627.60
87, 140,926.89
7,413.17
2,029.29
26,381.61
85.47
79.22
1.602.52
3.229.53
Fine ounces.
1,282,112. 08
33,006. 73
1,539,381.18
345. 37
3, 126,993. 25
1,321,022. 88
90.22
45. 49
1,841.98
47. 52
676. 44
271. 02
$993,964.95
45,628. 79
837, 752. 07
219. 14
1,736,877.07
721,553.71
42. 49
23. 30
932. 87
55. 18
331. 59
134. 84
17,750,005.185
366,925, 169.25
7,305,834.16
4,337,516.00
LIABILITIES.
Institutions.
Bullion fund.
Undeposited
earnings.
Seigniorage
on silver.
Unpaid
depositors.
?oinage mints:
Pniladelphia .
San Francisco .
Denver . .
Assay offices:
New York .
$307,289, 136. 68
286, 172,266. 75
449,684,444.10
110,306,081.21
22,668,072.40
23,961.71
137, 102. 73
30,9#4.6o"
796, 549. 25
14,919.39
$9,033.55
24,373.01
$14, 555. 58
$944. 69
773. 44
569. 70
73. 79
lit W 1 lUUio . .
TT pIpiia
Boise .
Dead wood... .
85. 47*
.
. . .
Seattle
Salt Lake City .
Total .
1,177,023,528.28
33,492.03
14,555.58
2,361.62
OPERATIONS OF THE MINT SERI ICE,
75
States mints and assay offices June SO, 1915.
ASSETS.
Gold coin.
Silver coin.
Credit with
Treasurer
United States.
Minor coin.
Minor coinage
metal.
TotaL
$1S5,935,954.24
$108,552,595.86
$151,553.43
$1,317,997.74
$229,425.46
$308,899,976.37
47,028. 15
oca 478. 84
"'*iijo78,346.83
61,822,774.77
28.36
1,455, 025. M
191.06
20,627.01
438.56
450 388 556.86
385,666,580.04
9,028,409.35
2,131,386.14
172,430.36
13, 409, 76a 96
85,690.59
21,909. 12
672,028.58
110,306,650.91
22,568, 146.25
23,961.71
137, 102. 73
85.47
30,994.00
796,549.25
14,919.39
22,475,000.66
.
- -
109,788.25
. 3o|S59. 60
794,615.14
11,555.02
.
. . .
. . * .
594,703,290.46
194,981,785.13
16,243,188.08
„ _ _
2, 105,794.23
270,143.34
1,179,566,886.49
LIABILITIES.
Minor coinage
profits.
Minor coin metal
fund.
Treasurer United
States minor coin
account.
Governments of the
Philippine Islands
and of Cuba.
TotaL
$8,712.44
2,016.92
119,357.49
$144,522.31
23,508-39
$1,447,626.70
114,984.75
553,498.72
$47,035.15
438.56
$30S, 947, 002. 52
286,352,917.40
450,388,556.86
31,256.55
- . ;
110, 306, 65ft 91
22,568, 146.25
23.96L71
137,102.73
85.47
.
- * .
I:"::::;:;:::;;:::
*1 .
30,994.00
796,549.25
14,919.39
130,086.85
199,287.25
2, 116, lia 17
47,464.71
1, 179, to, 8S>. 4 J
76
REPORT OF THE DIRECTOR OF THE MINT.
No. 5.— Earnings and expenditures of the United States
INCOME.
Items.
Mints.
Philadelphia.
San Francisco.
Denver.
Parting and refining charges. .
Fine-bar charges. . .
<loo ait
$51,851.12
76. 77
15,975.00
5,608.89
$94,198.46
48.86
5,609.27
3,261.76
Melting charges . .
Alloy charges . .
5 loo. 45
5,244.00
Assaying and stamping charges .
Proceeds of stock medals and proof coins sold
Charges for manufacture of special medals
Charles on"coi°rk done fo[ °}heT institut‘ons, etc
Chafes on comagVSted for SanttaorcTerm’
861,832. 14
702, 177. 62
238,789.96
3,589.85
9,924.%
4,670.05
25,881.91
3,685. 49
17,340. 56
91,399. 21
381.00
476,760.58
159,8%. 71
40,760.16
368.93
7,792.50
42.00
523,496.25
547,258.58
136,592.41
341.63
45.00
i-pSiflP51:
Bullion recoveredfroSd^it meWnTroom ref,neries- • •
s9ld to the bullion fund formerly on inventory ,
reco^nageh!"Weigllt ^ mutila^ coin purchased for
5,449.74
7,393. 18
280.35
2,033.56
7,394.97
2,880.09
3,059.24
Receipts hom sate ofo^l'm^11^ . •'•••” .
Commission'on teleph(meIca^r,a S . "--i
32. 77
1.37 .
1,978,212.61
99.00 .
769,415.75
_
Total .
1,317,014.53
EXPENSES.
^o?^KndCl6rks .
gSgfii~E
and assay offices. a?_0m shlpments between
i mints
Total.
$68,889.67
295,348.69
$47, 769. 45
119,356.06
$46,888.17
92,266.27
87,101.41
648.17
722.97
542.26
37,400. 55
360. 58
88.26
596.94
32,266.46
990-99
261.12
845. 16
78.92
4,865.75
462,452.66
205,650.76
175,587.06
OPERATIONS OF THE MINT SERVICE
77
mints and assay offices for the fiscal year 1915.
INCOME.
Assay offices.
New York.
New
Orleans.
Carson.
Helena.
Boise.
Dead-
wood.
Seattle.
Salt
Lake.
Total.
$106,639.71
17,358.54
18,178.00
5,595.87
$252,689.29
17,622.62
50, 166.67
14,466. 52
5,650.83
1,862,088.97
1,409,332.91
416,142.53
3,589.85
9,924.96
5,579.54
7,792.50
25,881.91
3,685. 49
17,340.56
91,399. 21
2,749. 15
182. 30
30,073.84
18,908. 27
1,660.73
314.20
14,951.20
727.27
1.37
$375.00
$647.00
$574.00
$898.00
$143.00
$2,356. 40
$167.00
771.27
692. 45
1,469.93
1,639. 87
890.64
48.35
138. 14
1,395.50
144.00
40.00
32.92
399. 74
27. 65
109.83
224.45
37.09
2,473. 39
2.46
98.29
11,680.30
1,060.88
693.85
3,825.68
314.75
374.90
33.85
13,972.66
355.00
19.00
176,318.66
-
1,984. 12
1,831.11
2,918.90
6,363.55
1,927.83
5,956.01
979. 62
4,262,922.69
EXPENSES.
$50, 479. 72
80,011.11
$5,050.00
5, 281.62
$4,200.00
1,999.97
$4,400.00
2,500.00
$4,200.00
2,000.00
$4,000.00
1,935.84
$11,450.00
16,208.58
$2,973.33
1,412.50
$250,300.34
618,320.64
57,595. 81
1,784.19
990.99
960. 93
991.53
498.09
5,789.99
768.16
226, 148. 11
2,758.38
758.64
.
.
.
. .
1,072.35
O fl9
1,970.66
. 6.’ 20
2. 78
17.39
.
.
26. 37
6,481.55
715.85
397.98
630. 16
997.41
345.00
11,685. 51
56.02
19,693.68
190,815.94
12,837.86
7,588.94
8,491.09
8, 191. 72
6,796. 32
45, 134.08
5,210.01
1, 128,756.44
78 REPORT of the director of the mint.
pj0 g. _ Imports and exports of gold and silver in ore, b ullion, and
Gold.
Total gold.
Customs districts.
Ore and
base
bullion.
Bullion,
Coin.
refined.
United
States.
Foreign.
Value.
Troy
ounces.
Value.
Value.
Value.
Value.
IMPORTS.
Maine and New Hampshire. . .
$750
4,254
116,392
45
$874
$55
$1,679
54,254
30,671,078
286
1,351
32
114,077
20,010
466,442
1,441,112
36,795
1,518,109
34,631
4,201,285
25,881,230
7,331
6,642,909
4,502,435
$50,000
* 4,859,498
New York .
Philadelphia .
468, 141
2
9,417,136
36
16,278,052
250
1,351
Pnrtn Pfp.n
Viroinm
32
Florida .
504
10,000
80,077
20,010
50,512
24,000
Mobile .
New Orleans .
399,836
412,421
36,795
145,359
34,631
148
168,756
6,884
3,676,759
4,421,526
16,094
Arizona .
51,452
1,028,691
Eagle Pass .
El'taso .
68,634
1,372,750
Laredo .
Alaska . .
248,920
401,498
26
100,438
4,111,207
8,166,562
447
1,987,090
89,930
25,342
San Francisco .
17,520,570
Southern California .
Washington .
481,060
80,909
498,000
Buffalo .
Ohiracrn
Dakota .
141,676
1,487,915
1,500,460
Michigan .
Montana and Idaho
790
12)200
345
St. Lawrence. . .
300
1374,830
\ 97,242
7,697,208
2,008,500
83,980,927
3,053
641,585
94,328,520
3,053
Vermont .
Colorado .
Total .
11,054,434
1,812,522
35,812,701
101,091,873
23,609,747
171^568^755^
DOMESTIC EXPORTS.
Maine and New Hampshire
287
5,798
151,505
400,000
32,367,302
131,200
30,000
3,000
40,750
68,855
180,987
| 816,478
3,000
627,000
|81,913,617
| 7,803,207
157,303
400,000
39,142,668
131,200
30,000
42,912
68,8o5
493,392
2,537,015
5,0?*
627,5l7
9l,729,482
7,823,^
Massachusetts...
New York.
490
”i,'558‘
1327,616
”2,’ 346'
6,774,876
. 38, '354'
New Orleans.
El Paso . .
Alaska _ ’ .
Hawaii _ .
San Francisco .
.
.
Buffalo.....
277,276
’ . 1,739'
13,937
l 79,461
108
25
1 471, 399
6,085
./ 15
1,051
35, i29
81,111
1,639,426
2,091
517
9,700,117
103,769
103
20,417
.
fiS*''*;;. .
St. Lawrence .
Vermont...
11,979
.
Total....
.
foreign exports.
?K,”k
Laredo... .
Hawaii.**’ .
Francisco.' .
SkSg^as»poi»:::;-
Total .
291,303
894,059
18,401,708
124,536,901
. .
. .
* .
.
50
10,606
2,944, 186
. 20,660
' 20
. is, '550
154
50
10, g
2,944,18”
-io
.
.
1
.
2,994,236
2,9S*’
OPERATIONS OF THE MINT SERVICE
79
80
REPORT OF THE DIRECTOR OF THE MINT
No. 7. — Imports of gold and silver in ore, bullion, and
Gold.
Ore and
•
Coin.
Countries.
base
bullion.
Bullion refined.
United
States.
Foreign.
Total gold.
Value.
Troy
ounces.
Value.
Value.
Value.
Value.
Denmark .
$1,475,625
6,785
$1,475,625
11,552,926
France .
1,523
$31,431
$11,514,710
Germany .
Gibraltar .
513
513
Greece .
142,966
2,000,000
5,095
148,061
2,000,000
5,028
27,523
9,178
1,965,270
1,527
66,094
3,758
104,545,647
6,211,688
883,304
q non
Netherlands .
Roumania .
251
5,028
Servia .
1,377
450
27,523
9, 178
169,617
Spain .
United Kingdom— England . .
Bermuda .
$4,254
8,482
740,560
1,527
50,000
\ 1,464
|84, 153, 755
481,060
191,034
1,050,839
British Honduras .
16,094
Canada:
Nova Scotia, etc .
75oj
5,909,889
3,743,538
5
77
/ 1374,825
\ 347,515
100,438
70
1,474
7,697, 138
6, 143,280
1,987,090
644,229
Quebec, Ontario, etc .
British Columbia .
641,585
Central American States:
Costa Rica .
48.041
32,232
Guatemala .
9,000
Honduras .
2,000
16,925
344.952
346, 952
639, 426
49,598
QOO ono
Nicaragua .
399, 147
11,584
2,130
40,289
256,665
119
267
1 957
234,657
42, 896
822, 892
5, 180, 180
9 ^nn
5,622
512
400
9,665
27,780
20,000
62,800
8,000
1,146, 277
1 AJ 1
Panama .
6, 190
Salvador .
Mexico .
785,430
348,888
26,400
823, 2y2
6,324,163
56,680
West Indies— British.
Barbados .
Jamaica .
Trinidad .
O, ow
40 *AQ
616
102,744
220
26, 012
Other British .
* 127
779
ooy
206, 113
Cuba .
32
Ooo
15,500
10, 808
Danish West Indies .
1,500, 156
2,661,965
Dutch W est Indies .
1 746
oq ac «
1,041
33.936
2, 105
OA7 A 07
26, (XX)
21,279
27, 6-11
French West Indies .
, 125
oo, vKH)
9 *>^7
88,871
Haiti .
6, OOl
200
4,922
Santo Domingo .
572
1,011
11,569
20, 460
26,910
4,943
272, 370
Bolivia .
83
38,562
Brazil .
Chile .
48,38i
496
15,076
10, 106
303,693
2,020
5,732
327,225
MI, ^ou
12, 126
357,806
3,950,633
Colombia .
Ecuador .
22,549
1,203
175,028
9 1 fWQ
3,504,511
412,909
96, 348
IWu
50
414, 162
25, 636
259,341
38,500
249, 178
Guiana:
British .
Dutch . .
1,290
12,915
25,636
259,341
r ronen .
Peru .
Uruguay .
9,499
1,911
11,770
12
38,500
239,679
227
855, 793
6,252,273
Venezuela .
China .
42,458
•1(17 iOU
88,8ii
28,648
227
973,252
6,268, 263
41,751
Chosen .
41,751
our ,
15,990
Japan .
British Oceania — Australia
and Tasmania .
11,288
227,062
205,941
17 617 £nn*
i7, 745, i(32
in 977
French Oceania .
1U, ill
500,300
706,241
.
720
720
22, 780
Total .
• 11,054,434
1,812,522
35, 812, 701
101, 091, 873
23,609,747
171,568,755
or assay ollico bars.
1 United States mint
OPERATIONS OF THE MINT SERVICE
81
coin, by countries, during the fiscal year ending June 30, 1915.
Silver.
Total gold
and silver.
Ore and
base bullion.
Bullion refined.
Coin.
Total silver.
United
States.
Foreign.
Value.
Troy-
ounces.
Value.
Value.
Value.
Value.
Value.
$1,475,625
11,570,236
23,586
1,756
148, 758
2,000,000
5,529
31, 133
24,203
1,983, 181
1,527
93, 161
34,633
109,322,615
7,630,808
938,981
10,200
1,496, 101
664,693
110, 785
1,093,011
23,126, 189
61, 180
35,807
206,913
11,206
2,918,413
31,726
96,582
5,359
297, 171
47,883
20,460
12, 126
1,219,589
4,057,838
419,236
25,636
259,341
38,500
3, 144,237
477
977,453
6,268,263
41,751
1,026
17,936,643
734,051
720
22,780
$5,595
10,014
44, 736
$5,452
23,586
$6,263
$17,310
23,586
1,243
697
1,243
697
864
6,666
29,074
23, 516
501
3,610
15,025
12,013
501
3,610
15,025
17,911
2,857
2,941
$100
7, 135
28,375
| 715,813
305,657
19,932
2,500
1,978
27,067
30,875
4,776,968
1,419, 120
55,677
1,200
1,149, 149
25,267
61,187
269, 719
16,802,026
4,500
9,795
800
398
256,448
4,085
7,711
437
24,801
9,321
3,687,725
634,811
7,572
f i 265, 165
\ 447,859
936, 730
90,733
132,583
238, 869
478,652
48, 105
1,200
136,867
15, 463
24, 129
1,862
1,929, 805
15, 743
47,301
537, 681
28,323,887
99: , 162
8,235
24,903
269, 719
14,456,518
18,258
1,569
12, 155
2,003,680
19,091
4,500
9,471
800
398
196,297
4,085
3,028
337
15,954
9, 145
322,737
324
18, 420
35,780
18,944
22,787
4,683
100
8,847
176
230,077
25, 559
1,236, 747
152,341
9, 433
631,706
78, 576
5,074
861,783
107,205
5,074
1,419
1,651
• •-
157, 135
5,137,666
500
7,853
2,667,924
250
4,201
' *250
4,201
1,800
353,115
38, 762
1,026
184, 781
21,965
191,481
27,810
6,700
5,845
6,793,293
39,683, 771
20, 324,380
1,352,476
640, 174
29,110,323
200,679,078
9760°— 15 - 6
82
REPORT OF THE DIRECTOR OF THE MINT.
No. 8.— Exports of gold and silver in ore, bullion, and coin,
Countries.
DOMESTIC EXPOETS.
Denmark.
France’..
Greece.
Iceland
Ital;
Norway.
Spain.
Switzerland.
United Kingdom— England.
British Honduras .
Canada:
Nova Scotia, etc .
Quebec, Ontario, etc....
British Columbia .
Central American States:
Costa Rica .
Guatemala .
Honduras .
Panama .
Mexico .
New Foundland, etc .
West Indies:
British .
Trinidad .
Other British .
Cuba .
Dutch West Indies .
Haiti .
Santo Domingo . .
Argentina . .
Gold.
Ore and
base
bullion.
Value.
$13,537
277,276
Bullion, refined.
Troy
ounces.
1223,515
1 98, 593
287
f 1 474,826
\ 89,691
1,739
Brazil.
Colombia .
Guiana— British .
490
Peru .
Uruguay .
Venezuela .
China .
East Indies:
British .
Straits Settlements.
Hongkong .
Japan .
Philippine Islands .
Total .
FOREIGN EXPORTS.
France * ••••«••■«•••••
United Kingdom— England..
Canada:
Nova Scotia, etc .
Quebec, Ontario, etc .
British Columbia .
Costa Rica .
Mexico .
Newfoundland, etc .
West Indies, British— Trini¬
dad .
Cuba .
Colombia .
Ecuador .
Venezuela .
China .
Hongkong . .
291,303
Total.
1 5,508
894, 159
Value.
Coin.
United
States.
Value.
$4,618,536
2, 036, S45
5,798
9,770,603
1,815,302
35,129
$1,752,000
16,400
100,900
500
150,000
25,178,500
20,000
151.005
^91, 166, 302
180,987
32,350
85,500
2,500
25,900
184,892
500
20,100
100
3,945, 750
119,495
211,020
12,000
66,790
24,000
550,000
582,000
18,401,708
124,536,901
5,000
46,905
25,000
Foreign.
Value.
Total gold.
Value.
$6,370,536
16,400
100,900
500
150,000
27,215,345
20,000
. 156,803
102,765,744
493,392
32,350
85,500
2,500
25,900
185,382
500
20, 100
100
3,945, 750
211,020
12,000
66,790
$390, S25
11,258
50
39,384
10
2,379,336
143,818
29,555
2,994,236
143,495
550,000
582,000
5,000
46,905
25,000
143,229,912
390,825
11,258
50
39,3S4
10
2,379,336
143, 818
29,555
2,994,236
1 United States mint or assay office bars,
OPERATIONS OF THE MINT. SERVICE.
83
by countries, during the fiscal year ending June 30, 1915.
Silver.
Ore and base
bullion.
Coin.
Total silver.
Total gold and
silver.
Bullion, refined.
United
States.
Foreign.
Value.
Troy
ounces.
Value.
Value.
Value.
Value.
Value.
580 047
$281,532
•
$281,532
$281,532
/
148’, 089
26,582 ^
1,721, 186
8,091,722
. \
3,334,350
8,000
1,694,604 /
3,920
3,920
3,920
16,400
335,900
791,500
224,278
150,000
4,075
451 752
235,000
791,000
224,278
1,472,374
402,687
791,000
224,278
8 000
4,075
391,061
35,222,345
1785', 854
.
35,613,406
62,828,751
.
69,205,796
$3,500
3,500
23,500
'8
6
47
42,398
53
156,856
$8,412
4/; qa7
l ^
( 179,569
( 132,214
51,794
80,142
4,150
2,625
170,706
102,936,450
68,102
127, 109
620,501
2,625
32,350
89,650
5,125
26,900
185,382
500
1,000
.
1,000
.
.
.
. 650*
201,000
.
650
201,000
750
4,146,750
4, 891
211,020
19,500
2,775
312
66,790
4,073
594,008
.
8,582
5,139
580
4,891
2,775
312
. 7,500
.
4,891
. 7,500
2,775
312
.
7,650
( 1374
4,073
187
450,513
\ 825,285
450, 326
.
.
.
550,000
582,000
.
425,792
225,037
.
.
225, 037
.
.
.
. 5, '666
.
''ii,’436,"3ii'
5, 796, 820
70
.
5.843,795
25,000
100,000
.
it o 4Q1
.
45,977,181
189,207.093
55,379
89,278,537
45, 469, 371
45J, 4ol
. o oor. cnc;
390,825
2 947,953
.
5,507, 134
2,730,965
.
2, 936, 6yo
35,452
198,907
5,970
44,008
144,937
50
402,982
3,416,867
143,818
175,000
29,555
1,500
21,418
7,959,242
. ;
5,507,134
2,736,965
> .
35,402
159,523
5,960
44,008
144,937
50
402,982
1,037,531
; . m’ooo*
; . i’500'
21,418
2,228,041
35,402
159,523
5, 900
44,008
144,937
50
402,982
1,037,531
. i75,'66o*
. . i’500*
21,418
4,965,006
84
REPORT OF THE DIRECTOR OF THE MINT,
No. 9. — Seigniorage , sources and disposition thereof, for fiscal year 1915 .
Balance on hand July 1,
1914:
Subsidiary silver at—
Philadelphia .
Denver .
$233,693. 78
173,903.40
Minor, at—
Philadelphia . 78, 901. 20
San Francisco ... 19, 196. 78
Denver . 9,806.72
Accrued during fiscal
year 1915:
Subsidiary silver at—
Philadelphia . 861 , 832. 14
San Francisco ... 476, 760. 58
Denver . 523,496.25
Minor, at—
Philadelphia . 940, 967. 58
San Francisco . . . 200, 656. 87
Denver . 683,850.99
Total.
Deposited in Treasury:
Subsidiary silver at—
Philadelphia .
San Francisco...
Denver .
$407,597.18
Minor, at—
Philadelphia .
San Francisco...
Denver .
107,904.70
Paid for distribution of
minor coin at —
Philadelphia. .
San Francisco
Denver .
$1,095,525.92
462,205.00
697,399.65
1,006,822.60
217,669.55
572,124.36
2,068.89
1,862,088.97
Paid wastage of minor
coinage metal at—
San Francisco .
Denver .
88.26
106.97
1,825,475. 44
Balance on hand June 30.
1915:
Silver, at San Fran¬
cisco .
Minor, at Philadel¬
phia .
Minor, at San Fran¬
cisco .
Minor, at Denver. . . .
8,712. 44
2,016.92
119,357.49
$2,255,130.57
1,796,616.51
6,481.55
195.23
14,555.58
130,086.85
4,203,066.29
Total
4,203,066.29
No.
10. Average price of an ounce of gold in London and equivalent value in United
States since 1870.
Calendar year.
Average Lon¬
don price.
Equivalent
value in
United States
gold coin of an
ounce of gold,
British stand¬
ard (0.9163).
Value in
United States
gold coin of
an ounce
1,000 fine.
Per cent
premium
above bank
of England’s
minimum
rate.
1870 .
£
o
s.
1*7
d.
$18.9187
1871 .
o
o
Li
17
9. 01
$20,638
0.00106
.00106
.02571
.03000
1872 . .
o
o
Li
1 7
9.01
18.9187
20. 638
1873 .
o
7
Li
1 7
9. 24
18.9233
20. 643
1874 .
o
o
1 /
1 7
9. 28
18.9241
20.644
1875 .
o
3
1 /
17
1 7
9.00
18.9185
20. 638
1876 .
o
9. 23
18.9231
20.643
.02431
1877 .
u
Q
Li
9. 30
18.9246
20. 645
20.647
20. 647
20.640
20.641
20. 646
. 03215
1878 . .
o
Q
17
1 7
9.42
9.41
18.9270
. 04501
1879 .
O
Q
17
1 7
18. 9268
1880 .
o
Q
17
9.11
18.9207
A1 170
1881 .
o
Q
17
9. 15
18.9215
• V/l I/O
01 A07
1882 . .
o
o
17
9. 35
9. 43
9. 18
9.32
9. 17
9. 10
9.01
9.21
9.04
9.44
10.29
18.9256
. UlOU/
no7^i
1883 . .
O
o
17
18. 9272
20. 647
. Uo/Dl
04A07
1884 . .
O
Q
17
18. 9221
20.642
. IHOU/
AiQon
1885 . .
o
Q
17
18.9250
20. 645
. uiy-'u
1886 . .
o
Q
17
18.9219
20. 642
. 03429
1887 . .
o
17
18. 9205
20. 640
. 01821
1888 . .
3
17
18.9187
20. 638
. 01071
1889 . .
3
17
18.9227
20 fi49
.00106
1890 . .
3
17
18.9193
9/4 AQQ
. 01804
1891 . .
3
o
17
18.9274
ooy
20 A4ft
.00428
1892 . .
o
17
18.9446
Uio
90 AAA
. 04715
1893 . .
3
i/ 1U. 17
17 10.57
18.9422
"v* ooo
90 ftfU
.13826
1894 . .
3
18. 9503
"U. OO-l
90 A7Q
. 12542
1895 . .
3
1/
9.33
18.9256
w. 0/0
90 AJfi
.16826
1896 . .
3
17
9.03
18.9191
0-10
90 AIO
.03747
1897 . .
3
1/ 1U. 16
17 11.23
17 10.46
17 Q 97
18. 9-120
6VJ. oo»
90 AAl
.00324
1898 . .
1899 . .
3
3
3
18. 9637
18.9481
18. 9240
18.9371
18.9356
•U. 00*1
20.688
20.670
.12433
.23901
.15648
.02936
.09870
.09078
1901.::::;;:::;;:::;:; .
3
3
17
17
9. 91
9.83
20.644
20.658
20.657
OPERATIONS OF THE MINT SERVICE
85
No. 10. — Average price of an ounce of gold in London and equivalent value in Lnited
States since 1870 — Continued.
Calendar year.
1902 .
1903 .
1901 .
1S05 .
1906 .
1907 .
1908 .
1909 .
1910 . .
1911 . .
1912 .
1913 .
1914 .
Mint price..
Bank price.
Average Lon¬
don price.
Equivalent
value m
United States
gold coin of an
ounce of gold,
British stand¬
ard (0.9161).
Value in
United States
gold coin of
an once
1,000 fine.
Per cent
premium
above bank
of England's
minimum
rate.
£ $. d.
3 17 9.55
$18.9300
$20,650
0.05951
3 17 10.06
18.9404
20.662
.11570
3 17 9.94
18.9380
20.659
.10337
3 17 9.42
18.9272
20.648
.04639
3 17 9.82
18.9355
20.657
.09008
3 17 9.95
18.9381
20.660
.10359
3 17 10. 19
18.9429
20.665
.12935
3 17 9.18
18.9224
20.-642
.02062
3 17 9.03
18.9192
20.639
.00408
3 17 9.00
18.9188
20.633
.00182
3 17 9.00
18.9187
20.638
.00130
3 17 9.00
18.9188
20.638
.00130
3 17 9 04
18.9193
20.639
.00408
3 17 10.50
18.9491
20.671
.16208
3 17 9.00
18.9185
20.638
No. 11.— Bullion value of the silver dollar [S71\ grains of pure silver ] at the annual
average price of silver each year from 1837.
Calendar year.
1837
1838 .
1839 . .
1840 .
1841 . .
1842 .
1843 .
1844 .
1845 .
1846 .
1847 .
1848 .
1849 .
1850. . .........
1851 .
1852 .
1853 .
1854. . .........
1855 .
1856 .
Value.
Calendar year.
Value.
Calendar year.
$1,009
1.008
1.023
1.023
1.018
1.007
1.003
1.008
1.004
1857..
1858..
1859..
1860..
1861..
1562. .
1863. .
1864..
1865..
1.005
1.011
1.008
1.013
1.018
1.034
1.025
1.042
1.042
1.039
1.039
1866..
1867..
1868..
1869..
1870..
1871..
1872..
1873..
1874..
1875..
1876..
$1,046
1877 .
1.039
1878 .
1.052
1879 .
1.045
1880 .
1.031
1881 .
1.041
1882 .
1.040
1883 .
1.040
1884 .
1.035
1885 .
1.036
1886 .
L027
1887 .
1.025
1888 .
1.024
1889 .
1.027
1890 .
1.025
1891 .
1.022
1892 .
1.00368
1893 .
.98909
1894 .
.96086
1895 .
.90039
1896 .
Value.
Calendar year.
Value.
$0.92958
1897 .
$0.46745
.89222
1898 .
.45640
.86928
1899 .
.46525
.88564
1900 .
.47958
.87575
1901 .
.46093
.87833
1902 .
.40835
.85754
.85904
1903 .
. .41960
1904 .
.44763
.82379
1905 .
.47200
.76931
1906 .
.52353
.75755
1907 .
.51164
.72683
1908 . .
.41371
.72325
1909 .
.40231
.80927
1910.
.41825
.76416
1911 .
.41709
.67401
1912 .
.47543
.60351
1913. .««.......
.48760
.49097
.50587
.52257
1914 .
.42810
No. 12. — Coinage of nations,
86
REPORT OF THE DIRECTOR OF THE MINT.
OPERATIONS OF THE MINT SERVICE
i 142,936.5 liras coined for ornaments
88
Fi
y<
en
Jun
1873
1874
1875.
1876.
1877.
1878.
1S79.
1880.
1881.
1882.
1883.
1SS4.
18S5.
1886.
1887.
1S88.
1S89.
1S90.
1891.
1892.
1S93.
1894.
1895.
1S96.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
1912.
1913.
1914.
1915.
REPORT OF THE DIRECTOR OF THE MINT,
13. — Deposits of gold at United States mints and assay offices since 1873.
Character of gold deposited.
Domestic
bullion.
$28,868,569.78
29.736.387.82
34,266, 124.52
37.590.529.39
43.478. 103.93
48,075,123. 76
38,549,705.89
35.821.705.40
35,815,036.55
31, 29S, 511.97
32,481,642.38
29,079,596.33
31.554.436. 64
32.456.493.64
32,973,027.41
32,406,306.59
31.440.778.93
30,474,900.25
31.555.116.85
31.961.546.11
33.286. 167.94
38.696.951.40
44.371.949.83
53,910,957.02
60,618,239. 77
69,881,120.57
76. 252.457.23
87.458.836.23
92.929.695.86
94,622,078.39
96.514.298. 12
87,745,626.63
101,618,315.38
103,838,268.01
114,217,462.44
111.735.877. 77
119,727,439. 13
104,974,558.73
120.910.246.77
119,338, 150.33
118,504,952.82
113,278,956.53
119,217,238.79
Domestic
coin.
$27,116,948.27
6.275.367.29
1,714,311.50
417.947. 15
447,339.68
301,021.79
198,083. 17
209,328.82
440.776.97
599,356.80
374,129.23
263,117.17
325.210.97
393,545.28
516,984.63
492,512.60
585,066.87
655,474.96
583.847.16
557,967.86
792,470.43
2,093,615.46
1,188,258.21
1,670,005.53
1,015,314.39
1,187,682.99
1.158.307.57
1,389,096.68
1,116,179.86
1,488,448.16
960,907.95
2.159.818.57
3,404,966.63
1,514,291.19
2.754.283.29
3.989.772.90
3,432,288.62
3.603.139.90
2.949.198.68
3,496,769.41
1,846,879.92
4.719.875.69
4.209.611.57
Foreign
bullion.
2,763,563,519.83 94,609,521.77
$426, 107.44
3,162,519.92
739,439.66
1,141,905.76
1,931,163.12
2,068,679.05
1,069, 796.89
21,200,997.23
37,771,472.26
12,7S3,807. 04
4,727,143.22
6,023,734.45
11,221,846.45
4,317,068.27
22,571,328.70
21,741,042.44
2,136,516.66
2,691,932.29
4,054,822.86
10,935,154.69
2,247,730.78
15,614,118.19
14,108,435.74
6,572,390. 14
9,371,521.03
26,477,370.06
30,336,559.47
22.720. 150.22
27, 189,659.12
18,189,416.90
16,331,058.92
36, S02, 224. 39
17,645,526.82
36,317,864.3 8
36, 656, 545. 85
71,774,350.81
16,021,521.02
15,761,852.42
35.673.116.23
20,914,227.09
31,985,879.01
18, 97S, 572.32
22,881,854.51
723,288,423.82
Foreign coin.
Surplus bul¬
lion, grains,
jewelers'
bars, old
plate, etc.
$518, 542. 14
9,313,882.47
1,111,792.26
2,111,083.80
2,093,260.73
1,316,461.09
1,498,819.71
40.426.559.63
55,462,385.74
20,304,810.78
6,906,083.80
9,095,461.45
7,893,217.77
5,673,565.04
9.896.512.28
14,596,885.03
4,447,475.99
5,298,773.93
8,256,303.80
14,040,187.70
6,293,296.33
12,386,406.81
2,278,614.07
3,227,409.06
13,188,013.86
47,210,077.81
32, 7S5, 152. 48
18.834.495.53
27,906,489.13
13,996, 162.21
8.950.595.28
46,152,783.87
15,141,678.08
6.648.511.63
17,221,251.40
13,684,426.46
1,034,377.62
405,225.55
10,066,643.02
2. 155.232.53
2,732,439.41
3,261,967.08
15,420,256.35
$774,218.25
654,353.56
724,625.96
681,819.32
837,911.25
907,932.20
937,751.14
1,176,505.77
1,343,430.93
1,770,166. 36
1,858,107.42
1.564.769.26
1.869.363.26
2,069,077.00
2,265,219.85
2. 958. 750. 90
3.526.597.31
3,542,013.83
4,035,710.15
3,636,603.68
3,830,176.02
3,118,421.45
3,213,809.43
3,388,622.06
2, 810.24S. 66
2,936,943.37
2.964.683.90
3,517,540.93
3.959.656.64
4,284,724.22
4.247.582.64
4,892,930.88
5,568,482.95
4.790.558.31
5,731,111.55
6,231,547.01
5,341,603.82
5, 626, 330. S4
5,783,885.74
6,025,501.79
6,061,727.14
6,057,183.68
5, 748, 959. 12
Total.
$57,704,385.88
49, 142,511.06
38,556,293.90
41,943,285.42
48,787,778. 71
52,669,217.89
42,254, 156.80
98,835,096.85
130,833,102.45
66,756,652.95
46,347.106.05
46,326,678.66
52,894,075.09
44,909, 749.23
68, 223, 072. S7
72,225,497.56
42, 136,435.76
42,663,095.26
48,485,800.82
61,131,460.04
46,449,841.50
71,909,513.31
65,161,067.28
68,769,383.81
87,003,337. 71
147,693,194.83
143,497,190.65
133,920,119.59
153, 101,680.61
132, 5S0, 829. 88
127,004,442. 91
177.753.384.34
143,378,969.86
153.109.493.52
176.580.654.53
207,415,974.95
145,557,230.21
130,371,107.44
175,383,090.44
151,929,881.15
161.131.878.30
146.296.555.30
167.477.920.34
541,243,570.74
143,597,159.55
4,266,302,195.71
OPERATIONS OF THE MINT SERVICE.
_ Deposits of silver at United States mints and assay offices since 1885.
89
Character of silver deposited.
Fiscal year ended
June 30 —
Domestic
bullion.
Domestic
coin.
Fine ounces.
looc . I 24,943,394
1886*"“.’/.’.’.’. . 25,101,639
iqc7 .... 29,293,372
ioeg . . 28 921,649
lego . .... 29 606,387
{SS . ... 29 187,135
1891*/./.'./../../. 50,667,116
-logo _ I 56,817,548
}§£ . . 4 420,770
. ... 3 914,985
logo . . 2 116,690
Ho?;::::::::: . mm
Foreign
bullion.
Foreign coin.
1902 . — ...
1903..
1904..
1905..
1906..
1907..
1908..
1909..
1910..
1911..
1912..
1913.
1914.
1915.
1,425,060
12,523,630
9,991,187
4,923,655
2,398,871
20,388,163
16, 114,553
5,375,389
1,547,145
3,220,236
5,635,513
3, 104,347
9,752,614
7,250,205
Fine ounces.
678,741
216,015
5,848,585
1,202,177
394,346
466,302
637,652
5,036,246
5,346,912
5,012,060
3,015,905
3,170,768
2,208,953
1,243,050
6,060,986
3,587,992
2,613,570
2,275,090
1-2,511,911
* 2,072,397
* 1,337,242
#960,801
770,269
786,085
659,935
548,821
393,906
1J 459, 141
280,688
589,972
491,028
Fine ounces.
1,627,619
1,145,017
1,127,213
1,290,390
1,063,900
1,852,155
1,767,908
1,556,618
1,738,711
994,901
1,362,141
680,757
626,085
209,987
716,077
1,088,019
1,306,149
1,152,023
1,110,463
1,361,701
1,906,410
3,165,170
2,552,003
2,963,399
2,326,847
1,172,240
799,105
957.233
624,215
527.233
2,130,138
Surplus bul¬
lion, grains,
jewelers’
bars, old
plate, etc.
Fine ounces.
867,856
628,545
271,166
67,549
328,276
951,162
1,970,912
349,652
505,171
422,725
15,291
150,942
101,157
6,808
19,382
44,704
4,250,196
29,265
21,869
#4,039,100
#7,796,761
U, 348, 991
#4,963,403
>9,005,007
10 7,342,229
1,404,882
u 627,840
i# 235,229
1*359,299
1# 228, 914
w 519,686
Total.
Fine ounces.
336,981
361,316
396,656
485,190
502,223
526,270
633,073
572,661
582,728
467,958
580, 125
604,386
473,755
249,468
484,751
557,831
567,647
575,430
627,108
652,015
739,310
632,544
636,722
648,007
520,715
460,935
498,614
540, 117
577,423
572,687
536,887
16,601,533
Fine ounces.
28,454,591
27,452,532
36,936,992
31,966,955
31,895,132
32,983,024
55,676, 661
64,332,725
65,149,604
22,194,459
11,783,088
9,027,623
7,324,935
3,826,003
12,866,108
10,256,524
11,204,311
5,456,868
16,794,981
18,116,400
16,703,378
8,506,377
29,310, 560
29,517,051
16,225,115
5,134,023
5,539,701
7,827,233
4,945,972
11,671,420
10,927,944
650,008,290
» Includes 461 ,686 fine ounces Hawaiian co n
• Includes 148,788 fine ouncesHawanaii corns
» Includes 6,901 fine ounces Phi^ne spe
* Includes 3,647 fine ounces Hawaiian* assay coins.
# Includes 3,456 fine ounces Pmlippme i
0 Tnminriaft a «95 fine ounces Hawaiian coui
Includes 3,895 fine ounces special assay corns. r*™inace.
T _ 1 _ 1 _ OO a flnA ° SSSf PUll We assay coins and 620,964 fine ou ^ tu™ coins for recoinage.
s ffi SSS 8SBK ““ “d MJ79
90 REPORT OF THE DIRECTOR OF THE MINT.
No. 15. — Coinage of gold and silver of the United States since 1873 , by fiscal years
No. 16. — Coinage of the mints of the United States , authority for coining , changes in
weight and fineness , act discontinuing same , and amount coined for each denomination
of coin, since organization , 1792 to June 80, 1915.
Denomination.
Act authorizing coinage or
change in weight or' fine¬
ness.
Weight
(grains).
Fineness.
Pieces.
Total amount
coined to June
30, 1915.
GOLD COINS.
Fiftv-doilar piece, Pa¬
nama-Pacific Inter¬
national Exposition.
Double eagle ($20)
Eagle ($10) .
Jan. 16, 1915 .
1,290
900
900
916$
899.225
900
600
120,757,306
$30,000.00
9 41 ^ 14A 190 OO
Mar. 3i 1819 .
516
Apr. 2, 1792 .
270
258
11i», lWj ImJ* w
June 28, 1834 .
* 51,122,910
mi 99Q inn no
Jan. 18, 1837 .
ul A y y 1 LTvJ. W
Half eagle ($5) .
Apr. 2, 1792 .
135
129
916$
899.225
900
June 28, 1834 .
77,421,794
387,108,970.00
Jan. 18, 1837 .
Quarter eagle ($2.50) . . .
Apr. 2. 1792 .
67.5
916$
899.225
900
June 28, 1834 .
64.5
17,250,490
43,126,225.00
Jan. 18, 1837 .
Quarter eagle ($2.50),
Jan. 16, 1915 .
64.5
900
10,000
25,000.00
Panama-Pacific In¬
ternational Exposi¬
tion.
OPERATIONS OF THE MINT SERVICE
91
No. 10# Coinage of the mints of the United States , authority for coining changes in
weight and fineness, act discontinuing same , and amount coined for each denomination
of coin , since organization , 1792 to June SO, 1915— Continued.
Denomination.
Act authorizing coinage or
changed In weight or fine¬
ness.
Weight
(gralnu.)
Fineness.
Pieces.
Total amount
coined to June
30, 1015.
gold coins— contd.
Ttaroe-dollar piece .
Fob. 21, lSr>3 (act dlscon-
77.4
000
530,702
$1,019,370.00
tinning coinage Hcj,l. 20,
1890).
One dollar .
Mar. 3, 1840 (cu t dlscontlnu-
lng coinage Sept. 29,1890)..
25.8
000
10,499,337
19, 490,337.00
One dollar, Louisiana
PurchawKx position.
June 28, 1902. .
25.8
000
250,000
260,000.00
Apr. 13, 1904 .
One dollar, Lewis and
25.8
900
00,000
00,000.00
Clark Exposition.
One dollar, Pamnna-
Paclfle International
Jan. 10, 1015 .
25.8
900
5,50!)
6,600.00
Exposition.
286,917,729
3,378,000,028.00
BILVEK COIN 8.
iSEssass
Dollar .
Apr. 2, 1792 . . ...
4111
892.4
Jari.18, 1837 (aid discontinu¬
ing coinage Fob. 12, 1873).
VAh 08 1878 .
4I2J
900
.1 678,303,848
' 678,303,848.00
fnlv 14 1 ......
36,006,024.00
Trade dollar 2 .
Fob. 12, 1873 (m l (lltcoiilliiu-
420
900
36,906,024
Lafayet te dollar
IIIK coinage Feb. U», 1887).
Mrir, 3, 1890 .
4125
900
60,000
60,000.00
Half dollar
Apr. 2, 1702 .
208*
892.4
bin 18 1837 .
2001
000
■ 370,708,022
189,884,011.00
01 IKf/l
102
I.-., | . io 1«73
1 102.0
5,000.000
« 2,600,000.00
30,000.00
Columbian half dollar.
1 1 fil 1 I >*, 1 1 <i 1 1 1 < i ,
102. 9
9(H)
102.0
900
00, 000
41UM 'injiiir, i iimiiinv-
Pacific International
Expedition.
Quarter dollar .
Apr. 2, . .
Jan. 18. 18.37 .
104
103|
Oil
b 00. 45
00.45
892. 4
900
► 410,951,308
102,737,827.00
Columbian q uarter
dollar.
T wen ty -cent piece _
Dime
Feb. 21, 1863 .
Feb. 12, 1873 .
Mur 3 1803 . ......
900
40,000
10,000.00
Mar. 3, 1875 (act dlscon! lim¬
ing coinage May 2, 1878).
o 77. 10
41.0
000
802.4
900
1,355,000
1 7 •ri wq7 r,47
271,000.00
73,383,764.70
/» j /j » • 9 *
Jan. 18, 18.37. . . .
Feb. 21, . .
41J
38.4
T 38. 58
20.8
20|
10. 2
Half dime. . . .
Fob, 12, . .
A pr. 2, . .
802. 4
000
| 97,004,388
4,880,210.40
kS;. 21 1 1 8*r»3 ( act d iscontinu¬
ing coinago Fob. 12, 1873).
lM
750
900
\ 42,730,240
1,282,087.20
1 iiree-ceni piece. •• • • . .
ltr.30#lB3(Brtdlii|»i«lln«-
ing coinage Fob. 12, 1873).
11. 52
1
2.286.072,277
080.208.071.30
i
Amount coined to Feb. 12> 1873, 18,031,238.
Sllver-dollor coinage under acin of
Apr. 2, 1792 .
Feb. 28, 1878 .
July U, 1800 . .
Mur. 3, 1801 . . .
Total. . .
1 Coinage limited to export
• P2* gram*, or 192,9 grains.
4 Toi ni amount coined.
• grams, or 00.45 grains.
• ft grams, or 77,19 grain*'
1 H trims, or 38.58 grain*.
demand# Joint
resolution July 22# lS7o,
$378, 190,703
187,027,34/5
A, 078, 472
18,031,238
570,272,010
578, 303, 848
92
REPORT OF THE DIRECTOR OF THE MINT
No. 16.— Coinage of the mints of the United States, authority for coining, changes in
weight and fineness, act discontinuing same, and amount coined for each denomination
of coin, since organization, 1792 to June SO, 1915 — Continued.
Denomination.
minor coin.
Act authorizing coinage or
change in weight or fine¬
ness.
Weight
(grains).
Fineness.
Pieces.
Total amount
coined to June
30, 1915.
Five-cent (nickel) .
Three-cent (nickel) _
Two-cent (bronze) .
Cent (copper) .
Cent (nickel) .
Cent (bronze) .
Half-cent (copper)
May 16, 1866 .
Mar. 3, 1865 (act discontinu¬
ing coinage Sept. 26, 1890).
Apr. 22, 1864 (act discontinu¬
ing coinage Feb. 12, 1873).
Apr. 2, 1792 .
Jan. 14, 1793 .
Jan. 26, 1796 s (act discontin¬
uing coinage Feb. 21, 1857).
Feb. 21, 1857 (act discontin¬
uing coinage Apr. 22, 1864).
Apr. 22, 1864 .
Apr. 2, 1792 .
Jan. 14, 1793 .
Jan. 26, 1796 s (act discontin¬
uing coinage Feb. 21, 1857).
77.
30
96
264
208
16S
72
48
132
104
84
Total minor
Total coinage
16
855, 008, 587 $42, 750, 429. 35
31,378,316 941,349.48
(2)
45,601,000
912,020.00
156,288,744
1,562,887.44
0)
(2)
200,772,000
2,345,481,667
7,985,222
2,007,720.00
23,454,816.67
39,926.11
3, 642, 515, 536 71, 669, 149. 05
6,215,105,542 4,439,067,448.35
1 Composed of 75 per cent copper and 25 per cent nickel.
2 Composed of 95 per cent copper and 5 per cent tin and zinc.
5 By proclamation of the President, in confirmity with act of Mar. 3, 1795.
* Composed of 88 per cent copper and 12 per cent nickel.
No. 17. — United States gold coin i mported and melted by various countries during the
calendar years 191S and 1914 .
Country.
1913
1914
Imports of
United
States gold
coin.
United
States gold
coin melted.
Imports of
United
States gold
coin.
United
States gold
coin melted.
Argentina .
$17,398,364
1,000
Australasia .
Austria .
$69,380
Brazil .
518,394
12,480,252
Canada .
9,012
$117,697, i07
15,000
500
Denmark .
Dutch Guiana .
5,850
41,855
460,000
Finland .
63,855
Haiti .
India .
81,608
19,938
Italy .
Japan .
555
597
1,466,520
33,465
Norway .
Venezuela .
Total .
32,363,387
175,712
117,814,153
OPERATIONS OF THE MINT SERVICE. 93
No. 18. — Foreign coins melted by various countries during the calendar years 1913
and 1914.
Country.
1913
1914
Gold.
Silver.
Gold.
Silver.
United States .
$3,826,676
8,928
$27,821
$4, 940, 269
$321, 170
Canada .
Ceylon .
490,505
Finland .
131,986
Great Britain .
997,438
11,624,730
India .
7,543,264
Japan .
35,386
3,054,063
Turkey .
249,493
Total .
7,057,039
13,389,987
4,940,269
7,864,434
No. 19. — Recoinages of the world, calendar years.
Country.
1913
1914
Gold.
Silver.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Value.
Fine
ounces.
Value.
Fine
ounces.
Value.
United States .
10,527
$217,605
387,419
149,540
$563,758
217,605
84,233
$1,746,266
468, 160
168,738
$647, 423
233,264
Philirmine Islands
A notTCUQcici
1,156
201
1, 158
23,897
4, 151
23,929
XV Llbirdlcioid. ..........
A unf IT 1 1 ▼"* nro r 17
1,022,554
151,539
66,277
8,239
2,761,228
1,249,219
229,930
91,884
10,993
4, 179,250
Austria- Hungary .
Canada .
175
3,625
Finland
France .
3,804
133,077
675,957
78,632
2,750,951
14, 112, 850
uermany .
Great Britain .
1,876,203
13,342,160
95,383
887,571
2,956,636
13,253,808
144,293
1,315,905
7,998,710
9,571
7,945,742
14,493
888,936
233,855
575, 112
309,352
172,610
16,268
2,043,036
1, 109,239
24,556
26, 153
392,386
23,852
1,734,547
995,752
35,912
37,723
Turkey
13,240
273, 70i
737,831
1,280,000
Total .
. 839, 120
17,485,716
24,139,975
27,433,453
84,408
1,749,891
10,505,801
11,005,386
94
REPORT OF THE DIRECTOR OF THE MINT,
No. 20. — Coinage of the mints of the United
[Coinage of the mint at Charlotte, N. C., from its organization, 1838, to its suspension, 1861. Abolished
June 30, 1913.]
Calendar years.
Gold.
Total value.
Half eagles.
Quarter eagles.
Dollars.
1838 to 1861 .
$4,405,135
$544,915
$109,138
$5,059,188
[Coinage of the mint at Carson City from its
Gold.
Silver.
Calendar years.
Double eagles.
Eagles.
Half eagles.
Dollars.
Trade dollars.
1870 to 1893 .
$17,283,560
$2,997,780
$3,548,085
$13,881,329
$4,211,400
[Coinage of the mint at New Orleans from its organization, 1838, to
Calendar years.
Gold.
Silver.
Double
eagles.
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dollars.
Dollars.
1838 to 1900 .
1900
$16,375,500
$19,804,320
$4,447,625
$72,000
$3,023,157.50
$1,004,000
$144,395,529
12,590,000
13,320,000
8,630,000
4,450,000
3,720,000
1001
720,410
1902
iom
1, 127,710
1,089,500
1Q04
1905 .
IQOTi
868,950
1907 .
1908 .
1QOO
171,000
Total .
16,375,500
23,610,890
4,618,625
72,000
3,023,157.50
1,004,000
187, 111,529
[Coinage of the mint at San Francisco from
Calendar
years,
Gold.
Double
1854-1900 $929, 075, 020
1900.
1901..
1902..
1903..
1904..
1905..
1906. .
1907.
1908.
1909.
1910.
1911.
1912.
1913.
1914.
49, 190,000
31,920,000
35, 072, .500
19, 080, 000
102,683,500
36,260,000
*41,315,000
43,316,000
440,000
55, 498, .500
42,565, 000
15,515,000
$74, 122, 0G0
810,000
28, 127, 500
4, G95, 000
5,380,000
Total..
680,000
29,960,000
1,432,570,520
Eagles.
Half
eagles.
3,692,500
4,570,000
2, 105,000
598,500
2, 923, .500
8,110,000
510,000
3, 000, 000
660,000
2, 080, 000
$78,244,540
1,645,000
18,240,000
4,695,000
9,275,000
485,000
4,403,500
2,990,000
141,384,060
$18G, 300 $1,861,255
410,000
1,486,000
3,851,000
7,080,000
1,900,000
2,040, 000
1,315,000
138,120,040
Three
dollars.
Quarter
186,300
$90,232
1,861,255
Dol¬
lars.
90,232
Silver.
Dollars.
$98,624,073
3,540,000
2,284,000
1,530,000
1,241,000
2,304,000
$26,047,000
109,523,073
Trade
dollars.
26,047,000
Half
dollars
$20,575,031.50
1,280, 161.00
423,522.00
730,335.00
960,386.00
276,519.00
1,247,000.00
870,077.00
625,000.00
822,414.00
882,000.00
974,000.00
636,000.00
685,000.00
302,000.00
496,000.00
31,785,445.50
OPERATIONS OF THE MINT SERVICE
95
States from their organization, by calendar years.
[Coinage of the mint at Dahlonega, Ga., from its organization, 1838, to its suspension, 1861.
Calendar years.
Gold.
Half eagles.
Three dollars.
Quarter eagles.
Dollars.
1838 to 1861 .
$5,536,055
$3,360
$494,625
$72,529
Total value.
$6,106,569
organization, 1870, to its suspension, June 30, 1893.]
Silver.
Total coinage.
Half dollars.
Quarter dol¬
lars.
Twenty
cents.
Dimes.
Gold.
Silver.
$2,654,313.50
$2,579,198.00
$28,658.00
$2,090,110.80
$23,829,425.00
$25,445,009.30
Total value.
$49,274,434.30
its suspension, 1861, and from its reopening, 1879, to April, 1909.]
Silver.
Half
dollars.
Quarter
dollars.
Dimes.
Half
dimes.
Three
cents.
$28,720,038
1,372,000
562,000
1,263,000
1,050,000
558,800
252,500
1,223,000
1,973,300
2,680,000
462,700
$7,452,250
854,000
403,000
1,187,000
875,000
614,000
307,500
514,000
1,140,000
1,561,000
178,000
$3, 262, 590. 60 t
201,000.00
562,000.00
450,000.00
818,000.00
340,666.66
261,000.00
505,800.00
178,900.00
228, 700. 00
5812, 327. 5<
3 $21,600
.
.
40,117,338
15,085,750
6,807,990.60
812,327.5
0 21,600
Total coinage.
Gold.
$44,726,602.50
720, iio. 66
'i,'i27,710.00
1,089,500.00
"'868,’ 950.’ 66
'''in, ‘666.’ 66
Silver.
$184,064,335. 10
15,017,000.00
14,847,000.00
11,536,000.00
7, 193,000.00
4,892,800.00
900,000.00
1,998,000.00
3,619,100.00
4,419,900.00
• 869,400.00
48,704,172.50
249,956,535. 10
Total value.
$229,390,937.60
15,017,000.00
15,567,410.00
11,536,000.00
8,320, 710.00
5,982,300.00
900,000.00
2,866,950.00
3,619,100.00
4,419,900.00
1,040, 400.00
298,660,707.60
its organization, 1854, to Dec. 31, 1914.]
Silver.
Quarter
dollars.
Twenty
cents.
58,322,569.00
464,646.25
18, 166.00
381,153.00
259,000.00
$231,000
471,000.00
340,000.00
196,000.00
337,000.00
247, 000. GO .
177,000.00 .
10,000.00
66,000.00
11,289,534.25
231,000
Dimes.
$4,798,728.
516, 827.
59,302.
207,000.
61.330.
80,000.
685,519.
313.664.
317,847.
322,000.
100,000.
124,000.
352.000.
342,000.
51,000.
210.000.
00
20
00
00
00
90
00
00
00
00
00
00
00
Half
dimes.
Gold.
78.287.500
44.462.500
33, 735, 000
103, 168,500
44,356,000
48,875,000
45,42i,000
1,448,500
59,908,000
54,526,000
23,105,000
4,960,000
3,380,000
33,355,000
Silver.
8,541,218.
“UM00| 1-714,212,407
S159, 317, 502.30
5,801,634.2a
2,784,990.20
2.848,488.00
2.521.716.00
2.660.519.00
2.403,519.90
1. 183,741. 00
1,282.847.00
1 340,414.00
1 319 000.00
l! 098. 000. 00
1,235,000.00
1 204,000.00
,363 000. 00
772,000.00
188,136,371.65
Minor
$ii,i50.oo
26,180.00
60,450.00
40, 260. 00
56,210.00
226,710.00
214,870.00
”635,830.00
Total value.
$1,242,
57,
81,
47,
36,
105.
46,
50.
46,
2,
61,
55,
24,
6,
3,
34,
896,909.30
446,634.25
072,490.20
310,988.00
256.716.00
829,019.00
759.519.90
058,741.00
703,847.00
800,064.00
253, 180.00
6S4.450.00
3S0.260.00
220,210.00
,969,710.00
341,870.00
1,902,984,608.65
96
REPORT OF THE DIRECTOR OF THE MINT
No. 20. — Coinage of the mints of the United States
Calendar years.
Minor coinage.
Five cents.
1908 .
1909 .
1910 .
1911 .
1912. . . . .
$11,900.00
105, 700.00
173,500.00
1913 .
1914 .
Total . .
351, 100.00
[Coinage of the mint at Philadelphia from
Calendar years.
Gold coinage.
Double
eagles.
Eagles.
Half eagles.
Three
dollars.
Quarter
eagles.
Dollars.
1793 to 1900 .
$522,641,300
37,491,680
2,230,520
625,080
5,748,560
125,135,940
1,180,220
1,393,800
36,495,620
88,558,200
3,225,640
9,643,340
3,947,000
2,996,480
3,376, 760
1,906,400
$218,387,890
2,939,600
17,188,250
825,130
1,259,260
1,620,380
2,010,780
1,654,970
14,433,790
3,749,860
1,848,630
3,187,040
5,055,950
4,050,830
4,420,710
1,510,500
$157,644,765
7,028,650
3,080,200
862,810
1,135,120
1,960,680
1,511,540
1,744,100
3,130,960
4,999,430
3,135,690
3,021,250
4,575, 695
3,950,720
4,580,495
1,235,625
$1,357,716
$23,023,902.50
168,012.50
228.307.50
334.332.50
503.142.50
402,400.00
544,860.00
441,225.00
841,120.00
1.412.642.50
1.104.747.50
1,231,705.00
1.760.477.50
1.540.492.50
1.805.412.50
600.292.50
$18,223,438
1900 .
1901.
1902 .
175,000
1 175,000
2 25,000
2 35, 000
1903 .
1904 .
1905 .
1906
1907
1908
1909.
1910
1911 .
1912 .
1913.
1914.
Total .
846,596,540
284,143,570
203,597,730
1,357,716
35,943,072.50
18,533,438
Calendar years.
Minor coinage.
Five cents.
Three cents.
Two cents.
1793 to 1900 .
$17,444,363.35
1,362,799. 75
1,324,010.65
1,574,028. 95
1.400.336.25
1,070,249.20
1,491,363.80
1.930.686.25
1,960,740.00
1,134,308.85
579,526. 30
1,508,467.65
1,997,968. 60
1,311,835.70
3,042,611.95
1,033,286. 90
$941,349.48
$912,020.00
1913 .
Total .
40,146,584. 15
941,349. 48
912,020.00
i Louisiana Purchase Exposition.
2 Lewis and Clark Exposition.
OPERATIONS OF THE MINT SERVICE
97
from, their organization, by calendar years — Continued.
Minor coinage.
Three cents.
Two cents.
Cents.
Half cents.
Total.
$11,150.00
26,180.00
60,450.00
40,260.00
44,310.00
61,010.00
41,370.00
$11,150.00
26,180.00
60,450.00
40,260.00
56,210.00
226,710.00
214,870.00
284,730.00
635,830.00
its organization, 1793, to Dec. 31, 1914.]
Silver coinage.
Trade
dollars.
$5,107,524
Dollars.
$236,558,010
3 8,880,912
6,962,813
7,994,777
4,652.755
2,788,650
Half dollars.
5,107,524 267,837,916
$93,763,709.00
2,381,456.00
2. 134.406.50
2.461.388.50
1.139.377.50
1,496,335.00
331.363.50
1.319.337.50
1.299.287.50
677.272. 50
1,184,325.00
209.275.50
703.271.50
775,350.00
94,313. 50
62,305 00
Quarter
dollars.
Twenty
cents.
$43,487,230.25
2,504,228.00
2.223.203.25
3,049,436.00
2,417,516.00
2.397.203.25
1,242,062.50
914. 108. 75
1,798,143.75
1.058, 136.25
2.317.162.50
561.137.75
930.135.75
1,100,175.00
121,153.25
1.561.152.50
110,032,774.00; 67,682,184.75
$11,342
Dimes.
$24,715,379.80
1,760,091.20
1,886,047.80
2, 138,077.70
1,950,075.50
1,460,102.70
1,455,235.00
1,995,840.60
2,222,057.50
1,060,054.50
1,024,065.00
1,152,055.10
1,887,051.30
1,935,070.00
1,976,062.20
1,736,065.50
Half dimes.
$3,948,791.90
11,342 50,353,334.40 3,948,791.90 1,260,487.20
Three cents.
51,260,487.20
Minor coinage.
Cents.
$13,347,409.39
668,337.64
796,111.43
873,767.22
850,944.93
613,280. 15
807,191.63
960,222.55
1,081,386. 18
323', 279. 87
1,150,682.63
1,468,012. 18
1,011,777. 87
681,530.60
765,323.52
752,384.32
26,151,642. 11
Half cents.
Total coinage.
Gold.
$39,926.11
39,926.11
$941,279,012.50
47.627.942.50
22.727.277.50
2.722.352.50
8 821,082.50
129 144,400.00
5,282,400.00
5,234,095.00
54,901,490.00
98.720.132.50
9.314.707.50
17 083,335.00
15.339.122.50
12.538.522.50
14.183.377.50
5 252,817.50
1,390,172,066.50
3 includes 50,000 Lafayette souvenir dollars.
Silver.
Minor.
$408,852,474.15
15.526.687.20
13,206,470.55
15.643.679.20
10,159,724.00
8.142.290. 95
3,028,661.00
4,229,286.85
5,319,488.75
2,795,463.25
4 525,552.50
1,922,468.35
3,520,461.55
3,810,595.00
2.191.528.95
3,359,523.00
$32,685,068.33
2,031, 137.39
2,120, 122.08
2,447,796. 17
2 251.2S1.18
1,683,529.35
2 298,555.43
2,890,908.80
3,042,126. 18
1 457.5SS.72
1 730,208.93
2 976,479.83
2,989,746. 47
1 993,366.30
3 807,935.47
1, 785, 671. 22
506,234,355.25
_ Hnl
68,191,521.85
Iats.
Total value.
$1,382,
65,
38,
20,
21,
138,
10,
12,
63,
102,
15,
21,
21,
18,
20,
10,
816,553.98
185,767.09
053,870. 13
813,827.87
232,087.68
{TO, 220. 30
609,616.43
354,290.65
263.104.93
973,184. 47
570.468.93
982,283. 18
S49.330.52
342,483.80
182,841.92
398,011.72
1,964,597,943.60
9760°— 15 - 7
98
REPORT OF THE DIRECTOR OF THE MINT,
No. 20. — Coinage of the mints of the United States
[Coinage at the mint at Denver from
Calendar years.
Gold coinage.
Double
eagles.
Eagles.
Half eagles.
Quarter eagles.
1906 .
$12,405,000
16,845,000
20,265,000
1,050,000
8,580,000
16,930,000
$9,810,000
10,300,000
10,465,000
1,215,400
23,566,400
301,000
$1,600,000
4,440,000
740,000
17,117,800
968,000
362,500
1907 .
1908 .
1909 .
1910 .
1911 .
*139,200
1912 .
1913
7,870,000
9,060,000
1914 .
3,435,000
1,235,000
1,120,000
Total .
93,005,000
59,092,800
26,463,300
1,259,000
OPERATIONS OF THE MINT SERVICE,
99
from their organization, by calendar years Continued.
February, 1906, to Dec. 31, 1914.]
Silver coinage.
Minor coinage.
Total coinage.
Total value.
Half
dollars.
Quarter
dollars.
Dimes.
Five
cents.
Cents.
Gold.
Silver.
Minor.
$2,014,000
1,928,000
1,640,000
347,540
1,150,400
267,000
$820,000
621,000
1,447,000
1,278,500
375,000
233,400
362,700
761,500
$406,000
408,000
749,000
95,400
349,000
1, 120,900
1,176,000
1,190,800
$423,700
474,650
195,600
$126,720
104,110
158,040
11,930
$23,815,000
31,585,000
31,470,000
19,383,200
33,114,400
17,732,700
7,870,666
14,850,000
$3,240,000
2,957,000
3,836,000
1,373,900
724,000
1,701,840
2,326,400
629,700
1,952,300
$126,720
527,810
632,690
207,530
$27,055,000
34,542,000
35,306,000
20,757, 100
33,838,400
19,561,260
2,854,210
9, 132,390
17,009,830
7,346,940
5,899,100
5,495, 100
1,093,950
400,800
179,820,300
18,741,140
1,494,750
200,056,190
100
REPORT OF THE DIRECTOR OF THE MINT,
No. 20. — Coinage of the mints of the United States
RECAPITULATION.
Calendar years,
Double
eagles.
Eagles.
Gold coinage.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dollars.
1793-95...
1796 .
1797 .
1798 .
1799 .
1800 .
1801 .
1802 .
1803 .
1804 .
1805 .
1806 .
1807 .
1808 -
1809 _
1810..-.
1811....
1812....
1813.. ..
1814.. ..
1815.. ..
1816.. ..
1817.. ..
1818.. ..
1819.. ..
1820.. .,
1821...
1822...
1823.. .
1824.. .
1825.. .
1826.. .
1827.. .
1828.. .
1829.. .
1830.. .
1831 .. .
1832.. .
1833.. .
1834.. .
1835..
1836..
1837..
1838..
1839..
1840..
1841..
1842..
1843..
1844..
1845..
1846..
1847..
1848..
1849..
1850..
1851..
1852.
1853.
1854.
1855.
1856.
1857.
1858.
1859.
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867
1868
1869
$27,950
60,800
91,770
79,740
174,830
259,650
292,540
150,900
89,790
97,950
$43,535
16,995
32,030
124,335
37,255
58,110
130,030
265,880
167,530
152.375
165,915
320.465
420.465
277,890
169.375
501.435
497,905
290. 435
477, 140
77,270
3,175
$165.00
4,390.00
1,535. 00
1,200. 00
6,530.00
1,057.50
8.317. 50
4.452.50
4,040.00
17,030.00
6, 775.00
$26,225,220
48,043,100
44.860.520
26.646.520
18,052,340
25,046,820
30, 437,560
28.797.500
21,873,480
13,782,840
22,584,400
74,989,060
18,926, 120
22,187,200
19,958,900
27,874,000
30.820.500
23,436,300
18,722,000
17,238, 100
560,502,480
72,000
382,480
473,380
656,310
1,089,070
2,506,240
1,250,610
736,530
1,018,750
14,337,580
1,813,340
6,775,180
3,489,510
4,393,280
2,811,060
2,522,530
2,305,760
1,487,010
1,429,900
481,060
343,210
253,930
278, 830
1,287,330
234,950
112,480
60,800
207,050
237,800
121,400
241,550
82,850
54,819,680
242,940
258,615
1,319,030
173,205
88,980
72,425
86,700
145,300
90,345
124,565
140, 145
287,210
631,755
702,970
787,435
968, 150
3,660,845
1,857,670
2,765,735
1,035,605
1,600,420
802, 745
1,048,530
380,945
655,330
4,275,425
4,087,715
2,743,640
2, 736, 155
5,382,685
1,863,560
1,184,645
860, 160
2,651,955
3,689,635
2,305,095
1,513,235
1,257,090
1,806,665
1,232,970
439,770
361,235
352,365
3,332,130
69,825
97,360
40,540
144,535
253,200
179,600
288,625
163,925
67,470,880
$491,214
171,465
181,530
104,673
6,399
46,914
42,465
18,216
17,355
15,117
8,040
3,495
12,090
7,950
14,625
7,575
1,149,123
16,120.00
6,500.00
11,085.00
1,900.00
7,000.00
8,507.50
11,350.00
II, 300.00
11,000.00
10, 400. 00
293,425.00
328,505.00
1,369,965.00
112,700.00
137,345.00
191.622.50
153,572. 50
54.602.50
85,007. 50
1.327. 132. 50
89,345.00
276.277. 50
279.272. 50
482,060.00
98.612. 50
III, 147.50
895.547. 50
3.867.337.50
3.283.827.50
3,519,615.00
1.896.397. 50
600, 700.00
1.213.117. 50
796,235.00
144,082. 50
142,220.00
164,360.00
3,241,295.00
300. 882. 50
27,075.00
7,185.00
62.302. 50
105,175.00
78, 125. 00
94,062.50
84.612. 50
26,065,402.50
$936,789
511,301
3,658,820
2,201,145
4,384,149
1,657,016
824, 883
1,788,996
801,602
131,472
193,431
51,234
527, 499
1,326,865
6.250
5,950
3,725
7, 180
5.250
10,525
5,925
19,040,007
Carried forward.
OPERATIONS OF THE MINT SERVICE,
101
from their orgartizaiion, by calendar yeartr- Continued.
RECAPITULATION.
Silver coinage.
Trade
deHart-
Dollars, Half dollars.
Quarter
dollars.
Twenty j
cents.
Dimes. Half dimes. Three cents.
*204,791
n.vst
7 ,776
127,595
429,515
220,920
54,454
41,050
V,.*fA
19,570
321
*151,572.00
""i'sss.'oo
ll.47J.50
53.00
15.144.50
14,945.®
15.557.50
7 s,m»
1O5.WL00
4W, m®
525, m«
6S4.3TO.®
702,905.®
CSS, 138.®
501,022.00
S14.029.50
020,951.50
510.537.50
1,084.60
30,34 s. 50
51.53LOO
55,160.75
«,21A50
2,526.10
2,755.®
"z'iTioo
3,464.®
1,097.50
3,304.00
K26.50
12,078.®
*4,320.®
511.®
2,226.35
1,200.®
1 96.50
650.®
1,892.®
1,00C
3®
61. ®5
173. IW
134,61*
165,1®
20.000
24.500
1- 0
140,7®
15,0®
02,6®
47,5®
1,300
1.1®
46,110
33.U0
26,0®
63.500
04,000
636,6®
733,930
78.5®
12,0®
27, 6®
31,170
47.0®
49,625
60,325
132,7®
424,3®
23,575.®
607 752. 50
9®, 161.®
1,104,0®.®
375, 561.®
652, 80S.®
779, 7*1.50
847,1®.®
1,752,477.®
1,471,5*3.®
2.002,0®-®
2,746,700.®
1,537,6®.®
1,856,078.®
2,382,4®-®
2,936,830.®
2,396,500.®
2,603,0®.®
3. 2®. 002.®
2,676,003.®
3,273,100.®
1,814.910.®
1 773,0®. W
1,743,768.®
1,145,054.®
355,60a®
1,484.882.®
3,056,000.®
1>.S5, 5®.®
1,341.500.®
2,267,0®.®
1,870, ooa®
1’ 880, 00a®
1,781,0®.®
1,341,5®-®
301.375.®
110,565.®
2.430,364.®
4,111,0®.®
2, 2SS, 726. ®
1,903,-6®.®
1,4*2,000.®
5,093,0®.®
2,074,0®.®
1 032,s-yi.®
2, 07*, 960.®
’802,175.®
709,830 ®
518,785.®
593,4®.®
899,812.®
810, 162.®
769,1®-®
725,9®.®
17,308.®
5,0®. 75
16,50a®
"i 'in'®
635.®
6,518.®
42, 150.®
90, 293. ® !
36,0®.® . a,-ra-nl
g'SS :::::::::
wlmw . 10,000.®
4, 45a® I . I 44,00a®
42,000.00 . . 51,666.®
1 ®0 Of) I . I 121,5®.®
25 5®;® ! . 12.5®.®
■®’ | | 77,000.®
51,0®.®
99,5®.® | . I ^,135.®
80,000.® . . m
*¥A rrjfj f/j . 48,500.00
mo 00® . i4i,o®.w
118 TOO ® . 119,0®.®
208,000.® . w’^70
143,0®.® .
214,26a® . 390,7®.®
403,4®.® .
290, 3W.® . iJ’®0®
2®,-6W.® .
p5’®0 00 24* 5®1 ®
^ W ® - 45,1®.®
MM#S — 113,9®.®
1®’™'®" -• 244.1®.®
«:2®:®
*«ssl .
2, 129. ®0.®
2.726.500.00
2,002,250.®
421,01)0.®
312,3®.®
1,237,6®.®
249, 887. ®
48,015.®
28,517.®
25,075.®
11.381.25
17. 156. 25
31,-600.®
23,1®-®
21,727,878.®
207,5®.®
703,0®.®
712,0®.®
1*0,0®.®
97,0®.®
73,7®.®
209,6®.®
102,8®.®
17,1®.®
26, ®7.®
18,5®.®
14.372.®
14.662. M
72,625.®
70,660.®
61,5®.®
62, ®0.®
62,135.®
48,2®.®
68,5®.®
74,0®.®
133,0®.®
95,0 M.®
113,8®.®
112.7W.®
108,285.®
113,954.25
98,2®.®
58, 2®. ®
58,2®.®
32,5®.®
78,2®.®
1,3®.®
63,7®.®
63, 4®. ®
72,4®.®
82,2®.®
82,0®.®
63,025.®
785,251.®
365,0®.®
117,5®.®
299,0®.®
433,0®.®
258,0®.®
45,0®. ®
92,9®.®
164,0®.®
74,627.®
5,923.®
4,523.®
6,675.®
6,5®. 25
6,431.25
13,295.®
21,9®.®
*135,022.®
559, 905- TO
342,0®.®
20,1®.®
4,170.®
43,740.®
31,2®.®
48, 120. ®
10,9®. ®
8 610.®
11,940.®
10,9®.®
643. 80
14.10
256. TO
681.75
138.75
123.®
153.®
8,376,184.10 4,629,818.®
1,231,762.®
102
REPORT OF THE DIRECTOR OF THE MINT,
No. 20. — Coinage of the mints of the United States
RECAPITULATION — Continued.
Gold coinage.
Calendar years.
Double
eagles.
Eagles.
Half
eagles.
Three
dolors.
Quarter
eagles.
Dollars.
Brought forward . . .
$5®. 502. 450
J54.S19.680
167,470.880 $1,149,123
$26,065,402.50
$19. oiaoa:
1^0 .
22.819.483
164.430
143.530
10,605
51.3S7.50
9,335
TS71 .
20,436.7*0
254,650
245.000
3,990
6S.375.00
3,930
1ST* .
21.230.600
2*4.500
275.330
6,090
52.575.00
3,530
1873 .
55, *56. TOO
173.6SO
754,605
75
512,562.50
125,125
1874 .
33.917.7W
7w.ro
303,530
125,460
9,85000
198, S20
1S75 .
32,737.820
7S.350
105,240
60
30. 05a 00
420
1876 .
46,38x930
104.250
61,830
135
23.052.50
3,245
1S77 .
43.otM.7CO
211,490
182.660
4.464
92, 63a 00
3,920
1S7S .
45,916.500
1.031,440
1,427.470
246.972
1.160, 65a OO
3,020
1S79 .
28.589.360
6.120.330
3. 727, 155
9.090
331,225.00
3,030
1580 .
17,749.120
21.715,160
22.831.765
3, 108
7, 49a 00
1,636
1SS1 .
14.585.2X)
4*. 795. 230
33.458.430
1.650
l.Toaoo
7,660
1SS3 .
23.295.400
24.740.640
17.S31.S85
4,620
io. loaoo
5,0*0
1SS3 .
24.W0.040
2.595.400
1,647,92)
2,830
4.90100
10,840
1S54 .
19.544.20
2, 110,800
1,922.250
3,318
4.W2.50
6,206
1S85 .
13,875.560
4,815,270
9.065.030
2,730
2,217.50
12.205
1SS6 .
22.120
10.621.600
18.282. 160
3,426
10.22100
6.016
1SS7 .
5.662.430
8, 2©, a©
9,560.435
IS. 480
15,705.0.)
8,543
1SSS .
21.717.320
8,030.310
1,560,980
15,873
40.245.00
16.080
1S89 .
16.993,120
4,295.850
37.825
7,287
44,12100
30,729
LSW
19,399.080
755.430
291.640
22.032.50
25.891.340
1.956,000
1.347.065
27.eoaoo
1892
19.238,760
9.817.400
5.724,700
6.362.50
1893
27,178,330
2). 132. 450
9,610,985
75.265.00
1894
48.350.500
26.0S2.790
5.152,275
10.30x00
1895
45. 163. 130
7.148,360
7,289.65©
15,297.50
1S96
43.931,760
20C0.950
1,072.315
48.005.00
1S97 .
57,070.22)
12.774.090
6. 109.415
74. 76a 00
1898
54,912.900
12.857,970
10,154.475
60.412.50
18» . .
73,593.6880
21.403.520
16.278,645
68,375.00
I960
86,681,650
3,749.600
S. 673, 650
168,012.50
19Q1
34,150,520
46.036. 160
21,320,200
228,307.50
1902 .
35,697,580
5, 52). 130
5. 5o< , 810
334. 332. 50
4 75,000
X903 .
24.528.56©
7.766.970
10,410.120
503, 142.50
4 175,0©
194>4 .
^>7. 819. 440
2,709.880
2,445.680
402.40a00
•25,000
1905 .
37.440.22)
5,703.280
5.915.040
544, sea 00
•35,0©
1906 .
55. 113. SCO
16,903.920
6.334. 100
441.225.00
1907
95.656.6530
26.838.790
7, 570, WO
S4i,ioaoo
1908 .
109.263.2©
14.813.360
6.149.430
1,412.642. 50
19W .
59.774. 140
5,987.530
21.910.490
1,104, 747.50
1910 .
6©, 75^.340
34.963.440
7,840.^0
1.231.705.00
1911 .
36,382.000
5,966.950
12.018. 195
1.899.677.50
1QI? .
2.996.450
7,050.830
5.910,720
1.540, 492. 50
1913 .
11, 926s. 760
5,080.710
6,620.495
1 , SOS. 412. 50
1914 .
40.926.4C©
7,025.500
3.785,625
1,721 292. 50
Total .
. 2405,831.120
511,229,100
970
1,619,376
43,126.225.00
19,803,337
i Includes $475,000 in Columbian coins.
> Includes $2,025,000 in Columbian coins.
1 Includes $10,000 in Columbian
OPERATIONS OF THE MINT SERVICE
103
from their organization, by calendar years — Continued.
RECAPITULATION— Continued.
104
REPORT OF THE DIRECTOR OF THE MINT
No. 20. — Coinage of the mints of the United States
RECAPITULATION — Continued.
Calendar years.
Minor coinage.
Five cents. Three cents.
Two cents.
1793-1795 .
1S05
1S06 v
1S07
ISOS
.
1309
1S10
1S11
1812
::::::::::::::::::
1S13 .
. f .
1814
1S15
1816
1S17 .
ISIS
1S19 .
1830
. .
1S21. .
:::: .
1S22
1
1323 .
::::::::::::::::::
1S24 . . .
1325 .
1S26 .
1827 .
. .
1S2S .
.
1S29 .
1330 .
1831 .
; ; ;; .
1332 .
1S33 .
1334 .
1335 .
1336 .
. I . T .
1837 .
1333 .
::::::::::::::::::::::::: .
1S39 .
1846 . .
*
1S41 .
1542 .
is*3 . :: .
1844 . . . . .
1845 .
1847 .
is** . ; . .
ism::.:: . :::::::::::::::::: ::: .
. ::::::::::::::::: .
$396, 950. 00
272,800- 00
63,540.00
58,775.00
56,075.00
30,930.00
1865 .
1896 .
1867 .
* 1868 .
1859 .
Carried forward .
#■
ST37.125.00
1,545,475.00
1,440, S30. 00
819, 75a 00
Wf'pf
88838
4,543, 2CXX00
74s,6aaoo
879,07a 00
OPERATIONS OF THE MINT SERVICE
105
from their organization , by calendar years — Continued.
RECAPITULATION — Continued.
Minor coinage.
*
Total coinage.
Cents.
Half cents.
Gold.
Silver.
Minor.
$10,660.33
9,747.00
8,975. 10
9,797.00
9,045.85
28,221.75
13,628.37
34,35L00
24,713.53
7,568.38
9,411.16
3,480.00
7,272. 21
1L090.00
2, 228. 67
14,5S5. 00
2,180.25
10, 755. 00
$712.67
577.40
535.24
$71,485.00
77,960.00
128,190.00
205,6ia00
213,285.00
317,760.00
422,570.00
423.310.00
25S, 377. 50
258.642.50
170.367.50
324,505.00
437,495.00
£4,665.00
169,375.00
501.435.00
497.905.00
290.435.00
$370,683.80
77. 11S. 50
14,550. 45
330,291.00
423.515.00
224,296.00
74, 75S. 00
$11,373.00
10.324. 40
9,5ia 34
9,797.00
9. 106. 6$
29.279.40
13,62$. 37
60. S3
1,057.65
7L83
4S9.50
5,276.56
4,072.32
1,7S0. 00
2, 380. 00
2,000.00
5,772.86
1,075.00
315. 70
58,343.00
87,118.00
100.340. 50
149.388.50
471.319.00
597,44s. 75
6S4.300.00
707, 376. 00
638.773.50
608,340.00
814,029.50
34.422LS3
25.203.03
12,S44.£4
13,483. 48
5.260.00
9,652.21
13,090.00
8,001.53
15,660.00
2,495.95
10, 755. 00
4,180.00
3,578.30
477,140.00
620,951.50
4,180.00
77, 27a 00
561,687.50
3,578.30
3,175.00
17, 308. 00
.
28,209.82
39,484.00
31,670.00
26, 710. 00
28,575. 75
28,209.82
607,783.50
39, 4»$4. 00
242,940.00
258.615.00
1,070,454.50
31,670.00
1,140,000.00
26,710.00
44,075.50
3,890.00
20,723.39
1,319.030.00
189.325.00
501.680. 70
44,075.50
$25,762. 45
3,890.00
88,980.00
805,806.50
20,723.39
72.425.00
895,550.00
12,620.00
14,611.00
15,174.25
23,577.32
22,606.24
14,145.00
17, 115. 00
33,592.60
23,620.00
27,390.00
18,551.00
38,784.00
21,110.00
55,583.00
63,702.00
31,2*6.61
24,627.00
15,973.67
23,833.90
24,283.20
23,987.52
38,948.04
41,208.00
61,836.69
64, 157. 99
41,785.00
44,268.44
98,897.07
630 44
93,200.00
156.385.00
92,245.00
131,565.00
1,752.477.00
12,620.00
315.00
1,170.00
1,564,583.00
2,002,090.00
2,869,200.00
14,926.00
16,344.25
23, 5< * . 32
3,030.00
2,435.00
140. 145.00
295,717.50
643, 105.00
714,270.00
798,435.00
1.575,600.00
1,994,578.00
2, 495,400.00
25,636.24
16,580.00
17,115.00
11.00
3,175.600.00
2,579,000.00
33,603.60
23,620.00
770.00
600.00
705.00
1,990.00
97S.550.00
3,954,270.00
2,186, 175.00
4,135,700.00
1,148,305.00
2,759,000.00
3,415,002.00
3,443,003.00
3,606,100.00
2,096,010.00
28, 160.00
19, 151.00
39,489.00
23,100.00
55,583.00
1,809,765.00
2,333.243.40
63,702.00
1,376,847.50
2,209,778.20
31,286.61
1,675,482.50
1,726,703.00
24,627.00
1,091,857.50
1.132,750.00
15, 973. 67
1,829,407.50
2,332,750.00
23,833.90
24,283.20
23,987. 52
38,948.04
41,208.00
61,836.69
64,157.99
41,984. 32
44,467. 50
99,635. 43
50,630. 94
67,059. 78
42,638.35
16,030. 79
27, 106. 78
178,010. 46
246,000.00
364,000.00
205,660.00
ini nnn on
8, 108,797.50
3,834,750.00
5,427,670.00
2,235,550.00
3,756,447.50
1,873,200.00
4,034,177.50
2,558,580.00
20,202,325.00
2,374,450.00
3,775,512.50
2,040,050.00
199. 32
199.06
738.36
9,007,761.50
31.981.738.50
62.614.492.50
56.846. 187.50
2,114,950.00
1,S66, 100.00
774,397.00
999,410.00
iKiv. in
66,411.31
42,361.56
15,748.29
26,904.63
177,834.56
oic nno 00
648.47
276.79
282.50
202. 15
175.90
39,377,909.00
25.915.962.50
29,387,968.00
36.857.768.50
32,214,010.00
22.938.413.50
9,077.571.00
8,619,270.00
3,501,245.00
5,142,240.00
5,478,760.00
8,495,370.00
3,284,450.00
2,259,390.00
3,783, 740.00
1,252,516.50
809,267.80
609,917.10
691,005.00
982.409.25
908.876.25
1,074,343.00
1,266, 143.00
jCrKti UUv. w
ru ji non oo
14,780,570.00
«Xn , uuu. w
90r\ OOO 00
23,473,654.00
AK), UUU. UU
ini non oo
83,395,530.00
1U1, uuu. w
280,750.00
4qc Arm no
1U1 , UU
ovn rcs\ 00
20,875,997.50
22,445,482.00
20,081,415.00
A3U, iw. w
jQv mo oo
llJo, ‘iUU. UU
Vsjn. WU. UU
=i9Q 737 14
uS# • 11
968,552.86
1 019 QOO no
7, lOI.
3iV4 9Q9 86
28,295, 107.50
QC Qfvri 00
31.435,945.00
l, in*, you. uu
i viQ oio no
«7*0, UU
qv 9i n oo
23,828,625.00
i, oiy, y*u. uu
i fiQ7 i Vi no
it', irlU. w
irr> aas 00
19,371,387.50
i, uyi , mu. uu
003 000 00
04,200.00
17,582,987.50
jJvK) j vUv* UU
4,680,577.44
39,926. 11
729,047, 572. 50
136,478,368.40
10,891,393.55
Total value.
$453,541.80
165,402.90
152, 25a 79
545, 69$. 00
645, 906. 68
571,335.40
510,956.37
516, 075. S3
370.69S. 53
371, S27. 94
333.239. 4S
S01.0S4.00
1,044,595.96
982,055.00
SS4.752.53
1.155.868.50
1.108,740.95
1.115. 219.50
1.102.271.50
642,535.80
20,483.00
56,785.57
647,267.50
1,345,064.50
1,425.325.00
1,S64,7S6. 20
1,018,977. 45
915,509.89
967,975. 00
1,858, 297.00
1, 735, 894. 00
2,110,679.25
3,024,342. 32
1,741,381.24
2.306.875.50
3,155,620.00
3,923,473.60
3,401,055.00
3,765,710.00
7,3SS, 423. 00
5,668,667.00
7,764,900.00
3, 299, S98. 00
4.206.710.40
3,617,912.31
3, 426i 812. 50
2,240,581. 17
4.185.991. 40
11,967,830.70
7,687,207. 52
5, 66S, 595. 50
6,633,965.54
22,63S,611. 69
5,879,720. 49
11,164,695. 82
33,892,306.00
63,488,524.93
57,896,228.44
48.522.539. 78
34,577,870.85
32.905.243. 79
42,027,115.28
37,870,810.46
31.679.783.50
18,429,020.00
25,938,704.00
87,280,270.00
22, 409, 264. 00
23.753.149.80
21,618,019.24
29,954,665.36
33.461.314.25
26.557.411.25
22. 142.880.50
19.812. 130.50
876,417,334. 45
106
REPORT OF THE DIRECTOR OF THE MINT,
No. 20. — Coinage of the mints of the United States
RECAPITULATION— Continued.
Calendar years.
Minor coinage.
Five cents.
Three cents.
Two cents.
Brought forward .
1870 .
$4,543, 200. 00
240,300.00
28, 050.00
301,800.00
227,500.00
176, 900. 00
104, 850. 00
126,500.00
$748,620.00
40, 050.00
18, 120. 00
25,860.00
35, 190. 00
23,700.00
6, 840.00
4,860.00
$879,070.00
17,225.00
14,425.00
1,300.00
1871 .
1872 .
1873 .
1874 .
1875 .
1870 .
1877
117.50
1,455.00
997.75
3,618.75
573,830.00
1,148,471.05
563.697. 10
73,824,50
166.514.50
763. 182. 60
536,024. 15
794,068.05
812. 963. 60
841.717.50
554. 982. 10
668. 509. 75
270.656.60
498,994.20
442, 146. 00
70.00
1,236.00
748. 65
32,417.25
759.00
318.27
169. 26
143. 70
128. 70
238.83
1,232.49
646.83
1879 .
1880 .
1881 .
1S82 .
1883 .
1884 .
18S5 .
1880 .
1887 .
1888 . .
1889 .
1890 .
1891 .
1892 .
1893 .
1894 .
1895 . : .
1896 .
1897 .
1,021,436.75
626,604.35
1,301,451.55
1,362,799.75
1,324,010.65
1,574,028.95
1.400.336.25
1,070,249.20
1,491,363.80
1.930. 686.25
1,960,740.00
1898 .
1899 .
1900 .
1901 .
1902 .
1903 . .
1901 .
1905 .
1906 .
1907 . .
1QAO .
1909 .
1,134,308.85
579,526.30
1,508,407.65
1,977, 90S. 60
1,747,435.70
3,682,961.95
1,402,386.90
1910. . . .
1911 .
1912... .
1913.. .
. 1
1914... .
Total .
. i
41,591,634. 15
941,349. 48
912,020.00
OPERATIONS OF THE MINT SERVICE,
107
from their organization , by calendar years — Continued.
RECAPITULATION— Continued.
Minor coinage.
Cents.
Half tents.
$4,680,577.44
52,750.00
39,295.00
40, 420. 00
116,765.00
141,875.00
135,280.00
79,440.00
8,525.00
57.998.50
162,312.00
389,649.55
392, 115. 75
385,811.00
455,981-09
232.617.42
117,653.84
176,542.90
452,264.83
374.944. 14
488,693. 61
571.828.54
470.723.50
376.498. 32
466, 421.95
167.521.32
383,436.36
390.572.93
504, 663. 30
498,230. 79
563,000. 34
668,337.64
796.111.43
873, 767. 22
850. 944. 93
613. 280. 15
807, 191.63
960. 222. 55
1,081,386. 18
334, 429. 87
1,176,862.63
1.528,462. 18
1,178,757.87
829, 9.50. 60
984,373.52
805.684.32
$39,926. 11
26,817,172.11
Total coinage.
Gold.
Silver.
$729,047,572.50
23.168.787.50
21,032,685.00
21,812,645.00
67,022, 747.50
35,254,630.00
32,951,940.00
46.579.452.50
43,999,864.00
49,786,052.00
39,080,080.00
62,308,279.00
96,850, 890.00
65,887,685.00
29,241,990.00
23.991.756.50
27,773,012.50
28,945, 542.00
23,972,383.00
31,380,808.00
21,413,931.00
20.467. 182.50
29,222,005.00
34. 787. 222. 50
56,997,020.00
79,546, 160.00
59.616. 357. 50
47,053,060.00
76,028, 485.00
77.985. 757.50
111,344,220.00
99. 272. 942. 50
101,735, 187.50
47. 184. 852. 50
43.683.792.50
233. 402, 400. 00
49,638,400.00
78,793,045.00
131, 907, 490. 00
131.638.632. 50
88.776.907.50
104,723,735.00
56. 176. 822. 50
17.498.522.50
25.433.377.50
53.457.817.50
39,926.11
3,367,904, 128.00
$136,478,368.40
1.378.255.50
3,104,038.30
2.504.488.50
4, 024, 747. 60
6,851,776.70
15,347,893.00
24,503,307.50
28,393,045.50
28,518,850.00
27,. 569, 776.00
27.411.693. 75
27.940. 163. 75
27, 973, 132.00
29. 246. 968. 45
28.534.866. 15
28. 962. 176.20
32,086,709.90
35, 191,081.40
33,025,606.45
35.496.683. 15
39.202.908.20
27, 518, 856. 60
12,641,078.00
8,801,739.05
9,200,350.85
5,698,010.25
23,089, 899.05
18,487,297.30
23,034,033.45
26,061,519.90
36.345.321.45
30. 838. 460. 75
30,028, 167.20
19,874,440.00
15,695,609. 95
6,332, 180.90
10,651,087.85
13. 178.435. 75
12,391,777.25
8,087,852.50
3,744,408.35
6,457,301.55
7,340,995.00
3, 184, 228. 95
6,083,823.00
Minor.
$10,891,393.55
350, 325.00
99,890.00
369.3S0.00
379,455.00
342,475.00
246,970.00
210,800.00
8,525.00
58, 186. 50
165,003.00
391,395.95
428, 151. 75
960, 400.00
1,604, 770.41
796.483.78
191,622.04
343, 186. 10
1,215,686.26
912.200. 78
1,283,408. 49
1.384. 792. 14
1,312,441.00
961,480.42
1,134,931.70
438. 177.92
882,430.56
832.718.93
1,526, 100.05
1. 124.835.14
1,837,451.86
2,031,137.39
2, 120, 122. 08
2.445.796.17
2.251.281.18
1,683,529. 35
2,298,555.43
2,890,908.80
3,042, 126. 18
1,468, 738. 72
1,756, 388.93
3,036,929.83
3.1.56.726. 47
2,577,386. 30
4.667.335. 47
2,208,071.22
Total value.
$876,417,334.
24.927.368.
24,236,613.
24.686.513.
61,426,950.
42, 448, 881.
48,546,803.
71,293,560.
72,401,434.
78,363,088.
66,814,859.
90.111.368.
125, 219, 205.
94,821,217.
60,093,728.
53,323, 106.
56,926,810.
61,375,438.
60,379, 150-
65,318,615.
58, 194, 022.
61,054,882.
58,053,302.
48,389,780.
66,933,690.
89, 184, 688.
66, 196, 798.
70,975,677.
96,041,882.
102, 144,626.
139,243, 121.
137,649,401.
134.693,770.
79,660,815.
65.809.513.
250,781,539.
58,260,136.
92,335,041.
148, 128,051.93
145,499, 148.47
98,621,148.93
111,505,073. 18
65,790,850.52
27,416,903.80
33,284,941 92
61,749, 711.72
988,513,411 30 70,322,101.85 4,426,739,641.15
aS3gSS85SiaSSSgS2tJgSSS8SS83;fe88SS8SS88SSS88S;
MONETARY LEGISLATION.
[Public— No. 233 — 63d Congress.]
[S. 6039.]
An Act For the coinage of certain gold and silver coins in commemoration of the
Panama-Pacific International Exposition, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America
in Congress assembled, That the Secretary of the Treasury shall cause to be coined at
tne L nited States mint at San Francisco not exceeding three thousand gold coins of
me denomination of $50 each, ten thousand gold coins of the denomination of $2.50 each
twenty-five thousand gold coins of the denomination of $1 each, and not exceeding
two hundred thousand silver coins of the denomination of 50 cents each, all of le^al
weight and fineness; said coins to be struck in commemoration of the Panama-Pacific
HoSnSoIqal ^xP°slU?.n- The words, devices, and designs upon said coins shall be
ro STin tni Prescnbef Secretary of the Treasury, and all provisions of law
the coinage and legal-tender value of all other gold and silver coins shall be
aotP t fil318- 13sue^ lieder ail(l m accordance with the provisions of this
m the orta™f^n th?,18SVe of gold coins herein authorized shall be similar in shape
to the octagonal $50 gold pieces issued in California m eighteen hundred and fiftv-olur
and the entire issue of said $50, $2.50, and $1 coins herein authorized shall be sold and
Exnrsi^nb?onmaXeCartetary T^usarY to the Panama-Pacific International
^•riLdbvhVm PThYeeetPar’ UnduVUeS anci regulations and in amounts to be pre¬
scribed by him. The coinage shall be executed as soon as may be and the deliverv of
Sins herein mdhori^Kh diT tl?e daJ °f ihe opeuil]g of the exposition. Said 50-cent
u ms nerem authorized shall be issued only upon the reauest of the Ponoma
eh^ delivered to it by the ot he
JhS bfoffieSy “pel P “ International Edition
Sec. 2. That medals and diplomas, with appropriate devices emblems and inscrin-
to°be made to'the exh?bitold 11jianan^a;Pa|]ibc/uternational Exposition and’of the awards
at the UnSS Sto£ Sat pSSdS'S.5XB^,th'f ^™tnryof theTreaenry
tion Ct^p^ny euhject'tothe provisionaof setniou the^^^^^0
Secretary be^oine^fin^n a,utho,ri?ed “ay, in (he discretion of the
installed as a part of the exhibit of Ihe UnffidStote?SSS mac^nery * be
the purpose of maintaining the exhibit as an edneS^ ^ l ld e*P°?}ti0n and for
the coins so minted may be remelSd and renfinted l lYnS ^ bl ** a * 1 Umea
Win authorized not issued to and at the req uesto i kid s.llver+90ln®
Exposition, whether the same are coined ns i International
the mint in San Francisco, shall be remelted upon the^fficTd^^ exhibit or coined at
All provisions hereof in record to the coinage* fiTn^hino- ° a- c^03mf ®ai(* exposition,
coins from machinery installed as a part oflhesaid* ^exhibit^li^ ^ 50',ceat.silv®r
and issued under such regulations as the Secretary of tho Trl^11 be colned’ finished,
the Secretary of the Treasury shall ^use to S nZnLSt TTe*™Y “ay prescribe; and
such metal or composition of metals as he may p?es mbe^ to^e^tnfck «« 1““ m6u al (°f
m said mint exhibit, and all of said medals shall he Holt by “achmery
International Exposition Company upon navnient of thl Z t df l? 841(1 Panama-Pacific
the same, and all other souvenirs wlZhrTvbe^ineHl °f be niater,ial imposing
issued from any portion of the United ne<^’ s^amP.9c!> printed, or otherwise
said exposition company upon payment of /i'ern^le^t.?xblbltBJiad be delivered to
souvenirs, and said a.uvenfr meffl and otW T* of.the “aterial composing said
Panama-Pacific International Ex^siSon 0™™™™ u?8 ?ha11 be, delivered to said
disposition thereof as the Government exhibitQ^^riS. Tll^Sn?
OPERATIONS OF THE MINT SERVICE.
109
whether penal or otherwise, of the laws prohibiting the counterfeiting or imitating of
coins or securities of the United States shall apply to tho medals, diplomas, and souve¬
nirs provided for under sections two and three of this act.
Sec 4. That the Secretary of the Treasury is hereby authorized to obtain Bmtublo
designs for the coins and medals herein authorized, and the sum of $5,000, or so much
thereof as may be necessary, is hereby appropriated, out of any money in , 1,0l's'l,r^r
not otherwise appropriated, to defray the cost of said designs: Provided, that t no
Panama-Pacific International Exposition Company shall reimburse the treasury
Department for the amount thus expended.
tIio foUowing'tablo gives the weight and fineness of iho coins authorized in the above
act:
Denomination.
Fineness.
Pure gold
or silver.
Alloy.
Weight.
Amount
authorized.
Gold:
$50 pieces .
$2i pieces . ‘ .
$1 pieces .
Silver: 50-cent pieces .
Thou¬
sandths.
900
000
900
900
Grains.
1,101.00
58.05
23.22
173.01
Grains.
129.00
6.45
2. 58
19.29
Grains.
1,290.00
64.50
25. SO
192.90
Pieces.
3,000
10, 000
25, 000
200,000
MONETARY STATISTICS OF FOREIGN COUNTRIES.
The statistics of the production and coinage of the precious mot l
imports and exports of gold and silver, amount of bank and Got )
ment notes, both covered and uncovered, of the different forek
countries, published annually in the reports of this bureau are
obtained directly from the Governments of such countries by the
representatives of the United States accredited to them. 3
A list of the interrogatories covering the points on which infonna-
tion is sought from the Governments of foreign countries is sent yearly
to the United States ambassadors and ministers through the Depart¬
ment of State, and the replies in the form of reports are forwarded
directly to the Bureau of the Mint. Receipts of replies to the inter¬
rogatories have been limited or delayed in transmission, so that
those that appear in this report are only such as were leceived up to
the time arranged by Congress for the delivery of manuscript of
Government documents to the Public Printer. Section 9 oi the
sundry civil act, approved August 1, 1914, provides as follows:
herein f°r printing and binding shall not be used for any annual
■ y. i or , e accompanying documents unless the head of each executive department,
m i- * ra,n(1 °i the public service, or the Commissioners of the District of Columbia
CYin- °r«f 1 j rePort shall furnish copy to the Public Printer in the following manner.
HB e documents accompanying such annual reports on or before the 15th day o
NovomW„faC\year; C0P*es °f the annual reports on or before the 15th da\ o
and the annual'0*1 y^r; an(* comPlete revised proofs of the accompanying documen-
tively *ln* ^reports on the 10th and 20th days of November of each year, rcep
*s a c°py ^ie list of the interrogatories forwarded to
foreign Governments for the year 1914:
new coiitr^Sir0"11* 0*f°ld an(i silver coinage during the calendar year 19D,
yi life for other Gove*., *
during the cden!kr8y ear 19 1 4 ?eigh 1 of fine gold and silver used in the industrial a
material ^sw?etZSied?Jm?fift?ilTnr in,lhe f?mi of old Plate’ l'ewellT’, f^gdepo8'
tied at the mint for coinage?180 1U 1Ildua^riai arts to monetary use by
posited and melted atfthen?0** °i Urdted States gold coin and what amount v
6- What was thS“S duTS the year 1914? , , the „0ld **
silver produced from the P e?e,d m kilograms fine, and the value of the® Give
th« Product of the colonie^ftu °f tho country during the calendar year 191 •
7. What, aPproximatelv e,fountry> naming them separately. „ui0n in/!?®
country on December 31 in!/, the. stock of gold and silver coin and hull aQ(j «i
cmmlaliGn, separately. ’ ‘ ^*lve stock in public treasuries and ^ ^
gywMuTMd and hank »ot« outatmdih?.^ fflV
Sras? {-Uj^faKfisr4 by go,d coin “d ”
k S: Wo“ aoy ?a”"al < orr^;?I>ared "“h ‘he actual currency of ■ ,
hankie*? H so, plo^^i.the year 1914 affecting the coinage c
110 upies of the same
OPERATIONS OF THE MINT SERVICE.
Ill
If so, please forward
1 1 . Ih there a report published on the operations of the mint?
a copy, also a report of the department of mines.
}2- («) Wlmt wa* tho import and export of gold during tho calendar year 1914, the
value of coin, bullion, and ore, to bo given separately and by countries?
(b) W hat was the import and export of silver during the calendar year 1914, tho
the va uo of coin, bullion, and ore to be given separately and by countries?
, * lease examine the appended description of tho coinH of your country, bringing:
it down to date with corrections.
NORTH AMERICA.
CANADA.
Ansivers to interrogatories , 1914.
1. Gold and silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
Gold:
Sovereigns . .
14,891
135,403
29, 109
$72, 467. 05
1 , 354 , 030. 00
145,545.00
10 dollars .
5 dollars .
Total .
179,403
» 1,572, CM2. 05
Silver:
50 cents .
157,537
1,202,322
2,543,016
4, 190,609
78, 768.50
300, 580. 50
254,361.60
209,533. 45
25 cents .
10 cents .
5 cents .
Total .
8,094,144
843,244.05
* Of which amount $1,508,410.60 was now coinage and $3,625.30 was rocoinago of domestic coins.
2. (a and b)} 5 and 9. None.
(For replies to Nos. 3 and G, see appendix to this report.)
4. Gobi and silver in tho form of old plate, jewelry, and other old material returned
from use in the industrial arts to monetary use, deposited at the mint for coinage:
•
Classification.
FJno
ounces.
Value.
3, 206. 148
$07,517.16
972. 48
537.90
7. Approximate stock of gold and silver coin and bullion in tho country on Decem¬
ber 31, 1914:
Classification.
In public treas¬
uries.
In banks.
$94,305,294.44
320,344.71
220,721.80
‘$13,245,583
« Gold and silver coin.
8. Government and bank notes outstanding at the end of the year 1914:
Designation.
Notes
outstanding.
Gold
holdings.
Legal-tender
sliver holdings.
1102,305,231. 70
105,000,765.00
$94,305,294.44
268, 3454 , 986. 70
94,305, 294. 44
i notes oro issued against a silver reserve.
112
REPORT OF THE DIRECTOR OF THE MINT.
10. Laws passed during the year 1914: Finance act August 22, 1914; Dominion
notes act August 22, 1914, annexed hereto.
11. The Annual Report of the Deputy Master of the Mint, London, includes the
report of the deputy master, Ottawa.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports.
Im¬
ports —
bullion.
Exports.
Coin.
Bullion.
Coin.
(l)
Coin.
(’)
United Kingdom .
United States .
Other countries .
Total .
$2,607
117,697,107
1,110
$7
14,530,326
3,549
$3,020,345
15,432,736
44,830
$105,224
15, 132,495
6,951
$43
629,236
$1,135
1,147,240
2, 180
$12,125,124
5,406,506
885,104
117,700,824
11,533,882
18,497,911
15,244,670
629,279
1,150,555
18,416,734
1 Gold-bearing quartz, dust, nuggets, etc. * Metal contained in ore, concentrates, etc.
5 George V, Chapter 3.
An act to conserve the commercial and financial interests of Canada. (Assented to
Aug. 22, 1914.)
^^oreas, for the purposes set forth in an order in council of the 3d day of August,
1914, advances to the chartered banks in the form of an issue of Dominion notes were
authorized to be made against deposits by the banks with the minister of finance of
such securities as might be approved by the minister, such advances to be repayable
not later than the 1st day of May, 1915, with interest at a rate, to be approved by the
minister, not less than 5 per cent per annum; and whereas under the authority of an
order in council of the same date the chartered banks were authorized to make pay¬
ment in bank notes instead of gold or Dominion notes until further official announce¬
ment in that behalf , and were also authorized to issue from the date of the said order
in council, and until further announcement excess circulation to amounts not exceed¬
ing 15 per cent of the combined unimpaired capital and rest or reserve fund of the
respective banks, as stated in their respective statutory monthly returns to the min¬
ister for the month immediatelv preceding that in which the additional amount is
issued; and whereas under authority of an order in council dated the 10th day of
August, A. D. 1914, the redeeming in specie of Dominion notes was suspended; and
whereas it is expedient that the said orders in council be confirmed: Therefore His
Majesty, by and with the advice and consent of the Senate and House of Commons
of Canada, enacts as follows:
1 . This act may be cited as the finance act, 1914.
2. In this act, unless the context otherwise requires —
(a) 4 ‘Minister” means the minister of finance; (6) “excess circulation” means the
amount of the notes of a bank in circulation in excess of the amount of the notes of
that bank which may be issued pursuant to subsections 1 and 3 of section 61 of the
bank act.
3. The issue of Dominion notes, and all things done under the provisions of the
orders in council cited in the preamble, are hereby confirmed and shall be deemed
to have been duly authorized, and the said orders in council shall continue in force
until the 15th day Of September, 1914: Provided always, That the governor
council may at any time by a proclamation published in the Canada Gazette revoke
the said orders in council, or any of them, or any of the provisions in'the said orders
contained, but such revocation shall not affect the previous operation of any such
order or anything duly done thereunder, or affect any right, privilege, obligation, or
Lability acquired, accrued, accruing, or incurred thereunder
4. In case of war, invasion, riot, or insurrection, real or apprehended, and in case
SUSSS? ““ g0Ven,Or iD ““"cil “*• *
(a) Authorize the making of advances to the chartered banks and to the savings
banks to which the Quebec savings banks act, 1913, applies, bv the issue of Dominion
notes upon the pledge of securities, deposited with the minister, of such kind and
tinwAy ifc approved by the treasury board; such advances to be repayable
StrtJlS ma^ determine W1,h interest at a rate likewise determined
by the board of not less than 5 per cent per annum
OPERATIONS OF THE MINT SERVICE.
113
(6) Authorize the chartered banks to malm ,* i
such banks instead of in gold or Dominion notes but the notea issued by
of any chartered bank in circulation at anv Hmf’ .Eh ltotal T0^ of the notes
notes issuable under the provisions of the bank act and of cLh^m its
(c) Authorize the several chartered bank? to i™,! I™ 86 ^ °,f ^ subsection,
including the first day of Marchln any year to an? inchS S? and
next ensuing, or during any part of such period, to amounts not ^ceedinelKJ
cent of the combined unimpaired capital and rest or reserve fimd * h^Vg 15 .per
banks, as stated in their respective statutory monthly returns to the ministerC the
month immediately preceding that in which the additional amount iJwd
(<*) Suspend the redemption in gold of Dominion notes. '
(e) Authorize, in so far as the same may be within the legislative authority of the
Parliament of Canada, the postponement of the payment of all or any debts liabilities
and obligations however arising, to such extent, for such time, and upon knd subject
prodamad™8’ C0ndltl0n8’ llmitatlone> and provisions as may be specified in Jthe
,, Th? securities deposited with the minister under this section shall, as respects
the Domimon notes issued hereunder, be deemed to be the security required to be
field bv the minister under section 5 of the Dominion notes act, 1914
(3) A tender by a bank of its notes in payment of any of its liabilities, when a procla¬
mation made under clause (6) of the first subsection of this section is in force, shall
be a sufficient and valid tender, and the payment at such time by a bank of any of
its liabilities with its notes shall be as sufficient and valid a payment as if the same
had been made in specie or Dominion notes; provided in either case the total amount
of the notes of the bank in circulation at that time, including in case of tender the
amount tendered, does not exceed the amount of notes of the bank issuable under
the provisions of the bank act and of clause (c) of said subsection.
(4) Subsection 16 of section 61 of the bank act shall apply to the excess circulation
issued under the authority of this section, and interest shall accordingly be payable
thereon as if such excess circulation had been excess circulation issued under the
authority of said section 61.
(5) No proclamation issued under the provisions of this section shall continue in
force for more than 30 days after the beginning of the first session of Parliament held
after the issue thereof, unless it is approved by resolution passed by both Houses of
Parliament.
(6) Any proclamation made under the provisions of this section may be varied,
extended, or revoked by any subsequent proclamation, and separate proclamations
may be made dealing with separate subjects; but if any proclamation is varied,
extended, or revoked neither the previous operation thereof nor anything duly done
thereunder shall be affected thereby, nor shall any right, privilege, obligation, or
liability acquired, accrued, accruing, or incurred thereunder be affected by such
variation, extension, or revocation. . .
5. The governor in council may make regulations, not inconsistent with this act,
with regard to advances to the chartered banks, and to the said savings banks, the
terms and conditions affecting the deposit of securities, and all other matters neces¬
sary to give effect to the provisions of this act. i
6. The part of section 135 of the bank act immediately preceding clause (a) is
repealed and the following is substituted therefor:
“ 135. If the total amount of the notes of the banks in circulation
the amount authorized by this act and by the finance act of 1914, the bank shall
5 GEORGE V. CHAP. 4.
An act respecting Dominion notes. (Assented to 22d of August, 0f <3om_
His Majesty, by and with the advice and consent of the Senate and U
nions of Canada, enacts as follows:
SHORT TITLE.
1. This act may be cited as the Dominion notes act, 1914.
INTERPRETATION .
2. In this act, unless the context otherwise requires-— f.ina(ja issued and out-
fa) .“Dominion notes” means notes of the Dominion of Canada
Ktanding under the authority of this act. .-n jpr in Canada, and, (ii) gold
Kl(f) “Cold” means— (i) goid coins which are a legal Mint of the United
bullion in bars, each bar bearing either the stamp of the Jtoyai
0760°— 15 - 8
114
REPORT OF THE DIRECTOR OF THE MINT.
Kingdom or of the branch thereof in Canada, or of one of the branches thereof in
Australia, or of one of the coinage mints of the United States, or of the assay office of
the United States at New York, certifying its weight and fineness, at a valuation of
$1 in the currency of Canada for every 23.22 grains of fine gold content.
(c) “Minister” means the minister of finance.
ISSUE AND REDEMPTION.
3. Dominion notes may be issued and outstanding at any time to any amount, and
such notes shall be a legal tender in every part of Canada, except at the offices at
which they are redeemable.
4. Dominion notes shall be of such denominational values as the governor in council
determines, and shall be in such form, and signed by such persons, two in number,
as the minister directs.
2. By direction of the minister, there may be substituted for signatures in the proper
handwriting of one or both of the persons authorized to sign under the provisions of
the last preceding subsection, facsimiles thereof printed from engraving- Provided,
That if both of the .signatures are printed, then a distinguishing device and serial
number shall be printed from engraving on each note, after the notes have been
delivered by the printer and engraver to the minister and while the notes are in the
custody and control of the officers of the department of finance.
3- Dominion notes shall be redeemable in gold on presentation at branch offices
established, or at banks with which arrangements are made for the redemption thereof
as hereinafter provided.
SECURITY.
5. The minister of finance shall always hold as security for the redemption of
Dominion notes up to and including $50,000,000, issued and outstanding at any one
time, an amount equal to not less than 25 per cent of the amount of such notes
in gold.
,, “• 4s security for the redemption of Dominion notes issued in excess of $50,000,000
tne minister shall hold an amount in gold equal to such excess.
t ^ ca®® the amount held in accordance with the provisions of this act as security
tor the redemption ot Dominion notes is not sufficient to pay the Dominion notes
presented for redemption, or in case the amount so held is reduced below the amount
required by this act to be held, the governor in council may raise, by way of loan
temporary or otherwise, upon such form of security and upon such terms and con¬
ditions as the governor m council may approve, such sums of money as are necessary
to pay such notes or to provide the amount required to be held as security for the
redemption of Dominion notes issued and outstanding.
PROCEEDS AND EXPENSES.
7. The proceeds of Dominion notes so issued shall form part of the consolidated
revenue fund of Canada, and all expenses incurred or required to be paid in connection
with the engraving, printing, or preparation of such notes, or the signing Sue or
redemption thereof, shall be paid out of the said fund. o i:” ’
MONTHLY STATEMENT.
month, and ot the gold then held
AGENCIES FOR REDEMPTION.
and Calgary for the redemption of Dominion notes^’or nm- ^’fkarlottetown Regina,
chartered bank at any of tie said places for AdlSon *
ree^e^^^ to be in. charge of .the
general, and shall be an agent for the issue andrSe^
OPERATIONS OF THE MINT SERVICE.
115
NOTES OF LATE PROVINCE OF CANADA.
10. Provincial notes under the act of the late Province of Canada, passed in the
session held in the twenty-ninth and thirtieth years of Her late Majesty Queen Vic¬
toria's reign, chapter 10, entitled “ An act to provide for the issue of provincial notes,”
shall be held to be notes of the Dominion of Canada, and shall be redeemable in gold
on presentation at Toronto, Montreal, Halifax, or St. John, according as the same
are respectively made payable, and shall be legal tender except at the offices at
which they are respectively made payable.
11. Chapter 27 of the Revised Statutes, “An act respecting Dominion notes, is
repealed.
NOVA SCOTIA.
Answers to interrogatories , 1914 •
I, 2 (a and 6). There is no mint in this consular district. The Province of Nova
Scotia is an integral part of the Dominion of Canada.
3, 4, 5, 9, and 10. None. , , , . _ . .
7, 8, and 12 ( a and b). This information is given only for the entire Dominion.
II. A copy of the report of department of mines is forwarded herewith.
MEXICO.
American Consulate,
Vera Cruz , Mexico , December 81, 1914-
Annual report on the commerce of the port of Vera Cruz, Mexico, for the calendar
year 1912, as compared with that of the year 1911, compiled from Government records
obtained from the customs authorities here:
Exports of gold and silver.
Country.
1911
1912
Gold.
Silver
(bars).
Gold.
Silver
(bars).
$8,420,476
10,071
218,744
791, 117
$9,344,775
84,090
406, 759
2,264,317
$13,042,344
23,455
111,853
395, 107
$12,683,957
166,590
240,422
1,666,235
9,446,408
12,099,941
13,572,759
14,757,204
In the total amount of mineral products exported from Vera, JsJS
shows a sain over 1911. This gain is represented principally in the case of the United
States "Germany and France show a decrease, while the United Kingdom and the
othef countries have gained only under the heading of sundry mineral products.
Thlgaiu of the United States is chiefly under items of gold and silver, as these precious
metals continued to be sent via Vera Cruz, even though the risk of sending them by
inroad to the United States had decreased in 1912. In the instance of the less
Sable mineral products the apparent decrease is due in part to their having been
sent by railroad to the United States.
^ ***** *
Wm. W. Canada,
American Consul.
116 REPORT OF THE DIRECTOR OF THE MINT.
Exports of gold and silver from Mexico to the United Stales in the years 1911 and 1912.
[l^rom Daily Consular and Trade Reports for August, 1912,]
Consular districts.
Cold.
Silver.
1911
1912
1911
1912
Durango 1 and Torreon. . .
Hermosilio (gold and silver ores).
*436,294
418
57,906
20,548
*414,800
20,834
49,787
862
*1,674,210
*2,548,394
tiuaymas:
Bullion .
Qra •*••• ■•■•••■•••••••••■••»•«■■«
79,330
5,811
4,446,882
4,854,455
98,458
29
3,432,460
6,858,639
.
Monterey: .
Fino bars .
U1U1UU3 115(1(1 .
gagjgg^sffiuga
of both silver and copper and the extension of Y7e /I ph^10Jl[lenaL ncf,®ase in the value
of the best mineral sections of the dSSct ThM ™ brancJ} ^ijroads into some
cover the cost of extraction and transnorbitlnn Sh,.Q0i»Wo^k 'Yhicb formerly did not
from the extinction of hlfK ProAtable «*. Rurally, tfie profits
IMPORTS AND EXPORTS, FISCAL YEAR 1911-12.
[From Bulletin of the Pan American Union, September, 1913.]
iPrinciEal items llncle.r thft head “Gold, silver, and platinum ” were-
FnxnoJ nnA mun' $305,831, of which $126,515 was from Germany, $101,041 from
I ranee, and $17,131 from the United States; and foreipn gold and silver coin H472 872
of which $467,646 was from the United States. K silver com, $472,873,
*oa« ?Kote‘7'Tu? P"“ciPal ffold exports in 1911-12 were: Gold ore, 1,419 kilos worth
$946,258, of which 1,417 kilos went to the United Stales; gold dust and bars ’ 25 229
f^81’]71’ of Yhich 31,647 kilos went to the United States 241 1 kilos
to the United Kingdom, and 714 kilos to Belgium. ’ lcllos
J h“ principal silver exports during the same period were: Ore 194 804 hi™
$3,440,621 ot which 193,903 kilos went to the United States?^ Silver i u7m
kilos worth $20,165 225, of which 812,202 kilos went to the United States and 2$
kilos to the United Kingdom; silver combined with lead 694 263 til™ ™ f£«ia
451,185, of which 408,464 kilos went to the United Sta es i<Jf 790 kiloi n?\u
Kingdom, and 78,842 kilos to Belgium; silver combined with cornier
worth $8,147,051, of which 427,297 kilos went to the United States nnd ’in 53,132 ^1°
txi the United Kingdom; silver cyanides, 4,707 kilos worth *80 era the remainder
kilos went to the United States and the reminder to GenSnv «;i°f whl<I'hk4-I391
7,189 kilos worth $129,679, all to the United States. ° "“any, silver sulphides,
WEST INDIES.
CUBA.
Leoation of the United States of Amehica,
TnE Directou of the Mint, ITabana, May 17, 1915.
Washington, D. C.
March 20* lP9U15,Ufnreg°arda toSt ££in CulTa haveWh®1*4 °f State’ dated
during the year 1914 the Cuban Government did n nV th° 1Jf,,nor <0 reI)ort that
law for the coinage of a Cuban currency was imsseH L i ‘y Rol<i a,,d flilver> hut a
ginning of this year this law has gone into effected year’ and ,hat at the bfi*
issued and circulated. enect ail<1 new currency is now beinp
The secretary of hacienda (treasurv Wnrlaib • i ,
and exportation of currency for the vear 1014 6 <>S(( S^tiatics for the importation
I am, sir, your obedient servant,
William E. Gonzales,
American Minister .
OPERATIONS OF THE MINT SERVICE. 117
Comparative statement of the importation and exportation of coin from the Republic of
Cuba during the year 1914 .
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
United States .
$424,000
$2,382,941
287,974
$255,000
16,000
Spain .
$776,348
France .
100,016
Canary Islands .
1,000
65,000
Total .
524,016
2,671,915
271,000
841,348
Note.— There was no gold ore exported during 1914.
Leopoldi Canero,
Secretary of the Treasury.
Paulo Tone,
Section Chief.
NEW CUBAN COINS.
[From Bulletin of the Pan American Union, April, 1915.]
A complete set of the new Cuban coins, consisting of a $5 gold piece, a silver dollar,
fractional silver coins of 40, 20, and 10 cents, and nickel coins of 5, 2, and 1 cent de¬
nominations, are valued at $6.78.
The chamber of commerce of Santiago has petitioned the Government to pass a law
prohibiting the exportation of national gold coin, and to make the national silver
money a legal tender at all customhouses in the payment of taxes on a parity with gold .
Act , approved October 26, 1914, for the coinage of Cuban currency .
Article I. The coinage of national money is hereby directed, the exclusive right
thereof to rest with the State. Its basis shall be gold and the unit shall be the peso
weighing 1.6718 grammes or 1.5046 fine grams.
Art. II. Money shall be coined of gold, silver, and nickel of the following denomina¬
tions:
(а) Gold, pieces of $20, $10, $5, $4, $2, and $1.
(б) Silver, pieces of one peso, two-fifths of a peso, one-fifth of a peso, and one-tenth
of a peso.
(c) Nickel, pieces of five hundredth parts of a peso, of two-hundredth parts of a
peso, and of one-hundredth part of a peso.
Art. III. The gold coinage shall be unlimited. That of silver shall not exceed
2,000,000 pesos. That of nickel shall be determined by the National Executive.
’ Art. IV. The standards of fineness shall be:
(a) For gold coin: of pure metal, with a tolerance of rfa both as to weight
aQ(6) For^flver coin: of pure metal, with tolerances of rfa for fineness and
8 for weight.
(c) Nickef coins: 250 parts nickel and 750 parts copper. .
\rt. V. Gold coin shall have unlimited legal tender. Silver com shall be receiv¬
able iii the proportion of 8 per cent of the amount tendered for payment and full legal
tender for obligations not exceeding 10 pesos. The subsidiary nickel corns shall be
legal tender for any amount not exceeding one peso.
Art. VI. Silver coins of 100 cents shall weigh 26 and 7295 grammes; those of
two-fifth of a peso shall weigh 10 grammes ; those of one-fifth of a peso , 5 grammes ; and
those of one-tenth of a peso grammes. Nickel coins of rfo of a peso shall weigh
5 grammes; and those of lj*. of a peso, 2| and 3§ grammes, respectively.
Art VII Every coin shall be stamped with its value, weight, and fineness, year
of coinage, and the inscription “Repdhlica de Cuba,” and the gold coins shall bear,
besides the effigy of Marti, and on the reverse the escutcheon of die Republic Silver
and nickel coins shall have stamped on the reverse the escutcheon of the Republic
nnH nn tho obverse a five-pointea star.
Gold coins of 5 10, and 20 pesos shall be of the same shape weight, and value as
the^corresponding coins of theVnited States of America, ancf those of 4, 2, and 1 peso
shall be proportionate to the above in size and weight.
118
REPORT OF THE DIRECTOR OF THE MINT.
Art . VIII. Future coinages shall be subject to the provisions of this act in respect
or weight, fineness, and value.
Art. IX. Worn-out coins which are turned into the treasury shall be withdrawn
from circulation and shall be melted for the purpose of recoinage.
Art X. The national currency and that of the United States of America shall be
tne only legal tender for the payment of obligations contracted while this law is in
iorce ; but payment in foreign coins shall be permitted when specifically agreed to
by the contracting parties. J ^
Art. XI. The Chief Executive is authorized to contract, by means of competitive
proposals, with banking institutions domiciled in the Republic for the coinage of the
currency under this act. The institution to which the contract is awarded shall bear
for its own account all expenses incidental to the purchase of metals, the transporta¬
tion and delivery thereof to the United States Mint, the cost of coinage, and trans¬
portation and delivery of the coins to the general treasury of the Republic.
r RT«* The Executive shall reimburse to the contractor the amounts due in the
following manner:
(а) Within 10 days following the delivery of each lot of coins, the value of the metal
employed in the comage thereof.
(б) Within 30 days following the presentation of the accounts which will accom¬
pany the respective delivery of coins, the amount of other expenses, including the
stipulated commission. Bills for the cost of coinage, insurance, transportation
freight, and other necessary expenses incurred up to tlm time of delivery to the general
treasury shall be supported by proper vouchers. The amounts so due shall be paid
by the general treasury out of the corned money delivered.
Art. XIII. The Chief Executive shall conduct the necessary negotiations with
the Government of the United States of America for the coinage of the national monev
by the United States Mint, " J
Art. XIV. The cost of coinage and other expenses incidental to this service shall
be borne by the treasury of the Republic and shall be paid out of the profits obtained
from the coinage.
Art. XV. The corporation with which the State contracts the coinage of the national
money shall be authorized—
(а) To negotiate and carry out all acts and contracts connected with the coinage
of money as authorized by this act.
(б) To purchase metals for the coinage of the money.
(c) To contract the cost of coinage and delivery of the money to the national treasury ,
including expenses of transportation, insurance, and such others as may be necessary'!
Art. XVI. The Executive shall allow a commission not to exceed one-half of 1
per cent of the face value of the money coined, including therein all expenses of
subastas 1 and all other expenses incurred down to the time of delivery of the money.
Art. XVII. Foreign money now in circulation, except that of the United States,
shall cease to be legal tender; but it may circulate as merchandise, without preju¬
dice to contracts in which payment therein is stipulated, taking into account the fact
that in contractual acts the will of the contracting parties is the basis thereof
Art. XVIII. The National Executive is hereby authorized to prevent the exporta¬
tion of national metal money whenever he deems such action appropriate.
Art. XIX. All penal provisions concerning money shall be applicable to the cur¬
rency created by this act.
The new Cuban coins, consisting of $20, $10, $5, $4, $2, and $1 gold pieces, $1 and frac¬
tions of a dollar in silver pieces, are to be placed in circulation, according to press
reports, during the latter part of March, 1915. The first shipment of this monev from
the United States, where it was minted, will amount to $1,200 000
Cuba is without a national currency, paper money, gold,’ silver, or copper, of any
kind.
Debts are payable in Cuba in the kind of money stipulated in the obligation and
usually call for United States currency, Spanish or French gold, or Spanish silver.
United States national-bank notes are accepted, but not the notes of French or Span-
ish banks. J
The bonds of the Cuban Government are payable in American gold, and likewise
all taxes, duties, and postage are collected, and the accounts of the treasury" and post
office department are kept in United States money.
In the Provinces of Santiago and Camaguey, United States money is used almost
exclusively.
In the provinces i of Santa Clara Matanzas, Habana, and Pinar del Rio custom
dictates the use of the different kinds of money in a general way as follows:
1 Expenses of advertising for bids, etc.
OPERATIONS OF THE MINT SERVICE. 119
Car fare, sales of railroad tickets, freight charges, real estate, tobacco in bulk, and
cigar-makera’ wages are settled in American money.
Retail prices of articles selling for less than $10, including cigars and carriage hire,
are quoted in Spanish silver.
All sugar transactions, and other transactions of importance, including the larger
part of the loans made by the banks, are made in Spanish or French gold.
For the purpose of domestic exchange the “luis” (Napoleon) and “centen”
(Alphonso) are arbitrarily called $4.24 and $5.30 Spanish gold, respectively. As
the gold value of the former is $3,859, and that of the latter is $4.8238 American gold,
the parity of an American dollar is approximately $1.09872 in Cuban Spanish gold.
This rate varies in the market from $1.08 to $1.10f.
The Spanish silver coins in circulation are the peso, doble-peseta, peseta, and real,
valued at $1, 40 cents, 20 cents, and 10 cents, respectively. There are also 1 and 2 cent
Spanish copper pieces in current use. The reales are quoted in quantities of $5 or
more at from 3 per cent to 5 per cent premium and the copper pieces from 3 per cent
to 10 per cent premium. Spanish silver is quoted in Spanish gold and fluctuates
widely. During the past three years the rate has gradually approached 100, the
present price being 99J, or approximately 6| per cent discount from the arbitrary
rate of 106 Spanish gold.
All denominations and kinds of United States currency are in circulation.
In addition to the Alphonso and Napoleon, but not so generally used, also gold
coins valued at $17, $4.25, $2.12£, and $2.12, known as “onzas,” “escudos,” “medio-
escudos,” and “medio-luises,” respectively, are in circulation.
Demonetization of all foreign coins.
Legation of the United States of America.
No. 272.] Habana, September 20, 1915.
The honorable the Secretary of State, Washington.
Sir: I have the honor to report that by decree No. 1224, of Septem¬
ber 13, 1915, the President of Cuba prescribed the demonetization of
all foreign coins heretofore in circulation in the Republic, excepting
currency of the United States. The decree goes into effect December
1 1915, after which date all obligations are payable in the new Cuban
currency or in currency of the United States, the values to be the
same. It is decreed that on that date all Spanish currency, both
<mld and silver, and French gold shall cease circulating as money, and
fmportation of the same is prohibited. Furthermore, contracts
made prior to December 1, payable in Spanish gold or French gold,
shall thereafter be payable in either Cuban or American currency on
a basis of $5 for the Spanish gold centen (25 pesetas) and $4 for
the French louis (20 francs).
I have the honor to be, sir, your obedient servant,
Gustave Scholle.
Legation of the United States of America,
No. 273.] Habana, September 24, 1915.
The honorable the Secretary of State, Washington.
Sir: Supplementing my dispatch No. 272, of September 20, m
regard to the presidential decree demonetizing alt foreign coins
heretofore in circulation in the Republic, excepting currency of the
United States, I have the honor to report that on September 22,
ibpre was nublished another presidential decree in which the exchange
fatoeTspanSi gold and french gold was fixed at 19.30 cents or
Deseta or franc making the centen (Spanish 25 pesetas gold)
*4?82 and the louis (20 francs gold) *3.86, which are the same values
120
REPORT OF THE DIRECTOR OF THE MINT.
as fixed in the proclamation of the President of the United States
on December 28, 1S98.
In this decree the Spanish and French gold coins are allowed to
be used in contracts between private persons as “ merchandise ” and
not as legal tender.
It is apparent that this decree supersedes the previous one men¬
tioned in my last dispatch on the subject, and is more in conformity
with the currency act passed by Congress in October, 1914. (See
dispatch No. 171, of October 26. 1914.)
I have the honor to be, sir, your obedient servant,
Gustave Scholle.
CENTRAL AMERICA.
COSTA RICA.
Ansurers to inierrogatorits . 1914.
1. Silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
Co tones.
United
States cur¬
rency.
50 centimos .
202.213
150,000
507.212
101,1(6.50
15,000.00
25,360. 60
$47,014.52
6,975.00
11,792.80
10 centimos. .
5 centimos .
Total .
S39.425
141, 467. 10
65.7S2.32
2 (a), 4. 5, 6. 9. and 10. None.
2 (b). The above silver coinage was executed at the mint of the United States at
Philadelphia. Pa., in August and September, 1914.
(For reply to No. 3 see appendix to this report.)
7. Approximate stock of gold and silver coin in the country on December 31. 1914:
Classification.
In public
treasuries.
Value in
United
States cur¬
rency.
In banks.
V alue in
United
States cur¬
rency.
In circula¬
tion.
Value in
United
States cur¬
rency.
Gold coin .
Colon**.
1 236, 000. 00
778.000.00
$109,740.00
\$61, 770. 00
Colon**.
2,56«. 454.39
63.263.24
41,194, 331.29
29.417.41
Colon**.
*500,000100
239, 76U 66
$232,500.00
’ 111,4^71
Silver coin .
Total .
1,014.000.00
471,510.00
2,631,717.63
1,223,74$. 70
739, TOO. 66
343,968.71
\ toetades foreign gold coin ^especially American) at legal rate of exchange, 1.15 per cent.
8. Government and bank notes outstanding at the end of the year 1914-
•
Designation.
Notes out¬
standing.
V alue in
United
States cur¬
rency.
Gold
holdings.
Value in
United
Stax&s cur¬
rency.
Legal-
tender
silver
holdings.
Value in
United
States cur¬
rency.
Government .
Banks ol issue .
Colon**.
1.014,000
* 5, 460. 49)
*471,510
2. 539, 123
Colon**.
236,000.00
2.569.433.64
*109, 740.00
Coion**.
778,000
*361,73X00
1.194,321.64
Total .
6,474,490
1 3,010,633
2, S04, 433.64
1,304,061.64
TTSjOOO
361,770.00
are puaran'.eed by CrOT^rnm<^t ba^'. * J hf “55°. i™*"®**0®*! notes
supposed to cover their noteeln circuiatiom Batt‘ 0<MBarai“ *> be“S liquidated and U»« assets of same are
OPERATIONS OF THE MINT SERVICE.
121
10. Law passed during 1914:
Alfredo Gonzalez, constitutional President of the Republic of Costa Rica, in the
exercise of authorization conferred by the decree of the legislature of August 8, 1914,
decrees:
With the name of “Banco Internacional de Costa Rica” (“International Bank of
Costa Rica”), and with establishment in the city of San Jose, an institution of credit
emission of the State is hereby created, which shall he administered by individuals
under the immediate supervision of executive authority.
Its object and constitution are as follows:
Article 1. From this date and until new provisions by executive authority the
issue banks established in the Republic shall remain privileged except as to the
exchange of their notes for gold.
Art. 2. The notes of said banks shall serve to pay all their obligations contracted
in gold colones.
Art. 3. For the time that this decree is in force, articles 33, 34, and 40, of the bank
law in force shall remain suspended in so far as they do not harmonize with what is
herein ordered.
Given in San Jose, the 18th day of September, 1914.
(Signed) Alfredo Gonzalez.
The Secretary of State for the Treasury and Commerce:
(Signed) Marcello Guardia.
12 (a and b). Imports and exports of gold and silver dining the calendar year 1914:
Gold.
Silver.
Country.
Exports.
Imports.
Exports.
Coin.
Bullion.
Ore.
Coin.
Bullion.
United States of America .
Colones.
311,750
Colones.
1,076, 555
5,375
Colones.
467, 551
Colones.
i 141,467.35
Colones.
361,484
Total .
311, 750
1,081,930
($503,097. 45)
467,551
($217,411.21)
141,467.35
($65,782.32)
361,484
($168,090)
($144,963.75)
• United States Mint at Philadelphia, Pa.
HONDURAS.
Answers to interrogatories, 1914-
and 10. None.
3 8(3”n» ol th£ Eid'.rrried on in Honduras
country on December 31, 1914:
Classification.
Gold coin..
Silver coin .
In banks.
1 $4,571
2 936,304
i United States currency.
TTCtam on gold during SL.'Sdf
con,; l0W<k 1>remium’ 175 perce“‘:
premium, 156^ per cent.
122
REPORT OF THE DIRECTOR OF THE MINT.
11. Mint closed during 1914. No department of mines or reports bearing thereon
12 (a and 6). Exports of gold and silver during the calendar year 1914: Gold, $7,910;
silver, $7,323.*
All gold and silver exported from this country was sent to the United States. Aside
from figures given above, practically all gold and silver was shipped to New York in
cyamde solution, tor this reason it is impossible to separate the two metals in this
report.
One hundred and thirty-eight pounds of gold and silver bearing ores were shipped
to the United States, the value of which wa3 22,880 pesos, or about $9,152 United
States currency; 156,686 pounds of gold and silver in cyanide solution were shipped
to the United States, the value of which was 2,155,267.60 pesos, or about $862,107
United States currency. ’
Gold and silver exports .
[From Bulletin of the Pan American Union, March, 1914.]
Fiscal year 1911-12.
Value.
Gold ore .
Silver pesos.
49,939.44
2,049,527.83
20,823.85
14,696.25
323,595.00
Gold and silver ore . .
Silver ore . .
GUATEMALA.
Answers to interrogatories, 1914.
o’ j)' m’ 11, and 12 (a and b). None.
littiVf • silver used in industrial arts during the calendar year 1914- Verv
little foreign gold com and domestic silver coin. y
7. Approximate stock of gold and silver coin in the country on December 31, 1914:
Classification.
In banks.
Gold coin .
$56,805.78
234,177.62
8. Government and bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Government .
$6,000,000
125,524,093
Total . .
- — . . . . . . . .
131,524,093
9. Premium on gold during 1914: Highest nreminm a q
1.92 per cent; average premium, 2.5 per cent ’ Per cen^» lowest
The actual currency of the country is inconvertible paper.
1 United States currency.
premium,
OPERATIONS OF THE MINT SERVICE.
123
NICARAGUA.
Ansver* to intenogatoriu , 1914.
1, 2 (a). 4, 6, and 11. None. Nicaragua has no mint
2 b). Coinage executed at ioreign mints for Nicaragua during 1914:
Venrjmmaikm.
Pieces.
Yah*.
Silver:
25 centavos .
100.000
220.000
525,000
22.000
10 centavos .
Total .
32). 000
1 300 flQO
47.000
13,000
15,000
Copper: 1 centavo .
Nickel: 5 centavos .
300.000
3. Gold and silver used in industrial arts: No estimate can be obtained, but safe to
say very little.
5. There are no statistics with reference to the importation of United States gold
coin; have been informed that none has been brought in except small amounts by
travelers and the sums which have been used by the Marine Corps.
7. Approximate stock of silver coin in the country on December 31, 1914:
Classification public
* treasuries.
In banks.
In circu¬
lation.
Gold coin .
None.
&ne.
(')
Kane.
(•)
**113,000
(*)
None.
(>)
**171,000
0)
Gold bullion. .
Silver coin. .
Silver bullion. .
1 No statistics.
2 The National Bank: of Nicaragua (Inc.) is the bank of issue for the Republic. The 5113,000 referred to
above consists of unissued silver (cordobaj coins held by the bank, and the $171,000 consists of coins placed
in circulation by the bank.
8. The National Bank of Nicaragua (Inc.) is the bank of issue for the Republic.
There are no other banks of issue. Notes outstanding December 31. 1914, approxi¬
mately 1,720,000 cordobas. These were not covered b\ gold coin or bullion or legal-
tender silver coin within the Republic. The notes are issued on a gold exchange
standard basis, the exchange fund being provided for by the monetary law of March
20, 1912, copy of which has heretofore been filed with the Treasury Department. In
addition to the above there is also estimated to be outstanding 2,000.000 pesos of old
national bills which have not yet been redeemed by the National Bank of Nicaragua
(Inc.).
9. By the sale of drafts on the exchange fund in the United States the cordoba was
maintained on a parity with gold until about October 1 , 1914, when the* sale of drafts
was suspended by reason of the unsettled conditions due to the European war and the
consequent very "large falling off in the revenues of Nicaragua. Gold exchange went
to a premium in October of 103; November, 107; and December, 110.
Currency of the country. — In addition to notes of denominations of (C)$100, (C)$50,
(C)$20, (C)$10, (C)$5, (C)$2, and (C)$l, notes of smaller denominations— (C)$0.50,
(C)$0.25, and (C;$0.10— have been provided for and will be issued early in 1915.
10. Laws rxiMtd during 1914— u Legislative decree of November, 1914, contract
with the bankers, Brown Brothers & Co. and J. & W . Seligman & Co., of New ^ ork,
and the National Bank of Nicaragua.” Issue of (cordobas) $1,500,0Q0 by the national
bank and revenues and securities which guarantee that issue. Five hundred thousand
dollars were issued to the Government, but none of the $1,000,000 provided lor agri¬
culturists was issued. , , ,
12 fa and b) Imports and exports of gold and silver during the calendar year 1914:
Coined silver bank notes, etc., from United States: Silver and copper coins for the
national bank, $50,000; bank notes, $26,000; total, $76,000.
124
REPORT OF THE DIRECTOR OF THE MINT
Exportations, 1914 •
PACIFIC COAST.
Classification.
Kilograms.
Value in
United States
currency.
Gold bars .
76
$31,076.21
363,992.31
Concentrated gold and gold bullion and dust .
700
Total .
776
395,068.52
Coined silver .
1,425
514
21,783.90
50,522.74
Concentrated silver .
Total . 1..
1,939
72,306.64
ATLANTIC COAST.
Gold bars .
533
610
$225,268.61
270,687. 70
Concentrated gold and gold bullion and dust .
Total . .
1,143
495,956.31
Coined silver .
1,310
122
19,530.00
2,174.50
Silver bars .
Total .
1,432
21,704.50
SALVADOR.
Answers to interrogatories, 1914-
1. Amount of silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
Pesos .
2, S00, 000
3,000,000
1,500,000
2,000,000
Pesos.
2,800,000
750,000
150,000
100,000
25 cents .
10 cents .
5 cents .
Total .
9, 300,000
3,800,000
2 (a), 4, 5, and 10. None.
2 (b). Coinage executed at foreign mints for Government of Salvador during 1914:
Location of mint.
Value.
In England .
«7nn ooo
In United States (Philadelphia mint) .
v < UU, UUW
9 TOO OOO
• .
^ / uu , uuu
Total .
o jnn nOO
O, 4UU, WU
3 Fine gold and fine silver used in industrial arts. No official data available.
Only small quantities of gold coins obtained from travelers.
(For answer to No. 6, see appendix to this report.)
7. Approximate stock of gold and silver coin in the country on December 31, 1914:
Classification.
In public
treasuries.
In banks.
Gold coin .
$116,030.75
$2,058.39
3,664,937.70
Total .
553,902.73
tmc\ an in
oo9, 933. 48
3, 666, 996. 09
OPERATIONS OF THE MINT SERVICE.
125
8. Bank notes outstanding at the end of the year 1914: Notes of banks of issue,
$6,062,601. There are no Government notes.
9. Premium on gold during 1914: Highest premium, 230 per cent; lowest premium,
145 per cent; average premium, 187iper cent.
11. Report on operations of mint: We have no mint.
12. Imports and exports of gold and silver coin during 1914:
Country.
Gold.
Silver.
Imports.
Imports.
Exports.
/ $75.00
\ 37, 205. 00
} $2,700,000.00
700,000.00
21,682.90
$2,344.00
37,280.00
3,421,682.90
2,344.00
SOUTH AMERICA.
ARGENTINA.
Answers to interrogatories , 1914.
1. There was no gold or silver coinage during 1914. Nickel coinage was as follows:
Denomination.
5 centavos 1 .
10 centavos 1 .
20 centavos 1 .
Total....
Pieces.
1,097,115
750,733
526,770
Value.
$54,855.75
75,073.30
105,354.00
2,374,618 235,283.05
O ^Tt L^1 believed that, although the people of Argentina buy impor-
taut amountsof gold and sUver feveiry and tablewares, the most of these are imported.
4. No data available. . nuantitv of gold obtained in the small ex-
6. It is impossible to gi^ e , • v e jgt all through the ranges of the Andes,
ploitations of auriferous washes ^“^h OTMtaU property. Besides the gold which
which are, according to the mF1^ riferouB quartz being of such an elevated value
‘TaiSSAX k notes outstanding at the end of the year 1914:
Xotee outstand- Gold holdings.
Designation. ing.
Government .
Banks of issue .
$788,911,355.50
250,000.00
$224,405, 298,027
250.000
221,405,548.027
^^GolT^relari^to paper money, has a fixed value, which is
126
REPORT OF THE DIRECTOR OF THE MINT.
12 (a). Imports and exports of gold coin and bullion:
Country.
Imports.
Germany .
Brazil . . . .
Netherlands .
Paraguay .
United Kingdom.
Uruguay .
France .
Total.
Coin.
$345,800
12,633,913
45,040
65,520
3,735, 800
1,134,313
17,960,386
Exports.
Coin.
$3,607,680
19,422,52 5
1,474,875
6, 789,569
31,294,649
Bullion.
$4,284
4,284
12 (b). During the year 1914 there was no importation or exportation of silver coin.
PROHIBITION OF GOLD EXPORTS.
,, disappearance of the gold stocks, which constitute the principal guarantee of
the stability of our banking institutions, encharged with the regularization of our
economic existence, might come to cause harm to the proper balance between values
and tlie currency, with grave detriment to consumption and to the national industry.
^ jv?? growing out of our foreign trade and financial relations could be ac-
quitted by the usual resources of international credit, up to the time of the outbreak
of the armed struggle, which has interrupted the normal course of our interchanges
with the nations beyond the seas. In virtue of this consideration, and it being a pre¬
cautionary measure that could be put in force with the discretion required bv the
circumstances, the Government applied to Congress for the law, passed the 12th of
August, under number 9483, which provides for the total or partial prohibition of
gold exports, during such time as a state of war shall subsist between the powers
In the regulations of this law there is an exception granted in favor of the amounts
of gold com that outward-bound travelers may take with them, provided that the
amount does not assume the character of an illicit exportation. Travelers who might
find themselves m the case would be granted by the customs authorities a permit for
the export of the con-espondmg amount . The permit would not be required of trav¬
elers earning with them less than 500 pesos gold. The masters or pursers of shipping
could obtain permits for the amount of the maritime freight as borne out bv bills of
lading or freight contracts. J
The minister of finance would see to it that the Banco de la Nacion Argentina
should facilitate the payment in gold of maritime freights during the maintemmeetf
the prohibition of gold exports. 1 he violation of these provisions would produce the
forfeit of the sum, as provided for in the customs regulations. ^
SUSPENSION OP DELIVERY OF GOLP BY THE CAJA DE CONVERSION.
By law No. 9481, promulgated August 9, the effects of law No 3871 are declared
suspended for 30 days, in respeet of (he obligation of ihe caja de conversion lodefcr
fZ?r30TrorP.aoP^ry' G°Vemmm ^ <° P-loS till
In virtue of this law, in the latter part of August the effeeto i„
SXg&SS01" tCTm 01 30 days- reasons <ha t had^Jite p^e
Go^rnme^inea^re.^fh^fiovernmenif staUuMhat'it'ws^rnit^orLfvf
foresee the problems the country would have to face as a coupon enee nf }{np£f5al)le t0
conflict but also the incidences of our relations with foreigi Sete^and^S
account it would be vise to arm the Executive with nnwomM /ldfi and on tins
against harmful withdrawals. Similar measures h ui been l°t d ond our gold stock
nations to defend their respective gold stocks hence bv folloSin^ by |-he
nature we would not do more than place ourselves on a mrit n? pohcy of tlu3
On September 30 the law No. 9506 w^ i P y t,hera'
when the periods fixed by law No 9-181 should * promulgated, providing that
authorized to continue the President remained
respLt ome°oblS2on of th- ' ^ law 3871, in
for paper currency, should be maiitidned ^Tfmthe^notS ^ C°in exchange
OPERATIONS OF THE MINT SERVICE.
127
The paper currency and its gold guaranty at the end of each month.
Month.
Aggregate
circulation
of paper cur¬
rency.
Equivalent
in gold pesos
of the aggre¬
gate paper
circulation.
Stock of gold
in the eaja de
conversion .
Conversion
fund in
Banco de
la NaciOn.
Aggregate
stock of gold.
Percent¬
age of
gold to
currency
liabiJities.
1913.
Pesos.
Pesos.
Pesos.
Gold pesos.
Pefsos.
November .
837,421,278
368,465,362
239,427,338
30,000,000
269,427,338
73. 12
December .
823,263,044
362,235,739
233,197,716
30,000,000
263,197,716
72.65
1914.
January .
814,111,243
358,208,947
229,170,923
30,000,000
259,170,923
72.35
February .
814,599,991
358,423,996
229,385,972
30,000,000
259,385,972
72.36
March .
819,763,610
360,695,988
231.657,965
30,000.000
261 , 657, 965
72.54
April .
820,208,021
360,891,529
231,853,506
30,000,000
201,853,506
72:56
May .
794,339,604
349,509,426
220,471,403
30.000,000
250,471,403
71.66
June .
777,337,191
342,028,364
212,990.341
30,000,000
242,990,341
71.04
July .
739,010,040
325,177,618
196*139,595
30,000,000
226,139,595
69.54
August .
797,044,241
350,699,466
221,661,443
10,000,000
231,6)61,443
66.06
September .
797,055,632
350,704,478
221,606,455
10,000,000
231,66)6,455
66.06
October . .
797,063,239
350,707,825
221,669,802
10,000,000
231,669,802
231,676,533
66.06
November .
797,078,537
350,714,556
221,676,533
10,000,000
66.06
MONETARY PLETHORA IN ARGENTINA.
[Consul William Dawson, jr., Rosario, May 5.]1
Paper money in circulation in Argentina on March 31, 1913, amounted to $373,000,-
000 (United States currency), of wliich 50 per cent was held by the banks. Circula¬
tion on March 31, 1914, was $348,000,000, the banks holding 45 per cent. Returns
for March 31, 1915, show a total circulation of $395,000,000, of which the banks held
55 per cent. The following figures, according to “La Nacion,” Buenos Aires, show
the situation of the banks as respects deposits and loans and discounts:
JDate.
Total depos¬
its.
Total loans
and dis¬
counts.
\fqr ^1 1Q13 .
$630,658,000
$641,146,000
Mar '11 1014 .
589,897,000
607,305,000
Mar 1 015 .
536,015,000
480,053,000
Whereas March 31, 1914, showed an excess of loans and discounts over deposits of
$17 408,000, the returns for March 31, 1915, show deposits exceeding loans and dis¬
counts bv $55 962 000. This means a credit restriction during the year of $73,370,000.
The present situation is due to the very conservative policy of banks ever since the
beginning of the financial depression and the recent important issues of paper money
against gold deposited in Argentine legations in payment of food products exported
to the European continent, the United Kingdom, and the i U mtecl States. The Banco
de la Nacidn has suspended the 1 per cent interest formerly paid o depo^tom oncur-
rent accounts Arrangements have also been made for the issue ol $26,700,000 in
180-day treasury notes at 6} per cent, which will be taken by the banks as a favorable
“"The htaU°dSnd abroad ‘for Argentine food products coupled with the tremen¬
dous falling off in imports, will entail the steady increase of circulation m Argentina.
The monetlrv plethora is the natural result of lack of confidence and initiative follow-
i ne monetary pieiaiuia io , • The tardiness in resumption of commercial
iSSfi ^r°iSXted byX war. White it does not appear likely that the
activity is further aggravat y d improVement in the import trade, the
next few months mil aee| inyv< jrym^a imp^ ^ ^ ^ very favorabie trade
S?e AoSdbe tail in mini by exported looking for a future rather thau au
immediatemarket.^ ^ mIum for April, 1915, are about half
thJSo of Math ami less than half as large ae the figure, lor Apnl, 1914. _
i In Commerce and Trade Reports, Jime 17, 1^15.
128
REPORT OF THE DIRECTOR OF THE MINT.
BRAZIL.
Answers to interrogatories, 1914-
1. Gold and silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
In reis.
In United
States cur¬
rency.
20 milreis .
1,980
969
39,600,000
9, 690.000
$21,637.44
5,294.62
10 milreis .
Total .
2,949
49, 290,000
26,932.06
2. (a) 4, 5, and 11. None.
( b ) “A contract was given to a local firm on April 13, 1913, for the coinage of
60,000,000,000 reis. * * * The emission of silver to be up to the amount of 15 per
cent of the value of paper money now in circulation — i. e., on the date of this decree
(April 13, 1913) 50 per cent of the profits on this issue of silver to be employed in the
reauction of the amortization fund.”
This silver began to be imported into Brazil early in 1914. However, only 12,500,-
000,000 reis had been imported to date (June, 1915).
The Imperial Prussian Mint in Berlin coined silver coins for Brazil in 1914 as
follows:
Denomination.
Pieces.
Value.
In milreis.
In United
States cur¬
rency.
2 milreis .
2,857,500
9,015,000
3,330,000
5,715,000
9,015,000
1,665,000
$3,122,104.50
4,924, 894.50
909,589.50
1 milreis .
500 reis .
Total .
15,202,500
16,395,000
8,956,588.50
3. Gold and silver used in industrial arts: There are no statistics to be had, and
expert opinion agrees that the quantity is so small as to be practically negligible.
For reply to No. 6, see appendix to this report.
7. There are no figures available as to the stock of gold and silver coin and bullion
in the country on December 31, 1914. The quantity of gold in circulation is almost
negligible, and no statistics are obtainable as to the amount of silver in circulation.
8. (a) Government notes outstanding at the end of the year 1914:
Designation.
Notes outstand¬
ing.
Gold hold¬
ings.
Legal-tender
silver hold¬
ings.
Government:
Convertible .
Reis.
1 157, 786,930,000
822,496,018,500
0)
0)
Inconvertible .
Total .
980,282,948.500
($535,626,603.06)
1 The convertible amount is covered by the deposits of gold in the Caixa de Convers&o on December31
1914, as follows:
Country.
Monetary imit.
Amount.
Equivalent in
United States
currency.
British .
Pounds sterling
2,958, 764/10
13,884,660
116, 780,000
1,982, 870
27,136,675
11,160
29,310
723,340
$14,398,827.44
2,679,739.38
63,808. 59
471,923.06
27, 136,675.00
2,265.48
28,284.15
139,604.62
French .
Francs
Brazilian gold .
Reis
German .
Marks
American .
Dollars
Austrian .
Kroner
Argentine .
Pesos
Spanish .
Pesetas
Total .
44,921,127.72
OPERATIONS OF THE MINT SERVICE.
129
There are no bank notes in Brazil
(6) The amount of silver deposits in the Caixa de Conversao is negligible.
9. There is a premium on gold. The actual currency of the country is convertible
and inconvertible notes.
The premium on gold varies with the exchange, the par of the milreis being 27 pehce.
The premium over the year 1914, at sight on London, was as follows:
Highest premium . 15f^ pence.
Lowest premium . 10^ pence.
Average premium . 14|^ pence.
10. Laws passed during 1914: Decree No. 10875 of May 6, 1914. Authorizing Messrs-
Alfredo Drossner and Jules Roth, bankers, residing in Paris, to organize a banking
company, with its head office in Rio de Janeiro.
Decree No. 28G3, August 24, 1914: Authorizing the government to issue paper money
to the amount of Rs. 250,000,000,000.
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Gold.
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Groot Rrifflin _ _
£23,134
£4,637,855
374,694
1,012,669
1,985,342
55,912
110,000
1,000
30,000
10
48,529
£438,407
412
(rflrniflTiv . . .
£84
29
Pro n no .
A rrrnTil ino
794, 194
11,400
2,000
T 7 1*1 1 CT1 1QTT
Pnrtn nro 1
.
Total .
830,728
($4,042,737.81)
113
($549.91)
8,256,011
($40,177,877.53)
438,819
($2, 135,512.66)
Country.
Silver.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
£6,937
£577
149
64
£80
£292
9Q9
($1,421.02)
($3,844.54)
80
($389.32)
6,937
($33,758.91)
ISSUE OF BRAZILIAN BONDS AUTHORIZED.
[From Daily Consular and Trade Reports, Aug. 3, 1915.1
Consul General A. L. M. Gottschalk, at Rio de Janeiro, Brazil, reports the authoriza¬
tion by a decree of the Brazilian Government of the issuance of paper treasury bonds
to the amount of 50,000 contos of reis, in accordance with the terms provided in a decree
of February 5 1915, in which it was ordered that they should bear interest of 5 per cent
gold r,er annum, redeemable in one year unless the condition of the country' shall
require that the payment bo extended . The bonds are to have the nominal values of
100 200 500 and i,000 milreis. In Brazilian currency a conto is 1,000 milreis, and
the' gold’ milreis is equivalent to $0,546 United States currency.
9760°— 15 - 9
130
REPORT OP THE DIRECTOR OF THE MINT.
BRITISH GUIANA.
Answers to interrogatories, 1914.
1, 2 ( a and b), 4, 5, and 9. None.
(For replies to Nos. 3 and 6, see appendix to this report.)
7 . Approximate stock of gold and silver coin and bullion in
31, 1914:
the country
on December
Classification.
In banks.
In circula¬
tion.
Gold coin .
«9Q QQO
Gold bullion .
COO, uOm
22,000
GflK 919
Silver coin .
nnn
Silver bullion .
DUO, OX A
v>uu, UlRJ
Total .
CX IQ O A A
cnn nan
UUy, 611
UUU, OUU
8. Bank notes outstanding at the end of the year 1914: Banks of issue, $683,820
(secured by deposit of securities locally and in London).
10. Laws passed during 1914: Bank-note ordinance No. 1 of 1914 herewith.
11. Latest report of lands and mines department forwarded herewith.
12 (a and 6). Imports and exports of gold and silver during the calendai;year 1914:
Country.
•
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Coin.
British West Indies _
Dutch Guiana .
$2,411
$6,300
*39
Germanv .
United Kingdom .
$1,209,705
19,842
$135,590
918
7,909
2,663
$57,000
United States .
17
Venezuela .
$7,951
107,719
French Guiana .
Total .
2,428
115,070
6,300
1.229,547
135,590
11,522
57,600
AN ORDINANCE TO MAKE PROVISION FOR THE ISSUE OF BANK NOTES (FEB. 19, 1914).
°/BHm ** ****
1 . This ordinance may be cited as the bank-note ordinance 1914
2. In this ordinance, unless the context requires a different mnatnwinn +i,„
-bank note” shall extend and apply to all bills or %£S£ to
bearer on demand, issued by any banker. l Ul mum y 1
“Banker” shall mean any company incorporated by charter, or under the authority
of an act of Parl.ament or the law of any cofony, carrying on tLe b SaTof ba£g
*
Whenever a banker desires to issue bank notes in this colony he shall—
(a) Notify m writing to the Government secretary the amount in value and the
fn°tendeda2uem CUmmCy °f ^ ^ UOte9 he W** to issue, aid th?date“f such
(//) Deposit, and thenceforth at all times keep deposited in such manner and in such
council with the approval of tlio secretary of state for th^P™ilnt*ed the governor in
Crown .n.l’Uy with
OPERATIONS OF THE MINT SERVICE.
131
reserve fund,” consisting of coin, being current gold coin of the United Kingdom or
of any British possession, or of securities authorized as trust securities in England
under the trustee act. 1893, or under any amending act (including sect. 2 of the
colonial stock act, 1900, or any section or act amending the 6aid section), or partly of
such coin and partly of such securities, equal to not less than the amount in value of
the bank notes intended to be issued or for the time being in circulation: Prodded,
That it shall be lawful for the governor in council to call upon a banker to make up his
bank-note reserve fund to the" full value of his note issue, whenever it may be found
that such reserve fund has fallen below the full value by reason of the depreciation
in the market value of deposited securities.
*******
7. The amount of bank notes issued under this ordinance by any banker shall in
no case exceed the amount of the paid-up capital of the bank making such issue.
8. No bank note issued under the provisions of this ordinance shall be of less value
^9^ The bank-note reserve fund shall be held by the Crown agents for the colonies
or by the trustees, separately or jointly, as a special fund, primarily available lor
and liable to the satisfaction of the claims of the holders of bank notes issued as afore¬
said- but any net income derived from the fund, either from interest on deposits
of the coin or on the securities, or otherwise, after payment of necessary expenses of
administration, shall be the property of the banker by whom such coin or securities
have been deposited. In the event of a banker failing to pay his bank notes when
presented, or becoming bankrupt or insolvent, or ceasing to carry on business as
such banker in this colony, the securities (if any) may be realized by the Crown agents
or the trustees, and the fund shall be applied, so far as may be neceaanr to the
redemption of the bank notes of such banker without prejudice to the rights of the
holders of such bank notes against any uncalled capital of the banker, and to their
rights of ranking with other creditors of the banker against his general assets. Sub¬
ject to this primary liability the fund shall be applicable as part of the general assets
of the banker.
*******
11. Whenever a banker shall issue bank notes in excess of the amount authorized
by the provisions of this ordinance he shall forfeit a sum not $“? a — ? *or
every day during which such excess of any sum not exceeding $o, 000 shall continue,
and a further sum of $25 a day for every day during which such excess shall continue
for any portion of each additional sum of $5,000 m bank notes so issued in excess.
' *
14 This ordinance shall not apply to the Colonial Bank. .
15 This ordinance shall apply to the Royal Bank of t anada, subject to the proviso
that the said bank shall be allowed to issue bank notes ot the said bank to an amount
not exceeding $500,000, or such larger amount as may be authorized bv the secretary
of stote for t^e colonies, subject to a deposit of cash or securities or both as provided
in section 6 heS equal to not less than one-fourth of the amount m value of the
otal of the banTnotes for the time being in circulation and subject to the proviso
.7 the exoimdonoflO years from the date hereof the governor in council, with
that at the expirat o y f state mav bv order direct that the entire
the previous aPP^ya . ^ amount of any bank notes issued under this section
.hill be Repealed tom ^ch date after the coming into operat.on oi tins ordinance as
‘WSnM
?XvSld”*Vbf^TS.to the treasury loathe credit oi the general revenue of the
ordinance shall
SSi1 Uie pSbliSn of S proclamation it sLll take effect as from the 2d of Feb-
ruary, 1914.
132
REPORT OF THE DIRECTOR OF THE MINT.
DUTCH GUIANA.
Answers to interrogatories, 1914-
1, 2 (a and b), 4, 10, and 11. Not applicable to this office. There is no mint.
3. No statistics are kept.
5. United States gold coin imported during 1914, $500. (For reply to No. 6
see appendix to this report.)
7. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1914:
Classification.
In banks.
Gold coin..... . . .
$88,094.00
276, 175. 59
170,983. 51
72.59
Gold bullion .
Silver coin.. . . . .
Silver bullion.. . . . . . . .
Total .
535,325.69
8. Bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold hold¬
ings.
Banks of issue .
i $389, 860
$127,055
1 Not covered by gold or silver.
9. There is a premium on gold. Actual currency of the country, bank notes issued
by the Surinam Bank.
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports
(bullion).
Imports.
Exports
(coin).
Coin.
Bullion.
Coin.
Bullion.
Demerara .
$910.00
French Guiana .
$81,772.86
Netherlands .
$500.00
8282,864.96
24. 08
45,729.88
$6,704.40
$2,256.00
England .
France .
Total .
500.00
81,772.86
328,618.92
910.00
6,704.40
2,256.00
133
OPERATIONS OF THE MINT SERVICE.
COLOMBIA.
Answers to interrogatories, 1914.
1. Gold and silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
Gold (new coinage):
16,644
521
$83,220.00
1,302.50
$2.50 .
Total .
17,165
84,522.50
Silver (recoinage):
50 cents .
768,000
2,560,000
3,840,000
384,000.00
512,000.00
384,000.00
20 cents .
10 cents .
Total .
7, 168,000
U,280,000.00
1 Coined at the mint at Birmingham, England.
2 (a), 3, 4, 5, and 9. None.
2 (6). Silver coinage of $1,280,000 executed at the mint at Birmingham, England.
(For report to No. 6, see appendix to this report.)
7. Approximate stock of gold and silver coin in the country on December 31, 1914:
Classification.
In circular
tion.
Gold coin .
i $4, 000, 000. 00
3,999,474.80
Silver coin .
Total .
7,999,474.80
1 Estimated.
8. Government notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Reserve in
gold.
Reserve of cur¬
rent silver.
Government notes .
f$10, 099, 394.00
i $331,928.00
2 267,459.43
8 $584, 567. 00
4 200, 000. 00
Total . . . . . . . .
10,099,394.00
599,387. 43
784,567.00
i In the country. 2 External. 3
In Bogota.
4 Outside of Bogota.
10. The coinage of $2,000,000 in silver coins was authorized by law No. 126 of 1914.
11. No report on operations of the mint is published because the mint does not
operate regularly. _ ,
12 (a) and (6). Imports and exports of gold and silver during the calendar year
1914:
Country.
Gold.
Silver.
Exports.
Imports
(coin)
Exports.
Coin.
Bullion.
Coin.
Bullion.
$403,477.54
$4,678,586.98
$1,280,000
$1,083,350
$194,275.29
i No country indicated for the gold.
134
REPOET OF THE DIRECTOR OF THE MINT.
Exportation of gold in 1914-
[From Bulletin of the Fan American Union, April, 1915.]
The exportation of gold from Colombia in 1914 amounted to $5,122,224.37, divided
as follows:
In bars . $3,580,108.38
In dust . 1,126,904.45
In coin . 415,211.54
Total
5,122,224.37
The weight of the gold exported was 14,319 kilograms, 78.5 grammes.
PARAGUAY.
Answers to interrogatories , 1914-
1, 2 (a) and ( b ), 4, 5, 6, and 11. None.
3. Amount oi gold and silver used in industrial arts: A household industry too small
to estimate.
7. Approximate stock of gold coin in the country on December 31, 1914: In public
treasuries, $600,000; in banks, $125,000 (about); in circulation, $50,000.
8. Government and bank notes outstanding at the end of the year 1914: Govern¬
ment, $60,000,000 (all uncovered); banks of issue, $25,785.
In addition to the 60,000.000 pesos outstanding, a temporary issue of 25,000,000,
redeemable within 12 months, was authorized by the law of August 14, 1914.
The Banco de la Republica has issued notes in gold, of which $25,785 still remain.
This sum includes an amount of nickel equal to $6,000 gold.
The only coins existing in the country are a few nickels, the amount of which is
not known; but $1,800,000 were originally issued in 50-cent notes and 20-cent notes,
and 5, 10, and 20 cent nickel coins.
9. Premium or* gold during 1914: Official rate, 23 per cent; commercial rate, 37
per cent; highest premium, 23 and 37 per cent; lowest premium, 17 per cent; average
premium, 102 per cent.
10. Laws were passed during 1914 concerning loans of banks to other banks, and
the moratorium with respect to debts due before August 14, 1914, and between August
14, 1914, and May 31, 1915.
12. (a) Gold exported during 1914: $800,000 in gold coin, principally to Argentina.
No gold was imported.
12. (6) There W’ere no imports or exports of silver during 1914.
TRANSLATION OF LAW OF AUGUST 14, 1914.
Article I. The Banco Agricola is authorized to grant loans to the local banks to
total amount of $25,000,000 of legal currencv.
Art. II. For this purpose the Banco Agricola is empowered to emit notes up to the
said amount specified in the preceding article, using those intended for the service
of exchange (i. e., for the renewal of delapidated notes withdrawn from circulation).
Art. III. The loans shall be sanctioned by resolution of a council composed of
three members appointed by the Executive, and shall be subject to the following
terms, guarantees, and conditions:
1. They shall not exceed one year, and shall be redeemed by installments in 6 9 and
12 months.
2. They elial! bear interest at 9 per cent per annum, payable at the appointed
ivium.
3. They shall be guaranteed by the accounts of the banks, and their amount shall
not exceed 70 per cent of the value of the document accepted in suretv
S°SSby law the ^
oI “»*« “ .hall
P^huwT.toUb^d,iSX‘g^eSl^te *™c,ioned in accordance trilh the
and in foreign Soney""" 12° “ Kcotded ™l»'t ol obligation, in gold
Abt. VII. Let it he communicated to the Executive.
OPERATIONS OF THE MINT SERVICE.
135
Given in the sessions hall of the honorable Legislative Congress on the 14th of
^The president of the Senate, P. Bobadilla; M. Arrias pabral, secretary; the pr«d-
t, of I lie Chamber oi Deputies, Victor Abente Jiaedo; /. Diaz Eecobar, und«r
secretary. Asuncion, August 14, 1014 .
Let it be law, be communicated, published, and entered in the Official Register.
Schaerer,
ft. ZumZABKETA.
PERU.
[From Bulletin of The Ban American Union, February, 1915.]
The Vital linage of silver and gold, respectively, in 1914 conffl^dof720,433sole0
0 hoi equals $0.48666) and £123,812 (1 Peruvian pound equals $4.8665]. A law of
S.-ritcrnhcr 9, 1914, provide* for the coinage in the mmt at Luna of copper centavos
not in excem of 2,500,000 pieces.
cons AGE OF GOLD AND SILVEK.
[By consul general, Calbo-Llma, May 2 S, In Supplement to Commerce Keporte, July 27, 1915.]
Tinriru? 1014 there was a large increase in the coinage of gold and silver at the
.latSndntinwmmrLrrn will, the previous years, being largely due to the hoarding
f r vK.|V. and gold coin by Home of the small btuainese firms upon the banks intro-
duSono? mpS raoueydunng September, 1914. Gold coin £ 1-IXiUrKlandone-
lifth jimnd pieces were coined to the value of $605,450, in comparison with $357,215
'silver coin to the value of $369,777 was also manufactured at the mint during 1914,
Hold and silver, etc., exporuw u> me vmwu - ", - Am<ri(ai]
consulate general at Callao, and the consular agencies of Paita. Salaverry, and Mol-
lendo, with their values for 1913 and 1914:
Classification,
1913
1914
Class! fi cation.
1913
1914
From Callao; a . ,
Argentiferous lead bar* . . .
( topper and silver ores . . . .
fill ver and lead ores .
110,343
48,586
10,973
5,071
232, 122
3,934
66,012
From Salaverry:
Copper and silver ores —
Silver, cooper, and lead ..
l; 1 1 r.nd i t it %T U*r CtT(h%
$1,446
8,001
1,230
6,190
3,552
55,744
[>CfMl and »llver ore* . .
Silver sulphide .
ti/rm
nj|vf*r arm up.s..*.
Silver and gold ores .
From Mollendo: Cold liars ...
SILVER AND OOI.D MINING, ETC.
Tho mining of oilvm iothc SEFS
f n'mlln! Kifnartof LW ohippwl in dilt«rent forma, an.l only a small portion
mi!,:Janr,l,!ppo.l ooparaliy, " V^’Xolh i
S&jJ&SdLo in,!, coin oi the country by die Gov-
‘,“riDg 1914 *“ ta- w-“
per troy ounce m •fanil^£’ K’ rrci wer-' operaied during the year, but the production
The oMsilver mums ^i^pw^ines in the vicinity of Huara were worked in
KSy ”rt'ol year, bill operation- bruu on a, .mint of
136
REPORT OF THE DIRECTOR OF THE MINT.
market conditions. The borax mines in the southern part of the Republic were
also idle at the end of 1914. 1
• ^le 8° d mines those in the vicinity of Cerro de Pasco ran steadily, and two
in the Departments of Arequipa and ‘Apunmac operated throughout the year. A
new mill of the Inca Mining (Jo. in Puno was completed, but the company operated
only a part of the year. The year’s production from the gold placer mines was small
ihe exports of gold for the year are roughly estimated at about 50 kilos (110 pounds)’
most of whidi constitutes part of the copper, lead, and other ores exported. La
Mmena, of Yauli, gives the total production of gold in metallic form for the year
1914 as 6/0 kilos, most of which was produced in the Departments of Apurimac
Puno and Junin. This gold was manufactured into Peruvian coin by the national
1° value of .-£91, 501 ($445,290). The exports of lead during the year were
2,280 tons, in comparison with 3,196 tons in 1913. y
Exports of gold and silver, 1909-1913, inclusive.
[From Bulletin of the Pan American Union, Dec., 1914.]
Classification.
1909
1910
1911
1912
1913
Copper and silver bars .
Silver and copper bars .
£ *. d.
£ 8. d.
600,841 6 28
635,852 3 31
£ s. d.
1,211,078 4 40
£ s. d.
1,826,795 5 44
£ s. d.
11,536,157 2 88
cUlu oil V til ore .
Silver and lead ore .
Oonnpr anH Qilvpr Am
13,647 5 41
37,516 7 47
123,698 1 30
29,696 8 40
153,082 3 30
> 337,850 0 97
v/uppci aiiU OH V Cl Ui C • ... . .
Silver and copper ore .
rj aIH Arn
60, 769 4 01
948 3 28
73,401 2 81
164, 761 9 76
50,390 1 28
1,856 3 26
80,197 1 00
i 72, 948 2 50
325,410 8 07
u uiu ore .
Silver sulphide .
Copper and silver matte. . .
Silver ore .
Copper, silver, and lead
matte .
92,083 1 68
130,913 3 90
24,477 7 35
112,384 7 02
208,635 1 70
50,311 7 54
3,722 8 50
95 0 00
222,640 0 00
458,644 4 89
34,209 8 29
i56,775 6 93
70,073 8 83
61,043 2 61
38,440 4 70
29,250 6 48
Copper, lead, and silver
matte .
5,591 3 73
32,148 1 26
Silver bars .
Silver, copper, and gold
sulphide .
47,51.6 6 26
50,523 3 28
20,828 3 72
1,612 4 10
5,738 0 00
• 810 1 40
3,649 8 51
19,778 3 24
24,354 3 67
19,069 0 47
16,699 1 22
15,033 3 35
12,920 3 06
8,570 9 83
Silver and copper sulphide.
Copper, silver, and lead
ore .
i, 703 6 82
3,3il 2 96
7,546 6 66
215 4 60
2,827 4 45
10,946 0 20
Silver and gold ore .
Silver and lead bars. . . .
445 9 13
936 8 93
Dead and silver bars. . . .
Copper, silver, and gold
matte .
Copper, silver, and gold
ore .
20,277 7 61
666 1 30
6,192 4 97
3,436 1 05
1,075 8 88
932 8 50
4,551 6 10
Gold, silver, and copper
ore .
482 5 14
3,051 6 04
Referring to the law of October 1, 1914 “authori^nr* ^ j • . ,
Poruvi“
of the late act are as follows: The gold miarantv isr^Si’ ^Principal provisions
35 per cent, as provided for in the first issue- a d+ to 20 per cent lnstead of
amount of the issue in excess of the gold guaranty t°iPay i Pet\cent for the
The loan to the Government is increasfd from£l00 ono Govemm“t-
revenues from the national tobacco tax (a Gowrr^°? to £o00-000, guaranteed by
checks of half-pound denomination SalaT hfS? Circular bank
the Beneficencia (a savings bank of ffl • T1?e de Aherros of
late issue, taking £300,000. All funds represent wi*10™ ?ed ,to Participate in the
not presented for conversion 12 months ^fter tpd **y tbe circular checks which are
shalf revert to the Government the commencement of the operation
-Tta Of animated
in favor of charging the banks 5 per cent for GS’ tbe mf J°nty of the senate being
leading daily ntwlpaper of the KSt USG °f tbe^e. El Commercio, the
vigorously fought the passage of the law in^ta \ gan*°rf the Present administration,
the abandonment of the gold standard anrl ito Present l0rm » declaring that it meant
ably the .financial status Ind fred it of the ^ ®^^m?nt+1W0Vld affect most unfavor-
present time. 1 1 the RePublic in the future as well as at the
OPERATIONS OF THE MINT SERVICE.
137
“The few patriotic and far-seeing members of Congress who have the general wel¬
fare of the country at heart were, however, in the majority, and the law was finally
passed largely favoring the banks and the Government. .
“ Had the financial position of the Government been in a more healthy condition
it is quite possible they would have been able to authorize the issue under more
beneficial and secure terms to the country’s interest, but, as was well known, the
Government was at the time hard pressed for funds to meet its urgent local obliga¬
tions, such as the payment of the troops, Government officials, etc., and a loan was
most necessary, and it was impossible to secure one abroad. It was also generally
recognized in the financial circles of Lima that the principal banks of the country,
which are foreign— particularly the Bank of Peru and London, whose bondholders
are largely French — could not render the necessary assistance unless the Government
first authorized the banks to issue the paper money. Consequently it appears that
the negotiations went through by mutual understanding between the banks and the
present administration, both of whom have apparently profited by the negotiations
at the expense of the nation and the partial loss of its financial prestige through the
generally recognized abandonment of one of the most valuable assets oi the Republic
the gold standard.”
URUGUAY.
Montevideo, May 5, 1915.
The Honorable the Secretary of State,
Washington.
Sir: I have the honor herewith to transmit to the department translation of a decree
of April 27, 1915, determining the equivalents of the Uruguayan peso in foreign
moneys for the purpose of collection of consular fees by Uruguayan consular officers.
Attention is respectfully invited to the fact that the value of the Uruguayan peso,
according to this decree, is fixed at $1.05 United States currency.
I have the honor to be, sir, your obedient servant,
H. F. Arthur Schoenfeld,
Charge d' Affaires ad Interim .
DECREE DETERMINING THE EQUIVALENTS OF THE URUGUAYAN PESO WITH THE MONEYS
OF OTHER NATIONS FOR THE PURPOSE OF COLLECTION OF CONSULAR FEES.
Ministry for Foreign Affairs,
Montevideo , April 27, 1915.
The President of the Republic decrees:
Article 1. For the purpose of article 6 of the law establishing the consular tariff,
the Uruguayan peso shall have as equivalent
($2.50), m paper money legs) cur-
^mAustria-Hungary, 5 crowns 40 cents (crs. 5.40).
In Belgium, 5 francs 45 centimes (frs. 5.45).
In Bolivia, 4 shillings sixpence (£0/4/6).
In Brazil, 4,200 reis (rs. 4,200). # , ,
In Chile, 7 pesos 50 centesimos ($7.50), in money of legal tender.
In Cuba, 1 dollar 5 cents ($1.05), in American gold.
In Denmark, 5 francs 45 centimes (frs. o.45).
In t^eUmtedTstaffisof America, 1 dollar 5 cents ($1.05), in American gold.
In France, 5 francs 45 centimes (frs. 5.4o).
In Holland, 2 florins 70 cents (da. 2.70).
In England, 4 shillings sixpence (£0/4/6).
In Italy, 5 lire 50 cents (L5.50).
In Mexico, 4 shillings sixpence (£0/ 4/6).
Iu Norwav, 5 francs 45 centimes (frs. 5.40).
In Paraguay, .38 paper pesos ($38.00), legal tender.
In Peru, 4 shillings sixpence (;£0/4/6).
In Portugal, 1,600 reis (rs. 1,600).
In Sweden, 5 francs 45 i be 'considered as the equivalent of the Uruguayan
138
REPORT OF THE DIRECTOR OF THE MINT.
Art. 2. Until the ministry for foreign affairs distributes the consular accountin'?
books, consuls shall enter in the cash book the consular fees collected by their value in
Uruguayan currency and their equivalents.
imA*T;,3- Honorary consular agents in deducting the 50 per cent of the collections
Kllh7nXlL iPr Uruguayan gold ($110), which is due them according to
St fl17; n A *7’ hS c?nsicler 38 the equivalent of the currency collected the bank
rate for sight drafts on the last day of the month .
^ After June 1 proximo the present decree shall be enforced and there shall
cease to be applied the regulations issued under date of August 19, 1913
Art. 5. Communicate, publish, and insert.
PERUVIAN GOLD LEGAL TENDER IN URUGUAY.
[Swretary o. UgaUc H.
, JJ® Government of Uruguay has issued a decree declaring the Peruvian <?old pound
legal tender and fixing its value at $4.70 Uruguayan, the sanle ss the pZdSST
GOLD RESERVE OP URUGUAYAN GOVERNMENT BANK,
o, Legation H. Apt. 3, in M, Centum an,
JSSf thSfw ’?fmnd slShtblllBt° $5>679-°15. The proportion of gold to bills and
banks and of fthat d^nilwH^i . ^?tes outstanding on the basis of gold held for other
100 per cent The nntirt> n Uruguay abroad are in the proportion of
iuu per cent. 1 be entire note circulation amounts to $21,612,520. * 1
VENEZUELA.
f < bl ,binu.ary 1912, the Government of Venezuela issued a decree fixin» the values
of the foreign gold compound in circulation in that country and the tmfff of va S
?,ut ,orci«“ *»■<• coinsSaU the offices
tutions that directly or indirectly collect or receive public funds, as follows:
«**• »a . MS
Th® sovereign of England , or pound sterling .... „
The half sovereign in proportion. . 25* 25
G01 propOTtion.°rtl1 America> tbo'double" eagles "or pieces of $20." ""'I"" I’""""*""’ io£oo
German gold, the double crown or piece of 20 marks. . rti
Its fractions in proportion. . 21. <5
The double condors of Colombia .
Its fractions in proportion. . 100. 00
The piece of 20 soles ol Peru .
Tts fractions in proportion. . 100. 00
The Mexican onza of the weight of 33.770 (33.841?') crams n R7S
The Isabella of Spain of the value of 25 pesetas ’ B ’ 0875 flne . 100. 00
Its fractions in proportion. . 25. 00
EUROPE.
American Consulate,
C arlsbad, Austria, December 29, 1914.
PWjJgbjMjPgy. D«. 27, p,on, w.„.« Y«.W,
The recent issuance of 2-crown notes hn<* nnt / h i , ,
small moneys. Besides this, it has long beSfrecomizod t T the W£mt, °
for the pay of the troops to have besides the 2 J \hat 11 wou,ld be veiT UBeful
this would help greatly iu diminishing thVw«^i * T?i. te8’ even 1-crown notes, as
masters. As we learn, a sCtS^„ the £n? the )T chests of the arm>' pay-
The total amount will not exceed «£££* T^ZlVr°tZ of
OPERATIONS OF THE MINT SERVICE.
139
these notes has not yet been fixed to a certainty. To simplify and facilitate money
transactions, the coinage of half-crown pieces will serve. The amount of small coins
m Austria has long been known to be too small, and there has been a permanent
shortage of nickel coins. At present there are only 48,000,000 crowns in 20-heller
pieces and 32,000,000 in 10-heller pieces in circulation. The coinage of half-crown
pieces will not, as we hear, take up any of out stock in nickel metal. (Note. — It is
presumed that these are to be of silver.)
DENMARK.
Answers to interrogatories, 1914-
1. Gold and silver coined during the calendar year 1914:
Denomination.
Gold.
Denomination.
Silver.
Pieces.
Value.
Pieces.
Value.
2ft kroner
920,090
Kroner.
1 18,401,800
25 ore .
*
346,741
3,043,439
3,390, 180
Kroner.
86,685.2 5
304,343.90
2 391,029. 15
10 ore .
Total.. .
> United States currency, $4,933,290. 1 United States currency, $104,795.61.
2 (a and b), 4, and 9. None.
(For replies to Nos. 3 and 6, see appendix to this report.)
5. United States gold coin imported during 1914: Only what was brought by tour¬
ists, etc.; perhaps, altogether about $15,000. _ ,
7. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1914:
Classification.
In public
treasuries.
In banks.
In circu¬
lation.
Kroner.
Kroner.
84,176,468
3($22,559,293)
7,202, 222
3 ($1,946. 276)
2,500.000
b ($670,000)
(*>
(2>
(*>
1,200,000
b ($321,600)
1,200,000
» ($321,600)
93,938,690
3($25, 175,569)
3 United States equivalent.
8. Government and bank notes outstanding at the end of the year 1914:
Designation.
Notes outstand¬
ing.
Gold holdings.
. Kroner.
10,000,000
i ($2,690,000)
210,000,000
i ($56,280,000)
Kroner.
Government .
84, i"6, 468
i ($22,559,293.42)
Banks of issue .
220,000.000
i ($58,960,000)
84,176,468
i ($22,559,293.42)
Total .
i United States equivalent.
140
REPOET OF THE DIRECTOR OF THE MTST
10. Laws passed during 1914: Law of August 2. 1914, authorizing temporarily to
discontinue the payment of its notes in gold: law of August 20, 1914, temporarily
establishing a limited moratorium; laws of September 25. 1914, and January 14,
1915, extending law of August 2, 1914.
11. Report on operations of mint: Duplicate copies inclosed herewith, for fiscal
year April 1, 1913, to March 31. 1914. There is no department of mines.
12 (a and by. Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver imports
(bunion;.
Imports (coin;.
Exports (coin).
Germanv .
Kroner.
136,(01.00)
*(», *4* 000;
Kroner.
Kroner .
Sweden .
113.300.000
*($3,51«,CrjQ)
i9,(OJ.<Jtt)
*($2,112,000)
Norway .
United States .
1,200 CM)
*($321,600;
Total .
36,000,000
* (*,648,000)
22,300,000
*(*5,830,000;
l,200.a»
*($321,600;
* Tbe fibres only estimated, being founded on mlormatioai obtained from banker?. Official figure
bare noc been piibli-r^d since t be ootimk of the war. Most of th# impcrtaticos indi¬
cated were made toward tbe end of 1214.
* United States equivalent.
FINLAND.
dnatrcr* to interrogatories 191 S.
1- Gold and silver coined during the calendar year 1913:
TtrawmiMliiBi
Pieces.
Yafeae.
Finnish United States
marks. currerrj.
Gold:
20 marks . . *n 1 rrn
4,280.010
3,960.000
*826, oe
754,280
10 rTTfcj-fr*
3s*Coco
TotaL .
$10,000
832,000
18,240,000
* 208,000
1,580.1»
40,144
Silver: 25 pexzni . . .
1 Whereof, in addition to »4d bulls cm 153,65 in United States gold coin (Finnish marks 33QJ012J&)
snd flUOOO English gold (Ftoii m&rks 351,95X33). $67,927, were used.
* Whereof, in addition to dver boUke, 56.903 Finnish marks (110,993) in Furnish worn-out sflrff
coins were used .
2 (a and 6;, 9, 10. and 11: None.
(For answer to No. 3 see appendix to this report.)
4. Gold returned from use in the industrial arts to monetary use deposited at the
mint for coinage during 1913: Various jewels, gold leal, bullion, etc., 64 6 fine ounces-
3. Lnited Statee gold coin: Imported during 1913, $41,855; melted at mints, 1913,
$63,855.
7. Stock of gold and silver in the country on December 31, 1913:
Cl&ssSeation. In banks. Incimilalicc
Gold noon .
Fimmtik ecrti. Firnnuk mnrks.
ei lc< -mi m nn jaan OTl
GddboLb-n . . . .
*1, JJU. w
S22.810.S4
2, 156, 508. 25
25,980.47
saver co^l^ . . . .
i2,<B4,«T7.56
Total .
34,£719560l56
V*6^T24U. 06 1
44. 71^, J57.»
i(*8,O0.M*.00>
1 United States equivalent.
OPERATIONS OF THE MINT SERVICE.
141
8. Bank notes outstanding at the end of the year 1912:
Notes outstand¬
ing.
Gold holdings.
Legal-tender
silver holdings.
In Bank of Finland .
•
Finnish marks.
117,498,127.00
1 ($22, 677, 138.51)
Finnish marks.
35,355,162.41
1 ($6,823,546.35)
Finnish marks.
o i fie 70Q
luo, tuv. ou
>(8418,560.93)
1 United States equivalent.
9. Amount of bank notes outstanding at the end of 1912 not covered by legal-
tender gold or silver coin or bullion: 79,974,255.09 Finnish marks ($15,435,031.23).
10. Bank notes outstanding at the end of the year 1913:
Notes outstand¬
ing.
Gold holdings.
Legal-tender
silver holdings.
In Bank of Finland .
Finnish marks.
113,003,612.00
i ($21, 809, 697. 12)
Finnish marks.
36, 127,093.33
1 ($6, 972, 529. 01)
Finnish marks.
2, 156,369.25
i ($416, 179. 27)
i United States equivalent.
11. Amount of bank notes outstanding at the end of 1913, not covered by legal-
tender gold or silver coin or bullion: 74,720,149.42 Finnish marks ($14,420,988.84).
12 (a and 6). Importation of gold and silver during the calendar year 1913:
Gold.
Silver.
Coin.
Bullion.
Coin.
Bullion.
Finnish marks.
1,636,421.42
8 ($315, 829.33)
Finnish marks.
i 27,877.00
8 ($5, 380. 26)
Finnish marks.
61,637.40
8 ($11,896.02)
Finnish marks.
1 362,387.00
8 ($69, 940. 69)
i There was no export of gold or silver during 1913.
a Equivalent in United States currency.
FRANCE.
[From reports of the general assembly of the stockholders of the Bank of France, Paris, 1913-1915.]
Situation of the Bank of France and branches.
Year.
1911 .
1912 .
1913 .
1914 1 .
Metallic reserve.
Francs.
3,190,300,000
3,194,600,000
3,517,400,000
4,158,500,000
Francs.
805,200,000
670,800,000
640, 100,000
355,900,000
and decisive justification.
142
REPORT OF THE DIRECTOR OF THE MINT.
Notes in circulation.
Year.
1911 (average).
19121 . 7:...
Value.
Francs .
5,243,375,000
5,542,217,8-10
Year.
1913 2.
1914 3.
Value.
Francs.
u, / 13, 551 2Qn
_ _ __ «woSj;g
^UptoDech2^ma4m^ iovaS* by the m««
the circulation reached to about 400,000,000 in
b/lheVai ‘of jSiA2STii bSn^ththtV1 feST, o,t ™
posal of the minister of winces * rendered in council of state upon the pro
— the Bank of
GERMANY.
[Translation.]
Ansvjers to interrogatories, 1914.
The gold coinage in the calendar year 1914 was as follows:
Denomination.
Pieces.
Value.
Marks.
United
States
currency.
20 marks .
3,876,849
1,002
77,536,980
10,020
Total .
3,877,851
77, 547,000
~l8~456dS#
3,632.1731 kilo^ama^fn6 was *JJ*d0 from retired imperial gold coins of the weigi
The silver colnjSe’,7 Taiand frora "oId bars purchased by the Reichsbauk.
uage m 1914 was as follows*
ht of
5 marks.
3 marks..];.'.’
2 marks .
1 mark . ]
50 pfennigs
Denomination.
Total .
c°inage
Pieces.
2,057,57 9
5, 212, 597
1,515,253
30,242,637
16, 145,478
55, 173, 544
Value.
Marks.
10,287,895
15,637,/91
3,030,506
30,242,037
8,072, <39
United
States
currency*
7,1 97,'S
1,92b31"
market price.
^ (a). No gold
s principally made from silver purchased at the Pr
8 W°re coined at German mints for other countries during
OPERATIONS OF THE MINT SERVICE. 143
The Imperial Prussian Mint in Berlin coined silver coins for Brazil in 1914 as follows:
Denomination.
Pieces.
Value.
Milreis.
United
States cur¬
rency.
2 milreis . .
2,857,500
9,015,000
3,330.000
5,715,000
9,015,000
1,665,000
$3,122, 104.50
4,924,894.50
909,589.50
1 milreis .
500 reis .
Total .
15,202,500
16,395,000
8,956,588.50
(b) The Hamburg Mint coined for the German East African Colony and Roumania
the following (silver) :
Denomination.
Pieces.
Value.
Rupees.
United
States
currency.
500,000
100,000
200,000
500,000
50,000
50,000
$158,666
15,867
15,867
Total .
800,000
600,000
190,400
For Roumania:
1,541,734
2,443,467
800,000
13,083,468
1 2,443,467
1400,000
595, 109
471,589
77,200
Total . a .
4,785,201
15,926,935
1, 143,898
1 Lei.
2 (6). No coinage was executed by other governments for Germany. , i j
3. Since thenars 1906 and 1907 no official inquiries as to 1 ffie quanta es ofgoM
and silver used in the industrial arts have been pursued, and no private estimates
“4 ^nly 'retired German gold and silver coins or foreign gold coins and gold and
^|oldecr.wSrSd.TZ German mine, during 1914.
fstSKlgoM^d SSfS SuonKWe country on December 31, 1914:
Gold coinage up to the end of December, 1914 (after deduotu^re- 5,134,326,000 ($1,221,969,588)
coinages) . .
. marks.. 2,092,811,000 ($498,089,018)
Sil ver^coinage up to the' end 'of' December,' 1914 (after deducting. ($289,723,530)
Sil vwreoins" in Reiclisbank on same date J ” ! 1 1 II III " . . marks.. 34,936,000 ($8,314, -65)
Tho amount of gold and silver held by the public treasury is not known, except as
toalnSlet«r fundotl20,(W,Wn^»mgoIdcoinW3ii ^ t0
8. The amount of ^^oTqoq 310) of which 2,199,924,000 marks ($523,581,912)
Bl.: s. 521), 3“tTd"Sk oUhe Reichsnank .be imperial war fund
[falway. nSSni a, 12^000,000 mark..
($395,035,018)
($103,054,000)
144
REPORT OF THE DIRECTOR OF THE MINT.
There was besides, at the Reichsbank, in accordance with the imperial treasury
loan law of August 4, 1914 (R. Gs. Bl., S. 340), current imperial treasury loan notes to
the amount of 1,317,000,000 marks ($313,446,000), all of which were in circulation at
the end of 1914.
9. There is no premium on gold.
10. A copy of the treasury loan fund law is annexed hereto.
ll! There is no mint report published. , ,
12. (a and b). No estimate upon imports and exports of gold and silver has been
made public since the outbreak of the war.
TREASURY LOAN LAW OF AUGUST 4, 1914.
Art. 2. By authorization contained in sections 9, 17, and 44 of the bank law of
March 14, 1875 (R. Gs. Bl., S. 177), the amount of imperial treasury notes was fixed;
similarly the imperial treasury loan notes were fixed by the above-named law not to
exceed 1,500,000,000 marks ($357,000,000). The German confederacy is to authorize
the necessary issue to supply any deficiency in the imperial treasury loan notes.
Art. 3. The least value of the loan notes issued will be of 100 marks ($23.80), guaran¬
teed for a not longer period than three months, and only exceptionally may be carried
to six months.
GREAT BRITAIN.
Answers to interrogatories , 1913.
1. Gold and silver coined during the calendar year 1913:
i Of this amount £24,666.789 was new coinage, and £2,900,000 was recoinage of native gold coins containing
675,956.99 fine ounces of gold.
* Of tliis amount £941,726 2s. 4d. was new coinage; £607,548 19s. was recoinage of native silver corns,
containing 1,876,203 fine ounces of silver; and £144,271 5s. from Mexican dollars, containing 485,276 nne
ounces of silver. In addition to this amount, Mexican dollars were recoined into colonial coins to the amount
of £73,208 5s. 4d., containing 246,246 fine ounces of silver.
2 (a). Coinage executed at the British mint for other Governments during the
calendar year 1913:
Country.
Denomination.
Bronze.
Silver.
Nickel
bronze.
\ustralia . .
2s. , Is. t and ^ pence
■Tin 000
4*180 000
British Guiana .
Fourpence pieces
JC* Itlj Uw
£500
British Honduras .
Cent pieces
$250
British West Africa .
2s.. Is., 6, 3, 1. 4. and -A*
£667,000
' fii.sio
pence.
Ceylon .
50, 25, and 10 cents .
Rs. 600,000
C yprus Island .
East Africa and Uganda .
T ArcAir /4c \
IS and 9 piasters .
50, 25 ana 10 cents .
£5,000
£175,000
hs. so.ooo
j ersey ^lsiaiia; . . . .
Malta .
Pence and half pence .
4 farthings
£1.000
P 100
Mauritius (island) .
Cent pieces .
Rs. 5,000
Newfoundland .
$4,000
OPERATIONS OF THE MINT SERVICE.
145
2 ( b ), 4, and 10. None.
(For answer to No. 3, see appendix to this report )
+,5'T?'hfJ.etiirDf,(l0 not distinguish the nationalities of foreign gold coin imported into
the Lmted Kingdom. No United States gold coin melted at mints. P
A statement of the value of gold ore and bullion imported into the United Kingdom
from the United States of America in 1913: 8
Description.
Value.
£4,516
($21,977)
Gold bullion:
Unrefined in dust, amalgam, and bars .
£58,154
£6, 0S2
Refined in bars .
Total .
£64,236
($312,605)
(For answer to No. 6, see appendix to this report.)
7 . Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1913:
Classification.
In banks.
In circulation.
Gold coin 1 .
£44,000,000
($214,126,000)
(l)
£7,000,000
($34,065,500)
(*)
£69,000,000
($335,788,500)
6)
21,500,000
($104 629, 750)
Gold bullion .
Silver coin .
Silver bullion.. .
1 No estimate has been made since 1910. * No information available.
8. Government and bank notes outstanding at the end of the year 1913:
No notes are issued by the Government.
Banks of issue: The average weekly circulation for the month ended December 6,
1913, was as follows:
England and Wales:
Bank of England (month ended Dec. 10)
Private banks .
Joint stock banks . .
£27,537,885
($134,013,117)
£71,343
($347,191)
£54,673
($266,066)
Total for England and Wales
Scotland .
Ireland .
Total for United Kingdom . . .
£27,663,901
($134,626,374)
£8,219,606
($40,000, 713)
£9,019,315
($43, S92, 496)
£44, 902, S22
($218,519,583)
Deduct:
Gold coin and bullion held in the Bank of England against notes m cir- ^ J2g 52Q
culation . ($49, 295* 309)
Gold and silver in Scottish and Irish banks of issue held against notes. . . l(|^>^?26)
m . . .
. . ($104,680,035)
Amount of bank notes outstanding, not covered by legal-tender gold and silver coins or ^ 392,489
bullion, at the end of 1913 . ($113,S39,548)
i *e BSEng^^author^ to issue against securities.
9760°— 15 - 10
146
REPORT OF THE DIRECTOR OF THE MINT.
9. Premium on gold during 1913: Highest price, £77/9; lowest price, £77/9; aver¬
age price, £77/9.
11. A copy of the mint report for 1913 forwarded herewith.
12 (a and b). Imports ana exports of gold and silver during the calendar year 1913:
[From Sharps & Wilkins’s Bullion Circular.]
London, December SO, 1914.
Any useful consideration of the movements of gold during the year is difficult to
make, the ordinary operations of commerce having been so entirely deranged bv the
war, and exports and imports of the metal alike have been abnormal.
During the first seven months to July there was no uncommon feature to record
and since then the restrictions on the shipment of bullion, and the moratoria in many
01 rf, ^un/ries of the world have tended to keep supplies from being exchanged.
1 he Hank of England reserve has; however, been immensely augmented, the aver-
age total of about £37,000,000, having now grown to about £88,000,000, £17 500 000
ol winch is set aside as a special reserve against the new treasury notes. This has’not
all been deposited in London, facilities having been given to receive at Ottawa South
Africa, and elsewhere gold coin and bullion to the credit of the London institution
thereby avoiding the risk of transporting large amounts across the sea in time of war’
I ins policy has achieved its object with the least amount of inconvenience to all
concerned .
asToHowir 1 11111)0118 exports of gold and silver during the past 10 years have been
Year.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
1905 .
poo enn non
£31,000,000
42, 600,000
50, 900,000
49,900,000
47,200,000
50, 900,000
£14,400,000
1906 . .
iiooj OOO, 000
KVi ruui
£14,600,000
1907 . .
‘iO, JAJU, UOO
C7 i rm rum
19,300,000
18,900,000
1908 . .
Ol y IOO, OOO
Af\ 1 fin ruin
17,983,000
16,920,000
1909 . .
.Oj IOO, UOO
7nn rum
12,400,000
12,000,000
1910 . .
Ol, /UU, IAaJ
K7 'ton nnn
13,800,000
12,800,000
1911 . .
O / 1 uUUj uuu
A V 7fVi ( u \r\
15,950,000
13,500,000
1912 . .
4o, /UU, IHKJ
ko Act /inn
40, 100, 000
46, 538,000
46,100,000
16,100,000
16,900,000
1913 . .
oij ooo, IHHJ
cn rnn nnn
18,320,000
18,400,000
1914 .
oy, OUU, IMKJ
cn rnn nnn
15,700,000
16,100,000
OU, OUUj 000
30, 600, 000
12,800,000
10,900,000
THE MONETARY TOSITION OF GREAT BRITAIN.
[From the Mining World, etc., London, Jan. 30, 1915.]
the m«°u^y,S0“HfGS' Tito!1?, r* “3“"™? «P«rfv. kind
what may ^ Ml Thi, i»
meeting by Sir Felix Schuster T)ir> aellvered this week at a bank
known ^t tL coming as tii overmans StSVSS on ^I^ly. Had we
would have been made at leisure instead of in ha^to I nmf ,arr?lgem®1f8 meet.
and the bank rate was at one time as lduh as lO ttr °?ce feIt the 6tralD-
additional currency, and this was provided bv tl.o F? CeJn,tA Tlie first necessity was
of the country was aided by the moratorium1 wlnVl? ld J°,8-,.n?tef> whilst the credit
came to an end in the first days of November ’ Anot!*’ estaklished eaily in August,
war was that the stock of gold in the issue tiiat we did not expect
been allowed in July to go as low as £26 non n»nrtn»ent t ie ^a°k of England had
was £69,000,000, arfer having been £ end of December it
been at war nearly five months. It is now £89 o in' nim °°um “1(I th,ls.when we had
the reserve of £21 ,000,000 against the new curro. v 1 o8 sto?k 18 exclusive of
early in August by the agreement of the GovemmAnf°t^v». lelP was afforded
guarantee it agamst any loss on approved hini the Bank of England to
of the declaration of war), and this rou-hUvn^ *1^?^ ,Hfore All?uet 4 (&e date
giving confidence to the entire financial woriT^ri® reht4 to the discount market,
duced easier conditions. worm- Jt liberated fimds which soon pro-
The war was at first finanr^H ^
bills, which were subscribed for tlirr^ *£90, 000,000 by the issue of treasury
Of £350,000,000 was issued “* foU?D
h uic worusof Sir F . Schuster, wasan “unquali-
OPERATIONS OF THE MINT SERVICE.
147
fied success.” No such issue had ever been attempted before, and its success was
the more remarkable, seeing that the stock exchange was closed and securities could
not be freely sold to pay for subscriptions. Moreover, there was no appeal to the
foreign investor. A great part of the loan has been paid up in full.
If we turn from the region of pure finance to the general commerce of the country,
we shall find that this has been well maintained, owing to the admirable mannerin
which our fleet has preserved the command of the sea. Business received a shock
in the first few days after the opening of the war, but has since proceeded upon the
usual lines. There have been complaints that the banks were not assisting trade
as they might have done, and in the House of Commons it was even threatened by
the chancellor of the exchequer that he would ‘‘name” some of them; but there
has been improvement, and Sir F. Schuster is probably right in saying, “All reason¬
able demands that commerce made on the banks have been and are being fully satis¬
fied.” In this gentleman's opinion the trade outlook is hopeful. He does not deny
that many industries have suffered, but others have shown ‘ ‘ remarkable adaptability to
the new order of things. ’ ’ Even the cotton industry has surmounted those formidable
difficulties by which it was beset at the outset, and trade failures have been few.
Agriculture is flourishing, and there has been no lack of employment. Labor, indeed,
has been rather scarce, owing to the patriotic response to the demands of the army.
At the time when the world’s capital is being squandered with the right hand and
with the left Sir F. Schuster states that “the value of lovable capital in Lombard
Street has actually depreciated.” Monetary conditions in London are quite easy.
The stock exchange has reopened under restrictions, and there has been an embargo
placed on new issues of capital, it being essential that the resources oj the country
should be preserved for the successful prosecution of the war. The funds at the com¬
mand of the Government are at present ample, and many will be surprised to hear
from so good an authority as Sir F. Schuster that “fresh loan operations during the
coming months seem hardly probable.” Should money be required, t e
welcome new issues of treasury bills.
148
REPORT OF THE DIRECTOR OF THE MINT.
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OPERATIONS OF THE MINT SERVICE
149
150
REPORT OF THE DIRECTOR OF THE MINT.
OPERATIONS OF THE MINT SERVICE
151
1 52 REPORT OP THE DIRECTOR OF THE MINT.
10, 278
OPERATIONS OF THE MINT SERVICE
154 REPORT OF THE DIRECTOR OF THE MINT.
95, 01
117,470
OPERATIONS OF THE MINT SERVICE.
155
156
REPORT OF THE DIRECTOR OF THE MINT.
GREECE.
Answers to interrogatories , 1914 .
1, 2 (a and 6), 4, 5, 6, 11, and 12 (a and b): Greece has no mint. None.
7. Approximate stock of gold and silver coin in the country on December 31, 1914-
Classification.
In public
treasury.
In national
bank.
In circu¬
lation.
Gold and silver coin .
Francs.
QO 1 eg on*?
(*)
vV
oy, loo, yy/
($7,559,230)
1 No statistics.
8. Government and bank notes outstanding at the end of the year 1914:
Designation.
Notes
outstanding.
Gold
holdings.
Legal- tender
silver holdings.
Government .
Francs.
60,951,915
Francs .
Francs.
Banks of issue .
/ >39,166,927
\ 2 172,946, 117
} 2 191,225,034
Total
60,951,915
($11,763,719)
212,113,044
($40,937,817)
191,225,034
($36,906,431)
1 Gold in the national bank. 2 Gold in banks abroad.
9. Gold is at par.
10. Convention of January 30,
francs ($4,825,000) in bank notes
1914, permitting
under Jaw 3642.
national bank to issue 25,000,000
[Translation.]
ITALY.
Answers to interrogatories , 1915 .
1. No gold coinage.
Amount of silver coined during the calendar year 1914:
Denomination.
New coinage: 2 lire.
Recoinage: 2 lire...
Pieces.
10,352,475
37,567
Value.
Lire.
20,704,950
75, 134
United States
currency.
$3,996,055
14,501
2 lb] 3,1and5UNone.thOU8and 8ilVer mpees were coined *<>r Italian Somaliland.
from bullion bought on The market?01”^0 °U 1914 was a11 made from old coins and
(For reply to No. 6, see appendix’ to this report )
7. Approximate stock of gold and silver mn k. n- • ,
ber 31, 1914: 01U and ^u^10n in the country on Decern-
OPERATIONS OF THE MINT SERVICE,
157
Classification.
Nominal value.
Lire.
United States
currency.
Gold:
In coins —
Decimal .
•
343, 718,015
10,301,081
1,456,857
$66,337,577
1,988,109
281,173
Nondecimal .
In bullion .
Total .
355,475,953
68,606,859
Silver:
In coins—
Decimal, legal fineness 0.900 .
86,717,615
17,640,463
310,890
401,996
1,302, 469
5,161,391
16,736,500
3,404,609
60,002
77,585
251,377
996,149
Decimal, legal fineness 0.835 .
Colony of Eritrea—
In coins—
Decimal legal fineness 0.900 .
Decimal legal fineness 0.835 .
Nondecimal .
Tn bullion .
Total .
111,534,827
21,526,222
Note.— The above figures include for the amount given below the following special funds:
Lire.
Gold, deposited at the Bank of Deposits and Loans to guarantee the Govern¬
ment notes . . ->i . . .
To correspond to Government notes supplied to Bank of Naples .
Existing m the Bank of Italy, belonging to the provincial treasury:
Silver scudi (crowns) at 0.900 . . . . - : - - - - - . -*•*•*-
Eritrean mutilated silver corns and Maria Theresa thalers
143,745,500 ($27,742,882)
12,599,925 ($2,431,786)
189,735,015 ($36,618,858)
84,396.000 ($16,288,428)
7,361,813 ($1,420,830)
Metallic funds in the Bank of Italy for the service of the Colonial Treasury (As-
mara-Tripoli-Bengasi) :
Lire.
Gold .
Silver scudi (crowns), at 0.900 . - - - . * * - - -
Eritrean mutilated silver coins and Maria Theresa thalers.
4,258,794 ($821,947)
252,570 ($48,746)
1,910,136 ($368,656)
Metallic stock in institutions of issue:
Institution.
Gold.
Silver.
Lire.
United States
currency.
Lire.
United States
currency.
1,118,187,883
228,597,690
50,021,191
$215,810,261
44,119,354
9,654,669
107,889,846
16,781,192
5,937,396
$2,082,274
3,238,770
1,145,917
1,396,809,764
269,584,284
130,608,434
6,466,961
8. Government and bank notes outstanding at the end of the year 1914:
Notes outstanding.
Gold holdings.
Designation. #
Lire.
United States
currency.
Lire.
United States
currency.
Government notes . . .
Bank of . . .
Bank of Sicily .
657,241,875
2,102,448,450
628,758,600
144,807,900
$120,847,682
417,352, 551
121,350,410
27,947,925
156,345,745
1,343,733,364
319, 531, 551
75,380,485
. $30,174,729
259,340,539
61,669,589
14,548,434
158
REPORT OF THE DIRECTOR OF THE MINT,
9. Premium on gold during 1914 (on Paris Bourse) : Highest premium, 108.0000 lire;
lowest premium, 102.0147 lire; average premium, 100.1500 lire.
10. Laws passed during 1914: Law of July 9, 1914, No. 659, providing for the paper
and metallic circulation of the country, increase in the Government notes from
500,000,000 lire to 525,000,000 lire, guaranteed by gold value, and instituting the
new pure-nickel coins of 10 centesimi. Law decrees of August 4, 1914, No. 791;
August 13, 1914* No. 825; and November 23, 1914, No. 1284, to increase to double
the regular limited amount of the issues of institutions of issue. Law decree of
August 18, 1914, No. 824, authorizing the issue of 250,000,000 lire of the treasury
notes (bonds) of 1 and 2 lire. Law decree of September 19, 1914, No. 1017, to increase
the limit of the issue of Government notes. Law of December 20, 1914, No. 1390,
prolonging to December 31, 1915, the lawful currency of bank notes.
11. A copy of the mint report will be forwarded as soon as published. The state¬
ment regarding mines was furnished directly from the administration of mines in
reply to No. 6. It has not yet been published.
12. Imports and exports of gold and silver during the calendar year 1914:
Gold.
Silver.
Country.
Imports.
Exports.
Imports.
Exports.
Coin.
Ore.
Coin.
Ore.
Coin.
Ore.
Coin.
Ore.
Albania .
Kilos.
Kilos.
Kilos.
15
943
Kilos.
Kilos.
Kilos.
Kilos.
275
Kilos.
Austria-Hungary .
120
19
531
6,816
8
34,345
1.908
24,823
4,002
Belgium .
240
4,005
168
8
France . .
3,239
M,022
2,709
909
20
196
487
33
5
41
198
4,667
4,396
168
332
439
12
5
9
Germany .
Great Britain .
Malta .
79
14
21
2, 711
Netherlands .
10
Spain .
Switzerland .
33
70
14
30
96
1,924
1,336
1,465
Egvpt .
European Turkey. . . .
1
13
1.928
Tripoli and Cyrene. . .
Argentina. . . .’ .
100
50
118
30
5,001
2(0
Brazil .
2
United States .
111
14,030
Total .
4,782
3,673
1,751
4,961
13,032
83,854
7,983
6,464
By railway .
31
478
4,273
2,682
19
4,961
6,7W
5,274
964
63,214
14,030
6,610
5,276
2,097
610
5,501
By navigation com¬
pany .
By parcel post .
991
1,732
963
For credit institutions
; 3,718
157
1,257
*7,469
45, 192
7,580
45
1 In March there were consumed 17 kilograms procured from Great Britain which however were
wrongfully assigned to Germany. ’ *
* Of which 31,030 kilograms are in the royal mint.
MONTENEGRO.
Answers to interrogatories , 1914,
1, 2 (a and b), 3, 4, 5, 6, 7, 10, 11, and 12 (a and b). No replies.
8. Amount of Government notes outstanding at the end of the year 1914 * 5 000 000
(perpers) ($965,000).
9. Actual currency of the country: 20 francs =20 perpers
159
operations of the mint service.
NETHERLANDS.
Juirfn U> inlaTC&zSoriet. 1j14-
L Gold aad alrer coinage daring the calendar year 1 ri4.
Total silver coinage, 21 .->45.000 florins ($8,661,080). 30.775.277 florins ($8.351.661 .351
of vbich was ncr coinage and 759.723 f -rin= $309,428.65 was recoinage oi domestic
coins 40SJ90 florins of the face value of 425.988 florins and colonial coins. 361.403
florins of the face value of 373.450 florins.
2 '* and b . 4. 5. and 9. None.
(For reply to So. 3. see appendix to this report. !
6. Xo domestic production: prodnet of colonies will be furnished later.
7. Approximate stock of gokl and alver coin and bullion in the countrv on Decem¬
ber 31. 1914:
—
In public
treasuries.
In the Nether¬
lands Bank.
Circular km.
OAl-wa .
(MUiBkB .
Fiona*
11. $15
<*4-7«)
Florin*.
(S27.5f3.7vi)
117,621.000
^59-343.f42)
1-9®. 500
(1725.007
7S5.000
($31o, 570)
Florins.
I Lknonu
SNreM .
^ferUOioB .
355. €65
$105,553,
W. 772. 500
($34,480,545)
Total. . .
27*. sn
$111302
21%,7>.S«0
♦*7.93t
S5.7T2.o00
'S34.4S0.5to)
*. Government and bank notes outstanding at the end of the vear 1914-
Notes OQt-
sianding.
Gold boldines.
Lerul-^ender
silver holdings.
Gwr-mui eoi&k ri “ZQrtrUmm”) .
Florin*.
11, <79 .SSL 30
Fiorrif.
Florin*.
433.6TS.<W)-O0
2K.I37.VO
US®. 500
TMji. ...
o05.14S.BLSa
215.137.S80
(»*• ->7,42»
1.9® 500
$725,007)
160
REPORT OF THE DIRECTOR OF THE MINT.
10. Laws passed during 1914 affecting the currency or banking: Royal decree of
July 31 1914, sanctioned by the law of August 3, 1914, prohibiting, for the time being,
the exports of <*old coin and gold metal without special consent of the Government.
Royal decree of July 31, 1914, lowering for the time of the extraordinary circum¬
stances from 50 to 20 per cent the proportion in which the outstanding notes and the
aggregate credit balances of the accounts current of the Netherlands Bank must be
covered by precious metal and coin, legal tender up to any amount. On June 19,
1915, the said proportion was about 62 per cent.
Law of August 3, 1914, that during the extraordinary circumstances the Netherlands
Bank may be exempted by royal decree from the obligation to redeem its notes against
coins le^al tender up to any amount. Until now this exemption has not been granted.
On June 19, 1915, the bank had at its disposal florins 63,540,410 in gold coins, florins
268,373,553 in gold metal, and florins 2,567,945 in silver coins against florins 482,502,745
notes outstanding and florins 54,211,660 credit balances.
Law of August 6, 1914, providing for the issue of Government notes (called Zilver-
tons”) up to a maximum amount of florins 25,000,000 in denominations of florins 5,
florins 2.50, and florin 1. These notes are legal tender up to any amount and must
be withdrawn from circulation as soon as the silver coins necessary for their redemp¬
tion can be disposed of. The notes of florins 5 and florin 1 are withdrawn from cir¬
culation. On June 19, 1915, florins 5,565,117.50 (notes of florins 2.50) were in circu¬
it. A copy of the report on the operations of the mint at Utrecht will be sent as
soon as it is published. , - ....
12 (a and b ). Imports and exports of gold and silver during the calendar year 1914:
Classification.
Gold.
Classification.
Silver.
Imports.
Exports.
Imports.
Exports.
Gold coin .
Gold bullion .
Gold ore .
Florins.
44,019,542
7,804,490
8,710
Florins.
248,010
8,010,020
Silver coin .
Silver bullion. .
Silver ore .
Florins.
1,356,194
8,803,074
69,714
Florins.
3,0S5,S96
10.700
144,230
Total .
52,432,748
($21,077,965)
8,258,030
($3,319,728)
Total .
10,228,982
($4,112,051)
3.240,820
($1,302,812)
[Translation.]
RUSSIA.
Answers to interrogatories , 19 IS.
1. In the year 1913 no gold was coined in Russia. Silver was coined in 1913 as
follows:
Denomination.
Pieces.
Value.
1 rnKlA fat O QOfh 1 .
1,522,125
6,420,017
4,250,017
5,300,017
7,250,017
1,300,017
Rubles.
1,522,125.00
1 rUUlv (dl \j.v\J\J ) . . .
cn Irnnpph Q ( fit 0 Oftft ) . . . . - . . . . .
3,210,00S.50
DU KU[JvtKo V/.UW/ . . .
on Tr nnonh q / of O 500 ) . . . . . . .
850,003.40
ZU KvUtUvo yj.uxnjj . . * .
795.002.55
725,001.70
5 kopecks (at 0.500) .
65,000.85
Total. . . - . - . . . . .
26,042.210
7,107,142.00
($3,091,078.13)
i Of which 1,472,019 1-ruble pieces were of a special type, coined in commemoration of the centennial of
the “House of Romanoff. ” (Imperial decree of Feb. 15, 1913.)
For the above silver coinage there were remelted the following: Coins of the fine-
nessof 0.900, 240,368.60 rubles ($123,789.83); coins of the fineness of 0.500, 3,130,957.40
rubles ($1,612,443.06).
2 (a and b ), 5, 9, 10, and 11. None.
(For answer to No. 3, see appendix to this report.)
OPERATIONS OF THE MINT SERVICE.
161
4. In 1913 there were remitted to the mint to enter into the coinage the following:
Objects of art — In fine gold, 338.7 ounces of the value of 13,607.95 rubles ($7,008.09);
in fine silver, 7,821.1 ounces of the value of 13,517.91 rubles ($6,961.72).
7. Approximate stock of gold and silver in Russia: On January 1, 1914, the reserves
in the State bank and treasuries amounted to 160,720,078.24 rubles; in vaults of the
State bank, 1,343,372,322.78 rubles; total, 1,504,092,401.02 rubles ($774,607,586.53), of
which 656,800,000 rubles ($338,252,000) were Russian gold coins, 7,600,000 rubles
($3,914,000) were Finlandish gold coins, and 128,700,000 rubles ($66,280,500), foreign
gold coins. „ . . J T ...
Gold at the mint, 23,635,762.35 rubles ($12,172,417.61); estimated gold in circu¬
lation, 494,200,000 rubles ($254,513,000). , , . . ,
Besides the effective gold stock found in Russia the State bank carries, in accord¬
ance with its balance, the following foreign sums:
Balances accredited to its current accounts .
Difference between the amount of drafts and foreign cash balances in their possession,
4,417,243.64 rubles, and drafts delivered by them payable to foreign countries .
163,089,169.26
($83,990,992.17)
4,370,792.20
($2,250,957.98)
Total
167, 459,961.46
($86,241,880. 15)
Stock of silver in Russia on Jan. 1, 1914:
Balance in the State Bank-
Silver coins (at 0.900) .
Subsidiary silver coins (at 0.500) -
Copper coins .
At the mint, silver and copper coins
39,979,000
($20,589,185)
16,477,000
($8,485,655)
1,376,000
($708, 640)
2,842,000
($1,463,630)
In circulation (estimated) —
Silver coins (at 0.900) .
Silver coins (at 0.500) . .
8. On Jan. 1, 1914, the amount of credit notes in circulation was
On the same date the holdings in the State bank was—
Russian notes . .
Foreign notes . .
Rubles.
1,527,800,000
167,400,000
122,700,000
($63,190,500)
103,100,000
($53,096,500)
1,664,700,000
($857,320,500)
1,695,200,000
($873,028,000)
Total
3,359,900,000
($1,730,348,500)
According to the terms of the law the issuing power of the bank on January 1, 1914,
was 330,500,000 rubles ($170,207,500). . . ,. .
The Russian credit notes are guaranteed exclusively by gold, according to law.
12. Imports and exports of gold during the calendar year 1913:
GOLD.1
Country.
Imports.
Exports.
Bullion.
Coin.
Bullion.
Coin.
Russian.
Foreign.
Foreign.
Poods. Pounds.
572 34
110 38
22 31
22 28
. 5
Poods. Pounds.
Poods. Pounds.
Poods. Pounds.
243 35
1 22
Poods. Pounds .
Germany - - : .
Great uritam
157 11
67 10
a .
4 21
J/Vusiria.-xiu-iA^cn j -*-***
Persia . . . .
2 12
5 29
1 9
1 111 hoj ........
A fcrhiVTIlStan. ..........
Mongolia .
4 32
Total .
734 8
5 29
5 37
469 39
2 12
i The gold exported from Russia is the gold belonging to individuals and has not been thoroughly refined.
9760°— 15 - 11
162
REPORT OF THE DIRECTOR OF THE MINT.
12 (6). Imports and exports of silver during the calendar year 1913:
SILVER.
Country.
Germany . , M
Great Britain .
China .
France .
Austria-
Hungary ...
Persia .
Turkey .
Afghanistan . .
Imports.
Exports.
Bullion.
Coin.
Bullion.
Coin.
Rus¬
sian.
Foreign.
Russian.
foreign.
Poods. Pounds.
4,418 2$
5,536 39
159 8
476 25
1 32
Poods.
274
Poods. Pounds.
1 20
Poods. Pounds.
. 7 . 25
377 30
Poods. Pounds.
Poods. Pounds.
73 31
........
i,950 . 7*
................
. 3 . 4’
6 1
635 . 36
750 15
377 19
62 i7
10,593 12
274
2,702 2
762 34
9 5
772 4
Note.— 1 pood = 40 pounds (or 16.3S kilograms).
ofthe-HouseoT RomMo»™(ilm£1^d^“^f“FSmiTiq0mU(,l °f *he <en,™“ial
?®Te Jssrassai'a sffass air $• sHr^HF
c«ioD of the weight of lie moti contomed. ch<umeIed “•5cn(,UoD bearing the indi-
NEW NOTE ISSUE OP RUSSIAN GOVERNMENT BANK.
Consul General John H. Snodgrass, Moscow, Apr. a, in Daily Consular and Trade Reports, June 2,
could issue* ba^notes 1 withom°a roiwTOnd'n rnm1e?lt,bailk “ limited by law. It
ordinarily bank notes hadtobe <?eP08J* for onl/ $155,000,000;
the war 'the coZcU oU
Aueust 9, 1914 and in iStwi’ V wmcn received Imperial sanction
issued by the Government bank withmi^CJ^M e amount of bank notes that could be
Alawh^been^S^^iZ^V^JfJ^V^^ to $773,000,000.
amount of bank notes that may be issued is inraased bv S^Oftft nm»15,T?-Mr^icl1
as a temporary measure. ^reasea dj ?olo,000,000. This is meant
Of bank n^tes'Sat^r^uiS1 bv befdeS *• aniou.nt
the above sum. the amount of gold deposits will If,' iH issues notes lor
total of bank notes issued. I & will be equal to 40$ per cent of the sum
MONETARY CIRCULATION IN RUSSIA.
[From L’ Economists Europe, Paris, Aug. 20, »15.J
mlZ“h.0i *•**>■ »«• «»M into Rusda. »
money was abruptly halted, and «rold remain * i^outfac 41 j“.? Ble circulation of metallic
During the first six months of 1915 the n*erve hands of the public,
by 20,000.000 ruble* ($10,300,0001 whifeZf?^ th® B?nk ot Russia increased only
amounted to nearly 400,000.000 ruble* <$*’30 oort^Z? *’ 191°; the circulation of gold
table: D 63 ^b*900>000). as may be seen by the following
OPERATIONS OF THE MINT SERVICE,
163
Circulation of gold in Russia.
Date,
Value.
Rubles.
United States
currency.
Tan. 1, 1910 .
580,900,000
641, 700,000
665,800,000
628,700,000
494,200,000
459,800,000
$299,163,500
330.475.500
342, 8S7, 000
323.780.500
254,513,000
236,797,000
Jan. 1, 1911 .
Jan. 1, 1912 .
Jan. 1, 1913 .
Jan. 1, 1914 .
Jan 1, 1915 .
On January 1, 1915, the gold in circulation in Russia was composed as follows:
Value.
Denomination.
Rubles.
United States
currency.
21,100,000
$10,866,500
223,200,000
114,948,000
10,300,000
5,304,500
205,200,000
105,678,000
SERVIA.
Answers to interrogatories, 1914 •
1. Silver coinage dining the calendar year 1914:
Denomination.
Pieces.
Value.
New coinage:
2,500,000
6,500,000
7,000,000
Dinars .
5,000,000
5,500,000
3,500,000
16,000,000
15,000,000
($2,895,000)
1
<F' ^oTS^UveVS'ii the country on December 31, 1914:
Classification.
In public
treasuries.
In circula¬
tion.
. 0) .
Dinars.
(>)
24,000.000
($4,632,000)
Silver coin .
Could not be ascertained.
i Only foreign gold coin in circulation.
Designation.
Banks of issue. . . -
Notes out¬
standing.
Gold hold¬
ings.
Dinars.
167,261,000
($32,281,373)
Dinars.
3.665,000
($707,3*5)
Dinars.
163.596,000
($31,574,028)
164
REPORT OF THE DIRECTOR OF THE MINT.
9. Premium on gold as compared with the actual cnrreucv of the country- Dnr
cent. Premium during 1914: Highest premium, 40 per ceiit; lowest premium 0 in
percent; average premium, 20 per cent. ’ *
Law passed during 1914 affecting the currency: Copy herewith.
12 (a and 6). Exports of gold and silver during the calendar year:
Country.
Gold ore.
Silver ore.
Austria-Hungary .
Dinars.
finn 0Q7
Dinars.
wifi
($115,990)
34,425
($6,644)
Law relative to the coinage of silver money:
Article 1.
The minister of finance is authorized to coin and put into circulation 15 000 000
silver dinars, as follows: 3,500,000 silver dinars equal to 7,000,000 coins of nominal
value of 0.50 paras; 6,500,000 silver dinars coins of nominal value of 1 dinar; 5,000 000
silver dinars equal to 2,500,000 coins of nominal value of 2. dinars.
Article 2.
This silver money will be coined strictly according to the disposition of the follow¬
ing laws: The coinage of national money from December 10, 1878; exchange of silver
money coined on the basis of the law of November 30, 1873; coinage of small nickel
and bronze change of February 26, 1904; and international money convention of De-
cember II, 1865, with the exception that the year of coinage will be designated as
1915.
Article 3.
ctmWfc will be paid from benefits of the coinage and the difference
will be left in the budget as extraordinary state revenue.
Article 4.
This law will have effect on the signature of same by the king.
December 20, 1914.
Kragujevatz.
Alexander m. p.
{Translation.]
SWITZERLAND.
Answers to interrogatories , 1914.
1. Gold and silver coinage during the year 1914:
Denomination.
Tioces.
Value.
Francs.
United
States cur¬
rency.
Gold (new coinage):
20 francs, for account of the Swiss Confederation
100,000
600,000
200,000
2,000,000
12,000,000
2,000,000
$386,000
2,316,000
386,000
20 francs, for account of the Swiss National Bank
10 francs, for account of the Swiss Confederation
Total .
900,000
16, 000, 000
3. OSS, 000
Silver (new coinage):
2 francs .
1 franc . .
1,000,000
4,200 000
2,000,000
2,000,000
4,200,000
1,01X1,000
386,000
810,600
193.000
50 centimes . .
Total .
7,200,000
7,200,000
1,389,600
OPERATIONS OF THE MINT SERVICE.
165
2 (a and b ) and 4. None.
(For reply to No. 3, see appendix to this report.)
5. Switzerland abstains, as a rule, from remelting coins of other countries.
6. At the present time there are no mines of precious metals in development in
Switzerland.
7. Approximate stock of gold and silver coin and bullion in the country on December
31, 1915:
Classification.
In Swiss National Bank.
In circulation.
Francs.
Equivalent in
United States
currency.
Gold coin . . . .
171,144,383. 14
66,791,478.68
24,913,230.00
$33,030,865. 95
12,890,755.38
4,808,253.39
<>>
flrtld bnllioTi _ _ ....
Silver coin (5-franc pieces) .
0)
Trktol .
262,849,091.82
50,729,874.72
* iue Vrtu uavrng uiuawi a - * - - - •> - - ' - ’
question, even by an approximate estimation.
Note —We fail to have the information for replying to all the points under this
interrogatory. We can only indicate the amount of gold coin and bullion and silver
coin found in the coffers of the Swiss National Bank on December 31, 1914.
8. Bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold holdings.
Legal-tender
silver holdings.
«v r 1 m 4 lAnol I) a yi Vr
Francs.
452,043,945
3,845,050
Francs .
Francs .
Total .
455,888,995
($87,986,576)
237,935,862
($45,921,621)
24,913,230
($4,808,253)
y . rftJHLlluii uu guivi vj.u-i.xiig xoix. “ — o - jr - ' - >
lowest premium, 99.60; average premium, 100.39. . , in1.
10 and 11. Report of the financial department and custom duties for the year 1914.
Federal decree of August 3, 1914, authorizing the emission of bank notes of 5 francs.
Federal decree of July 30, 1914, concerning the emission of 20-franc bank notes
and the legal value of notes of the Swiss National Bank. _ , . . f , _ _
Federal decree of August 14, 1914, concerning the emission as bank notes of tempo¬
rary treasury notes of 5, 10, and 20 francs. . . . , , , . . An
Federal decree of September 1, 1914, concerning the emission of bank notes at 40
francs by the Swiss National Bank , 1014.
12. Imports and exports of gold during the calendar year 1914.
Country.
Imports.
Exports.
Coin.
Bullion.
Value.
Coin.
Bullion.
Value.
Germany . .
Francs.
12,712,325
24,785
2,014,590
130,660
210
1,561,350
5,000
Kilograms.
564
3,794
3,844
41
Francs.
1,948,620
13,108,270
13,281,020
141,655
Francs.
1,798,549
33,245
1,210,680
155,895
7,879
378, 195
Kilograms.
298
Francs.
1,028,652
Austria-Hungary .
France .
Italy .
366
71
1,276,804
244,094
2,842
9,819, iio
Great Britain .
Denmark .
2,850
.
.
10,235
16,455
1,000
5,000
1,550
. - .
Turkey (European) .
Egypt .
. .
United States.. .
5
. i,063
i7,275
'"'3, '672, 665
. 5*953’
.
Total .
16, 486, 760
($3,181,944.68)
12, 153
41,988,615
($8,103,802.70)
3,593,846
($693,612.28)
735
2,549,550
($492,063.15)
166
REPORT OF THE DIRECTOR OF THE MINT,
12 ( b ). Imports and exports of silver during the calendar year 1914:
Country.
Imports.
Exports.
Coin.
Bullion.
Value.
Coin.
Bullion.
Value.
Germany .
Austria-Hungary _
France
Francs.
6,173,031
547, 432
7,607,270
1,306,355
Kilograms.
19,309
1,933
27,281
1,579
Francs.
1,872,973
187,501
2,646,257
153,163
Francs.
850,332
15,039
2,223,661
1,424,575
800
1,219
1,023
Kilograms.
5,251
Francs.
524,334
Italy .
Belgium .
3,098
300,979
Netherlands .
Great Britain .
Norway .
65,665
421
2,476
9,990
’969,' mo’
............
.
Serbia .
Roumania .
Brazil .
Remainder of South
America .
655
.
.
366'
. i3'
2
220
. i,*238
200
Total .
15,703,305
($14,610,738.06)
60,092
5,828,924
($1,124,982.33)
4,516,949
($871,771.16)
8,366
826,971
($159,605.40)
ASIA.
BRITISH INDIA.
Answers to interrogatories, 1914.
1. Amount of silver coined during the calendar year 1914:
Denomination.
Pieces.
Value.
Rupees.
United
States
currency.
Whole rupees .
Half rupees . .
48,495,035
3,558,308
9,981,050
12,092,687
48,495,035
1,779, 154
2,495,262
1,511,585
$15,712,391
576,446
808,465
489,754
IVl 1 LI JJCVO # «
Eighth rupees . .
Total .
74,127,080
54,281,036
17,587,056
ruSIih?S7b935 945?^i>^3a79 7pees ^’651>1.11) new coinage, and 24,493,658
t was recomage from native coins.
($7 53V962 44!UeamlCOfho^ted the calendar year 1914 is 23,252,970.50 rupees
7333,257 9 ounc^ d h °f metal m fine ounces obtained therefrom is
2 (a). Coinage executed for other governments during 1914:
• Denomination.
Pieces.
Value.
Rupees. j
United
States
currency.
Ceylon Government silver:
50 cents .
25 cents . .
200,000
400,000
2,000,000
100,000
100,000
200,000
$32,400
32, 400
64,800
10 cents . . .
.
Total .
Straits Settlements (silver): 20 cents .
2,600,000
191,802
400,000
118,396
129,600
38,360
OPERATIONS of the mint service.
167
AsssaessssBassies
"n5S “no to? “ilCin Mia, ®4 the Indian minta do not receive old bullion
from the public for coinage. f countries during the calendar year
the Province of Burma at 236,764 rupees ($76,712).
assssa ■>»*» - «-
ber 31, 1914 :
Location.
In public treasuries .
In mints .
In presidency banks .
Paper-currency reserve.. .
Gold-standard reserve —
Gold coin.
Silver coin.
Silver 1
lullion.
Pounds
sterling.
United
States
currency.
Rupees.
United
States
currency.
Rupees.
United
States
currency.
28,868
547,052
196,115
. 5,678,967
. 3,887,000
$140,486
2,662,229
954,394
27,636,693
18,916,085
49, 222, 925
195,000
8,619, 402
298, 725, 796
$25,948,228
63,180
2,792,686
96,787,158
761,086
$246,592
Note. — The Government oi inuia uw»
silver coins in circulation in India.
8. Govmment and bank notes outstanding at the end of the year 1914:
Notes outstanding.
Gold holdings.
Legal-tender silver holdings
(coin and bullion).
Designation.
Rupees.
United
States
currency.
Rupees.
United
States
currency.
Rupees.
United
States
currency.
Government....
608,327,990
$197,098,269
169,602,248
$54,951,128
298,725,796-6
$96,787,158
The amount of Government notes outstanding wiaeeuu U1 qkq qoo\
hv crold or silver coin and bullion was 139,999,94o-10 rupees only ($45,359,982).
y9S ptmium on gold during 1914: The currency in largest use is the silver rupee.
A considerable quantity of gold is also passed into circulation in some parts of the
twin the form of sovereigns. These circulate at their legal tender rate of rs 15/-
SSftol foreign . About the begi lining of August, however, owing to special war
Sitfons all' issues of gold from Government treasuries and currency offices were
stunned and shortly after a premium appeared on gold sovereigns. Q1
L*The last day when the soverei,n was quoted at rs. 15/- was on August 6, 1914.
A?e^ehi|h^pSEK^h^A^?n76ctober 7, 1914, when dragon sovereigns
W' IP The rate o”thelast day of the year 1914 was rs. 15-1-6.
10 No laws were passed during 1914 affecting the currency.
11 A copy of the imnt report for the year 1913-14 is forwarded herewith.
168
REPORT OF THE DIRECTOR OF THE MINT,
12. Imports and exports of gold during the calendar year 1914:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
United Kingdom:
Private .
Rupees.
10, 878, 041
Rupees.
89,558,068
Rupees.
1,413
Rupees.
23,546,300
Government .
Gibraltar .
8,250
114,000
4,214,298
327,695
30
926,835
315, 764
180,074
Malta and Gozo .
Aden and dependencies .
263,589
Bahrein Islands .
687,496
2,281,972
3,675,0.58
209
135
18,653
Ceylon .
97
156,760
814,824
653
4,704
9,019
688
Straits Settlements .
Natal..: . .
Mauritius and dependencies .
Australia:
West Australia .
V ictoria
150,000
3,307,010
New South Wales .
60,000
75,000
143,133
75
30
Queensland .
France .
Ttalv
45
600
Austria-Hungary .
120,321
1,964
6,331,854
2,715
71,310
81, 485
13,500
35, 790
307,200
Turkey (European) .
Turkey (Asiatic):
Ports in the Red Sea —
Private .
2,190
Government .
Ports in Persian Gulf .
3,375
234,600
Maskat Territory and Trucial Oman . . .
5,000
Other native States in Arabia. . . .
Persia .
Netherlands India
2,680
271,195
' VVUVi IUU1VI-J lllvdu • m
China (exclusive of Hongkong and Macao) . . .
6,984,878
12,354
Egypt:
Private .
30,241,007
4,500,000
Government .
Total private .
61,640,384
2,715
101,415,303
7,174,856
8,070,000
23,560,741
Total Government .
Grand Total .
61,643,099
($19,972,364)
101,415,303
($32,858,558)
15,244,856
($4,939,333)
23,560, 741
($7,633,680)
12 (6). Imports and exports of silver during the calendar year 1914:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
United Kingdom:
Private .
Rupees.
71 781
Rupees.
82,993,920
209, 155
47,267
Rupees.
Rupees.
40,913
Government .
U, tCt't
2, 749
O AK£ AAA
Aden and dependencies:
Private .
Government .
678,304
2,096
3,581,593
in iai
OtX), 000
5,600
500,000
1,679,010
Bahrein Islands .
Ceylon:
Private .
119,752
2,974
Government .
1U, ooo
2,096
3,350,241
100,000
972,016
25,000
{straits Settlements .
Federated Malay States .
1,772
75
2,874
Natal .
9
90i Ann
i, 425, 000
90
i, 434
Mauritius and dependencies:
Private .
201
A AAA AAA
Government .
UlH/
.
.
Zanzibar and Pemba . .
East African Protectorate .
150,000
6,427
4,000,000
2,250
Australia:
South Australia .
Victoria . ;; .
Now South Wales . .
6,003,827
"i, ’297,387'
1,750,000
. i3*
. 90
OPERATIONS OF THE MINT SERVICE.
169
Country.
Fiji Islands.
Russia . .
Sweden _
France.
Austria-Hungary .
Turkey (Asiatic):
Ports in the Red Sea —
Private .
Government .
Ports in the Levant and Black Sea .
Ports in the Persian Gulf-
Private .
Government .
Mask at Territory and Trucial Oman .
Other native States in Arabia .
Fersia:
Private .
Government .
Borneo (Dutch) .
Siam . . . v- *
China (exclusive of Hongkong and Macao) .
Egypt . , .
Portuguese East Africa . - —
French Somaliland .
Madagascar .
United States of America:
Ports in the Atlantic .
Ports in the Pacific .
Imports.
Coin.
Rupees.
534
536,744
608
1,291
606,908
1,483,649
288,938
1,717,377
Total private .
Total Government.
Grand total .
12
2,434
46,000
6,653
3
6
8
9,518,534
2,704
9,521,238
($3,084,881)
Bullion.
Rupees.
45
5,450,586
3,000
375,000
405,000
98,120,957
209,155
98,330,112
($31,858,956)
Exports.
Coin.
Rupees.
30,500
8,200
461,000
141,950
8,000
200,000
*"*2,950
8,623,487
6,671,200
15,294,687
($4,955,479)
Bullion.
Rupees.
680
27,877
119,971
119,971
($38,871)
BRITISH NORTH BORNEO.
Answers to interrogatories, 1914 •
1, 2 (a and b), 3, 4, 5, 6, 10, and 11. . None. No mint
7 Approximate stock of silver com in the country on December 31, 1914, 156,000
Straits Settlements dollars ($31,111.10 United States currency).
8 Government notes outstanding at the end of the year 1914, 1,035,000 Straits Set-
tlprnpnts dollars ($575,000 United States currency).
9 British North Borneo can not be said to have a systeni of currency. The Govern¬
ment is authorTzed to issue notes based on the value of the Singapore dollar -(silver)
whfrh is worth $0 55+ in United States currency (gold); that is, $5 United States
mirrencv «e worth $9 Singapore, and that value for exchange is in vogue in British
w£J Borneo The Singapore Government issues various silver corns,, including the
dolUr and fractions thereof, but the British West Borneo Government issues no coins
eXxrPi^efJl°nTimece=0.0277+ United States currency; 2+cent piece=0.0138+
TT^iCS ^2 currPeSy; l cent piece=0.0055+ United States currency.
U t+p1 er-^cent piece=0.0055+ United States currency; +cent piece=0.0027+
U ve/ coiSfimpor ts during 1914: Straits dollars, 50, 000=$27, 777.77 United
StaScurrency from Singapore, Straits Settlements.
170
REPORT OF THE DIRECTOR OF THE MINT.
CEYLON (COLOMBO).
Answers to interrogatories, 1914.
1> 2 (at 4, 5, 6, 10, and 11. None. No mint in Ceylon.
2(6). Coinage (silver) executed at Calcutta mint:
Denomination.
Value.
50 cents, 25 cents, and 10 cents (Ceylon subsidiary silver coins)
Rupee s.
400 OOO
“v/v/ • IaW
($137,600)
7. Approximate stock of gold and silver coin in the country on December 31, 1914:
Classification.
In public
treasuries.
In circula¬
tion.
Gold coin .
1 X* 007 4QQ
Rupees.
O /* 1 IQ
Silver coin .
.100
(11,106,827)
Rupees.
3 8,269,620
($2,679,357)
2 0, llcSf (WO
($1,982,263)
' Including £226,000 ($1,099,829) held on behalf of currency notes reserve,
reserve andTn the K&rtesfidiary C°inS’ exclusive of subsidiary silver coins belonging to currency
3 Including 8,078,200 rupee^ ($2,617,337) held on behalf of currency notes reserve.
8. Government notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold
holdings.
Legal-tender
silver
holdings.
Government .
Rupees.
9/1 A 90 er/vi
Rupees.
9,420, 836
($3,062,351)
Rupees.
5,740,464
($1,859,910)
xOj ozy, oU( )
($8,627,958)
„ 9_There is no premium on gold The actual currency of the country is the Indian
rupee. (A sovereign is fixed at 15 rupees by a Government proclamation.)
12 (a and 6). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Imports.
Exports.
Coin.
Coin.
Bullion.
Coin.
Bullion.
United Kingdom .
British India .
Rupees.
2,250,000
3,630
10,320 .
Rupees.
5,657
2,350,000
Rupees.
491,388
698
iiuoi'
Rupees.
Rupees.
France .
3,000
Germany .
Mauritius .
Straits Settlements .
India . ;;;;;;
i ‘666*666'
7,200
. ii,*666
i otai . .
2,263,950
($734,425) (
2,355,657
$763,233)
511,187
($185,064)
1,010,200
($327,305)
11,000
($3,564)
OPERATIONS OF THE MINT SERVICE.
171
CHINA.
HONGKONG.
Answers to interrogatories , 1914.
1, 2 (a), 4, 5, 6, 10, 11, and 12 (a): None
2 (6). British dollars coined at Bombay, British India. ,
7. Approximate stock of gold and silver m the country on December 31, 1914. ihe
Hongkong colonial treasurer reports for 1914 as follows:
Approximate amount of Hongkong silver and copper subsidiary coins put into circulation. $43, 999, 830
Amount withdrawn and sold as bullion . . * _ _
$31 392 371
Approximate balance in circulation . * . ” . . . . . $29 237, 270. 40
Silver coin and bullion (Hongkong currency) . (£11,188/10/0)
„ , , . . $605,
Gold coins (Hongkong value) . ’\\\\\\\\\\\\* . £549 ($2,671. 71)
Gold, silver, notes.
Old Mexican .
Mexican dollars .
British dollars .
Canton subsidiary coins .
American gold and notes .
American gold coins .
Gold marks .
Gold guilders (florins) .
Gold and notes (francs) .
Gold notes (yen) .
Silver chopped yens .
Silver Philippine pesos .
$92,000
$31,262
$74, 463
121,850
$271
$3,090
208
10
2,030
2,765.94
1,087
2,050
8. Bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Specie in
reserve.
i$30,862,727
* $23, 300, 000
— “ ,WK” “
12 (f». The date-one. hetw^a
Aief^r^forbfta“rt8ofSUverintoSongkong,althoughaam^por^l^
been continued to India.
AMOY DISTRICT.
Answers to interrogatories, 1914-
, o/ \ A in and 11 None. There is no mint in this consular district. The mint
1,2 (a), 4, 10, • , wv.ipVi A mov is only a part, is at Foochow.
f°^(h6e) cSeforthe’Fikien Province is under the control of the finance bureau
at 3^0N? statistics for amount of gold and silver used in industrial arts, but amount
eXcrennited™te\^gol^cSnTm^K>rted during 1914: Customs statistics showed nil.
{Jo mines in this consular district.
. . rtf ailxrAT O A1 T1 If
Classification.
In public
treasuries.1 2 * 4
In banks.
In cir¬
culation.
Nil.
Nil.
/ 2 $25, 000
\ 8 249,000
Nil.
} <•>
Gold coin . * .
Silver coin .
1 No public treasuries in this consular district.
2 Carolius dollars held to cover note circulation. . . .. . _
8 Japanese (Formosa) silver yen to partially cover Taiwan bank-note circulation.
4 Unknown.
172 REPORT OP THE DIRECTOR OP THE MINT.
8. Bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold
holdings.
Legal-tender
silver
holdings.
Haikwan and Shanghai bank .
$25,000
378,671
Nil.
Nil.
$25,000
249,000
Taiwan bank .
Total .
403,671
274,000
9. No gold in circulation. The actual currency is miscellaneous silver dollars.
Premium during 1914, Hongkong & Shanghai Banking Corporation average selling
rate, demand drafts on New York: highest premium, 48; lowest premium, 40; average
premium, 44.95.
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Hongkong .
$6,922
$5, 730
$71,063
466
$1,584,527
$746
$889,033
Japan (including Formosa) .
Total .
6,922
5,730
71,529
1,584, 527
746
889,033
Chinese ports:
Changsha .
4,229
Hankow .
466
34,471
249, 100
68,593
Shanghai .
39,829
1,081,448
1,149, 443
515,374
Foochow .
Swatow .
Total .
39,829
2,750,494
352,630
Grand total .
6,922
5,730
111,358
4,335,021
746
1,241,663
Note —Values given in United States currency.
CURRENCY IN USE IN AMOY, CHINA.
The currency of the port of Amoy is unique in China, being based on an obsolete
com commonly called the u Spanish dollar/; which has been adopted by the Amoy
agency ol the Hongkong & Shanghai Banking Corporation as the unit ior local ex¬
changes. As this bank is by far the most powerful in this district, they have been
able to maintain this book unit, which has been adopted by all the foreign firms
doing business here and by the Chinese firms in their business relations with for¬
eigners or foreign countries. Although at one time the Spanish or Carolius dollar
was in circulation in tins locality, it ceased to appear as a coin of exchange about 45
years ago and is now considered a curiosity in Amoy. The coins actually in use are
known as chopped yen and consist of Mexican dollars, Hongkong dollars, and
Japanese yen (based on silver and coined for use in Formosa), Indo-China piasters,
and similar coins, which, it not mutilated by being “chopped ” or stamped, are con¬
sidered as of equal value for ordinary exchange purposes. In quantity they are treated
according to weight and the number which will buy “Spanish dollars.” the fictitious
currency, is governed by the supply and demand, as an effort is made to maintain the
Spanish dollar at par with Hongkong currency, and the fluctuations of the Spanish
dollar are consequently governed by London gold exchange. The bank, however,
fh f fwv B1Vfr doliars.,b7 weight> accepting them onlv as single
h they, iaYe fixed for the relative value of Spanish dollars.
S? n? ft onn finnn^ 8lJpP10sed *° equal to 72 candarines (72 per cent of a Canton
weight0'900 fitness of silver, but in actual transactions it is seldom considered by
83lhsUv^1^oini1V*nHd<?lar 1U CUn‘ent Use 18 thus maintained at a normal value, the
small silver coins and copper currency are depreciated and are subject to strong
OPERATIONS OF THE MINT SERVICE.
173
fluctuations, the small silver coins being discounted at from 8 to 10 per cent and the
copper coins from par to a discount of 30 per cent. The excess of gold or silver dol¬
lars in the market can be controlled by regulating the value of the Spanish dollar,
although the average relative value keeps the Spanish dollar above the silver cur¬
rency in circulation varying up to 2 per cent. Spanish currency, has depreciated
below the value of current silver coins as much as 3| per cent, as in the year 1911.
The Bank of Taiwan, which is a Japanese bank, keeps its accounts in silver, but
recognize the Spanish dollar as the standard of the port, and the same applies to the
Chinese banks.
CANTON PROVINCE.
Answers to interrogatories , 1914-
1. Coinage executed during the calendar year 1914:
Denomination.
Pieces.
Value.
Silver:
41,691,000
$8,338,200
6,527,000
652,700
48,218,000
8,990,900
14,750,000
147,500
2 (a and 6), 4, 5, 7, 8, and 11. None.
6. No statistics whatever available.
9. There is no gold in circulation. _ * _ , . ..
10. Translation of the national-currency law and of the detailed regulations cover¬
ing the enforcement of the national-currency law inclosed.
12 (a). Imports and exports of gold: Nil.
12 (b). Imports and exports of silver during the calendar year 1914:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
$2,004,935
2,702,917
$3,484,821
372,400
$5,328,781
960,998
$23,851
3,500
4,707,852
3,857,221
6,289,779
27,351
[Translation.]
National currency law .
1 The nower to issue the national currency is exclusively vested in the Government.
2 The weight of pure silver in every dollar piece shall be 6 mace 4 candareens and
8 li Government treasury scale. _ , „
n The denominations of the national currency shall be as follows:
Silver- The dollar piece, the half-dollar piece, the 20-cent piece, the 10-cent piece.
Wifkei- The 5-cent piece. . , , . .
Copper: The 2-cent piece, the 1-cent piece, the 5-cash piece, the 2-cash piece, the
1<4aH The6 national currency shall be based on the decimal system; that is to say,
a dollar.
r>X The standard weight and fineness of the various coins shall be as under:
(1) The dollar piece, weighing 7 mace and 2 candareens, shall be 90 per cent pure
silver and 10 per cent copper.
(2) The half-dollar piece, weighing 3 mace and 6 candareens, shall be 70 per cent
pure silver and 30 per cent copper.
174
REPORT OF THE DIRECTOR OF THE MINT.
(3) The 20-cent piece, weighing 1 mace 4 candareens 4 li, shall be 70 per cent pure
silver and 30 per cent copper.
(4) The 10-cent piece, weighing 7 candareens 2 li, shall be /0 per cent pure silver
and 30 per cent copper. . . , , „ , oc , . , , ,
(5) The 5-cent mckel piece, weighing 7 candareens, shall be 25 per cent nickel and
75 per cent copper. . . „ , . „ ,
(6) The 2-cent copper piece, weighing 2 mace 8 candareens, shall be 95 per cent
copper, 4 per cent tin, and 1 per cent lead.
(7) The 1-cent copper piece, weighing 1 mace 7 candareens, shall be as above.
(8) The 5-cash copper piece, weighing 9 candareens, shall be as above.
(9) The 2-cash copper piece, weighing 4 candareens 5 li, shall be as above.
(10) The 1-cash copper piece, weighing 2 candareens 5 li, shall be as above.
6. No limit is fixed to the amount of legal tender in §1 pieces, which may be offered
at one time; when, however, half-dollar pieces are tendered for payment, the amount
is limited to $20 for each tender, and $5 is the maximum amount which may be
legally tendered in 10 and 20 cent pieces, and $1 in mckel and copper pieces. This
article does not apply to the payment and receipt of rent and exchange transaction
by Government banks. , , . , , ,
7. The forms of the different kinds of national currency are to be decided by presi¬
dential mandates. , , , .. ,, n „
8 The weight of every coin shall not vary from the standard fixed by the Govern¬
ment more than the three-thousandth part; and the total weight of every thousand
pieces shall not vary from the standard weight by more than the three ten-thousandtfi
^ 9. The fineness of the various coins of silver shall not vary more than the three-
thousandth part from the standard fineness fixed by the Government.
10. Silver dollar pieces which, on account of ordinary wear and tear, shall have
lost 1 per cent of the standard weight, and 50 cent pieces and those of lesser denomina¬
tion, including nickel and copper coins, which shall have lost 5 per cent of the standard
weight, may be exchanged for new ones from the Government.
11. No person shall be compelled to accept any currency which has been purposely
defaced or destroyed. , . , . , „ , . .
12. Bullion tendered to the Government for comage into $1 pieces shall be accepted
by the Government, for which 6 li per dollar, Government weight, will be charged to
defray the expense of coinage. .... • > *• ,
13. The above law shall be enforced on a day to be proclaimed by presidential
mandate.
Detailed regulations governing the enforcement of the national currency law.
1. All receipts and disbursements of Government funds shall be made exclusively
in the national currency, except as hereinafter otherwise provided.
2. All dollar pieces formerly issued by the various Government mints and which
are in circulation will be redeemed by the Government in the national currency for
purposes of recoinage, and until such a time as may be proclaimed by the President
the Government may recognize the above as legal tender.
3. The Government will redeem in the national currency old silver subsidiary
coins, copper coins, and copper cash which are now in circulation for the purpose of
recoinage, and until such a time as may be fixed by the Government the same shall
be accepted as legal tender by the business community. In the event of the above-
mentioned currency being tendered in payment of Government fees, etc., the same
Bhall be accepted according to the rate fixed and published for general information by
the local officials at the various ports, such rate to be based on the average rate of the
preceding month.
4. In calculating the value of bullion tendered in payment of Government fees, etc.,
or for coinage into national currency, the weight of 6 mace 5 candareens 4 li shall be
taken as the equivalent of $1 .
5. Government funds, which were formerly collected in accordance with the tael
system, shall be received of paid in accordance with the table for conversions pre¬
scribed in article 5 of the national currency lawr. The various local officials shall con¬
tinue to receive, as formerly, copper cents and copper cash, but shall report the same
to the national tax bureau for conversion into the national currency.
6. All taxes and duties shall be collected according to articles 4 and 5 of the national
currency law and the smallest denomination acceptable shall be the cash.
7. Private debts previously contracted according to the system of taels, subsidiary
coins, copper pieces or other kinds of currency, shall be expressed in terms of the
new currency at the rate prescribed by the national currency law; otherwise the
OPERATIONS OF THE MINT SERVICE.
175
market rate on the day upon which this law shall be proclaimed shall be regarded as
the Government rate in the event of litigation. t
8. Under no circumstances will any person be permitted to refuse payment m me
national currency of China within Chinese territory. # . , Q
9. Any person who shall violate article 4 of the national currency law or artic lo
of the detailed regulations governing the enforcement of the national currency law
shall, on being prosecuted and convicted, be fined in a sum not less than $ J O nor
exceeding $1,000; and should any official or other person intrusted with the hand¬
ling of Government funds be found guilty of the same offense he shall be fined in
a sum not less than $50 nor exceeding $3,000. # , , , , , r •
10. The date on which this law shall come into force and the places to which it
sliali apply shall be decided by presidential mandate.
11. These regulations may be altered by separate mandate.
CHUNGKING PROVINCE.
Answers to interrogatories , 1914.
1. Silver coinage during the calendar year 1914.
Denomination.
Pieces.
Value.
6,90(5,241
26,200
*6,906,241
13,100
6,932,441
6,919,341
i China 50-cent piece is 3 mace 6 candareens.
year 191°41020o'caflhfi:i
dollar (=7 muce 2 cund.
reens), 1, 460, 860 pieces.
2 (6), 4, 5, 10, and 11. None.
are called “military notes # and military notes), in addition
amount ot the offic.al So. WdtS the™-, there
to a special issue of $1,346,000 tor circui evidence that there have been
are many counterfeits in circulatiom and there is e“ce 8tudent
othe^Governi^nt^^private^ank imto in^irculatum.^ ^ Chungking early this
The bank of Chmafets>b£ale branch informs me that $90,000 (Mexican) in notes
CS *2 « between silver and
cASSiM? the average rate has been about 1,580
^h, eqmvalent to Mexican $1.^ ^ ^ and BUver during the calendar year 1914
(through maritime customs):
Country.
China
Ichang. . ...
Wan Usien.
Total.
Gold.
Exports.
Bars and
dust.
i $119,999
i 119,999
Silver.
Imports.
Coin.
$11,631
i 11,631
Bullion.
i $6,434
i 6,434
Exports.
Coin.
» $122,664
1927
123,591
Bullion.
i $523,860
i 1,954
i 525,814
i United States dollars. Rato of conversion: OneHaikwan tael= United States $0,699.
176
REPORT OF THE DIRECTOR OF THE MINT.
FOOCHOW PROVINCE.
Answers to interrogatories, 1914.
1, 2 (a and b), 4, 5, 10, and 11. None.
6. No information concerning mines is obtainable. Tbe provincial authorities
know of no gold or silver mines at present in operation.
7. Approximate stock of gold and silver in the country on December 31, 1914:
Classification.
In public
treasuries.
In banks.
In circula¬
tion.
Gold coin .
Nil.
Nil.
i $820,000
1 300,000
Nil.
i $1,250, 000
1 250,000
Silver coin .
Silver bullion (estimated) .
Total .
i 1,120,000
1 1,500,000
1 Mexican dollars.
8. Government and bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold hold¬
ings.
Legal-ten¬
der silver
holdings.
Government .
i $370. 000
« 1,032,000
Nil.
Nil.
i $200, 000
1510,000
Banks of issue .
Total .
12,002,000
* 710, 000
1 Mexican dollars.
9. Actual currency of the country: Chopped Mexican dollars (usually at a discount
of about 1£ per cent over the Mexican dollar).
12 (a and o). Imports and exports of gold and silver during the calendar year 1914;
Country.
„ Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Bullion.
Bullion.
Coin and
bullion.
Coin and
bullion.
Shanghai (China) .
$6,236
$46,336
i $1,870, 971
i $1,438, 600
i Silver figures include both bullion (syceo) and coins.
MUKDEN PROVINCE.
Answers to interrogatories , 1 914.
1. Silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
Silver (new coinage), 20 cents .
Oft 707 qon
$5,741,581
dsOy 1 U« y fJmAJ
2 ( a and b), 4, 5, and 11. None.
(For reply to No. 3, see appendix to this report.)
6. Not ascertainable.
OPERATIONS OF THE MINT SERVICE,
177
7. Approximate stock of silver coin in the country on December 31, 1914:
Classification.
In banks.
In circula¬
tion.
%
Nil.
Nfl.
Nil.
Nil.
*$27, 182,968
(*)
- - - * - - - —
i Total silver coin in banks and in circulation. 2 Unobtainable.
8. Bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold hold¬
ings.
Legal-tender
silver hold¬
ings.
>$15,937,486
Nil.
•>$6,151,889
i Silver coin.
9. There is no premium on gold. The actual currency of the Province i « email
coin, $1 equivalent to United States $0.34, and Haikwan taels, equivalent to United
States $0.66. .
* gold -4 -lw 4-ing Ore calendar year KM:
China
Country.
Gold.
Silver.
Exports.
Imports.
Exports.
Coin.
Coin.
Bullion.
Coin.
Bullion.
Haikwan taels.1
28,488
($19,930. 20)
Haikwan taels.1
290,543
($203,263. 88)
Haikwan taels.1
3,162,977
($2,212,818. 71)
Haikwan taels1
3,573,426
($2,499,968.83)
Haikwan taels 1
2. 131,754
($1,491,375. 10)
i Haikwan tael= United States $0.6996.
NANKING PROVINCE.
At iswers to interrogatories, 1914 •
1. Silver coinage during the calendar year 1914:
« ond 7- No available c
g No provincial notes.
9760°-15 - 12
Denomination.
Pieces.
Value.
2, 785,000
32,000
47,000
$2, 785,000
6, 400
4,700
20 cents ( Mexican) . .
10 cents (Mexican) .
2,864,000
2, 796, 100
Total .
178 REPORT OF THE DIRECTOR OF THE MINT.
12 (b). Imports and exports of silver during the calendar year 1914:
PEKING PROVINCE.
Answers to interrogatories , 1914.
1. Silver coinage during the calendar year 1914:
• Denomination.
Pieces.
Value.
SI .
60,659,916
87,264,000
$60,659,916
17, 452, >00
20 cents .
Total. .
147,923,916
7S, 112, 716
2 (g and b\. 3. 4, 5, 6, 7, 8, 9, 10, and 11. None.
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Gold.
Silver.
Country.
Imports.
Exports.
Imports. Exports.
Coin.
BaUion.
Coin. Bullion.
Coin. Bunion. Coin. Bullion.
Earooe .
Haikvran
tad*.
Haitian
tael*.
Haikwan Haitian
tael*. tael*.
1,482.400 2,372,192
14.311 _
Haikwan Hoik wan Bait wan Haitian
tad*. tael*. tael*. tael*.
784. 926 19. 096, 223 8,067 2,147,530
29 XQ .5 470 748 .
America .
66,346
Africa .
’ is£ 788 .
Asia: India (indud-
injj Burma, etc.)...
. [ .
37,533 3,921,465 741,764 2,790.7*
Straits Settlements- .
fistigrwn and Tonkin _
3,310
350 093 123 633 .
Siam .
_ ’ 526 933 .
Hongkong and Macao
Dutch Indies .
66,617
84,143
1,600 43,557
7, 467, 474 13, 292. 492 12, i36, 717 9b8,52>
Japan ( including For¬
mosa) .
Chosen (Korea) .
2,844,874
221, S31 306, SOI
_ sssi
424,973 4,615,106 51,714 1.067
K rv.s. » :« 52.563
Vladivostok .
. ee* . . . . :... i5,<*>i
Total.
2,961,147 84,143 1,720,14 2 2,730,746 9,102,666 46,606,82413,610,652 6,132,474
8HANGHAI PROVINCE.
Answers to interrogatories , 1914.
1, 2 (a and 6), 5, and 11. There is no mint in this consular district.
(For reply to No. 3, see appendix to this report.)
4. No information available.
6. There are no mines in the Shanghai consular district.
7 and 8. No aggregate statistics available.
9. The actual currency in this Province is silver.
10. No laws passed in this district.
179
OPERATIONS OF THE MINT SERVICE.
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Coin.
Bullion
(in bars).
Coin.
Bullion
(in bars).
Coin.
Bullion
(in bars).
Europe .
$1,623,101
3,073,595
$64,950
27,533
$48,580
254,709
310,352
$2,333
$1,266,416
America .
$4,676
British America .
India (including Burma) .
117,441
711
185,882
3,828,778
1, 135,761
165,465
7,392
1,327,529
Straits Settlements .
$6,766.20
24,733. 10
548,650.00
Hongkong and Macao .
Japan (including Formosa) .
Chosen (Korea) .
3,570
468,983
629,022
203,317
1,590
458,767
642,669
5,485,925
10,868
Siberia .
39,562
Total .
580, 149.30
477,229
8,829,508
926,412
1,715,077
5,499,126
3,942, 125
Note.— Reductions from Haikwan taels made at $0.70, United States, the Government average rate for
1914.
8WATOW DISTRICT.
Answers to interrogatories , 191 A-
1, 2 (a), 4, 5, and 11. None. There is no local mint. (For reply to No. 3, see
appendix to this report.)
6. There are no gold and silver mines worked in this district.
7 and 8. Information unobtainable.
9. The local currency consists of local Chinese bank notes, silver yen notes, taels,
Mexican, Hongkong, French Indo-China, and Chinese silver dollars and Philippino
pesos, the values of all of which are constantly fluctuating.
10. Laws passed during 1914 affecting the coinage, currency, or banking of this dis¬
trict would nave been promulgated in Peking, the seat of the national Government,
or in Canton, the seat of the provincial government of Kuangtung, in which Province
this district is situated.
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Answers were obtained from the Chinese maritime customs and apply to the port of
Swatow only. The figures contained therein fairly cover imports and exports of gold
and silver coin, but cases have been known where gold was concealed in packages
reported to contain silver in order to avoid the danger of robbery.
Country.
Chinese ports . . -
Dutch Indies....
Hongkong
Japan (including Formosa).
Siam .
Total.
Gold.
Imports.
Coin.
$4,886
4,886
Silver.
Imports.
Coin.
$688,793
509,277
Bullion.
$309,493
1,198,070
369,493
Exports.
Coin.
$793,715
7,979
1,899,761
1, 664
701,563
3,404,682
Note. -Values are expressed iu terms of gold dollars. (1 Haikwan tael= $0.6996.)
Currency conditions in Swatow .
[From Consul MyTl S. Myers.J
Swatow, China, January 11 , 1915.
A, the unsatisfactory currency grevaiUng "
SowV the local or 7-nrace doUar, the
180
report of the director of the mint.
dragon dollar the 7.2.7 dollar, subsidiary silver coins, and cash. To this list may be
added the Haikwan or customs tael, but as it is not a business currency no further
mention of it, will be made. , , . , . ,
The Swatow tael is the money of account of the native banks and larger shops, and
is purely a fictitious or book currency. It serves as the basis of computation for local
rates of exchange which are all quoted in terms of it. Its value is not subject to fluc¬
tuation. The theoretic weight of this tael is given as 994 li (a li is one:thousandth
part of a Chinese ounce), which, reduced to grains at 583 to the tael, or Chinese ounce,
gives it a weight of 579.5 grains. As regards purity, it is said that 1 12 Swatow taels is
the equivalent of 100 taels of commercially pure silver, the tael weight being the same
in both cases, which gives it a fineness of 0.893, 1,000 representing pure silver. Such
being the case, the Swatow tael may be said to contain 517.49 grains of silver, commer-
ciallv mire.
The locai or 7-mace dollar, the equivalent of seven-tenths of a Swatow tael, is the
currencv of business among the Chinese. This currency is almost entirely in the form
of notes issued by native banks (private), the denominations of which range between
$1 and $100. These notes are redeemable in silver, and when silver is demanded of
the bank of issue, current silver dollars and subsidiary coins are given at the exchange
rate of the day. These banks, like so many private banks in China, are said to have
large note issues, and consequently would be greatly imperiled by a continued de¬
mand for silver. Generally speaking, the value of the local dollar, as the tael, does
not fluctuate. A few Kirin minted silver dollars are in circulation here, which are
accepted as a 7-mace dollar. .
The dragon dollar, otherwise known as the “ chopped’ ’ dollar, or local Mexican, is
the general designation given to the miscellaneous assortment of foreign silver dollars,
as Mexican, Hongkong, silver yen, Straits Settlements, French piasters, Philippine
Eesos, etc., which are to be found in circulation at this port. Most of these dollars
ave had imprinted on them a mark or “ chop ” of one or more local firms by means
of a steel die, and hence their designation “chopped” dollar. When very much
“chopped,” they circulate locally at a slight discount, but are never accepted beyond
this district. The weight standard of these dollars is fixed at 7.2. 3. 2, in terms of the
tael, and it is to this standard as a basis that the premium (these dollars are always
at a premium on this standard) is added. This is not the dollar of foreign business,
as might be expected; but nevertheless it forms the principal medium in its turn¬
over, especially with other ports. The silver-yen notes of the local foreign bank and
the notes of the newly established branch of the Bank of China constitute the paper
of this currency. The rate of exchange of this currency is based upon Hongkong
rates, but is said to be controlled entirely by local native bankers and their Hong¬
kong connections. _ , .
The 7.2.7 dollar (the figures represent it in decimal terms of the tael) is the busi¬
ness dollar between foreign and Chinese firms, and consequently is the currency ot
foreign trade. This currency is not represented by any circulating medium, but 13
simply a money of account or book currency. Formerly this dollar corresponded in
value to the dragon dollar, but this is no longer the case. The advantage ot the book
dollar is that it is free from the daily fluctuations of exchange to which all the actual
or existent currencies are subject. „
Of the other currencies little need be said. The value of the subsidiary sil'V e
coins, 10 and 20 cent pieces, fluctuates, and is usually at a discount ranging between
1 and 3 per cent, as cash, brass and copper, is still the principal currency of the peo¬
ple. Its value is subject to fluctuations, and at present is quoted at about 1,000 larg
pieces to the dragon dollar. Only a few copper cents are to be found in circulation,
as they have never gained favor among the Chinese here. , ,
In order to appreciate fully local currency conditions as related to foreign traue>
reference must be made to the available banking facilities. As there are no faciln11^
here for handling foreign exchange other than on Formosa and Japan, the banking
business for most of the foreign trade naturally falls to Hongkong. The position o
Hongkong as a center of distribution and clearing house for the trade of this distri
has frequently been remarked upon in previous reports. .. .
Referring to the trade statistics of this port, it will be seen that imports great*}
exceed exports, from which circumstances the inference of a considerable financia
balance against it may be drawn. In 1913 the figures were as follows:
Total . ^ 210 3*9
Exports to Chinese ports . 4,44V"_
Total . 9,653,229
OPERATIONS OP THE MINT SERVICE.
181
However, to offset this large trade debit there are thp .•
Chinese emigrants to Siam and Malaysia. All these remitum™!)8 m re,I?l ta,nce3 from
for exports to foreign countries, principally Siam and the Malav Smta! «8 t¥credit8
Hongkong, where they are used to meet the debits for import As S Sdi&rf
what these remittances amount to, it is variously estimated that from RnmrS 1 f
between *14,000,000 and $18,000,000 was wmitSftoBSdSStettSdSwctto
H M13. These figures include payments for cargo, but Lt fum L coS^Uvely
unimportant, as the total exports to foreign countries amounted to only about
$5,000,000, and consequently it must have been considerably less. Therefore under
normal conditions settlements between the two ports are readily arranged, and the
dollar exchange in Hongkong is only at a small premium, usually ranging between 2
and 4 per cent, and the reason that the exchange goes so high is partly attributable
to the fact of the local silver dollars being chopped.
Now, however, a different state of affairs exists. Since the beginning of the war
the rate on Hongkong has gone up steadily and now stands at between 12 and 15 per
cent premium. Locally no reason for this unwarrantable rate can be adduced. How¬
ever, several obvious factors which tend to an appreciation of rates on Hongkong and
make the present high rates possible are the following: A considerable depreciation in
remittances to Hongkong for this district from Malaysia, due to a large decrease in emi¬
gration and to the return of thousands of emigrants (immigration into the Federated
Malay States prohibited, but into Siam it is almost normal), with the resultant absence
of credits; a glutted silver market in China; the fact that bank notes at Hongkong
circulate at a premium over the Hongkong silver dollars; and the prohibition to the
circulation of foreign coins in Hongkong, now in force about one year.
As to present developments in the local currency situation, instructions were
recently received from Peking that all issues of private banks must be withdrawn y
the end of the Chinese year, about the middle of February , to be replace y ie j ,
of the Bank of China. To this mandate the bankers have replied that the^thdmwal
of their notes in such a short time would greatly disarrange the _ imnractica-
and cause embarrassment in business circles, and therefore comp . oshow
ble. I am informed, however, that measures are being
that the Government's final enforcement of this order is P » Although the
contemplation being the substitution of bank oolnrs r flw • bm| 0, t!ie
ettecution of the .Government's P«>P««1 ™J?b^ £ndS?i» suggested . herein.
Audi LJLLJLB 1-LL^IJL ID xac* y — IT ^ -i
considerable embarrassment it is needless to remfJ • fAr 1915, unless some meas-
port for 1914 is not so apparent as it will b® h there is no indication of
ure of relief is soon afforded. At present it must be earn
any improvement in exchange conditions.
BRITISH BANK AIDS IN FLOATING CHINESE LOAN. ^
onj Trade Reports, June 17, 1915.]
[American Minister Paul S. Reinsch, Peking, in Commerc ^
An interesting feature in connection .with R+haUhe Hongkong & Shanghai
Government 6 per cent internal loan of 191 •> and subscription agen • *in„
Corporation has agreed to act as one of the prance possible methods ^ ■ the
last year, in talking over with the investors, I suggested to him
an issue of domestic bonds attractive to ^ina as issuing age“|^. foreign
feasibility of using the large foreign ban amortization, and by m g afforded,
certain revenues as guaranty for interest and amor ^ gecurlty could be
bank a certain share in the auditing OP Chinese. . Ranking Corporation
with the result of attraetbig idle funds 1 jj e international 1 •• confines itself
A proposal of this kind was first made As the former ^
and the Chartered Bank of India, 4l"f,Ji^>untiiig business it d up this system in
largely to exchange and commencal ^ bank has now ‘ st important British
interest in the proposal . The premier Bntu* t of themost i Pf its domestic
a modified form. This action shows adegreo^ in the organise
interests here to assist the Chinese Governm tliat, though it w
public credit. , • onmewhat anomalous -e ordinariiy
From the fiscal point of view the |®an Signed as rhmese Government’s desire
a domestic loan, specific revenues are ' a^gdue to the gang* the foreign investor
confined to foreign loans. This fea ense of secur e Government s an
to give the domestic investor the ^/Slated m the Goi
Possesses. A subscription price of 99 w
ment of the bond issue.
182
REPORT OF THE DIRECTOR OF THE MINT.
CHOSEN (KOREA).
IBy Omul Genera. JWerd S. Miller, Seoul,*.™, ^Supplement Commerce and Tmde Report,
NEW MINING LAW — GOLD MINING.
£iFS
tlie^miiie116'8 ^f^^^^^^^^^^dunnglSldapproidmatedl^OOOOwf
DrecS ?*ed ft ‘“T8""8 sft™g an increased output 0} some $5(»,ow’ove; the
SS3£|SS $mmh0‘e W0Tked by JapaneSe aDd ^owed a ,KL,(
mk.iS’freSonTn th-e JaPan,ese holder °? a lal*e placer gold-
TrSwS nntly rfhasw? other 5SJ SfflfflSs-HSe5Si'teS? sk
SwSSzftr work in both — » & JmSS&X
MOVEMENTS OF SPECIE AND BULLION.
The movements of specie and bullion during th
ceding year are indicated in the following table:
year under review and the pre-
Items.
1913
1914
Increase
(+) or de¬
crease (— ).
Gold, coin and bullion
EXPORTS.
$4, 966, 312
483,806
$5,061,805
328, 803
+*95,493
-155,003
Total i _
IMPORTS.
5,450,118
5,390,608
- 59,510
Gold, coin and bullion. . .
3,487
97,158
6,311
145, 179
+ 2,824
+ 48,022
Total .
Grand total .
100,645
151,490
+ 50,846
5,550,763
5,542,098
- 8,655
1 GoId ore exported: 1913, $195,415; 1914, *283,717.
Answers to interrogatories, 1914.
Government, h as b eeif mi spendcd * The ,a^8 °/. former Korean
circulation, and the system united with that irff, bei°g gradually withdrawn from
being carried on in Korea. that ln force ln JaPan- No coinage is now
3. Gold, and silver used in industrinl orta* ,
opinion obtainable. ' ° °^clal data available and no expert
4 and 5. Unknown.
(For reply to No. 6, see appendix to this report.)
OPERATIONS OF THE MINT SERVICE. 183
7 . Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1914: *
Classification.
In public
treasuries.
In banks.
Circulation
(in
markets).1
Gold coin .
2 $796, 196
3 571,317
$2,522
Gold bullion .
Silver coin .
$744,933
2,504,110
Total .
744,933
1,367,513
2,506,632
1 As no distinction is made between market and bank circulation, the market circulation represents the
total amount.
2 Foreign coins in possession of the banks amounted to $72,204.
3 No distinction is made between gold and silver bullion.
8. Bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold
holdings.
Additional
reserve.
Banks of issue .
$10,881,484
$1,210, 190
i $2, 501,554
1 In bank of Japan notes.
9, 10, and 11. None.
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Bullion.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Coin.
Bullion.
Japan .
United States of
A moriAQ
$2,347
$249,000
$4,812,805
$226,623
39, 243
17,851
$49,800
$7,680
$323,351
$185
L’ « rrl qticI
China .
3,713
68,990
18, 709
5,267
Total .
6,060
249,000
4,812,805
283, 717
118,790
26,389
323,351
5,452
Production.
Product, 1914.
Domestic production.
From deep mines . . .
From placer mining.
From copper ores . . .
Total
Gold.
Silver.
Kilograms
(fine).
Value.
Kilograms
(fine).
Value.
. 3,812.90925
431.52500
727. 82925
$2,536,752
286,524
483,279
467.7975
$9,319
. 4,972.26350
3,306,555
467.7975
9,319
184
REPORT OF THE DIRECTOR OF THE MINT,
JAPAN.
Answers to interrogatories , 1913 .
1. Gold and silver coined during the calendar year 1913:
Denomination.
Pieces.
Value.
Gold:
20 yen .
871,000
90,000
Yen.
17, 420,000
450,000
5 yen .
Total .
961,000
» 17,870,000
($8,899,260)
Silver:
50 sen .
5,914,204
13,328,810
2,957, 102
1,332,881
10 sen .
Total .
19,243,014
24,289,983
($2, 136,412)
1 Of which 17.799,000 yen was new coinage and 71,000 yen was recoinage from foreign coins. (On account
of illegibility of the faces of the foreign coins melted their value is calculated at the rate of 1 yen per 7.50
grams of pure gold. Values of both gold and silver coinage are face value. )
2 Of which 7,795.82 yen was new coinage and 2,640,259.16 yen was recoinage from native silver coins, and
1,641,928.02 yen from foreign silver coins.
2 (a and 6), 9, and 10. None.
3. No investigation has been made regarding the amount of gold and silver used in
industrial arts.
4. No data on this question is available.
5. United States gold coin imported and melted at mint during 1913: Imported,
$555; melted at mint, 65,805 yen (calculated at the rate of 1 yen per 0.75 gram).
(For answer to No. 6. see appendix to this report.)
7. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 1, 1913:
Classification.
In treasuries
and banks.
In circula¬
tion.
Total.
Gold coin .
Yen.
102,865,248
($51,226,894)
122,161,228
($60,836,292)
15,643,812
($7,790,618)
3,500,000
($1,743,000)
Yen.
37,348,240
($18,599,424)
Yen.
140,213,488
($69,826,317)
122, 161,228
($60,836,292)
139,630,418
($69,535,948)
3,500,000
($1,743,000)
Gold bullion .
Silver coin .
123,986,606
($61,745,330)
Silver bullion .
8. Bank notes outstanding at the end of the year 1913:
Designation.
Convertible
notes.
Gold coin
and bullion
reserve.
Bank of Japan . § .
Yen.
A OA QQC 7flQ
Yen.
I ooi OCR ocn
OaO, • UO
($212,346,557)
1 <>OD, ooU
($111,734,208)
i Of which 202,022,828 yen ($100,607,368) were covered by public bonds, etc.
No government notes in circulation at present.
OPERATIONS OF THE MINT SERVICE.
185
12. (a) Imports and exports of gold during the calendar year 1913:
Countries.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
China . . .
Yen.
5,473,000
Yen.
Yen .
175,000
40,000
Yen.
735,738
Kwantung .
Hongkong .
10,930,000
1,175
2,400,000
1,900,000
France .
Germany .
United States .
i $2, 913, 300
2,533
25
Straits Settlements .
Asiatic Russia .
1,113
Total .
20,704,175
($10,310,679)
216,113
($107,624)
738,296
0 $368, 041)
1 Does not include amounts invoiced at the American consulates in Japan (excluding Taiwan and
Dairen) for the United States, Philippine Islands, and Hawaii for 1914. (Consul General George H.
Scidmore, Yokohama, in Supplement to Commerce Reports, Apr. 5, 1915.)
12. (6) Imports and exports of silver during the calendar year 1913:
Countries.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
China .
Yen.
4,626
20,000
4,006
9,992
30,916
Yen.
4,457,362
Yen.
Yen.
1,524
Kwantung .
65,000
Hongkong . » .
1,857,956
France .
United States .
83
5
188
Asiatic Russia .
142
Great Britain .
Straits Settlements .
4,313
Total .
73,853
($36,779)
6,315,318
($3, 145,028)
65,276
($32,508)
1,666
($830)
TAIWAN (FORMOSA) AND KARAFUTO (JAPANESE SAGHALIEN).
BANKING AND COINAGE SYSTEM.1
Although there was at the time of the cession of Taiwan no organized system of
monetary circulation in the island, yet on account of the smallness of transactions
no great inconvenience was felt in the circulation of capital ; but with the develop¬
ment of industry after the cession was recognized the necessity of establishing banks
as organs of monetary circulation; consequently in 1899 the branch offices of the
Thirty-fourth Bank of Osaka were established in the island, and in 1897-1899 the
Bank of Taiwan, which may be called the central bank of the island, came into
existence. In addition to its principal business the latter bank has made loans
since 1905 as agents of the Hypothec Bank of Japan.
When Taiwan became a Japanese possession there came into circulation, in addi¬
tion to the already complicated currency in use from former times, the notes of the
Bank of Japan, the silver yen, and subsidiary coins, so that the coinage system of the
island fell for a while into the wildest confusion. When the gold standard was adopted
in October, 1897, in Japan proper, the Government, after careful consideration of
the old usages of the island and its trade relations with the Chinese mainland, decided
to allow for the time the circulation in Taiwan of silver coins calculated on a gold
basis and to establish when opportunity offered the same system as in Japan proner*
and in November of the same year the first official rate of exchange was published ’
Thus the coinage system of Taiwan was that of gold monometallism in which silver
currency was used as substitute, and the Bank of Taiwan was permitted to issue
1 From the Fourteenth Financial and Economic Annual of Japan, 1914.
186
REPORT OF THE DIRECTOR OF THE MINT.
ba,nk notes convertible into silver yen by law No. 38, promulgated in April, 18975
but the frequent changes in the official price of the silver yen made the circulation of
the bank notes extremely complicated, and the evil effect upon business transac¬
tions became so serious that it was considered necessary to reform the coinage system.
Consequently, as a temporary measure to meet the emergency, an ordinance was pro-
mulgated in June, 1904, permitting the issue of gold notes by the Bank of Taiwan,
winch was carried into effect in the following month. In 1906 the law of the Bank
of Taiwan was revised and the ordinance of 1904 abolished in June of the same year.
j ®-nce th© issue of gold notes their circulation has been going on very smoothlv
and the abolition of the circulation of silver notes has further extended the use of
gold notes. Moreover, it appears that the old custom which prevailed among the
islanders of hoarding up their gold and silver is gradually disappearing and deposits
in banks have in consequence somewhat increased.
Again, by the revision of the coinage law in April, 1906, and March, 1907, the weight
oi puie metal in the subsidiary silver coins was altered
By an ordinance which was issued in October, 1908' the importation from Japan
proper or abroad of silver yen and foreign silver coins exceeding in value 100 yen
wnen converted into Japanese currency, and of foreign subsidiary coins and unre¬
ad silver exceeding 3 yen in value, was prohibited, and a similar importation of
an2, foreign sih'er coins, the aggregate value exceeding 100 yen, was also
prohibited. Further, the payment of public dues in silver yen, which had been per¬
mitted in the island, was prohibited by ordinance No. 16 in the same month of the
same year. Up to April ,1908, the government of Taiwan exchanged silver notes for
geld notes; by ordinance No. 19 in the following December, however, the 31st of that
month was proclaimed to be the last day for the use of silver notes, and December of
the same year was fixed upon as the final day for the conversion of these notes. The
amount of silver notes still in circulation on December, 31, 1909, which was fixed
upon as the final day for the conversion of these notes, was about 23,000 yen (£2 356)
ihLB+r\°f1TaiTan adJ,urted matter on that day by deducting the above
sum from the bank-note account. 6
On April 1, 1911, the coinage law came into force in the island and as stated
“ °rJlDaD,ce Promulgated in June, 1904, permitting the Bank of Taiwan
to issue gold notes. Smce then the currency of the island has practically been
on the basis of gold monometallism, and thus it has become uniform with the system
in force in Japan proper. Byhceiu
[Translation.]
PERSIA.
Answers to interrogatories, 1913.
1. Gold and silver coinage during the calendar year 1913:
Gold:
20 krans.
10 krans.
4 krans..
Total.
Silver:
5 krans.
2 krans.
1 kran . .
§ kran.
i kran.
Total.
Denomination.
Pieces.
358
20,355
5,339
26,052
2,999,747
47,055
1, 254, 796
627,398
156, S48
Value.
Krans.
7,160
203,550
21,356
United
States
currency.
232,066
14,998,735
94, 110
1, 254, 796
313, 699
39, 212
$1,217.20
34, 603. 50
3, 630. 52
39,451.22
2,549,784.95
15,998. 70
213,315. 32
53,328.83
6, 666. 04
OPERATIONS OF THE MINT SERVICE.
187
2 (a). No coinage was made for foreign governments.
2 (6). Coins of mixed metal and nickel are coined at Brussels. They are issued
by the Imperial Bank of Persia.
4. Gold and silver returned from use in industrial arts to monetary use: Gold, none.
Silver, various manufactured articles, 12,557.533 ounces; in dust, 7,699.358 ounces;
total, 20,256.891 ounces.
5, 6, 9, 10, 11, and 12 (a and b). None.
7. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1914: Impossible to estimate. Exportation of silver coin is known to be large.
8. Government and bank notes outstanding at the end of the year 1914: No infor¬
mation available.
Answers to interrogatories, 1914-
1. Gold and silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
Krans.
United
States
currency.
Gold:
20 krans . . .
7,765
34,893
8,324
155,300
348,930
33,296
$26,401
59,318
5,660
10 krans .
4 krans .
Total .
50,982
i 537,526
91,379
Silver:
667,000
10,926,347
2,179,500
560,000
30,000
10, 172
3,335,000
21,852,694
2, 179,500
280,000
7,500
1,526
566,950
3,714,958
370,515
47,600
1,275
259
rrntol . - .
14,373,019
2 27,656,220
4,701,557
i \fr.rp than one-half of this amount was from recomage 01 ioreign corns.
a Of which amount 25,016,882 krans ($4,252,870) was new coinage and 2,639,338 krans ($448,687) was from
recoinage of native corns.
There were also manufactured at the mint at Teheran 25 gold and 23 silver medals.
9 (a and b) 3, 5, 6, 7, 8, 9, 10, 11, and 12. No replies.
1 Void and silver returned from use in industrial arts to monetary use: Gold,
r 404 914 miscals=799.4772 ounces; silver, 132,832.000 miscals=19, 648.0670 ounces.
SIAM.
Answers to interrogatories, 1914 .
1 Silver coinage during the calendar year 1914:
Denomination.
Pieces.
Value.
Ticals.
United States
currency.
_ 4 .ncninacfi . .
488, 128
488, 128
$181,095.49
Domestic recum**bc .
2 (a), 4, 5, 10, and 11. None.
2 (6). Coinage executed at the Belgium mint: Nickel — 10 satangs, 1,000,000 pieces;
5 satangs, 2,000,000 pieces. Bronze — 1 satang, 1,000,000 pieces.
3. No information at disposal of Government.
6. No silver is produced in the mines of the country, while the amount of gold
produced is so infinitesimal that it is not officially recorded.
188
REPORT OP THE DIRECTOR OF THE MINT.
7. Approximate stock of silver coin and bullion in the country on December 31,
1914:
Classification.
In public treasuries.
In
banks.
In circu¬
lation.
Tfcals.
Cuited States
currency.
Silver coin .
23,366,370.00
3,078,770.45
$8, 668, 923. 27
1, 142,223.84
<>)
p)
Silver bullion .
Total .
26, 445,140.45
9,811,147.11
1 No information at ministry of finance.
8. Government notes outstanding at the end of the year 1914:
Designation.
Notes
outstanding.
Gold holdings.
Legal-tender
silver holdings.
Government..
Ticals
31,065,820
($11,525, 419 .22)
Ticals
11. 958, 96L 83
($4,436,774.84)
Ticals .
19.106,848.17
(*7, 088, 640. 67)
9. This question is not applicable to Siam, as there is no gold currencv.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1914:
Gold.
Silver.
Country.
Imports.
Imports.
Exports.
Gold Leaf.
Coin.
Coin.
Coin.
Singapore .
Ticals.
Ticals.
104,593
Ticals.
18, 912
Ticals.
283,676
Hongkong . . .
China .
3,429,852
119.000
1.333 239
1,913.654
14.983
Indo-China .
1 200
T7tHk>
Penang .
443
United Kingdom .
13,038
Total .
3.548,852
($1,316,624)
117.631
($43,641)
3.544,227
($1,314,808)
555.153
($305,962)
STRAITS SETTLEMENTS.
Anttcers to interrogatories, 1914.
1 and 2 (b). Silver coinage reported from the mint at Calcutta (India) during the
calendar year 1914, as follows: x ' °
Denomination.
Pieces.
Value.
Marti .
191, «e
S3S,3b0
2 (o) 4 6. 10, and 11. None. There is no mint in the colony
and mlver used m industrial arts. No official dat^ and estimate impos-
5. United States gold coin imported. Unknown.
OPERATIONS OF THE MINT SERVICE. 189
7. Approximate stock of gold and silver coin in the colony on December 31, 1914:
Classification.
In public
treasuries.1
In banks.1
In circula¬
tion.
Gold coin:
In currency vault. . .
In treasuries .
£327,310
42
£327,352
($1,593,058)
$12,937,696.50
727,036.25
£103,645/10
($50-1,391)
$587,468.00
070 Q31 -VI
Unknown
$5,481,707.50
5,703,530. 15
Silver coin:
In currency vault .
In treasuries, 50-cent pieces .
.. $12,885,588.00
Subsidiary silver coin .
4) dOl. i/U
1 Straits Settlements and Federated Malay States.
8. Government and bank notes outstanding at the end of the year 1914:
Designation.
Notes out¬
standing.
Gold holdings.1
Legal-tender
silver holdings.
Government .
2 $48, 487, 648
198,975
£1,532.686/13/3
($7,458,819.64)
(s)
$12,885,588
Banks of issue .
1 Straits Settlements and London.
* Straits Settlements dollars.
3 The Hongkong & Shanghai Banking Corporation is bound by ordinance to maintain specie to the ex¬
tent of one-third of the amount of the issue of notes, and the chartered bank to maintain with the Crown
agents, London, or trustees, coin or securities or partly coin and partly security equal to one-third of the
maximum amount of notes for the time being allocated to the Straits Settlements.
9. The currency is the Straits dollar, of which the fixed exchange value is $60=£7.
12 (a). Imports and exports of gold during the calendar year 1914:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
British North Borneo (Sarawak) .
1 $4 , 850
9,900
4,315,666
1,156
46, 950
1 $880
244,276
167,185
68, 684
Federated Malay States .
1 $83, oii
981,240
78,956
TTftnpkonp ( China) . . . . .
i $4, 138, 921
8,571
14,800
2,225,830
1,732,619
169,344
1,400
300,000
286,888
Siam. . . . . .
United Kingdom .
100
600,086
d ri t i India .
352, 261
Holland .
r\nf/»h Indies . . .
1,186,874
247,327
2,470
Malay Nonfederated States .
3,067
26,230
1.582
2,000
rTrtfftl . .
8,878,373
4,378,522
2 298.964
1.747,266
1 Straits Settlements dollars.
190 REPORT OF THE DIRECTOR OF THE MINT.
12 (6). Imports and exports of silver during the calendar year 1914;
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
British North Borneo (Sarawak)
British India . .
1 $238, 599
479,313
4,000
7,000
1 *134,150
Cevlon . .
Egypt . .
Dutch Indies. ... .
.
.
Siam . . .
Federated Malay States .
324, 198
520,391
13,300
48, 019
.
1 , 698, 152
37,930
1$154,86i
Arabia . .
T Tr»] ] on d *
.
1,368, 183
ITong: ong (China) .
3,961
227,093
.
v uuvu IviUUUUUl
French Indo-China . . .
14,428
1.250
.
Total
30,000
384,970
4,000
1,895,934
303, 118
3,924,635
158,861
1 Straits Settlements dollars.
AFRICA.
ABYSSINIA.
[By Consul General John Q. Wood, in Supplement to Commerce Reports, June 14, 1915.]
• Tlle. Frencli-Ethiopian Railroad statistics show that Si i=rcs«s
imported during 1913 and $541,392 exported tL lR^ifi’/ sk • ■ cYrrency were
bought foreign exchange valued at SI &K Rnn <.»4 6 t^ie same year
of its cash reserve. Th! rupeet f n ^’f9’000- ^us losing $129,800
ported over the Frencli-A by ssiniaii Rai 1 road in*! <n all1fxchan?€; The currency trans-
tion of $G12,47C to pay off the trade haloncei^f 1913 8h uS aP'<unln the coin circula-
. On account of the expense £ IS S.: 1 \favor ^byaawisi of $1,180,000.
important firms import fiaria Theresa thaW^fn/*?™ t ie Fank of Abyssinia, several
to believe tliat the bank imported $300 non i oi o ieir _ own account. It is reasonable
disposal $194,666. This 3d ka^thTs^^ o Egypt placed at its
merchants. In endeavoring to cxnliin thL t°!i ^ ^porteci by private
Abyssinia in 1913 there 3ai?s thf s^i 5 °J V’.WOOO m W of
of silver coin imported. As most of the l ircm k deducting the net balance
of firms in Aden, it is quite probable th*n us*0 ess houses in Abyssinia are branches
Abyssinian products would account for tin* net 111 exchanging cottons for the
tbe dicl.red vahS
rates op interest and loans.
overdrafts 12 per cent ?s ehargld P< DinhiJ Perfa?Yum.; uPon ordinary
loans on merchandise to $319 311 (in lutf suRe**™?®11* Abyssinia reduced its
counts amounted to $218 943 in 1 91 3 Ti • ,7V; guaranteed loans on 265 ac-
Tr^„ „ op» Km m ^C,ZT °‘ m9 m “ M-’-
$14.^514 m 1912, with an increase in the minihor^f°P° m 1913> m comparison with
and deposit accounts together (319) in 1913 sho\vXi°H ac^0lLats 129 from 94. Open
pared with 330 valued at $383,390 in m2 8howed dealmSs valued at $395,570, com-
CURRENCT IN CIRCULATION.
The Abyssinian Government his i mi.t „* ..
operation. Its coinage of Menelik dollars and but at present it is not in
Kingdom, but the Maria Theresa thaler of “? accepted in all parts of the
^)°^n^<i^4U«f’a-'^he-,haler 8 vahie cliamres^-iththpn1^ th* Menelfc dollar, is
$0 oO and $0.47 during 1914. The • “^epnee of silver, fluctuating between
fa ncc^u*^8! intrinsic value is only MifMxLnth df™and » small taSing, and
of tlie 7 toJ>ay°u© dollar for 14 piasters on i au Abyssinian dollar, at times it
ot the country bare of salt are still user! onaccountof their scarcity In«omeparts
are used everywhere for small ‘^hange, and'blankcartnS
^ c- ah of the Maria Theresa thalere are imported
OPERATIONS OF THE MINT SERVICE.
191
from Austria, while at present the piasters are minted in France. Abyssinian bank
notes were to be put in circulation the latter part of 1914.
In Jibuti the official money is French. The 5-franc piece and small corns are used,
but the Indian rupee is preferred among the indigenous population. The notes issued
by the Banque de 1 Tndo-China are also legal tender. A branch of this bank is located
here in a fine building. Its principal activities are the financing of building and indus¬
trial enterprises in the French colony, acting as the financial agent of the colonial
administration, and assisting in the successful financing of the French-Ethiopian Rail¬
road. Most of the laborers along the construction line are paid off in these bank notes,
and money changers traveling on the railroad do a thriving business at every station
in taking up these notes in exchange for the Abyssinian silver currency, usually tne
Maria Theresa thaler.
EGYPT.
Answers to interrogatories, 1914.
1, 2 (a and b), 4, 5, and 9. None.
(For reply to No. 6, see appendix to this report.)
7. Approximate stock of gold and silver coin in the country on December 31, 1914.
Classification.
In public
treasuries.
In banks.
In circula¬
tion.
£ E.
31,353
($154,978)
160,864
($795, 151)
Unknown.
£ E.
...do .
3,494,462
($17,273,126)
8. Bank notes outstanding at the end of the year 1914:
Bank of issue.
Notes out¬
standing.
Gold holdings.
£ E.
8,250,000
($40, 779, 750)
£ E.
331, 867
National Bank of Egypt .
($1, 640, 419)
10. Laws passed during 1914: Decree of August 2, establishing forced currency for
bank notes. department of mines (mineral resources) forwarded.
(flCS 6). Tmports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Great Britain (In¬
cluding .British
possessions, in
Mediterranean)...
£ E.
1,076,361
£ E.
£ E.
2,650,021
2, 123,158
190, 549
1,221,739
5,325
16, 951
10,041
128, 103
260,051
488
19,118
51,148
2,174
134
£ E.
232
£ E.
4,076
£ E.
877
2,365
12,069
6, 752
368
QQ
£ E.
11,658
378
1,009
202,858
25,095
1,346
68,041
361
10,858
275
353
oc
. 670*
34
Italy .
Other countries.
Total .
35
1,302
ZO
45
OO
91
1,762, 456
'$8,711,820)
6,291
(531,097}
6,345,887 334,415
I ($31,367,720) ($1,653,013)
I «
11,788
($58,268)
4, 746
($23,460)
22,610
($111,761)
13,079
($64,650)
192
REPORT OF THE DIRECTOR OF THE MINT.
TRANSVAAL.
Answers to interrogatories , 1914.
1, 2 (a), and 4. There is no mint in operation in the Union of South Africa. The
only mint is in Pretoria, but this has not been operative since the last Anglo-Boer War.
2 (6) and 5. None.
3. No information available.
(For reply to No. 6, see appendix to this report.)
7. Approximate stock of gold and silver coin in the country on December 31, 1914:
Classification.
In banks.
In circula¬
tion.
Gold coin .
$26, 215,714
2, G30, 309
i $12, 166, 250
1 8,516,375
Silver coin .
Total .
28,846,023
20,682,625
1 These figures represent only a rough estimate.
8. Government and bank notes outstanding at the end of the year 1914:
Designation.
Notes out-
- standing.
Legal tender .
$5, 725,866
5,727,432
Other issues . — .
Total .
11,453,298
9. The currency of the Union is based on a gold standard.
10. Laws passed during 1914: Currency act No. 4 of 1914. (It was not found neces¬
sary to put any of the provisions of this act in force.)
11. The annual report of the government mining engineer will be forwarded later.
12 (a). Imports and exports of gold during the calendar year 1914:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Ore.
$1,963,063
$2,088
$2,477
58,390
50, 130
194,660
‘$99,977,210
* $6, 019
"XT—-*.-. nnA In •*-» r\ t P
29,199
9,245
742,161
D V» /\d Oc 1 0 _
47,944
36, 751
\T »-v — ■# AarM T) V\ / \ /l AO V A
15
1,450
97,330
o erman Boumwea i au . .
Of rti ao a f A mprir*n
122
Unitea oiaies oi . .
Portuguese East Africa .
2,644,144
75,423
Total .
4,721,101
2,225
1,231,266
99,977,210
6,019
i Including gold concentrates or slag, $5,994.
* This represents the exports prior to commencement of the war.
Note. — Values arc stated in American currency.
Owing to the outbreak of the European war the export of gold bullion from the
Union of South Africa (the output of the mines of the Transvaal) was stopped in
August, 1914, and though it is understood a few shipments were forwarded to England
at a later date, the exports of gold bullion for the year were greatly curtailed, as is
evidenced by the above statement.
OPERATIONS OF THE MINT SERVICE.
193
12 (b). Imports and exports of silver during the calendar year 1914:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
TT n it pH Tv inpdom .
$225,076
42,339
$7,460
$58,164
$10,375
A no! rolio _
2,438
234
72,560
Cnnth nru "D h rwd PciQ _ _ ..............
2,711
7,377
18,249
\T /\y»f V> Ay»T^ T) Vfc ATI OQ1Q _
'DnlfTlIITYl _
5
4,866
T ) 1 1 m i Ao A 1j1' a « 4* A f|*l /"kO
25,763
1,781
Total .
321,515
9,246
138,262
10,375
MADAGASCAR.
Answers to interrogatories, 1914.
1, 2 (a and b), 4, 5, 9. 10, 11, and 12 (a and b). None.- There is no mint in Madagas¬
car; only the regular French coin is used .
(For reply to No. 3, see appendix to this report.)
/por replv to No. 6, see appendix to this report.)
7 Approximate stock of gold and silver coin in the country on December 31, 1914:
Classification.
In public
treasuries.
In banks.
$13,777.30
2,451,191.31
$9,650.00
1,408,900.00
Silver coin .
2,464,968.61
1,418,550.00
8 There are no local government or ban^ ^“88ued '
9. The currency of France is used in Madagascar.
MOROCCO.
Answers to interrogatories, 1914.
1 Silver coinage during the calendar year 1914.
Denomination.
Pieces.
Value.
- —
2,411,018
1 Hassani pesetas.
12,055,090
1,293,550
. 250,000
Rials (dollars)- . .
1,034,840
one-fou^/^1-;;;; .
500,000
One-ten tn riai - -
3,945,858
2 13,598,640
($2,719,728)
Total .
- - -
1 0?u^fabove total coinage, 12,305,090 Hassani pesetas was new coinage and 1,293,550 Hassani pesetas
-sfrom rccoinage of domestic corns.
9760° — 15 - 13
194
REPORT OF THE DIRECTOR OF THE MINT.
2 (a), 5, 6, 8, 10, and 11. None.
2 (b). All coinage is executed at the Paris mint. There is no mint in Morocco
3, 4, and 7. Unknown.
9. Premium on gold during 1914: Highest premium, 39£ per cent; lowest premium
24| per cent; average premium, 30 per cent. The actual currency of the country is
Hassani silver. J
12 (a and b). No statistics available.
ZANZIBAR.
Answers to interrogatories, 1914.
o’ ?» and 11- None. There is no local mint.
t? 2 ■ atl.st^s ?.ot available. The rupee of India is the monetary unit of British
East Africa, including Uganda and Zanzibar. An increase in the volume of coin is
usually met by importations of rupees from India.
3. No statistics available for gold and silver used in industrial arts. The amount
however, was practically nil. ’
12 (a and b). Imports and exports of gold and silver during the calendar year 19T4:
Statistics not available.
(The American consul states that these questions were submitted to the treasurer
of the protectorate at Nairobi and in addition thereto the Official Gazette and local
bank managers were consulted without success. )
AUSTRALIA.
SYDNEY (NEW SOUTH WALES).
Answers to interrogatories, 1914.
1. Gold coinage during the year 1914:1
Denomination.
Pieces.
Value.
Pounds.
United States
currency.
Sovereigns. . . .
1,774,000
322,000
1,774,000
161,000
$8,633,171.00
783,506.50
•A-A.CAAA kJU V Clkllo m .
Total . . .
2,096,000
‘1,935,000
9,416,677.50
^ Of thft fthflVA tfltol rrrtl d /loinorpA n 1 an i nan /An . . _ _ _
2 (a), 6, and 10. None.
Wrretlyto'S! the ”ySl mint'
4. « might gold is not accepted by the Sydney mint.
ondedS^^tanSWSsr tL*>ri“g 18 ™"‘h3
Wales. g ot U ted States origin was imported into New South
the btnKeWon6 that^afe^ofn^AlPdf c?^.atld on December 31. 1914,
bullion to the value of $050,037. ‘ descriptions to the value of $72,973,872 and
9. There is no premium on gold.
the deputy maste/a^omp^rolle^^he royM iffint L0^:iQ^porated in the report of
to get full ealendar y^^tatisi/o^ftir iy'ld aTthe^e^n^ time^6 Calendar J,ear> and it is therefore impossible
OPERATIONS OF THE MINT SERVICE.
195
Imports into and exports from New South Wales of gold and silver bullion , specie, etc.,
during the six months ended June 30, 1914.
IMPORTS.
Country.
Gold.
Silver.
Bullion.
Specie.
Ores and
concen¬
trates.
Bullion.
Specie.
Ores and
concen¬
trates.
TTr»Uad IT incrd nm
$14
141
1,836,257
$277,390
riO /IQ
$9
$973,300
$63,396
2,968
242,989
7,923
5,939
Total .
2,079,401
973,300
71,319
19
286,297
_
EXPORTS.
United Kingdom .
Ceylon .
Fiji . ----- .
$637,049
$5,474
486,650
. 3*528
1,027,814
48,665
1,948,001
18,244
. i,'605*
. 7*300*
8,244
1,703
$42,825
$678,544
73,012
1,328
. $973*
$79,289
ouoert ........
78
47,375
1,547
. 632*
""2, "in’
Is ew ^eaianu ----- . .
Solomon Islands .
Austria .
. 2,530
..........
"23, '602'
35,272
753,923
France . - .
Germany...- .
1,635
302,064
New Caledonia. . .
New lie or ia es . - .
Timor (Portuguese) .
""iii’370’
.
is, oof]
145,995
Netherlands .
751,027 1 3,557,228
44,460
841,862
5,269
1,316,543
MELBOURNE, VICTORIA.
Answers to interrogatories, 1914-
1. Gold coinage during the calendar year 1914:
Value.
Denomination
Pieces.
Pounds.
United States
currency.
2,012,029
19,791,533
from the recoinage of
■ melted was too msig-
uauou.
a) and 9. None.
m
REPORT OF THE DIRECTOR OF THE MINT,
2 ( b ). Coined at Royal mint, London:
Denomination.
Pieces.
Value.
2 shillings .
48.500
42.500
4,800
4, 750
£4,850
2, 125
150
59
1 shilling .
Sixpence .
Threepence .
Total .
100,550
7,184
($34,961)
(For reply to No. 3 see appendix to this report.)
4. Gold and silver returned from use in the industrial arts deposited at the mint
for coinage during 1914:
Description.
Gold.
Silver.
Old jewelry, jeweler's filings, and material which had been previously wrought here,
containing .
Fine ozs.
13,320
None.
i Weighing 8,813 ounces, gross.
5. United States gold coin imported during 1914: Approximately $1,000, brought
by travelers. Amount melted at mint too insignificant to record.
7. Approximate stock of gold and silver coin and bullion in the country on
December 31, 1914:
Classification.
In public
treasuries.
In banks.
In circulation.
Gold ocin . . . . .
1 £8,070,427
($39,274,733)
4 £29,362
($142,890)
2 £9, 660, 467
($47,012, 663)
& £20,087
($97,753)
(»)
Gold hill 1 inn .
(*)
Cilwar "Kvillinn _ _ _ ..........
£570
($2,774)
Total .
8, 100,359
($39,420,397)
9,680,554
($47,110,416)
i Includes £8 013,427 ($38,997,343), held by the Australian Commonwealth treasury against its note issue
of £20 256 318 ($98,577,372), being a percentage of 39.555, and £57,000 ($277,391) held by Melbourne mint.
s £8 694 186 ($42 310,256) held by private banks, including silver coin, of which no record is kept by such
banks; £146,740 ($714,110) held by Victorian Government Stato savings banks; and £819,541 ($3,988,296)
held by the Commonwealth Government Bank.
3 No statistics available, but officially estimated at 10 shillings per head of population of 1,430,87 8, or
£715,439 ($3^481^84).
6 Ileldby Victorian State Government banks and Commonwealth Government Bank.
8. Government and bank notes outstanding at the end of the year 1914 :
. Designation.
Notes out¬
standing.
Gold holdings.
Legal-tender
silver holdings.
1 £20,256,318
($98,577,372)
109, 476
($532, 765)
£8,013,427
($38,997, 343)
109, 476
($532, 765)
None.
None.
TYitAl .
20,365,794
($99,110,137)
8, 122, 903
($39,530, 108)
1 Total Government notes outstanding in the whole of Australia; those in the State of Victoria alone
can not be given.
OPERATIONS OF THE MINT SERVICE.
197
10. Laws passed during 1914 affecting the currency:
(Rented to D’ec 2M9i4^ BeCti°n 6 °f the Australian notes ■*
21^914)°' 24’ °f 1944’ ^ amend the Commonwealth Bank act, 1911 (assented to Dec.
Act No. 33, of 1914, to authorize the issue of treasury bills (assented to Dec. 21 1914)
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Bullion.
Coin.
Ore.
Coin.
Bullion.
Coin.
Bullion.
Ore.
United Kingdom.
New Zealand. . . .
United States....
TTrmPrknner
£2,209
50,000
£1,298
£136,216
£3, 156
£10,500
£14,654
80
£787
£167,796
6
14
109,578
11
23,200
228
Srmtn Afrioa
25
Phmo
Prcinno
18
Anrm qtiv
192
37,272
Japan .
i,200
Total .
167,802
($816,608)
186,426
($907,242)
1,490
($7,251)
136,216
($662,895)
3,170
($15,427)
10,543
($51,308)
14,734
($71,703)
38,059
($185,214)
TASMANIA.
Answers to interrogatories , 1914 .
1 and 2 (a and b). The mint for Australia is located at Melbourne; the report from
there should be ample. No money coined in Tasmania.
3 No official data. Amount used too small to be considered.
5* 7N8
^ld e5ported $“>813 40 Ellice Mand’ Un
K l^^No imports or exports of silver.
NEW ZEALAND.
Answers to interrogatories , 1914.
Sli
01 i m A •
Classification.
K.nv.reo.n* and otbe, coined :
i silver bullion . . . —
*28,327,406
198
REPORT OF THE DIRECTOR OF THE MINT.
8. Bank notes outstanding at the end of the year 1914:
Designation.
Notes in
circulation.
£2.614,231/8/11
($12,722, 155)
9. There is no premium on gold. .
10. Laws passed during 1914 affecting the currency or banking: An act to amend
the banking act. 1908, enacted August 5, 1914; also an act enacted August 7, 1914;
three proclamations, dated August 5. September 4, and October 5, 1914, declaring
notes of certain banks to be legal tender; an order in council issuing additional regu¬
lations under the war regulations, October, 1914; and a proclamation declaring notes
of certain banks to be a legal tender for a further period. . . .
11. A copy of the report made to Parliament by Hon. W. Fraser, minister of mines,
forwarded. , , . , , , ,
12 (a and b). Imports and exports of gold and silver during the calendar year 1914:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Bullion.
Ore.
United Kingdom.
Australia .
£21,000
653,000
£5,122
£150,519
708,659
£8,980
27,238
£6,900
27,100
£155
159
£16,472
3,171
39,263
£2,517
662
T?nntiin(T TcloYin
1,000
AfimnnTT
57
Society Islands...
Total .
99
1,400
674,099
($3,280,503)
7,522
($36,606)
859,178
($4,1S1,190)
36,275
($176,532)
34,000
($165,461)
314
($1,528)
58,906
($286,666)
3,179
($15,471)
PART II.
REPORT OF THE DIRECTOR OF THE MINT ON THE
PRODUCTION OF THE PRECIOUS METALS
IN THE UNITED STATES DURING
CALENDAR YEAR 1914.
*
REPORT ON THE PRODUCTION AND CONSUMPTION OF GOLD
AND SILVER IN THE UNITED STATES DURING THE CALEN¬
DAR YEAR 1914.
The official estimate upon the production of gold and silver in the
United States is made by the Bureau of the Mint and the Geological
Survey working in conjunction, the latter making a mine canvas in
each State and the former working backward from mint deposits
through refineries, smelters, and other reduction works to the figures
of the* mine production made by the survey. The two systems thus
verify and support each other. ...
The gold production of the United States, including its insular
dependencies, for the calendar year 1914 is estimated to have been
$94,531,800, and the production of silver is estimated at 72,455,100
fine ounces. .... . . .
The output of gold in the United States, mcludmg its outlying
territories in 1914, exceeded that of 1913 by $5,647,400. Of this
excess $1,300,000 was from Alaska, nearly $1,800,000 from Colorado,
and $1,000,000 from California. Gains and losses on other sections
were unimportant. . . , ,
The construction of a Government railway into Alaska is looked
forward to as a step likely to have great influence upon future devel¬
opments in that Territory. Otherwise there is nothing m sight upon
which to base a prediction as to an expansion or falling oil of mining
operations except that the effect of the European war in controlling
copper and lead production will have the incidental effect of reducing
the yield of gold and silver from copper and lead ores
A brief review of mining conditions in each State follow s, for which
acknowledgment is made to the Geological Survey.
ALASKA.
The certainty of raUway «nne< „ ‘ft
and"search for gold deposits in Alaska
during 1914. Juneau <mld belt continues to overshadow all
or being installed. 1 here was wsom Sound region. The
£& ^ both* copper*3 ami gold fri ^ “
industry. There was indeed p jnsuja districts and from smaller
increase was due to the e.ploitat.on
‘202
REPORT OF THE DIRECTOR OF THE MINT.
of bonanza placers That in themselves do not necessarily give promise
of large operations. The Fairbanks placer gold production is gradu¬
ally declining, nor is it likely that permanent inprovement of placer-
mining industry in this field will take place until lower operating
costs are brought about bv improved methods and by cheaper fuel
and transportation. On the other hand, there was an increase of
gold dredging on Seward Peninsula, and in other placer districts there
was much prospecting of dredging ground.
The discovery of two new districts believed to carry placer gold
caused some excitement in 1914. Oue lies in the headwater region
of Tolovana. where the prospecting so far done has given encourage¬
ment to the miner. The other is in the lower Healy River Basin,
where, although some placers appear to have been found, the outlook
for any considerable mining is reported to be not encouraging.
The value of the gold produced in Alaska in 1914 is estimated at
$15,764,259 and of the silver at $2 IS. 327.
In 1914 about 32 per cent of the total sold production came from
lode mines, compared with 31.6 of gold output credited to lode
mines in 1913. In 1912 it was 29 per cent of the total. This indi¬
cates a gradual transition from placer to lode mining.
Alaska's auriferous lode mines produced during the year cold
valued at ?4.S63.02S. compared with an output of gold valued at
$4.S14.S13 in 1913. These mines made an output of 2 >.254 fine
ounces of silver in 1914. and of 30.S97 ounces in 1913.
Twentv-c Lght gold lode mines, including several properties which
made only small outputs, were operated the whole or a part of the
year 1914 in Alaska — two less than in 1913. Work was also done
bn many gold prospects, some of which produced a little gold. Of
the producing mines 9 were in southeastern Alaska, 8 on Prince
William Sound. 4 in Kenai Peninsula. 3 in the Willow Creek district,
and 4 in the Fairbanks district. It is estimated that these mines
had an output of 1 .738.127 tons of ore. compared with 1 ,614.506
tons in 1913. In 1913 the average value of the gold and silver con¬
tent for all the ores mined was 82.99 a ton: the average for 1914 was
$2.80.
There were 144.625 fine ounces of gold and 18.062 fine ounces of
silver recovered by amalgamation, and 90.363 ounces of gold and
9.561 ounces of silver recovered by cvanidation in 1914.
The value of the placer gold produced in 1914 is estimated at
$10,730,000; that of 1913 was $10.6s0.000. As compared with 1913
there was a decrease in the placer gold output from Fairbanks. Koyu-
kuk. and Forty mile districts, and an increase from Ruby and Seward
Peninsula districts, as well as from some of the smaller camps. It
is estimated that about 730 placer mines were operated in 1914 —
many for only a part of the season — compared with 700 in 1913.
Forty-two * gold dredges were operated for the whole or a part of
the mining reason in 1914. Of those 39 were located on the Steward
Peninsular 2 in the Iditarod district, and 1 in the Fairbanks district.
It is estimated that these dredges handled 4. 450,000 cubic yards, and
make a polo, recovery oi S2.350.CVT0. The average gold content per
cubic vary: of the gravels mined is 50 cents. In 1915 there were 56
gold dredge- operated, which handled about 4,100.000 cubic vards.
having a value of $2,200,000.
1 N a a la ton*** Ii T«t Si
PRODUCTION OF THE PRECIOUS METALS.
203
Some attempts at gold dredging were made in Alaska as early as
1900. This form of mining did not, however, reach a profitable stage
until about 1903, when two small dredges were successfully operated
in the Seward Peninsula. In 1907 a dredge was installed in the
Fortymile district, the first in the Alaska Yukon. Up to the close
of 1914 gold to the value of $10,100,894 had been mined in Alaska
by dredges.
Deposits of bullion at the mints and assay offices credited to Alaska, calendar year 1914-
Locality.
Gold.
Silver, fine
Fine ounces.
Value.
ounces.
Chisana .
6. 337
5131.00
1.30
Circle .
5,857. 176
19,061.781
24,657. 847
2,487.765
9,652. 404
381.209
121,078. 57
394,041.98
509, 722. 93
51,426. 67
1,240. 28
Cooks Inlet .
2, 199. 55
4,709.42
Copper River .
Eagle .
491.70
Fairbanks .
199,532.90
7,880.29
1,396,740.81
227. 49
1,652. 60
14. 73
Hammond River .
Iditarod .
67,567. 337
11.005
10,851.02
.99
Kangarock River .
Kayukuk .
7,222.600
23. 670
149,304.39
489.30
501.22
Kodiak Inlet .
9.75
Kowkow Creek .
4. 194
86. 70
.56
Knlm m Gulch .
4.398
90.91
1.04
Kuskokwim .
194. 514
4,020. 96
32,498. 13
2, 761,868.47
2,011.99
515. 76
14.97
Nizini .
1,572. 097
133,605. 440
97. 330
156. 13
Nome .
15,426.23
13.59
Quinhagak .
Ruby .
24.950
5.28
Southeast Alaska .
178,290. 726
44,484.078
3,685,596. 43
919,567. 50
19. 84
17,635. 33
Tan ana . .
7, 125. 05
Teller . .
.960
.08
White River .
26. 325
544. 19
6.06
Yukon
35, 126. 237
4,280.506
726, 123. 76
8,332. 97
Unknown . . . - . .
88,485. 91
624. 47
Total .
534,640. 886
11,052,006.88
71,014.32
ARIZONA.
The mine production of both gold and silver in Arizona increased
in 1914.
The gold output amounted to $4,179,155 — an increase of $155,244.
Of this over $3,000,000 was derived from siliceous ores — an increase
of over $400,000. The quantity of gold recovered from copper ores
in 1914 was $1,051,014, or nearly $300,000 less than in 1913. The
output of placer gold was approximately $30,000.
The largest production of gold was from Mohave County, which
showed a small increase. Cochise, I avapai, and Maricopa Counties
yielded most of the remainder of the output of gold.
Gold from ores am&lgfim&tcd amounted to $259;063> and fiom oics
cyanided $2,157,080.
The concentrates shipped, which were mainly copper concentrates,
contained nearly $320,000 in gold, and the crude ores shipped to
smelters about $1,410,000. . -
The silver output was nearly 4,400,000 ounces, an increase of more
than 400,000 ounces. Of the 1914 production of silvei 60 per cent
was derived from copper ores, 26 per cent from siliceous ores, and 1
per cent from lead ores. . i
The largest part of the silver, or 75 per cent was! from cn de ores
shipped to smelters. Concentrates contained less than 10 per cent,
204
REPORT OF THE DIRECTOR OF THE MIST.
and bullion from gold and silver mills 14 per cent, llie most notable
change was the largely increased yield of the silver derived from gold
and silver ores treated by eyanidation.
Cochise Countv produced 63 per cent of the silver and 1 avapai
Countv IS per cent. The yield of no other county in Arizona ex¬
ceeded 300.000 ounces.
In 1914. as in 1913. the Tom Reed, Gold Road, and \ tilture mines
were the largest producers of gold. Copper ores were the principal
sources of the silver, but the yield of silver from siliceous ores was
much larger in 1914 than it was in 1913. One of the most prominent
of the producers of silver from siliceous ore was the Commonwealth
mine in Cochise County. If the output of copper ores had not been
reduced during the last half of 1914 the increase of gold and silver
would have been greater than it was.
The average value per ton of the gold and silver recovered from
copper ores in 1914 was 33 cents, and the average recovery per ton
from siliceous ores was $5.46.
CALIFORNIA.
The total yield of mine gold in California in 1914 was $20,653,496,
an increase of $246,338 over that of 1913. With the exception of
one year (1SS3) the mine gold output of the State in 1914 was higher
than it has been since 1S64 — 50 years ago.
In 1914 there were 65$ properties reporting production, of which
31$ were deep mines and 340 placers. The producing deep mines
may be classified by metal product as follows: Gold, 277 ; copper. 19;
silver. 7: silver-lead, 6: and lead, 9. Of the placer mines 105 were
hydraulic, 60 dredges, 70 drift, and 105 sluicing or surface placer
mines. .
The siliceous ore yielded an average per ton m gold and silver of
$5.52; the copper ore, $1.$4: the silver ore, $$1.$6; the silver-lead
ore. $17.03; and the lead ore, $15.$$. The average per ton in gold
and silver from all ores treated iu the State in 1914 was $5.02.
In 1914 there were treated in gold and silver mills in California
1,993.521 tons of ore. containing altogether $10,743,207 in gold and
$91,327 in silver. This gives a total value of $10,534,534 in gold and
silver, or an average per ton of $5.44 in both metals. FronT this ore
was derived 46.072 tous of concentrates, which yielded in gold and
silver $2,197,205. or an average of $47.69 per ton.
The 340 productive placers in California yielded $9,050,549 in gold
and $19,257 in silver, a total of $9,100,136. which is an increase of
$242,590 from this source over the yield of 1913. The dredge yield
fell off $306,900 in gold, but there was an increase iu total output
from the hydraulic, drift, and surface placets of $551,572 in gold, or
$244,672 more than the decrease in the dredge yield. Of the total
placer sold the 60 dredges yielded 56 per cent:' the 105 hydraulic
mines. 5 per cent; the 70 drift mines. 3 per cent; and the 105 surface
or sluicing mines, 3 per cent. The dredges in the State produced 35
per cent of the total gold yield from all sources. The placers pro¬
duced 44 per cent of the total gold yield, for 1914, and the deep
mines 56 per cent. Those average percentages have changed very
slightly for several years past. There are now 60 sold dredges oper¬
ating m the State, and since the commencement of dredging in Cali-
PRODUCTION OF THE PRECIOUS METALS.
205
fornia in 1898, tko total gold yield from this source to the end of
1914 has been more than $71,300,000. The three principal dredging
fields in the State are at and near Marysville, Yuba County, with a
dredge gold yield in 1914 of $2,755,734; at and near Oroville, Butte
County, with a yield in 1914 of $1,637,515; and at Folsom, Sacra¬
mento County, with a yield in 1914 of $2,161,653. Dredges are also
in operation in the counties of Calaveras, Merced, Placer, Shasta,
Siskiyou, Stanislaus, and Trinity.
Of the 30 counties producing gold in California in 1914, 7 yielded
over $1,000,000 each, as follows: Nevada, Amador, Yuba, Sacra¬
mento, Butte, Calaveras, and Shasta. The leading gold-producing
county in the State in 1914 was Nevada County with a gold output of
more than $3,300,000. The leading hydraulic-mining county was
Trinity; the county producing the greatest amount of gold from
drift mines was Placer; and the leading dredge-mining county was
Yuba.
Of the total ore milled in California from deep mines, 1,243,529
tons, or 62 per cent, came from the mines in the five Mother Lode
counties of Amador, Calaveras, El Dorado, Mariposa, and Tuolumne.
This ore yielded, on an average, in gold and silver, $5,075,552, or
$4.08 per ton.
The mine production of silver in California in 1914 was 1,471,859
fine ounces, valued at $813,938. Of this 1,436,982 ounces was won
by deep mining. The larger part of the output, 1,267,752 ounces,
was derived from crude smelting ore. The greatest output was made
as usual by Sbasta County, wbero the yield from the smelting of
copper ores was 592,727 ounces; from sdiceous ore, 33,220 ounces,
and from placers, 1,007 ounces; a total for the county of 626,954
ounces, valued at $346,706. Inyo County follows Shasta m the pro¬
duction of silver, with an output of 466,575 ounces, mainly from
silver ores and silver-lead ores. There were 7 silver mines worked in
the State in 1914— more than in many years. The 6 silver-lead
mines in the State produced 448,054 ounces. Only a small amount
of silver (34,877 ounces) was obtained with the placer gold ot the
The two largest gold-producing deep-mine camps in the State are
Grass Valiev (including Nevada City), and Jackson (including Sutter
Crook) in Amador County, and it is the productiveness of these two
districts that gives Nevada and Amador first and second rank, re-
snectivelv in the quantity and value of gold produced in 1914.
The largest o-old-producing mines on the Mother Lode are in the Jack¬
son district? where the 387,602 tons of ore were treated in 1914,
vieldin0, an average of $5.48 per ton. In the Grass Valley and Ne-
™dn ditv districts, 267,618 tons of ore were treated, yieldmg an
average m *11.30 per ton in gold and silver.
COLORADO.
Colorado mines during 1914 produced $19,883,105 in gold and
S 796 065 ounces of silver, compared with $18,146,916 in gold and
o’325255 ounces of silver in 1913. This shows an increase of
$1,736,189 in gold and a decrease of 529,190 ounces in silver.
rrhe Globe, Lead ville, Pueblo, Durango, and Salida smelters were
operated continuously on ore from British Columbia, Canada, Colo-
206
REPORT OF THE DIRECTOR OF THE MINT.
rado, Idaho, South Dakota, and other States, including a consider¬
able tonnage of zinc residues from Kansas and Oklahoma zinc smel¬
ters. The copper-matting plant at Ouray was operated steadily
during the year and construction work on a 200-ton addition to the
plant was completed early in 1915. Cyanide precipitates and cop¬
per ore were shipped to Omaha and copper ore and copper matte
were shipped to Ltah plants.
Cripple Creek produced 60 per cent of the total gold yield of the
State, with a yield of §11,996,116, as compared with §10,905,003 in
1913. This is the largest production for any one year since 1908.
Cripple Creek, to the end of 1914, has produced §258,786,653 in
gold. The Roosevelt Tunnel continued to lower the water level
gradually, except in the Vindicator and Golden Cycle mines, where
electric pumps, installed in 1913, are used. In July, 1914, prepara¬
tions were completed for continuing the tunnel to the Vindicator-
Golden Cycle territory — an addition of 10,250 feet — and from August
3 to November 4, when the El Paso plant was destroyed by fire and
the work in the tunnel stopped, the heading had been advanced 270
feet. Work was resumed March 2, 1915.
The Golden Cycle and Portland cyanidation mills at Colorado
Springs were operated steadily with a considerably increased output.
Cyanide mills in the district also made an increased yield. The
Union cyanidation plant at Florence and the United States Reduc¬
tion & Refining Co.’s chlorination and cyanidation plants at Colorado
City were idle. An attempt was made to cyanide the old dump of
the Metallic Co. at Florence. The tonnage of concentrates and smelt¬
ing ore from Cripple Creek increased appreciablv.
Lake County (chiefly from Leadville, but also from the Lackawanna
Gulch and St. Kevin districts) produced §1,571,451 in gold and
3,810,830 ounces of silver, against §1,023,631 in gold and 3,400,318
ounces of silver in 1913.
Lake County (including Leadville placers and deep mines, placers
on Arkansas River and tributaries included in Lake County, deep
mines of St. Kevin and Lackawanna Gulch districts) has produced,
from 1860 to 1914, §6,165,905 placer gold, §36.640,591 lode gold, and
215,212,688 ounces of silver, with a commercial value of §176.628,520.
The San Juan region of Dolores, La Plata Ouray, San Juan, and
San Miguel Counties produced, §3,969,857 in gold and 2,515,437
ounces of silver in 1914, compared with $4,071,683 in gold and
2,769,077 ounces of silver in 1913.
There was an increase in gold of $252,616 in Ouray County, but
decreases of §186,393 in La Plata, §149.135 in San Juan, $14,455 in
San Miguel, and §4,459 in Dolores. There were increases for silver
of 229,365 ounces in San Miguel and 56,655 ounces in Ourav. but
decreases of 386,492 ounces in San Juan, 92,290 ounces in Dolores,
and of 60,878 ounces in La Plata. Ouray County, because of in¬
creased production at the Camp Bird, the steady production of the
Wanakah miU and copper matt mg plant, and the successful applica¬
tion of flotation to the Atlas ores, showed appreciable increases for
gold, silver, and copper, and a small decrease for lead.
The output of placer gold from dredges and other placer operations
at Breckenridge. Summit County, was $608,567, as compared with
$386,196 in 1913, and the vield of considerable high-grade ore from
pocket mines at Breckenridge and the gold in smelting ore and con-
PRODUCTION OF THE PRECIOUS METALS.
207
cent rates from Kokomo, Breckenridge, and Montezuma, gave a total
yield of gold for the county of $668,610, as against $462,228 in 1913.
The number of mines producing metals in 1914 was 866, of which
36 were placers, as against 858 mines, of which 29 were placers, in
1913.
In 1914 there were sold or treated 2,677,526 short tons (mostly
dry weight) of ore mined in Colorado, a decrease of 57,340 tons from
the output of 1913. Of this total, 1,645,640 short tons (mostly dry
weight) went to gold and silver mills, 363,743 tons (mostly dry
weight) went to mills for concentration only, and 668,143 dry tons
went crude to smelters; 188,770 dry tons of concentrates also went
to smelters.
CENTRAL STATES.
The production of silver in the Central States in 1914 was 482,983
fine ounces, valued at $267,089, as compared with 335,634 fine ounces,
valued at $202,723, in 1913. Nearly all the silver that is produced
in the Central States is recovered incidentally to the production of
other metals. Of the 1914 production, 413>500 ounces came from
the copper lodes of Michigan, an increase of 118,32/ ounces, resulting
from a much larger copper output. About 25 per cent of the con¬
centrates from lead ores mined in southeastern Missouri were desil-
verized and yielded nearly all tlie production of silver froni tliat
State recovered in 1914; a small output of silver was also derived
from copper ore, and the total recovery from Missouri amounted to
61 168 ounces. A few ounces of silver were also obtained m 1J14
from copper ore shipped from Lafayette County m Wisconsin.
The lead-zinc-fluorspar deposits of the Kcntucky-lflinois field ako
carry silver, and from the lead concentrates derived from Illinois
oiio omlCes of silver were recovered, a decrease of 1,429 ounces.
The onlv productive silver mine in the Central States in 1914 was one
near°Byars° in*5 McClain County, Okla. winch produced ore that
yielded 6,187 ounces of sdver, valued at
IDAHO.
In 1914 there was a notable increase aiM a record product, on of
silver in Idaho, but a decrease i th » $1,344,559 in 1913 to
3P15° in m 4, or fetf* The gold X
valued at $700,454; that deduced bydredg^g- Boise Countv
placer gold, 80 per cent was p o J j County followed with
led in gold output with $601,227, ana mogt of the dredging is
$305,991. These are the counties 1 ■ drcdging f0r the period
done. The total gold recovered in ldal W been more than
1897 to 1914, inclusive, is est recovered during the
$2,900,000, of which more than ha t has o bum0n by amal-
the last three years, The gold output tn ^ from concentrates
gamation and cyamdation was rc smelted 6,406 ounces. Siliceous
3,168 ounces, and from cruc c jd COpper ores 2 per cen ,
• sr.wi 3»« —
;es, valued at S>o,uoo,‘±<
ires
A
lunces
208
REPORT OF THE DIRECTOR OF THE MINT.
at $6,901,172, in 1914. This increase of 25 per cent was credited
almost entirely to the Cocur d’Alene region. Concentrates supplied
8,845,309 ounces of silver, crude ore 3,612,369 ounces, and mill
bullion only 14,767 ounces. Nearly 70 per cent of the silver came
from lead ores, 28 per cent from lead-zinc ores, less than 2 per cent
from copper ores, and only 39,002 ounces from siliceous ores. Sho¬
shone County produced 97.59 per cent of the total. The Hunter
district, at Mullan, supplied 1,057,347 ounces; the Lelande district,
at Burke and Mace, 5,565,372 ounces; and the Areka district, at
Wardner, 4,887,926 ounces. . .
There were 386 producing mines in Idaho in 1914, against 384 in
1913. Of these, 176 were deep mines and 210 were placers. Ore
sold or treated in 1914 aggregated 2,235,349 tons, against 2,451,592
tons in 1913. Of the total, 2,066,361 tons were concentrated, mak¬
ing 303,046 tons of concentrates. Only 34,861 tons was treated by
gold and silver mills; 130,512 tons were crude ore smelted. Most of
the material was smelted outside the State, as but one smelter was
operated — that at Clayton, in Custer County.
MONTANA.
Montana’s mine yield of gold, silver, copper, lead, and zinc in
1914 was valued at nearly $48,000,000, against $61,900,000 in 1913.
The decrease was due principally to the curtailment of the copper
output caused by the European war, which affected prices and the
State production. .
The gold produced in Montana from placers and from ores m 1914
was valued at $4,117,911, against $3,493,432 in 1913. Of the gold
produced, 61.04 per cent was obtained from dry or siliceous ores.
The placers yielded 22.88 per cent and the copper ores yielded 12.76
per cent. The value of the placer gold produced in 1914 was $942,21 7 ,
of which more than $835,000 was obtained by the operation of five
laro-e dredging machines. The gold from placers in 1914 was about
$140 000 greater than in 1913 and that obtained from deep or lode
mines increased $483,000. Cyanidation and amalgamation nulls
produced bullion containing nearly $820,000 in gold; concentrates
recovered at concentration mills produced $553,400; and crude ore
shipped to smelters contained $1,802,850.
The production of silver in Montana in 1914 was approximately
12 000,000 ounces, a decrease of 1,800,000 ounces. Of the total
yield of silver in 1914 over 66 per cent came from copper ores and
10 per cent came from dry or siliceous ores. The decrease of silver
from copper ores was over 2,000,000 ounces. Cyanidation and
amalgamation mills yielded bullion containing about 1 per cent of
the suver; concentration mills produced concentrates containing 69
ner cent- and crude ore shipped to smelters contained 29 per cent.
Silver Bow County produced 87.47 per cent of the silver produced
in 1914 against about 90 per cent in 1913. .
The ore producers in Montana numbered 358 in 1914 agamst 431
in 1913 and the number of producers of placer gold was 147 against
128 in 1913. The total quantity of ore mined and treated was
5,128,956 tons, of which 4,346,034 tons were copper ores, yielding an
average value in gold and silver of $1.14 per ton.
PRODUCTION OP THE PRECIOUS METALS. 209
. Hilifoou.s orf, treated amounted to 342,085 tons, averaging
$9.37 per ton in gold and silver. - b
The lead and lead-zinc ores contained very little gold, but a con¬
siderable quantity of silver.
Gold dredging was first commenced in Montana in 1896, and the
total estimated recovery up to and including the year 1914 has been
approximately $6,600,000.
NEVADA.
The production of gold, silver, copper, lead, and zinc from Nevada
ores sold or treated in 1914 was valued at $29,300,842.
The output of recoverable gold from Nevada mines in 1914 was
valued at $11,481,188, and of this amount 87.29 per cent was derived
from dry or siliceous ore and 9 per cent from copper ores. '\ he
placer gold output was 18,250 ounces, of which 10,345 ounces came
from piacer mines in Nye County. Bullion from gold and silver
mills contained 79 per cent; concentrates about 8 per cent; ami
crude ore shipped to smelters 10 per cent. The mines of Esmeralda
Conn tv nroduced nearly one-half of the total gold, of which the
Goldfield district yieldeif *4,705,000. Nye County prod^d^S'V
ten, mite “
order named, each product c mo silver output of Novada had
For three years prior to 914 low prices of the
been steadily increasing, 1 1014 there was a slight decrease m
metal in the last half of 'the > ye ounces valued at $8,546,887.
silver. The total output w“ l?’*™’4c„dit«d to siliceous ores. Ores
Of this total yield 95.3 P»r c n • ., 12,100,000 ounces; conwn-
sa?
-a 3 ‘
treated, 1,461,577 t 193 tons were con“ shipped to several
STi 26$?8 tons Manage, or
smelters. The largest part^o ^ tons were sdiceo’us ore;
represented copper °^c1^e; 3,762 tons copper-lead
lead ore; 9,490 tons a ’ average value
tons lead-zinc ore. . d in 1914 yielded an ^ cents r t0n,
The siliceous ores treaty th® copper ^ $3 96 per tom
$11.39 per ton m gold ^ and the le^"Z-£creased about ^2,°^
the lead ores $13.13 ] pi from placers nfj gg per cent ,
The production of g^fr J output^ orcs treated hy
, of excaption^rul
^l4Xl Kopment .aL active and
9760°— 15 - 14
210
REPORT OF THE DIRECTOR OF THE MINT.
milling plants was general throughout the State. Silver and copper
camps made a reduced output during the latter part of the year.
This condition was due entirely to lower metal prices and not to the
lack of any essential supplies like cyanide. The number of milling
plants using the straight cyanide process increased, as was to be
expected, and no gold was recovered in 1914 by chlorination.
NEW MEXICO.
In 1914 the production of metals from New Mexico mines showed
an increase in gold, silver, copper, and zinc, and a decrease in lead.
The mine output of gold was $1,171,696, an increase of $289,770;
that of silver was 1,777,445 ounces, an increase of 146,172 ounces.
The Mogollon district, Socorro County, 80 mile3 from the nearest
railroad, at Silver City, Grant County, continued to be the most
productive district in New Mexico in output of gold and silver.
The gold output of the district in 1914 represented 54 per cent of
the State’s production of this metal, and the silver output was 79
per cent of the State’s total silver output. AH the ore was milled in
the district by concentration, sliming, and agitation and percolation
in cyanide solution, the bulk of the product being cyanide precipi¬
tates, though there were several cars of high-grade gold-silver con¬
centrates. In terms of recovered metal, the ore averaged per ton
0.2236 ounce, or $4.62 in gold, and 10.36 ounces, or $5.73 in silver.
Pinos Altos district, Grant County, became the second in gold
output, with a yield of more than $135,000 in gold from both placer
and deep mines, the yield increasing heavily from both sources.
Some exceptionally high-grade gold ore was shipped from this dis¬
trict in several lots of a ton or less each. This district produces also
silver, copper, lead, and zinc. There was an increased output of gold
bullion from the amalgamation mill on the North and South Home-
state mines, at Whiteoaks, Lincoln County. This district has yielded
a large quantity of gold. The Elizabethtown district, Colfax County,
one of the leading mining districts in New Mexico in total production
to date from both placers and lode mines, made a heavily increased
output of gold in bullion, smelting ore, and concentrates from the
Aztec mine. With only a slightly increased placer yield, this district
in 1914 gave way to Pinos Altos as the principal placer district. The
Lordsburg district, Grant County, with heavily increased shipments
of siliceous -gold and silver bearing copper and dry ores from fissure
veins, doubled its gold output and increased its silver yield over 50
per cent. During 1914 gold was found in the concentrates of the
Chino Copper Co. in amounts sufficiently large to be credited under
their smelting contract with 2.71 cents per ton of original crude ore
treated or 0.1 cent per pound of copper produced, amounting in the
aggregate to a considerable quantity of gold. A decrease of over one-
half in the output of gold-copper ores from the Jarilla district, near
Orograde, Otero County, did not however decrease the yield of gold
in the same proportion, as the average content in gold was higher in
1914. The mines and matte smelter of the Santa Fe Gold & Copper
Co., at San Pedro, Santa Fe County (reopened in July, 1912, after
being idle since 1907), were operated for only one month in 1914 as
compared with 10£ months in 1913, so that there was a decreased
output of gold from this district. The districts of Sierra County
PRODUCTION OF THE PRECIOUS METALS. 211
made only a small production. The Cochiti (Bland) district Sando-
^al County inactive since 1904, but with a record from 1894 to 1904
onenePdrinDtl0n K ?•*** and *345,000 in si Iver, was vt
i n n 1,?1f and ln September, 1914, an 100-ton cyani-
ciation plant was installed and operated tlu*oughout the year onono-
liah capacity, with some output of gold-silver cyanide precipitates.
Siliceous ores amounting to 169,046 tons, yielded 77 per cent of the
gold and 82 per cent of the silver, and copper ores amounting to
2,005,024 tons contained about 20 per cent of the gold and nearly 17
per cent of the silver.
OREGON.
The value of the gold, silver, copper, and lead produced at mines
in Oregon in 1914, according to Charles G. Yale, of the United States
Geological Survey, was $1,676,153, compared with 81,746,402 in 1913,
and $849,885 in 1912, and a decrease of $70,249 from the value in
1914. There was a decrease in the output of all metals in 1914 and
also in the number of producing mines.
The gold production was $1,591,461, of which 81,043,144 came
from deep mines and $548,317 from placers.
The decrease of gold from the deep mines was $133,938, and the
increase from the placers was $97,689. .
The placer mines of the State produced $548,317 rn goM m lOH,
an increase of 2 1 .68 per cent. The hydraulic mines yielded $ 1 78,899
in sold in 1914, the drift mines $4,426, and the surface placers and
dredge combined $364,992. Only one (Ireilge was in operation but
the gold from this dredge far exceeded the combined yield of all other
forms of placer mining in the State. In 1914 there were m operation
in Oregon 56 productive hydraulic mines, 6 drift mines, and 15 surface
placers (including a dredge), 77 in aJl— a decrease of 51.
From 28 deep mmes (a decrease of tt) of this
mined &nd trc& * *n i 19 ei ^ tons were sent to concen-
quantity 106,422 tons were milled, 12,815 tons were^ ^ ^ ^
trating mills, and 4,o94 tons wen s ^ ?6 per ton. The average
tons of old tailings treati , „ ^ in 1914 was $8.99 per ton in
recovered value from the sihc ? . 4913 and $6.84 in 1912.
gold and silver, as perton from both bullion
In miUing the in silver
and concentrates was $9,299 m g Q including Coos, Curry,
The southwestern counties oi g -lded a combined produc-
Dougi^, J^kson^Joseghm^, ^ in ’silver. The increase in go r
output in 1914 as compared . with A913 ! ’^rant, Malheur, and
In the northeastern counti^-Ba^ , of S1 ,431,376, of which
Wheeler— there was a combined gw l J The placer gold yield
Bakrr County conmbuW ,27,768. The gold From lode
in.191t,"“iS024,696m 1914. a decrease of S d 142,552 fine
SSStjs2<2z tSS-ZhS*-
nominal.
212
REPORT OF THE DIRECTOR OF THE MINT.
There are very few largo mining operations in Oregon, most of the
properties being comparatively small producers.
The mines of the State that yielded an output valued at more than
$100,000 were the Cornucopia Mines Co. of Now York, the Columbia
Mining Co., and the Commercial Mining Co. (Rainbow), all deep
mines, and the Powder River dredge. Aside from the dredge, only
one placer mine in the State yielded over $10,000 in 1914.
GOLD AND SILVER PRODUCTION OF PHILIPPINE ISLANDS.
The production of gold in the Philippine Islands during tho year
1914 is placed at 53,179 fine ounces, of the value of $1,099,300, and
of silver at 10,300 fine ounces.
The deposits at the mint in San Francisco amounted to 36,780.614
fine ounces of gold, valued at $760,322.77, and of silver to 6,042.96
fine ounces.
SOUTHERN APPALACHIAN STATES.
The combined gold production of Alabama, Georgia, North Caro¬
lina, South Carolina, Maryland, Tennessee, and Virginia in 1914 was
$173,589, against $165,730 in 1913. North Carolina again ranked first
with $131, 141, an increase of nearly $4,700. Georgia produced $16,270;
Alabama, $11,970; South Carolina, $7,360; Tennessee, $7,360; and
Virginia and Maryland, less than $500 each.
The production of gold was almost entirely from quartz ores and
from placers, as only 327 ounces, of which nearly all was contributed
by Tennessee, was derived from copper ores.
The gold production from 45 placer mines was less than $20,000,
and a largo part of the deep mine gold came from a few mines — the
Iola, Uwarra, Howie, and Rich Cog in North Carolina, tho Hailo
in South Carolina, and tho Hog Mountain in Alabama.
The silver production of the Southern Appalachian States in 1914
was 98,928 ounces, against 109,170 ounces in 1913. Less than 2 per
cent of the output was derived from siliceous ores and placer mines.
All tho remainder came from copper ores, mainly from the Ducktown
district in Tennessee.
Tho following tables give tlio total production of gold in tho
southern Appalachian States from the discovery of the metal to the
end of 1914 and tho yearly output of each State, so far as records
are available. The figures given are those of the Bureau of the Mint
for the period 1799 to 1904 and those of tho United States Geological
Survey for the period 1905 to 1914.
The total yield of gold from 1799 to the end of 1914 is $50,6S9,56S,
as shown in tho following table:
Value of estimated production of gold in the southern Appalachian States, 1799-1914, by
States.
Alabama .
Georgia. v .
Maryland .
North Carolina
South Carolina,
$749,384
17, 752, 627
71,339
23,410,357
5,176,237
Tennessee
Virginia . .
$230,217
3, 293, 407
Total,
50, GS9, 568
PRODUCTION OP THE PRECIOUS METALS. 213
Estimated production of gold in Alabama in 1830-1879 and annually since 1880.
Year.
Value. Year.
Value.
Year.
Value.
Year.
Value.
1830-1879 .
$365,300
1,000
1,000
3.500 ;
6,000
5,000
6,000
4,000
2.500
5,600
1889 .
$2,639
2, 170
2,245
2,419
6,362
4,092
4,635
6,495
8,455
6,578
1899 .
$4,766
2,618
3,773
2,938
4,894
29,288
41,530
24,921
25,982
41,208
1909 .
$29,239
33,533
18,916
16,724
11,094
11,970
1880 .
1890 .
1900 .
1910 .
1881 .
1891 .
1901 .
1911 .
1882 .
1892 .
1902 .
1912 .
1883
1893 .
1903 .
1913 .
1884
1894 .
1904 .
1914 .
1885
1895 .
1905 .
Total....
749,384
1886
1896 .
1906 .
1887
1897 .
1907 .
1888 .
1898 .
1908 .
Estimated production of gold in Georgia in 1830-1879 and annually since 1880.
Year.
1830-1879.
1880 .
1881 .
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 . .
Value.
$14,180,500
120,000
125,000
250,000
200,000
137,000
136,000
153.500
110.500
104.500
Year.
Value.
1889 .
$108,069
101,318
80,622
95,251
100,375
99,095
127,942
149,288
154,223
133,989
1890 .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898 .
Year.
1899..
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
Value.
$117,106
124,528
147,580
106,766
66,541
96,929
96,910
31,050
64,808
56,207
Year.
1909.
1910.
1911.
1912.
1913.
1914.
Total.
Value.
$60,620
35,602
35,070
14,360
15, 108
16,270
17,752,627
Estimated production of gold in Maryland in 1867-109 and anally
1880.
Year.
1867-1879 .
1880 .
1881 .
1882 .
1883 .
1884 .••■****■
1885 .
1886 .
1887
1888
Value.
$2,500
250
500
1,000
500
500
2,000
1,000
500
3,500
Year.
1889 .
1890 .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898.
Value.
$3,500
16,962
11,264
1,000
114
978
499
1,038
364
890
Year.
1899
1900
1901
1902
1903
1904
1905. . .......
1906.. ..
1907
1908..
Estimated production ofgoMMC^
-1819 and annually since 1880.
1799-1879
1880
1881.
1882.
1883.
1884
1885
1886
1887
1888
$19,659,600
’ 95 000
115,000
215,000
170,000
160.500
155,000
178,000
230,000
139.500
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
$150, 174
126,397
101 477
90, 196
70,505
52,927
68,476
51 381
38,646
89,960
1899.
1900..
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
$40,713
44,653
60,411
93,650
105,603
123,924
125,685
82,131
82, 193
97,495
$40,230
68,045
70,282
166,014
126,448
131,141
Total.... 23,416,357
of gold in Sooth Carolina in 1829
i-1879 and annually since 1880.
1820-1879.
1880 .
. .
1882 .
1883 .
1884 .
1885 .
1886.
1887.
1888.
$2, 687, 600
* ’ 15,000
40,000
25,000
57,000
57.500
43,000
38,000
50.500
39,200
1889
1890.
1891.
1892.
1893.
1894.
1895.
1890.
1897
1898
$47,085
100,294
130, 149
123,881
127,991
98,763
127,819
100, 3£
85,609
105,398
Year.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
Value.
$160,312
122, 657
127,304
154,680
107,883
121,798
95,111
78,959
54,765
53,715
Year.
1909.
1910.
1911-
1912.
1913.
1914.
Total..
Value.
$11,053
38,324
20,408
16,915
4,881
7,360
5,176,237
214
REPORT OF THE DIRECTOR OF THE MINT.
Estimated production of gold in Tennessee in 18S1-1879 and annually since 1880.
Year.
Value.
Year.
Value.
Year.
Value.
Year.
Value.
1831-1879....
1800 .
1881 .
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
$155,300
1,500
1,750
250
750
300
300
500
500
1,100
1SS9.
1890.
1891
1892.
1893.
1894.
1895.
1896.
1897.
1898.
$750
1,001
519
1,006
250
329
334
584
145
147
1899
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
$176
310
255
142
58
4,331
4,362
4,838
3, 825
3,699
1909 .
1910 .
1911 .
1912 .
1913 .
1914 .
Total..
$4, 118
3,113
11,621
8,265
7,595
6, 194
230,217
Estimated production of gold in Virginia in 1828-1879 and annually since 1880.
Year.
Value.
Year.
Value.
Year.
Value.
Year.
Value.
182&-1879....
1880 .
$3,091,700
11,500
10,000
15,000
7,000
2.500
3.500
4,000
14,600
7.500
1889 .
$4,113
6, 496
6,699
5,002
6, 190
7, 643
6,303
4,435
4, 2S0
5,075
1899 .
$7,729
3,558
6.465
4,295
4. 465
3,853
4,982
14,832
8,288
2,451
1Q0Q
$3,750
888
3,064
218
604
429
1890 .
1900
1 JUcf.
min
1881 .
1891 .
1901
iyiu .
ini 1
1882 .
1892 .
1902
iyii .
IQIO
1883 .
1893
1903 .
lvlz .
1913
1884 .
1894 .
1904
ini a
1885 .
1895 .
1905
iyj.4 .
Total..
1886 .
1896 .
IQflfi
3,293,407
1887 .
1897 .
1007
1888 .
1898 .
li/U/ • . .
1908
SOUTH DAKOTA.
, The value of the gold, silver, and lead produced in South Dakota in
30 Productive mines, 10 of which were placers, amounted to
$7,431,343, compared with $7,424,333 in 1913.
^ TliGgoldoutpu1 in 1914 was valued at $7,333,508, compared with
$7,319,294 m 1913 — an increase of $14,214. The production of silver
increased from 172,702 to 170,642 fine ounces. The placer gold out¬
put amounted to only 68 ounces.
South Dakota has produced in the 38 yoars of its active output
from 1876 to 1914, inclusive, $185,287,640 in gold and 5,832,669 fine
ounces of silvor, with a commercial value of $4,213,674* a total of
$189,501,314. ' ’ ’
A total of 2,019,262 short tons of ore was mined and treated in 1914
Of this total, 2,017,882 tons was treated in the mills in the State*
yielding an average of $3,605 in gold and 0.086 ounce in silver The
output of smelting ore (1,380 tons) averaged 2.047 oimces of o-old
ana 2.94 ounces of silver to the ton.
1 lie Homost ake mine and mills were operated continuously through¬
out the voar and made an output of 1,587,774 tons, which yielded bul-
honof the value of $6,160,161, averaging $3.88 a ton, compared with
1,540,961 tons of ore, $6,186,652 in bullion, and an average of $4.01
a ton m 1913. °
In addition to operating its siliceous ore mines and mill, the Golden
Keward Co. continued experimental work with the roasting of the
sulphide or ‘ ‘ blue ore before cy anidation, both at the 75-ton Wedge
roaster at the Astoria shaft and at the mill at Deadwood. Custom
ore was also handled at the mill. The new Mogul mill at Terry was
placed in operation early m 1914 and continued active throughout the
yoar on company and custom ore. The Trojan mine and mill were
PRODUCTION OF THE PRECIOUS METALS.
215
operated at increased capacity. The Reliance mill was operated on
company and custom ore. The Wasp No. 2 Co., which was inactive
for a short period in 1913, resumed operation of its mill early in 1914,
mining by the open-cut system and using a steam shovel for stripping.
The Bismarck 200-ton cyanide plant, in operation since April, 1913,
was closed in September, 1914. The Deadwood-Standard cyanide
plant was operated for a period by lessees. Some ore was shipped
from the Rattlesnake Jack mine, in the Bear Butte district, and from
the Heidelberg and Monarch mines, in the Two Bit district.
The yield from placers in Custer and Pennington Counties was
nominal. Some production was made at the First National lode
mine and mill, Hill City, and at the Otho lode mine and mill, Keystone.
TEXAS.
The output of Texas mines during 1914 was $234 in gold and 530,817
ounces of silver, which shows a small decrease in gold and an increase
of more than 100,000 ounces of silver. ... . .
The greater part of the silver came from the Presidio mine in the
Shatter district. The ore from this mine is chiefly sdrer chloride,
with which is associated some silver-bearing galena. ...jSef.Jjav
fit this nronerty was treated by pan amalgamation fiom 1884 to May,
when the mill was reconstructed into a 125-ton cyamdation
plant using thealUsliming process and continuous agitation and ffltra-
tiC>The estimated output , * {S of
XtkTlSlnVeTfnnr, the Presidio mine.
UTAH.
Minos in Utah P™ducedor ezi£“ vitadat JW llJiM, Against
I decrease of 8,f per
The gold output wf valu^J3|266,347ty. ^ ^ , t pr„
cent compared with 1913' , .]j valued at $2,159,500, agains
ducer anil made an output ' r g from the copper ores m
$1* 777 214 in 1913. Most of the gow e Lake fcmrnty, the
& West Mountain or wd Slate output The
*74,242 in 1913. T jjy about $16,000 m 1914 13, 084, 835
216
REPORT OP THE DIRECTOR OF THE MINT.
From the park City region the yield in 1914 was 2,955,000
ounces, a decrease of about 20.51 per cent from that of 1913.
nrnriif_&fer Prod^ction of gold and silver was nominal, as the seven
p oductive properties made an output valued at less than $1,300.
^ ®P“a f+v )V (' uSSeS i°^ 0re’ ^ie sikceous ores yielded less than 12
per cent of the gold and 12 per cent of the silver; copper ores 62 per
ro ,f2fi n^U T V;lper i the sUrer: 1««1 Zi lead-zinc ores
about 26 per cent of the gold and 72 per cent of the silver.
bnld and silver m mill bullion was valued at only $20,700, and most
of this was recovered by cyanidation. ’
TT+^|Ur*n^ ^ie °/ ^ke most of the mining properties in
Utah were operating at full capacity, but operations were on a much
reduced scale during the last part of the year.
ih ; ldera])1° +T°n +Tas don? 0Pening up some of the old mines in
the Big and Little Cottonwood districts, which had been idle a number
oi years.
There was some mining on both placer ground and quartz lodes in
the Newton and Fortuna districts in Beaver County, but the only pro¬
duction reported was from the Sheep Rock mine. In Washington
County the Goldstnke district will bo a producer of bullion from Seen
mines m 1915. 1
Four smelters were active in 1914, the Garfield copper plant and
the Murray Midvale, and International lead plants. The last-named
smelter is also equipped with copper furnaces.
WASHINGTON.
Tke production of gold was valued at $557,173— a decrease of
35139,102. Only one mill was active, and the production of the Sur¬
prise, Lone Pine, Pearl, and Knob Hill mines was less than that of
lormer years.
Siliceous ores, which amounted to 73,892 tons, yielded all of the
gold except 278 ounces, which came from placers and 221 ounces
derived from copper ores smelted. Ferry County produced more than
92 per cent of all the gold.
The output of silver decreased from 331,239 ounces valued at
$200,068, in 1913 to 264,861 ounces, valued at $146 468 in 1914
There was no material change in Ferry County, but the production of
silver in copper ores of Stevens County was somewhat less
Crude ore shipped to smelters contained 67 per cent of the gold and
68 per cent of the silver. The copper ores yielded only 35 per cent of
the silver, against 42 per cent in 1913.
The value of the gold and silver content of the siliceous ores aver¬
aged $8.66 a ton, the copper ores $2.51 a ton, and the lead ores $10.41
a ton.
WYOMING.
The value of the gold and silver produced in Wyoming during the
calendar year 1914 was only $5,070, as against $24,762 in 1913. The
silver yield amounted only to 116 fine ounces.
1 lie principal producing district in Wyoming in 1914 was the
AtlanticC lty (or South Pass) district, Fremont County, with yield in
null bullion, shippmg ore, and placer bullion, but the output showed
PRODUCTION OF THE PRECIOUS METALS.
217
a heavy decrease as compared with that in 1913. If the power and
freight problem in this district can be solved the production of the
district may regain its importance.
Copper ore was shipped from Hartville, Platte County. A small
quantity of placer gold was recovered in the Hurricane district, Crook
County. The construction of an amalgamation mill in the Seminole
district, Carbon County, as the result of a trial shipment for tests in
1914, promises a yield of gold from this district in 1915. Work will
be resumed on the Rambler copper-platinum-palladium property
at Holmes, Albany County, in 1915.
APPROXIMATE GOLD PRODUCT.
Approximate gold product of the United States during the calendar year 1914 ■
Items.
Total domestic product for 1914.
Weight.
Fine ounces.
2,698, 189
1,861,000
13,787
4,572,976
Approximate disposUio » of the goUI product of the United State, durin, , thecaUndar year
Items.
aTuSK&ints and assay offices
Deposits of unrefined
Total .
Fine
Deduct: br domestic prlvtd. gfg
.
Total disposition of domestic product^-
Weight.
Fine ounces.
3,811,933
93,808
12,107
13,787
1,861,000
5,792,635
1,251,975
4,540,660
approximate silver peoduct.
Aureate silver product of the United State, dunru, the eatendaryearm^
Items.
Domestic silver co _
Total domestic product forlffi^— -
Fine ounces.
70,218,220
2,099,319
137,554
72,455,093
218 REPORT OF THE DIRECTOR OF THE MINT.
Approximate disposition of the silver product of the United States during the calendar
year 1914 -
Items,
Weight.
Product of private refineries deposi ted at mints and assay offices
I roduct of private refineries exported as per customhouse returns'//. .
Product of private refineries sold for use in the arts .
Domestic silver in ores, copper matte, etc., exported 'for reduction (customhouse return/) .
Deposits of unrefined bullion at United States mints and assay offices .
Fine ou nces.
5, S97, 099
87.553,705
18,871,383
137,554
2,099,319
Total .
Deduct:
BuUion reported by domestic private refineries as contained in their product
but derived from foreign ores . r
Bullion reported by domestic private refineries as from old material . . . .
Total disposition of domestic product.
Fine
ounces .
39. 789. 129
1,912.254
114,559,060
41, 701, 3S3
72,857,677
Approximate distribution by producing States and Territories of the product of gold and
silver in the United States for the calendar year 1914.
[As estimated by the director of the mint.]
State or Territory.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Commercial
value.1
Alabama .
595
800, -171
221,020
1,02S,061
962,779
S13
57,431
tio onn
0 An
Alaska .
vl- , «jUU
ia n? oon
ow
S65.900
4,439, 500
2.020,800
8,804.400
100
12,573.800
1 onn
•XJU
478,800
2,455,000
1,117,500
4,868. S00
100
Arizona .
*vl, vH 4 ,
4 VU onn
California .
01 o<i onn
Colorado .
— * , -ol, »UU
IQ 009 400
Georgia .
16,800
1, 1S7,200
Idaho .
6,953.300
1200
Dlinois .
Marvland .
10
OAA
100
41 k wi
* inn
Michigan .
-UU
lull
229,800
Missouri .
“4v, OW
AA (V^
Montana .
200,446
558,064
58,974
6,303
4 1 1*1
W, Ul»U
12,536,700
15.877,200
1,771,300
1,500
a oftn
OO. -w
6,932.800
8, 780. 100
Q-l) *ilVI
Nevada .
n, Ho, OUU
1 1 MR
New Mexico .
1. 1, \KW, -UU
1 *>io inn
North Carolina .
A, - Aif, Av»U
130,300
Pl», ouu
onn
Oklahoma .
NJU
3. 400
Oregon .
76.887
53,179
135
155
354 782
1,589,400
1.099,300
2.S00
3,200
7,334,000
A 4<Vl
147.400
10,300
81 . 500
5,700
Philippine Islands .
Porto Kico .
South Carolina .
South Dakota .
179, S00
102,800
574,700
11,722,000
1,500
341,31X1
99.400
« cnn
Tennessee .
309
426
163,362
15
Oft 4*i*
Texas .
0, 4UU
s.soo
3.377,00,1
OO, MW
317,800
6.482.300
onn
Utah .
Virginia . . .
Washington .
AKl
5S7,800
6,700
OUU
ICC TlYI
Wyoming .
•■O) lou
loo, *uu
ion
100
1UU
Total .
4 57° Q
94, 531,800
72,455,100
in /«" rpn
wij 1 w
i At the average price of silver per fine ounce for the year 1914, $0,553.
PRODUCTION OF THE PRECIOUS METALS. 219
Product of gold in the several States and Territories in 1913 and 1914, with the increase and
decrease in each for the latter year. increase and
State or Territory.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Idaho .
Maryland . ; _
Montana .
Nevada .
New Mexico .
North Carolina .
Oregon .
Philippine Islands.
Porto Hico .
South Carolina .
South Dakota . .
Tennessee . .
Texas . .
Utah .
Virginia .
Washington .
Wyoming .
Total . .
Net increase.
Value.
1913
‘5;
20,
18,
I*
1
3,
$9, 200
201.300
101.400
241.300
109, 700
13,300
244.300
700
320.900
977.400
892,000
115.200
477.900
707,000
1,100
4,100
214.200
7,700
200
570.300
200
657,500
17,500
88,884,400
1914
$12,300
16.547.200
4,568,900
21,251,900
19,902, 400
16,800
1,187,200
200
4,143,600
11.536.200
1,219,100
130,300
1,589,400
1,099,300
2,800
3,200
7,334,000
6,400
8,800
3,377,000
300
587,800
6,700
94,531,800
Increase.
$3,100
1,345,900
467,500
1,010,600
1,792,700
3,500
822,700
327, 100
15,100
111,500
392,300
1,700
119,800
'"s}m
. ioo
Decrease.
6,422,200
5,647,400
$57,100
500
441,200
900
‘i’366
193,300
69,700
10,800
774,800
Product of silver in the several States and Territories in 1913 and 1914, with the increase
and decrease in each for the latter year .
State or Territory.
Alabama .
Alaska .
Arizona. .
California .
Colorado .
Georgia .
Idaho .
Illinois .
Maryland .
Michigan .
Missouri .
Montana .
Nevada .
New Mexico .
North Carolina .
Oklahoma .
rhlbppme Islands .
South Dakota .
Tennessee .
Texas .
Utah .
Virginia. - .
Washington .
Wyoming .
Total .
Net increase. -
Weight.
1913
Fine ounces
100
366.700
3,912,000
1,421,500
8,989,700
’ 100
9,477,100
2.300
'"‘333,766
38,900
12.540.300
15,657, 400
1,666,900
1,700
800
172,200
6.300
172,600
109,000
429.800
11.282.300
200
218.700
1,200
66,801,500
1914
Fine ounces.
300
865,900
4,439,500
2,020,800
8,804,400
100
12,573,800
1,900
100
415,500
60,000
12,536,700
15,877,200
1 771,300
1,500
6,200
147,400
10,300
179.800
102.800
574,700
11,722,000
1,500
341,300
100
72,455,100
Increase.
Fine ounces
200
499,200
527,500
599,300
■3, ‘096,700
. ioo'
81,800
21,100
104,400
. 5,400
. 4*666'
7,200
** i44,900
439,700
1,300
122,600
5,875,200
5,653,600
Decrease.
Fine ounces.
185,300
. 400
***3*666
. 200
“24*866
“**6*266
*“i,‘i66
221,600
220
REPORT OF THE DIRECTOR OF THE MIST.
Distribution of the gold and filter product of the United States as reported by the mine
otmersfor the calendar year 1914, as to source of production.
[Figures furnished by the United States Geological Surrey.]
Gold-
SOver.
State or Territory.
Deep
mines.
Placer mines.
Drr or
Lead
ores.*
Copper
ores.
Dredges.
All other
placers. -
sOiceoas
ores.1
Ihuommx*.
rnuomset*.
Fmeammca.
rrmtimmea.
Frmeommce*
Fnuomvzx.
Alar Area
192
Aia>a3 .
Ariiona .
243,532
200^709
559.327
930.771
253
113,681
405.3S3
L**
62.764
i,«n
534
111,450
1,134.217
303,705
6.591.814
67
639,406
465.112
2, G0C*. 406
283.355
2.604,371
California
376,522
229,155
Colorado .
703.042
173,845
Georria .
Idaho .
Illinois
21,839
27,524
6.360
46.073
12,194,Os8
2,112
2®,35»
Maryland and \ irzmiz.
32
i,5oe
413,500
Michigan .
Missouri .
«,154
2,744,170
•j-% .V/-
Montana .
153.624
537,152
55.271
6,020
40,423
ilaiSIS
i _
1,256.506
14.730,461
1,460.144
1.500
6.1S7
141.910
33
8. 015.804
181.733
Nevada .
New Mexico .
25.035
North Carolina. .
292.265
24
Oklahoma
Oregon. .
50,462
* 18.002
10,197
<2
642
South Carolina. .
334
Soath Dakota. .
T * *— — ~
354. 6^j
300
11
68
179,252
390
Texas .
517. «6J
1,317,373
8,i2S
8,111,313
97,402
6,05
1, 755.230
Utah. .
157,901
60
WkmrCTn _
IMvetaa. .
26,675
153
278
89
168,582
37
&,?*>
19
90,574
79
Wvoming. . .
Totd * .
3.300.131
805,305
512,593
27,964,463
It, £*,£5
' Iacta4« small coantirr oi sflvrr frin placers.
* Inrjndes silTer m ksai-cnc. eopper-leai coroer-teal-iinc. aai line <»es.
< ¥SSS£uSSS 8111 °re^ 1 <ired^ ta
DREDGE PRODTJCTION.
The possible production of gold by dredges has been the subject of
much discussion during the past 12 years, and some verv sensational
predictions have been made of the probable yield from this source.
The production by dredges in the L nited States has been mainly in
California and .Alaska. The total yield during the last 11 vears (re¬
vised figures) has been as follows:
Dredge output of gold. 1904-1914.
[Figures of the C ruled States Geefcgnl Somr.)
221
PRODUCTION OF THE PRECIOUS METALS.
PRODUCTION OF GOLD AND SILVER IN THE UNITED STATES.
The production of gold and silver from the mines of the United
otates since 1792 is shown in the following table.
The commercial value of the silver product is reckoned at the aver¬
age yearly market price of silver on the New York market.
Product of gold and silver in the United States from 1792 to 1844 and annually since.
222
REPORT OF THE DIRECTOR OF THE MINT.
GOLD AND SILVER USED IN INDUSTRIAL ARTS IN THE UNITED
STATES DURING THE CALENDAR YEAR 1914.
Among the purveyors of gold and silver bars for use in the indus-
tnal arts of tlie United States, the mint at Philadelphia and the
United States assay office at New York hold the foremost places-
consequently, the larger portion of the material consumed in the
arts is brought under Government notice and is a matter of public
record. 1
The following table ffives the value of the gold and the quantity
oi the silver bars issued by the Government institutions and private
refineries during the calendar year 1914, with the class of material
trom which they were made:
Gold and silver bars issued by the Government institutions and manufactured by private
refineries for use in the industrial arts during the calendar year 1914.
Material used.
Value of gold issued by —
Weight of silver issued by —
Govern¬
ment
institutions.
Private
refineries.
Total.
Govern¬
ment
institutions.
Private
refineries.
Total.
Bullion, old plate, etc .
Dollars .
39,526,787
Dollars.
2,493,245
708,861
Dollars.
42,020,032
708,861
Five ou.
3,797,186
Fine ozs.
25,435,431
500
Fine ozs.
29,232,617
500
United States coin .
Total .
39, 62fi, 787
3,202,106
42,728,893
3,797,186
25,435,931
29,233,117
Estimating that the total amount of gold coin used in the arts
during the calendar year 1914 has been $3,500,000, and silver coin
$100,000, equivalent to / 7,344 fine ounces, the total industrial con¬
sumption of gold was $45,520,032 and of silver 29,309,961 fine ounces.
In order to arrive at the net consumption in the industrial arts
there should be deducted from the foregoing totals the amount of
i* plate, etc., included in the private refinery returns and
also the same class of material returned to coinage use In the year
1914 these amounts aggregated $8,107,274 in gold and 6,758,330 fine
ounces in silver, which leaves $34,621,619 of gold and 22 474 787
fine ounces of silver as the net amount of new bullion devoted to
industrial use.
The table following gives the amounts and classification of the
gold and silver used in the industrial arts in the United States since
loot) l
PRODUCTION OF THE PRECIOUS METALS.
223
Gold and silver bars furnished for use in manufactures and the arts and classification of the
material used , by calendar years , since 1880 .
GOLD.
Calendar years.
United States
coin.
1880...
1881...
1882...
1888 _
1884 _
1885 —
1886. . .
1887.. .
1888.. .
1889.. .
1890. . .
1891..
1892. .
1893..
1894..
1895..
1896..
1897..
1898..
1899. -
1900..
1901..
1902..
1903..
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
1912..
1913..
1914.
1880 .
1881 .
1882 .
1883 .
1884 .
1885 .
. .
1887 .
1888 -
1889 -
1890.. --
1891.. --
1892.. .-
1893.. -•
1894. ---
1895.
1896 .. ..
1897-.--
1898.. -.
1899---.
1900.. -.
1901.---
1902.. .-
1903.. -•
1904- -.'
1905- -.
1906- .-
1907- .-
1908. -•
1909.. .
1910---
1911 —
1912 —
1913
1914
Total
Domestic
and foreign
Total new Q
bullion and
material.
foreign coin.
$3, "00,000
2,700,000
2,500,000
4,875,000
5,000,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
$5,511,047
6,271,311
6.219.461
8,707,824
7,600,423
6,153,650
7,759,915
7,992,406
8,969,076
8,310,913
9.525.462
9,568,009
9,908,099
7,498,690
5,310,081
7,454,419
6,005,116
6,733,159
8,476,871
12,215,809
13,561,553
15,131,943
17,605,984
19,103,562
17,274,999
21,975,192
28,382,934
27,967,816
20,945,797
26,748,209
30,660,874
29,603,054
32, 370, 552
34,001,831
31,121,619
$8,811,047
8,971,311
8,719,461
13,582,824
12,600,423
9,653,650
11,259,915
11,492,406
12,469,076
11,810,913
13,025,462
13,068,009
13,408,099
10,998,690
8,810,081
10,954,419
9,505,116
10,233,159
11,976,871
15,715,809
17,061,553
18,631,943
21,105,984
22,603,562
20,774,999
25,475,192
31,882,934
31.467,816
24,445,797
30,248,209
34,160,874
33,163,054
35,870,552
37,501,831
34,621,619
Old material
$1,294,385
1,595,431
1,795,246
1,852,638
1,899,577
2,171,092
3,266,775
3,317,940
4,045,766
4,886,143
4,630,498
6,618,907
5,920,975
4,437,211
3,848,523
4,474,666
3,890,818
3,637,072
3,589,008
4,131,369
5,086,589
5,237,013
6,576,863
6,459,989
7,880,964
7,733,423
7,243,829
9,259,254
7,030,294
7,380,560
7,626,278
7,731,238
8,106,705
8,362,235
8,107,274
Grand total.
$10,105,432
10.566.742
10,514,707
15,435.462
14,500,000
11.824.742
14,526,690
14,810,346
16,514,842
16,697,056
17,655,960
19,686,916
19,329,074
15,435,901
12,658,604
15,429,085
13,395,934
13,870,231
15,565,879
19,847,178
22,148,142
23,868,956
27,682,847
29, 063, 551
28,655,963
33,208,615
39,126,763
40,727,070
31,476,091
37,628,769
41,787, 152
40,834,292
43,077,257
45,864,066
42,728,893
Fine ounces.
464,063
154,687
154,687
154,687
154,687
154,687
154,687
154,687
154,687
154,687
154,687
•154,687
154,687
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77 344
77,344
77,344
7*44
77,344
77,344
77,344
Fine ounces
2,126,326
2 418,873
4,783,339
3,971,275
3,784,167
3,468,715
3.238.588
3.464.589
5,369,556
5 870,650
6,212,525
6,34 5,372
6,322,006
6,274,268
7,365,603
8,382,937
6,943,496
7,675,818
8,307,947
10,419,087
11,338,941
12,832,630
16,468,785
15,956,742
17,743,490
19,231 410
17 866,890
21 993,698
20 183,555
20,881,820
53 109 484
26210,759
22,56 7,4/7
23,051,024
22,397,443
Fine ounces.
2,590,389
2,573,560
4 938,026
4,125,962
3,938,854
3,623,402
3,393,275
.3,619,276
5 524,243
6,025,337
6,367,212
6,500,059
6,476,693
6,351,612
7 442,947
g 460,281
7,020,840
7 753,162
8,385,291
10,496,431
11 416, £5
12,909,974
16 546,129
16,034,086
17,820,834
19.308,754
17 944,234
22,071,042
20,260,899
20,959,164
23,186,828
26,288,103
22,644,821
23,128,368
22,474,787
Fine ounces
203,540
219,644
297,690
293,000
315,052
448,568
523,000
586,933
742,062
755,347
770,961
927,493
717,349
1,099,899
974,410
1,035,230
871,528
910,227
786,552
1,629,261
1,800,999
1 223,720
2,798,830
3,934,2(0
2 659,153
4,391,923
3,909,030
2 298,742
3,589,929
6 941,962
1 602,979
5 725,582
7,291,699
7 864,466
6, 758, 330
Fine ounces.
2,793,929
2,793,204
5 235,716
4,418,962
4,253,906
4,071,970
3,916,275
4,206,209
6,266,305
6,780,684
7, 138,173
7,427,552
7,194,042
7 451,511
8 417,357
9,495,511
7,892,368
8,663,389
9, 171,843
12, 125, 692
13,217,284
14,133,694
19,345,009
19, 968, 3o6
20,479,987
23,700,677
2i, 853, 264
24,369,(84
23, 850, 828
27,901,126
24,789,807
32,013,685
29,936,520
30,992,834
29,233,117
224 REPORT OF THE DIRECTOR OF THE MINT.
EXCHANGE OF FINE GOLD BARS FOR GOLD COIN AND GOLD
BULLION.
The value of the fine gold bars furnished to the trade in exchange
for gold coin and bullion, monthly, by the United States mint at
Philadelphia and assay office at New York for the calendar year 1914
was as follows:
Months.
Exchanged for gold coin.
Exchanged for gold bullion.
Philadelphia.
New York.
Total.
Philadelphia.
New York.
Total.
January .
February .
March .
April .
May .
June .
July .
August .
September .
October .
November .
December .
Total .
$8,634,418.93
10,546,723.11
4,797,436.82
2,584,192.89
8.493.548.53
3,934,517.20
3,181,026.03
3,298,245.50
3,566,268. 42
6,608,909.52
2,556,469.60
1.444.409.54
$8,634,418.93
10,546, 723.11
4,797,436.82
2,584,192.89
8.493.548.53
-3,934,517.20
3,181,026.03
3,298,245.50
3,566,268.42
6,608,909.52
2,556,469.60
1.444.409.54
$29,293.77
22,911.76
22,698.46
22.664.72
27.689.26
33,612.33
21.460.72
18,845.84
15,559.93
26,330.21
18,697.43
26.273.26
$323,144.46
251,274.55
297,225.09
277,893.15
259,397.50
271,110.37
316,367.59
439,510.33
595.741.18
733,132.17
552.373.19
311,448.05
$352,438.23
274.186.31
319,923.55
300,557.87
287, 086. 76
304, 722. 70
337.828.31
458,356.17
611,301.11
759,462.38
571,070.62
337.721.31
59,646,166.09
59,646,166.09
286,037.69
4,628,617.63
4,914,655.32
THE WORLD’S INDUSTRIAL CONSUMPTION.
This bureau has endeavored for some years to obtain information
as to the consumption of gold and silver in the arts, and the results of
its inquiries have been made known each year. The usual inquiries
were sent out last year, but the necessity of closing this report earlier
than usual has made it impossible to do more than give the returns
from a few countries without any attempt to compile a total.
INDUSTRIAL ARTS.
Australia. — The American consul at Melbourne, Australia, reports
as follows regarding the amount of gold and silver used in industrial
arts during the calendar year 1914: “The only statistics available
show that 6,464 ounces of fine gold and 28,590 ounces of fine silver
were issued from the Melbourne mint to jewelers and others for
industrial purposes.” Tho value of the gold in United States money
is $133,622.52, and of the silver at the average price of silver bullion
per ounce during 1914 — viz, $0.55312 — equals $15,813.70.
The American consul general at Sydney, Australia, reports that
the amount of gold used in industrial arts during the year 1914 was
7,723 ounces, which, if of pure gold, would be of the value of $159,648.
British Guiana. — The amount of gold and silver used in industrial
arts during tho calendar year 1914:
Classification.
Value.
Gold.
Silver.
New bullion .
$500
500
Old plate. Jewelry, etc .
$100
Foreign com .
200
1 900
Total .
100
1 J 4.UU
PRODUCTION OF THE PRECIOUS METALS.
225
These figures represent 58.05 fine ounces of gold and 181 fine
ounces silver.
Canada. — The amount of gold and silver used in industrial arts
during the calendar year 1914 was as follows:
Material.
Gold.
Silver.
Now bullion .
Fine ounces.
95,000
1 1.500
11.500
U,000
Fine ounces.
620,000
(2)
(2)
to
Old. plate jewelry, etc .
Domestic coin . . . . . - .
99,000
($2,016,511)
620,000
($342,860)
i Uncertain estimates. 2 Negligible.
Yukon Territory— United States consul reports that the amount
of gold bullion used in industrial arts during the calendar year 1J14
was 1,000 ounces, fine.
CHINA.
Foochow Province .
Classification.
Gold.
Silver.
New bullion (approximate) .
Fine ounces.
1,200
Fine ounces.
19,000
^ ™l«e of
age price durmg^c^endar year 1914), *10,509.28.
226
REPORT OF THE DIRECTOR OF THE MINT.
Swatow Province.
Classification.
Gold.
Silver.
Old plate, jewelry-, etc. (estimated)
Fine ounces.
07 fWl
Fine ounces.
y wU
133,000
fPAmLT u Ti™-,168 that thls answer was obtain
rom local gold and silver smiths and applies to Swatow city only
the void’ll «Knab°r> amt?un1 of Pure S°W and are ' '
me gold $5dS,138.60 and for the silver $73,564 96
Costa Rica. —
-for
Description.
Gold.
Silver.
Old plate, jewelry, etc. . . .
Grammes.
3,000
Colones .
4,000
($1,860)
Grammes.
1,000
Colones.
500.00
($23?. 50)
^nnuiTK.— no omcial data available, but it is stated bY experts
that, owing to the difficulty of obtaining gold, there has been much
less used during the year 1914 than dur&f previous years.
I he amount of gold and sdver used in industrial arts in Finland
wkfnd1!^?^^ 7*** 1913 1 Th.f e werc 304 ’697 grams of gold-
work and -5-, 76_ metric ounces of sdveiwork hall marked (stamped)
Fmland, which were estimated to contain approximated fine
ounces, respectively, as follows: approximately, fane
Classification.
Ofi .
Silver .
Fine
ounces.
7,837
67,449
Value.
$162,005
37,299
Great Britain. The United States consul general reports the
New bullion old plate, jewelry, etc..
Domestic coin . _ .
Valued at. .
Foreign coin2 .
Fine ou nets. Fine ou nets
„ _ 1 824, 400 1 14,000,000
7,063- 9,407
£30, 000- £40, 000
($145, 995-S194, 660)
1 Estimated; no official returns.
Madagascar. —
2 Information not available.
Classification.
Gold.
Fine
ounces.
Value.
New bullion .
Old plate, jewelry, etc.. .
102. 018
$2, 108. 90
Total .
575. 155
623. 373
11,889.50
12,886.26
- - - — . 1
1,300. 546
26,884.66
PRODUCTION OF THE PRECIOUS METALS. 227
during the cXXr dyeaf In°*i 9 n^l 075 *„<? jnd“strial a,jts
(*11 722 6MM?d- 22 „tlis> of
and
111 tlio year 1912 there were presented for stamping (hall marking) :
Items.
Poods.1
Poimds.
Zolotniks.
In gold ware .
01
Of which there were of Russian manufacture
In silverware .
OiD
530
10 039
61
17
o
28
87
o
Of which there were of Russian manufacture. . . .
9,588
u
22
Z
44
1 1 pood=40 pounds; 1 pound=96 zolotniks; 1 pood=16.380496 kilograms.
Gold watch cases 80,635, of which 341 were of Russian manufac¬
ture; silver watches 209,510, of which 34,231 were of Russian manu¬
facture. (The gold ware stamped was near the fineness of 56/96 and
silverware near 84/96.)
Switzerland. — The amount of precious metals used in industrial
arts in Switzerland during the calendar year 1914 was as follows:
Gold, 26,746 fine ounces; silver, 278,017 fine ounces. The value of
the gold in United States money is $552,889 and of the silver, at the
average price of silver per fine ounce during 1914 ($0.55312), $153,777.
Classification.
Gold.
Silver.
Kilograms.
10,700
Kilograms .
02,000
New bullion, old plate, jewelry, etc., domestic ana lorcign coins, .
The above amounts were obtained from the chief of the Federal
of suver $1,102,295.
Palo.
Country.
Amount.
Rate of
exchange.
May
Holland .
France . .
. do...
_ do...
. do...
. do...
. do...
....do...
Holland.
France. .
...do...
;....do...
Germany
France . .
Holland .
France..
..do...
‘England.
France. .
...do...
$500
7,304
3, 584
4,2S0
4,310
1,904
4,555
0,550
500
0,450
0, 004
1,207
3,913
0,159
500
0,000
0,090
0,000
0,000
3,303
$4,800
4.808
4.8035
4.803
4.8575
4.8575
4.850
4.859
4.858
4.858
4.87G5
4.880
4.880
4. 880
4.8825
4.8825
4.8855
4.880
4.887
4.8835
228
REPORT of the director of the mint.
Statement of United States gold coin and gold bullion exported from the port of New
Statement oj Laueao ^ ^ i9 ^-Continued.
Date.
Country.
1914.
June 1
2
8
8
9
11
11
12
15
15
15
16
Holland . . .
France. . . .
_ do .
Holland . . .
France... .
. do .
England...
France
Holland..
France
England..
France...
16 1 England..
18 I . do....
18 France...
do _
do _
do —
do _
.do _
.do _
13 Holland..
23 France...
do _
27 I England.
28 . do...
28 France..
30 England.
do...
do...
France . .
England,
do...
14 l France..
14 Italy....
15 England
19 do..
Sept. 2 | . do
19
22
23
25
26
July 7
31
Aug. 4
4
7
14 I
Spain....
England.
5 !
5 -
29 . do.
30 Finland.
Oct. 10 England.
Nov. 21 . do.
Dec. 5 I Italy.
Total.
Amount.
Rate of
exchange.
$500
$4,883
2,163,849
4.886
4,000,000
4.8875
500
4.8875
7,500,000
4.8885
3,014,210
4.8875
221,411
4.8875
5,000,000
4.890
'500
4.8895
5,000,000
4.8895
244,400
4.8895
5,500,000
4.890
488,800
4.890
342, 160
4.885
1,000,000
4.885
1,487,351
4.8825
1,490,060
4. 881
6,590,342
4.882
1,542,717
4.882
966,507
4.879
386,000
4.8775
500
4.875
2,473,006
4.880
4,764,333
4.890
11,004,657
4-890
4,981,318
4.910
2,545,146
4.910
8,803,815
4.960
8,307,096
G)
100,000
C1)
4,825
0)
435,000
0)
119,500
*5.000
2,000
*5.000
100,500
*5.000
50,000
C1)
15,000
CD
305,000
C1)
100,000
C1)
50,000
0)
500
4.995
16,400
4. 985
152
4.970
4,000
4-SS25
400
4.87625
. 123,755,840
1 No quotations. * Estimated.
Recapitulation of gold exports to Europe .
Country. UnltodStates
Foreign
bullion.
Foreign coin.
Total.
France .
$45,917,215
27,683,500
3,500
100,000
16,400
1,018,913
$38,956,689
8,491,886
$390,825
1,076,012
$85,264,729
37,251, 39^
’ 3;o00
100.000
16,400
1,01S,913
100.900
England .
Holland .
Spain .
Finland .
Germany .
Italy .
100,900
Total .
74,739,528
47,448,575
1,567,737
123,755,840
During the same period there
Unied States coin .
Foreign bullion .
Foreign coin .
Gold exports to Europe .
were shipped to other points:
. $3,212,527
. 119,495
. 411,121
- - - $3,743,143
. . 123.755.S40
Total
127,498,9®
PRODUCTION OF THE PRECIOUS METALS. 229
The imports during the same period were as follows:
From Europe:
United States coin .
Foreign coin . oo’om
Foreign bullion . .
Bullion in ore . !!!!.!!!!!!!!!!!!!!!!!!!!!!! . 24 804
Total from Europe . 333~107
From points other than European: . 7
United States coin . $1 819 144
Foreign coin . . l* 838! 887
Foreign bullion . 6, 591, 038
Bullion in ore . s. . 129, 104
- 10,378,173
Grand total gold imports . 10, 711, 280
STOCK OF MONEY IN THE UNITED STATES.
On December 31, 1914, the stock of domestic coin in the United
States was $2,252,316,331, as shown by the following table:
- ~ - - - - * . * r * • - rw gj) 1914 •
Items.
Estimated stock of coin, Dec. 31, 19^3* VqiV
Net imports United States com, calendar >ear 1914.
Coinage, calendar year 1914 . * .
Total..
Less
United States coin melted for coinage (face value),
Total .
Estimated stock of coin in United States Dec. 31, 1914
Gold.
Silver.
Total.
$1,601,108,891
$745,260,957
1,022,868
6,083,823
$2,346,369,848
1,022,868
59,541,641
53,457,818
1,654,566,709
752,367,648
2,406,934,357
1,763,397
3,500,000
148,559,388
695,241
100,000
2,458,638
3,600,000
148,559,388
153,822,785
795,241
154,618,026
751,572,407
2,252,316,331
1,500,743,924
en f V 147 sn6 leaving in the unneu — -
dd by the Government to*
The value of gold was as follows:
Bullion. _ _
Gold...--*;**
Silver (cost) -
Total-
Value.
$304,354,958
3,511,066
307,866,024
Bullion and coin.
J “ - _ _ _
Value.
- -
.
. . —
2,560,182,355
230
REPORT OF THE DIRECTOR OF THE MINT.
The location of the stock of metallic and paper money in the
United States on December 31, 1914, was as follows:
Money.
In Treasury.
Outside of
Treasury.
Total.
Metallic:
Gold bullion .
*304,354,958
3,511,066
880,954,878
499, 126,511
21,144,888
*304,354,958
3,511,066
1,500,743,924
568,271,063
183,300,744
Silver bullion .
Gold coin .
Silver dollars .
Subsidiary silver coin. . . .
Total .
Paper:
Legal-tender notes (old issue). .
Legal-tender notes (act July 14. 1890).
National-bank notes .
Total .
Gold certificates .
Silver certificates. . . .
*619,789,046
69, 145, 152
162,155,856
1,709,092,301
851,090,054
2,560, 182,355
37,451,468
15,811
71,458,814
309,229,548
2,335,189
968,252,207
346,681,016
2,351,000
1,039,711,021
108,926,093
1,279,816,944
1,388,743,037
47,530,290
27 976 233
971,457,869
iCfl ooo /vwi
Total certificates .
« • j v 1 vlj
75,506,523
— O— y UUU
1,451,689,869
Total stock of money ....
3,582,596,867
3,948,925,392
THE COURSE OF SILVER.
The following review of the London market for silver during the
S. 1911 v1 tilie anTual circular issued by Messrs.
Sharps & Wilkins, bullion brokers, of London, England: J
The silver market during 1914 has shown some great and perplexing fluctuations
The price has been as high as 27*d. and as low as 22 Jd., and the peculiarity hashed
that when silver seemed strongest it became particularly weak and J
pronounced it again auddcniy developed
These contradictory movements have occurred twice within the year the more
recent experience being the continuous fall at the time mkn year, tne more
being made for the Government, and the rapid rise toward the end ofthe WCre
India began to take a renewed interest in the market. C ^ ear 23 eoon as
In explanation of these movements we have to remarlr that q+ „„„ .
the year the liquidation of the large amount hddTTff««WQ C^““encemonJt °j
smoothly and efficiently, the extensive bear Litton Sfin* S>’udlcat« proceeded
expectation of a fall, nS£C °P?Q at that time in
steady, helped materially bv extensive offis 1^? tho P“c© remained very
centers from time to time, and by the 3d of Anril other continental
finally disposed of The total vorintinn 6 whole accumulation had been
supplies IroS Mcidco. and it wm at HZ™, mUch t““!“te<l bJ' >h« reduced
of a substantial rise. As the result of nim'ha*™ f 16 ma*ket gave most promise
remained steady for about a month an<? then for reasons 1 ** Cllia.a the market
a wave of weakness began to show i^l in Ch na un to noi "f.P^^ularly obscure
sales of silver from that quarter became predominant ThTfiSw ^ ^PPorter, and
large amount of supply which had accumulated • e f?^.8ta^ed at first by a
market, and althou^i this was disposed of before lonmtiMeX1Cr b?-mg f,°rced upon the
from Hongkong contributed still further to denr<>«« tv,’ tbe.reabzation .of subsidiary coin
pusly during the whole rf jX Whlch e11 fai^ co^n-
mduce anv buying on accoimt of China fhe 1 exPeil®ac0 th0 low price did not
parity of eiWin London , 3 both ^ek md sls^ below the
nave been looked for from the encouragement ,ubse<lueatly tn® support which might
It is not improbable that XeSff oTth^ the/ast did not arrive.
Pnnce of Austria at the end of Jime and the uL nfr*1 * a88aa?i?atlon of the Crown
have been quickly perceived bv th« (Vrmon ^ lts eFe<^ uPon European peace may
China, perhaps bettHSd L “if «™mmity ii
the market seemed to be in a thormmhlv arac.te.r ^an rest of the world, and
last days of July producing important Jelling from ffil qualtem!16^ *** °* War in the
PRODUCTION OF THE PRECIOUS METALS.
231
At the actual commencement of hostilities the many uncertainties of the position
were so great that there was no quotation in silver for five days. The first day of
business after the protratced bank holidays saw a startling change. On the announce¬
ment that a large purchase of silver for the English Mint was imminent, a rush on the
part of the operators who were short of the metal to cover their commitments, and the
actual necessities of the Government in carrying out the policy they had foreshadowed
produced an immediate rise to 26d., and a further advance on the 10th August to 27 id.
per ounce, standard. This, however, proved to be the top of the market, and although
there were some important purchases made for France and Belgium, the rate began
to fall away rapidly, very large shipments from America which had been temporarily
detained in view of the uncertainty as to the safety of navigation having now begun
to arrive and to be realized . It needs to be explained that at the reopening of business
on August 7 it was only possible to sell silver actually in the country for immediate
cash and there has been no opportunity since to make a forward quotation.
Bv August 29 the price had receded to 23 Jd. per ounce, but the immediate pressure
of Sibling ovelthPere was a recovery to 2&fon the 11th of September, followed by
point of the year, to the present quotation.. future o{ siiver. The war has
Unusual difficulty attaches to any . . ^ . t. „ par East owing to the extent
so completely altered the complexion ® there that a considerable time may
of German influence on bankmg and com ti ^ political and other
be required to readjust the that a country with such possibilities as
difficulties; but there is no ' rM* ^ sugp to exercise an important influence
China with a currency still on a silver oas , dirpction that influence will be felt
on the value of this metal, but held there, but probably
?f barfly he
ie other banditis to U nei^er^el t^emetal imported from
SSbffiw: «»««■•* be anUcipa
years some improve
232
REPORT OF THE DIRECTOR OF THE MINT,
Highest, lowest, and average price of silver bullion and value of a fine ounce
during the calendar year 1914 and year ended June 30, 1915.
CALENDAR YEAR.
each month
Month.
\
Highest.
Lowest.
Average
price per
ounce,
British
standard,
0.925.
Equivalent
value of a
fine ounce
with ex¬
change at
par $4.8665.
Average
monthly
price at
New York,
exchange
on
London.
Equivalent
value of a
fine ounce
based on
average
monthly
price and
average
rate of
exchange.
t1
Average
monthly
New York
price of
fine bar
silver.
1914.
January .
Pence.
26f
26H
27
27J
27 A
26J
28J
Pence.
26A
261
26f
OfylS
Pence.
26.5576
26.5653
26. 7884
oc ncoo
$0. 58217
.58234
.58723
.59095
.58600
.56879
.55201
$4. 8625
$0. 58179
February .
SO. 59000
March .
4.8577
.58128
.59079
April .
4. 8622
.58671
.59596
May .
Zo. yo83
26.7325
25. 9475
25. 1875
4. 8696
.59134
.60077
June .
7}-\ !
4.8816
.58780
.59700
July .
23!
4.8848
.57094
.57976
August 1 . . . .
4.8841
.55408
.56149
October .
22*
221
22. 9522
90
.53159
.50555
.49630
.50145
4. 9703
.54573
. 54882
November .
23®
4. 9439
.51120
.51706
December .
231
22J
zz. /UZ7
22.9000
4.8926
.50034
.50647
4.8731
.50268
.50835
Average. .. .
25. 2424
.55312
4.8893
.55581
.56331
FOR THE FISCAL YEAR JUNE 30, 1915.
1914.
July .
August .
September.
October.
November. .
December. .
1915.
January
February...
March .
April . .
June
Average
Pence.
Pence.
Pence.
26J
(>)
25*
24J
23
234
23!
0)
23g
22*
22 1
22*
25. 1875
0)
24. 3750
22. 9522
22. 7027
22.9000
$0.55201
0)
.53159
.50555
.49630
.50145
*4. 8841
(*)
4.9703
4. 9439
4.8926
4. 8731
$0.55408
(>)
.54573
.51120
.50034
.50268
$0. 56149
(l)
.548S2
.51706
.50647
.50835
22**
23*
24*
234
22A
22*
ilf
23A
22$
22. 7350
22. 7528
23. 7083
23. 7090
23.5807
23. 2668
. 49678
.50007
.51822
.51925
.51706
.51035
4.8469
4.8226
4.8006
4.7953
4. 7922
4. 7784
.49637
. 49426
.51267
.51227
.50903
.50080
.50220
.49886
.51616
.51596
.51255
.50452
23. 4427
.51351
4.8545
.51268
.51750
1 No quotations.
PRODUCTION OP THE PRECIOUS METALS. 233
EXPORTS OF SILVER BULLION FROM THE UNITED STATES.
The exports of silver bullion from the United States since 1900
were as follows:
Exports of silver bullion, calendar years 1900-1914.
Calendar year.
United
Kingdom.
Asia.
All other.
Total.
1900 .
$51,870,790
44,732,679
33, 775,693
32,809,430
39,314,272
42,680, 190
44,034,990
$5,629,436
4,507,540
7,465,728
1,654,052
4,627,162
6,244,301
$813,929
2,022,053
3,908,906
4,202,030
1,826,785
1,698,489
$58,314,155
51,262,272
45, 150,327
38,665,512
45,768,219
1901 .
1902 .
1903 .
1904 .
1905 .
50,622,980
1906 .
4,210,717
1,325,087
49,570, 794
42,692, 769
3,003,325
5,798,577
51,494,671
40,030,888
5,811,684
5,206,406
51,048,978
44,093, 497
7,963,217
4,046,639
56, 103,353
45,270,823
7,495,997
3, 434,677
56, 201,497
51,143,245
9,370,356
4,019,825
64, 533, 426
70,761,243
61,809,556
4A 1 QCk QOA
51,388,352
11,413,021
7, 959, 870
7,813,558
7,626, 125
41,299,073
12,696,925
35,421,165
6, 142, 090
49, loy, ooU
640,557,856
98,235,551
61,702,956
800,496,363
EXPORTS OF SILVER FROM LONDON TO THE EAST.
The exports of silver from London to India, China, and the Straits
since 1881 have been as follows: ____
Calendar year .
India.
China.
Straits.
Total.
. . .
1882 . . .
1883 . .
1884 . « . .
. . . .
1886 . .
1887 . - . .
1888 . .
1889 . .
1890 . .
1891 . .
. . . .
1893 . .
. . . .
. . . .
1896 . .
1897 . .
. . . .
1899 . .
1900 . .
1901 . . .
1902 . .
. . . .
. . . . .
1905 . . .
1906 . . . .
1907 . . .
1908 . . .
. . . . .
. . . . . .
1911 . . .
. . . . .
812,375,612
18,601,945
18,040, 140
26,073,909
30,913,667
21,159,591
19,798,328
21,162,116
28,392,786
35,673,1/7
21,717,992
35.180.897
34,319,877
24,391,351
17 638,610
23,874,942
28,250,305
20, 984, 625
25,597,912
37,916,065
36,987,395
30,987, 19o
36,125,636
46, 366, 153
36,754,830
73, 997,060
51,935,064
45,133,819
32,477,074
35,090,8/2
43,131,303
58, i8i, ni
47.793.897
27,554,123
$3, 89S, 860
1 584,318
4 212,574
5’01S, 714
3,160,315
1,769,425
1,427,179
1,153,002
2,731,861
1,284,498
1,177,620
719,668
11,635,650
13,279,564
8,042,003
3,602,597
2,721,522
3,721,656
6,929,117
11,252,496
4,101,764
991,793
1,508,907
2 495,502
4,315,841
2,096,002
2,420,354
3,608,023
9 538,340
7 100, 223
5,208,615
9,329,080
3 674,207
243,325
$3,577,729
7,354,255
11,189,631
8,136,097
3,108,146
2,892,064
2,766,946
3,219,321
8 181,141
4 441,197
10,754,800
18,622,825
7,847,295
6,002,565
3 668,772
4,025,257
3,597,331
1 971,443
1,396,223
3,922,477
3,150,630
5,363,710
3,999,674
385,758
186,382
8,516
3,448,645
802,413
557,701
$19,852,201
27, 543, 518
33,442,345
39,228,720
37,182, 128
25,821,080
23,992, 453
25,534,439
39.305.788
41,398,872
33.650.412
54,523,390
53,802,822
43,673,480
29,349,385
31,502,796
34,569,158
26,677,724
33,923,252
53,091,038
44.239.789
37,342,698
41,634,217
49.247.413
41,257,053
76,101,578
57,804,063
49,544,255
42,573,115
42 191,095
48,339,918
67,510,521
51.46S, 104
27,797,448
1913
1914
234
REPORT OF THE DIRECTOR OF THE MINT,
GOLD AND SILVER IMPORTED INTO AND EXPORTED FROM
BRITISH INDIA. M
Gold and silver imported into and exported from British India
standard ounces).
since 1873—74 ( British
[From Financial and Commercial Statistics of British India.]
Fiscal year ended Mar. 31.
Gold.
Silver.
Imported.
Exported.
Net im¬
ports.
Imported.
Exported.
Net im¬
ports.
1873- 74 .
1874- 75 . .
Ounces .
Ounces.
Ounces.
331,554
446, 964
355,985
62,696
102,628
177,101
374,227
777,533
1,028,240
1,048,810
1, 138,584
Ounces.
Ounces.
Ounces.
■ 8, 747, 151
1875- 76 .
1876- 77 . . .
1878-79 . .
.
.
. 16,269,590
5,451,074
. 25,229,986
• 51,436,354
i88o^i;;;;;; .
1882- 83 . .
1883- 84 . .
1884- 85 . .
.
.
.
.
13,916,146
27,581,194
13,642,358
18,852,031
26,216,055
22.448 221
1885- 86 . .
1886- 87 . .
1887- 88 . .
1888- 89 . .
569, 684
CIO 00*7
ii,646
50,710
76,848
161,646
285,454
726,925
378,399
926,843
372,432
347,873
397,114
973,053
544,437
393, 174
528,038
37,877, iii"
5,994,542"
5,408,636
5,296,885
4,661,785
5,829,142
8,656,632
5,999,323
5,598,047
7,064 731
** w J * *0,
25,393,863
40,677,913
25,078,814
32 789 MIO
1889-90 . .
oiz, 287
OCA 090
461,577
37,844,665
0*1, lO*, 0*7*7
32 42ft 09Q
1890-91.... .
oOU, Z6Z
1 1 7*! 07.'
773,384
43,940,659
56, 190,870
38,177,580
54,180,144
60,328,296
32,638,069
34,082,810
37,520,322
68,535,612
49,226,780
50,663,542
o*r, 100, u*y
.38 ft43 774
1891-92 . .
1, I/O, 875
7AQ 1 AO
1,014,229
00, trio, / / 4
31 39Q 083
1892-93.... .
iUMj L[)Z
423,648
01, o*y, UoO
32 248 4 20
1893-94.... .
272, 442
47/1 AQR
- 454,483
o4o, 4 00
43 323 312
1894-95.... .
3/4, DOO
OQC Q+TO
96,236
40, 0*0, 0 1Z
34 320 Q79
1895-96 . .
A>o, o/3
AGR arc:
- 689,970
04, 0^0, y/o
27 040 OOO
1896-97.. .
oyo, U55
AR*7 ooo
322, 623
*/ , U4U, UZZ
27 OIS 070
1897-98.... .
OO/, 43o
1 1 OO 1 >40
309,365
11,591,234
-> , uio, u/y
93 Q9Q OCQ
1898-99.... .
i, Jy 149
1 A QO
732,035
24.250*993
zo, y*y, uoo
44 004 A17
1899-1900. . .
1, 4o4, 4ol
1 Q14
410, 461
353,225
1,881,060
1,097,743
770,766
1,764,229
2,088,025
2,461,892
1,022,000
* y y OsJ\J
26,061,355
32.017 °60
44, Zo 4, 01 /
92 lft.3 493
1900-1901.... .
yi4, Uo7
1 QS7 700
1,560,812
-M) IDO, 4Z0
18 A4A OCO
1901-2 . .
1 , Jo 1 , / Oo
1 Q70 Ovin
106,678
64,746,549
66,726,972
75,569, 185
104,324,765
98,118,908
88,853,079
125,878,008
06.358,274
85,048,761
75,501,745
69,272,319
70,378,747
VJL I y
15 311 3£3
lO, 040, Zo.5
4Q 493 1A4
1902-3 . .
A, y / 4,
O 1Q7 004
274,506
27 721 780
4y, 4oo, 104
9Q AK IOO
1903-4 . .
& } lo/ , 384
Q QQA i/»/j
1,416,618
32 2Q4 87fi
oy, uuOj i\fz
40 074 ooo
1904-5 . .
33U, 4t>6
Q AAR At n
1,566,237 1
0—, *31, o/O
23 142 fioo
44,Z/4,0U9
70 1 00 1
1905-6 . .
o, t)U0, 017
O QQA 40 A
1,516,992
23 7fiQ 212
79, 182, 136
74,349,595
0 4 Ol
1906-7 . .
^,3yo, 420
Q A1Q 1 A t
- 65, 472
•*<0, / 03, oil]
4 333 214
1907-8 . .
o,uiy, lol
O QQA 4AR
642,010
599,065
708, 769
2,377,151 1
1, 000, 014
7 fi7Q 1 3 1
u4y ul7j /DO
118, 198,857
97,915,359
73,740, 131
61,014,752
54,876,289
32,229,100
1908-9 . .
o, ooU , 405
1 QQ4 t a^7
2,781,340 1
• , u/tf, 101
8 442 Q1 e:
1909-10.... .
1, Oo4, 107
4 AQR A40
625, 338
O, 11* 3iO
1 1 208 AQ n
1910-11 . .
^,uyo,042
4 R97 AAl
589,906
3,505, 136
A Ay OoU
14 4ftA QOQ
1911-12 .
t, 04/ , Ool
A C71 oto
683,639
647,286
3,843,422
1 4 QQA AQA
0,8/1,212
6,224,026
* * > OjUj UoU
38,149,647
PRODUCTION OF THE PRECIOUS METALS. 235
IMPORTS AND EXPORTS OF BULLION INTO AND FROM LONDON.
The imports and exports of gold and silver bullion to and from
London to various countries, during the calendar year 1914, were as
follows :
Countries.
Imports.
Exports.
Gold.
Silver.
Gold.
Silver.
Austria .
$1,034,934
133,911
1,511,593
719,030
3,342,716
$973
$293,937
2,293,421
57,077,052
$45, 108
1,040,896
1,795,340
Belgium . . . . .
806,019
France .
348,422
Germany .
527,446
27,163,645
7,341,889
Holland .
58,700
3,721,013
2,764,561
54,914
QxxroH on and DenTnark .
253,632
Duccio _ _ ........
1,898
788,504
5,840,734
Rnain Portugal etc .
410, 139
4,029,063
183,905
Switzerland .
82,074
195
1,080,558
149, 168
681
51,531
618
12,755
49,040
1,353
26,693
1, 715, 441
659,411
5,370,475
37, 185
24,882
117, 769
17 1 AQ
Egypt .
16,089,350
58, 446
1 / , 10»
165,772
Ceylon . - * - - - - - • - .
8,539,476
1,’ 029, 177
27,552,926
1 917
Bom Day, Madras, duu umcuiu*. . .
656,846
423
4lf
241,621
OlllbupUi C CUivi i vuunf, • • • • ■
35,214
2y 195, 745
Japan . - .
i, 517, i61
« eno
271 536
1,782,944
170,566
181,764
8,526,619
l,867,bU2
1 958* 494
117,317,212
129, 571
41,248,551
1 15*509
Jiritisn bouin Aincu . . .
34,684, 188
U XlltCQ b vut6S Av/vmf il
Mexico, South America, etc., except Brazil,
23,298,554
23,535,075
1,216,679
42,032
8,400,299
471,393
131,157
21,631
7,049, 125
97,817
1,731,642
British North America .
97, 330
2,828, 249
1,011,799
fUn 123
i, M2, 430
1,008,349
104,474
651,269
246,471,396
289,719,634
58, 155, 112
70,539,939
148,910,277
224,284,126
52,991,683
78,134,444
236
REPORT OF THE DIRECTOR OF THE MINT,
average price of bar silver in London, per ounce British standard
(0 925), since 1833, and the equivalent in United States gold coin, of an ounce 1 000 fine
taken at the average price . , J ’
Calendar
years.
Highest
quota¬
tion.
Low¬
est
quota¬
tion.
Aver¬
age
quota¬
tion.
Value of
a fine ounce
at average
quotation.
Calendar
years.
Highest
quota¬
tion.
Low¬
est
quota¬
tion.
Aver¬
Value of
age
a fine ounce
quota- at average
tion. quotation.
1833.
1834.
1835.
1836.
1837.
1838.
1839.
1840.
1841.
1842.
1843.
1844.
1845.
1846.
1847.
1S48.
1849.
1850.
1851.
1852.
1853.
1854.
1855.
1856.
1857.
1858.
1859.
1860.
1861.
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
1873.
Pence.
59
601
60
60*
Pence.
59
59
59H
60
59*
59.i
60 8
60f
60*
59*
59*
59*
59*
59*
59*
59*
59*
61*
61
60*
61*
61*
61*
61*
61*
61*
61
61
61*
61*
60*
60*
60*
60*
60*
60*
59*
Dollars .
1.297
1874 .
1.313
1875 .
1.308
1876 .
1.315
1877 .
1.305
1878 .
1.304
1879 .
1.323
1880 .
1.323
1881 .
1.316
1882 .
1.303
1883 .
1. 297
1884 .
1.304
1885 .
1.298
1886 .
1.300
1887 .
1.308
1888 .
1.304
1889 .
1.309
1890 .
1.316
1891 .
1.337
1892 .
1.326
1893 .
1.348
1894 .
1.348
1895 .
1.344
1896 .
1.344
1897 .
1.353
1898 .
1.344
1899 .
1.360
1900 .
1.352
1901 .
1.333
1902 .
1.346
1903 .
1.345
1904 .
1.345
1905 .
1.338
1906 .
1.339
1907 .
1.328
1908 .
1.326
1909 .
1.325
1910 .
1.328
1911 .
1.326
1912 .
1.322
1913 .
1. 29769
1914 .
Pence
57*
55*
46*
53*
49'
50
50*
49f
46|
42
43*
41“
41
43]
43
37?
30*
27
27
29:
23
25
26*
27
24
21
21H
24*
25*
29
24*
22
23*
23*
23H
25*
26*
22*
Pence.
53*
56*
531
54**
52*
51
52
51
51f*
4St5
45#
44*
Dollars.
1.27883
1.24233
1. 16414
1. 20189
1. 15358
1. 12392
1. 14,507
1. 13229
1. 13562
1. 10874
1. 11068
1. 06510
.99467
.97946
. 93974
.93511
1. 04634
. 98S00
.87145
. 78030
.63479
.65406
.67565
. 60438
. 59010
. 60154
.62007
. 59595
.52795
.54257
. 57876
.61027
.67689
.66152
.53490
.52016
.54077
.53928
.61470
.60458
.55312
237
PRODUCTION OF THE PRECIOUS METALS.
Commercial ratio of silver to gold each year since 1687.
[Note. — From 1687 to 1832 the ratios are taken from Dr. A. Soetgeer, from 1833 to 1878 from Pixlev rind
Abell’s tables, from 1879 to 1896 from daily cablegrams from London to
from daily London quotations.] '
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
REPORT OF THE DIRECTOR OF THE MINT,
Deposits of gold during the calendar
Locality and description.
Philadel¬
phia.
San Fran¬
cisco.
Denver.
New York.
New
Orleans.
ilabama.
ilaska.
Arizona .
California.-, . .
'olorado . .
Georgia .
daho .
Michigan .
Montana .
Nevada .
"Jew Mexico .
^orth Carolina....
Oregon .
South Carolina .
South Dakota .
rexas .
Utah .
Washington .
Wyoming .
Other States .
Philippine Islands .
Porto Rico .
Total unrefined .
Refined bars below .992 . .
Refined bullion over .992 .
States
States
Total .
U ncurrent U nited
coin purchased.
Uncurrent United
coin transferred.
Annual assay coins .
Special assay coins .
Foreign bullion, unrefined
Foreign bullion, refined . .
Foreign coin .
Jewelers’ bars, dental scrap. .
Deposit melting-room grains.
Surplus .
Gains on shipments .
Gains on light-weight coin
Total deposits.
Redeposits:
Fine bars . .
Mint bars . .
Unparted bars.
Proof bullion . .
Total redeposits .
Grand total .
Fine ozs.
487.331
747.601
17.270
750.803
Fine ozs.
Fine ozs.
509.931
39.221
2.451
.534
11.846
196,489.929
118,405.619
233,731.556
356.437
52. 760
1,547. 184
114.583
157,520.027
Fine ozs.
6,903
36,722. 817
Fine ozs.
37.080
37.785
6. 153
408.860
2,283.937
4,266.559
16,635
125.722
10.432
59,926. 727
8,355. 741
61,719.973
171,212. 147
5,212.865
15.782
10, 178. 705
. 30.853
724.284
25,422.854
22, 169.075
440. 458
27.714
294,859.038
1.148
7.791
i3.698
8.094
344.259
74.216
390. 187
326. 170
36,780.614
133.937
6,997.393
665,027.826
15, 500. 634
1,705,796.959
426,601.187
459,762. 743
70,747.950
354,419.662
3,985.595
1,556, 139.606
38.228
6,997.393
13,378.322
39,857.472
159.517
82.853
1,452.358
2,386,325.419
364.964
957,111.880
21. 187
1,914,544.863
29,074.933
38.228
1,492.010
43,184.343
61,030.603
3,344.408
61,885. 466
i 177.971
344.495
167,062.515
12,108.809
23.602
21.676
1,867.061
5,370. 264
239.997
429,145.995
39,733.934
64,771.550
200,940.698
2 328. 155
36.602
21,429.695
1,337.667
1,268.935
9.715
2.360
127,680.255
2,609,091.328
1,025,640.992
2,678,579.090
25,576.250
5,602. 104
2,282,024.625
10, 101.918
193.500
546,927.796
120.938
33,727.226
96.750
4.837
5,602. 104
10,295.418
547,048.734
Value of deposits . . .
Value of reaeposits.
Total value .
Number of deposits.. .
Number of redeposits.
Total .
133,282.359
$2,639,385.05
$115,805.77
2,315,848.601
4.837
2,619,386. 746
$53,938,704.44
$208,825. 17
1,572,689.726
$21,204,381.13
$11,305,000.97
4,994,427.691
$55,373,144.17
$47,870, 839.31
25,581 087
$528,807.77
$2,755,190.82
$54,147,529.61
$32,510,382. 10
$103,243,983.48
4,395
4
$528,807.77
9,002
298
3,690
1,635
11,717
309
398
4,399
9,300
5,325
12,026
398
i Philadelphia, 171.812 fine ounces; St. Louis, 4.140 fine ounces; Charlotte, 2.019 fine ounces.
PRODUCTION OF THE PRECIOUS METALS,
239
240
REPORT OF THE DIRECTOR OF THE MINT,
Deposits of silver during the calendar
Locality and description.
Philadelphia.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Idaho .
Michigan .
Montana .
Nevada .
New Mexico.. . .
North Carolina.
Oregon .
South Carolina .
South Dakota..
Texas .
Utah .
Washington....
Wyoming .
Porto Rico -
Philippines -
Other .
Total unrefined. ...
Refined bars below .992. .
Refined bullion over .992 . . .
Fine ozs.
51.48
84. 35
.26
115. 19
49. 68
4.34
8,448.86
.20
156. 84
San Fran¬
cisco.
Fine ozs .
20,330. 27
62,302. 19
72,973.13
153.86
168. 74
932. 67
2. 48
12.25
2. 60
3.34
9, S64. 54
3,’ 837, 037* 55
26 Total
27 I Uncurrent United States
coin purchased.
28 | Uncurrent United States
coin transferred.
29 I Annual assay coins
30 Special assay coins .
31 Philippine coins for recoinage
32 Foreign bullion unrefined...
33 Foreign bullion refined
34 Foreign coin .
35 Philippine assay coins
36 Jewelers’ bars
37 Deposit melting room grains
38 Surplus bullion
39 Gain in assays
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
Total deposits.
Redeposits:
Fine bars .
Mint bars .
Unparted bars..
Proof bullion.. . .
3, vS46, 902. 09
1,714.97
449,834. 35
128. 07
46. 10
78.84
24, 461.00
7,730. 12
88,234. 16
i 318. 51
2, 171. 54
4,421,639. 75
Total redeposits.
Grand total .
381.56
381. 56
Subsidiary value of deposits.
Subsidiary value of rede
posits.
$6,112,513.91
527.47
Total.
Cost value of deposits. . .
Cost value of redeposits.
Total .
Number of deposits
dor bars.
Purchases and Philippine
recoinage.
4,422,021.31
6,113,041.38
4,762,034. 19
198. 41
4,762,232.60
678
4
3,355
4,037
1.63
39,983.90
32,695.61
2,839.30
i.6.38
. 5. 54
201. 72
6,042. 96
237,715.23
162. 13
784,866.91
1,022, 744.27
110. 40
16,330.34
168.658. 65
224,403. 70
49,928. 30
138,286. 52
1
16,649! 41
20. 92
3, 450. 94
1,640,584. 77
58.816.58
5,619. 45
64,436.03
1,705,020. SO
S2, 267, 958. 8S
89,076.94
2,357,035.82
8S9, 355. 09
34,113.88
925,468.97
318
57
1,214
1,589
Denver.
Fine ozs .
5. 79
10,935 43
56.76
381,915. 40
650. 62
8, 192. 33
36,271.58
23,832. 96
5, 160. 51
*42*669*91
432. 35
139. 07
31. 13
510, 293. 84
36,320. 24
2,311,684.20
2,858,298. 28
132. 71
25, .537. 35
9,603.59
11, 728. 56
25S.95
1,263. 42
New York.
Fine ozs.
3. 49
8, 484. 70
6.29
.73
519. 28
2. 08
1,087, 499.59
89. 71
3.00
90,632.83
22. 95
1, 187, 264. 65
64,046. 76
1, 178, 13S. 70
2,429,450.11
1,346,671.81
76, 705. 40
430,344.50
2 797. 27
708. 77
2,906,822.86 4,2S4,677.86
210,570. 03
100.00
210,670. 03
3,117,492.89
4,018,555. 57
291,093. 87
$5,923,4.53. 02
14,523.41
4,309,649. 64
$1,641, 0S5. 58
113,112.96
1, 754, 198. 54
919
919
10, 505. 8/
200.00
10,705. 87
4, 295, 3S3. 73
5,937,976. 43
2,298, 235. 07
5,634.91
2,303,869. 98
2,361
2,361
New Orleans.
Fine ozs .
. 2*53
.13
2. 66
2. 66
36. 13
7,306.96
. *37
627. 48
4.42
30.26
8, 00S. 28
8,008.28
$11,070. 72
11,070. 72
4,351. 40
4,351. 40
1 Philadelphia, 315.52 fine ounces; St. Louis, 1.93 fine ounces; Charlotte, 1.06 fine ounces.
PRODUCTION OF THE PRECIOUS METALS.
year ended Dec. 81, 1914.
241
242
REPORT OF THE DIRECTOR OF THE MINT,
Mutilated and uncurrent domestic coins received for
Denomination.
GOLD.
Double eagles. .
Eagles .
Half eagles .
S3 pieces .
Quarter dollars.
Dollars .
Total gold .
SILVER.
Trade dollars...
Dollars .
Half dollars _
Quarter dollars.
20-cent pieces. . .
Dimes .
Half dimes .
3-cent pieces _
Total silver .
NICKEL.
5-cent pieces .
3-cent pieces .
1-cent pieces .
Total nickel. . . .
BRONZE.
2-cent pieces .
1-cent pieces .
Total bronze. ..
COPPER.
1-cent pieces .
SUMMARY.
Gold coins. .
Silver coins.
Nickel coins . .
Bronze coins . .
Copper coins . .
Gold, coining value . .
Silver, subsidiary coining value
Nickel coining value . .
Bronze coining value . .
Copper coining value . .
Loss, gold . .
Loss, silver . .
Loss, nickel . .
Loss, bronze .
Loss, copper .
Philadelphia.
Received
from
Treasury.
$153,640.00
232,250.00
439,270.00
33.00
6,530.00
57.00
831,780.00
191,232.50
242,396.00
53.60
234,016.00
434. 55
40.35
668, 173. 00
2 685,092.80
370. 08
529. 40
685,992.28
285.24
41,607.30
41,892. 54
219. 43
Fine ounces.
39,857.472
449,834.35
Troy ounces.
2,109,868. 20
404,967.00
7, 128.00
$823,927. 07
621,855.00
672,813.97
40, 496. 70
203. 65
7,852. 93
46,318.00
13, 178. 31
1,395.84
15. 78
Purchased.
$63,240.00
100, 440. 00
117,060.00
9.00
3, 182. 50
137.00
1 284, 068. 50
San Francisco.
Received
from
Treasury.
Purchased,
$3,700.00
1,530.00
2,340.00
109.00
707.00
878.00
575.00
389.60
1.65
1 2, 660. 25
50. 30
50.30
86. 12
86. 12
.60
Fine ounces.
i 13,620.692
1 1,889. 14
Troy ounces.
151.51
829. 79
14.58
$281,564.69
2,611.56
47. 12
82.97
.42
2,503.81
48.69
3. 18
3. 15
.18
$14,000.00
7,000.00
3,000.00
24,000.00
100.00
7, 670.00
98.50
43.50
23. 10
165. 10
Fine ounces.
16,330. 34
Troy ounces.
$22, 575.20
1,424.80
Fine ounces.
364.964
110. 40
Troy ounces.
$7, 544.44
152.62
125.56
12. 4S
Denver.
Purchased.
$40.00
160.00
210.00
9.00
42.50
1.00
462.50
105.00
44.00
23.25
13.30
.03
185.58
Fine ounces.
21. 187
132. 71
Troy ounces.
$437.98
183.46
24.52
2. 12
1 Includes special assay coins— Gold, $1,712.72= 82.853 fine ounces* silver saa 7a_ ar in c,™ _ „
Annual assay coins-Golcf, *3,297.50=159.517 fine ounces; silver, *177 05= 128^07 totoiiw
PRODUCTION OF THE PRECIOUS METALS,
243
244
REPORT OF THE DIRECTOR OF THE MINT
Assets and liabilities of the United States
ASSETS.
Institutions.
Gold bullion.
Silver bullion.
•
Gold coin.
COINAGE MINTS.
Philadelphia .
For San Salvador Gov¬
ernment .
Fine ounces.
250,686.266
$5, 182, 144.30
Fine ounces.
304,657.25
196. 41
1,672,841.71
36,058.78
2,917,365. 19
1,349,697.29
815. 74
862. 60
2, 745. 43
1,797. 91
1,945. 48
2,488.30
200.52
SI 73, 885.28
271.51
919,223. 77
23,538.80
1,651,211.85
737,659.39
391.55
414.49
1,334.37
877. 57
965. 99
1, 195. 79
95. 43
$186,194,503.60
San Francisco .
lor Philippine Gov¬
ernment .
8, 744,646.622
180,767, 888.82
15,972,820.03
Denver .
ASSAY OFFICES.
New York .
New Orleans .
Carson .
Helena .
Boise .
Deadwood .
Seattle .
Salt Lake City .
Total .
2,217,840.507
3,493,970. 537
2,224.207
1,488.885
1,996.115
1,739. 156
1,615.029
6,698. 087
274. 835
45,846,832.17
72,226, 781.10
45,978.55
30, 778. 14
41,263.35.
35, 765. 28
33,384.24
138,461.26
5, 681.02
386,631,387.54
14, 723,171.246
304,354,958.23
6,291,672.61
3,511,065.79
588, 798, 711. 17
LIABILITIES.
Institutions.
Bullion fund.
Undeposited
earnings.
Seigniorage
on silver.
Unpaid
depositors.
COINAGE MINTS.
Philadelphia .
$300,635, 162. 19
259, 577, 883. 06
440, 130, 708. 96
$3,481.88
• 17,583.72
$21,031.39
$17,619. 83
430,233.80
San Francisco . .
Denver .
ASSAY OFFICES.
197, 453. 89
New York .
76, 180,628.57
Qno rui
New Orleans .
Carson .
22,594,545.55
76, 183. 18
124,082.98
117,107.59
41,849.11
344,131.55
42,581.06
13. 13
yuo. UO
73.79
Helena
8.83
Boise .
5.33
Deadwood .
Seattle .
.01
Salt Lake City .
7.66
Total .
1,099,864,863.80
21, 100. 56
218,485.28
448,830.48
tRODUCTiON OF THE PRECIOUS METALS. 245
mints and assay offices Dec. 31, 1914.
ASSETS.
Silver coin.
Credit with
Treasurer
United States.
Minor coin.
Minor
coinage
metal.
Deficiency.
Total.
5108,577.541.50
$550, 167.62
$607,131.02
$349,030.05
$301,634,403. 37
271. 51
260,144,340. 18
23, 729. 86
440,502,685. 77
76, 181,531.63
22,594,632.47
76, 192. 01
124,088.31
117, 107. 59
41,849. 12
344, 131. 55
42,588.72
61,749,483.94
649,678.45
60,863.09
24,388.08
191.06
17,539.63
1,940,240.59
4,250,990. 70
3,217,091.14
73,262. 37
44,999. 38
81,490.59
80,455.18
7,498.89
204,474.50
36, 812. 27
156,983. 29
$7,500.00
22,475,000.00
9. 56
194,742, 266.03
9, 196,921.09
824,977. 40
391, 148. 82
7,509.56
1,101,827,558.09
LIABILITIES.
Minor coinage
profits.
Minor coin metal
fund.
Treasurer United
States, unpaid
depositors, etc.
Government of
the Philippine
Islands and San
Salvador.
Total.
$179, 037. 13
32,668. 72
5,023.75
$702, 146. 34
24,947.74
18,315. 64
•
$75,924. 61
27, 634. 71
151, 183. 53
$271. 51
57, 124. 29
$301, 634, 674. 88
260, 168, 076. 04
440,502,685.77
76,181,531.63
22,594,632. 47
76, 192. 01
124, OSS. 31
117, 107. 59
41,849. 12
344, 131.55
42,588.72
216,729.60
745,409. 72
254, 742.85
57,395. 80
1, 101,827,558.09
246
REPORT OF THE DIRECTOR OF THE MINT,
Imports of gold and silver in ore, bullion, and coin,
[Compiled by Bureau of Statistics.)
Countries.
France .
Germany . ’**
Gibraltar . ] .
Greece .
Roumania .
Servia .
Spain .
United Kingdom— England .
Bermuda .
British Honduras..
Nova Scotia, etc.
Quebec, Ontario, etc .
British Columbia .
Costa Rica .
Guatemala . *"
Honduras .
Nicaragua .
Panama . ’*’***
Salvador .
Mexico .
Barbados .
Jamaica .
Trinidad .
Other British . ”*
Cuba .
Banish West Indies. .
Butch West Indies .
French West Indies. .
Haiti .
Santo Bomingo .
Argentina .
Bolivia .
Chile .
Colombia .
Ecuador . ’*
Guiana— British . '
Peru . *['
Venezuela . ’ ’
China . ”***
Chosen . ]
East Indies, other British . ..!
Japan .
Australia and Tasmania.
French Oceania .
Philippine Islands .
German Africa .
Total.
Gold.
Ore and
base
bullion.
Value.
$24,804
87
52,332
Bullion, refined.
Ounces.
3,590
63
1,400
3,311
1,385
633
5,172,446
3, 964, 06G
105,931
17,025
17,410
437,973
6, 190
1,123,047
18,032
58,564
14,730
1,203
10, 119
27,946
4,357
20,420
11,076,082
15
69
1 11,998
214, 423
115,833
27,529
15,068
7,078
1,497
30,916
177,301
95
267
998
12
15
692
97
44
131
18,043
140, 699
13,552
975
9,914
13,891
21,533
10,482
19,194
161
862,894
Value.
$73,988
1,302
28,211
65,724
28, 123
12, 845
70
1,320
197,500
3,560,104
2, 298, 034
558,077
Coin.
United
States.
Value.
$21,885
513
31,519
309,273
141,640
29,648
638,969
3,585,227
2,000
5,396
19,760
256
320
5,755
12,770
2,330
50,000
3,624
[15,964,071
868,470
125,000
925
250
12,005
1,957
884
2,590
360.270
2,857,167
273,582
19, 497
200, 070
278, 135
445,020
211,852
383,741
3,333
16,607,890
34,982
140,321
50,000
62,547
1,052,636
2,915
19,932
4,695
181,297
31,410
500,000
95,906
77,716
Foreign.
19,341,469
‘ Unitod Statcs mint or assay office bare.
Value.
SI, 156
2,650
5,095
15,504
100
16,094
9,755
1.784,302
2,879
616
83,544
834
922,017
1,541
18,704
891
4,943
118
119,660
75,277
7,295,000
300
720
Total gold
Value.
10,361,700
8121,833
4,039
513
36,614
28,211
65,724
33,878
93, 451
2, 430
66,094
14, 769
26,678,423
7, 130,570
789,008
17,025
326,683
580,538
36,088
638,969
4,746, 135
2,000
146,333
153,304
63,637
1,993,005
4,456
50,641
7,543
186,240
32,412
500,000
2,590
418,834
3,087,463
274, 7S5
19, 497
210,189
431,128
445,020
27,946
7,506,852
388,398
720
23, 753
57,387,741
PRODUCTION OF THE PRECIOUS METALS
247
by countries, for calendar year ending Dec. SI, 1914.
Otporli of,M md diner in or., MKon. and coin, by "an, rice, for ,b, calendar year ending Dec. St, 1SU
[Compiled by Bureau of statist lea.]
DOM1C8TIO EXPORTS.
248
REPORT OF THE DIRECTOR OF THE MINT.
PRODUCTION OF THE PRECIOUS METALS
249
§
&
©
©
i
o
I
a
3
*
cc
'g
1
p
250
REPORT OP THE DIRECTOR OF THE MINT.
Oi
JS
►o
£
<3
3
fO
o3
•*-»
CG
V-I
O
3
3
PQ
>>
,Q
.*3
Q*
a
o
o
"3
£
<3
§>
o
£
o
194,964 1,554,542 192,474 25, 959, 187 | 83, 346, 928
DOMESTIC EXPORTS.
PRODUCTION OF THE PRECIOUS METALS.
251
1 United States mint or assay office bars.
252
REPORT OF THE director of the mint.
Coinage of the United States during the calendar year ended Dec. 31, 1914
Denomination.
Double eagles .
Eagles .
Half eagles .
Quarter eagles .
Total gold....
Half dollars .
Quarter dollars .
Dimes .
Total silver. .
Five-cent nickels. . .
One-cent bronze _
T otal minor .
Total coinage
Philadelphia.
Pieces.
95, 330
151,050
247, 125
240,117
733,612
124,610
6,244,610
17,360,655
23,729,875
20,665,738
75,238,432
95,904,170
120,367,657
Value.
81,906,400.00
1,510,500.00
1,235,625.00
600,292.50
5,252,817.50
62,305.00
1,561,152.50
1,736,065.50
3,359,523.00
1,033,286.90
752,384.32
1,785,671.22
10,398,011.72
San Francisco.
Pieces.
1,498,000
208,000
263,000
1,969,000
992,000
264,000
2,100,000
3,356,000
3,470,000
4,137,000
7,607,000
12,932,000
Value.
$29,960,000.
2,080,000.
1,315,000.
33,355,000.00
496,000.00
66,000.00
210,000.00
772,000.00
173,500.00
41,370.00
214, 87a 00
34,341,870.00
Denomination.
Double eagles. .
Eagles . .
Half eagles _
Quarter eagles.
Total gold.
Half dollars _
Quarter dollars.
Dimes .
Total silver.
Five-cent nickels.
One-cent bronze..
Total minor...
Total coinage.
Denver.
Total.
Pieces.
Value.
Pieces.
Value.
453,000
343,500
247,000
448,000
$9,060,000.00
3,435,000.00
1,235,000.00
1,120,000.00
2,046,320
702,550
757, 125
688,117
$40,926,400.00
7,025,500.00
3,785,625.00
1,720,292.50
1,491,500
14,850,000.00
4, 194,112
53,457,817.50
3, 046, 000
11, 90S, 000
76i,500.00
1,190,800.00
1,116,610
9,554,610
31,368,655
558,305.00
2, 3SS, 652. 50
3, 136, S65. 50
14,954,000
1,952,300.00
42,039,875
6,083,823.00
3,912,000
1,193,000
195,600.00
11,930.00
28,047,738 1
80,568,432
1,402, 3S6. 90
805, 6S4. 32
5,105,000
207,530.00
108,616,170
2,208,071.22
21,550,500
17,009,830.00
154,850,157
61,749,711.72
lo^fo^S^Salvador™ at PhiI^elPhia coined the fol-
Denomination.
Pieces.
Value.
Peso, silver .
25 centavos, silver . .
2,100,020
1,400,020
1.500,020
2,000,020
Pesos .
2, 100,020
350,005
150,002
100,001
lv VrClilO > w , jil 1 ci # . . .
5 centavos, silver . .
Total .
For Costa Rica: . • .
50 centavos, silver .
7,000,080
2,700,028
Colones.
202,213
150 000
101, 106. 50
i s; rwt nn
Total. .
507,212
uu
25,360.60
. . . .
For Ecuador, 20 sucres, silver.
859,425
2,500,000
141,467.11
Sucres .
500,000.00
838
253
PRODUCTION OF THE PRECIOUS METALS.
The mint at San Francisco also coined for the Philippines:
Denominaijoa.
Pieces.
Valne.
2fj cemavos. silver .
- - - ' -
P£90*-
10 ceuavos. silver .
1 centavo, bronze .
11?, KJJJ
■3 Wjy WW
LIFE OF COINAGE DEES.
Average number of pieces struck per die at the coinage mints
during the calendar year 1914:
PbiiadelpLia.
San FraDcaea
Denver.
Denomination.
AvHize pieces
per die.
Average pieces
per die.
Average pieces
perdie.
Obverse,
Reverse.
Obverse.
Reverse.
Obverse.
i
IMIED STATES.
Doobieeasks .
Eagles ' .
25.469
26.225
14,554
26,228
58, 295
42,106
27.614
52.632
51.351
n;ns
46.216
50,870
Half
25. SKI
37.116
41,519
41,519
71.274
57.019
ClTMrtAT _
36.510
70,734
36,810
70,734
175.254
152r9v3
95,61s
95,915
T7«lf
71.-5S8
107,398
Crasner dollars. .
Flimeg _ _ _ _ _
150, SOO
164.421
74.047
212.431
74.047
iso;n9
67,244
102. L34
77.862
102, 134
57,977
172. 153
Five-cent nickels .
OrvMvnt hnmze . . .
96.4T.K
336.027
103,969
313, 719
54.288
260,206
*0,199
231,294
64.523
330,081
SALVADOR-
SO. 166
68,80©
43.623
9S, 749
94.CN5
68, 800
31r*J9
Sr?. 749
.
10 centavos .
COSTA RICA-
52.424
52,424
55,702
39,170
10 centimes . . . . - .
55.702
39' 170
ECUADOR-
106,772
76,266
-
FHmPPTSXS-
82,817
71.387
82.817
48.543
7T) centavos .
- - - -
L........ -
13 cent* . .
139.629
139,629
. j-
PRODUCTION OF GOLD AND SILVER IN FOREIGN COUNTRIES.
NORTH AMERICA.
British North America.
PRODUCTION OF GOLD AND SILVER IN CANADA DURING THE CALEN¬
DAR YEAR 1914.
[By John McLeish, B. A., chief of the division of mineral resources and statistics, Canada department of
mines, Ottawa, Canada.]
Gold. — The total production of gold in placer and mill bullion and
in smolter products in 1914 is estimated at 770,374 fine ounces,
valued at $15,925,044, as compared with 802,973 fine ounces, valued
at $16,598,923, in 1913, showing a decrease of $673,879, or about 4
per cent.
Of the total production in 1914 about $5,695,508 was derived
from placer and alluvial mining; $6,050,690 in bullion from milling
ores; and $4,228,846 from matte, blister copper and other smelter
products, etc. In 1913, of the total production, about $6,346,072
were derived from alluvial workings; $5,185,544 in bullion from
milling ores; and $5,067,307 from smelter products derived from
ores, concentrates, etc., smelted.
The production in Nova Scotia and Quebec is small compared
with the other Provinces, but shows an increase of over 25 per cent
in 1914.
Tho Ontario production, $5,546,356, shows an increase of over
$1,000,000, due to tho extension of milling facilities in the Porcupine
field.
No records have been received with respect to gold production in
the Beaver Lake district of Saskatchewan, or of recoveries from the
river bars near Edmonton, Alberta, although activity has been
reported in both localities.
The exports of gold-bearing dust, nuggets, gold in ore, etc., in
1914 were valued at $15,242,200.
British Columbia. — The production in British Columbia was
$5,177,343, of which $524,000 is credited to placer workings as esti¬
mated by the provincial mineralogist and $4,653,348 to smelter
products and bullion from milling ores. The British Columbian
production in 1913 was $6,149,027, being $510,000 from placer
workings and $5,639,027 from smelter products and mill bullion.
The Yukon production shows a falling off of $721,384, the total in
1914 being $5,125,396, including a small value in mill bullion, as
against $5,846,780 in 1913. The total amount on which royalty was
paid during the year 1914, according to the records of the mining
lands and Yukon branch, Interior Department, was 309,691.17
ounces, as against 352,000.04 ounces in 1913.
254
PRODUCTION OF THE PRECIOUS METALS. 255
Smelter and refinery production in 1914.
Classification.
Refined
products.
Metals con¬
tained in
matte,
blister,
and base
bullion.
Gold .
Ounces.
1 1 0K8
Ounces .
17H 81 8
Silver .
ilf vOO
11 006 861
1 /u, olo
CTQ 400
AAj oux
O 1 0, iW
Mineral production by provinces 1913 and 1914.
Provir ce.
1913
1914
Nova Scotia .
$19 376 183
SI 7 514 786
New Brunswick .
Vj KJ 1 \Jy 1W
1 102 613
VA i y X *!X y f OU
1 034 706
Quebec .
Aj AV/A/j Ultl
13 475 534
X, OOl , (uU
12 25Q 637
Ontario .
AOj *1 4 \Jj UO*X
5Q lfV7 74Q
4iOX 7, DO i
52 147 Q73
Manitoba .
UUy XUl y
2 214 4Qfi
04 1, 11 ( , & to
2 428 002
Saskatchewan .
£iy j 15U
881,142
1H 0t4 04fi
710 840
Alberta .
i XU, oiu
12 773 66Q
British Columbia .
A<Jj vlTI j VrlU
28 086 312
X^5r, | 1 O, UUi/
24 202 Q24
6 276 737
5 409 009
Total (Dominion) .
V, 4(0, lOt
145 634 812
0, e±\J6j UDZ
19C 47T AQQ
x^oy ”i i o, ^yy
Silver. — The falling off in price of silver, amounting to 4 cents on
the average price for the year, the cessation of price quotations, and
the difficulties of marketing the metal immediately following the
declaration of war, restricted the operations in the Cobalt camp,
causing a lower production than might have been expected under
normal conditions.
The total Canadian production in 1914 was 27,544,23 1 ounces, valued
at $15,097,269, as against 31,845,803 ounces, valued at $19,040,924,
in 1913 — a decrease of 4,301,572 ounces, or 13.5 per cent in quantity’
and of $3,943,655, or 20.7 per cent in total value.
Of the total production, 24,215,926 ounces, or 88 per cent, is
credited to Ontario. The production from the silver camps is re¬
ported as 9,614,069 fine ounces in bullion shipped and 14,544,524
ounces (after deducting 5 per cent for smelter losses) contained in
ore and concentrates shipped from Cobalt district. There is also
included in the total a small quantity of silver contained in gold
bullion shipped.
The Ontario production in 1913 was 28,411,261 ounces, showing a
falling off for the Province of 4,003,805 ounces, or about 14.1 per cent.
In addition to the bullion shipments from the Cobalt camp, 9,052 -
993 ounces were produced in other silver refineries in the Province
making a total of 18,667,062 ounces, or 67.7 per cent of the Ontario
production, recovered within the Province in the form of bullion.
The production in British Columbia, representing refined silver
and silver contained in smelter products, and estimated recoveries
from ores exported, was in 1914 about 3,212,111 ounces, as compared
with 3,312,343 ounces in 1913.
In Quebec Province there is a small silver content in the pyrites
ores shipped, while in the Yukon 67,432 ounces are estimated as being
contained in the placer gold produced and recovered from the copper
ores shipped from Whitehorse.
The exports of silver bullion in ore, etc., as reported by the customs
department, were 28,020,089 ounces, valued at $15,584,813.
256
report of the director of the mint.
CANADA.
IBy Consul General John G. Foster, Ottawa, in Daily Consular and Trade Reports, Mar. 11, 1915.]
Imports.
Exports.
Classification.
1913
1914
Classification.
1913
1914
Coin and bullion .
$14,175,708
$132,864,585
Coin and bullion .
$13,894,418
$19,618,773
Exports to United States from Ottawa consular district, 1914:
Establishment of a gold depository— With, the outbreak of yar in
Europe the financial and banking situation in Great Britain ami
Canada became seriously disturbed, and immediate steps were taken
by Canada to avert panic and safeguard gold reserves. Besides
providing for the establishment of a moratorium, the issue oi emer¬
gency currency, and other precautionary measures, the Bank o
England arranged to establish in Ottawa a depository where gold
could be received without the risk of ocean shipment, the minister ot
finance in Canada acting as trustee to hold gold for account of the
Bank of England. United States bankers desiring to pay gold to
London forwarded it to the minister of finance at Ottawa ioi accoun
of the Bank of England, and in this way obviated the actual shipment
of wold across the Atlantic to make payments in London. Exchange
rates were thus eased, and United States and Canadian exports,
which went forward to Europo in the fall, helped to restore the finan¬
cial balance. , . . _ ,,
The arrangement under which the minister of finance was authoi-
ized to receive gold in trust for the Bank of England was, briefly, as
follows: The minimum of the transaction was established at $20,000;
shipments to be made in kegs or boxes, and a statement that the
amount was to be held in trust for the Bank of England to accom¬
pany the shipment, which was to bo addressed to the minister ot
finance and receiver general of Canada, at Ottawa; the minister to be
advised also to whom the proceeds were to be paid in London. On
the wold being received and checked the Bank of England was advised
by cable of the amount and the person to whom the proceeds were
payable in London. The rate established by that institution for
o-old was 77s. 6d. (S1S.S6) per ounce for standard fine bars and
76s. Ad. ($18.50) per ounce for eagles. If sovereigns were accom¬
panied by a guaranty from the person shipping same that they were
of correct standard weight, namely, 122.5 grains for sovereigns and
61.125 for half sovereigns, the banks would pay out a like amount in
pounds in London, less 3 pence per ounce to cover freight and insur¬
ance. It was this arrangement that largely accounted for the heavy
increase shown in imports of coin and bullion.
Measures adopted to safeguard financial situation. — In addition to
this arrangement with the Bank of England, a number of important
measures were taken by the Canadian Government to safeguard the
financial situation. These measures have been summarized by the
Monetary Times annual as follows:
PRODUCTION OF THE PRECIOUS METALS.
257
1. The Dominion Government stood ready to issue Dominion notes to such an
amount as was necessary against securities deposited by the banks and approved by
the minister of finance. 3
. Government authorized the chartered banks of Canada to make payments
in bank notes instead of in gold or Dominion notes until further official announcement
in that behalf.
3. The redemption in gold of Dominion notes was suspended.
4. The Government authorized the chartered banks of Canada to issue excess
circulation to an amount not exceeding 15 per cent of their combined unimpaired
paid-up capital and rest or reserve fund from August 3 until further official
announcement.
5. Legislation was obtained to declare a moratorium if necessary.
6. The power of issue of Dominion notes was increased by providing that the finance
minister should hold gold to the amount of 25 per cent of the Dominion notes issued
up to a total issue of $50,000,000, and in regard to Dominion notes issued in excess of
that amount gold to be held equal to such excess.
7. A war appropriation of $50,000,000 was voted for the fiscal year that will end on
March 31, 1915.
8. Tariff legislation was passed involving new taxation to increase revenue.
The effect of these measures was to stabilize the financial situation,
to assist materially in financing the operations of railways, provin¬
cial governments, municipalities, and corporations, and to conserve
the Canadian gold supply against demands from foreign sources.
Difficulties in financing projects. — While these measures had a
marked effect in steadying the financial situation in Canada, the
country was in the position of being suddenly deprived of large
supplies of capital that had been supplied from Great Britain for
several years, and of having to meet heavy sums for interest obli¬
gations due in London, which heretofore had been largely met by
the floating of new loans. Canadian borrowers in Great Britain
are chiefly” the Dominion Government, nrovincial governments,
municipalities, industrial corporations, and loan and mortgage com¬
panies. While the special measures taken in Canada to increase
revenue, and the emergency measures previously mentioned have
somewhat relieved the Federal Government, and the provincial gov¬
ernments have been helped by the sale of debentures and bonds in
Canada, Great Britain, and the United States, municipalities and
industrial corporations have experienced some difficulty in financing
their requirements, and are looking to the United States as a market
for some of their securities. . , , .
Although a large amount of Great Britain s heavy war loans
have been set aside for advances to the Dominion, these advances
are to provide funds to meet naval and military expenditures and
not to finance development undertakings. The recent action, also,
of the British Government in prohibiting the issue of public loans
outside of Great Britain, except in special instances to cover colonial
needs for war purposes, will prove a strong factor in sending Cana¬
dian borrowers to New York for financial assistance, particularly in
the case of bonds and debentures of municipalities and industrial cor¬
porations. Unless Canada is able to finance these various undertak¬
ings successfully its power as a purchaser and consumer will be
materially curtailed. In this connection a statement made by Sir
Edmund Walker, president of the Canadian Bank of Commerce, at
the annual meeting of that institution, is pertinent and illuminating:
“We can not,” said Sir Edmund, “too often draw the attention of
the United States to the fact that when our foreign trade is analyzed
the net debit for the difference between our sales and our purchases
9700°— 15-
-17
258
REPORT OP THE DIRECTOR OF THE MINT.
is payable to them and not to Europe. If the war prevents London
from buying our securities, either the United States must buy them
or our great trade with that country must fall away.”
BRITISH COLUMBIA.
Quantity and value of the gold and silver product, 1912, 1913, and 1914.
[From annual report of the minister of mines for the year 1914, Victoria, British Columbia.]
Year.
Gold.
Silver.
Placer.
Lode.
Ounces.
Value.
Ounces.
Value.
Ounces.
Value.
1912 .
$555,500
510,000
565,000
257,496
272,254
247, 170
$5,322,442
5,627, 490
5, 109,004
3, 132, 108
3, 465,856
3,602,180
$1,810,045
1,968,606
1,876,736
1913 .
1914 .
The United States vice consul reports the amount of gold and
silver produced from mines of Canada during the calendar vear
1914, as follows:
1914
Gold.
Silver.
Kilograms
(fine).
Fine
ounces.
Value.
Kilograms
(fine).
Fine
ounces.
Value.
Domestic production .
24,048.50
77Q iai io
$15,983,008
883,568.30
28,406, 721
$15,570,377
1 (O, 11) I. LZ
.^jJ^States consulT l’ePorts that gold bullion to the value of
S4,o00,000 was exported from Yukon Territory during the calendar
year 1914. J &
A ora Scotia.— Production 1 1913: Gold-bearing ore, 7,324 short
tons; gold, 2,365 ounces. 1914 2: Gold-bearing ore, 13,156 short
tons; gold, 3,158 ounces.
Central American States.
k of g°ld antl silver in the Central American States
tVioir nr ‘win t ass.ummg that their export figures represent
from PwSSq* Jhe foUewmg table is compiled, for the most part,
Horn United States lmnort fieri iraa f nv _ 1
States.
Costa Rica .
Nicaragua . " ’
Honduras .
Salvador .
Guatemala . * * ’
Brit ish Honduras . . . . !
Panama .
Total.
1 Report of Department of Mines, 1914.
Gold.
Silver.
Kilograms.
Fine
ounces.
Value.
Kilograms.
Fine
ounces.
Value.
1,000
872
419
961
26
32, 121
28,039
13, 465
30,910
824
$664,008
579,613
278,348
638,969
17,025
9,500
74
51,579
13,302
305,430
2,390
1,658,266
427,674
$168,903
1,322
917,021
236,504
35,838
719
23, 12S
i2,790
3,332
107,093
2,213,801
75, 174
2,416,888
1,336,540
2 United States consul general.
PRODUCTION OF THE PRECIOUS METALS.
259
PRODUCTION.
Salvador. No reliable official returns having been received from
this country regarding the production of gold and silver, in accord¬
ance with the practice heretofore, the figures showing the imports
from Salvador to the United States, furnished by the Department of
Commerce and Labor — viz: Gold bullion, $638,969; silver bullion,
$236,504 — are accepted as the probable production for the calendar
year 1914.
Costa Rica. — The imports of gold ore and bullion into the United
States from Costa Rica during the calendar year 1914 were valued at
$664,008, and silver bullion at $168,903, which amounts are accepted
as the production of Costa Rica in the absence of official returns.
Nicaragua. — No official returns from this country regarding the
production of precious metals during 1914 have been received.
From the statement of imports prepared by the Department of
Commerce and Labor the value of gold ore and bullion imported
from Nicaragua into the United States amounted to $579,613, and
silver bullion $1,322, which figures are accepted as approximately
correct for the production of that country during 1914.
Guatemala . — According to the report from the Department ol
Commerce and Labor, the imports of gold contained in ore and base
bullion from Guatemala into the United States during the calendar
year 1914 were valued at $17,025. . .
British Honduras.— No report upon the production of precious
metals during 1914 has been received, neither were any imports ol
gold ore or gold bullion reported from that country during the
calendar year 1914.
Exports of goW and Oliver from Salvador, 1909-1913, inclusive.
[From Bulletin of the Pan-American Union, October, 1914.]
Years.
Gold, in
bars.
Gold and
silver
amalgam,
concentrates,
etc.
Silver, in
bars.
Coin
(silver).
$688, 509. 54
601,318. 67
973,368. 62
607,603.08
81,405.00
$111,581.14
167.800.40
124,770.15
799,255. 42
973.736.40
$300, 745. 35
487,063. 41
523,233.62
148,115.90
21,572.30
$15,192.66
HONDURAS.
Gold.
Silver.
Source.
Fine
ounces.
Value.
Fine ounces.
Value.
From deep mines . * .
13,699
$273,980
1,802,318. 40
i $903, 916. 89
i United States currency.
1 u 11 li eu - - -
^ q o'w tmis of cold and silver yielding rock, the value
o cures there was milled 2,232 tons oi goia j ossible to ascertain what
of^he resiiVtta'g i^rodu^t ^^K *1Jjj|^ ^^,t^t'refiresentUilver^ The
rock, so that in the second case the meva
260
REPORT OF THE DIRECTOR OF THE MINT.
PANAMA.
The importation of gold ore and bullion from Panama to the United
States during the calendar year 1914 amounted to $35,838, and of
silver ore and bullion to $12,790.
GOLD MINING IN NORTHEASTERN NICARAGUA.
(Consul Cornelius Ferris, jr., Bluefields, Nicaragua, May 11, in Daily Consular and Trade Reports.
June 2, 1915.]
Gold mining has been carried on in northeastern Nicaragua for
18 or 20 years, but not in a manner to develop the mines. Pay ore
that was in sight has been taken away without opening up ore bodies
for future production. The ore is of low grade, and can be handled
with profit only when operations are conducted on a large scale.
The ore that could be thus handled without installing expensive
machinery is now exhausted. The method of extraction has been by
open-cut, or “glory-hole” work. A small amount of tunneling has
been done, the greatest depth reached being 300 feet. All under¬
ground work has been done by hand. The most important mining
region in northeastern Nicaragua is the Pis Pis district, where 8
or 10 claims have been worked and where at times 600 to 800 men
have been employed. Since 1910 the declared exports of gold bul¬
lion from Bluefields have aggregated more than $2,500,000, the
amount each year diminishing as operations became more expensive.
Geology of Pis Pis district. — The ore in the Pis Pis district is a
low-grade, free-milling gold quartz, in veins varying from 15 to 20
feet in width. In exceptional cases the veins are 40 to 60 feet wide.
The ore runs from $3 to $5 per ton, but in the wider veins a fair
average is $6.50 per ton. Forty per cent of the value can be obtained
by amalgamation; by the cyanide process 85 to 95 per cent can be
saved.
In 1912 a geologist connected with a mining company visited the
Pis Pis district and made an examination, from the report of which
in the Bluefields American of June 23, 1912, the following salient
points are taken:
The Pis Pis raining district comprises an area about 11 miles long in a northeast
direction and about 1J miles wide. The greater portion of the district is occupied
by a thick series of andesite lavas and fragmental rocks, to much of which the term
augite-andesite may be applied. Scattered through this are dikes and irregular
masses of hard andesite, to which also the term augite-andesite is applicable. The
northeastern portion of the district is characterized by a mass of intrusive rhyolite
about 4 miles long and 1 mile in maximum width.
The Pis Pis district is traversed by a remarkable system of large gold-quartz veins.
They were deposited in actual open fissures, which were probably reopened from
time to time, producing a fairly definite ribbon structure. The gangue is generally
a fine-grained quartz, in part hard and barren and in part impregnated by sulphides.
Crustification is common, and there are many crystallized geodes.
The sulphides almost invariably present below the zone of oxidation are pyrite,
galena, splialterite, and chalcopyrite, in greatly varying proportions.
The rock bordering the large veins abounds in seams of quartz extending 30 to 100
feet from the vein proper. They consist of the same kind of quartz and sulphides
as the larger veins, and doubtless carry gold, but it does not appear that they have
made any important ore bodies.
The large veins are in the form of a succession of lenses, which may be 50 to 100
feet long and 10 to 85 feet m maximum width, connected by short stringers of quartz
6 inches to 3 feet thick. Throughout the district the wider portions of the veins are
richer in gold than the narrower portions, but the smaller veins, called liilos (threads),
PRODUCTION OF THE PRECIOUS METALS. 261
2 to 5 feet thick, which are often spurs from the large veins, are generally of higher-
grade ore than the large veins.
Although the veins are in strong fissures, there is not much evidence that they are
due to faulting. Strong gouges are not often present along the walls, and the gouges
present are as likely to be within the veins as on the walls.
Near the surface the sulphides are generally thoroughly oxidized to limonite, with
irregularly distributed pyromorpliy te, cerusite, and malachite in small amounts.
The gold associated with the sulphides chiefly (hard white quartz is practically
barren) is thus freed and may be seen in the pan as very fine grains. As a rule the
most porous rock is the richest.
The mines pass rather rapidly from the oxidized to the unoxidized zone, there
being no strongly marked zone of mixed sulphides and secondary oxidized minerals.
Nowhere in the district does the zone of oxidation extend very deep, rarely to 200
feet; probably 100 feet would be near the average. The humidity of the climate
and the protection afforded by the stiff clay covering are the reasons for this shallow
depth of oxidation. Hence, any propositions must take the sulphide ore into imme¬
diate consideration, and milling plants should be planned on this basis.
Other mining developments and prospects. — Outside of the Pis Pis
district there are some gold-producing mines, but in northeastern
Nicaragua they are not grouped in well-defined districts. The Pis
Pis district is about 72 miles from the seacoast, and the Wawa dis¬
trict about 26 miles from the coast in the same latitude. In this
district the ore is of the same character as that of the Pis Pis district,
but the region is flat and mining is carried on through shafts. The
country rock is rhyolite instead of andesite. Production and
development are about to be prosecuted by Americans on an extended
scale in the Linda Ventura mine in the Wawa district. The vein of
this mine is 16 feet in width and runs from $7 to $8 ner ton in gold
and $0.50 in silver. The development consists of three shafts 50,
78, and 105 feet deep, respectively; 700 to 800 feet of drifting, and
about 500 feet of open cuts. The owners are about to install a
modern cyanide plant capable of treating 1,500 tons of ore per month
and of saving 90 per cent of the values. A hoisting plant is to be
installed capable of hoisting 150 tons per day from a depth of 500
feet. There will also be a pumping plant with a capacity of 100
gallons per minute. The Wawa district being without watci power,
steam will be used ; there is wood for fuel.
Besides the Linda Ventura mine, further developments are soon to
be undertaken, but on a smaller scale, in other mining proper ics in
^Severaf other' mining properties might be included in a description
of the mining industries of northeastern Nicaragua notably the
Topaz Ze agnd La Luz and Los Angeles mines, winch have been
producing steadily and with profit for many
Titles to mining property-water power.—. A min mg clai lm mb. .a
h“°(2nt47t0acr^)erandUa monthly lkense of $2.10 for the entire
CWWater power.- The laws of Nicaragua provide for the denouncing
of water power by individuab. The^ county k aQ(1 ^hcr(>
tions relating to .^‘S'toouble fn conflicting claims; but the intent
‘Sf rtPT»w and the poflcy of the Government are that water power,
of the law and the p y h in northeastern Nicaragua,
^UbeVteo d A mining and other industries.
262
REPORT OF THE DIRECTOR OF THE MINT.
Present equipment— Development by Canadian and American com¬
panies. In the Pis Pis mining district there are at present three
Huntington mills, three 10-stamp nulls, one 20-stamp mill, and one
30-stamp mill, giving a milling capacity of 400 to 500 tons of ore per
day. The future development of the mines will call for machinerv
for cyanide plants, transmission lines, air drills, stamp mills anil
nnmng-camp supplies in general. There is no wood for fuel, except
m the Wawa district, nor is there any coal. All milling is done by
electricity generated by water power. In all the districts except
Wawadbtr“tbyshrafts0pened and deTe'°Ped ** ‘^ling; in tie
An engineering party representing a Canadian company has iust
made an examination of certain mines that they contemplate pur¬
chasing m the Pis Pis district. They are favorably impressed with
the possibilities of the district, and will begin operations on a laro-e
scale necessary to handle low-grade ores with profit, provided they
are asured that the export tax on gold will not be increased. [The
export tax is now approximately 53 cents an ounce.] They expect
to erect and equip a plant representing an investment of $2,000,000
m addition to the purchase price of SI, 000, 000 for the mines now
under consideration. An American company has recently acquired
mining properties in the Pis Pis district, which insures further
development on a large scale. The development of transportation
tac lLi ties will be of prime importance to successful mining in the Pis
Pis district. I lie plant installation of the Canadian company will
include a railroad from the mines to the head of river navigation,
and possibly to the coast. They say it will also be necessary for mem to
establish telegraphic communication from the interior to the coast,
build power plants, railways, steamer fines, etc.
Modes of transportation. — The Pis Pis mining district may be
reached from either Bluefields or Cape Gracias a Dios. The dis¬
tance either way is about 210 miles, and it takes from a week to 10
days to make the trip. I rom Bluefields the route is up the coast
to Prinzapolka (90 miles) by power boat and up the Prinzapolka,
Banbana, and Tunky Rivers by motor boats and pitpans, as the
stage of the rivers may require, to within 2% miles of the nearest
mines. By the Cape Gracias a Dios route, which may be reached
from New Orleans direct, motor boats are taken for a distance of
125 miles up the Wanks River to the mouth of the Waspook- thence
pitpans go up the Waspook for 60 or 75 miles to within 1 mile of the
nearest mines. Pitpans are canoes hollowed out of mahogany or
cedar logs. The largest are about 60 feet in length and°have a
carrying capacity of 20,000 to 25,000 pounds. They are paddled
by Indians. The very short stage by land either way is a matter of
serious consideration, especially for freight. The short overland
haul is made by packing goods on mules or bullocks, or transporting
them on drags. A drag consists of two long poles which are hitched
to the sides of a bullock, like buggy shafts, and trailed on the ground
with a crosspiece to keep them from spreading apart. Mortars for
stamp mills, weighing 6,000 pounds each, have been taken into the
Pis Pis district in this manner.
For freight there is practically no choice between the Prinzapolka
and Cape Gracias a Dios route. Goods taken by way of Prinzapolka
are entered at the Bluefields customhouse, where they are trails-
PRODUCTION OP THE PRECIOUS METALS.
263
shipped for Prinzapolka. Goods entered at Cape Gracias a Dios
are transferred at once to the river boats, making one less trans-
shipment. Perhaps the choice should be determined by the point
^ a r mining district to which the goods are destined.
A fair average of freight charges from New York or New Orleans
to the ris Pis mining district is $0.06 per pound.
SOUTH AMERICA.
Production.
brazil.
The United States ambassador at Rio de Janeiro reports the pro¬
duction of gold and silver in Brazil during the calendar year 1914 as
follows :
Product of 1914.
Gold.
Silver.
Grams
(fine).
Value.
Grams
(fine).
Value.
Domestic production:
From deep mines .
From placer mines .
14,050,824
3 9,001
Reis .
7, 211,910,000
15, 535,000
*2, *385, 214
Reis.
120,591,000
1 From Rio de Janeiro. There are only two large deep mines in Brazil, and these being nearer Rio do
Janeiro than any other port their production is shipped therefrom.
2 The product of silver continues to be practically nil, the small amount produced being that which is
found mixed with the gold in the mines.
8 From Maranhao.
The gold product of 4,050,824 grams is equivalent to 130,234
ounces, fine, of the value of $2,692,171.20, and the gold product of
9,061 grams is equivalent to 291.31 ounces, fine, of the value of
$6,021.90. The silver product of 2,385,214 grams is equivalent to
76,684.63 ounces, fine, whose value is given at 126,591,000 reis, which
is equal to $69,169.
No statistics are published (or collected) as to the amount of gold
and silver produced by Brazilian mines. An approximate figure can,
however, be arrived at from the export figures, discounting therefrom
a considerable amount (almost exclusively the product of “placer”
mines), which is used in the country in the manufacture of jewelry
and upon which no figures are available.
COLOMBIA, 1914.
Product of 1914.
Gold.
Silver. •
Kilograms.
Value.
Kilograms.
Value.
Dnmoof ie nrnflnct.ion _ .................
14, 248,377
$4,678,580.98
7,300. 712
?194, 275. 29
f pi\/UUVVAV*A« • . .
264
REPORT OF THE DIRECTOR OF THE MINT,
BRITISH GUIANA.
The United States consul reports as follows regarding the pro¬
duction of gold during the calendar year 1914:
1914
Kilograms
(line).
Ounces
(fine).
Value.
Domestic production:
From placer mines .
1, 427. 403
267. 547
45,893. 137
8,602. 018
§948,695.37
177, 819. 50
From dredging .
Total .
1, G94. 950
54,495. 155
1,126,514.87
The yield of gold from the several methods of working in existence
m the colony (British Guiana) is shown in the following table, which
also gives the increase and decrease in 1913 — 14 as compared with
Methods.
1912-13
1913-14
Increase.
Decrease.
Placer washing .
Ounces.
38,472
12,033
823
437
Ounces.
i 72,341
10, 122
242
Ounces.
33,869
Ounces.
1,911
581
437
Dredging .
Ffydrau licking .
Quartz milling .
emoiirntn uuwMJitu * ivunncnana .ueYeiopmen t Co. (Ltd.) from crushing auartz with
small mill. Royalty was paid on this gold at usual rate of 70 cents per ounce.
thei?hni"7iai^n Tha ^ml5er ,mi11 ,was °Pera1ted by the Minnehaha Development Co. (Ltd.) on
men- mil claims m the Mnmehaha Creek and produced 511 ounces of bullion. ^ v '
Comparative statement showing weight and value of gold obtained in British Guiana for a
senes of years .
[From report of the lands and mines department , 1913-14.]
Years.
Gold.
Years.
Gold.
Weight.
Value.
Weight.
Value.
1884 .
Ounces.
250
939
6,518
10,986
20, 216
32,332
66,864
110, 555
134,124
138,527
132,994
121,285
127,479
121,490
113,114
112, 789
*4,375.00
16,432.50
114,066. 32
192. 267. 25
353,781.17
565,824. 19
1, 170, 124. 27
1,934,723. 19
2.347.176.97
2, 424, 237. 01
2,327,408.86
2,122,492. 13
2, 230,889.65
2,126,088.86
1,979, 497.85
1.973.816.98
1900- 1901 .
1901- 2 .
Ounces.
1885 .
1886
114, 102
101,332
104, 526
90, 336
$1,996,786. 36
1,773,313. 43
1,829, 214.26
1,580, 881.68
1,677, 623.83
1887 .
18K8-8Q
1902- 3 .
1903- 4 .
1904-5 .
95, 864
lOOv m . . .
1890-91
1905-6 ....
94,363
1,651,358.81
1891-92
1906-7 .
85,504
1, 496, 333. 78
1892-91
1907-8 .
67, 209
1* 176* 166 40
1893-94
1908-9 _
73,654
X| X 0 \/j JL V/Ut AV
1 288 955 72
1894-95
1909-10 _
64, 829
1 134 524 82
1895-96
1910-11 .
54, 988
JL y 1 U i y
962 303 78
1896- 97 .
1897- 98
1911- 12 .
1912- 13. ..
50, 273
51,765
82, 706
879, 790. 51
880,011.80
1,367,626. 41
J 017 f VO • • mmmrnmmmmmmmmmmm
1898- 99 .
1899- 1900
1913-14 .
Grand total...
2,381,913
41,578,093.79
PRODUCTION OF THE PRECIOUS METALS.
265
DUTCH GUIANA.
[Reported by the American consul at Georgetown, British Guiana.]
Gold produced during the calendar year 1914:
Gold.
Kilograms.
Value.
Domestic production, from placer mining _
918.5945
$503,389.60
There was no silver produced.
Assuming the value to be correct, the production by calculation
would appear to be 757 kilograms fine, equal to 24,351.471 fine
ounces.
DENMARK.
There are no mines in Denmark nor in the colonies.
GERMANY.
The secretary of the United States embassy at Berlin reports to
us that the collecting of statistics of the production of gold and
silver from mines in Germany for 1913 and 1914 are not yet completed
and no reports regarding the product of gold and silver from mines
in German colonies have been recently made. , ,i j
The American ambassador at Berlin reports that the gold and
silver production of Germany for 1911 was 117 54 kilograms of
fine ffoFd and 155 044.39 kilograms of fine silver, fiom native ores,
line gold ana io , equivalent to 3,778.911 fine ounces, repre-
informaSe figures for domWic p^oduetkn for 1911 are repeated
product of gold and silver in the years 1911
and 1912 was Is follows:
Fine gold extracted.
Weight.
Value.
Fine silver extracted.
Weight.
Value.
Kilograms.
4,967.090
7,730.470
Marks.
13,874,000
21,574,000
3911 .
Kilograms.
439,579.99
595,469. 40
Marks.
32,133,000
48,886,000
1912 .
The figure^o material anj foreign by-products were taken account
tamed i former years only the output of inland and foreign metal
°*’ ^ crap was counted.
allTl e separation of the different sources from which the gold and
1 er is obtained is no more a feature of the statistical reports upon
^The amounts of gold and silver obtained by smelting in the German
colonies arc still small. As an example, the output in gold from the
266
REPORT OP THE DIRECTOR OP THE MINT.
Kironda Gold
as follows:
Mining Co., of Sekeeke (German East Africa), is giTCn
Period.
Quartz.
Fine gold separated.
In mills.
By chemi¬
cal
processes.
Total.
April to September, 1911
Tons .
3,943
3,189
2,917
Kilograms.
137
106
50
Kilogram.
40
33
Kilogram.
177
139
October, 1911, to March, 1912 .
April to September iqi 9 .
A WiXlUvl ^ JL %s X & m rn
15 | 65
GREAT BRITAIN.
Production.
The United States consul general reports the production of gold
and silver m the United Kingdom in 1913 as follows:
cftoJSt 9old’~[ 2|-87 kilograms, valued at £3,670 (equivalent to
v ounces> .fino> of the value of $17,860.05): 3.82 kilograms of
no above quantity were obtained by ordinary (not deep) mining and
irom quartz-bearing veins, and 23.05 kilograms were obtained by
deep minmg from auriferous copper ores.
Fine silver. — 4,293.83 kilograms (0.925 fine), valued at £15,954
(equivalent to 128,543.27 ounces of the value of $77,640.14). Of
Qfw f Pove quantity, 3,986 kilograms were obtained from lead ores,
3U7 kilograms from copper ores, and 0.83 kilograms from gold ores.
the value of fine silver was calculated at the rate of 27 A PenCj
(27.5625 a.) per ounce, which was the average price of standaid
silver in the London market for the year 1913.
. The gold production of Great Britain, as taken from the Engk1^1’-
mg and Mining Journal, New York, July 3, 1915, was: Gold ot6~~
1913, 4 long tons; 1914, 47 long tons.
ITALY.
The United States ambassador reports that in the year 1914 no
gold was produced from the mines, but there were recovered from
260 tons of auriferous pyrites 186 grams of gold and 100 grams of
silver per ton, valued at 111,860 fire ($21,589).
In smelting works they treated native ores containing 15,254
kilograms of fine silver, valued at 1,467,520 lire ($283,231).
About 13,000 tons of argentiferous lead was produced during 1914,
containing 325 grams of silver per ton.
No gold or silver was produced in Italian colonies dining 1914.
Production of silver in 1914.
[From Supplement to Commerce Reports, August, 1915.]
Year.
Kilograms.
Value.
4,754
*SS,GS7
267
PRODUCTION OF THE PRECIOUS METALS.
[Translation from L’kconomiste Europ6en, Paris, Aug. 20, 1915.]
THE PRODUCTION OF GOLD IN RUSSIA.
The following table shows the production of 1914, as compared
with that of the three preceding years, for the different producing
districts:
Year.
East Siberia.
West Siberia.
Ural.
Total.
Kilograms.
Value.
Kilograms.
Value.
Kilograms.
Value.
Kilograms.
Value.
1911 .
1912 .
1913 .
1914 .
Total...
34,971.300
31,023.720
33, 136. 740
37,067.940
S23,241,926
20,618,364
22,022,677
24,635,353
3,095.820
3,292.380
3,357.900
3,341.520
82, 057, 482
2,188,116
2,231,660
2,220,774
2, 178.540
3,112.200
3,390.660
2,604.420
81,447,858
2,068,368
2,253,433
1,730,898
40,245.660
37,428. 300
39,885. 300
43,013.880
$26,747,266
24,874,848
26,507,770
28,587,025
136,199.700
90,518,320
13,087.620
8,698,032
11,285.820
7,500,557
160,573. 140
106,716,909
It is remarkable that the production of gold in eastern Siberia had
an increase for the two last years of
The production in 1914 surpassed that of 1913 by 240 poods (3,931 .200
Vilnirsms'i which is 11 9 per cent. On the contrary, the production
of tie Urais had a^lecrease of 48 poods (786.240 kilograms) or 23.2
^The gold resulting m pood
supposed that it was ^ure o-old Consequently, the total pro-
kilograms) of1 jC^Russia m 191§4 was 3,178 poods (52,053.640 kilo-
duction against (49,254.660 kilograms) in 1913.
Product of gold from Russian mines.
Year-
FmeS“’d
1911- -
1912 .
Weight.
Value.
Poods. 1 Pounds. Zolotniks. Doli.
Rubles.
United States
currency.
3,176 M 71 69
2,917 27 76
67,202,510.80
61,729,745.72
$34,609,293
31,790,819
.
.
____ pounds; 1 pound=96 zolotniks; 1 zolotnik=96 doli.
+ir»r» no to nroduction of gold hi Russia is not ai ail-
n?ull informatio 1 above is the best obtainable.)
ah mine . - As officially reported from
GoWjffiguJs Embassy, Petrograd, Russia. _
tbc _ — - ’ iTpoodisequal to 16.380 kilograms.
2^g report of the director of the mint.
In 1913 Government refineries, smelting establishments in the
Altai, and individuals remitted to the Russian mint gold and silver
as follows:
Value.
Classification.
Ounces.
Rubles.
United States
currency.
1,065,844. 70
144,088.70
42,818,510.17
249,032.89
$22, 051,533
128,252
In 1913 private refineries treated 970 poods 9pounds 18 zolotmks,
equivalent to 560,792.80 ounces of fine gold valued at 20, 527 ,075.4 1
rubles ($10,571,444). For the amount of fine silver treated by the
said refineries the last information we are m possession ol is ol the
vear 1910, which is given as 540 poods 29 pounds. ,
Attention is called to the fact that in Russia the production ol
gold and silver is entirely free. It is not obligatorily remitted to
the mine, but is sent to any desired destination. The gold renutted
to the mint is almost totally appropriated to the bank ol the btatc
for necessities of the monetary circulation. The gold remitted to
private reduction works (or refineries) is partly sent to loreign
countries, and principally goes into the reserves of banks ol issue;
the other part remaining in the country is appropriated to industrial
works.
No special department of statistics exists, and the data are scarce,
dependent upon the vast territory and different places from whence
statistics come. There are no special statistical employees.
FINLAND.
The United States agent at Helsingfors reports the following:
regarding the amount of gold produced from mmes in Finland
during the calendar eyar 1912 (there were no mines m operation
during 1911 and 1913):
Derivation.
Weight.
Value.
..lnrtnK tv, 1 m'n ct ( tiro oV» rrnlrl TlrttVlITlP frOTTl Solid rOCk . . .
Grams.
1,477
Finnish
marks.
4, 666
($900. 54)
F rom placer mining ^waoii guiu;, uutumg huui * wn. . ....................
SERVIA.
As reported by the American vice consul in charge at Nish:
Product, 1914.
Gold.
Silver.
Kilograms
(fine).
Value.
Kilograms
(fine).
Value.
Domestic production:
From placer mining
40. 124
100. 600
Francs.
137,947
($26,624)
403,040
($89,367)
Francs.
From copper ores .
379,826
34,425
($0, 644)
PRODUCTION OF THE PRECIOUS METALS.
269
ASIA.
Production.
BRITISH INDIA
The United States consul general reports the product of gold and
silver in British India during the calendar year 1914, as follows:
Gold.
Silver.
Product for 1914.
Kilograms.
Value.
Kilograms.
Value.
Domestic production, from placer mining .
18,892.32
Rupees.
35,075,329
|($11,378, 437)
7,354. 46
Rupees.
403,440
($130,875)
Hold eaual to 17,120 line Kilograms ui - - — -
contend, 354 fine kilograms or 236,440 fine ounces.
JAPAN.
Source.
Weight.
Value.
Weight.
Value.
.
Kilograms.
5,436
103
Yen.
7 154,069
’ 97,931
Kilograms.
146,279
Yen .
5,635,124
Prom placer mines .
5,539
($3,611,496)
146,279
5,635,124
($2,806,292)
Total .
. .
4,608
5,039,646
’ 725
5,793,786
’446,280
948, 032
524
.
18,237
. . . .
.
5,044,979
77l^T098
($3,579,673)
524
18, 237
($9,082)
Total .
.
Formosa: mines . . .
From deep . .
Placer’ mines - • . .
1,127
22,779,634
1,502,224
’ 79,000
53,202
1,614
62,731
5o
. 22,780,817
1,634,426
($813,944)
1,614
62, 731
($31,240)
Gold.
Silver.
Total _ _
- ' EGYPT.
. ,1 consul general at Cairo reports the
.he -
,1 silver p _ _ _ _ 7- Silver.
>omestlC p _ _ — — - -
197.263
1 6,342
£ >. d.
25,938 11 4
($126,237)
41.097
1 1,321
Value
(sterling).
£. «• d
138 14 7
($681. 31)
270
REPORT OF THE DIRECTOR OF THE MINT,
Gold and silver production of Egypt , 1910-1914, inclusive.
[From “Notes on the Mineral Resources of Egypt, 1914.”]
Calendar years.
Gold.
Value.
Silver.
Kilograms
(fine).
Ounces
(fine).
Kilograms
(fine).
Ounces
(fine).
Value.
1910 .
138
158
154
143
191
4,452
5,068
4,958
4,602
6, 136
i 892,027
1 104, 761
1 102,487
i 95, 131
i 126,842
1911 .
1912 .
1913 .
1914 .
38
1,223
1676
i United States valuation.
MADAGASCAR.
The American consul at Tamatave, Madagascar, reports the pro¬
duction of gold from mines of that colony during the calendar year
1914, as follows:
Source.
Gold.
Kilograms.
Value.
Domestic production:
From deep mines .
647.253
1,135.285
$374,759.49
701, 152. 19
From placer mining .
Total .
1,782.538
1,075,911.68
No silver reported.
UNION OF SOUTH AFRICA.
The United States consul reports the product of gold and silver in
the Union of South Africa during the calendar year 1914 as follows:
Product of 1914.
Gold.
Silver.1
Kilograms
(fine).
Ounces
(fine).
Value.
Kilograms
(fine).
Ounces
(fine).
Value.
Transvaal:
From deep mines .
From placer mining. . .
Total .
Capo Colony: From placer
mining .
Natal: From deep mines..
Total Union:
From deep mines .
From placer mining. . .
261,028.002
64.977
8,392,232.994
2,089.040
$173,480,690
43, 195
27,099.626
890,562.352
$498,558
261,092.979
8,394,322.034
173,523,885
27,099. 626
890,562.352
498,558
1.235
53.079
39. 720
1,706.516
813
35,277
6.826
219.470
ii7
261,081.081
66.212
8,393,939.510
2,128.760
173,515,967
44,008
27,706.452
890,781.822
498,675
Grand Total .
261,147.293
8,396,068.270
173, 559, 974
27,706.452
890,781.822
498,675
‘ Contained 111 gold bullion. ( Kilogram=32.1507 ounces.)
PRODUCTION OF THE PRECIOUS METALS,
271
The Transvaal gold output, 1914.
[From the Mining Journal, London, June 12, 1915.]
January
February
March
April
May
June
July
August
September
October
November
December
Analysis of gold output of Southern Rhodesia for the year 1914.
. 3 r>i xcinoc for the year 19
Volume.
Source.
Ounces.
Pounds
sterling.
United States
currency.
From milling------ . .
From concentrates . .
From sands . .
From slimes. - . .
From other sources .
Total . .
616,385.63
12,896.40
131,203.88
91,081.51
2,912.40
2,583,608
54,276
548,7%
381,330
12, 199
$12,573, 128
264,134
2,670, 716
1,855,742
59,366
854,479.82
3,580,209
17,423,086
— — " T^ZZldZigoU duet and auriferous by-product . exported from the
Quantity and value of 9^^ Co(Jst ^lony during the year 1914.
Kame of company.
iffo°ldF ^ration '& Dredging Co.
■^?LtdA- -,W Mines’* Estates (Ltd.). - - -
syndicate (Ltd.)-.--
%$£&$& ififaf ^-'(Ltd)- - -
P^lBlSS^&E^iomtii)n Co- (Ltd.
. .
A^»«* ixBer Gold Estates (Ltd.) .
QffiU ***'
Total Ashanti .
Grand total.
Gold and gold dust.
Quantity.
Ounces.
61,656.90
51,481.85
30.00
332.00
1,311.50
139.88
33,934.60
2,100.70
111,772.50
47,339- 46
Value.
£. *• &■
248,481 5 6
209,335 17 4
118 15 0
310,099.39
1,322
5,248
526
127,311
8,337
408,643
188,251
1,197,576 8 9
’($5,828,003.60)
Auriferous by-products.
Quantity.
Pounds.
3,622
8,396
Value.
£. s. d.
125 10 0
308 6 8
8,443
16,058
36,519
110,083. 45
347.34
8, 320. 37
427,061 17 4
31,210
870 9 2
1,391 2 O
33,285 8 0
118,751.16
461,738 7 4
($2,247,047.98)
31,210
870 9 2
($4,233.86)
428,850.55
1,659,314 16 1
’($8,075,051.58)
67,729
28,210 2 5
($137,283.97)
26,006 16 8
898 19 11
27,339 13 3
($133,045.24)
272
REPORT OF THE DIRECTOR OF THE MINT.
WEST AFRICAN GOLD MINES.
[From the Mining Journal, London, May 1, 1915.)
In point of productiveness the gold fields of West Africa continue
to show excellent progress, the value of the total output for 1914
amounting to £1,727,044 ($8, 404, 660), which compares with
£1,634,700 ($7,953,268) for 1913, £1,497,179 ($7,286,022) for 1912
and £1,069,442 ($5,204,440) for 1911. Since 1880 the colony has
contributed upward of £13,750,000 ($66,914,375) to the world’s
gold supply, and it is significant that of this amount about £6,000,000
($29,199,000), or 44 per cent, has been the result of the last four
years’ operations. The following table shows the monthlv returns
for 1914: J
Month.
Fine
ounces.
Estimated value.
Pounds
sterling.
United
States cur¬
rency.
January .
30,995
29,929
31, 795
32,063
35,219
35,851
37, 156
36,611
37,525
38,879
37,610
35,877
128,862
123, 169
131,392
131,697
145,227
147,289
152,923
150,386
154,316
159,410
154,674
147,699
$627, 107
599,402
639, 419
640,903
706,747
716,782
744,200
731,853
750,979
775, 769
752,721
718,777
February .
March .
April .
June .
August .
September .
October .
November .
December .
Total .
419,510
1,727,044
8,404,659
MINING IN THE GOLD COAST.
[From the Mining Journal, London, Dec. 5, 1914.]
The Government returns for West Africa last year were 388,126
fine ounces, of which 9,307 fine ounces were from dredging and the
rest from lode mining. The company’s returns, as published cur¬
rently in our columns, gave the output as 397,679 fine ounces. The
total for last year was 35,169 ounces, better than in 1912, and con¬
stituted a record for the colony, which, however, will be surpassed by
the figures for this year, which should approximate to 405,000 ounces.
Among individual producers, Rhodesia, the Gold Coast, and
Ontario are the only British fields from which an increase is to be
expected this year, and, with the possible exception of Russia,
probably the only fields in the world to show an increase. A feature
of the Gold Coast mines is that they are, as things go to-dav, com¬
paratively high grade. On the 713,638 tons treated last year an ex¬
traction of 10.62 pennyweights was obtained. The conglomerates
of the Taquah field furnished about one-third of the total, with an
average grade of 10.21 pennyweights, and quartz reefs about two-
thirds, with an average extraction of 10.86 pennyweights. These
figures were all higher than those of the preceding year. Turning to
individual companies producing over 1,000 ounces, the results are
most conveniently shown in tabular form as follows:
PRODUCTION OF THE PRECIOUS METALS.
273
Principal producers.
1912
1913
Ashanti Goldfields. .
Prestea Block A .
Ounces.
114,456
69,945
18,543
39, 729
Ounces .
105,838
91,244
55,688
40, 128
39,980
Ol A OO
Abbontiakoon ... .
Taquah Mining . .
Abni<w> . . . . * . . . .
a k UV/ lOOVJ
Broomassie . .
44,293
on QQO
Bibiani . .
3U, y32
1 O CQ1
31, 423
n ooc
Offin River Dredging Co.1 .
ly, 031
K 1G4
9, 23o
£ A 70
W est African Trust . . .
o, ly^
1 i zz
0, 0/3
Q 1 CO
Ancobra Dredging Co.1 .
i, iOO
o 77Q
3, loy
o OA O
Cinnamon Bippo .
3, / /y
3, U02
1 0^7
1 , uo /
Total .
047 ^7
OCA eric
UTt 1 , UU I
ooO, OIo
1 Alluvial.
Gold and silver production of Rhodesia during 1914.
[From Report of Rhodesia Chamber of Mines, Bulawayo, February, 1915.]
Month.
January...
February.
March _
April. . . .
May.
June .
July. .
August .
September .
October....
November.
December. .
Total . . . . : -
The value of the yield of gold from ^uthem Rhodesia for the ^ear
4 an increase of 164,526 ounces m weight and £646,941 ($3,148,338)
in value as compared with the year 1913.
JOHANNESBURG.
tBy Consul Edwin N. Gunsaulus, in supplement to m4
Taking the Union of South Africa “ ^ast seven 0r eight
has been imports and exports winch have
vears of successive increase along commercial and mdus-
Sked the country’s steff/ Sef which possesses the country’s
Sal fines, and this consular dist rict, wmc induStry (in
biggest “^de^egSfator of the entire country) , has felt the influence
msmmsM
aIld snte'for the great trade ^j^jfbo^dificulties experienced in
measuie, . strikes and otner *vnrmr»nneedlv adverse effect
year, whil ^ beginning of 1914 had first Months of 1914
1913 and a industrial conditions dur » __.g an acc0mpamment
^^jiista^^^sassxssi
If Sft BfSiS.' Si W W •
Gold.
Fine ounces
59,212.17
61,747. 79
64,932. 86
70,336. 59
68,982. 72
72, 6*5. 82
76,687. 48
75,998. 95
74, 141. 66
81,165. 02
74,739.94
73,888. 82
854,479. 82
Silver.
Fine ounces.
10,657. 82
10,676. 13
11,323. 85
11,404.22
10.592. 10
10,961.72
11,248. 38
11,785. 65
14, 756. 61
19.131.10
15,022. 62
13,232.59
150, 792. 79
274
REPORT OF THE DIRECTOR OF THE MINT.
effect upon and put a stop to a large amount of development work
intended to be put through, by the withdrawal and withholding of
money for capitalistic enterprises until the return of normal conditions.
Just as the country was beginning to recover from this industrial
check, and when the prospects seemed bright for a speedy resumption
oi industrial and commercial activity, the war broke out, causing an
indefinite postponement of mining schemes and development projects
previously planned, as well as retardment and curtailment of much
Government and municipal construction work.
The labor and industrial troubles and the subsequent war out-
bieak seriously affected the building trade in Johannesburg and other
cifies of the district, which had previously shown unusual activity
keieby causing the withholding from circulation of large sums of
money and resulting in a marked decrease of purchase of building
material and furnishing, practically all of which are imported.
(jold- mining not affected.— Notwithstanding the labor troubles
experienced at the commencement of the year and the unsettled
conditions arising from the European crisis, it is a significant fact that
tne big gold industry of the Rand, as well as that in Rhodesia, has
been practically unaffected in its operations and output, a situation that
lias exerted a powerful influence in maintaining a trade equilibrium
a ong f airly normal lines in the midst of other industrial and commercial
upheavals The Government receives 10 per cent of the gross profits
of the gold mines, a portion which amounts to $5, 000, 000 per annum.
I he prompt and effective measures secured by the chamber of
names through the cooperation of the imperial and local governments,
aided by the local and English banks, for the guarding of the <mld-
minmg interests, especially as regards financing, were fully set Forth
in a previous report published as a supplement to Commerce Reports
January 18, 1915 and need only to be briefly referred to in this report.
Arrangements for disposing of gold supply.— At the outbreak of the
war the usual weekly shipments of raw gold from the mines of the
Transvaal to London were stopped. The important question of the
disposition of the gold and of obtaining its equivalent, in monev for
the industry immediately arose. This was happily met by an arrange¬
ment under which the gold was dehvered to the larger of the local
banks, where it was assayed, and schedules of the bars, with certifi¬
cates of assay, were sent to the Union Government, which assumed
responsibility as to the value, the amount of which was cabled to the
Wh commissioner of the union m London. Under his guaranty the
Bank of England advanced to the London offices of the South African
banks 97 per cent of the value of the gold, which was held bv the
ktter in the name of the Union Government to the order of the Bank
of England. By this method, although the gold remained stored in
Johannesburg banks, the financing of the mines was kept up to
normal, both as concerns working costs and dividends, thus enabling
them to go ahead as usual. ’ ^
Provision for shipments of mining supplies— Year’s gold output —
Another matter of importance to the gold mines was that Sin^
to supplies, especially regarding the three essentials-cyaidde men
cury. and A committee of the chamber of mines* deSCted
as the central buying committee, was appointed and succSd in
conjunction with a London committee, in Storing into larg^contracS
for the supply of these articles, sufficient quantity beffif iZSSdto
suPPly the industry during the years 1914-15, and longen ff nectary
PBODUCTION OP THE PRECIOUS METALS. 275
ftor thc,year 1914- - «»»-
Af rica ktistT Z Se
of ibl *1 -l ^181,875,456 in 1913. Of the year’s total gold output
all but abmitMftnnn' S<\Utl1 AfnC,a’ amountin£ to $173,559,975,
all but about $36,000 in value was the product of the Transvaal.
mlo ° Vj in6! exported from South Africa during the years
1913 and 1914 was as follows:
Classification.
1913
1914
Gold concentrates or slag .
$190,508
182,928,810
14,050, 563
41 OS Q17
Raw gold:
Produce of the Union .
ClUOj i7l «
99,977,210
10,616,274
Produce of South Rhodesia .
FEDERATED MALAY STATES.
Gold exports, 1913.
Ounces
(troy).
Value at
£3 17s. 6d.
per ounce.
•
13,133
£50,891
Gold exported, ironi me reu.era.ieu iuaiay . .
1,842
($247,6(51.05)
£7,138
Gold reported to have been bougnt oy goiu Duyers m rcnux .
($34,737.08)
Gold production of the Federated Malay States , 1898 to 1914, inclusive
Year.
Ounces
(troy).
1898..
1899..
1900..
1901..
1902..
1903..
1904..
1905..
190(5..
1907..
1908..
1909..
1910..
1911 - -
1912..
1913..
1914..
22,200.00
18,507.00
17,048.00
25,288.91
20,301.23
15,594.96
22,019.75
11,772. 22
12, 190.00
15,353.78
14,886.82
16,243.43
16,767.07
9,228.37
14,421.00
14,925.07
14, 272. (XI
Value at
£3 17s. 6d.
per ounce.
£
86,025
71,714
66,061
97,994
78,667
60,430
85,326
45,616
47,258
59, 495
57,686
62,943
64,972
35,759
55,881
57,833
55,306
8.
0
12
0
11
5
10
10
12
19
18
8
5
7
18
7
15
0
Value in
United
States
money.
$118,6-11
349,011
321,48(5
476,898
382,843
294,092
415,249
222,005
230,000
289,552
280,738
306,317
316,191
174,041
271,950
2S1, 473
269,147
AXJSTR ALA SIA.
ie American con-1 of’
'UoWS ^ tie cXdar year 1914:
Lctoria during m g0ld. _ _
- - - - Value.
Ounces
(fine).
United States
currency.
$8,541,856
product for 1914.
_ _ _ _ U13,218 — » _ _ _
— — ; - - and alluvial
>2 ounces, fine*
276
REPORT OF THE DIRECTOR OF THE MINT.
No silver mines in Victoria, but silver extracted from gold at mint
during 1914 amounted to 13,460 ounces, fine, valued at £1,540
($7 ,494).
NEW ZEALAND.
•
Gold.
Silver.
Product for 1914.
Kilograms.
Value.
Kilograms.
Value.
Domestic production .
7,090.320
£895,367
($4,357,303)
18,636.45
£62,085
($302, 136)
TASMANIA.
Product for 1914.
Gold.
Kilograms
(fine).
Value.
Domestic production 1 . . . .
017 OKn
CCTiiO Af\0
3l/. ZOO
1542, 493
1 Iso statistics are kept as to sources of production.
Silver-lead ore valued at *468,177 was produced in Tasmania,
silver contents not available.
AUSTRALIAN GOLD PRODUCTION.
[From The Economist, London, Mar. 6, 1915.J
n/rTi16 production of the Commonwealth during 1914, writes a
amounted to 2,049,957 ounces, fine, value
,...’,,. ’*,55 /vtr’cln 'fi I'??, > “pamsti 2,205,456 ounces, fine, value
£9,368,175 ($45,590,223.64), for the previous year, the value showing
a decrease of £660,517 ($3,214,405.98). Assuming the New Zealand
output provisionally at 340,000 ounces, fine, the grand total for
^straka and New Zealand for 1914 is 2,389,957 ounces, fine, against
2,549,051 ounces, fine, the value being £10,151,885 ($49,404,148.35),
£1?,8?7’6.73 ($52,692 870.65), a decrease of £675,788 ($3,288,-
/22.30). A steady decrease has been in progress for the past decade.
In western Australia a slight recovery took place in 1913, but this
7wfS l0+Wed byi olonfer declin® 111 1914, when the production in
that State was 1,232,977 ounces, fine, against 1,314,043 ounces, fine.
?hmHfC7h?nn°nm F0^1011 °f £10,827,673 in Australia last year
about .f J SOO,000 has been added to local stocks. During the 'first
half of the year the heavy exports of produce and the extensive
borrowings of various Australian governments in London kent
exchange m a posit, on favoring the retention of gold: whilo since
the war altered tho balance of trade, the war-risk msurance ren¬
dered gold shipments impracticable, though a substitute to a “rtabi
thT'Emirof Eni3d ZlSSTf With &,G»— m trZ Z
The h^/stoM^rnow' ^ "°t- P“d-
financial position. Austiaha mean a very strong
PRODUCTION OF THE PRECIOUS METALS
277
WORLD’S PRODUCTION.
Tr„I,hw ff0ll°i^ing.itabile show?’ by calendar years, the production and
value of gold and silver in the world since 1860:
Production of gold and silver in the world since 1860 .
278
REPORT OF THE DIRECTOR OF THE MINT,
62.8 I 37.2
PRODUCTION OF THE PRECIOUS METALS.
279
World's production of gold and silver .
280
REPORT OF THE DIRECTOR OF THE MINI’.
32,600
PRODUCTION OF THE PRECIOUS METALS. 281
1 No data. Figures for 1913 repeated for 1914. 2 N o data. Figures for 1912 repeated for 1913.
GOLD AND SILVER PRODUCTION AND MOVEMENT IN 1914.
[From tho Commercial and Financial Chronicle, New York, Feb. 27, 1915.]
Much, as the prevailing conditions on tho European Continent
have exerted an adverse influence in many ways, they tended in
only a minor degree to diminish tho volume of new gold made avail¬
able for the world’s use in 1914. The year witnessed a further mod¬
erate contraction in the amount of gold mined, an outcome due in
greatest measure to developments entirely dissociated with the
war situation in Europe. In fact, the falling off is not to be accounted
for in any general way, but is rather the result of several independent
causes. For instance, in Africa the disorganization of the working
force of the Transvaal following the strike in June of 1913 and the
further labor troubles in January 1914 (starting with railway employ¬
ees that time), accounts for a drop in production in the world’s
premier field that gains elsewhere in Africa could not overcome.
The loss in Australia is merely the oft-told story of poorer-grado
ores in the lower levels of the mines, and the diminution in output
in Mexico naturally follows the chaotic conditions there existing as a
result of the continutaion of the warfare of the various factions con¬
tending for the control of the Republic. These various countries and
Russia, France, and Austria show collectively a loss in yield for the
year that satisfactory gains in the United States and Canada and
small additions in several countries of minor importance as producers
fail to counterbalance.
The United States, rather unexpectedly it might be said, exhibits
a fair increase in yield over 1913, according to the early estimate
issued jointly by the Bureau of the Mint and the Geological Survey,
but the result reported is below 1912 or several earlier years. The
gain over 1913 is due in greatest measure to enhanced yields in
California, Colorado, and Alaska, the better outcome in the last
named being ascribable to the greater abundance of water than in the
previous year. Nevada, on the other hand, which only a few years
ago seemed to tin-eaten the supremacy of California and Colorado
as producers, suffered a further drop in yield as a result of poorer-
grado ores mined, and returns an output only a little more than half
that of the Pacific coast State.
The strike in the Transvaal mines, which began toward the close
of June, 1913, the causes for which were referred to quite fully by us
a year ago, it will doubtless be remombered, resulted in a serious
loss in the working force of the mines and a disorganization of labor
generally, with a consequent decided decline in output in the last
half of that year; but some improvement in the situation was dis¬
cernible before the close of December, and hopes were entertained
that a near approach to normal operations might be attained before
1914 had VU7 bir progressed. Early in January, however, the
aspects of affairs changed materially. In fact, on January 13 tho
railway men s general secretary, without oven waiting for a ballot
on the subject or giving the commission time to consider the grievance,
< a led a strike, with the support of the trades council, whose leaders
282
PRODUCTION OF THE PRECIOUS METALS.
283
repudiated the settlement made the previous July (despite important
measures the Government was preparing in the interest of working¬
men), and initiated a universal down- tools policy. Profiting by
previous experience, the Government immediately handled the
situation in such a way that the movement was effectively and
quickly suppressed. In other words, martial law was proclaimed
and the labor leaders were expelled from the country, this being
considered to be for the best interests of all concerned, the union
included. Month by month during the year the labor force increased
in number, but efficiency being lacking, production continued low as
compared with a period of normal conditions like 1912 or the first
half of 1913. Outside the Transvaal a moderate increase in yield
is to be reported for 1914, but for the whole of Africa the output at
9,908,940 fine ounces exhibits a decline of 131,478 fine ounces from
the previous year and 385,714 fine ounces from 1912.
Canada further increased its production of gold in 1914, according
to the preliminary approximation of Mr. McLeish, the added yield
coming largely from British Columbia, which, through development
work there, is quite steadily gaining in prominence among the prov¬
inces of the Dominion as a producer of the precious metals. The
Colar field of India, too, made a slightly greater contribution to the
aggregate new supply in the late year, and such information as is
at nand indicates that Central America, South America, and Japan
did likewise. Russia (including Siberia), France, and Austria, as
already intimated, manifestly contracted their output of gold. In
fact, it is higlily probable that such estimates as have been current
since the year closed, including those incorporated in our compila¬
tion, may, under the conditions existing in those countries, be found
to be somewhat excessive when final returns are received a year or
two hence. Whatever may have been the situation before the 1st
of August, it is evident that since that date the war has been a serious
setback. Somewhat similar conditions in Mexico have hampered
mining operations there with a result about as indicated below, and
in Australasia the history of 1914 is merely a repetition of that of
every year since 1905 — decreasing products in about every Province.
Looking at recent Australasian returns, it is difficult to realize that
at one time that country was the foremost gold producer of the
world and much was expected of its mines. But along in 1906
poorer-grade ore began to be encountered as the lower levels were
reached, and since that time the output has steadily fallen off, until
in 1914 it reached less than 2,500,000 fine ounces, against over
4,333,333.33 nine years earlier.
’ Following is a compilation of the gold product in some of the
principal gold-producing countries of the world for 1914:
Producing country.
Fine
ounces.
Value.
2,393,969
9, 908, 940
4,-190,336
822,376
967,500
870,827
2,277,347
$49, 487,648
204,835, 626
92, 823,328
16,999,992
19,999,966
18,001,561
47,076,862
Total .
21,731,295
449,224,983
284
REPORT OF THE DIRECTOR OF THE MINT.
According to the above compilation the gold production of the
world in 1914 was approximately 21,731,295 line ounces, valued at
$449,224,983, or a decline of 440,391 fine ounces, or $9,103,675,
from the previous year, and a falling off of 834,402 fine ounces, or
$17,248,592, from 1912. The latest total, moreover, is the smallest
since 1908, but between 1904 and 1908 production advanced sharply
as a result of the practical doubling of the output of the African
mines. It is, furthermore, a fact that while in the last decade the
annual yield of gold has risen from 16,739,448 fine ounces to 21,731,295
fine ounces, or a gain of 4,991,847 fine ounces, the advance in Africa
has been from 4,163,541 fine ounces to 9,908,940 fine ounces, or an
increase of 5,745,399 fine ounces. It is patent, therefore, that the
world outside of Africa contributed to the aggregate new supply of
gold some 750,000 fine ounces less in 1914 than 10 years earlier.
We have for a number of years past made the tracing of the annual
production of gold to its place of ultimate lodgement a feature of
this review, and have within certain limits met with very gratifying
results. This year, however, the conditions in Europe are such, on
account of the war, that investigations meet with considerable
difficulty. In the first place, it is to be noted that the principal
European banks within the year increased their gold noldings
largely— Germany to the extent of $225,000,000, England$l 70,000,000,
France $145,000,000, Russia $50,000,000, and the remaining institu¬
tions, collectively, as far as we can learn, about $100,000,000, or
$690,000,000 for all. Here alone we have a gain of some $241,000,000
greater than the total production of gold for the year. As regards
the Bank of England the gain of $170,000,000 is quite fully explained
by the direct net imports of the metal into Great Britain ($100,-
000,000) and the amount exported from the United States to Canada
($71,000,000) for the account of the bank and included in its weekly
statements. The increase in the holdings of the Bank of France, too,
can be accounted for by the considerable amount of gold ($85,000,000)
sent thence from here and the $60,000,000 received from Great
Britain. But the addition of $225,000,000 to the stock held by the
Bank of Germany between January 1, 1913, and January 1, 1914, finds
no such means of explanation. It clearly in large part represents gold
that had previously been hid away, including that in the “war
chest.” As against the enormous gain in gold by the European
banks, it is to De stated that the United States visible stock as com¬
piled by Treasury Department decreased $107,000,000 during the
year. Disregarding the $225,000,000 gain by the Bank of Germany,
we have for the remaining European institutions an enlargement of
gold holding* ot $465,000,000, from which should be deducted the
$25,000,000 net received by Great Britain from India, Egypt, and
South America, etc., and the $107,000,000 decline in the holding of
gold in the United States, leaving net $333,000,000. There would
remain, therefore, $116,000,000 to represent the amount of gold
used in the arts, etc., a total some $50,000,000 less than most recently
estimated as the annual absorption, but under existing conditions apt
to be over rather than under the mark.
285
PRODUCTION OF THE PRECIOUS METALS.
OFFICIAL DETAILS FROM GOLD-PRODUCING COUNTRIES.
From the returns we have obtained from the mines, mint bureau,
and other official and semiofficial sources respecting gold mining in
1914 we are able to deduce the following:
United States. — A moderate augmentation in the yield of gold
fiom the mines of the United States is foreshadowed bv the prelimi¬
nary' estimate issued jointly by the Bureau of the Mint and Geologi¬
cal Survey, the output being put at 190,552 fine ounces more than in
1913, but 30,383 fine ounces less than in 1912. The increase in 1914
is contributed in greatest measure by California, Colorado, and
Alaska, where there were gains of 58,363 fine ounces, 85,691 fine
ounces, and 31,380 fine ounces, respectively. Montana and the
Philippines, however, also show very satisfactory increases, and pro¬
duction advanced moderately in South Dakota, Arizona, Oregon, and
!N ow Mexico. Nevada, on the other hand, showed a further important
decline, due mainly to the poorer quality of the ore treated in lead¬
ing fields; and the results in Utah, Washington, and Idaho fell below
those of the previous year. The ounces and values as estimated for
each State in 1914 contrast as follows with the final figures for 1913
and 1912:
Gold production in United States, 1912, 1913, and 1914.
State and Territory.
1912
1913
1914
Fine
ounces.
Value.
Fine
ounces.
Value.
Fine
ounces.
Value.
Alabama .
795
$16,400
443
$9,200
590
$12,200
Alaska .
831,981
17, 198, 600
735,364
15,201,300
766,744
15,850,000
Arizona .
183,117
3, 785, 400
198, 406
4, 101,400
218, 113
4,508,800
California .
967,887
20, 008,000
979, 174
20,241,300
1,037,537
21,447,800
Colorado .
906,606
18, 741,200
10,900
876,057
18, 109, 700
961,748
19,881,100
Georgia .
526
645
13,300
552
11,400
Idaho .
Maryland .
67,810
60
1, 401,700
1, 200
60,193
32
1,244,300
700
3,320,900
51,568
1,066,000
Montana .
179,371
3, 707, 900
160,647
190,361
3,935,100
Nevada .
656,724
13,575, 700
579,408
11,977,400
532,309
11,003,800
New Mexico .
36,506
754,600
43, 149
892,000
115,200
58,418
1,207,600
North Carolina .
7,544
1.56,000
5, 574
5,752
118,900
Oregon .
Philippine Islands .
Porto Rico .
36, 749
759, 700
71,495
1,477,900
77,134
1,594,500
22, 331
461,600
34,204
50
707,000
1, 100
51,282
150
1,060, 100
3.100
6. 100
South Carolina .
744
15,400
198
4, 100
295
South Dakota .
378,470
7,823, 700
348,988
7,214,200
355,621
7,310,000
Tennessee .
557
11,500
371
7,700
285
5,900
Texas .
105
2,200
11
200
498
10,300
Utah .
208,623
4,312,600
172,711
3,570,300
153,842
3,180,200
Virginia .
Washington .
14
300
11
200
48
1,000
33,023
682,600
31,806
657,500
29,383
607,400
Wyoming .
1,176
24,300
847
17,500
106
2,200
Total .
4, 520, 719
93, 451, 500
4,299, 784
88,884, 400
4,490,336
a 92, 823, 500
a See page 219 for final United States gold production figures.
Africa. — A reduction in the volume of gold secured from the
mines of Africa in 1914 is indicated by the returns at hand, an out¬
come of the disorganization following the strike in the Transvaal
in June-July, 1913, and the recrudescence of labor troubles in January
of 1914. Each month of the first half of the year gave a smaller
return from the Rand workings than in the corresponding period
of the previous year, but before the close of the period conditions
began to improve and in the closing months production approached
dose to normal. In the first six months the loss in output was no
286
REPORT OF THE DIRECTOR OF THE MINT.
less than 546 920 fine ounces as compared with 1913, but for the
last half of the year the gam was 150,391 fine ounces. For the
twelve months, therefore, the falling off reached 396,529 fine ounces
Th« nmtrafter JkthD191? -here was a declille of 719,999 fine ounces!
The output of the Rand in 1914 was as follows:
Wituatersrand district.
Month.
Fine ounces.
Value.
January .
February . .
March . .
621,902
597, 545
657,708
655,607
£2, 76S, 470
2,660, 1S6
2; 917, 346
2,901,924
3,059,340
3,049,558
3,111,398
3.024,037
2,982,630
3. 116. 754
3,010,677
2.952.755
$13,472,759
12,945,795
14,197,264
14,136,813
14,888,278
14.S40.674
15,141,162
14,716,476
14,514,969
15, 167,683
14,797,455
14,369,582
September . .
Optohftr . * .
689,259
688,232
703, 136
684,607
677,063
November . .
Djvwm h^r .
703, 9S5
685,450
Total
669,075
8,033,569
35, 5S8, 075
173,188,910
Districts of the Transvaal outside of the Rand did not do quite
as w ell as a year earlier, but a better showing was made by Rhodesia
where production mcreased from 689,934 fine ounces to 854 538
finei?U5S?* *Urtl?er Progress is to be noted in West Africa and a
small addition is indicated m Mozambique, Madagascar, etc. Finally,
?neiQ^WfV tJle11wh.ole of Africa was 131,478 &ie ounces less than
Sio fru* \ol}owm? a .^P of 254,236 fine ounces in 1913 from
nnnon,7r % total Product1lon m all districts of Africa in 1914 was
9,908,940 fine ounces, valued at £42,090,635 (8204,834,075).
Australasia-.— In practically every district of Australasia the
eclinmg tendency in production, which has been an annual feature
smce 1905 (due largely to the poorer grade ores in the lower levels
as well as to some extent to exhaustion), continued in 1914 the
latest years yidki being not much more than half of that of nine
years earlier. The subjoined statement indicates the product of
each colony during the year 1914:
Colony.
Fine
ounces.
Value.
Victoria .
New South Wales . .
Queensland . .
409,694
1139,000
220,064
1,245, 211
1 325, 000
1 15,000
‘40,000
*8, 469, 112
2,S73,3S0
W estem Australia . .
New Zealand . .
South Australia . .
Tasmania .
4,549,118
25,740,753
6,718,335
310,077
S26.872
Total .
2,393,969
49,487,648
1 Partly estimated.
Indm.—Th<> returns from the Colar field, from which ray much
he greater part of the East Indian product is obtained,' denote
that the yield of the country in 1914 was slightly greater than in the
&n/,yr-,doTIopmPn‘ bj>1^noted » majority of the mines
lhe details for 1914 are appended herewith: J * ^ines.
PRODUCTION OF THE PRECIOUS METALS.
287
Gold production from, the principal mines of East India.
Location of mine.
Fine
ounces.
Value.
Champion Reef .
137,255
96,261
230,665
79,924
17,403
13,350
27,0 15
$2,837,308
1,989,888
4,768,261
1,652, 173
359, 751
275,968
559,069
Ooregum .
Mysore .
Nundvdroog .
Balaghat .
North Anantapur .
Hutti, etc .
Total .
601,903
12,442,418
Russia. — With very little early information of a reliable nature
procurable from Russia in a normal year, it is a safe inference that
under existing conditions the difficulties in that direction would be
vastly increased. It is in fact true that as regards gold-mining
operations in 1914 practically no data is available at this time.
The situation, however, is such that a loss in production must have
occurred in 1914. We therefore hazard a tentative estimate of
* $20,000,000, or 967,500 fine ounces, as the output of the Russian
mines in the late year, or about 241,877 fine ounces less than in
1913. Details for the last 13 years are appended:
Russia's production.
Year.
Ounces.
Value.
Year.
Ounces.
Value.
1009
1,100,000
1,191,580
1,199,857
1,078,356
943,056
1,290,840
1,357,027
$22,739,013
24.632.200
24.803.200
22,291, 600
19,494,700
26,684,000
28,052,200
1909 .
1,566,448
1,721,163
1,555,333
1,073,875
1,200,327
967,500
$32,381,300
35.579.600
32.151.600
22,199,000
25,800,000
20,000,000
1910 .
IQOl
1911 .
Iqac;
1912 .
lOOO
1913 .
1 007
1914 .
1908 .
Canada. — Continued development of mining in British Columbia
and better results in the Yukon district account for the increasing
production of gold in Canada the last few years. As regards the
1914 yield of the mines, Mr. John McLeish, chief of the division of
mineral resources and statistics, department of mines of Canada,
was at first inclined to approximate it at $15,750,000, or a little
under the outturn of 1913, but late estimates from British Columbia
are of a nature to lead him to state in effect that, if they are approxi¬
mately correct, $1,250,000 should be added to his original estimate.
We have therefore adopted as the preliminary total for the year
1914 $17 000,000, or 822,376 fine ounces. This is the best result
since 1903. The exhibit for the last 15 yearn is as follows:
Year.
Ounces.
Value.
Year.
Ounces.
Value.
1,350,475
1,183,362
1,003,359
911,118
793, 350
700,800
681,660
405,553
$27,916,752
24,462,222
20,741,245
18,824,500
16,400,000
14,486,800
12,023,932
8,382,780
1908 .
i one
476,112
473,592
493, 708
473,159
611,885
784,525
822,376
$9,842,100
9,790,000
10,205,835
9,781,077
12,648,794
16,261,131
17,000,000
1 Q1 ft
i ni i
1 oi O
mio
Iftl 4
. .
1907 .
288
REPORT OF THE DIRECTOR OF THE MINT.
Other countries. — With the sources of information and means of
communication restricted as a result of the war in Europe, it is ob¬
vious that from other sections of the Continent, as well as from
Russia, no reliable data as to gold production can be secured now.
France and Austria are the only countries to be credited with a
mentionahle yield, but with both engaged in the war nearly half of
the year it must have decreased quite materially. In Mexico, too,
a further falhng off in output is to be predicated under the condi¬
tions existing. South and Central America and Japan and China
also, on the other hand, seem to have contributed a little more
largely to the world’s new stock of gold in 1914 than in 1913. But
“ Other countries” collectively, and not including Mexico, which ap¬
pears separately in our compilation, have apparently decreased their
production by about 50,000 fine ounces.
Estimated 'production of silver in principal countries of the world during 1914.
Country.
Fine ounces.
Commer¬
cial value. 1
United States .
67,929,700
40,000,000
13,800,000
77,000,000
$37,573,277
22,124,800
7,633,0 56
42,590,240
Mexico .
Australia .
Other producing countries .
Total .
198, 729, 700
109,921.373
i Commercial value calculated at the average price of sliver for the year 1914, viz, $0.55312.
SOME INTERESTING GOLD STATISTICS.
[From the Bankers’ Magazine, London, February, 1915.]
Each year the annual letters or circulars issued by the leading
bullion brokers with regard to such matters as the course of gold ana
silver during the year become increasingly important by reason of
tho exhaustive character of the survey which is made of the general
situation. This year the circular issued by Messrs. Samuel Montagu
& Co., tho well-known bankers, is of special interest with regard to
the particulars given concerning gold, though there is also a mass
of useful information with regard to silver.
After a reference to the disturbed political conditions of the year,
culminating in the outbreak of tho war, Messrs. Montagu refer to
the manner in which the currency system of Great Britain passed
through the fierce ordeal of last August with complete success. ‘‘On
no occasion,” they add, “did gold fail to be readily available on the
presentation of currency notes, notwithstanding that the stock of
gold at the disposal of the Bank of England was extremely small
compared with that of other European State banks.”
Peril apSj however, tho most interesting portion of the circular is
that referring to tho gold holdings of tho State banks and the world’s
production last year, and this portion of it wo produce verbatim,
though the circular in its entirety should, if possible, be obtained
from Messrs. Montagu, as it has a great deal of information likely
to be useful to bankers:
HOLDINGS OF 8TATE BANKS.
Ono important fact emerges from tho financial position created by the war. The
holdings of gold by the Shite banks of combatant nations on the Continent have
practic ally ceased for the time being to exercise their customary function as reserves
against the issue of notoa
PRODUCTION OF THE PRECIOUS METALS.
289
twTveaS tln^noTiirp! ™ g°-d of the German Reichsbank during the last
to become the sinews ofwlr. Slgmficance’ now that lts Sold reserves may be destined
A considerable portion of the gold added to the Reichsbank gold reserves since the
Tlm^ontrTp^ 01 th,e^ai“ insisted of the contents of the war chest held at Spandau.
Sued bv lb?' TW? ^ Goyernment over the use of gold is shown bv the order
l^ued by the Bundesrath prohibiting the export of gold under a penaltv of one
years imprisonment and a fine of £250. This accumulation of gold is not being
released for ordinary foreign banking purposes, but is being held presumablv for wa?
finance alone. As a consequence, Holland for many weeks past has refused to
accept German currency except at the heavy discount of between 7 and 8 per cent.
In contrast to this, M. Ribot, the French minister of finance, in his statement
before the budget committee on December 18, used these words with regard to the
Bank of France: “Never had its notes enjoyed greater credit, both in France and
abroad. They were everywhere at a premium, while the notes of the enemy coun¬
tries had considerably depreciated.”
GOLD EXPORTS FROM UNITED STATES OF AMERICA.
A great feature during the year has been the extremely large exports of gold from
the United States of America. At the beginning of August about £17,000,000 had
been arranged for shipment thence to Europe. Over £2,000,000 of this amount was
on the way to this country on board the Kronprinzessin Cecilie, a German liner, which
returned to New York in order to avoid risk of capture. Very substantial amounts
have been transferred from New York to Ottawa since hostilities began, and are there
deposited on account of the Bank of England.
WORLD’S PRODUCTION IN 1914.
There is no reason to anticipate otherwise than a further reduction in the world’s
output, owing chiefly to a substantial decrease in the production of the Transvaal.
Assuming the United States Mint figures for 1913 to be correct, there is a possibility
of the total production for 1914 falling off to about £92,000,000.
OUTPUT AND BANK RESERVES.
The fact that the country of origin is by no means the ultimate home of gold is
strikingly shown by placing the total gold output of the chief gold-producing coun¬
tries a°amst the total gold reserves held by the State institutions of those countries.
The year 1912 is selected because it is the last year for which production figures are
obtainable.
Country.
Production,
1912.
Holding,
end 1912.
British Empire .
United States . IIIIIIZIIIIIIIIIIIZI” _
. . . . .
France . . . .
Germany . ’ .
Austria . . .
Italy .
£59,900,000
19,200,000
4,600,000
350,000
16,000
420,000
2,000
£29,300,000
258,000,000
155, 800.000
128,300,000
38,500,000
50, 400,000
46,000,000
It will be Ob-™* «Bo?ime&ePr«
hues as much gold.as the L m s United States Treasury, and that, as
*• Mdins °f * r"
pective State bank is minuteexceptm which paper currency is in vogue.
POne explanation is to be found ^jiV^tiUzed freely in England, add it remains
SbeTeJn whethe“the'fre^Tl and I0S. notes issued in August will attract pet-
Sanently the public .fancy • ked that in normal times gold circulates in
hL%^nCTtSf4Kb^“2s" a head, compared with 18s. a head m the
United States of America.
9760°— 15 - 19
290
REPORT OF THE DIRECTOR OF THE MINT.
GOLD HELD BY BANKS IN THE UNITED KINGDOM.
In addition to the gold held against notes by the Bank of England, the following
amounts were held by l anks in the United Kingdom (including the Bank of England)
in the last week day of June each year since 1907, when a return was first made:° 1907
£33,296,802; 1908, £50,369,167; 1909, £49,221,074; 1910, £44,214,173; 1911, £54,009,977,’
1912, £60,640,681; 1913, £69,524,127. ’
The Bank of England held gold earmarked for the Straits Settle¬
ments currency note reserve at the close of each year as follows*
1914, £602,685; 1913, £642,685; 1912, £480,000.
HOLDINGS OF NATIONAL BANKS.
ii
The great State banks of Europe held gold as follows, as shown in
the latest returns :
Country.
1914
1913
1912
Great Britain .
H39 1?*;
£33,874,535
51,666,000
9,960,000
4,260,000
140,696,000
50,887,000
io noi nnn
£29,294,455
50,380,000
8,599,000
4,305,000
128, 293,000
38,504,000
13,390,000
46,019,000
2,353,000
155,841,000
17,485,000
5, 563,000
7,092,000
Austria-Hungary .
si S7ft non
Belgium .
A , ijfu, UUU
in Q77 mn
Denmark 1 .
iu, y 1 1 , uuu
A S9n non
France .
O^Uj uuu
165,670,000
i A4 07 a nnn
Germany .
Holland .
1U4 , A i t , UUU
1 7 ‘*‘*9 nnn
Italy 1 .
Li f »)o2, uuu
AO ft9C nnn
lA, 0J4, UUU
AC se s nnn
Norwajr .
49, U£o, UUU
9 9<in nnn
48, Oo O, U9U
9 as” nnn
Russia .
*40, UUU
17ft 7Qft ruvi
A, Do i , UUU
Igo o - - nnn
Spain .
IiO, I 90, UUU
99 S7n nnn
loo, OOO, UUU
io ific nnn
Sweden .
**, o/u, uuu
s OAQ nnn
jy, 108, uuu
c c**o nnn
Switzerland ....
Oj ouy, uuu
Q sin ruin
0,0 1 A, UUU
6,813,000
*7, OIU, uuu
1 It is possible that the figures set against these two banks include a small portion of silver.
INDIAN GOLD RESERVES.
Below are the holdings of the Indian Government toward the
close of the last three years:
Location .
1914
1913
1912
Gold in India against note issues .
Gold in London against note issues .
Gold in London on account of standard reserve.
Gold in India on account of standard reserve
Total .
£6,573,000
5, 100,000
1,650,000
3,507,000
£15,000,000
6, 100,000
2,695,000
1,847,000
£17,270,000
7, 300,000
250,000
16,830,000
25, 642,000
24,820,000
INDIAN IMPORTS.
The extraordinary capacity of India to attract gold attained its maximum in 1 9 1 9
when no less than £27,800,000 was imported. In 1913 the total fell to £1S >500 000
and this year to <£8,150,000, approximately. ’ ’
The reduction in the total of 1913 related only to the portion imported in the form
of sovereigns, for the shipments of bar gold from England during tfat year were well
maintained, as will be seen from comparing the following totals- 191 9 io4 onn-
1913, £9,917,000; 1914, £5,637,000. e 0lals‘ iJlZ’ £8>104,000,
intervened? ^ W°Uld haV® bee° equally substantial in 1914 had not the war
iseue8in8e^)mC£8 4^ 000 "ol.d fthel<1 in India on account of the note
8h?S?thS^8 flMOOOrf t£,« m egln?mg ?f 1912 ta £17,300,000 at the close of 1912,
placed »
PRODUCTION OF THE PRECIOUS METALS,
291
BAR GOLD.
Imports:
Transvaal . .
South Africa, Rhodesia . .
British India and Straits Settle¬
ments .
West A fried .
American States, excluding
United States of America .
Holland and colonies .
United States of America .
Australia and New Zealand. . . .
Other countries .
£21,950,000
2,150,000
1,900,000
1,700,000
1,250,000
800,000
500,000
450,000
200,000
300,000
Exports:
France .
British India .
Germany. . .
Spain and colonies. . . .
Holland and colonies.
Belgium .
South America .
Switzerland .
Portugal and colonies
Other countries .
Total..., .
Total.
31,200,000
£6,500,000
5,650,000
5, 550, 000
700,000
600,000
300,000
300,000
150,000
100,000
400,000
20,250,000
SOVEREIGNS.
The coinage of gold in the Empire during 1913 showed a considerable decrease.
This reduction is largely accounted for by a lessened demand for India during 1913.
The royal mint reported the issue of gold coin as detailed below:
Year.
England.
Australia.
Canada.
Total.
1912 .
£33,350,249
27,638,789
£9,113,401
. 9,207,467
£515
£42,464,165
36,849,998
1913 .
3,742
The following were the movements of sovereigns during the year:
Imports:
Argentina, Uruguay, and Para¬
guay .
Brazil .
Egypt.. .
Australia .
France .
Holland . - .
United States of America .
Germany . - .
Sundry other American States...
Portugal and colonies .
Other countries .
£3,750,000
3,750,000
3,100,000
350,000
300,000
200,000
150,000
150, 000
150,000
100,000
250,000
Exports:
France
Argentina, Uruguay, and Para¬
guay .
British India .
Holland and colonies .
South Africa .
Gibraltar .
Straits Settlements .
Belgium .
Malta .
Other countries .
£4,900,000
1,100,000
1,100,000
800,000
500,000
400,000
350,000
200,000
200,000
150,000
300,000
Total.
12,250,000
Total.
10,000,000
FOREIGN GOLD COIN.
Imports have been on an unusually large scale this year, principally in the form of
United States gold coin, which was sent into the Bank of England:
Imports: „ ,
United States of America.
Argentina, Uruguay, and Paraguay
Other countries .
£6,450,000
600,000
150,000
50,000
Exports:
France . £300,000
Other countries . 50, 000
Total.
7,250,000
Total.
350,000
THE GOLD PRODUCTION OF THE WORLD, 1913.
[From L’Economiste Europ6en, Mar. 6, 1914.)
From the statistics published by the Commercial and Financial
ntoTnoA 7^? productlon of m the world in 1913 is estimated
99 r^ro7 46 0unces’, representing a value of $454,877,70 8, against
22 565,697 ounces, valuing $466,473,575, in 1912.
1 913 P°l tl0nmeilt Product^on goW in the world in 1912 and
Country.
1912
1913
Australia . .
Russia . . .
Ounces.
10,294, 654
4,520,719
2,606,878
1,073,875
1,185,187
611, 8S5
2,272, 499
Ounces.
10,040,418
4,271,562
2,532,582
Various countries . . * .
Total .
1,209,377
980,000
645, 807
2,325,000
22,565,697
22,004,746
. ,The defection in the gold production which will be observed for
r-lca cpe to tbe strikes which had broken out in the South African
In the tinted States the production has tendecf to decrease for
several years after havmg reached the maximum with 4 S ‘>1 709
SdS'905 %UreS °f 1913 ^ the leaSt that ha™
successively until it reached 405 55S in ion? tV lt • , en
500 000 ounces nn tn ion «, i ,ood m 1907. It remamed less than
,uuu1 ounces up to 1911 and reached 611 885 mmees in iqio t+
amounts to 645,807 ounces in 1913 ’ ounces m 1912. It
“Cfn to itf
duriife 0XplaiU the St“dy de°rease of Production
292
INDEX
Abyssinia : Page.
Coinage 1913 _ 86
Monetary statistics of _ ]91
Production of gold _ 281
Africa :
British East, coinage 1913 _ 86
British West, coinage 1913 _ 86
German East, coinage 3913 and 1914 _ 86
Monetary statistics _ 191
Production of gold _ 281
South, production of gold _ 270
Alabama :
Production and gold and silver _ 218
Review _ 212
Alaska :
Production of gold and silver _ 218
Production of gold by dredges since 1904 _ 220
Review of 1914 _ 201
Appalachian States, production of gold and silver _ 212
Appropriations, expenses, and income _ 12
Appropriations, reimbursements, expenditures, and balances 1915 _ 13
Argentina :
Monetary statistics _ 125
Production of gold and silver _ 280
Arizona :
Production of gold and silver _ 218
Review of 1914 _ 203
Arts :
Industrial, gold and silver used in 1914, United States _ 222
Table of, since 1880 _ 223
Industrial, gold and silver used in 1914, world _ 224
Asia :
Monetary statistics of - 166
Production of gold and silver - 269
Assay commission, proceedings of, 1915 - 53
Assay office:
New York, operations of - 44
Seattle, operations of - 46
Assay offices, western - - 48, 49
Assets and liabilities - 74, 244
Australasia, coinage, 1913 and 1914 - 86
Gold and silver used in the arts — - 224
Production of gold and silver - 275
Australia :
Monetary statistics - 194
Production of gold and silver - 275
Coinage, 1913 and 1914 - 86
Austria-Hungary :
Coinage, 1913 — - 86
Monetary statistics of - 138
Production of gold and silver - 280
293
294
INDEX.
B.
Belgian Kongo, production of gold -
Belgium, coinage, 1913 - - - - -
Boise assay office, deposits, expenses, income, and employees.
Brazil :
Coinage, 1913 and 1914 -
Monetary statistics -
Production of gold and silver -
British Columbia, production of gold and silver -
British East Africa and Uganda, coinage, 1913 -
British Empire (see Great Britain), coinage of, 1913 and 1914
British Guiana:
Coinage of 1913 -
Industrial consumption - . -
Monetary statistics -
Production of gold -
British India (see India) :
Coinage of 1913 and 1914 -
Monetary statistics -
Production of gold and silver -
British North America, production of gold and silver -
British North Borneo, monetary statistics of -
British West Africa, coinage, 1913 -
Bullion and coin imported and exported -
Bullion :
Gold certificates and bars on hand -
Gold deposits -
Gold exchanged for gold coin -
Gold receipts and disbursements -
Imports and exports to and from London -
In mints and assay offices -
Silver deposits and purchases -
Silver exports from London to the East since 1881 -
Bulgaria, coinage, 1913 -
Bureau of the Mint, laboratory work at - - -
By-products of Government refineries -
Page.
281
86
48, 49
86
128
263
258
86
86
86
224
130
264
86
166
269
254
169
86
78, 246
17
17
23
35
235
59
18
233
86
52
23
C.
California :
Production of gold and silver -
Production by dredges since 1904 - -
Review, 1914 -
Canada :
Coinage, 1913 and 1914 -
Industrial consumption -
Monetary statistics of -
Production of -
United States gold coin in -
Carson Mint, deposits, expenses, income, and employees.
Central American States, production of gold and silver.
Central States of the United States, production of -
Certificate gold bars on hand -
Ceylon :
Coinage, 1913 and 1914 -
Monetary statistics of -
Chile, coinage, 1913 -
China :
Coinage, 1913 and 1914 -
Industrial arts -
Monetary statistics of -
Chosen (Korea) :
Monetary statistics of -
Production of gold and silver in _
218
220
204
86
225
111
254
62
48,49
258
207
17
S6
170
86
86
225
171
1S2
183
INDEX.
295
Coin and bullion (gold) :
Imported and exported.
« . stock of, in United States
Coinage of the United States :
Authority for coinage, changes in weight and fineness (table 1
By denominations and value since 1792 ( table 1
Calendar year 1914 _ _ _ _
Fine ounces and value since 1873 ( table 1
Fiscal year 1915 (table) _ _ _ -
For foreign countries _ “ _ _ _ "
For Panama-Pacific Exposition _
For Philippines _
Metal purchased for minor coinsZ__I _ ; _ “Hill'
Minor coins issued, melted, and outstanding _
Seigniorage on silver and minor coins (table) _
Uncurrent coin used in _
Coinage of nations, 1913 and 1914 _ ;
Coiners and melters and refiners’ operations _ _
Coins :
Foreign, melted by certain countries _
Foreign, values of _
United States, recoinage of _
Colombia :
Coinage, 1913 and 1914 _
Monetary statistics of _
Production of _
Colorado :
Production of _
Review _
Commercial ratio of silver to gold since 1687 _
Consolidated income and expenditures _
Consumption, industrial, of the world _
Copper, purchased, quantity and cost for use in minor coinage.
Costa Rica :
Coinage, 1914 -
Industrial arts - : -
Monetary statistics of -
Production of -
Cuba :
Coinage of -
Monetary statistics of.
Cyprus, coinage, 1913 -
D.
Dead wood assay office, deposits, expenses, income, and employees.
Denmark :
Coinage of, 1913 and 1914 -
Industrial arts -
Monetary statistics of -
Denver Mint operations -
Deposits, earnings, and expenditures by institutions -
Deposits and purchases of gold -
Deposits and purchases of silver - - -
Deposits of foreign gold bullion and coin -
Deposits of gold bullion - - — : - 7nn7 -
Dredge production of gold in Alaska and California since 1904 -
Dutch East Indies, coinage 1913 and 1914 -
Dutch Guiana:
Monetary statistics of -
Production of gold -
Page.
78. 246
. 58,60
90
94
252
~90
19
20
11
20
20
22
84
72, 242
86
49
93
65
72, 242
86
133
263
218
205
237
14
224
20
S6
226
120
258
19
116
86
48, 49
86
226
139
40
48,49
17
18
17
17
220
S6
134
265
E.
Earnings and expenditures, table of
East Africa and Uganda, coinage -
Ecuador, coinage, 1914 -
76
86
86
296
INDEX.
Egypt :
Coinage, 1913 and 1914 _
Monetary statistics of _ I _
Production of gold and silver _ I _ " _
Employees and deposits _ I _
Estimate of appropriations for 1917.!.!.! _ 7” _ I
Expenditures and income consolidated on account of mint service
Exports of gold coin _
Since 1870 _
Page.
86
187
269
48, 49
12
14
11
58
P.
Federated Malay States, production of gold
Finland :
Coinage of _
Monetary statistics of _ I_I _ ”
Production _
Foreign coins melted by various countries _
Foreign coins, values of _
Foi mosa and Japanese Saghalien, banking and
France :
Coinage, 1913 _
Monetary statistics of _ !!__!__!__
Production of gold and silver _
French colonies of Africa, coinage _
currency system
275
S6
140
268
93
65
185
86
141
280
86
51
G.
operations, wastage, and loss on sale of sweeps, fiscal year
Georgia :
Production of gold and silver _
Review _
German East Africa, coinage, 1913 and~:L9l4lI 212
Germany : - - °b
Coinage for 1913 and 1914_
Monetary statistics of
Production of gold and silver _
Average price in London since 1870. table „ .
Balances, receipts, and disbursements ™
Bars exchanged for coin and bullion ^7,
Bars used in the arts since 1880 _ _ ““ ~
Bn!!!™ C°In e*ported from New York, fiscaTy^r“l915 3’
| £ SS » £
SKK « »>*= J «
Bu ion in mints and assay offices.! 6S’ ^
BuUion receipts and disposition, fiscal - no
Bullion (surplus) recovered ' - 52
Certificate bars on hand June 30, 1915 16
Coinage by acts since 1792 37
Coinage by mints, tables 90
Coinage, fine ounces and value since isra 9-1
Coinage of the world, 1913 and 1914 - 00
Coin and bullion exports ~ 80
Coin of United States melted bv forehnTeonntrioo "8, 246
Co n of United States, net exports since 1 870 - 92
Coin of United States in Canada. ~ 58
Deposits and purchases at mints a~nd~n!«n_^77ffi^ - 02
Deposits since 1873 assay offices - - 238
££ Coins mplted by var ious "countries - 88
Industrial consumption! United" States!!!!!! - 78’ooo
INDEX.
297
Gold — Continued.
Industrial consumption, world _
Movement from New York _
Operations of melter and refiners and coiners _
Ownership in United States _
Production distributed by mines as reported by owners as to source!
Production of Appalachian States _ 1 _
Pi’oduction of foreign countries _
Production of mines since 1792, by ounces and value _ I_I _ !
Production of Philippines _
Production of United States, estimate of director _
Statistics _
Stock and per capita in the United States since 1S73 _
Stock of United States _
Used in arts in United States _
Used in the world _
Gold and silver production and movement in 1914 _
Gold Coast Colony, gold dust exported _
Government refineries, work of -
Great Britain :
Coinage, 1913 and 1914 -
Industrial arts _
Monetary statistics of -
Production _
Greece :
Monetary statistics of -
Guatemala :
Monetary statistics of -
Production of -
Guiana, British :
Coinage, 1913 -
Production - - -
Guiana, Dutch, production' -
Page.
224
56
49
59
220
212
254
221
212
218
289
60
58
222
224
282
271
22
86
226
144
266
156
122
258
86
264
265
H.
Helena assay office, deposits, expenses, income, and employees.
Honduras :
Coinage, 1913 -
Production of -
Hongkong, coinage, 1913 -
Hungary :
Coinage, 1913 and 1914 -
Monetary statistics -
I.
48,49
86
258
86
86
121
Idaho: _ _ 218
Production of gold and silvei _ _ 207
Review _ _ _ _ _ 207, 218
Illinois, P^^^^^iig^f^uPion and coinlnto and from- United States.. 72-246
S£££t3£2£2«t — * «">«• 14
India. (See British India.) 86
Coinage, 1913 and 1914 _ _ _ _ _ 100
Monetary statistics - _ " _ 269
-Production of gold - 86
Indo-China, coinage, 1913 -
mdustrial arts^er ^ United States - 224
Jnssss 3S&’sah=i=. - -
Production of gold and silvei -
298
INDEX.
J.
Japan :
Coinage, 1913 _
Monetary statistics of _
Production _
Page.
86
184
269
K.
Kentucky-Illinois (see Central States) production.
L.
Laboratory, Bureau of Mint, work of _
Liabilities and assets, mints and assay officesi _
Liechtenstein, coinage, 1913 _
Location of moneys of United States, June 30, 1915 _
Loss and wastage on sale of sweep and gains from operations.
Lowest, average, and highest price of silver since 1833 _
Lowest, average, and highest price of silver, 1915 _ '
M.
Madagascar :
Industrial consumption _
Monetary statistics of_ _ "
Production of gold _ I _
Maryland, production of gold and silver _ I _ "
Medals and proof coins, manufactured _
Metallic stock and paper money, Dec. 31, 1914 _
Metals for minor coinage purchased _ ~
Melting and refining and coining operation
Mexico: “
Coinage, 1913 _
Monetary statistics of _ “
Production of gold and silver _ I_HI" ~~ _
Michigan, production of silver _
Mine production of gold and silver since 1792, fine ounces and" value
Mines, production distributed as reported by owners
Mining in the Gold Coast _
Minor assay offices _ "
Minor coins: ~
Blanks and metal purchased, quantity and cost _
Distribution, expenditures for fiscal year 1915 _
Issued, melted, and outstanding _
Operations of melter and refiners and coiners, _fiscafvear"l915
Recoinage, fiscal year 1915 _ _ —
Seigniorage on _
Uncurrent transferred from Treasure
Mint at —
Denver, operations _
Philadelphia, operations _ _ ~
San Francisco, operations,
Mint service: " “
Appropriations, expenses, and income _
Deposits, expenses, income, and employees
Estimates for 1917 ‘
Missouri : ~ "
Production of _
Monetary legislation _
Monetary statistics of foreign countries
Monetary systems and approximate stock. 1913
Montana*00*1 °^’ States, June 30, 1915 _ ~~
Production of _
Montenegro, monetary statistics" of”~”I~"
53
74,244
86
59
51
236
230
226
193
270
218
32
229
20
49
86
115
280
218
221
220
272
48,49
20
21
22
65
72
16
72
40
24
33
12
49
12
218
108
110
63
58
218
208
158
INDEX.
299
Morocco : Page.
Coinage of, 1913 and 1914 _ 86
Monetary legislation _ _ _ 108
Movement of gold from port of New York, fiscal year 1915 _ 56
N.
Net exports United States gold coin since 1870 _
Netherlands :
Coinage, 1913 and 1914 -
Monetary statistics of -
Nevada :
Production of gold and silver -
Review _
New Mexico :
Production of -
Review _
New Orleans mint, .deposits, expenses, income, and employees
New South Wales, monetary statistics of -
New York assay office, operations -
New Zealand, monetary statistics of -
Nicaragua :
Coinage, 1913 and 1914 -
Monetary statistics of -
Production of -
North Carolina :
Production of gold and silver -
Review _
Norway :
Coinage of, 1913 -
Production of gold and silver -
Nova Scotia, monetary statistics of— - - -
Numismatic collection of Philadelphia Mint -
58
86
159
218
209
218
210
48, 49
194
44
197
86
123
258
218
207
86
280
115
29
O.
Oklahoma, production of silver -
Operations :
Mint service -
Assay office at New York -
Assay office at Seattle -
Mint at Denver -
Mint at Philadelphia -
Mint at San Francisco -
Other assay offices -
Melters and refiners and coiners -
Oregon :
Production of gold and silver -
Review _
Ownership of gold and silver in the United States, June 30, 1915.
218
7
44
46
40
24
33
48
49
218
211
55
P.
Panama, production of - - - - -
Panama-Pacific Exposition, coinage for -
Paper money and metallic stock, December 31, 1914
Paraguay, monetary statistics -
Persia :
Coinage, 1913 and 1914 -
Monetary statistics of -
l>oru *
Coinage, 1913 and 1914 -
Monetary statistics of -
Production of gold -
258
11
229
134
86
188
86
135
280
300
INDEX.
Page.
Philadelphia Mint operations _ 24
Philippine Islands:
Coinage, 1913 and 1914 _ 86
Production of gold and silver _ 212, 218
Porto Rico, production of gold and silver _ ’ 218
Portugal, coinage, 1913 _ 86
Price of silver :
Average, highest, and lowest _ 230
In London since 1833 _ 236
Proceedings of the assay commission, 1915 _ 53
Production of gold and silver in United States _ 10
By mines, since 1792 _ 221
By producing States and Territories, estimate of director _ 218
Production of gold and silver in foreign countries :
British North America _ 254
Central American States _ 258
South America _ 263
Europe - 265
Asia - 269
Africa _ 270
World _ 280
Purchases, quantity, and cost of metal used in minor coinage _ 20. 21
R.
Ratio of silver to gold since 1687 _ 237
Receipts and disposition of gold bullion, fiscal year 1915 _ 52
Receipts, disbursements, and balances of gold bullion _ 52
Recoinage of :
Domestic gold, silver, and minor uncurrent coins, table _ 72, 242
United States silver dollars since 1883 _ 61
The world _ 93
Refineries, Government, work of _ 22
Reimbursements, expenditures, balance, and appropriations of mint
service _ 13
Rhodesia, production of gold and silver _ 270
Roumania, coinage, 1914 _ 86
Russia :
Coinage, 1913 _ _ 86
Industrial consumption _ 227
Monetary statistics of _ 160
Production of gold and silver _ 267
S.
Sale of sweeps, loss on, and wastage from operations _ _ 51
Salt Lake City assay office, deposits and employees _ . _ 48
Salvador :
Coinage, 1913 and 1914 _ 86
Coinage by the United States for _ 20
Monetary statistics _ 124
Production of gold and silver _ 259
San Francisco Mint operations _ 33
Sarawak, coinage, 1913 _ 86
Seattle assay office, deposits, expenses, income, and employees _ 48, 49
Seigniorage on coinage, table - 84
Servia :
Coinage, 1913 and 1914 _ 86
Monetary statistics _ 163
Production of gold and silver _ 26S
Siam :
Coinage, 1913 and 1914 _ S6
Monetary statistics _ _ _ 1S9
INDEX.
301
Silver and gold:
Bars furnished for use in the arts —
In United States _
World _
Coinage —
By acts since 1792 _
By mints _
Calendar year 1914 _
Fine ounces and value since 1873 _ * _
Fiscal year 1915 _ I _
Of world _
Domestic exports, table of _
Imports and exports, British India _
Product as reported by mine owners, distributed as to source
Product by States and Territories, estimate of Director _
Product of the world -
Stock in United States _
Stock in United States since 1873 -
Used in the industrial arts —
United States - -
World _
Silver bullion and coin stock of United States, December 31, 1914_.
Silver bullion exported from United States since 1900 -
Silver bullion in mints and assay offices -
Silver bullion in mints and assay offices, December 31, 1914 -
Silver :
Commercial ratio to gold since 16S7 -
Coinage of the world, 1913 and 1914 -
Coinage, seigniorage -
Coins melted by certain countries -
Course of _
Deposits and purchases, calendar year 1914 -
Deposits and purchases, fiscal year 1915 -
Deposits since 1885 -
Dollars used in subsidiary coinage -
Exports from London to the East since 18S1 -
Highest, lowest, and average price -
Increase or decrease, production of -
Nickel, bronze, and gold operations -
Price of, during calendar year 1914 -
Price of, in London since 1833 -
Product, approximate disposition -
Product, distributed by States -
Product, distributed by States, increase or decrease -
Recoinage of uncurrent silver coin - - - ' -
Stock of, in United States -
World’s coinage, 1913 and 1914 -
World’s production -
World’s production since 1493, by periods -
Somaliland, coinage of, 1913 and 1914 -
South Africa :
Production of -
South America:
Coinage -
Monetary statistics -
Production of gold and silver -
South Carolina :
Production of gold and sdver -
Review -
South Dakota :
Production of gold and silver -
Sout^en^Appabichlsin States^ productkm of gold and silver.
Spalproduction of gold and silver - - -
Stuck of coin and bullion in United States, 1914 -
Page.
222
224
90
94
252
90
19
86
78
234
220
218
280
58
60
222
224
229
233
58
229
237
86
84
93
230
68
235
80
61
233
230
219
49
230
236
217
220
219
62
58
86
280
2S0
86
270
86
125
263
218
212
218
214
212
2S0
10
302
INDEX.
Stock of coin in United States:
June 30, 1915 _
By fiscal years since 1873 _
Stock of —
Gold and silver in United States since 1873_
Metallic and paper money, December 31, 1914
Fiscal year 1915 _
Straits Settlements :
Coinage, 1913 and 1914 _ _
Monetary statistics _
Subsidiary silver, seigniorage on, fiscal year 1915
Sweden :
Coinage, 1913 _
Production of gold _ " _ ‘
Sweeps, loss on sale of _
Switzerland :
Coinage, 1913 and 1914 _
Industrial consumption _
Monetary statistics _
Page.
58
60
60
58
58
86
190
84
86
280
51
86
227
164
T.
Tables, calendar year 1914:
Assets and liabilities
Coinage of United States _ £44
Coinage of the world _ ~ ~
Commercial ratio of silver to gold since~1687 ooc
Course of silver _
Domestic production and deposits of gSd7 mints' 7nd "assay — oS
Dre£ 0UPtSU2S 0f <**•* offloSI 240 '
Exports of gold from port of New York. 1914 “ £.?2
Exports of silver bullion from United States since 1900 oaa
Exports of silver from London to the East since 1881 ooo
Gold7and silver imported to and export^ SS BritVs^YndTa sln^ 233
Gold and silver used in' the'iirts rinTO"l88o”“ "ooo SS
Goid bars exchanged for bullion and coin _
Highest, lowest, and average price of silver “ Zzt
In London since 1833 _ ~
Imports and exports of bullion and coin £36
Imports and exports of precious metals from London Z t-
Life of coinage dies, 1914 _ ou - 23.)
Location of metallic and paper money in United States
Mine production since 1792_ states - 58
Mutilated and uncurrent coins for recofnaee H*
Production of gold and silver— - 242
United dif rib”ted bJ' mines as to source _ ooo
i nited States, estimate of director ~ — — U
Uihted States, increase or deSsel" - £18
^01 d’ ounces and value since 18G0 27b
smce W83. by Periods _ 2‘7
Stock of money in United States___ 278
,,, , , oGd’s industrial consumption, 1914 --- — 229
Tables, fiscal year 1915 : - 224
Assets and liabilities
~ S
Coinage of nations, 1913 and 1914__ — - - 85
Coinage of United States, by acts7 since~i7Q*> - SG
ssE sS i
Deposits of silver since 188 8S
Domestic production and deposits of'gold - 78
"r 68
INDEX.
303
Tables, fiscal year 1915 — Continued.
Domestic production and purchases of silver _
Earnings and expenditures _
Foreign coins melted by various countries _
Foreign exports of gold and silver _
Gold coin of the United States imported and melted by
tries _
Imports and exports of gold and silver _
Mutilated and uncurrent coins received for recoinage..
Recoinages of the world _
Seigniorage on coinage and its distribution _
Tasmania :
Monetary statistics of _
Production of gold, table _
Tennessee :
Production of gold and silver -
Review _
Texas, production of gold and silver -
The course of silver _ _ _
Transvaal :
Gold production, 1913 and 1914 -
Monetary statistics of. - < -
Turkey, coinage, 1913 -
Tunis, coinage, 1913 _
Page.
- 70
- 76
- 93
- 78
various coun-
- 92
- 78
_ 72
- - - 93
_ 84
_ 197
_ 280
218
212
215, 218
230
280
_ 191
86
86
U.
Uncurrent domestic coin melted -
United States:
Coinage by acts since 1792 - - -
Coinage by mints and denomination since 1792 -
Coinage, calendar year 1914 _
Coinage dies, life of - -
Coinage, fiscal year 1915 - -
Coinage, ounces and value since 1873 -
Coinage, 1913 and 1914 _ _
Gold coin in Canada _
Imports and exports _
Industrial consumption _ — - -
Operations of mints and assay offices -
Production by States _ ; -
Production of gold and silver, fine ounces and value, si c
Uruguay :
Monetary statistics of -
Production of _
Utah :
Production of gold and silver - _
Review _ _ _
72, 212
90
94
19
253
252
90
86
62
78, 246
222
24
218
221
137
280
218
215
V.
Value of foreign coins -
Venezuela :
Coinage, 1913 — - - -
Monetary statistics of — - -
Production of gold and silver. _
Virginia : , „
Production of gold and silver —
Review -
“pSi of go.d and sHvor..
^aSTodroS'o'o^Te^ToiVind eai™ from
West African gold mines.--- - - -
Work of Government lehneis -
65
86
138
2S0
218
212
218
216
51
272
22, 23
304
INDEX.
Work of laboratory, Bureau of Mint _
World :
Coinage, 1913 and 1914 _
Coins melted by various countries _
Coins, value of _
Coins, value of, changes in _
Gold production, 1913 _
Imports and exports _
Industrial consumption _
Monetary statistics _
Production, 1913 and 1914, by countries
Production since 1860 _
Production since 1493, by periods _
Recoinage _
Wyoming, production of gold and silver _
Page.
53
86
93
65
66
293
78
224
110
2S0
277
278
93
216
Yukon :
Industrial consumption _
Production of gold and silver.
Y.
225
225
Z.
Zanzibar, monetary statistics of _ 194
Zinc, etc., purchased for use in minor coinage _ 20
o
H.J.DENCKL/
QBNVLK. Goto.
ANNUAL REPORT OF THE
Director of the Mint
FOR THE FISCAL YEAR
ENDED JUNE 30
1913
AND ALSO REPORT ON
The Production of the
Precious Metals
IN THE CALENDAR YEAR
1912
WASHINGTON
GOVERNMENT PRINTING OFFICE
1914
Treasury Department,
Document No. 2704.
Director of the Mint.
CONTENTS.
REPORT OF MINT OPERATIONS.
Mint service .
Employees and expenditures of the mint service, 1893-1913
Gold-certificate bars .
Estimates for the fiscal year 1915 .
Appropriations for 1913 .
Parting and refining fund . . .
Consolidated income and expenditure .
Deposits of gold bullion .
Deposits of foreign gold bullion and coin .
Deposits and purchases of silver .
Deposits of foreign silver bullion and coin .
Coinage . . .
Purchase of minor coinage metal .
Purchase of minor coinage blanks .
Distribution of minor coins .
Philippine coinage. . - .
Work of the Government refineries .
By-products of refineries . - . .
Exchange of fine-gold bars for gold coin and gold bullion .
Mint at Philadelphia, operations .
Mint at San Francisco, operations .
Mint at Denver, operations .
Assay office at New York, operations .
Assay office at Seattle, operations .
Other assay offices .
Life of coinage dies . . .
Deposits, earnings, and expenditures, by institutions .
Operations of the melter and refiners and the coiners . . .
Wastage and loss on sale of sweeps and gains from operations .
Redeposits and disposition of gold bullion .
Balances, receipts, and disbursements .
Laboratory of the Bureau of the Mint .
Proceedings of the assay commission, 1913 .
Movement of gold from port of New York .
Net exports United States gold coin .
Stock of money in United States — - - . - . . .
Standard silver dollars used in subsidiary silver coinage .
Recoinage of uncurrent silver coins .
Monetary systems and approximate stock of money in principal countries of
the world, 1912 .
Monetary stocks . - .
Gold movement to India .
Gold and prices .
Unite/stetea gold coin imported and melted by various countries, 19i2 .
Values of foreign coins .
Appendix (tabulated data) . - - .
Monetary statistics of foreign countries .
3
Page.
7
12
13
13
13
15
15
17
17
17
18
18
20
20
20
21
22
22
23
23
37
41
47
50
51
51
52
52
54
54
55
55
56
58
60
60
62
63
63
64
66
66
67
70
72
73
77
125
4
CONTENTS.
REPORT ON PRODUCTION OF THE PRECIOUS METALS.
Production and consumption of gold and silver in the United States during
the calendar year 1912 .
Approximate gold product . .
Approximate silver product .
Dredge production since 1906 . ’
Mine production since 1792 . [[
Gold and silver used in industrial arts in the United State’s during the calendar
year laiJ .
Exchange of fine-gold bars for gold coin and gold bullion .
Stock ot money in the United States .
The course of silver . .
Exports of silver bullion from the United States . .
Exports of silver from London to the East . . !
Gold and silver imported into and exported from British India .
Imports and exports of bullion into and from London .
3lt 19?2eXP°rtfi °f ^ PreCi°Ua metal9 by the Principal" countries" of " the
Highest, lowest and average price of bar silver in London" .
Commercial value of silver to gold since 1687 .
Deposits of gold and silver . * . .
Assets and liabilities, mints and assay offices*..".’.".’.".*. .
Imports and exports of bullion and coin .
Coinage of United States, 1912 . .
Production of gold and silver in foreign countries .
pr0jUct!on otr g°ld and silver, 1910, 1911 "and 191*2 .
\\ orld s production of gold and silver since 1860 .
Production of gold and silver in the world since discovery of America". ! .* .* .* .* .*
Page.
229
241
241
244
245
246
248
260
261
264
265
265
266
267
268
269
270
274
276
283
284
311
314
315
PART I.
REPORT OF THE DIRECTOR ON THE OPERATIONS OF THE
MINT SERVICE FOR THE FISCAL YEAR 1913.
REPORT
OF THE
DIRECTOR OF THE MINT.
Treasury Department,
Bureau of the Mint,
Washington, D • 0., Januavy 10, 1 911/..
Sir: In compliance with the provisions of section 345, Revised
Statutes of the United States, f am subnnttmg herewith a report
covering the operations of the mints and assay o fortv-first
States For the fiscal year ended June 30, 1913, bei g , for
annual report of the Director of the Mint. I am also submitting tor
publication in connection therewith the annual rep metaJs jn the
upon the production and consumption ol the p
United States for the calendar year 191-.
mint service.
OPERATIONS OF THE MINTS.
The three coinage mints, at
Sc“t NeTYoT Charlotte, New Orleans, Deadwood,' Helena,
during the year f™o^4 496 y>V70 of which $30,058,227.50 was
the year amounted to $37,4. • » . -6g 55 was nickel, and
gold, $3,448,199.75 was silver, $2,861,7b».oo
$1,128,333.90 was bronze. amounted to 1,779,992 99
The purchases of silver dun Jg J cost Gf 61 cents per ounce,
ounces, costing $1,086^347.87, a coinf during the year amounted
The seigniorage on subsidiary . +he minor coin amounted to
to $1,618,475.17, and the seigmorage J , for and turned mto
$3,548,520.03, all of which was duly account
the Treasury. , . i the vear also coined 803,34s
The mint at Philadelphia duim y and the mint at
pieces of silver for of “ifver an<i 5,001,000 bronze
San Francisco coined 2,638,8Zupiec
pieces for the Philippme Islands governme
PHILADELPHIA MINT.
rvr->Arniion throughout the year,
The Philadelphia Mint has been m P j settlement. A ™*
excepting the period required for .t^ tial operation during ; the
minor coinage plant has >< ‘ P ingots have been made o 1 1 1
year. Heretofore the minor com in^ot 7
8
REPORT OF THE DIRECTOR OF THE MINT.
mately the same size as the ingots of gold and silver and rolled in the
same mills. The new ingots are 23 inches long, 4J inches wide, and
three-fourths of an inch thick, and will be rolled in 16-inch mills in¬
stalled for this purpose. The capacity of the mint for minor coins
is greatly increased. Particulars are given elsewhere in this report.
Continuous experiments with oil-burning furnaces have been under
way at this mint for the last two years, but the results have not been
entirely satisfactory. The increase in the price of gasoline during
the year has been so great that after a calculation of costs it was
ound advantageous to go back to the use of illuminating gas for
melting purposes. fe
SAN FRANCISCO MINT.
i A chill!?e superintendents has occurred at this mint since the
Frank-0 A t fifa Thaddeus W. H. Shanahan succeeding Mr.
5n£TA- Leach. The latter originally served between August 1897
and November, 1907, becoming Director of the Mint at ^the’ latter
date. Having resigned the latter position in 1 909 he was reanoointed
“ ATn\i91?’ a? superintendent of the mint, to fiU XTcancv
caused by the death of Edward Sweeney.
wUcnSC^S4k”rNotembn2ntlS9^d T"* ofJulldsv was had’
isaK;; ,ra„™ tp
— uaiiST.
tlie closegof thePfiscd yea?1 Thomas mf*ltutl011 has beeu made since
Downer, who had held Frank M.
his administration, in 1906, the histituH™ b mber 3> 1902- Under
supply an assay office to a comaFe S i^"3 reorganized from
thmg was found in order, and thf l3 U?on .settlement everv-
mstitution, amounting to $499 695 091 96 C<°Ul cllar&ecl to the
incoming superintendent. , ,U91-90, was turned over to the
found an account of su^esfK experiments0113 Rf thi-S mint wil1 be
th,3 refinery almost fmm the opekb^S’ ,Tho has boenln c Cge oi
and promoted to the position of sun£w thf mint> was transflred
refining department </ the New Yorf ^“o&fe ,°f th® “eltin« “nd
«»»AT omo. at charlotte closed.
finally on 7 °®co Charlotte, N C «* i a
fOT " 8UPPMt ^
OPERATIONS OF THE MINT SERVICE.
9
valuable for further use were shipped to other institutions of the
service and the remainder of the furniture and outfit was sold at
auction on the premises and the proceeds turned into the Treasury.
In recent years the receipts of bullion at the Charlotte office have
been insufficient to warrant its continuance, amounting in the last
fiscal year to only $29,428.30.
The Charlotte assay office was originally established as a coinage
mbit in an act approved March 3, 1835, which also established branch
mints at New Orleans, La., and Dahlonega, Ga. The mints at Char¬
lotte and Dahlonega were designed to serve the gold-producing dis¬
tricts of the southern Appalachian region, which at that time com¬
prised the only gold-mining territory in the United States. New
Orleans was an important commercial port, and the mint there was
expected to operate upon foreign coin and bullion.
From 1804 to 1823 small deposits of native gold aggregating in
three years $47,000 had been received at the Philadelphia Mint from
North Carolina. • The receipts from this State gradually increased,
and in 1829 they amounted to $134,000, and there was also $2,500
from Virginia and $3,500 from South Carolina. In 1830 Georgia
entered the list of gold-producing States with an output of $212,000,
and the yield of the four States aggregated $466,000. In 1831
Alabama and Tennessee each made a small showing and in 1834 the
southern Appalachian region made its best output, approximately
$900,000. In the following year the act providing for the three new
branch mints was passed. , ~
In November, 1835, Levi Woodbury, Secretary of the Treasury,
was notified by Samuel McComb, who had been appointed to select a
site for the Charlotte branch, that he had purchased from nil tain
Carson and F. L. Smith a full square containing near 4 acres ot land
for $1,500. , ,f • ,i
Proposals for the erection of the building were advertised for m the
Charlotte Journal, Washington Globe, Richmond Inquirer, and the
North Carolina Standard* to Perry &
Ligon, of Raleigh, N. C., on October 15 1835, at *29,800, » be com
Pleted January 1, 1837. The cost of the machinery, to > b ^f™hed
by the Director of the Mint at Philadelphia, was
Coleman, Sellers & Sons, Philadelphia, finished the steam ^ ^
shaft, etc., for *8,297, while
coming presses, draw benches, etc., foi $6,6. • occurred
shipped to Charlotte in April, 1837.
m transporting the heavy machinery to Charlotte, ana
engine was not set up until the middle of 1 USL,U; oS the first super-
. JohnH. Wheeler, of North Caxohna, was aPP01^ lv^ja, were
mtendent. J. H. Gibbon and John R. Bolton, of Pen^y^ lS37> the
appointed assayer and coiner, respective y. jepogits of gold had
Secretary of the Treasury was advised that bthe depots ^
amounted to $130,600 and the coinage to $84J ^ ^ transmitting
eoinage were made at the Philadelpl ^ the superintendent,
them the Director of the Mint urged t < • ,, uV tpe (qos are dated
to hasten the coinage, and mentioned t iiT 1837. The reason
1838, there was no objection to be tested and par¬
pen for haste was that the equipment mignt^^ r which
ticularly the operation of the coinage P'°^ f <piie application of
Was regarded as in some degree experimental. PP
10
REPORT OF THE DIRECTOR OF THE MINT.
steam power to coinage was first made in this country at the Phila¬
delphia Mint in 1836.
On the night of July 27, 1844, it was nearly destroyed by fire,
which occurred in the coining room, and nearly consumed the entire
building. The machinery was seriously injured but the records being
stored in the vault, were not injured. Mr. Caldwell, the superin¬
tendent, reported that evidently the fire was the work of a thief, as
his living apartments had been entered and articles stolen.
The present building was authorized by act of March 3, 184.5, and
was completed at a cost of $31,572.97, and occupied in 1S46, and
used for coinage purposes until May 20, 1861, when North Carolina
entered the Confederacy and operations were suspended. The build¬
ing was used during the Civil War as a Confederate hospital.
The coinage made at Charlotte was as follows:
Calendar year.
1838 .
1S39 . .
1840 . .
1841 . .
1842 . .
1843 . .
1844 .
1845 1 . .
1846 . .
Gold.
Half
$64,565
117,335
95, 140
107,555
137,400
221,765
118,155
Quarter.
eagles.
$19, 770.00
45.432.50
32,095.00
25. 742. 50
16.842.50
65,240.00
29,055.00
Dollars.
Total value.
$84,335.00
162. 767. 50
127,235.00
133.297.50
154.242.50
287,005.00
147,210.00
1847 . .
1848 . HI .
1849 . . .
1850 . .
1851 . .
1852 . .
1853 . .
1854 . .
1855 . .
1856 . .
1857 . .
1858 . .
1859 . . .
1860 . .
1861 * . Hi;:;::;;;;:;;;;;; .
Total .
64,975
420,755
322, 360
324,115
317,955
245,880
362, 870
327,855
196, 455
198,940
142,285
156,800
194,280
159,235
74,065
34,395
12,020.00
58,065.00
41,970.00
25,550.00
22,870.00
37,307.50
24,430.00
18.237.50
9, 192. 50
19. 782. 50
22, 640.00
IS, 672. 50
$11,634
6,966
41,267
9,434
11,515
4
9,803
"*13, *280
*5,235
4,405,135
544,915.00
109, 138
1 Mint burned July 27, 1844.
76,995.00
478,820.00
364,330.00
361,299.00
347,791.00
324.454.50
396,734.00
339,370.00
214.696.50
217.935.50
162,067.50
170,080.00
216,920.00
164,470.00
92, 737. 50
34,395.00
5,059,188.00
2 Operations suspended May 20 1861
by act of
of the fiscal vear 1913. maintained as such until the close
The mint at Dahloneea was - , ..
War.
machinery removedTn 191 0.“’' ^
ASSAY OFFICE at new YORK.
The New York assay office has R™,u j
WnrfSayS dAUring theVst year than Sff™ buUjon and mad,
been done under many difficulties tl,! !I^ fbel°re’ and the work ha-
to insufficient approbations Th’J 7 C-hlff °t 'vhkh have been dm
^ m ,h° Phll“SrfPbi» Mint and Vpeningof
OPERATIONS OF THE MINT SERVICE.
11
refinery in the New York office has greatly increased the expenses.
The earnings of the office from charges on bullion for treatment
and for the manufacture of bars have correspondingly increased, but
these earnings go directly into the Treasury and are not available
for the payment of expenses.
These earnings for the last three fiscal years were as follows:
Fiscal year.
Amount.
1910- 11.
1911- 12.
1912- 13.
$95,940.62
110,256.16
166,641.53
The total expenditures of this office for the fiscal year 1913 were
$191,773.47, so that it does not fall far short of reimbursing the
Treasury for all expenditures in its behalf. As the larger part of the
receipts consists oi refined gold, which under the law is almost free
from charges, the proportion of earnings to expenditures is very high.
It is earnestly represented that the increased estimates submitted
for this office should be allowed in full.
The office is still crowded into the rear building intended to accom¬
modate only the melting and refining departments. The rooms are
inadequate for the entire office force and are unsuitable for transac¬
tions with the public. It is very much hoped that the new building
planned for the Wall Street front may be pushed forward for early
occupancy.
WESTERN ASSAY OFFICES.
The appropriations for the fiscal year 1914 for the assay offices
at Deadwood, Helena, Salt Lake City, Boise and Carson were finally
agreed to in conference between the two houses of Congress on the
morning of March 4, 1913, after a protracted struggle between the
House of Representatives, favoring the abolition of these offices, and
the Senate, desiring to retain them. By the agreement the appro¬
priations were cut below the cost of maintaining the offices on an
efficient basis, and the appropriation for the transportation of bullion
from the assay offices to the mints was cut far below the amount
required for this purpose if all of these offices are to be kept open on
the usual terms. The department has had no alternative but to
cease receiving bullion at these offices, except upon the condition that
the bullion would be transported to the mints at the expense of the
depositors. This condition has been complied with to some extent,
but the deposits at all of the minor offices have fallen off in conse¬
quence.
If these offices are to be maintained at all, the appropriations
should be sufficient for the employment of competent assayers and
helpers to safely and promptly care for the bullion. The assayers
are authorized to buy all of the gold bullion offered and to draw
checks on the Treasury of the United States in payment therefor.
This is an important responsibility and should only be trusted with
men of technical ability and substantial character. The estimates
submitted for the fiscal year 1914 are made upon the lowest possible
basis consistent with the proper administration of these offices.
12
REPORT OF THE DIRECTOR OF THE MINT.
EMPLOYEES AND EXPENDITURES OF THE MINT SERVICE, 1893-1913.
Ihe number of employees in the entire mint service on the 1st day
of July, 1913, was less by 25 than on the 1st day of July, 1912. In
this connection it will be interesting to note that the number of
employees in the service is now considerably less than it was 20 years
ago, although more offices are maintained and the volume of business
is much larger. The number of persons on the pay rolls at each
institution m 1893, 1912, and in 1913 are given below :
Institution.
Philadelphia
San Francisco
Denver .
New Orleans
Carson .
New York..
Helena .
Boise .
St. Louis...
Charlotte...
Dead wood..
Seattle .
Salt Lake..
Bureau .
Total
July 1,
1893.
July 1,
1912.
July 1,
1913.
387
333
329
174
124
115
16
93
93
107
14
14
31
8
5
67
89
92
13
8
6
10
10
5
3
3
•••••«....
3
5
■■•••••••a
«•••••••••
5
19
19
6
4
18
14
14
829
726
701
lflmsXwnYy thrMlowfng^gures:8"5’1 °f tW° -Vears 1893 and
Item.
1893
1913
Gold deposits .
Operating expenditures . .
Income from charges, by-products", etc . .
*46,449,841
*1,344,005
SUlQft
*161, 131, 878
*1,175,750
Gold bars made for the arts . . . .
Gold bars made for certificate reserve _ I . . . .
Coinage: . *
. .
wiyo, Zo7
*1, 176, 620
*12,996,491
.
S4Q ASK l *7 n
*482,317
*693,433
538,011,583
*101,677,121
Bullion treated in refineries: I ine ounces... . . .
. . .
v'iO, 050, 179
97,280,875
5,419,134
*37,539, 375
195,070,039
11,501,736
the value of the gold coinage? which “ due ! ?i?“l 1893 Was in
allowing ;gold bars to be canted in the certifies L the law of
bcr of pieces coined m 1913 was twice as mn„ ‘ ?erVe’ The num-
?ne,«?ieS.ed demanc! for the small coiS Kif Vi 1893> owing to
m 18.)3 the one and five cent blanl-« ™ ^ should be added mat
manufacturers, while in 191 nil „ • vs were purchased of ont«Ll«
plete from the ingots"1 It sho^dXri"^ “
sara: 1893 the wage scaie
improved equipment, much of H m°?t part to the introduction
tic ally ah of it develop™ within \fUtoTatic machinery and Zf
mint mechanics. Ptd Wltlun mint service and ' buiUby the"
OPERATIONS OF THE MINT SERVICE.
13
GOLD CERTIFICATE BARS.
At the close of the fiscal year refined gold bars, duly stamped with
their weight, fineness, and Value, in accordance with the provisions
of the act of Congress approved March 2, 1911, providing for the
issue of gold certificates against gold bullion and foreign gold coin,
were held at the several mints and the assay office at New York as
follows:
San Francisco Mint - .......... ■ ■ - - - - >•••••«•/ i J . Ifr' 5™ ™ * .... I
Denver Mint. •/' A ***’-'**' fXh^- .
Total . 105,860,546.36
ESTIMATES FOR THE FISCAL YEAR 1915.
The total of estimates for the mint service for the fiscal year 1915
including the bureau office in Washington, is SI,21 ' ’83°>
compares with estimates of $1,222,270 for the fiscal year 1914 and
appropriations for the latter year of $1,154,130. .
1 As already stated above, the appropriations for the support of
several of the assay offices during the current year are too small to
allow of their being conducted in a proper manner Lither tne
appropriations should be increased or the offices should be abolishe .
In making comparison between appropriations since the fiscal year
i912 with appropriations for prior years it should be understood
that in former years the earnings from charges upon bullion weie
directlv available for use in payment of expenses, thus supplementing
the Annual apW)priations, while since 1912 all charges upon bullion
lave been paffinto the general fund of the Treasury as a m^ceUaneous
receipt. The charges during the fiscal year 1913, thus applica
under former practice to current expenses, amounted to $3o6,0/9.„4.
APPROPRIATIONS FOR 1913.
The amounts appropriated for conducting the mint service during
the fiscal year 1913 totaled $1,230,002.08, to which should be added
"P® ^imfinrsernents for work done for the Philippine and Costa
Rican Governments and for United States Government institutions,
^ nntiucr to $44 277.11; also unexpended balances of permanent
appropriations amounting to $13,353.35; this > the . total amount
ati^xpe^
noted) total $1,171,964.39, to which a few minor unsettled bills may
beTheunexpended balance totals $120,372.10, from which should
be deducted deficiencies totaling $4,703.95, giving net unexpended
balances of $115,668.15. Of the unexpended balances $1-, 700. 13
(permanent appropriation balances) continues to be available until
used, and the remainder, $107,671.97, reverts to the surplus fund of
^The deficiencies occurred at the New York assay office and the
Denver Mint and were occasioned, principally, by losses or precious
metals in refinery operations. In prior years such losses were paid
from the earnings; but, beginning with the fiscal year 1913, arenow
payable from our annual appropriations.
14
BEPORT OF THE DIRECTOR OF THE AUNT.
stated: ^ inStitUtions> "* shown “ following tabulated
Appropriation*, reimbursements , expenditures , and balances, all offices, fiscal
year 191S.
Items.
Office Director of Mint:
for 1913 . ,126, 124. 72
24,695.25.::::::::::;
Expended . "1"
Unexpended balance...
Mint at Philadelphia:
A ppropriations.
Salaries.
Wages of
workmen.
Contin¬
gent ex¬
penses.
Freight
on bul¬
lion and
coin.
Xew ma.
chinery
and ap¬
pliances.
Totals.
1.429.44 ....
q XX . m i
3»,0S-32 . 11 23, 606- S
ii ai rnuadelphia: ~
r8SS2±S 10,0001 oo1
Unexpended balance 'of
permanent appropria¬
te® .
E^^iforaae .
. n,oo2-84 —
k nexpended balance ... 2, 692. 44
Mint at San Francisco:
ESK^Slm . •*■*»« rn.ao.oo'
. ^ . IS, 212. 20 9,106.
Available for use . S4 w m
Ew>4 . :::::|SSS?
1 nexpended balance. ..J 6,037.43
Mint at Denver' I-
rS5SSS£.“;“;I «•«*>
t nexpended balance of
P^«>t appropria.
Available for use
Expended .
Unexpended balance
7 office at N ew York-
^jSSfKSv
permanent
Don .
Available for use
Expended
Unexpended balance. . .
Mint at New Orie^.
Appropriated for 1913 I
Expended.. u . 10,300.00
. I ',900.00
Enexpended balance.
Mint at Carson Citv
Unexpended balance
Assay office at Helena:
'E®Stedl°rl9« . 10,400.00
_ . 8,800.00
t-^pended behnce...^^
* f-ltarjeable, as indicated in
ParCOllle®w' t° D*® various offices.
‘Deficiency,*,^*
OPERATIONS OF THE MINT SERVICE
15
Appropriations, reimbursements , expenditures, and balances, all offices, fiscal year 1913 —
Continued.
Appropriations.
9
Items.
1
Salaries. ^
Wages of
workmen.
Contin¬
gent ex¬
penses.
Equip¬
ment,
New
York
assay
office.
Freight
on bul¬
lion and
coin.
New ma¬
chinery
and ap¬
pliances.
Totals.
Assay office at Boise:
Appropriated for 1913 .
Expended .
Unexpended balance. . .
$S,050.00
8,045.83
$3,540.00
3,290.00
$2,500.00
2,323. 44
($1, 103.13)
$14,090.00
13,659.27
4. 17
250.00
176.56
430. 73
Assay office at Charlotte:
Appropriated for 1913 .
Expended .
1,500.00
1,500.00
900.00
896.91
400.00
206.63
(35.05)
2,800.00
2,603. 54
Unexpended balance. . .
3.09
193.37
196. 46
Assay office at Dead wood:
Appropriated for 1913 .
Expended .
6,236.80
6, 106.61
3,000.00
2,994.99
1,500.00
1,488. 37
(3,804.00)
10,736.80
10,589.97
Unexpended balance. . .
Assay office at Seattle:
Appropriated for 1913 .
Expended .
130.19
5.01
11.63
146.83
13,050.00
13,050.00
22,000.00
14,695.25
6,500.00
4,827.05
(8,802.65)
41,550.00
32,572.30
Unexpended balance. . .
7,304.75
1,672.95
8,977.70
Assay office at Salt Lake City:
Appropriated for 1913 -
Expended .
. 7, 100. 0(
7, 100. 0(
) 4,500.00
) 3,467.50
3,500.00
3,302. 48
i .
; .
(688.55)
15, 100. 00
13,869.98
Unexpended balance . .
1,032. 5C
197. 52
►
1,230.02
Totals, entire service:
Appropriated for 1913...-
Reimbursements .
Unexpended balances ol
permanent appropria-
. 315,412.0
r
8 655 640. 0(
. 24,547. 3f
) 233,950.01
j 19,729.71
) .
J .
. $8, 137. 1(
25,OOO.OC
) .
$5,216.25
1,230,002.08
44,277. 11
13,353.35
Available for use .
Expended .
.. 315, 412. t
. . 298, 190. (
)8 680,187.3
)6 626,541.0
8 253,679. 1\
4 222,883.8
i 8,137.11
4 653. 25
) 25,000.01
2 23,696.25
) 5,216.25
5 .
1,287,632. 54
1,171,964.39
Unexpended balance.
.. 17, 222. (
)2i 53,646.3
4 30,795.8
917,483.8
3 1,303.7^
r i 5,216.25
115,668. 15
i Available for future use, $12,700.13.
PARTING AND REFINING FUND.
The balance in the parting and refining fund, which, prior to
the fiscal year 1913, formed a permanent indefinite appropriation
for the expense of parting and refining bullion, was on June 30, 1913,
$694,804.11. Against this there is a known encumbrance ol $o,000.
The remainder, $691,804.11, is to be covered into the Treasury as a
miscellaneous receipt on June 30, 1914.
The expenses of parting and refining bullion are now paid from our
regular annual appropriations.
CONSOLIDATED INCOME AND EXPENDITURES.
A complete statement of the income and expenditures of the
Treasury on account of the mint service, including seigniorage on
the silver and minor coins, is shown in the statement following.
16 REPORT OF THE DIRECTOR OF THE MINT.
OPERATIONS OF THE MINT SERVICE.
17
DEPOSITS OF GOLD BULLION.
The value of all gold bullion contained in original deposits at the
mints and assay offices during the fiscal year 1913 was $161,131,878.
The redeposits during the year, consisting of bullion transferred from
one office to another, and bars bearing the stamp of one of the mints
or assay offices, amounted to $27,937,471. The value of the gold
bullion and uncurrent domestic and foreign coin received, including
redeposits, amounted to $189,069,349, which was the total of gold
receipts at all offices.
Statements which show the classification of deposits, the source of
domestic bullion by States and Territories, and the receipts at the
several offices of the service appear in tabular form in this volume
elsewhere.
DEPOSITS OF FOREIGN GOLD BULLION AND COIN.
Foreign gold bullion containing 1,547,317 fine ounces, of the value
of $31,985,879, and foreign gold coin containing 132,172 fine ounces,
of the value of $2,732,228, were deposited, and consisted of bullion
and coin produced in the following-named countries:
Crude bullion.
Refined bullion.
Coin.
Country.
Fine
Coining
Fine
Coining
Fine
Coining
ounces.
value.
ounces.
value.
ounces.
value.
51 235
SI, 059, 121
9,802
$202,624
9 545
11, 266
Northwest Territory .
2 620* 382
Ontario and Quebec .
1 i Ul
903
18, 667
Nova Scotia .
Mexico .
26, 388
545, 488
435,281
8,998,057
2, 180
$45,064
ml A
82, 769
148, 474
1,710, 986
3,069, 230
4,817
142
2, 935
Gait tVl A YYlAV*if*Q
5,573
115, 204
DOuin iv in lulu .
233
West Indies .
664,570
13,737,881
206
4,258
280
5, i 88
10
206
Q ilVi A fvioo
356
7,359
21
434
5,954
123, 079
1,119
23,130
27
558
24,661
509, 788
20
413
14
289
199
4, 113
1,893,683
91,607
36
744
123
2,542
Total .
437, 664
1
9,047,316
1,109,653
22,938,562
132, 172
2, 732, 228
DEPOSITS AND PURCHASES OF SILVER.
The deposits of silver at the mints and assay ofiices during the
fiscal year ended June 30, 1013, for return to depositors in fine or
unparted bars, with the weight and fineness stamped thereon, aggre¬
gated 2,238,284.41 fine ounces. The United States assay office at
New York received the greater part of these deposits.
The Government of the Philippine Islands deposited at the United
States mint at San Francisco silver coins issued under the act of
March 2, 1903, containing 342,054 fine ounces, for recoinage into
coins of reduced weight and fineness as authorized by the act of June
23, 1906.
24950°— 14 - 2
18
REPORT OF THE DIRECTOR OF THE MIiSfT
The purchases and deposits of silver bullion at the mints and assay
offices of the United States during the fiscal year 1913 were as follows:
Items,
Fine ounces.
Cost.
Commercial bars purchased .
1,287,791.07
488,652.62
1,764.56
1, 7S4. 74
2,238,284. 41
342,053.53
$787,041. 00
297, 166. 13
1,072. 2S
1,06S. 46
1,35S,S45. 79
335,381.41
Unrefined deposits, partings, charges, and fractions .
Mutilated and uncurrent coins .
Assay coins and surplus bullion .
For return of fine bars .
Philippine coins transferred for recoinage .
Total .
4, 360, 33a 93
2,780,575.07
DEPOSITS OF FOREIGN SILVER BULLION AND COIN.
Foreign silver bullion containing 624,215 fine ounces and foreign
silver coin containing 1 < ,010 fine ounces were received from various
countries as follows:
Country of origin.
Crude
bullion.
Refined
bullion.
Coin.
British Columbia .
Fine ozs.
13,090
129
25,141
65
364,005
75
81,944
133,652
117
12
Fine ozs.
Fin* ozs.
Northwest Territory .
Ontario and Quebec .
Nova Scotia .
Mexico .
n . . I"
Central America .
5,985
.
South America .
China . .
.
. 3,550
South Africa .
Spain . . . . .
^ mtr* . . . .
Total .
. i,523
11,937
618,230
5,985
17,010
COINAGE.
The domestic coinage during the fkrul imo , .
186,626,871 pieces of the value of $37,496,529.70, ^ fo^r^
to
Denomination.
■ . _ _
Philadelphia. San Francisco
Pieces.
Value.
Pieces.
Value,
Gold:
Double eagles .
176,091
743,050
1.340,099
810, 165
*3,521.820.00
7,430,500.00
6,700,495.00
2,025,412.50
Eagles . .
Half eagles . .
66,000
800,000
*060.000.00
4,000,000.00
vi uar in eagles. . .
Total gold .
Silver:
3.069,405
19,678,227.50
866,000
4,660,00a00
Halt dollars .
Quarter dollars . . .
1.074,235
1. 104.235
3.730.235
537,117.50
1,026,058. 75
373,023.50
708.000
40,000
4SO.OOO
354,000.00
10.000.00
48,000.00
Total silver .
Minor:
5-cant nickels .
1-cent bronze . . —
. . . .
Total minor
8.908,705
1.936, 199.75
1,228.000
412,000.00
43,727,371
95,748,390
2, 186,368.55
957,483.90
2,852,000
6. 104.000
142,600.00
61,040. 00
Total coinage
139.475,761
151,453,871
3,143,852.45
24.75S.279.70
8.956,000
11.050,000 :
203. 640. 00
5,275,640.00
OPERATIONS OF THE MINT SERVICE
19
Denomination.
Gold:
Double eagles . .
Eagles .
Half eagles....
Quarter eagles.
Total gold.
Silver:
Half dollars ....
Quarter dollars.
Dimes .
Total silver .
Minor:
5-cent nickels.
1-cent bronze.
Total minor. . .
Total coinage.
Denver.
Pieces.
286,000
286,000
2,200,000
2,200,000
Value.
$5,720,000.00
Total.
Pieces.
5,720,000.00
1,100,000.00
1,100,000.00
10,656,000
10,981,000
21,637,000
24,123,000
532,800.00
109,810.00
642,610.00
7,462,610.00
462,091
809,050
2,140,099
810, 165
4,221,405
3.982.235
4.144.235
4.210.235
12,336,705
57,235,371
112,833,390
170,038,761
186,626,871
Value,
$9,241,820.00
8,090,500.00
10,700,495.00
2,025,412.50
30,058,227.50
1,991,117.50
1,036,058.75
421,023.50
3,448,199.75
2,861,768.55
1,128,333.90
3,990,102.45
37,496,529.70
The approximate amount chopper used in the_above coinages was «W.1« tons^of .^J.539^
were use<
Min altoy tog gold and 9.502 tons in alloying silver, while604.101 tons were used in minor coinage.
In addition to the regular coinage there were manufactured at the
mint at Philadelphia silver coins for the Government of Costa Kica,
as follows:
Denomination.
Pieces.
Value.
Value in
United
States
subsidiary
coin.
Silver con¬
sumed in
coinage.
Silver:
267,783
535,565
Colons.
26, 778.30
26, 778. 25
$21,422.63
21,422.62
Fine ozs.
15, 496. 59
15, 496. 59
803,348
53,556.55
42, 845.25
30,993. 18
For the government of the Philippine Islands the mint at San
Francisco manufactured silver and bronze coins as follows:
Denomination.
Pieces.
Value.
Value in
United
States
subsidiary
coin.
Metal con¬
sumed in
coinage.
Silver:
385,000
743,565
1,510,255
Pesos.
385,000.00
148, 713. 00
151,025. 50
$270, 167. 23
99, 158. 50
104,460.05
Fine ozs.
195, 432. 22
71,728. 78
75,563. 79
2,638,820
5,001,000
684, 738. 50
50,010.00
473,785.78
i 25,005.00
342, 724. 79
n 833, 500. 00
7,639,820
734,748. 50
H98, 790. 78
Walue in United States minor coin. 2 Tro>r ounces.
20
report of the director of the mint.
PURCHASE OF MINOR COINAGE METAL.
There were purchased during the year 14,834,078.26 ounces,
avoirdupois, of minor coinage metals, at a cost of $202,493.32, which
was delivered at the coinage mints as follows:
Metal.
Philadelphia.
San Francisco.
Ounces.
Cost.
Ounces.
Cost.
Copper .
8,753,901.62
$102,573.44
5S3, 333. 33
17,995.83
15,472.91
218, 749. 99
S7, 160.00
632. 42
6S.96
5,893.60
Zinc . .
298. 827. Of)
1,458,397. 49
1.548.92
37,930.66
Nickel .
Total .
10,511,126.20
142,053.02
835,552.06
13,754.98
Metal.
Denver.
Total.
Ounces.
Cost.
Ounces.
Cost.
Copper .
2,916, 754. 16
45, 135. 42
88,010. 42
437,500.00
$32, 750. 91
1,566. 38
512.99
11,855. 04
12.253,989.11
63,131.25
402,310.42
2.114,647. 48
$142,484.35
2,198.80
2. 130. 87
55.679.30
Tin .
Zinc .
Nickel .
Total .
3,487,400.00
46,685. 32
14,834,078.26
202,493.32
D1^}}110f coinage metals were purchased, during the fiscal year, for
uiippme coinage for delivery at San Francisco Mint:
Metal.
Ounces.
Cost.
Copper .
Tin . .
874,708.33
29.895.83
30.245.83
$10,076.64
1,048.37
134.60
Total .
934,849.99
11,259. 61
I URCHASE OF MINOR COINAGE BLANKS.
mid blS TfS Vm'jTs?0 499-40 pouuds of Prcpar^
bronze blanks at » wt of Tl t3,?8'79 polmds "'.J"*?1
Mint. * ®^'3.76, for delivery at the Philadelphia
distribution of minor coins.
mi ^UIJNo.
expeii^C^tribuSon^hfoh5 4-ributed was $4,139,066.40, and the
tags, were $24,992.9^ as fQHow^m^ COs^ °t bags, twine, seals, and
Denomination.
5-cenl nickels. . . - - - - -
From Phil¬
adelphia.
From San
Francisco.
From
Denver.
Total.
1-cent bronze .
Total distribution. .
*2.433,954.25
878, 427. 42
$77,152.90
53,967.24
$557, 146. 75
138.417. 84
$3,068,253.90
1,070,812.50
SS::::::; .
Dray age . . . .
Total . .
3,312,381. 67
131, 120. 14
695, 564. 59
4,139,066.40
8, 739. 56
3,370. 20
465.00
12,574.76
254*70
254. 70
11,390.79
754. 70
. is’oo*
12, 163. 49
20.130.35
4,379.60
465.00
18.00
24,992-95
OPERATIONS OF THE MINT SERVICE.
Minor coinage issued, melted, and amount outstanding .
21
Denomination.
Coined.
Issued.
On hand.
Melted.
Outstanding,
Juno 30, 1913.
Philadelphia:
$l,502,SS7.44
39,926.11
2,007,720.00
21,339,295.73
912,020.00
941,349.48
38,102,724.60
$1,562,887.44
39, 926. 1 1
2, 007, 720. Oft
21,187,221.33
912,020.00
941,349.48
37,239,048.95
$380,887.22
$1,182,000.22
39,920.11
1,203, 543. 50
20,732,304.73
571,020.08
667,801.53
33,853,980.45
Copper half cents .
Copper-nickel cents .
Bronze 1-cent pieces .
Bronze 2-oent pieces .
Nickel 3-cent pieces .
Nickel 5-cent pieces .
$152,074. 40
863,675.65
804, 176. 44
454,916.60
340,39:1. 32
283,847.95
3,385,059. 50
Total .
64,905,923.36
63,890,173.31
1,015,750.05
5,049,281.0:1
58,240,892.28
San Francisco:
Nickel 5-cent pieces .
Bronze 1-cent pieces .
Total . * .
142, 600. 00
219,020.00
77,152.90
198,433. 34
65,447.10
20,586.66
77,152.90
198,433.34
361,620.00
275,580.24
86,033. 76
275,586.24
Denver:
Nickel 5-cent pieces .
1-cent nieces .
765,600.00
254,540.00
575,747.25
234,448.34
1K9,S52. 75
20,091.66
31,700.00
1,400.00
544,047.25
233,048.34
L#I UULv ^
Tfifnl . . . .
1.020,140.00
810,195.59
20J,044.41
33,100.00
777,095.59
C.rand total .
60,287,883.30
64,975,955.14
1,311,728.22
5,682,381.03
59,293,574.11
" The uncurrent minor coins melted at the mint at Denver are not
necessarily of the former roinnjro of that particular nin l.
PHILIPPINE COINAGE.
Government:
Denomination.
Silver:
Pesos .
20 centavos .
10 centavos .
Total silver
Bronze: 1 centavo. . . .
Total coinage . .
Pieces.
385,000
743,565
1.M0.256
7,039,820
Consumed in
coinage.
Fine ounces.
195,432.22
71.728.78
75.503.79
342,724.79
Troy ounces.
833,500.00
- . i on ion from coins received from
SlgffitaSiS «il frnn* 1 bullion purchased for such
Philippine
coinage was as follows.
Denomination.
Pesos .
50 centavos..
20 centavos .
10 centavos .
Coined from new bull ion.
1 acts of Mar. 2, 1903, and
June 23, 1900.
Pieces.
93,445
3,342,120
3,000,152
6,077,392
Fine ounces .
48,008. 11
S05.870.13
353,600.3ft
293,082.21
Coined from Philippine
coin received for nM-oin-
age, act of June 23, 1900.
Pieces.
42,915,059
2 136,000
4,014,324
5,565,255
Fine ounces
22,124,705.00
, 634,382. 25
411,240.02
289,171.75
Total.
Pieces.
43,008,504
5,478,120
7,080,470
11,042,047
Fine ounces.
22,172,773.11
1,340,252.38
704,840.38
582,253. 90
24,800,119.83
of coins reserved for assay.
22
keport of the director of the mint.
WORK OF THE GOVERNMENT REFINERIES.
Bullion was operated upon by the refineries connected with the
mints at San Francisco and Denver and the assay office at New
York, during the fiscal year 1913, as follows:
Institution.
Sent to refinery.
Returned from refinery.
Gold.
Silver.
Gold.
Silver.
San Francisco .
Denver .
New York .
Total .
Fine ozs.
858,064.252
1,711,570.548
4,154,529.661
Fine ozs.
246,614.33
1,276,551.06
3,254,406.01
Fine ozs.
858,338. 613
1,711,490. 168
4,153,866.791
Fine ozs.
249,741.00
1,276,917.20
3,251,928.48
6,724,164.461
4,777,571.40
6,723,695.572
4,778,586.68
Inst itution.
Apparent gain.
Apparent loss.
Gold.
Silver.
Gold.
Silver.
San Francisco .
Denver .
Fine ozs.
274. 361
Fine ozs.
3, 126. 67
366. 14
Fine ozs.
80.380
Fine ozs.
ew i ora ....
662. 870
2,477.53
Total .
274.361
3,492.81
743. 250
2,477.53
to the assay office u 't*N e w* York ' ** suspell<^ed at the Philadelphia Mint, and the equipment was removed
upon which charges were collected ana bullion owned by the Government.
Institution.
San Francisco
Denver..
New York.’’’
Total
Bullion upon
lor parting w
which charges
ere collected.
Bullion owned by the Gov¬
ernment retained bv the
refinery for parting' pur¬
poses on which no
charges were imposed.
Total.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
Fine ozs.
329,098.180
1,244,893.041
1,505,399. 972
3,079 iqo
Fine ozs.
163,097.80
„ 604,263.81
2,678.434.26
Fine ozs.
528,966.072
„ 466,677.507
2,649,129.689
Fine ozs.
183,516.53
672,553.39
575, 971. 75
Fine ozs.
858,064. 252
1,711, 5^0. 548
4,154,529. 661
Fine ozs.
246,614.33
1.276,917.20
3,254,406.01
3,445,795.87
3,644,773.268
1,432,041.67
6,724,164.461
4,777,937.54
Institution. Electrolyticcopper.
BY-PRODUCTS OP REFINERIES.
^Francisco... , ftg*;
New York” . 477.50
Value.
*518.82
506.93
Sponge platinum.
Ounces.
205.74
, 58.20
1,403.00
Value.
*895.99
2,328.00
<>9. 712. 09
Sponge palladium.
Osmiridium.
Total.
Ounces.
io.’is’
18. 10
Value.
”*406.’ (X)’
760.20
Ounces.
0.35
Value.
$1,400
lit*1
|
28.25
1,166.20
.35
1,400
65,140.03
OPERATIONS OP THE MINT SERVICE,
23
EXCHANGE OF FINE GOLD BARS FOR GOLD COIN AND GOLD BULLION.
The value of the fine gold bars exchanged for gold coin and bullion,
monthly, by the United States Mint at Philadelphia and assay office
at New York for the fiscal year 1913 was as follows:
Exchanged for gold coin.
Exchanged for gold bullion.
Philadelphia.
New York.
Total.
Philadel¬
phia.
New York.
Total.
. $467,957.42
. 561,170.19
. 725,096.19
520,822.18
394,968.02
. 222,681.10
$5,782,225.55
2,436,562.36
2,683,562. 01
3,532,890.69
2,571,164.94
2,241,919.53
$6,250, 182.97
2,997,732.55
3, 408,658. 20
4,059,712. 87
2,966, 132.96
2,464,600.63
$17,516.26
17,695.12
16,824.24
20,084.60
22,303.26
16,634.05
$361,557.89
341,450.79
298,684.26
377,788.37
397,780.42
302,556.61
$379,074. 15
359, 145.91
315,508.50
397, 872.97
420,083. 68
319, 190. 66
426,712.71
. 452,701.21
454,310.25
512,808.86
494,452.61
456,361.39
2,618,265.87
3,435, 186. 24
15,666,340.55
2,935,730. 49
14,699,297.30
2,822,345. 19
3,044,978.58
3,887,887.45
16, 120,650.80
3,448,539.35
15,193,749.91
3,278,706. 58
20,621.25
20,452. 30
15,951.96
22,034.32
21,756.60
22, 181. 67
329,060.95
246.888.77
314,913.71
313,685.51
311.488. 78
278,772.59
349,682.20
267,341.07
330, 865.67
335,719.83
333,245.38
300,954.26
. 5,696,042.13
61,425,490. 72
67, 121,532.85
234,055.63
3,874,628.65
4,108,684.28
Months.
1912
July .
September.
October.
November.
December. .
1913
January. .
February .
March
April .
May .
June .
Total.
MINT OF THE UNITED STATES AT PHILADELPHIA.
This mint was in operation throughout the year.
PROOF COINS AND MEDALS.
The following table shows the number of proof coins and medals
and their nominal value manufactured during the fiscal year:
Articles.
Pieces.
Nominal
value.
164
$7,375.20
Silver mptliils . .
574
1,384. 70
B ronze meda Is . . . . . . . .
7,751
3,463.49
rinlH nrnnf i>nins . . . . . . . . . .
340
2,860.00
780
221.00
4,012
120. 36
13,621
15,424.75
THE STATE OF THE NUMISMATIC COLLECTION.
Although for the fiscal year just past the numismatic collection
has not had the usual small appropriation for the purchase of his¬
torical coins and medals, yet the increase of the number of specimens
in the collection has not fallen much short of the normal aggregate
of accessions in late years. And if the cost and historical value of
the coins acquired tiie past year be taken into consideration the
cabinet has fared unusually well. 1 . .
These favorable results in a year that opened so mauspiciously are
directly due to the action of the officials of the Treasury Department
in placing with the cashier of the mint a considerable number of gold
coins which commanded a premium among collectors. The most ot
24 report of the director of the mint.
these pieces were disposed of ami the premium received used for the pur-
chaseof coins and medals. A few of the eagles are still m hand. Per¬
sons interested in the welfare of the cabinet of corns, ami there are many
who are interested in it, will feel grateful to the officials who made
this continued growth possible by a wise use of a number of coins
which eventually would have slowly dribbled into private possession
ftt ^caus^of no little gratification has been the sale of the large
catalogue of the collection published in 1912. Numismatic publica¬
tions are of such narrow appeal that the sale of even the customary
small editions is generally very slow. The ready exhaustion, there¬
fore, of the first edition of this unpretentious catalogue followed by
the sale of nearly all of the second edition is more than was expected.
There has been prepared during the past year a small guide book
for the collection, a pamphlet of little more than a hundred pages.
This guide is sold at 10 cents, prepared with a view of meeting the
demands of visitors as their desires have been ascertained by the
interest they manifested and the questions they asked. The guide
can be mailed for 2 cents postage.
MACHINE SHOP.
In addition to the regular repairs and upkeep of the machinery and
appliances, the following new work was done for this mint: 4 tumbling
barrels of washing machine; 3 scrap cutters; metal work of 2 coin¬
reviewing machines^ 5 sets of old-style nickel molds; 1 six-foot bal¬
ance for transfer weigh room; 2 twenty-five horsepower rolling mills
changed to fifty horsepower; 1 six-inch lever shear; 4 beds and
punches for cutting 6 bronze planchets; 4 beds and punches for cut¬
ting 5 nickel planchets; 2 centrifugal coin-drying macliines installed
m minor coinage plant; 8 collars for dime coinage; 588 collars for
me el coinage; 103 collars for bronze coinage; 4 sectional collars for
e<tg e coinage, and 2 sectional collars for double-eagle coinage. There
ivinrf cl “ automatic weighing machines under construction in the
rlnHnfr'+i Per cerd °f the work on which is completed.
for the varimiSan*e + >en<j^ following work was done in the shops
at- various mints and assay offices:
automatic ^ ^at.es at San Francisco, Cal. : Special screws for
for bronze coin-io-i’ uiac^u,}.e! 30 collars for nickei coinage ; 10 collars
Mint nf tiJ tt u i rt, ars lor 1 hilippme coinage,
coinage; 30 hollars' fo/nfelfl .Denver> Colo-: 12 collars for bronze
tools for milling non , .nu k<d C01nage ; 1 set of double-eagle dressing
edges for autonmtS ^ v 25 cenber-kiiife edges and 50 end-knife
matic weighing rmeh?1^ machmes ; 20 beams complete for auto-
machines ;b25 basket bnT’ f 5 basket traps for automatic weighing
weOdng maStWeighing
machine; /paho? lL*®06 a1t.New. York, N. Y.: 1 bullion-clipping
disks for Smithsonian In ^.^T.hngs for vertical rolling mill; 8 silver
vey; and 22 silve?dkK ^S*10115 30 silver disks for Geological Sur-
1 k for Bureau of Engraving and Printing.
OPERATIONS OP THE MINT SERVICE.
25
There have been designed and built 4 rotary ball-bearing turntables
and 44 ingot molds. The turntables are made up of 2 six-foot cast-
iron disks. The bottom disk is the ball race, which carries 146 one-
inch diameter hardened steel balls. The top disk has a cone which
fits the bottom race. On the top disk are moimted 11 ingot molds
equally spaced on a four-foot six-inch circle in an upright position.
The molds will produce either a nickel or bronze ingot 24 inches long,
41 inches wide, three-quarters of an inch thick. The back half, or,
in other words, the plain part of the mold, is bolted fast to the table,
and the half that carries the ingot swings down to an angle of 45 on
two trunnion bearings which are bolted to the table. The locking
device for clamping the mold while the ingot is being poured is four
links connected to the stationary part of the mold with a loose bolt.
The other end of the link carries two eccentric pressure bars which
clamp on three lugs equally spaced on the mold. The one end io
each link carries an eccentric bushing w uch can be adjusted to take
up any expansion or contraction. Tlus principle eliminates all
handling and lifting of the mold.
CARPENTER SHOP.
Besides the general repairs and upkeep of the machinery and
appliances, the following work was done by the chief carpenter ar d
toTheSiStarnord.nSfc applied to the roof to stop leaks would not
adhere to the glazed tiles and formed regular water pockets. This
was all removed, the roof painted and covered with painted muslir ,
and the ioinfe filled up with plastic cement, winch proved very satis-
TVia qame method was applied as new leaks appeared.
fKui wntflarin “mo.ritore were built on the northwest terrace
J'^fevenmatioii
w“erraS”e"d ly falling stone when the building was struck by
S^^MnewdcohwieTiewing machines
tant improvements made on them. Ihe same impro
made on the six older machines. ^ boards, of the following
One counting hopper and eleven comtmg^^ ^ gt Louis> Mo .
denominations, were made > J , two dime boards, two quarter-
Two 1-cent hoards, two 5-cent boards mom 1_dolla’r boar(i. All
dollar boards, two half-doUar boards an l 1 department,
patterns for new machinery, etc., were maoc p
26
report of the director of the mint.
SEWING ROOM.
The sewm* room, besides making the necessary repairs to flags,
awnings, window shades, rugs, machine belts, etc., manufactured for
this mint 957 pairs asbestos mitts; 1,496 pairs fire mitts; 5,222
aprons, sleeves, and miscellaneous articles, and 122,450 coin bags
received from contractor wore marked.
There were also manufactured for the JNew lork assay office 656
pail’s canvas mitts, 194 pairs asbestos mitts, and 22,500 anode bags.
For the mint at San Francisco, 206 pairs fire mitts, 118 pairs
asbestos mitts.
For the assay office at Deadwood, 4 pairs asbestos nntts.
For the assay office at Boise, 12 pairs asbestos mitts.
For the assay office at Helena, 12 pairs asbestos mitts.
ASSAYING DEPARTMENT.
The operations of this department during the fiscal year 1913 were
as follows: -
Item.
Samples operated on.
Gold.
Silver.
Gold and
silver.
Deposits .
3,859
660
12
664
325
Ingots . .
Bullion assay samples ... .
225
Superintendent's grain bars .
Assayer’s bars . .
Welter's bars . .
. •*
79
41
45
Sweep samples .... .
Silver-purchase bars . . .
Total .
27
376
793
4, 531
ysy
The number of assays made was as follows:
Deposits and purchases ....
Ingots (cold and silver) .
Oil tests .
39,920
3,486
2,724
529
392
23
^47,074
Total .
In adffit ion^oTh AP« I, during Ike year was $0,469.
of proof silver were made ^ 4°° 0unces of Proof 8old and 300 ounces
department ^ made in the melting and refining
Of the 325 melts of silv ur.ne<V°r remelting and 1 was condemned.
30 melts at
116 melts at
174 melts at
171 melts at
64 melts at
3 melts at
569
was:
. 900.2
. 900.1
. 900.0
. 899. 9
. 899.8
. 899.7
■ . 899.6
The fineness of the silver melts passed was:
7meltsat... .. S99.<5
43 melts at... ... 899.5
47 melts at . . . . 899.25
109 melts at... .. 899.
52 melts at.... . .. 898.75
41 melts at. . .898.5
14 melts at... . .. 898.25
11 melts at . _ 89S
324
OPERATIONS OF THE MINT SERVICE.
MELTING AND REFINING DEPARTMENT.
27
During the fiscal year 660 gold-ingot melts were made, making a
total charge to the melting pot of 2,066,745.994 fine ounces. There
was 1 melt condemned. Out of this quantity of bullion melted,
the loss found at settlement amounted to 26.421 fine ounces, or 1.27
per cent of legal allowance based on actual charge.
It has been the custom here for years past to make gold-ingot melts
to the full capacity of the No. 70 crucible, which amounts to approxi¬
mately 6,000 ounces gross of standard metal. We find, however, if
our basis of coinage metal is not electrolytic gold but uncurrent coin,
and fine gold lower in fineness than 998, that, owing to impurities,
segregation troubles this department greatly on these large melts,
and great difficulty is experienced in getting an ingot melt of uniform
composition. In order not to reduce our melting capacity or increase
labor, we decided to melt the same amount of metal per pot, but stir
the charge twice, treating it as two melts. In other words, when full
•jot is ready for dipping, use plunger 100 strokes and dip half out of
oot, giving" this halt a number; then again using plunger on second
half 100 times and giving this second half of the melt a number. In
this way a smaller volume is expected to be uniform and is more
easily mixed, and results prove the benefit of this method in reducing
the ounces reinelted.
In silver there were 325 melts made, none condemned, making a
total charge to melting pots of 1,013,263.95 fine ounces. Upon
settlement of the accounts of this department a gain in silver of
355.46 ounces was found, which in no way removes the fact that a
loss of 87 ounces in melting was suffered.
During the fiscal year this department received from the superin¬
tendent bullion containing 1,993,067.302 fine ounces in gold, the
coinage value being $41,200,357.57. The silver contents of bullion
received contained 1,818,499.04 fine ounces, of the coinage value of
$2,513,909.14.
The melts made aggregate as follows:
Melts.
Bars.
Ingots.
Re melts.
Con¬
demned.
Good ingots.
Onlri .
23
34
640
280
3,519
4,123
86
I
1
Ounces.
1,935,752.905
986, 410. 35
11,978, 490. 60
12, 127, 186.30
57
8,562
87
1
27,027,840. 155
28
REPORT OF THE DIRECTOR OF THE Mils T.
During a nine days’ run, including overtime to 10 p.m., fiom March
20 to 29, inclusive, working three gangs of men, 10 sets of molds,
12 and 13 furnaces, 12 men to gang, the results in meltmg cupro
nickel were as follows:
♦ “ ■
Number of—
Weight of in¬
Date.
Melts.
Ingots.
gots made.
Mar. 20 .
61
2,829
Ounces.
192, 150.60
. .
61
2,810
190,680.40
. .
61
2,837
192,387.30
. .
61
2,843
192, 701. 50
25 .
61
2, 835
2,611
192,386.50
26 .
56
176,120.00
27 . .
64
2,918
197, 108. 60
28 .
59
2, 777
187,710.60
29 .
64
2,925
197,192.40
Total .
548
25,385
1,718,446.90
Daily average , . .
60.9
2,820.5
190,938.54
The total amount of ingots poured (25,385) in this time amounts
to the large weight of 59 tons.
Sweeps cellar operations.
Departments.
Kind treated.
Number
barrels.
Gold.
Silver.
Bronze.
Cupro
nickel.
Recoveries:
M elting and refining .
Superintendents... .
Coming .
f Gold and silver .
40
Ounces .
81.382
Ounces .
295.58
Ounces .
Ounces.
(Minor coin metal .
15, 822. 55
31,261.70
Gold and silver .
12
6
68
56. 298
18. 368
189. 458
80.83
52.64
636. 69
. do .
United States assay
office, New York.
Total .
126
345.506
1,065. 14
15,822.55
31,261.70
In treating the broken crucibles, burned out refractories, and
drosses from the minor coinage melting operations, the larger mate¬
rial is put through the crusher, then it is fed, together with the smaller
refuse, into the Ellspass mill and crushed in the wet wav The more
or less large pellets remaining upon the pan of the mill are saved : the
resulting line material, or tailings, is thrown away
The value of the nfetals saved by thus treatmg these waste mate¬
rials was upward of $800. The cost to recover same in labor power
and mauitenance was not half this amount. ’ p '
Since the refinery operations have been discontinued here and the
bulk of the old equipment sent to New York, we have found iArlS
to our advantage to separate the precious-metal operations from that
of the muior coinage metals by usuig for gold and silver °m tnaT
tlio furnaces left vacant by the closing of our refinerv fe0mPurP9fes
furnaces are connected to a settling chamber, and this ro k6?0 ”V°
removed from our regular melting room, and beino- nf°m bemg /ar
gives convenient facilities for handling this branch of amP ° s‘ze>
without any risk of contaminating the precious metals m®0t makiug
C b D
o c
<D
<D
tin
o .
Q. CO
Q. 0
to "O
• c
it= CO
<D -C
« l.
bD <U
.sS
CD —
JQ -C
tfs
Q. CO
0 CO
sS
II
o
<D O
jc a>
bo
to c
E ti
o.£
r s
<d
<o
f—
Ld
CO
<D
cn
<
o
I-
o
O
CL O
CL~
>v
o 0
^ to
0 V*—
£ ^
r- o
.tl
to <D
T3 >
O O
E **
_ -a
n w
*“ Q.
IS
bo-o
c c
to
0 o
.Q O
cO *-
O
co
bfl °
C >»
*i_ <u
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■?!
i is
tr o a
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+-* 1“ CO
W 3^
CO ^ CO
o
OPERATIONS OF THE MINT SERVICE.
29
The first installation of the new large molds on t urntable for bronze-
ingot making has been put m successful operation. This change
enables us to cast a melt of 3,200 ounces into ingots (24 by 4| by f
inches) in four minutes. It is proposed that one turntable, holding 1 1
molds, will serve two furnaces, with two melters pouring together
and three men manipulating molds and ingots, as follows: Two
melters pour simultaneously, table then turned until next mold is in
position for filling; first helper opens up mold and releases ingot,
second helper picks up ingot, conveys it to pickling and cooling tanks,
while third helper removes pellets and slivers and greases, closes, and
clamps mold. As a heat can be taken off this way in 5 minutes, an
actual saving of 10 minutes is effected on each melt, or 50 minutes
in a day’s work per furnace, which can be utilized toward getting
more metal melted. These ingots in bronze weigh 23 pounds, or
about six times what our small ingot weighs, making 10 to a heat, in
place of 60 of the smaller ingots. The filing is slightly heavier than
on the small ingots, but in linear measure is 40 feet, as against 120.
The topping is done on heavy shears made in mint machine shop and
placed in position on melting-room floor this fiscal year. This largo
shearing machine is a valuable acquisition, for it is no little trouble
to top the large ingots and shear copper bars and zinc slabs to any size
desired. Four such turntables are soon to be put in place on melting-
room floor; these will serve the present coinage requirements for large
ingots.
This department has been on the lookout for an oil-burning fur¬
nace for the past two years, and this fiscal year tested four different
makes, with a view of recommending the equipment that together
showed low fuel cost per 1,000 pounds of metal melted with prac¬
tical and suitable furnace details for our special requirements. The
results of our tests showed a wide variation in fuel consumption,
running from $4.77 per 1,000 pounds of cupro nickel melted up to
$10. This is based on oil at 9 cents per gallon, an extremely high
price, but the cost to us at this time in 6-barrel lots.
The furnace showing lowest oil consumption per 1,000 pounds o 1
metal melted was of the pit type, and upon our melting-room floor
stood too high and rendered dipping extremely difficult. Not one
of these furnaces fulfilled our requirements, and up to date no recom¬
mendation has been made. A modified furnace is still awaiting a
test, which wo hope to run as soon as a little let-up can bo indulged
in. In the meantime, due to poor and inconstant results with pui
present furnaces on account of high price and low quality gasoline,
we made some tests using city gas as fuel. We found that our
present furnaces with but little alteration could bo adapted to tms
illuminating-gas fuel, and by using same show a saving over gasolines
fuel and secure uniform melting periods for our different metals,
which constancy and convenience appealed so strongly to us as to
warrant a recommendation that city gas fuel be usee . ns ucoin
mendation being approved, we are now in the position of bemg pro -
ised a fuel entirely satisfactory, in so far as convenience, ^uffle: ic
heat units, and suitability for our melting-room requiiements are
concerned. On the other hand, oil fuel is cheapei, t & .
of furnace parts is shorter and punishment to melters much greats,
how much cheaper, and if better, when eveiything > 1 ' ■ •
hope to determine next year.
30
REPORT OF THE DIRECTOR OF THE MINT.
Minor coinage metal operations.
During the year the melting and refining department received from the
superintendent minor coin metal .
Delivered prior to settlements:
Cupro nickel . - .
Bronze .
Troy ounces.
11.730.190.90
11.776.770.90
Troy ounces.
27,700,946.72
Delivered at settlement June 14, 1913:
Bronze ingots, small .
Bronze ingots, large .
Bronze grains .
Cupro nickel ingots, small .
Cupro nickel ingots, large .
Cupro nickel residue .
Cupro nickel grains .
Cupro nickel cubes .
Ingot copper .
Silicon copper .
Tin .
Zinc .
23,506,967.80
Troy ounces.
198,359.20
3.360.50
3.830.50
373,926.60
22,962.80
6,274.80
2,501.00
784,758.33
2,243,937.50
720.30
229,551.75
233,482.02
- 4, 103, 665. 30
- 27,610,633.10
Total loss . 90,313.62
First loss, Aug. 23, 1912 . 9,070. 30
Second loss, June 14, 1913 . 81, 243. 32
Receipts and deliveries by the superintendent of the melting and refining department ,
June 30 , 1913,
Minor coinage metal account.
Items.
Gold account.
Silver account.
Nickel.
Bronze.
Receipts:
Settlement metal Juno 30, 1912. . . .
Fine ozs.
216. 460
92,216. 478
1,047, 508. 618
485,439.477
Fine ozs.
1,805.62
157,119. 26
699,320.83
428,219. 48
250,521.98
30,993. 18
2, 59S. 03
Troy ozs.
714, 87S. 53
Troy ozs.
3,309,074. 59
Deposits and purchases .
Clippings
Transfers from New York .
Treasury purchases
Silver purchases by Costa Rica .
Certificate bars .
Fine bars .
Modftl filing inmtQ otn
253,223. 940
69,747. 420
O non
xuv/uai lo? CtC. ...... _ , T ,
Uncurrcnt coin .
Silver purchased for medals. . . .
Coiners, residues, and grain bars. . .
Assavers nronf
2, 575. 982
41,021.811
945. 013
172. 103
3,518. 36
238, 724. 15
1,181.80
3,683. 93
* V>i o pll/vl
Ingot copper .
Silicon copper .
456. 96
4*i6i,666. 66
4*588* 333.* 34
Tin .
Zinc . ]
Clippings .
Nickel cubes .
Uncurrent coin .
.
3, 755. 21
6, 426, 424. 20*
1,448, 333. 33
' *298*827.* 09
6,304,058. 20
Total .
Total minor coinage metal
1,993,067. 302
1,818, 143.58
247, 926. 16
13,002,984.09
197,669.41
14, G97, 962. 63
13,002,984.09
27 700 946 72
Deliveries:
Ingots .
1 71 K 7i e
1,141,898.58
58,664.57
— - - -
* * ) 1 VAjj i/lUi 1 +J
Merchant bars .
A, i 1 o, OOf. t 10
178 01 r.
12, 127,086.30
11,978,490.60
Fine bars .
i <o, l) m». UlO
oo qo i cm
New York transfer .
Clippings .
OZl.
16,354. 81
394,377.08
43,047.54
154,081.84
1,046. 95
4,824.78
230. 93
3,570.50
295. 58
Unparted bullion .
Assayer’s proof .
Medal ingots .
Strips and disks. ...
72, 680. 577
798. 954
1,645. 241
14. 301
Coiners, residues, and grain bars. . .
Sweeps .
Ingot copper .
Silicon copper .
627. 238
81.382
38," 570.' 36*
2, 205, 367.* 14
"229,*55i.*75
233,482.02
Tin . ;;; .
Zinc .
Nickel cubes .
.
720. 30
784, 75S. 33*
OPERATIONS OF THE MINT SERVICE.
31
Receipts and deliveries by the superintendent of the melting and refining department,
June SO, 1913 — Continued.
Items.
Gold account.
Silver account.
Minor coinage metal account.
Nickel.
Bronze.
Deliveries— Continued .
Sweep grains .
Fine ozs .
Fine ozs .
Troy ozs.
2,501.00
6,274.80
Troy ozs.
3,830.50
Residues .
Total .
1,993,003.226
1,818,393. 16
12,959,911.09
14,650, 722. 01
12,959,911.09
Total of minor coinage metal .
27,610,633. 10
Wastage settlement:
Aue 23 1912
37.655
26.421
105.88
June 30, 1913 .
90,313.62
Surplus June 30, 1913, settlement .
64. 076
105.88
355. 46
Ingot room charge .
2,066, 745.994
1,013,263.95
12,907,842.69
12,454,302.73
Total operated upon .
2,066,745.994
1,013,263.95
12,907,842.69
12,454,302.73
12,907,84 2. 69
24,362,145.42
COINING DEPARTMENT.
From July 1, 1912, to August 23, 1912, when settlement was made
with the coiner, whose office was abolished by act of ( ongress an<
in lieu thereof the office of superintendent of the coming department
created, the coiner received from the superintendent and operate
upon 322,233.810 standard ounces of gold, from which there was
produced 205,593.750 standard ounces of coin, of the value ot
000, or 486,000 pieces, which was delivered to the superintendent
during this part of the fiscal year. Prior to this settlemen 1(1
was returned to the superintendent 90,591.912 standard ounces of
gold in clippings, condemned coin, and bars, and there was (
in settlement 26,048.010 standard ounces in com and blanks, ihc
entire operation showed a loss of 5.444 standard ounces, <>
of $101.28, being 3.37 per cent of the legal allowance, flic percent¬
age of coin produced to the amount operated upon was • •
During this same period, from July 1, 1912, to August 23, 1912,
the coiner also received from the superintendent an P
1,229,270.65 standard ounces of silver, from "J** ™P000
duced 502,896.96 standard ounces of com, of the ’ ,
in subsidiarv silver coin, or 3,450,000 pieces. Dnor ’ • . ^
settlement of August 23, 1912, he returned to the supermtende
227,779.57 standard ounces of clippings, condom _ finished inl¬
and delivered at settlement 498,576.76 standard ounces fmuhed,
finished, and condemned coin. Upon the ont in < } hems? 1 41
a wastage of 17.41 standard ounces of the value of $9.^bun|L41
per cent of the legal allowance. The percentage of com producec
to the amount operated upon was 76.02. , , , • ti.p qam0
The coiner also received from the supermte % standard
period, from July.l, 1912, to August 23, 1912 ^59 ^.SO^rlurd
ounces of bronze ingots, of which 2,935, a)o.~ - stand-
operated upon, from which there was produced 1,3- ,
32
REPORT OF THE DIRECTOR OF THE MINT.
ard ounces of 1-cent pieces, of the face value of $132,700, or 13,327,000
pieces, upon which there was a wastage of 874.35 standard ounces of
the value of $10.23, being 29.74 per cent of the legal allowance as
allowed on silver. There was returned to the superintendent prior
to the coiner’s settlement August 23, 1912, 1,058,085.50 standard
ounces in clippings, condemned coin, and blanks, and there was de¬
livered in settlement 673,047.70 standard ounces in ingots, strips,
and condemned coin. The percentage of coin produced to the amount
of metal operated upon was 45.21 .
In addition to the gold and silver received for coinage, the coiner
received from the superintendent 294.422 standard ounces of fine
gold for medals, of winch 47.999 standard ounces were used in the
manufacture of medals. This amount and 167.147 standard ounces
m clippings were delivered to the superintendent prior to settlement,
and 78.970 standard ounces were delivered at settlement. The
coiner also received from the superintendent during the same period
873.27 standard ounces of fine silver. Of this amount 301.77 stand¬
ard a l111003 jVeje use^ the manufacture of medals, which, with
305.04 standard ounces in clippings, were delivered to the superin¬
tendent prior to settlement and 266.41 standard ounces delivered at
settlement. The slight loss in gold and silver is included in the
wastage in the manufacture of gold and silver coin.
The gold, silver, and minor coinage for this period of the fiscal
V?fi8 000 1012, to August 23, 1912, amounted to $4,583,700, or
™ Pleceb- Tlie nefc wastage in coinmg this amount was
Receipts and deliveries by the coiner, July 1 to Avg. 23. 1912.
Items.
Gold
account.
Silver
account.
Nickel
account.
Bronze
account.
Receipts:
Settlement metal of June 30, 1912
Ingots .
Standard ozs.
221.296.330
101, 100. 200
131.702
Standard ozs.
t * 5. 846. 45
453,641.60
655.87
Troy ozs.
Troy ozs.
Ingots, medal ....
3,059,415.80
i otai.... .
Deliveries:
Coin — *
Domestic .
Costa Rica....
322.52S. 232
1.230, 143.92
i .
3,059,415. 80
205,593. 750
502.896.96
64,300.00
229. ~5S. 87
432,297.46
606.81
266. 41
1,327,408.25
Com cl > and bars . . . .
90.591.912
26.043.010
215. 146
78. 970
1,181,596.10
549,537.10
Medals and clippings
Medal metal..
Total
W astage . .
322,522.788
1,230, 126.51
Amount onprate^ 1 i nnn
5. 444
17.41
V) o41 • 4o
874.35
Percentage of coin to amount onerataH
322,528.232
1.230,143.92
3.059,415.80
uoon. peraiea
Percentage of legal allowance for wast¬
age . . ..............
66.83
76.02
45.21
3.37
X. 41
29. 74
received from the superiii^ndSt i°7368l3 080 ^ department
for coinage, which was oner.. * 35,8 13.980 fine ounces of gold
duced 766,899 .SSI 2„T„ »d from which t here was p™-
<>r 2,583.405 pieces, and 96?35Wkh' ^th<rvaluenf *15,853,227,50,
demned coin, Wanks, and eon-
.OPERATIONS OP THE MINT SERVICE.
33
ing this portion of the fiscal year prior to settlement, and there was
delivered in settlement 5,553.256 fino ounces in condemned coin,
blanks, bars, and sweeps. The entire operation showed a wastage
of 8.845 fine ounces, of the value of $182.84. The percentage of com
to the amount of metal operated on was 44.15. The percentage of
the legal allowance was 1.60.
During the same period the coming department also received from
the superintendent for coinage 1,430,828.87 fino ounces of silver, of
which 1,429,555.91 fine ounces wero operated upon, and from which
there was produced 947,255.37 fino ounces of coin, of the value of
$1,310,199.75, or 5,458,705 pieces in subsidiary silver coin, and
30,993.18 fine ounces of silver coin, of the value of $42,845.25 in
United States subsidiary coin, or 803,348 pieces for the Government
of Costa Rica, 451,231.43 ounces in clippings, . condemned com, and
bars were returned to the superintendent prior to settlement and
1,342.20 fine ounces in ingots, condemned coin, and blanks were
delivered at settlement. Upon the entire operation there was a
wastage of 4.64 fine ounces, of the value of $2.84, being 0.43 per cent
of the legal allowance. The percentage of coin produced to the
amount operated upon was 68.43.
There was also delivered to this department during the same period
13,586,385.90 ounces of nickel ingots and 7,283 ounces of Scovill
blanks, from which there was produced from the metal operated upon
7,027,438.50 ounces of 5-cent pieces, of the face value of $2,186,368.55,
or 43,727,371 pieces. Of this amount $154,329.25, or 3,086,585
pieces, were the old design, and $2,032,039.30, or 40,640,786 pieces, of
the new buffalo design, all of which and 6,416,424.20 ounces of clip¬
pings, condemned coin, and blanks were delivered to the superin¬
tendent prior to settlement. There was also delivered at settlement
136,244 ounces in ingots, coin, and blanks. On the entire opera¬
tion there was a wastage of 13,562.20 ounces, of the value of $175.87.
The percentage of the legal allowance, based on the silver allowance,
was 99.76. The percentage of coin produced from amount of metal
operated upon was 51.77.
This department during the same period received 13,353,939.50
ounces of bronze in ingots and blanks, and 19,961.54 ounces in Scovill
blanks, from which there was produced from the metal operated
upon 8,242,710.30 ounces of 1-cent com, of the face value of
$824,783.90, or 82,478,290 pieces. This amount, together with
5,120,527.10 ounces in clippings, condemned coin, and blanks, wero
delivered prior to settlement. The amount returned at settlement
was, ingots 6,632.70 ounces, condemned coin and blanks, 177.60
ounces. The wastage on this operation amounted to 3,853.34
ounces, of the value of $49.97. The percentage of wastage was 28.88.
The percentage of good coin produced to amount operated upon was
67.38.
In addition to the bullion received for coinage, the following shows
the amount used in the manufacture of medals:
Of the 754.574 fine ounces of gold received from the superintendent
286.839 fine ounces wero used in the manufacture of medals, which,
together with 300.836 fino ounces in clippings were delivered prior to
settlement and 167.896 lino ounces returned in settlement.
24950°— 14 - 3
34
REPORT OF THE DIRECTOR OF THE MINT.
^mount of A11® sllver received was 2,167.63 ounces, of which
843.37 tine ounces were used in the manufacture of medals and that
amount, with 1,021.90 tine ounces of clippings, were delivered nrinr
to settlement and 304.41 ounces returned in settlement
silyw collage8*"1 “ g°ld aDd sUver 'S included in the 1°« >n gold and
On this large operation including coin and medals, the wastage
amounted to the very low figure of $411.52. ^
Totai amount of domestic coin for fiscal year ended June 30, 1913.
Items.
Gold .
Silver . .
5-cent nickel . . .
1-cent bronze . . .
Total .
Pieces.
3,069,405
8,908,705
43,727,371
95,748,390
151,453,871
Value.
819,678,227.50
1,936,199.75
2,186,368.55
957,483.90
24,758,279.70
Corta Rka:0n f°“OWing Coin was made ‘he Government of
Items.
10 centimos.
5 centimos . .
Pieces.
Value.
267, 783
535,565
Receipts^ and deliveries by superintendent of coming department,
$21,422. 63
21,422.62
Items.
Receipts:
Settlement metal, June 30, 1912
Medal ingots
Scovill
Total.
Deliveries:
Domestic coin .
Costa Rica coin .
Sweeps88’ condemned and bars’" ."
Coin and "blanks . I .
Medals . .
M^alcUppin^::::"::::;;;;;;;;;
Total.
Wastage....
Amount operated upon
Percentage of com production "i A
„ amount operated UDon Ct 0n to
age6”!*80.?! ,1!8al a"owancV for'w'ast'-
Gold account.
Silver account.
Nickel account
• Bronze account.
Fine ounces.
■ 199, 166. 697
• 1,804,365.450
812. 672
Fine ounces.
698,261.80
1,390,387.23
2,518.14
.
Troy ounces.
1,753,030.50
11, 833,346.40
7, 283.' 66
Troy ounces .
i5, 865, 753. 20
19,961.54
2,004,344.823
2,091, 167.17
13,593,668.90
15,885,714.74
951,934.256
1,399,862.63
30,993.18
656,250.24
52. 04
7,027,438.50
9,570,118.55
1, 045, 883. 722
„ 18.368
5,534.888
297. 481
6,416,424.20
6,304,235.80
843.37
1,872.44
1,272.96
.
9 AA 4 Om ...
12, 849." 20
. 6,632." 70
z, UU4,331. 078
13. 745
2 0A3 let
2,091,146.80
20.31
13,580,106.70
13,562.20
15,880,987.05
4,727.69
*} wo, OoZ. 151
47.51
1.37
- - - —
2, 088, 649. 03
67.02
.97
13,580,819.70
51.77
99.76
15, 879,082.04
60.26
29.77
improvements.
Reference has already been mnrl„ • i
BRONZE CLIPPING, PHILADELPHIA MINT; SIX PIECES CUT AT A STROKE.
OPERATIONS OF THE MINT SERVICE. 35
wo large 16-inch rolls are breaking down and finishing bronze
am] u^g°ts used are 23 inches long, 4£ inches wide
o^nn Ki00"/0 Ul thiS i° a^iiniC^ thick/ A copper mgot will produce
2,200 blanks and the nickel mgot about 1,500 blanks. Two cutting
presses, each running 170 revolutions per minute, are used in cutting
bronze and nickel blanks. When cutting these blanks six pieces o?
the former and five of the latter are punched at each stroke makino-
respectively 1,020 and 850 pieces per minute. Up-to-date cleaning
and annealing machinery, consisting of rotary annealing furnaces
tumblmg barrels, and centrifugal dryers prepare the blanks for
stamping. In addition to the rotary annealing furnaces two strip
annealing furnaces have been added and gas is used to operate these
furnaces. The object of this plant is to keep the workings of the
base metal isolated as much as possible from those of the precious
metals and also to turn out the minor coin more rapidly and at less
expense. Owing to the increasing demand for minor coin we will be
compelled to enlarge this plant in the near future by installing two
additional rolls and more cutting presses. At times we could use
the rolls in our regular rolling room, when not working on gold or
silver, but to do so when working the precious metals would be
defeating the principal object for which this minor-coin plant was
created.
During the past year we have made and placed in operation two
reviewing machines similar to those now in use for reviewing coined
money. These machines, being much faster and more accurate,
will replace the old-style selecting tables.
The only annoying feature we had to contend with during the past
year was a very inferior quality and irregular flow of gas for annealing.
This appears to have been due to a low grade of naphtha and a much
heavier tax on the gas plant. The trouble has been overcome by
installing city gas. We find that, owing to the increased price in
gasoline, we can buy city gas cheaper than we can make our own
supply.
At present the workings are equally balanced, having sufficient
facilities for operating the product of one department with the other
without any delay or annoyance. It will be our aim to keep up this
well-balanced system, thereby reducing the cost of production to
the lowest figure.
All gold and silver now used in the operation of coinage is calculated
at 1,000 fine instead of 900 standard as heretofore. The figures in
the above report from August 23, 1912, are 1,000 fine ounces.
The only blanks now adjusted are the double eagle and eagle; all
other denominations, except dunes and the minor coin, are weighted
after coinage. Five automatic weighing machines are doing this
work.
Our system for keeping the daily records of the metal in operation,
recently introduced, is giving ontire satisfaction. A tabulated
statement of the metal passing from one department to the other
during the day is kept. This shows the amount of finished and
unfinished metal, together with the wastage or loss at the close of
each day’s workings.
36
REPORT OF THE DIRECTOR OF THE MINT.
ENGRAVING DEPARTMENT.
All the dies used in coining operations in all of the mints are made
in the engraving department at Philadelphia. The embossed-
envelope dies used by contractors supplying envelopes for the Post
Office Department and postal savings bank are also made here; also
dies for Army and Navy and other authorized public medals. The
mint is reimbursed for the actual expenditures for labor and materials
on these medal accounts.
The number of dies prepared for United States coinage last year was
2,640. In addition, 175 dies were made for Philippine coinage, 30
for the Post Office Department, 9 for medals, and 36 master dies and
hubs; in all 2,890, as follows:
Gold:
Double eagle . .
Eagle .
Half eagle .
Quarter eagle..
Total .
Silver:
Half dollar. ...
Quarter dollar.
Dime .
Total . .
Minor:
5 cents .
1 cent .
Total .
Philippine:
20 centavos...
10 centavos. . .
1 centavo .
Total .
Denomination.
Philadel- San Fran-
phia. cisco.
Denver.
Total.
10
22
110
50
192
10
10
30
50
56
20
20
96
76
52
160
50
338
15
13
28
20
20
20
60
86
20
20
126
106
55
53
214
830
645
1,475
170
70
240
203
140
343
1,203
855
2,058
45
00
70
45
60
70
175
175
Grand total coinage dies . 2 785
Proof dies . 9 30
Master dies and hubs for coinage . 35
United States embossed -envolope dies (stamp dies) . . 30
Medal dies . . . 9
Total . 2,890
NUMBER OP EMPLOYEES.
The total number of employees in tliis mint at the close of the fiscal
year was 327, distributed in the several departments as follows:
General .
Assayer’s .
Melting and refining.
Coining .
Engraver's .
163
12
47
97
8
Total.
327
VISITORS.
A large number of visitors from all States of the Union and from
foreign countries visited the nunt during the year, 86,278 having been
shown through the building by the several guides
OPERATIONS OF THE MINT SERVICE.
37
MINT OF THE UNITED STATES AT SAN FRANCISCO.
This mint was in operation throughout the fiscal year
MINOR COINAGE.
Minor coins to the amount of $131,120.14 have been distributed
during the year, as follows:
5-cent nickel pieces.
1-cent bronze pieces
Total minor..
$77, 152.90
53,967.24
131, 120. 14
During the above-mentioned period bronze 1 -centavo pieces have
been coined for the Government of the Philippine Islands from new
metal deposited and from old Spanish copper coins received for re¬
coinage, as follows:
Items.
Value
1-centavos, from—
Metal deposited .
Minor coins for recoinage
P135, 233. 00
59,061.12
Total
194,294. 12
SEIGNIORAGE.
The seigniorage on the coinage of purchased metal for the fiscal
year was $417,045.19, as shown by the following table:
Items.
Coined.
Seigniorage.
$412,000. 00
$227,791.87
142, 600.00
136, 129. 75
53, 123. 57
61,040.00
615,640.00
417,045.19
38
report of the director of the mint,
ASSAY DEPARTMENT.
The operations of this department during the fiscal year were as
follows :
Number samples operated on.
Items.
Gold.
Silver.
Total.
Deposits T . _ .
17, 147
457
17,604
Re deposits .. .
424
424
"Exchange bars ... .
46
354
400
Purchase bars . .
198
198
Return bars .
42
3
45
Anode melts .
311
206
517
Mint fine melts .
832
192
1,024
Ingot melts .
640
1,309
1,949
168
Mass melts .
168
Experimental bars .
112
26
138
Bullion assay samples .
35
35
Superintendent’s grain bars .
22
22
Melter and refiner’s settlement bars .
148
30
178
Coiner’s settlement bars .
12
10
22
Assayer’s bars .
24
6
30
Sweeps .
76
76
152
General Land Office samples .
156
154
310
Forest Service samples .
19
19
38
Total .
20,412
2,842
23,254
In addition there were assayed for the General Land Office and
Forest Service six samples for tin, one sample for zinc, one sample
for lead, and eight samples for copper.
Number of assays made and segregated.
Assays.
Gold .
Silver .
Sweeps .
Bureau of the mint..
General Land Office.
Forest Service .
Total .
Cupels made .
Leads cut and rolled . . ’ .*
Parting silver disks made
Number.
Assays.
Number.
52,305
4,739
255
2,090
636
92
Deposits .
46,339
1,462
4,060
3,746
4,510
Purchases .
Ingots . .
Refinery .
Miscellaneous _
Total .
60,117
60,117
. 100,000
. 100,000
ounces.. 5,000
Fine gold determinations.
Fine silver determinations.
Fineness.
Melts.
Fineness.
Melts.
998.3 .
9Qg5 . . * .
1
1
2
3
1
11
12
C
9
6
14
20
4
998.7 . .
998.5 .
i
998.8 . .
998.9 . .
999.0 . .
999.1 . .
999.2 . .
999.3 . .
999.4 . .
999.5 . .
999.6 . .
999.5 . .
47
999.7 . .
Total .
90
Total .
48
OPERATIONS OF THE MINT SERVICE,
Ingot melts.
39
Melts.
Passed
on first
melting.
Re¬
melted.
Con¬
demned.
Total.
Gold ingots .
287
4
291
208
280
54
80
Silver incots . .
180
268
24
4
4
Philippine pesos .
8
Philippine 20-centavos .
54
Philippine 10-centavos .
80
Total .
869
32
12
913
Finenesses of ingot melts.
Domestic coinage.
Philippine coinage.
Gold.
Silver.
Pesos.
20-centavos.
10-centavos.
5 at 899.7
38 at 899.8
113 at 899.9
93 at 900.0
33 at 900. 1
8 at 900. 2
1 at 900. 3
12 at 898.8
50 at 899. 1
43 at 899. 3
77 at 899. 5
9 at 899.8
12 at 900.0
1 at 900. 4
2 at 798.4
2 at 798. 6
16 at 798. 9
15 at 799.0
62 at 799.2
33 at 799. 4
76 at 799. 6
30 at 799. 8
30 at 800.0
6 at 800. 2
1 at 748.2
2 at 748. 5
9 at 748.7
25 at 748.9
12 at 749. 2
5 at 749.6
1 at 748.2
5 at 748. 5
13 at 748.7
16 at 748.9
14 at 749. 2
16 at 749.6
7 at 749.8
8 at 750.0
291
204
272
54
80
The reports covering the workings of the operative departments
for the fiscal year ended June 30, 1913, which follow, show the wast¬
age and surplus for the year. The wastage and surplus so shown
will be a part of the wastage and surplus taken up m the u ion
accounts at such time as the settlement is made.
MELTING AND REFINING DEPARTMENT.
The melter and refiner received, operated upon, and cje^^rej
gold and silver bullion and minor-coinage metal during the hsc
year 1913, as follows:
Items.
Receipts:
Settlement metal —
Of June 30, 1912.
deposits and purchases. . . -
Philippine Islands silver for
Rcfeposit
Clippings
Of Aug. 28, 1912_
recom¬
mits .
r^mgs and coiner’s bars .
Oncurrent coin .
Superintendent’s sweep bar .
M>mer’s sweeps .
f roof gold .
ingot copper .
Zinc .
Nickel shot .
Total.
Gold account.
Fine ozs.
1,271,488.613
1.830,446.382
2,616,774.939
40,111-095
202, 604. 605
522.804
56.512
26.086
96. 750
5,962, 127.786
Silver account.
Nickel account. Bronze account.
Fine ozs.
348,071.43
388,874.17
480,779.46
342,065.59
19,204.17
520.627.87
89.31
46.37
143.59
2,099,901.96
Troy ozs.
229. 454. 80
2i8,749.99
448,204.79
Troy ozs.
559,315. 78
560,397.20
723,261.50
1,458,041.66
47.891.66
45,718.74
3,394,626.54
448, 204.79
Total minor coinage metal . .
40
REPORT OF THE DIRECTOR OF THE MINT.
Items.
Gold account.
Silver account.
Nickel account.
Bronze account.
Deliveries:
Fine ozs.
2, 171,435. 640
10,972.557
217,384. 648
G50.267. 807
1,081.030. 950
972.161
1,830,446.382
Fine ozs.
Troy ozs.
Troy ozs.
141,386. 28
88,328. 76
349.631.24
1,132,007.66
3,747. 81
388,874.17
Ingots. ..... T . . .
687,962. 10
2,260,i50.30
Swwps .
Settlement metal, Aug. 2S, 1912 -
Nickel .
560.397.20
97,408. 71
24,614.60
Clippings .
Copper. .
173,275.50
3,385.44
8,949. 10
10,325.30
5,013.20
Tops and bars .
1,700.70
Tin .
Zinc .
Alloy .
Total .
5.962,510.145
2, 103,975.92
811.6S6.il
3,021,496.04
811,686.11
Total minor coinage metal .
3,833, 1S2. 15
1.081.42
10,730.60
Surplus .
382.359
4,073.96
Wastage .
Amount operated upon:
Refinery .
858,338.613
1. 1<P. 224. 471
249,741.00
1,226,497.28
Ingot room .
714,819.41
2,321,5S3. 31
Total .
1,965,563.084
1, 476.238.2S
714,819.41
2,321,583.31
714,819.41
Total minor coinage metal. .
3,036,402.72
—
COINING DEPARTMENT.
The coiner received gold, silver, nickel, and bronze from and de-
lveied to the superintendent during the fiscal year 1913 as follows:
Receipts and deli v> Ties by the superintendent of the coining department, fiscal year 191$.
Items.
Gold account.
Silver account.
Nickel account.
^Bronze account.
Receipts:
Ingots11611^ mela* °* ^une 30, 1912...
Fine ozs.
55, 181. 178
1| 081, 030. 950
Fine ozs.
105,822.92
1, 132,007.66
Troy ozs.
Troy ozs.
42,711-70
2,260, 150.30
Total
687,962.10
Deliveries:
Coin—
Domestic....
„„ Philippine Islands'.. .
Ingots . .
1,136,212. 128
1,237,830.58
687,962. 10
2,302,S6iOO
225,427.500
202,664.903
851.508
707,278.050
298,072.12
342, 724. 79
521,117.47
12, 196. 47
63,553.67
457,347.58
229,454.80
610, S2S. 3S
833,822.10
731,615. SO
_ Total .
i35, 177.66
1,136,221.961
9.833
1,237,664.52
i(56. 06
686,802.38
. i;i59.82
2,301, 443. 2S
. i ’-iis. 73
428,214.330
52.70
1, 135,638.48
56.13
687,962. 10
66. 47
2, 174, WS. SO
66.64
OPERATIONS OF THE MINT SERVICE.
41
The following table shows the coinage during the fiscal year 1913:
DOMESTIC COINAGE.
Denominations.
Pieces.
Value.
Gold .
866,000
1,228,000
2,852,000
6, 104,000
8,956,000
11,050,000
$4,660,000.00
412,000.00
142,600.00
61,040.00
203,640.00
5,275,640.00
Minor:
5 cents . .
1 cent .
Total minor .
Total domestic coinage .
PHILIPPINE COINAGE.
Silver .
2.638.820
5,001,000
7.639.820
P6S4, 738. 50
50,010.00
734,748.50
Brome .
Total Philippine coinage .
MINT OF THE UNITED STATES AT DENVER.
This mint was in operation during the entire fiscal year, the coin¬
age being of the denominations of double eagles, half dollars, nickels,
and bronze cents.
The particulars as to bullion deposits and coinage will be found in
tables numbered 1 and 3, and in the general coinage statement, num¬
bered 22.
IMPORTANT REFINERY CHANGE.
In the spring of 1913 there was installed in the refinery of this in¬
stitution a novel special induction potential regulator, embodying
the ideas of the foreman of the refinery, Mr. B. P. M irth, wh o was
seconded in perfecting his plans by Mr. White, chief electrician o
the mint. Tne new equipment consists of the following items.
One special induction potential regulator, single-phase,
primary 2,200. secondary potential 36- volt, maximum secondary ( urrent 1,300 amper ,
complete, with all necessary oil. . . . mAlintwi thprcon the
One complete switchboard panel, including wiring, ha\i g
following:
One single-phase, 60-cycle. 2-wire watt-hour meter to mad direct the current
used through the above induction regulator.
One 2,000 to 100 volt potential transformer.
One 2,000-volt series transformer, proper ratio. time-limit attachment.
One Type II automatic oil circuit breaker with inverse time
One low-tension switchboard on which are mounted tlu r
One voltmeter; maximum scale 30 volts.
One ammeter, scale 1,500 amperes.
One series transformer, ratio 1,500 to o. switch
One double-pole, single-throw, l,6(W-ampere time^BW^
series transiormei , icit-iu switch.
One double-pole, single-throw, l,6(X)-amp ei ingle.phase, 60-cycle, complete,
One electrolytic lightning arrester, 2,200 vo t^sing^ F
with oil. eleetroFyte, and horn gaps, for outdoor mou. *
The cost of tho above, delivered at the ’th^ pulsating current
. About the middle of March the general Us , alternating
1,1 the gold cells in the refinery was commenced.
42
report of the director of the mint.
current is delivered through a 39-kilowatt induction regulator, with
200 volts on the primary circuit, and a capacity of 36 volts, 1,300
amperes, on the secondary circuit. A direct-current voltage of 1.2
per cell and an alternating-current voltage (maximum) of 1.8 per cell
is used; current density, 65 amperes per square foot. The electro¬
lyte contains 60 grams of gold per liter, and from 4 to 7 per cent
hydrochloric acid; temperature, 65° C.
NOTABLE BENEFITS.
The benefits of this new system, as applied to the character of
bullion received at this mint, can be best shown by a comparison with
the operations under the former, or direct-current, system. The
refinery has been in operation (in this fiscal year) since October 1,
1912, a period of seven months; the months of October, November,
and December, 1912, and January and February, 1913 (which shall
hereafter be referred to as the “five months’ ’), the refinery operated
under the old system. In March the change was made, and in that
month the refinery was operated under both systems, and in April
the new system was used exclusively; so, in making comparisons,
the month of March will be omitted and the first five months under
the direct-current system used, and the average of those months
compared with the month of April under the pulsating-current
Lndei the old method there could not be “made up” many gold
ano e me ts, because there was not received enough high-grade bul-
r A ° f \)rImt' lt; so> in October, after four months^ shutdown of the
in ’in® GVKe maiH; m November, 9 ; in December, 12 ; in January,
387 Ttt i” imblUary’i.7i; t0t,Il for the months, 63 melts, weighing
of .he ’ WiJe X APnl> without any change in the character
new system 44 gold anode melts were
made'had'they been needld™*68’ aDd “any mOTe could haV6 beeD
cent ohhlhLdTLm„?nhs’; .tho gold anodes amounted to 18.6 per
while durincr the month* of A Ul hon operated upon in the refinery,
per cent of the tote? nn„^ iprU ,he ,g0,d anodes comprised 58.5
to the reduced necp^$iv?nateC uP?n’ The radical difference is due
In the -five mcStS ^6ness of the gold anodes,
fine gold and recover! f 6 were produced 731,669.949 ounces of
therein) 125 821 3 fino n1 ^rom *4® sllmes (and scrap gold contained
in amount 17.19 per ^at the gold in the slimes equaled
In the month of Anril tlm? ^ 16 dne g°ld deposited on the cathodes,
gold and recoverec/fromfl? T™ Produced 224,161.16 ounces of fine
ounces of fine gold so tW ? S!?>es (and scraP g°ld therein) 25,496.89
slimes equaled m amount i month the gold recovered from the
cathodes, and the avenue « Per oent of the gold deposited on the
fi‘^95 plus. ^ fineness of the fine gold under each system
28,184 p„Unjan™;,tl “‘da were usod follows: Hydro-
OPERATIONS OF THE MINT SERVICE.
43
decrease below the average of 4,564 pounds, which would have cost
$422.17, thus making a net saying in acid for April of $312.42.
Further, the cost of operating the refinery for the “five months”
was $23,332.94 (including in each month $414.41 as one-ninth shut¬
down cost), being an average of $4,665.58, and the cost for April
(including said $414.41) was $4,478.38.
Further, the production of fine gold for the “five months” was
731 669.949 ounces, an average of 146,333.989 ounces per month, and
the production of fine gold in April was 224,161.16 ounces, being an
increase over the average of said “five months” of 53 per cent.
Further, in the “five months” there were sent to the refinery 244
silver anode melts, weighing 1,319,761.9 ounces, an average per
month of 263,952.38 ounces, and in the month of April there were
sent 20 silver anode melts, weighing 104,047.6 ounces; and in the
“five months” there were used 139,718.97 ounces of mint fine silver
bars in making up the said silver anode melts, which were absolutely
necessary on account of the comparatively small amount of silver
deposits received at this mint. However in April, no mint fine
silver was used, and also one-half of the silver cells were cut out of
operation.
LOWER GRADES BULLION DIRECTLY THROUGH GOLD CELLS.
The most important benefit derived from the .°P.er^\0/
regulator and transformer lies in the fact that ^^ possible to treat
directly through the gold cells bullion of a much less &™nesJ; ,
than it was possible to so treat with the direct cun ei • + ated
bullion of a less fineness than 900 could not be successfufiy treated
in the gold cells while the reguto buton, mnnng as 1 Pf a„
gold, is successfully treated. Inis taDie ex , , denosits
of the bullion received at this institution, ™ jg ^ March, P1913,
and redeposits, for the months of January , r } >
as follows : Gross
ounces.
. 263,302.87
. 135,901.42
. 77,759.48
. 80,514.79
. 43,757.30
. 24,611.66
. 44,417.23
Below 700 fine .
From 700 to 800 fine....
From 800 to 850 fine....
From 850 to 900 fine. .. .
From 900 to 925 fine. . . .
From 925 to 950 fine. . . .
From 950 to 999 fine. . . .
Total .
.. 070,264.75
that a
runs less
From an examination of this table it wifi^h0 Tg^dtion n.
large percentage of the bullion receive! • ’ „ ms less than that figure,
than 900 in gofd; in fact, 83 per cent of it runs
and but 17 per cent 900 or more. . the refinery have been
The number of silver cells in opera , _ necessary to rely very
[educed one-half. Heretofore it has V of a proper fineness
largely on the output of the silver cel s Ker 0f silver cells now
m gold to use in the gold cells. Th ■ . ts 0f bullion that m ^
operation will just about take car® j t will also be noted ,j
necessarily be put through that syst • - gfiver in the silver <- <-
it is no longer necessary to re-treat muit fine
as was formerly the case.
44
report of the director of the mint.
ANODE MELT OP LOW FINENESS.
The anode melt of the lowest gold fineness treated in April was
No. 125; the make-up of that melt was as follows:
Items.
Gross
Fineness.
weight.
Gold.
Silver.
One bar from the Seattle office .
Ounces.
Q1Q A
Do .
QQ.- CY7
oiy. u
oon o
177. 2
yyo. u/
Ojl 1 o
oZU Z
OOI o
173. 2
One Goldfield Consolidated bar. . . .
evil. 1Z
oeo 7C
881. Z
70A A
115. 0
One Homestake bar from Deadwood office
oOZ. IO
/8U. U
7 no a
116. 2
om a
A, 5HW. 0*7
i Oo* U I
^lo. U
tin?;! ran 804'7 £old>. 171'6 silver- Especial atten-
is directed to the large amount of silver in the melt.
“ N°- 1 this fiscal year, which was treated directly
silver0 6 g° d 06 S t^ou^ °ld system, ran 921.2 gold, 52
ev^resStmn^ and ijf ?Peration has, without doubt, fulfilled in
reduced cost nor ^xPecta^lons- If has increased the output at a
weeks it was in onprnt'6' P more than paid for itsell during the six
p ion, from the middle of March to the 1st of May.
assay department.
as follows: *°nS ^ePartment during the fiscal year 1913 were
Items.
Deposits .
Redeposits...*!*
Exchange bars.
Return bars
Purchase...
Anode melts.".”
Mint fine melts
ingot melts..
Consolidated meits"
.
. .
Com samples..* .
bweep samples .
ronze mgot samples' "
Total .
Gold .
silver.....;;;---
Number of actual .
Melts operated on.
Gold.
Silver.
. 3,094
629
. 1,248
........
50
11
7
1
.
430
*’170
301
197
144
134
Q
328
z
314
4
i95_
. . . .
9
12
••••••••
16
. 45*
4
1
36
7
66
363
44
44
37
37
5,444
2,530
Total.
3,723
1,248
61
8
430
471
341
462
2
509
4
9
12
61
5
43
429
88
74
47
8,027
assays made .
Fores ^Service/./, . -I*////////. . 24 1 . Bronzo and nickel ingots .
There />a ... . . *
were 60,450 cupels made and GO*
Total.
4“Piecesof lead cut and rolled.
OPERATIONS OF THE MINT SERVICE.
45
The reported fineness of the refined gold and silver melts were as
follows:
Determinations .
Gold ingots.
Fineness.
•999.3 .
999.4 .
999.5 .
999.fi .
999.7 .
999.8 .
Total
Melts.
4
31
60
69
31
2
197
Fine silver.
Fineness.
999
999* .
999* .
Total
Melts.
3
65
25
51
144
INGOT FINENESS.
The reported fineness of gold and silver ingot melts were as follows:
Gold ingots.
Fineness.
899.7.. ..
899.8.. ..
899.9.. .,
900.0...,
900.1.. .,
Remelts
Melts.
Total.
2
10
68
44
8
2
134
Silver ingots.
Fineness.
898.6 .
898.7 .
898.8 .
898.9 .
899.0 .
899.1 .
899.2 .
899.3 .
899.4 .
899.5 .
899.6 .
899.7 ....«••
899.8. •••--*
900.0 .
Remelts....
Total
Melts.
4
11
32
26
61
62
61
37
20
5
4
2
2
1
2
330
46
REPORT OF THE DIRECTOR OF THE MINT.
melting and refining department.
The superintendent of the melting and refining department re¬
ceived from and delivered to the superintendent of the mint during
the fiscal year 1913 the following:
Items.
Gold account.
Silver account.
Nickel account.
Bronze account.
Receipts: ,
Settlement metal of June 30, 1912. . .
Deposits. .
Fine ozs.
685,562.345
1,011,753.840
756,106.785
109,758. 537
41,468.490
Fine ozs.
299,808.59
971,077.03
271,969.72
310,087.03
112,046.12
Troy ozs.
999,877.33
Troy ozs.
18,414.06
Conclemned coin and blanks .
778,596. 10
53,131.10
96,184.12
1,458,420.83
348,377.30
12,035. 10
13,432.20
1,458,333.33
45,135.42
88,010.42
Zinc .
Cube nickel .
437,500.00
Total .
2,604,649.997
1,964,988.49
3,823,709.48
1,983,737.83
Deliveries:
Gold certificate bars
778,131.650
Commercial bars .
3,793. 70
1,195,346.13
446. 66
766,434.30
Ingots .
Sweeps . .
733,234. 437
130.040
1,093,127.342
2,473,734.50
1,498,447.70
Settlement metal ol June 30, 1913...
Total .
Surplus .
1,338,565. 18
477,123.23
2,604,623. 469
1,966,020.79
3,812,299.68
1,975,570.93
1,032.30
Wastage .
26. 528
ii,409.80
8,166.90
Amount operated upon .
2,464,865.743
2,511,259.54
2,485,144.30
1,506,614.60
The refinery also returned 477.5 pounds copper, 58.2 Troy ounces
platinum, and 10.15 Troy ounces palladium.
The refinery earnings were as follows:
Charges collected on bullion treated . $71, 995. 43
By-products as above itemized (approximated . 7.7.7.’ J V J - 3> 24°* 93
Total . 75,236^36
Melts made .
Item.
Gold.
Silver.
Total.
Deposits .
Anodes . . .
Cathodes . .
Ingots . . .
Fine bars . .
Slimes . .
.
.
4,623
170
28
134
197
920
306
19
328
144
5,543
476
47
462
341
486
Sweats . .
N ickel ingots .
Bronze ingots . .
Miscellaneous . .
.................
61
534
729
378
9
Total .
9,066
**“ Ingot mote MM, 2 „„ , ^
COINING DEPARTMENT.
OPERATIONS OF THE MINT SERVICE.
47
dollars), valued at $1,100,000; 2,547,803.10 Troy ounces nickel pro-
during 1,712,782.80 ounces coin, valued at -1532,800; 1,458 708.6
ounces bronze, producing 1,097,837.7 ounces coin, valued at $109,810.
Receipts and deliveries by the superintendent of the coining department.
Item.
Gold.
Silver.
Nickel.
Bronze.
Receipts: Ingots .
Deliveries:
Coin .
Clippings, etc .
Total .
Wastage .
Total .
Amount operated upon .
Percentage of good coin produced to
amount operated upon .
Fine ounces.
733,234.437
Fine ounces.
1,326,873.75
Troy ounces.
2,577,803.50
Troy ounces.
1,626,255.70
276,705.000
456,527.735
795,509.14
530,973.81
1,712,782.80
861,727.60
1,097,837.70
527,959.50
733,232.735
1.702
1,326,482.95
390.80
2,574,510.40
3,293. 10
1,625,797.20
458.50
733,234.437
1,326,873.75
2,577,803.50
1,626,255.70
445,089.816
62.17
1,218,179.03
65.30
2,547,803.10
67.23
1,458,708.60
75.26
VI8ITORS AND MINT FORCE.
During the year 64,312 visitors witnessed the coming operations
from the balconies.
On Juno 30 there were 94 officers and employees of this mint,
divided as follows among the departments:
General . 49
Assay . 9
Coining . ^
Melting and refining . ^
UNITED STATES ASSAY OFFICE AT NEW YORK.
This assay office and refinery were in operation throughout the
year, and the records show that the business transacted contmuec to
Micros sc
On account of the delay in erecting the new building on WaU
Street, the clerical force and the assay department are s
refinery building, and the employees deserve cre^V°^j ;tauie
m which they have performed their duties in crowded a
During the year 485,691.188 fine ounces of gold^d428^628.51 fine
°unces of silver were transferred to the mm t a 1]S0 in payment
Gold bars were issued to depositors for dome. v neec[*for gold
for bullion for $3,873,693.93, and gold bars were exch J ghowifg a
m!V°r domestic use in the arts> etc-’ fr!l the previous year,
total increase of $5,320,361.80 compared with tne ] » «4l 363, 473.89,
Gold bars were exchanged for gold com for <1
S mTb1? an increase of $21,238,568.04. ^ b for g0ld coin
The mcome received for the exchange of gold
Counted to $31,888.42, an increase of bars of fine gold, an
. 'here were stamped duiing the year <o, -|ver an increase ot
grease of 11,292 bars, and 16,018 bars of fine sin ,
°n45 bars.
48
REPORT OF THE DIRECTOR OF THE MINT.
The total number of deposits received was 13,324, an increase of
659, and 171 redeposits were received from New Orleans and Char¬
lotte, being an increase of 58.
There was received from the sale of platinum and palladium
860,472.29.
MELTING AND REFINING DEPARTMENT.
The melter and refiner received, operated upon, and delivered gold
and silver bullion during the fiscal year 1913 as follows:
Receipts and deliveries by the superintendent of melting and refining.
Items.
Gold account.
Silver account.
Receipts:
Settlement metal of June 30, 1912 .
Fine ounces.
894, 142. 292
3,179,981.503
51,830. 833
28,454. 095
120.938
Fine ounces.
1,046,284.51
2,180,083. 46
27,938.04
Deposits and purchases .
Reaeposits .
Uncurrent coin .
Transfers from Philadelphia .
100.00
Total .
4,154,529. 661
3,254,406. 01
Deliveries:
Gold certificate bars .
1,969,063.605
1,647.094.656
1,345.502
536,363. 02S
662. 870
Commercial (fine) bars .
2,764,083.86
3,175.50
484.669. 12
2,477.53
Sweeps .
Balance, June 30, 1913 .
Wastage .
Total .
4, 154,529.661
3,254,400.01
Year's operations in refitiery.
Sent to refinery.
Returned from refinery.
Gold:
Crude bullion with charges .
Bullion without charges .
Fine ounces.
1,505,399.972
Gold:
Fine bars .
Fine ounces.
3,616, 158.261
537, 70S. 530
2.049,129.689
Settlement bars, sweeps, etc...
Amount operated upon .
4,154,529.661
Total .
4,153,866.791
662. S70
Silver:
Crude bullion with charges. . .
Kill MAn U it ll Allt •
Wastage .
2,078,434.26
575,971.75
Silver:
Fine bars .
2. 764.0S3. 86
£>uiiiou w u uoui cn urges. ....
Settlement bars, sweeps, etc...
487,844.62
Amount operated upon . . .
3,254,406.01
Total .
3, 251.92S.4S
2,477.53
W astage .
By-products of refinery, United States assay office at New York, fiscal year 191S.
Classification.
Weight.
Value.
Sponge platinum .
Ounces.
1,408.00
18. 10
859. 712.09
760.20
Total value .
60,472.29
Silver bullion sent to the refinery upon which refining charges were
collected contained bv assay •’•qqw 7fi «n\ 1 b T m
by the Government ' returned^, ^tho^refinery^’ for^arting
C?y“l03Xm fee ou°rrinS CharSCS WCTe COlICCt^ C°“ta,ued b-?
OPERATIONS OF THE MINT SERVICE.
49
All copper recovered during that year is unrefined and in the form
of settlement bars and slabs, weighing in gross 22,484.90 ounces, and
containing 366.486 ounces of fine gold and 458.32 ounces of fine silver.
assayer’s department.
During the fiscal year 1913 there were made a total of 109,925
assays upon 40,388 samples, divided as follows:
Items.
Samples.
Assays.
32,451
5,944
1,993
89, 864
14, 050
6,011
Average cost per assay was $0,237.
The deposit samples came from 11,258 melts of gold and 2,237
melts of silver, the refinery samples from 344 melts of fine gold, 594
melts of fine silver, gold and silver anodes, sweeps, and other refinery
assays, and the specials from 665 deposits of small samples for the
determination of gold and silver fineness. Many of these specials
were articles of jewelry and manufacturer’s samples, some ot them
being used for the enforcement of the law relating to the manufactuie
and sale of jewelry, etc., marked with karat fineness. Others were
samples from the ‘Mint Bureau, and there were also many made in a
careful investigation of the relative accuracy of humid assays ioi
sfiver in gold bullion by cadmium-sodium chloride and cadmium-
subiho c/anate. methods, the. results of which were embodied in
reDorts to the Director of the Mint.
The refinery operations this year, including metal that had accumu¬
lated during the suspension of refining, resulted in sweeps containing
noticeable amounts of platinum, and the platinum contained was
therefore reported, thus decreasing the usual losses m the sale of
SWTheS large amount of current work (the gold deposits being greater
in number than in any previous year) required the constant effort of
the force to complete with promptness and. accuracy, but special
attention has been given to the correct determination of silver in gold
bullion by humid alsay and to the assay of fine gold from the refinery
«nrl in deposits made into certificate bars. .
About 95,000 cupels were made, and the silver disks used in alloying
+he assays for parting were rolled and cut in the department. I no
fine gold, fine silver, and standard bars made were all stamped with
the assay fineness. , . . , ,,
The number of officers and employees at this assay office at the
close of the fiscal year was as follows:
rseneral department . ??
Vosayer’s department .
j^elter and refiner’s department . . .
TotaL .
24950°— 14-
90
50
REPORT OF THE DIRECTOR OF THE MINT.
THE ASSA1 OFFICE OF THE UNITED STATES AT SEATTLE, WASH.
The total number of deposits of gold dust and buUion received
^“Su^ofstooeTsoTs,1’558 WdgUg 239'557-528 *“> of
The origin of these deposits is shown below:
Source.
Alaska:
Circle .
Cooks Inlet .
Copper River _
Eagle .
Iditarod . ’’**
Koyukuk . **’’
Koskokwim. .. .
Nome .
Southeast Akska......
Tanana .
n it. T?131 tor Alaska .
Colorado .
Idaho . . .
Montana . H"" .
Nevada . . .
Oregon . ;;;;;;;; ■—
Washington .
British Columbia.
British Columbia, reOned'."'.
J ukon Territory .
Mexico.... .
United States goid'oohi ! * *.**.*.
Jewelry, old plate, etc _
deposit melting room grains*.'
trains on purchases .
Total.
Gold.
Fine ounces.
4,118.837
9,311.539
12,913.380
1,342.604
68,541.765
5,296.408
8.674
48,067. 153
2,715.019
20,912.964
173,228.343
52.773
2.269
338.799
1,714.080
17.905
758.554
1,527.009
51,053.051
9,802.229
288.123
1.000
21.914
729.324
20.076
2.079
Silver.
Fine ou nces.
979. 52
1,164.40
2,115.31
233.20
10,412. 91
235.22
1.32
5,392.22
546.94
3,663.30
24,744.34
10.94
.34
69.79
220.19
7.12
297. 13
639. 14
13,063.39
.00
77.61
.12
.00
387.04
2.91
17.23
Total coining
value.
$86,498.02
194,096.27
269,867.48
28,076.47
1,431,278.00
109,811.64
181. 13
1,001,090.49
56,880.51
437,373.51
3,615,153.52
1,106.04
47.37
7,100.09
35,737.57
379.99
16,091.46
32,449.62
1,073,419.16
202,630.05
6,063. 31
20.84
453.01
15,611.51
419.03
67.68
Statement of gold deposits from the opening of the insfih^ r ,
of business JumS^ms °n Ju y 15’ 1898 ’ ** chse
tettg.-— — . . ..
A\ oirdupois tons .... . . . . .
Coining value. . . . . . . . . .
. * . . . .
Alaska: origin op the foregoing
Nome .
Tanana . . . .
Iditarod. . . . . .
Balance of...'.' . ’ . . . 42,845,278.63
_ . 1 . 3,417,725.19
Total for Alaska . 11,121,489.37
Canada: .
51,297
12,294,202.83
421.3
$211,363,034.76
British Columbia . . $106,248,
I ukon Territory .
Other * . . . ,r ^
1,265.09
All other sources
Total .
15,893,597.97
86,774,974.80
2,446,196.90
211,363,034.76
OPERATIONS OF THE MINT SERVICE.
51
The following table shows th* number, weight before and after
melting, loss in melting, and percentage of loss of the various classes
of bullion received :
Character of deposit.
Deposits.
Weight be¬
fore melt¬
ing.
Weight
after melt¬
ing.
Loss in
melting.
Percent¬
age of
loss.
Bars .
374
Ounces.
210,971.00
49,030.80
11,259.94
2,284.52
15,778.90
2,314. 87
171.64
Ounces.
210,831.05
47,032. 69
10,669. 81
2, 162. 86
14,792.51
2,284. 37
153.00
Ounces.
139.95
Ounces.
0.066
Dust .
599
1,998.11
590. 13
4. 075
Retort .
221
5. 240
Nuggets .
106
121. 66
5.325
Mixed deposits .
162
986. 39
6.251
Jewelry, Dars and scrap .
61
30. 50
1.317
Dental bars and scrap .
21
18.64
10.859
IJnifpd Stafps cold coin
14
24. 41
24.41
Total .
1,558
291,836.08
287,950.70
3,885.38
1.331
The average fineness of the bullion deposited was as follows : Gold,
831.8; silver, 137.2.
For convenience in shipping to the mint for coinage, 1,252 bars,
each under 400 ounces in weight and aggregating 65,437.80 ounces
Troy, were melted into 72 large bars.
A summary of the work done in the assaying department during
the year is as follows :
Quartation silver manufactured .
Cupels manufactured .
Bullion assays made .
Ore assays made for gold and silver .
Ore assays made for base metals .
Assavs of slag, etc., from melting room .
Special bullion assays made .
Mutilated domestic coins tested (gold) .
There were 19 persons, male, employed
. ounces. . 450
. number.. 17,500
. do _ 6,000
. do.... 181
. do.... 92
. do.... 250
. . do.... 27
. do.... 58
at the close of the fiscal
year.
ASSAY OFFICES AT CHARLOTTE, DEADWOOD, HELENA, BOISE, SALT
LAKE CITY, NEW ORLEANS, AND CARSON.
These offices were open throughout the year as usual for deposit
of bullion, and the details of then* operations will be found in tables
1 to 7 in the appendix.
LIFE OF COINAGE DIES.
Average number of pieces struck per die at the coinage mints duD-
ing the calendar year 1913 :
Denomination.
Philadelphia.
San Francisco.
Denver.
Obverse.
Reverse.
Obverse.
Reverse.
Obverse.
Reverse.
United States:
Pieces.
43,445
49,331
32,564
49,867
101,198
100,308
166,152
104,428
337,752
Pieces.
43,445
63,425
39,348
60,552
101,198
167, 180
201,756
125,314
323,621
Pieces.
20,833
34,301
106,148
21,467
92,214
Pieces.
20,833
34,301
106, 148
21,467
215,166
Pieces.
44,880
Pieces.
44,880
71,472
86,507
107,211
115,343
XlClll ViviAl*! • • • * *
177, 319
41,589
218,275
50,160
97,896
142,953
132,989
51,187
160,835
36,655
91,370
142,953
Philippines:
98,412
501,364
145, 0i5
391,309
52
EEPOET OF THE DIEECTOE OF THE MINT,
DEPOSITS, EAENINGS, AND EXPENDITURES , BY INSTITUTIONS.
The deposits, earnings (including seigniorage), and expenditures of
each office of the mint service during the fiscal year 1913, and the
number of employees in each, on July 1, 1913, are shown below:
/ Institution.
Number of—
Depos¬
its.
Rede¬
posits.
Philadelphia .
4,622
7,780
3,723
13,324
596
891
957
669
143
426
1,558
300
184
90
1,248
171
San Francisco .
Denver .
New York .
New Orleans .
Carson City .
Boise .
Helena .
Charlotte .
Dead wood .
Seattle .
Salt Lake City. . .
Total .
34,989
1,693
Value of gold
and silver
deposit.
Earnings.
Expendi¬
tures.1
Freight on
coin and
bullion.
Employ¬
ees July
1,1913.
$12,926,883.73
$3,648,421.97
$449,244.25
$5,211.40
329
55,152,050.60
517,707.11
192,398. 77
115
37,645,870.86
1,283,418.78
171,234.07
93
67,374,598.71
190,141.71
191,773.47
92
956,607.73
5,250.70
18,535.76
1,451.57
14
735,085.95
3,072. 10
14,145.90
979.38
5
1,022,087.29
3,908.21
14,762.40
1,103. 13
5
1,521,620.87
29,428.30
6,438.97
1,107.70
18,500. 13
2,638.59
1,620.50
35. 05
6
7,388,284.97
13,208.24
14,393.97
3,804.00
5
4,976,444.91
10,875.19
41,374.95
8,802.65
19
600,632.02
1,761.69
14,558.53
688.55
4
190,329,595.94
5,685,312.37
1,143,560.79
23,696.23
687
* Includes freight on shipments of coin and bullion between mints and assay offices.
OPERATIONS OF THE MELTER AND REFINERS AND THE COINERS,
FISCAL YEAR 1913.
of The mints ' an ah operated upon in. the different departments
agoreffated 13 001 Ti I 1C° at -^ew Tork during the fiscal year 1913
o?°silvei\ Thu°1,51? ^ ounces of gold and 12,210,488 fine ounces
68 718 751 ounces of S° 9Perated upon at the coinage mints
follo^fare ?h?«ef^ F coln^ge metal. The figures in the table
account!: figUreS as obtauied at the settlements of the
gold.
Institution and
department.
Amount
delivered by
superin¬
tendent.
Amount
returned to
superin¬
tendent.
Amount
operated
upon.
Surplus.
Wastage.
Wast¬
age
per
1,000
ounces
opera¬
ted
upon.
Per¬
centage
of good
coin
pro¬
duced
to
amount
opera¬
ted
upon.
Philadelphia Mint:
CoinSe 8nd re®nlnS-
Fine ozs.
1,993,067.302
2,004,344.823
5,962,127.786
1,136,212.128
2,604,649.997
733,234.437
4, 154,529.661
Fine ozs.
1,993,003.226
2,004,331.078
5,962,510.145
1,136,221.961
2,604,623.469
733,232.735
4, 153,866.891
Fine ozs.
2,066, 745.994
2,003,532.151
1,965, 563. 0S4
128,214.330
2,464,865.743
155, 089. 816
3,617,603.763
Fin* ozs.
Fine ok.
64.076
13. 745
0.031
0.006
San Francisco Mint*
Mehingand refining.
47. 5i
382.359
9.833
Denver Mint: **' ’
Mehtag and refining.
52.64
26.528
1.702
662.870
0.010
0.003
0. 183
Total:
Mchtag and refining.
62.17
14,714 374.746
3, 873, 791.38S
18, 588, 166.134
14,714.003. 731
3,873,785.774
18. 587 7Kq vie
10,114,678.584
2, 886, 836. 297
382.359
9.833
753.474
15.447
Grand total.
• t • OV, OUO
13> 001, 514. 881
392. 192
768.921
. 1-
OPERATIONS OP THE MINT SERVICE
53
SILVER.
Institution and
department.
Amount
delivered by
superin¬
tendent.
Amount
returned to
superin¬
tendent.
Amount
operated
upon.
Surplus.
Wastage.
Wast¬
age
per
1,000
ounces
opera¬
ted
upon.
Per¬
centage
of good
coin
pro¬
duced
to
amount
opera¬
ted
upon.
Philadelphia Mint:
Melting and refining.
Pnininp .
Fine ozs.
Fine ozs.
1,818,393.16
2,091,146.86
Fine ozs.
1,013,263.95
2,088,649.03
Fine ozs.
qc;*; 46
Fine ozs .
1,818, 143.58
2,091,167. 17
2,099,901.96
1,237,830.57
Odd* Td
20. 3i
6.009
67.02
San Francisco Mint:
Melting and refining.
rYnninfr . .
2, 103,975.92
1,237,664.51
1,476,238.28
1,135,638.48
1 ft 77 Qfi
i.66.06
6. 146
56. 13
Denver Mint:
Melting and refining.
Coining .
1,966,020.79
1,326,482.95
2,511,259.54
1,218,179.03
i &ft
. 1,964,988.49
1,326,873.75
390.80
6.320
65.30
New York assay office:
Melting and refining
. 3,254,406.01
3,251,928.48
2,767,259.36
2,477.53
0.895
Total:
Melting and refining
Coining .
9, 140,318.35
4,655,294.32
7,768,021. 13
4,442,466.54
5,461.92
2,477.53
577. 17
. 9,137,440.04
. 4,655,871.49
Grand total .
. 13,793,311.53
13,795,612.67
12,210,487.67
5,461.92
3,054.70
NICKEL.
Philadelphia Mint:
Melting and refining. 1
r.m'nin a . . 1
Tray ounces.
Troy ounces.
Troy ounces.
12.907.842.69
13.580.819.70
Troy ozs.
Troy ozs.
43, 070. 00
3.337
3,002,984.09 1
.3,593,668.90 1
12,959,911.09 1
13,580,106.70 1
13,562.20
0.998
51.77
San Francisco Mint:
Melting and refining .
r.nininp . .
811,686.11
686,802.28
714,819. 41
687,962.10
1,460.85
2.074
488,204.79
1, 159. 82
1.688
66.47
687,962.10
Denver Mint:
Melting and refining.
Prvinin cr _ _
3,812, 299.68
2,574,510.40
2,485, 144.30
2,547,803. 10
11,409. 80
4.591
3,823,709.48
2,577,803. 50
3,293. 10
1.292
67.23
Total: „ ,
Melting and refining.
PnitllTlOf . .
17,583,896.88
16,841,419.38
16, 107,806.40
16,816,584.90
55 940.65
17,314,898.36
16,859,434.50
18,015. 12
Grand total .
34,174,332.86
34,425,316.26
32,924,391.30
73,955. 77
bronze.
Philadelphia Mint: <
Melting and refining.
Coining — .
14,650,722.01
15,880,987.05
12,454,302.73
1 £ Q7Q ft&9 04
47 240.62
3.793
14,697,962.63
4,727.69
9,269. 75
1,418.72
0.297
60.26
15,885,714.74
io, o/y, uoa. ui
3.993
0.653
San Francisco Mint:
Melting and refining .
Coining .
3,394,625.54
3,021,496.04
2,301,443.28
2,321,583.31
2,174,068.80
66.44
2,302,862.00
8,166.90
458.50
5.422
0.314
Denver Mint: .
Melting and refining.
. 1,983,737.83
1, 626, 255. 70
1,975,570.93
1,625,797.20
1.506.614.60
1.458.708.60
75.26
Coining .
Total: ^ .
Melting and refining
.20,076,326.00
i a 01/4 QQO il
19,647,788.98
19,808,227. 53
16,282,500.64
19,511,859.44
64,677.27
. 6,604.91
Coining .
Grand total .
. 19, 814, ooz.
. 39,891,158. 44
39,456,016. 51
35,794,360.08
71,282.18
54
REPORT OF THE DIRECTOR OF THE MINT.
WASTAGE AND LOSS ON SALE OF SWEEPS AND GAINS FROM OPERATIONS.
The value of the precious metals wasted in the metallurgical and
mechanical departments was $17,744.86. A loss of $7,032.61 occurred
from the difference between the assay value of the bullion contained
in sweeps sold and the amount received for the same, as described in
the following table:
Mint at—
Items.
Philadel¬
phia.
San
Fran¬
cisco.
Denver.
Assay of¬
fice at
New York.
Gold wastage of melting and refining department.
Silver wastage of melting and refining department
Gold wastage of coining department .
Silver wastage of coining department . *
Loss on sale of sweeps . .’***
$1,324.57
63.55
284.12
12.24
233.04
$98.50
1,213.10
$548.38
35.18
232. 36
1,652. 91
$13,702.74
1,443.22
3,933.56
Total .
Paid as follows:
1,917.52
1,311.60
2,468.83
19,079.52
Total.
$15,575.69
1,506. 77
319.30
343. 10
7,032.61
24,777.47
From contingent appropriation .
From parting and refining appropriation
Total .
1,917.52
1,917.52
1,311.60
1,311.60
2,468.83
2,468.83
16,968. 10
2,111.42
19,079.52
22,666.05
2,111.42
24,777.47
The gains from operations in bullion during the fiscal vear 1913
amounted to $115,180.02, as follows:
Character of gains.
Surplus bullion recovered by the operative officers .
Value of deposit melting room grains and sweeps .
Net gains on bullion shipped from assay offices to mints’
Gain on light weight-gola coin purchased for recoinage
Receipts from the sale of by-products . .
for coinage.
Amount.
$11,359.86
33,279. 15
739.27
66. 71
69,735.03
Total
115,180.02
,r0m the « *115’180-02' from bullion opera-
Receipts and disposition of gold bullion, fiscal year 1913.
Institution.
Deposited.
Surplus
bullion
recovered.
Redeposited
receipts from
mints and
assay offices.
Total.
Deposits.
Uncurrent
United States
coin trans¬
ferred for
recoinage.
Philadelphia .
San Francisco .
Denver .
New York .
New Orleans .
Carson .
Helena .
Boise .
$1,787,275.88
54, 104,135.11
21,068, 154.73
66, 195,661.80
941,005. 21
724,517.20
1,495,670.25
1,007.332.06
29. 167.77
7,290,751.45
4,951,634.71
595,352.65
$904,295.23
$2,351.18
4,061.51
6,340.04
5,211.22
636.91
364.69
162.41
714.08
103.76
197.27
458.87
167.36
10,041,911.61
831,380.98
15,998,911.00
1,073,938.46
. .
$12,735,833.90
54,939,577.60
37,073,405. 77
67,274,811.48
941,542.1 2
724,881.89
1,495,832.66
1,008,046.14
29,271.53
7,290,948. 72
4,952,093.58
595,520.01
Charlotte .
Dead wood .
. .
Seattle .
Salt Lake City .
.
.
Total .
160, 190,658.82
904,295.23
20,669.30
27,946,142.05
189,061,765.40
OPERATIONS OF THE MINT SERVICE,
55
The disposition of gold bullion contained in the above table is as
follows :
Institution.
Bars paid
depositors.
Shipment
to mint
for coinage.
Sold in
sweeps.
Bars
exchanged
for coin.
Coinage.
Wast¬
age.
Total.
Philadelphia. . . .
San Francisco.. .
$237,482.11
20,226.47
18,567. 24
3,873,693.93
16,346.80
$947. 29
18,266.01
4,978.69
30,392 19
$5,711,031.89
206,596.53
$19,678,227.50
4,660,000.00
5,720,000.00
$1,608.69
$25,629,297.48
4,905,089.04
5,745,059.83
85,504,517.85
1,053,479.17
746,602 81
1,584,653.59
1,046,037.88
29,271.53
7,500,438.11
5,212,988. 16
650,940.42
1,513.90
Denver. . .
New York .
$10, 040, 127. 92
1,037,132.37
746,602. 81
1,584,653.59
1,046,032.56
29,270.25
7,500,438. 11
5,212,988. 16
AO
71,560,303.81
New Orleans. ...
Carson .
Helena .
Boise .
.
.
15.32
U. 28
Dead wood .
Salt Lake City...
Total .
4, 166,316. 5J
i 27,848,186.19
154,584. 21
77,477,932 23
30,058,227.50
3, 129. 19
139,608,375.87
BALANCES, RECEIPTS, AND DISBURSEMENTS.
Balances of sold bullion on hand June 30, 1912, and receipts,
disbursements, fnd balances, June 30 1913, at the mints and assay
nr» _ fnlln\vrinor table I
Balance on
June 30, 1912.
Receipts dur¬
ing the fiscal
year 1913.
Total.
Disbursements
during fiscal
year 1913.
Balance on
June 30, 1913.
$19,616,498. 39
84, 180,211.59
50,294,769.22
42,602,396.42
124,477.17
22,213. 70
89,583. 91
37,091. 79
$12,735,833.90
54,939,577.60
37,073,405.77
67,274,811. 48
941,542.12
724,881.89
1,495,832.66
1,008,046.14
29,271.53
7,290,948.72
4,952,093.58
595,601.05
$32,352,332.29
139,119,789. 19
87,368, 174.99
109,877,207.90
1,066,019.29
747,095.59
1,585,416.57
1 045, 137.93
29,271.53
$25,629,297. 48
4,905,089.04
5 745,059.83
85 504,517.85
1,053,479.17
746,602.81
1,584,653.59
1,046,037.88
29,271.53
7,500,438.11
5,212,988. 16
650,940.42
$6,723,034. 81
134,214,700.15
81,623,115. 16
24,372,690 05
12,540.12
492 78
762 98
100.05
94 02
261,903.00
55,997.36
7,525,767.13
5,213,996.58
651,598.41
1,008.42
576.95
. 197,519,960.96
189,061,846.44
386,581,807.40
139,608,375.87
246,973,350. 49
Institution.
Philadelphia. . .
San Francisco. .
Denver .
New York .
New Orleans —
Carson .
Helena .
Boise .
Charlotte .
Dead wood .
Seattle.. ------
Salt Lake City.
Total.
laboratory of the bureau of the mint.
From the coinage of the ^oinsj aU of *which were found
bureau tested 170 gold and 37 weight and fineness,
within the legal requirements as to; we g“t standard (the legal
In the gold coins the greatest deviation au Q g
limit being 1 point. above or below^as ^ st dard (the legal
J,Kfpo"ove‘or below) was 1.3 and below, 1.3.
56
REPORT OF THE DIRECTOR OF THE MINT.
The following table summarizes these assays:
Fineness.
Philadelphia.
Denver.
San Francisco.
Total.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
898.7 .
1
2
10
15
1
2
12
20
.9 .
899.1 .
1
4
1
1
.3 .
.4
.5 .
3
3
12
19
30
32
23
16
2
2
2
1
1
2
4
5
7
5
1
1
4
5
16
24
37
37
24
16
2
2
o
•U.. . .
It .
29
13
5
47
.8. .
46
4
9
59
.9 .
one n
yuu.u .
.1 .
47
14
13
74
.3 .
44
15
11
70
.4 .
.5 .
20
‘is
2
1
2
13
“Y
4
1
15
. 5*
6
. 2
48
. 27
12
2
4
.
...... _
901.1 .
.3 .
.
.
.
.
Total .
144
S99.96
234
899. 95
None.
76
900. 11
26
899.82
68
900.21
170
899.89
378
900.09
Average fineness ....
Besides the coins tabulated above, two coins from the Philadelphia
Alint on repeated assays showed wide variations, but within the limits
abov e stated, in the composition of the metal within the coin Twenty
?2PhElwT remade on this lot. There were also examine?
3- Philippine silver coins from the San Francisco Mint which were
found to be within the legal requirements as to weight and fineness
PROCEEDINGS OF THE ASSAY COMMISSION, 1913.
The following-named gentlemen were designated as commissioners
the several mlnts^urint +R ^ *1 “!? fineness of the coins reserved at
..several mints during the calendar year 1912 pursuant to the nrn
TOions of sectron 3547 of the Revised ‘Statutes: P t0 me Pro
Til -rTTnn T^0nlln^, 1 *ttsbu*gb> Pa.; Mr. Judson Brenner, De Kalb
Chteov^nl mV L^AS°PkelSheVR e’ N- George M. Eckels!
D C py!ud^’iBK?au of Standards, Washington
Gibson^t. A^th^^*I^h^;aMr? A.^T^azStme^Wanen ^Pa^fion*
Philadelphia Pa • Mr Aiu.* t tt’, r* Owen Louis Shmn,
W. SmitE Philadeh)hiaAPn ^M‘ SAm,t,h’ He]ena’ Mont.; Mr. Joseph
Mr. (Se Vaux S R ’ Pn Vr 4mbr°s? ?fase5r- Cleveland, Ohio;
FTh’oSc T)ak'; J'r ^"BVihS,; Gle„sEFatlsrdN Y°0dS’ Si"“
lOnrdTrT metTTtxtrhe mint at Philadelphia on February 1?
Tho f 11 • ,Tames.H. Manning was elected chairman 3 ’
appni ftSS" ”PPOin,ed by the ch“™“n with «>«
Mess.. Eckels,
aod7a’S!“<”lWeiyW^--Mr‘ Fisoher' ebairman; Messrs. Brenner
OPERATIONS OF THE MINT SERVICE.
57
Committee on assaying . — Dr. Shinn, chairman; Messrs. Comings,
Davidson, A. L. Smith, and Swasey.
The committee on counting reported that the packages containing
the pieces reserved by the several mints for the trial of coins were
delivered to them, and that they were compared with the transcripts
kept by the Director of the Mint and found to be correct. After
verification the coins were delivered to the committees on weighing
and assaying.
The coins reserved by the mints for the purposes of the assay com¬
mission were as follows :
Institutions.
Gold.
Silver.
Pieces.
Value.
Pieces.
Value.
Philadelphia .
1,969
$12,657.50
12,668
7,031
2,749
1,222
$1,910.10
1,163.50
602.00
Denver. ............ _ ........... . . .
San Francisco:
United States coin . - .
692
4,960.00
Philippine Islands coin .
The committee on weighing reported that the working standards
of the mint were compared with the , standards in the possession of
the mint Which were certified to by the Bureau of Standards, test
No. 9502, September 15, 1911. The 10-ounce and the 20-ounce
weights were found to be correct to within 1 part in 250,000; the
30-ounce and 40-ounce weights were found to be correct to within
1 part in 150,000. The other weights, both larger and smaller, were
all found to be correct to within 1 part in 100,000. The peso, 50-
centavo, 20-centavo, and 10-centavo weights used in testing the
Philippine coins were tested by comparison with the standards of
the mint which had been verified by the Bureau of Standards, and
the deviations from the statutory standard weights of the coins ex¬
amined were all within the legal limit of tolerance.
The committee on assaying reported receiving and making assays
of coins reserved from the mints at Philadelphia, San Francisco, and
Denver, representing the deliveries made by the coiners to the super¬
intendents during the calendar year 1912. .
The highest assay value of the gold comage at the diflerent mints
(the limit of tolerance being one one-thousandth) is at —
Philadelphia . 900.3
San Francisco . . .
The lowest assay value of the gold coinage at the different mints
(the limit of tolerance being one one-thousandth) is at—
899 7
Philadelphia . . . . . .. 899. 7
San Francisco . * .
The highest assay value of the silver coinage at the different mints
(the limit of tolerance being three one-thousandths) is at—
^ 900.9
Philadelphia . 90L1
San Francisco . . . . . 901. 1
Denver . .
The lowest assay value of the silver coinage at the different mints
(the limit of tolerance being three one-thousandtlis) is at
' 898.6
Philadelphia . . . 899.1
San Francisco. . . . . . 899. 1
Denver .
58
REPORT OF THE DIRECTOR OF THE MINT.
^:S::assay value of the phuippine ^ ^
801.1
750.0
799.6
748.8
San Francisco (pesos)
San Francisco (subsidiary )'. ‘ ‘ .
sJ^Zla9Say.VaJU!'0f ^
San Francisco (subsidiary) . . . . .
mi . , . 748.8
from'' golT Tndthflead'uscd^n ?h artati°n f7? and found « free
found it free from gold and silver6 bVUlon and
assay of silver was fonnH +n k t -r ' acid used in the humid
i befence^used^were t^ted^nd^uE^to^e^c^^ct0211 ChW'
COMMITTEE ON RESOLUTIONS.
resolutions, which °n
souvenir of the mint; and * d by thou8ands who are anxious to secure a
Whereas in ih* noor _ _ Tr .. . _
pl JTn* \ vA, ereiore be it ^ '-ail<u ^ross tne Isthmus
comSoL^SSlTtii1913 -hereby renews the rec-
SSSfrflttS ^Co0llecti01l at the Philadelphia Min t^e maiutenance and increase
typicafand^hamcteristicdesi^ fSSS^S^fff^ «"«* mint medal of
und^rthefmm 8U- 8ales be devoted exdusivS^fr! th« moderate Price- and that the
Third LBSSSfite? of ,he TrL*„°4 6 e’‘tenS1°I‘ °f *°
“edal be ’,ruct to
E_ Roberts, Director of the Mint Mr T“w Th be, heartjIy tendered to Hon George
George M. Eckels,
Chairman.
Judson Brenner
movEMEOT op oou> keom the pori or NEW roRK
lias prepared the foSowLg^a^^tivi tEteS assay office at New York
port of New York: S ble’ gmnS exP°rts of gold through the
OPERATIONS OF THE MINT SERVICE. 59
Statement of United States gold coin and gold bullion exported from the port of New York
to Europe during the fiscal year ended June SO, 1918.
Date.
1912.
July 1
5
15
Aug. 12
13
Sept. 9
1913.
Jan. 8
11
15
17
20
31
3
7
7
8
8
12
14
15
18
19
25
5
7
9
14
15
21
6
Feb.
Mar.
Apr.
May
June
France . .
— do .
Netherlands.
— do . .
— do . .
- do . .
France .
— do .
— do .
— do . .
....do .
- do . .
- do .
- do .
Belgium _
- do .
Netherlands
France .
. do .
Germany...
. do .
. do .
Belgium....
France .
. do .
. do .
. do .
. do .
. do .
Belgium _
Total.
Country.
Amount.
Rate of
exchange.
t
$2,012,119
2,091,825
500
500
500
500
$4. 8720
4.8735
4. 8740
4.8725
4.8720
4.8720
2,023,288
1,012,093
2,060, 448
2,018,206
2,031,352
989, 425
1,053,516
2,045,617
500,000
220,053
250,000
2,040,753
2,007,702
714,000
2,001,969
4,045,032
220, 499
2,027,610
2,014,608
2,007,471
2,024,202
2,014,064
2,022, 185
220, 492
4.8640
4.8700
4. 8700
4.8730
4.8740
4.8725
4. 8735
4.8790
4.8790
4.8790
4.8790
4.8760
4.8695
4.8710
4.8710
4. 8780
4. 8675
4.8675
4.8660
4. 8610
4.8640
4.8630
4.8650
4.8690
41,670,529
Recapitulation of gold exports to Europe .
Classification.
Germany.
France.
Belgium.
Nether¬
lands.
United States coin .
$500,000
661,044
$252,000
Bullion .
$714,000
$39,543,485
Total .
714,000
39,543,485
1,161,044
252,000
Grand total of exports to Europe . - - . - — •• •• — $41, 670, 529
During the same period there were shipped to West Indies, Mexico, Central and South
America, etc., the following:
United States coin . *23, ?35, 353
Foreign coin.
689,572
Total gold exports to other ports
24,524,925
Grand total of gold exports . 195> 454
The imports during the same period were as follows:
From Europe:
United States coin
Foreign coin .
Foreign bullion . . .
Bullion in ore .
$1,166,453
640,931
9,572, 477
7,288
Total gold imports from Europe... . . . . . ..... ..... . - . . •*;•••
From other ports (West Indies, Central and South America, Cuba, etc.),
United States coin .
Foreign coin .
Foreign bullion .
Bullion in ore . . .
Total gold imports from other ports .
Grand total of gold imports .
. $11,387,149
1,058,712
978,504
17,735,052
121,218
. 19,893,486
31,280,635
60
REPORT OF THE DIRECTOR OF THE MINT.
NET EXPORTS, UNITED STATES GOLD COIN.
follows net exp0rts of States gold coin since 1870 were as
Imports and exports of United States gold coin since 1870.
Fiscal years.
Jan. 1 to June 30 —
1S70 .
1871 .
1872 .
1873 .
1874 .
1875 .
1876 .
1877 .
1878 .
1879 .
1880 .
1881 .
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
18S9 .
1890 .
1891 .
1892 .
1893 .
Imports.
*7,325,783
3,654,859
18,207,559
7,577,422
4,796,630
8,112,265
3,824,962
3,352,090
1,687,231
5,862,509
5, 181,513
1,403,619
1,949,552
2,824,146
15.432,443
6,074,699
Exports.
*12,768,501
55,491,719
40,391,357
35,661,863
28, 766, 943
59,309,770
27,542, 861
21,274.565
6,427,251
4,120,311
1,687,973
1,741,364
29,805,289
4,802,454
12,242.021
2,345,809
5,400, 976
3,550, 770
3,211,399
4,143,939
3,951,736
67,704,900
42,841,963
101,844,087
Fiscal years.
Jan. 1 to June 30 —
Continued.
1894 .
1895 .
1896 .
1897 .
1898 .
1899 .
1900 .
1901 .
1902 .
1903 .
1904 . .
1905 . .
'1906 .
1907 .
190S .
1909 .
1910 .
1911 .
1912 .
1913 .
Imports.
Total .
Net exports.
*30,790,892
10,752,673
10, 189,614
57,728,797
40,593,495
7,779,123
8,659,856
3,311,105
3,870,320
1,519,756
5,780,607
2,236,399
35,251,921
44,445,402
44, 929, 518
4,642,690
2,050,563
6,041,646
6,283,968
13,941,240
Exports.
438,067,067
1 Imports
*64,303,840
55,0%, 639
77,789,892
23,646,535
8,402,216
27,419, 737
30,674,511
8,425,947
9,370,841
18,041,660
15,682,424
54,409,014
20,573,572
22,632,283
28,246, 170
66,126,869
86,329,314
20,651,276
25,677,378
34,238,021
1,274,767,960
836,700,893
of United States gold coin not separately given prior to the fiscal year 1878.
STOCK OF MONEY IN THE UNITED STATES.
30, 1913, the stock of domestic coins in the UnitpH
was $2,363,115,066, as shown by the following table: S
Official table of stock of coin in the United States June SO , 1913.
Items.
Estimated stock of coin, June 30, 1912 .
Net imports United States coin, fiscal year 1913
Coinage, fiscal year 1913 . . . .
Total.
Less:
Net exports United States 'coin,' fiscai'year'i9l3 *
Total .
*^1913®^ stock of coin in the United States, June j
Gold.
Silver.
Total.
*1,615,248,998
*738,866,225
*2,354,115,223
30,058,228
1,668,707
3, 44S, 3C2
1,668,707
33,506,590
1,645,307,226
"43,983,294
2,389,290,520
1,864,638
414,035
2,278,673
3,500,000
20, 2%, 781
100,000
3,600,000
20, 2%, 781
25,661,419
514,035
26,175,454
1,619,645,807
—
743,469,259
2,363, 115,066
dollars melted
on June 30,
jlU iiopoTtoftte W*: andsin^ life Sumter ,
OPERATIONS OF THE MINT SERVICE,
61
Bullion in mints and assay offices, June 80, 191S.
Bullion.
Value.
$246,973,350
2 116 705
1 lvj f V/U
249,090,055
Metallic stock June SO, 1908, 1909, 1910, 1911, 1912, and 191S.
Coin and bullion.
June 30, 1908.
June 30, 1909.
June 30, 1910.
June 30, 1911.
June 30, 1912.
June 30, 1913.
Gold .
$1,615,140,575
723,594,595
$1,640, .567, 131
733,250,073
$1,635,424,513
727,078,304
$1,753, 134,114
732,002,448
$1,812,856,241
741,184,095
$1,866,619,157
745,585,964
Silver .
Total .
2,338,735,170
2,373,817,204
2,362,502,817
2,485, 136,562
2,554,040,336
2,612,205,121
Ownership of gold and silver in the United States, June SO, 1913.
Ownership.
Gold coin
and bullion.
Silver coin and bullion.
Total gold
and silver
coin and
bullion.
Silver
dollars.
Subsid¬
iary coin.
Silver
bullion.
Total
silver.
United States Treasury (free) ....
United States Treasury (for cer¬
tificates outstanding)
$254,220,648
1,003,997,709
143,762,659
89,443,500
375,194,641
$27,017,478
469,128,592
13,720,873
$20,737,926
$2,116,705
$49,872,109
469, 128,592
33,909,334
$304,092,757
1,473,126,301
177,671,993
89,443,500
567,870,570
National banks (June 4, 1913) ....
National banks (for clearing¬
house certificates)
20,188,461
Private banks and individuals. .
Total .
58,406,320
134,269,609
192,675,929
1,866,619,157
568,273,263
175, 195,996
2,116,705
745,585,964
2,612,205,121
Location of moneys of United States June SO, 1918.
Money.
In Treasury.
In National
banks
June 4, 1913.
In other banks
and in
circulation.
Total.
METALLIC.
Gold bullion .
$246,973,350
2,116,705
1,011,245,007
496,146,070
20,737,926
$246,973,350
2,116,705
1,619,645,807
568,273,263
175, 195,996
Silver bullion .
Gold coin .
Silver dollars .
Subsidiary silver coin .
Total metallic .
PAPER.
Legal-tender notes (old issue) .
Legal-tender notes (act July 14, 1910) —
National bank notes .
Total notes .
Gold certificates .
i $233,206,159
13,720,873
20,188,461
$375, 194,641
58,406,320
134,269,609
1,777,219,058
267,115,493
567,870,570
2,612,205,121
9,465,836
3,330
43,403,670
189,908,013
J 63, 106,604
147,307,167
2,656,670
652,647,632
346,681,016
2,660,000
759,157,906
52,872,836
253,014,617
802,611,469
1,108,498,922
82,949,460
14,421,408
277,813,310
133,339,825
726,184,399
335,788,767
Silver certificates .
Total certificates.. .
Grand total .
97,370,868
411,153,135
1,061,973, 166
1,927,462,762
931,283,245
2,432,455,205
3,720,704,043
i Includes $89,443,500 gold clearing-house certificates.
» Includes $11,567,796 of their own, held by different national banks.
62
REPORT OF THE DIRECTOR OF THE MINT,
Estimated stack of gold and silver in the United States and the amount per capita at the close
of each fiscal year since 1873.
Fiscal year ended June 30—
1873..
1874..
1875..
1876..
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
1912.
1913.
Population.
41,677,000
42,796,000
43,951,000
45,137,000
46,353,000
47,598,000
48,866,000
50,155,783
51,316,000
52,495,000
53,693,000
54,911,000
56, 148,000
57,404,000
58,680,000
59,974,000
61,289,000
62,622,250
63,975,000
65,520,000
66,946,000
68,397,000
69,878,000
71,390,000
72,937,000
74,522,000
76, 148,000
76,891,000
77,754,000
79,117,000
80,847,000
81,867,000
83, 259, 000
84,662,000
86,074,000
87,496,000
88, 926, 000
90,363,000
93, 983, 000
95, 656, 000
97,337,000
Total stock of coin and bul¬
lion.
Gold.
Silver.
$135,000,000
147,379,493
121,134,906
130,056,907
167,501,472
213,199,977
245,741,837
351,841,206
478,484,538
506,757,715
542,732,063
545,500,797
588,697,036
590, 774,461
654.520.335
705,818,855
680,063,505
695,563,029
646,582,852
664.275.335
597,697,685
627, 293, 201
636,229,825
599,597,964
696, 270, 542
861,514,780
962, 865, 505
1,034,439,264
1,124,652,818
1,192,395,607
1,249,552,756
1,327,672,672
1,357,881,186
1,472,995,209
1,466,056,632
1,615,140,575
1,640, 567,131
1,635,424,513
1,753,134,114
1,812,856,241
1,866,619,157
$6, 149,305
10,355,478
19,367,995
36,415,992
56,464,427
88,047,907
117,526,341
148,522, 678
175,384, 144
203,217,124
233,007,985
255,568, 142
283,478,788
312, 252,844
352,993,566
386,611,108
420,548,929
463. 211.919
522,277,740
570,313,544
615,861,484
624,347,757
625,854.949
628,728,071
634,509,781
637.672.743
639.286.743
647,371,030
661,205,403
670,540,105
677,448,933
682,383,277
686,401,168
687.958.920
705,330,224
723,594,595
733,250,073
727,078,304
732,002,448
741,184,095
745,585,964
Per capita.
Gold.
$3.23
3. 44
2.75
2.88
3.61
4. 47
5.02
7.01
9.32
9.65
10.10
9.93
10.48
10.29
11.15
11.76
11.09
11.10
10.10
10.15
8.93
9.18
9.10
8. 40
9.55
11.56
12.64
13.45
14. 47
15.07
15.45
16.22
16.31
17.40
17.03
18.46
18.45
18.10
18.65
18.95
19.17
Silver.
Total
metallic.
$0.15
$3.38
.24
3.68
.44
3.19
.81
3.69
1.21
4.82
1.85
6.32
2. 40
7.42
2.96
9.97
3. 41
12. 23
3.87
13.52
4.34
14.44
4.65
14.58
5.05
15.53
5.44
15.73
6.00
17.15
6.44
18.20
6. 86
17.95
7. 39
18.49
8.16
18.26
8.70
18.85
9.20
9.13
8. 97
8.81
8.70
8.56
8.40
8.42
8.50
8. 48
8.38
8.33
8.24
8.12
8.20
8.27
8.25
8.05
7.79
7.75
7.66
18.13
18.31
18.07
17.21
18.25
20.12
21.04
21.87
22.97
23.55
23.83
24.55
24.55
25.52
25.23
26.73
26.70
26. 15
26.44
26.70
26.83
STANDARD SILVER DOLLARS USED IN SUBSIDIARY SILVER COINAGE.
There were purchased as bullion and melted nt tu • *
assay offices 4,757 mutilated silver dollars during fi i ntS and
wM, were used in the manufactureTs„&fslw^r 1913’
The following have been used since 1883: ^ ^ er C0ln*
Fiscal years.
1883.
1884.
1885.
1886.
1887.
1888.
1899.
1890.
Amount.
$621
1,850
8,292
14,055
31,042
11,977
Fiscal years.
1891
1892
1893
1894
1895
1896
1897
1898,
V mount.
Fiscal years.
Amount.
Fiscal years.
Amount.
$10,800
42,881
1899 .
1900..
$1,734
1,341
1,786
1,893
1,777
1,304
2,298
1907 .
$1,548
10,500
1901..
1908 .
1, 170
15,055
1902..
1909 .
1,293
18,580
1903
1910 .
961
2,034
1904
1911 .
1,320
1,898
1,365
1905.
1912 .
1,024
1906.
1913 .
4,757
909
Total...
196,065
OPERATIONS OF THE MINT SERVICE.
63
EECOINAGE OF UNCURRENT UNITED STATES SILVER COIN.
The table following shows the face value of abraded subsidiary
coin transferred and purchased for recoinage, the amount of new
coin made therefrom, and the loss since 1891:
Fiscal years.
Face value.
Value of new
coin produced.
Loss.
$910,046.69
$861,680.41
$48,366.2 8
7,118,602. 78
6,937,886.02
180, 716. 76
7,618,198.25
7,381,289.58
236,908.67
7,184,472.17
6,924,753.05
259, 719. 12
4,361,761.36
4,161,820.73
199,940.63
4,627,141.46
4,377,258.40
249,883.06
3,197,998.50
3,048,861.64
149, 136. 86
6,109,772.32
5,820, 159.16
289,613. 16
8,584,304.26
8,098,485. 18
485, 819. 08
5,261,070.35
4,950,088.96
310, 981 . 39
3,832,280.69
3,613,021.59
219, 259. 10
3,333,437.06
3,141,548.04
191,889.02
3,008,747.98
2,829,890.71
178, 85/ . 27
2,828,384.90
2,656, 104.21
172,280.69
1,964,476.11
1,839,219.24
125,256.87
1,414,963.90
1,322,834.27
92, 129. 63
. .
1,142,184.00
1,064,826.39
77 , 357 . 61
. .
1,162,982.06
1,086,691.94
76, 290. 12
1909 . .
977,321.23
912,300.40
65,020. 83
. .
814,361.57
758,695.55
55,666. 02
. .
583,538.44
544,539.09
38,999. 35
1912 .
678,457.94
634,101.94
44,356.00
1913 .
414,035.30
388,026.37
26,008.93
Total .
77,128,539.32
73,354,082.87
3,774,456. 15
The loss on the recoinage of $1,863,637.50 in worn and uncurrent
gold coins was $16,757.58 and the net loss on the recoinage of
$414,035.30 in worn and uncurrent silver coins was $26,008.93.
The Treasury was reimbursed from the appropriation for that pur¬
pose the following losses on uncurrent com transferred during the
fiscal year 1913 for recoinage:
Uncurrent gold coins . $148. 43
Uncurrent silver coins . 26, 000. 75
Uncurrent minor coins . 8, 170. 36
Total . 34,319.54
UNITED STATES GOLD IN CANADA.
The holdings of United States gold coin in the treasury of the
Dominion of Canada on December 31, 1912, was $98,648,736.50.
The holdings of United States gold coin of the chartered banks (25 in
number) on the same date aggregated $19,210,327.
The total amount of United States gold coin in Canadian reserves
on the foregoing date was, therefore, $117,859,063.50.
64
REPORT OF THE DIRECTOR OF THE MINT,
Monetary systems and approximate stock of money in the aggregate
Countries.
Monetary
standard.
Monetary unit.
United States .
Gold....
. . .do _
Dollar .
Austria-Hungary .
Crown .
Belgium _ .
...do .
Franc .
British Empire:
Australia .
. ..do .
Pound sterling . .
Dollar .
Canada .
United Kingdom .
India .
...do .
Pound sterling..
Pound sterling
and rupee.
Pound sterling..
Dollar .
South Africa .
...do _
Straits Settlements * .
...do .
Bulgaria .
Lev .
Cuba 6 .
...do .
Peseta _
Denmark .
Crown
Egypt .
Piaster _
Finland . .
...do...
Markka .
France .
Franc .
Germany8 .
...do.
Mark
Greece. 1 .
...do
Drachma
Haiti .
...do..
Gourde..., .
Lira .
Italy .
...do .
Japan .
Yen .
Korea (Chosen) .
.do. .
Mexico .
Peso .
Netherlands .
Florin
Norway .
Crown.
Portugal .
...do...
Escudos
Roumania .
Lei .
Russia .
...do _
Ruble
Servia .
Dinar. . .
Siam .
Tical. . .
South American States:
Argentina .
Peso .
Bolivia .
Brazil .
...do .
Boliviano .
Milreis
Chile .
Peso .
Colombia .
...do .
Dollar
Ecuador .
Sucre . .
Guiana—
British .
_ do _
Pound sterling..
Florin...
Dutch .
...do .
French .
...do .
Franc.
Paraguay .
Peso
Peru .
...do...
Sol
Uruguay .
. . .do .
Peso.
Venezuela .
...do .
Bolivar
Spain .
. . .do .
Peseta
Sweden .
...do .
Crown . .
Switzerland .
...do .
Franc
Turkey .
...do....
Piaster
Central American States .
Total .
Silver 10.
Peso .
Stock of gold.
Popula¬
tion.
In banks
and pub¬
lic treas¬
uries.
In circu¬
lation.
Total.
Thou¬
Thou¬
Thou¬
Thou¬
sands.
sands.
sands.
sands.
96,500
1,494,500
385,000
1,879,500
49,400
245,900
48,600
294,500
7,500
41,400
20,000
61,400
4,600
152,900
14,000
166,900
7,200
U37,800
10,000
147,800
45,400
2 395, 100
335,800
730,900
244,300
3 124,000
250,000
374,000
6,000
42,600
15,000
57,600
2,000
4,900
4,900
4,400
2,200
2,700
9,800
9,800
30,000
21,400
21,400
11,300
8,800
181,200
6 190,000
3,100
6,900
3,700
10,600
39,600
619,000
581,000
U,200,000
64,900
213,400
650,000
863,400
2,600
3,000
2,000
5,000
2,000
1,30CT
2, 100
3,400
34,700
248,300
248,300
53,000
124,500
17,700
142,200
14,800
4,400
4,400
15,100
31,200
31,200
6,000
66,000
7,000
73,000
2,400
10,300
6,100
16,400
6,000
65,600
8,200
73,800
7,300
30,000
2,100
32,100
167,000
646,100
354,100
1,000,200
2,900
9,700
9,700
8,100
100
100
7,200
281,400
281,400
2,300
7,800
7,800
17,300
125,500
125,500
3,400
5,200
500
500
1,300
2,300
2,300
300
100
100
100
200
200
100
700
100
100
4,600
1,200
8,300
21,700
3,900
12,200
21,700
3,300
123,600
30,200
2,700
19,700
800
123,600
2,500
5,600
27,000
3,200
3,700
33,400
11,600
45,000
23,800
14,900
127,500
142, 400
4,700
1,800
100
1,900
1,016,900
5,408,300 :
5,042,400 f
$, 480, 700
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Note.— Tno blank spaces in tins table signify that no satisfactory information i* t
stances the amount of gold in banks and public treasuries is carried out as the ♦ Jn SOme* m"
although an unknown amount is in circulation. The case of Italy ^ examnTnf th?^ ^the countl7’
circulation Is based upon known amounts only. All estimates for stock of^nnnA^iT^^ w-e per ^P* 1 *^3 *
accepted with reserve. ior stock or money m circulation must be
1 “ Specie 99 includes subsidiary coin in banks.
bnlUonK" the UnU<!d Kingd°m Pri°r 10 1910 WOre for «*» these figures include *100,000,000 for
: Ge^ of India in 1908.
6 Unlted States paper currency to legal tender and constitutes a considerable proportion of the circulation.
OPERATIONS OF THE MINT SERVICE
65
and per capita in the principal countries of the world, Dec. 31, 1912.
66
REPORT OF THE DIRECTOR OF THE MINT.
MONETARY STOCKS.
The foregoing table is offered with the usual words of explanation
and caution. The footnotes should be carefully observed. The in¬
formation is sought through the diplomatic representatives of the
United States at foreign capitals.
The figures for stock of money in banks and treasuries are usually
from official sources, although for some of the smaller countries it is
sometimes necessary to resort to financial journals. The figures for
the amount of money in circulation are of uncertain value, but the
best obtainable and thought to be worth giving.
The changes in the table from year to year are not always changes
in fact, but sometimes corrections; thus for several years no figures
have been given for the gold stock of Germany outside the Reichsbank,
but this year an estimate is indicated based upon one by Dr. Arnold.
The figures for the stock of gold in banks and treasuries are greater
by $240,000,000 than for the preceding year, the largest gains being
by the United States, Russia, and Argentina.
GOLD MOVEMENT TO INDIA.
The movement of gold to India continues to be a matter of world¬
wide importance and interest. During the last three British fiscal
years, ending March 31, the net imports of gold coin and bullion, plus
the Indian production, have been approximately as follows:
1910- 11
1911- 12
1912- 13
$88, 517, 513
133, 560, 027
132, 977, 746
It appears that India has taken during the last two years about
28 per cent of the world’s production of gold. For the current fiscal
year, however, trade conditions have not been so favorable to India
and the movement is less.
The above importations came in about equal amounts from London,
Wpt and Australia. The movement from Egypt takes place annu¬
ally after the crop-moving season m that country is over Everv
year there is a larger movement of sovereigns from London to Egvpt
to move the cotton crop; when this is over and the coin is released
the situation is favorable for moving a portion of the supply on to
India, one-half of the journey bemg done 1 F J
The proportion of gold bullion in the imports has remained about
the same during these three years, the increase being in ™ ereSts
winch by all accounts are entering more and more into the ISS
cal transactions of the people. An extract elsewhere from the report
of Indian Goverm
£ Theb“^“ tPts„ofifoint 4k?“r^§
■Pr nV habit is slowly abSied ^
the precious metals in the
Hindu inheritance laws whlli dn * } econ°mic explanation in the
the female members of’ a familv P?°Perty to descend to
personal ornaments } They may’ howev<*, retain their
OPERATIONS OF THE MINT SERVICE.
67
GOLD AND PRICES.
That there is a relationship between the supply of gold and the
prices of commodities scarcely admits of controversy, but there are so
many other factors in price making that great practical difficulty
attends upon any effort to identify and estimate the particular effect
of the changes that occur from time to time in the output of gold.
The production of gold in the world has been practically stationary
for the last five years, and industrial consumption plus the movement
to India have taken approximately one-half of the output. The
remainder has been sufficient to allow of important annual additions
to monetary stocks, and in some countries, notably the United States,
it can scarcely be questioned that these additions have been related
to a long-continued period of enterprise and credit expansion.
The most persuasive statement of the affirmative theory is that,
however many influences may have participated in making the pres¬
ent price level, the level could not have been made as high as it is
without the enlarged supply of gold. If the gold supply has anything
to do with prices, this proposition can hardly be controverted, and if
anyone is disposed to deny the quantitative theory in toto, he should
consider what results would ensue from the discovery of a cheap
process of artificially producing gold. Will anybody contend that
such a discovery would have no effect upon monetary or industrial
conditions ? On the other hand , the dramatic effect of the phenomenal
increase in the production of gold, coincident with the general rise of
prices, has fixed attention upon this factor and given it, possibly, an
undue importance. Other and very important influences have
undoubtedly contributed to the movement.
It is evident that an increasing production of gold has a direct
effect in swelling bank reserves. The new gold flows into the banks,
not only for safekeeping but to create balances against which the
mine owners may draw to meet operating expenses. Even for the
best fields, approximately 75 per cent of the credits so created must
be used for this purpose. But, unlike bank credits created by other
industrial operations, these credits, accompanied by an equal amount
of new gold, enlarge in a much greater degree the ability of the banks
to make loans. The entire gold-producing industry of the world may
not, as an industry, be more than self-supporting, but when the prod¬
uct in the form of money enters bank reserves it may as the basis of
credit create purchasing power to several times its own value.
One way or another the new supplies of credit will force their way
into use. They make capital available for new undertakings and for
the enlargement of old ones, and in this era of industrial activity and
change there is practically no end of promising opportunities for
investment. There are many countries, both old and new, with vast
undeveloped resources appealing for capital. Competent authori¬
ties have estimated that as much as $3,500,000,000 of foreign capital
has been invested in Canada in the last dozen years in constructive
work. Probably $800,000,000 has been similarly invested in Brazil
in tho last ten years. And these are new countries with compara¬
tively small populations. The sums so invested in the United States,
of course, have been very much greater than in these two put
together.
68
REPORT OF THE DIRECTOR OF THE MINT.
The entire organization and equipment of the industrial world is
constantly undergoing change. The alterations in power equip¬
ments alone, resulting from improvements in the steam engine, the
development of internal combustion, and the various applications of
electricity, call for enormous amounts of capital, or, for what amounts
to the same tiling, credit accommodations. Modern industrial equip¬
ment, like the modern battleship, does not wear out, but is forced
out by the pressure of the ever-coming new and superior substitutes.
This entire movement is stimulated by increasing bank reserves.
There is a familiar tendency in the business world to alternating
periods of expansion and contraction, the former running its course
until credit is strained, when reaction sets in and is more or less pro¬
tracted according to the degree in which credit may have been over¬
used. But with constantly increasing bank reserves the periods of
expansion are longer maintained and the periods of reaction are
sooner overcome.
The growing importance of stock and produce exchanges and the
vast multiplication of corporate securities have been important
factors in the expansion of credits, and therefore had an effect upon
prices. In the last analyses it is effective demand that influences
prices, and the demand is usually financed by credit, which in turn
must have some relation to the gold reserves/ But the great supply
stocks and bonds now in the possession of the
public affords a most convenient facility by means of which loans
may be obtained. No doubt there is a great deal more borrowing
for miscellaneous investments upon the securities of a corporation
whose issues are widely distributed than there was upon the credit
of the same business before it was incorporated or wliile the owner¬
ship was m few hands Perhaps it is not too much to say that in
times of Prosperity, when the spirit of money-making is infectious,
t is difficult for the average man to keep good collateral in his own
box while many mviting opportunities for investment pass by
. J wdl natur»Uy he said, however, that if the present rise of prices
is due to an extraordinary demand for commodities and labor to be
used in construction and for improved equipment, there should be
results in the wav of an increased production of coninodities at lower
costs, and that these results in turn should show in lower prices
This is a perfectly logical conclusion, and the oidv answer that can
beJnm°i!iS -hat +unles? tho wor d has been wasting ite savffies ffi
unprofitable investments or population has become unduly coated
where the cost of living is necessarilv hi oh « uu.u3 YOI^estea
of prices should soon appear. ’ y luSh- a ration m the course
A study of oil price tables will show that the level of prices under
review has been earned up bv the rkn to oriiei ti prices under
materials. Manufactures have either iot risen «/l f°°u and -raW
by a lower percentage than tho ZmS? } tu °T hAX? ,nsen
entered into them. "The greatest viTaf Zu - ^ k,bor 7luch haYe
the United States has beSi in ‘ lumber f but k kfSt 15 ycars m
resort to the gold hypothesis for »n nvli *• ^ necessary to
the products It timber haTb^n goiSfel^ ,m Um case\ ^ of
plies were being exhausted Ind^so kil becaiJse near-by sup-
have been going higher beck™* th 11 °f th?, Products of the soil
of this country' have been occupied wto& ^fsdv tdled prairie lands
to increase. Moats are dearer fm- k • 0Ur P°Pulation continues
e aearcr tor obvious reason that cattle can
OPERATIONS OF THE MINT SERVICE.
69
no longer be pastured free on the public domain; the great ranches
and herds have been broken up, and for some years the supply of
meat animals in the United States has not been increasing. In all
price tables these products of the farms and forests and public lands
are very important factors.
For a long time, during the period of land settlement in the United
States, when it cost but little to open new farms, the prices of farm
products were so low as to afford very small compensation to the
producers. The desire to own land, wliicli was expected ultimately
to increase in value, was the chief inducement for the opening of new
farms, and it was sufficient to keep the price of products down close
to the bare labor cost, upon most farms, of producing them. With
the cheap and easily tilled lands occupied, there was a slowing down
in agricultural expansion. Since then development in agriculture
has not kept pace with progress in manufactures or transportation.
Since the Baring crisis in 1890, caused by overfree investments in
Argentine railways, there has been no extensive railway construction
opening up large areas of cheap lands until the Canadian construction
began a few years ago. And while there has been an important
movement of farmers into the Canadian Northwest the results of the
development expenditures have only begun to make themselves felt.
It is, however, true that wheat, the principal crop of Canada, is one
of the farm staples that has made the smallest advance.
The expenditures of capital upon the railways of the United States
during the last 15 years have been enormous, but they have been
mainly directed to the improvement of the existing lines and not to
the opening of new territory, as in the decade from 1881 to 1890. The
roads have been straightened, grades have been reduced, additional
tracks have been provided, heavier rails have been laid, new and
stronger bridges have been built; and along with these betterments
upon the roadways have come more powerful and more economical
locomotives, and freight cars of much greater capacity. These
improvements have called for a vast amount of labor and materials
and have had an important influence upon wages and prices. They
have undoubtedly been very effective for the purpose for which they
were made, to wit, an economy in labor and power in the operation of
the lines. Judged by the higher efficiency obtained, these outlays
were well worth making, but the rising prices of timber, ties, and
various supplies, and the higher wages required of the companies by
reason of the higher cost to their employees of food and clothing,
have apparently more than offset all the gains accomplished by
reconstruction and improved equipment.
And the situation of the railways is illustrative of what has occurred
throughout the industries. In all lines heavy investments of capital
have been made for the purpose of reducing labor costs, and results
have been obtained which would have naturally appeared in lower
prices if the higher costs of raw materials and of the food and clothing
of the operatives had not intervened and overbalanced them. Indeed,
it would require nothing less than a revolution in the methods of
industry to offset in importance a rise of 50 per cent in the cost of the
food staples and of such common commodities as cotton, hides, and
lumber.
According to the tables of the United States Bureau of Labor, the
average of prices of farm products during the year 1912 was 171.3
70
REPORT OF THE DIRECTOR OF THE MINT.
per cent of tlie average for the 10 rears 1S90-1S99, while the average
of all the commodities included in its tables was but 133.6 of the same
base. It is evident that the commodities other than farm products
increased by a less percentage than 133.6, and it is easy to beheve that
the rise of 171.3 in farm products, which include not only food but
the raw materials of clothing, was the main factor in the rise of other
commodities.
The percentages of increase in certain raw commodities and of
merchantable products related thereto, as they appear in the tables
of the United States Bureau of Labor for the year 1912, are given
below:
Average wholesale price s for the year 191 1.
[1S90-1899- 100.1
Raw commodities.
Percent.
Cattle, good to choice
177.5
Beef sides
Hides _
Manufactures.
Per cent.
157.3
187.8
Cotton, raw
Com .
Flaxseed, No. 1
Hides .
Hogs, heavy .
Hogs, light .
Petroleum, crude
Pig iron .
Sheep, wethers. .
Sugar, raw .
Wheat .
Wool, Ohio, fine fleece, X and XX grade,
scoured . .
118.2
19a 2
187.6
187. S
172.1
17a 8
in.o
115.7
11L7
107.5
139.7
117.1
Tallow .
Calico, American standard prints .
Amoskeag ginghams .
Cotton flannels, 34 pounds to yard .
Cotton thread. Coats .
Hosiery, women's cotton, seamless, fast
black. 26 to 23 ounces, 160 to 170 needles.
Print cloths. 64 by 64 .
Sheetings, bleached, 9-4 Atlantic .
Shirtings, bleached, 4-4 Fruit of the
Loom .
Corn starch .
Grain alcohol .
Linseed ofl, raw .
Leather, harness .
Leather, chrome calf .
Leather, sole .
Shoes . . .
Shoes .
Shoes .
shoes .
Lard, prime contract . .
Bacon .
Salt pork, mess . .
Hams, smoked .
Petroleum, refined, 150= fire test,’ water"
white .
Bar iron . . .
Barb wire . .
Hammers, Maydole, No! 1|7.\*~! 77!! 1
8-penny, fence and common
Saws, Disston, No. 7. ..
no. a...
suja sheets, black. No. 27!;;;;;::;;;
Table cutlery .
Mutton . .
fhgar, granulated. .1*1’!** .
Flour, spring, patents . 777! .
Flour, winter-wheat, straights.... 1.”*
I nderwear, white, ail wooL . ...
Womens dress goods, all wool, 8-9 twflL
35-inch, Atlantic Mills . .
Suumgs, indigo blue, all wool * Middle-
142. 8
KM.4
117.3
131.1
126.4
S9.9
134.3
120.9
113.9
108. S
114.7
148.3
13L9
128.4
123.5
128.8
119.0
118.8
133.3
16a 4
164.0
165. S
145.2
125.5
103.5
84.5
121. S
8a5
101.3
94.7
19L0
87. 5
87.3
111.3
106.7
122.7
121.9
115.8
138.0
115.1
The British Board erf Trade has ksued a special report upon rents
prices, and wages m 1912, and in this report includes a comi art ive
showing of the rise of prices of food since 1900 in 1 1 foreign^omitrS
and several of its own colonies. In this table the figures for each
country are all reduced to percentages of the price level of 19(K)
OPERATIONS OF THE MINT SERVICE,
71
The figures for several countries, including the United States, for
1912 were not available when the report was closed. The close
correspondence between the figures for the United States and Canada
is worthy of note and, of course, was to be expected:
Index numbers of changes in the level of food prices since the year 1900 in the United King¬
dom and certain foreign countries and British dominions oversea.
[1900=100.]
Country and nature of index num¬
ber.
1900
United Kingdom:
Retail prices of 23 articles of
food in London, weighted,
according to workmen’s con¬
sumption .
Foreign countries:
Austria-Hungary—
(а) Austria, retail prices of
14 articles of food in Vi¬
enna (unweighted) .
(б) Hungary, retail prices
of 48 articles of food in 22
principal towns (un¬
weighted) . .
Belgium-
Retail prices of 11 articles
of food in 16 principal
towns, weighted accord¬
ing to workmen’s con¬
sumption .
France-
Retail prices of 24 articles
of food (including wine),
fuel, and lighting mate¬
rials in Paris, weighted
according to workmen’s
consumption .
Germany —
Retail prices of 13 articles
of food in Prussia, Bava¬
ria, Baden, and Wurt-
temburg, weighted ac¬
cording to workmen’s
„ consumption .
Holland-
Retail prices of 23 articles
of food in 6 principal
_ towns (unweighted) . .
Italy—
Contract prices of 13 arti¬
cles of food supplied to
43 State colleges in va¬
rious parts of the country
(unweighted) .
Norway —
Retail prices of all articles
of food (26 specified) in
Christiania, weighted ac¬
cording to workmen’s
Russia00™?1'011 .
Wholesale prices of 30 ar¬
ticles of food at repre¬
sentative markets (un
T_ weighted) .
United States—
Retail prices of 15 articles
of food in 39 principal
cities, weighted accord¬
ing to workmen’s con-
1901
100
100
100
100
100
100
100
100
(2)
100
_ sumption.
Japan-
Wholesale prices of 20 arti¬
cles of food in 19 to 25
towns (unweighted) -
100
100
1902
100
100
101
101
100
103
100
100
100
104
105
97
1903
101
99
102
102
95
106
100
99
99
107
111
100
103
101
1U3
113
105
102
99
99
102
111
108
1904
102
105
111
109
99
105
103
97
97
104
113
120
1905
103
108
122
110
97
114
102
99
100
112
113
132
1906
102
113
118
112
95
118
103
99
103
116
117
127
1907
105
113
122
115
100
116
105
101
108.
130
122
134
1908
108
118
128
116
102
116
107
105
109
130
126
136
1909
108
120
131
120
100
124
109
112
106
127
133
132
1910
109
126
129
122
104
127
115
114
108
116
140
132
1911
109
128
137
128
117
128
117
118
111
121
139
138
1912
115
135
132
115
1130
123
120
119
1 Baden only; figures for the remaining
2 Data for the year 1900 are not availai ♦
States not yet available
for this year.
72
REPORT OF THE DIRECTOR OF THE MINT.
[1900-100.)
Country and nature of index num¬
ber.
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
191C
> 1911
1912
British Dominions:
Canada-
Wholesale prices of 78 art i¬
cles of food (including
fodder) at representative
markets, weighted ac¬
cording to national con¬
sumption .
Australia —
100
104
109
106
109
111
115
128
129
133
135
136
151
Retail prices of 41 articles
of food (besides soap,
starch, washing blue,
kerosene, and candles)
in the 6 capital cities,
weighted according to
wr national consumption. . . .
New Zealand-
0)
100
109
105
95
101
101
98
106
104
103
103
116
Wholesale prices of 17 ar¬
ticles of food at repre¬
sentative markets (un¬
weighted) . . .
100
101
109
109
102
107 j
107
112
117
108
110
116 .
UNITED STATES GOLD COIN IMPORTED AND MELTED BY VARIOUS COTTN
TRIES DURING THE CALENDAR YEAR 1912.
The following table shows the amount of TTnitA/I ,j
imported bv various countries and the value of Si t t "oI(i 001,1
coin melted at their mints: of the Umtod States gold
Countries.
Imports of
United States
gold coin.
United States
gold coin
melted.
Austria-Hungary .
Argentina . . .
Brazil . . .
Canada . .
Cuba . . . .
Japan . . . .
Servia . . .
Panama . .
Costa Itiua . . . . . .
V enezuela . . . ” * ' *
Total . .
*08, 100
8,540,000
_ 1,855
7.4S4.0S9
“78,363
1,636
500
80,000
1,624,623
1.010, 120
$6S, 100
800
40,' 595
19,589,286
109, 495
' Data for the year 1900 aw not available.
year 1900 an> not available.
OPERATIONS OF THE MINT SERVICE,
73
VALUES OF FOREIGN COINS.
The following values calculated by the Director of the Mint were
proclaimed by the Secretary of the Treasury under the provisions of
section 25 of the act of August 27, 1894, as the basis for estimating
the value of foreign merchandise exported to the United States during
the quarter beginning October 1, 1913:
Values of foreign coins .
Country.
Legal stand¬
ard.
Argentina.
Gold
A ustria-H ungary . .
Belgium .
Bolivia .
_ do .
Gold and sil¬
ver.
Gold .
Brazil.
do
British colonies in
Australasia and
Africa.
Canada .
Central American
States:
Costa Rica .
British Hondu-
do
do
do
do
ras.
Guatemala
Honduras.
Nicaragua.
Silver
Salvador
Chile .
Gold
China
Silver
Colombia.
Gold
Denmark
Ecuador .
do
do
Monetary unit.
Peso .
Crown .
Franc .
Boliviano .
Milreis .
Pound sterling .
Dollar .
Colon . .
Dollar.
Peso.
.do.
Amoy .
Canton .
Chef oo .
Chink iang . . .
Foochow ....
H a i k w a n
(customs).
Hankow. ...
Tael . Kaiochow. . .
Nanking. ...
Newchwang..
Ningpo....
Peking _
Shanghai. .
Swatow...
Takau ....
.Tientsin. . ,
(Yuan .
Dollar I Hongkong.
(Mexican...
'Dollar .
Crown .
Sucre . .
Value
in
terms
of U. S.
money.
Remarks.1
$0. 9647
Currency: Depreciated paper,
convertible at 44 per cent of
face value.
.203
.193
.389
.546
Member of Latin Union; gold is
the actual standard.
12J bolivianos equal 1 pound
sterling.
Currency: Government paper,
convertible at $0.3242 to the
milreis.
4.8665
1.000
.465
1.000
.435
.365
.713
.711
.682
.697
. 660
.726
Currency: Inconvertible paper;
exchange rate, 16 to 18 pesos
equal $1.
Currency: Bank notes; exchange
rate Mar. 20, 1912, $0,415.
Currency: Inconvertible paper;
exchange rate, 16J to 17 pesos
equal $1.
Currency: Convertible into sil¬
ver oh demand.
Currency: Inconvertible paper;
exchange rate approximately
$0.2061.
.667
.691
.706
.669
.686
.695
.651
.659
.718
.691
.519
.469
.469
.473
1.000
.268
.487
Currency: Inconvertible paper;
exchange rate approximately
$102 paper to $1 gold.
1 The exchange rates shown under this heading are recent quotations and given as an indication of the
values of currencies which are fluctuating in their relation to the legal standard. They are not to take the
place of the consular certificate where it is available.
74
REPORT OF THE DIRECTOR OF THE MINT.
Values of foreign coins -Continued.
Country.
Egypt.
Finland.
Franc©..
German Empire.
Great Britain
Greece .
Haiti.
India (British).
Italy . .
Japan...
Liberia.
Mexico .
Netherlands....
Newfoundland .
Norway .
Panama .
Paraguay .
Persia .
Peru .
Philippine Islands.
Portugal .
Roumania .
R ussia .
Santo Domingo . .
Servia .
Siam .
Spain .
Straits Settlements.
Sweden .
Switzerland .
Turkey.
Uruguay .
Venezuela .
Legal stand¬
ard.
Gold.
. do .
Gold and sil¬
ver.
Gold .
. do .
Gold and sil¬
ver.
Gold .
..... do .......
Gold and sil¬
ver.
Gold .
. do .
- do.
- do.
- do.
....do.
....do.
Silver . .
Gold and sil¬
ver.
Gold...
- do.
....do.
. do .
....do .
....do .
- do .
- do .
Gold and sil¬
ver.
Gold...
....do.
....do.
.do.
. do.
..do.
Monetary unit.
Pound (100 piasters).
Mark..
Franc.
Mark. . . .
Pound sterling.
Drachma .
Gourde.
Rupee.
Lira....
Yen....
Dollar.
Peso . . .
Florin. .
Dollar. .
Crown .
Balboa.
Peso . . .
Kran.
Value
in
terms
of U.
money. I
Remarks.
$4. 943
.193
.193
.238
4. 8665
.193
The actual standard is the Brit¬
ish pound sterling, which is
legal tender for 97J pisaters.
Member of Latin Union: cold is
the actual standard.
Member of Latin Union; gold is
the actual standard.
Currency: Inconvertible paper;
$02941^ rate aPProxima^y
• ?244J| 15 rupees equal 1 pound sterling.
1Q* 1 Member of Latin Union; goldlj
the actual standard.
Currency: Depreciated silver
token coins. Customs duties
are collected in gold.
.965
.193
.498
1.000
.498
.402
1.014
.268
1.000
.435
.1704
Libra .
Peso .
i. 5000
rnn
Escudo . . .
. ouu
l rifin
Leu .
X. Uoy
i no
Ruble.... .
. loO
Cl r
Dollar .
. Olo
1 non
Dinar .
Ticai . ;; . v*
Peseta . . .
I. uuu
.193
.3708
1 no
• li/o
Dollar.
Crown . .
Franc . .
. 0077
.268
Piaster. . . .
Ail
Peso .
• U44
1 no 4
Bolivar.
1. U34
.193
Currency: Depreciated paper;
tSE???*0 I?te> x>55() I*r cent.
This is the value of the gold kran.
Currency is silver circulating
above its metallic value; ex¬
change value of silver kran,
approximately $0.0875.
Currency: Inconvertible paper;
$0 9394*ge mte aPProximately
\ aluation is for the gold peseta;
currency is silver circulating
above its metallic value; ex-
$0 1794 value aPPr°ximately
Member of Latin Union; gold is
the actual standard.
100 piasters equal to the Turkish
pound.
OPERATIONS OF THE MINT SERVICE.
Changes in the value of foreign coins during 1913.
75
Countries.
Argentine Republic*. .
Central American States
China .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do..... .
Do .
Paraguay .
Monetary unit.
Silver peso .
_ do .
Silver tael, Amoy .
Silver tael, Canton .
Silver tael, Cbefoo .
Silver tael,Chinkiang .
Silver tael, Foochow .
Silver tael, Haikwan (cus¬
toms).
Silver tael, Hankow .
Silver tael, Kiaochow .
Silver tael, Nanking .
Silver tael, Newchwang .
Silver tael, Ningpo .
Silver tael, Peking .
Silver tael, Shanghai .
Silver tael, Swatow .
Silver tael, Takau .
Silver tael, Tientsin .
Silver dollar (Yuan) .
Silver dollar, Hongkong .
Silver dollar, British .
Silver dollar, Mexican .
. Silver peso .
Value,
1913.
Jan. 1.
Apr. 1.
July 1.
Oct. 1.
SO. 965
.462
.758
.756
.725
.740
.701
.771
.709
$0.9647
.445
.729
.727
.596
.712
.674
.742
.682
SO. 9645
.436
.715
.713
.683
.698
.661
.727
.692
$0.9647
.435
.758
.756
.725
.740
.701
.771
.709
.734
.750
.722
• 750
.711
.684
.670
.711
.728
.701
.687
.728
.739
.711
.697
.739
.692
.666
.653
• 692
.700
.673
.660
.700
.762
.734
.719
.762
.734
.706
.692
• 734
.552
.531
.520
• 522
.498
.479
.470
. 498
.498
.479
.470
.498
.502
.483
.473
.502
.436
.435
The foregoing report, covering
assay offices of the United States
1913, is respectfully submitted.
the operations of the mints and
for the fiscal year ended June 30,
Geo. E. Roberts,
Director of the Mint .
Hon. W. G. McAdoo,
Secretary of the Treasury.
APPENDIX TO REPORT ON
THE OPERATIONS OF THE
MINT SERVICE.
77
78
REPORT OF THE DIRECTOR OF THE MINT,
No. 1. — Domestic production , deposits , and purchases of
Location and description of deposits.
Philadelphia.
San Fran¬
cisco.
Denver.
New York.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Alabama .
Alaska .
Arizona .
California .
Colorado . .
Georgia .
Idaho .
Montana .
Nevada .
New Mexico....
North Carolina.
Oklahoma .
Oregon .
South Carolina.
South Dakota. .
Texas .
Utah .
Virginia .
Washington....
Wyoming .
Porto Rico .
Philippines .
Other .
Fine ozs.
Fine ozs .
Total .
Domestic bullion, refinery bars. . .
Domestic bullion refined over 992.
Total .
Domestic coiii purchased .
Domestic coin transferred .
Foreign bullion unrefined .
Foreign bullion refined .
Foreign coin .
Philippine coins for recoinage .
Jewelers' bars, etc .
Deposit melting-room grains and sweeps . .
Deposit melting-room grains and sweeps,
New Orleans.
Deposits melting-room grains and sweeps,
New York.
Surplus bullion . . .
As sayers 7 proof bullion .
Gains on purchases .
Sweeps from Helena assay office .
Sweeps from Dead wood assay office .
Sweeps from Salt Lake City assay office..
Comets and proof gold .
287.628
4.398
575.250
39.782
237.095
62.801
27.671
795.330
4.842
6,548.205
230,672.518
111,123.125
217,650.241
81.954
277.453
7.075
34,698.503
2,411.196
31.826
4,232.966
7.684
26.376
4.500
116.944
8.776
24,728.721
8,635.788
626,027.072
1,859,756.567
8,635.788
1 14,450.297
43,746.885
995.326
2,485,783.639
522.804
27,555.010
250.368
61,920.346
110.823
69.462
268.535
92,116.118
10.209
11,251.993
56.511
Total.
Redeposits:
Fine bars .
Unparted bars.
Mint bars .
Total redeposits .
Total bullion operated upon.
392. 192
96.750
130,447.830
2,617,785.226
244,073.324
165.756
241,409.058
40,111.096
57.971
485.648.138
40,169.067
616,095.968
2,657,954.293
Fine ozs .
1.952
331.802
895.649
212.821
138,885.525
Fine ozs.
95.338
301.319
21.009
4.428
22.538
21.109
754.893
831.456
243,850.636
1, 160.335
10.594
44.602
483.998
34.693
3.961
548.519
388,051.436
415,323.513
145,025.935
948,400.884
16.252
65,870.002
3.302
5.614
4,875.930
200.692
145.126
114.725
61.623
12.741
1,019,706.891
773,802. 196
773,802. 196
1,793,509.087
127.881
19,241.882
89.489
176.901
17.960
.840
4.455
6.749
20, 131.898
44,724.719
1,509, 184.788
1,574,041.405
28,454.135
250,800.506
1,099,847.447
39,796.376
209,250.348
252.092
120.940
3,202,563.249
24.923
51,830.833
51,855.756
3,254,419.005
1 Includes annual assay coins 209.585 and special assay coins 63.902 fine ounces.
OPERATIONS OF THE MINT SERVICE
79
gold , by weight , during the fiscal year ended June 30 , 1913 .
New
Orleans.
Carson.
Boise.
Helena.
Char¬
lotte.
Dead-
wood.
Seattle.
Salt Lake
City.
Total.
Fine ozs .
Fine ozs .
Fine ozs .
Fine ozs.
Fine ozs.
671. 810
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
769. 100
404,837.767
112,062. 940
220,391.197
139,032. 068
575.404
41,265.864
73, 134. 776
321,235.971
22,818.255
6, 770. 735
176. 901
18,284.998
296.244
353, 234. 654
12. 712
15,479.899
7. 684
2,972.732
553.019
4.455
24, 735. 470
8. 776
16. 157 .
173, 228.343
18.759
242.062
8. 522
i, 645. ioo
52. 773
2. 269
5. 700.
311.500
35,256. 172
43,126
14.750
322. 947
70,460.311
338. 799
1,714.080
17.905
4,252. 799
51.057
8,330. 298
4. 202;
13,396.466
133.041
13,243.883
758.554
7.175
251.642
42.490
12. 712
352,690.206
17. 249
15,400. 741
106. 729
1,218.089
1,527.009
89. 783
35,041.566
'48,681.909
72, 100. 347
1,367.993
352,690.206
177,639. 732
28,302.891
1,758,661.621
460, 048. 232
3,513,967.290
89. 783 35,041.566
2. 129. 868 _
48,681.909
72,001.347
.662
1,367.993
352,690.206
177,639.732
21.914
28,302.891
5, 732, 677. 143
45, 595. 932
43, 746. 885
437,663.921
1,109,652. 978
132,171.546
10.209
291,219. 820
730. 708
69.462
268.535
392.192
362.816
2.079
114.725
61.623 -
12.741 -
1.309 -
/ -
40,867.412
233. 491
51,342.174
9, 802.229
3.070
2,434.032
17.022
6.959
16. 257
96. 080
29.498
117.563
6. 361
39. 931
3.706
729.324
20. 076
497. 314
8.096
9. 574
1
2. 079
1
:::::::::::
1.309
45,538. Ill
7 35, 064. 78!
2 48,807.487
f 72,359.424
: 1,416.009
352,699.780
239,557.528
28,808.301
7,794,754.624 -
244,098.247 <
865,909.881 <
241,467.029 <
1,351,475.157 a
45,538.117 35,064.78:
2 48,807. 481
I 72,359.4 24
1 1,416.009
352,699.780
239,557.528
28,808.301 9,146,229.781 l
1
2
3
4
5
6
7
8
9
1
2
3
4
5
6
7
s
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
2C
2;
2£
REPORT OF THE DIRECTOR OF THE MINT.
No. 2. — Domestic production , deposit ^ and purchases of
Location and description of de¬
posits.
Philadel¬
phia.
San Fran¬
cisco.
Denver.
New York.
New Or¬
leans.
Alabama .
$40.3,
) 6,858.91
J 18,514.7:
* 4, 399.41
l 2,871,018.61
5 81,970.8
3 6,228.8
l 434.31
) 91.5!
) 465.91
436.31
J .
j
Alaska .
So, 945. 8C
90.91
11,891.47
822.36
4,901.19
1,298.21
572.00
16,440.93
100.09
135,363.41
84, 768,424. ii
2,297,118.8;
4,499,229.71
1,694.14
2 8333.99
0 .
Arizona .
California .
3 176. 17
3 .
Colorado .
Georgia .
5 117.83
Idaho .
5, 735. 4f
146. 2t
717,281.70
49,843.85
> 15,605.0!
> 17, 187. 71
I 5,040,839.95
23,986.24
Montana .
Nevada .
! 2,643.8
l 397, 765. 0(
1, 849.91
3, 656. 81
i 86.86
) .
New Mexico .
North Carolina .
OVlahnmn
) .
Oregon .
657.90
87,503. 17
219.0C
922.01
10,005. 14
! .
South Carolina .
South Dakota .
371.27
’ 878.35
262. 78
Texas .
Utah .
545.24
717. 18
17.36
Virginia .
158.84
Washington .
2,417.45
81.88
11,338.88
Wyoming .
93.02
Philippines .
5li,188.02
92.09
139. 52
Other .
181.41
Total .
178,517.54
12,941,128.10
8,021,735.11
8,585,498.98
2,997,952. 15
416,163.27
924,541.99
31,197,618.35
1,855.98
Domestic bullion, refinery bars
Domestic bullion refined over 992.
38,444,580.19
Total .
178,517.54
298,714.12
904,328.38
20,575.21
51,385,708.29
10,807.32
19,605, 186.24
335.96
32,538,323.61
588, 199. 17
1,855.98
44,028.28
Domestic coin purchased .
Domestic coin transferred .
Foreign bullion unrefined .
569,612. 61
i, 361, 653. 78
68.25
116.06
5, i84,506.59
22,735,864.53
822,664.11
844,804.39
Foreign bullion refined .
Foreign coin .
5, 175.57
1,904,209. 16
211.04
232,599.34
1, 168. 19
Philippine coin for recoinage .
Jewelers* bars, etc .
1,280,007.15
2.290.91
1.435.91
5,551.11
i00,794.41
4, 148. 69
4,325,588.59
5,211.22
50,315.91
351.87
Deposit melting-room grains and
sweeps.
Deposit melting-room grains and
sweeps, New Orleans.
Deposit melting-room grains and
sweeps, New York.
Surplus bullion .
8, 107.32
2,000.00
Assayers’ proof bullion .
3,000.00
2,500.66
Gains on purchases .
Sweeps from Helena assay office
2, 371.58
1,273.86
263.39
Sweeps from Deadwood assay of¬
fice.
Sweeps from Salt Lake City assay
office.
Comets and proof gold .
Total .
2,696,595.90
54,114,423.27:
21,079,212.221
56,202,857.82
941,356.43
Redeposits:
Fine bars .
5,045,443.39
3,426.48
4,990,368.13
515. 20
TTnnorfoH Yvji*o
Mint bars .
829, 169.92:
1, 198. 37 .
15,995, 9il. 03
1,071,43S. 46 .
Total redeposits .
10,039,238.00
830,368.29 ]
15,995,911.03
1,071,953.66 .
Total bullion operated upon.
12, 735,833.90
54,944,791.56!
57,075, 123. 25 (
»7,274,S11.48|
941,356.43
OPERATIONS OF THE MINT SERVICE
81
gold , by value , during the fiscal year ended June 30, 1913.
$34,007.23
Carson.
Boise.
690,366.22
724,373.451,006,344.36
$728,809.75
891.49
304.91
273,775.36
356.57
2,206.28
Helena.
Char¬
lotte.
$13,887.54
Deadwood.
Seattle.
$6,675.91
1,456,543.89
6,439.28
2,750.20
25,180. 13
5,201.90
$3,580,946. 74
$7,290,753. 61
1,488,399.93
724,373.45
1,006,344.36
1,090.92
46.90
7,003. 61
35,433.18
370. 14
15,680.71
Salt Lake
City.
$387. 74
5,003.86
87,913. 16
1,055. 44
172,202.54
Total.
148.31
. | 318,361.57
3i*566.07 .
28,278.92
7,290,753. 61
1,488,399.93
13.68
143.86
336.06
724,853.37
1,986.15
609. 78
1,008,940.29
724,853.37,1,008,940.29
4,826.69
2, 430. 24
131. 49
28,278.92
1,495,802.03
1,495,802.03
63.47
’825.’ 45
76.61
7,290,753.61
197.91
27.06
29,271.51
29,271.51
3,672,138.27
3,672,138.27
453.01
1,061,336.91
202,630.05
15,076. 47
415.01
43.86
7,290,951.52
7,290,951.52
4,952,093.58
4,952,093.58
585,072.62
585,072.62
$15,898.70
8,368,738. 46
2,316,546.53
4,555,890.37
2,874,047.90
11,894.66
853,041.13
1,511,830.01
6,640,536.82
471,695. 18
139,963. 51
3,656.87
377,984. 45
6,123.91
7,302,008. 37
262. 78
319,997.92
158. 84
61,451.81
11, 431. 90
92.09
511,327.54
181.41
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
36,354,761. 16 24
9,510,040.97,25
72,640, 150.69 26
10,280.39
167.35
595,520.36
118,504,952.
942,551.
904,328.
9,047,316.
22,938,562.
2,732,228.
211.
6,020,047.
15,105.
1,435.
5,551.
27
28
29
30
31
32
33
34
8,107.
7,500.
43.
2,371.
1,273.
09 35
9136
1137
32 38
00 39
86 40
58 41
86 42
263.39 43
27.06
595,520. 36
161,131,878.30
5,045,958.59
17,899,945.89
4,991,566.50
27,937,470.98
189,069,349.
44
45
46
47
48
49
50
24950°— 14 - 6
1
2
3
4
5
6
7
8
9
10
11
12
13
REPORT OP THE DIRECTOR OF THE MINT.
No. 3. — Domestic production , deposits and purchases of
Location and description of deposits.
labama..
laska _
rizona...
alifomia.
olorado..
Georgia. ..
daho
iichigan.
iontana..
levada...
Jew Mexico.
>outh
south
Texas
Utah
Carolina.
Dakota.
Virginia....
Washington
Wyoming...
Porto Rico..
Philippines.
Other .
Total .
Domestic bullion, refinery bars . ”
Domestic bullion refined over 992 . ! !
Total .
Domestic coin purchased 2 .
Domestic coin transferred . * * '
Assay coin, Philippine . **
Foreign bullion unrefined .
F oreign bullion refined . . .
Foreign coin . ..!!!!!!!!!!!
Philippine coin for recoinage _
Jewelers * bars, etc .
Deposit melting-room grains and sweeps!
Deposit melting-room grains and sweeps/
New Orleans .
Deposit melting-room grains and sweeps.
New York .
Surplus bullion . !”! .
Assay ere* proof silver . !!!!!!!!!!!!
Gains on purchases
Sweeps from Helena assay office .
Sweeps from Dead wood assay office’.*!!!!!
Sweeps from Salt Lake City assay office!!!
Total .
Redeposits:
Fine bars .
Unparted bars . !!!!!! .
Mint bars . !.!!!!!!!! .
Total redeposits .
Total bullion operated upon .
Philadelphia.
Fine ozs .
35.67
170.20
87.04
11.21
26.63
19.36
7,919.90
.20
360.02
.60
1,952.28
3.18
1.43
*.*34
1.27
10,589.33
281,349.07
291,938.40
4,940.72
238,724.15
236.01
20,110.21
. 58! ii
93,093.54
174.34
89.71
442.14
355.46
650, 163.09
428,751.90
53.21
428,805.11
1,078,968.20
San
Francisco.
Fine ozs .
23,502.65
48,343.18
42,701.32
37.73
68.01
1.49
19,012.79
3,666.63
687.96
5.62
’24.78
5, 174.67
1 7.93
143,234.76
i52,538.i.7
295,772.93
89.31
169, 106.90
20.98
342,053.53
15,878.62
46.38
4,073.96
827,042.61
19,204.18
19,204.18
Sl6, 246. 79
Denver.
Fine ozs.
0.69
36.17
1,604.68
64.17
343,769.26
278. 13
1,521.29
32,379.59
3,851.56
2.65
8.46
59.76
454.77
.42
66.08
384,097.68
31, 140.00
500,823.84
916,061.52
177. 12
36,757.29
16,541.22
6,600.42
160.43
1,032.30
88.37
57.97
8.67
977,485.31
279,643.04
279,643.04
l/257, 128.35
New York.
Fine ozs.
10.81
32.99
659.90
.71
4.56
31.21
598.31
23.37
868,578.17
9.67
28.98
1.40
.13
5.17
1.50
869,986.88
120,397.40
334,880.56
1,325,264.84
376,011.38
5,984.88
16,929.66
452, 180.80
553.76
100.00
2, 177,025.32
3, 158. 15
27,938.04
31,096. 19
2,208, 121.51
1 From North Dakota,
OPERATIONS OF THE MINT SERVICE
83
silver, by weight, during the fiscal year ended June 30, 1913 .
New
Orleans.
Carson.
Boise.
Helena.
Char¬
lotte.
Dead-
wood.
Seattle.
Salt Lake
City.
1 Total.
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
154 25
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
165. 75
48,354. 31
50,786.66
43,096. 07
343,823. 10
95.79
12,037.60
8,518. 21
43,483.28
75, 248. 76
876,096. 96
1,978.28
28.98
11,995.54
26. 24
159,872.93
3.20
1,090. 91
1. 43
1,256.71
66.42
5. 17
5,176. 17
9.20
2.49
24,744 34
8.70
88.80
.94
142. 15
10.94
.34
9.65
28. 30
11,177.40
52.89
69.79
372. 02
3. 49
21. 94
41,728. 37
220.19
7.12
6,927.53
1.66
16,514. 74
16.33
11,003. 74
297.13
.88
17.78
10.05
3. 20
159,801. 72
40.52
589. 87
114. 85
477. 52
639.14
27.99
16,656.89
22,361. 94
42,258. 78
216.66
159,801.72
25,988. 99
7,996.05
1,683,217.67
432,886.47
988,242.57
27.99
16,656. 89
22,361. 94
42,258.78
216.66
159,801.72
25,988. 99
7,996.05
3, 104,346.71
5,207.15
275, 481. 44
236.01
618,230.34
5.984.88
17,009.82
342,053.53
569,919. 37
1.237.89
89.71
442. 14
5,461.72
100.00
17.23
88. 37
57.97
8.67
23,275.83
43.68
i3, 141. 12
.77
i,250.8C
10.20
14.54
1 88. 58
29. 49
157.25
55.37
3.27
13. 74
23. 78
2191
2.03
14. 96
1 •••••••••••
, ...........
. .
. . .
. . .
.
. .
• ••••••••*
. .
IT. 23
24,564.82
16,760.01
22,548.68
42,361. 10
254.95
159,816.68
39,537.29
8,413.09 |
4,945,972. 95
.
• ..........
.
• ••••••••*
. .
r §
. .
431,910.05
326,838.47
.
. ..........
• . .
.
7o8, 748. oz
24,564.82
■ 16,760.01
22,548. 68
" 42, 361. lo"
j 254.95"
159,816. 68
39,537.29
8,413.09
5,704,721. 47
s Includes annual assay coins, 269.49; special assay coinb, <4.9
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
84
REPORT OF THE DIRECTOR OF THE MINT
No. 4. — Domestic 'production, deposits and purchases of silver, by
Location and description of deposits.
Philadelphia.
San
Francisco.
Denver.
New York.
Alabama. . . .
80. 9 1
5 $14.94
Alaska .
$49.31
$32,490. 27
50. 0(
) 45. 61
Arizona .
235. 29
06,830.04
2,218. s:
88. 71
l 912.25
California .
120.32
59,030.08
52. 10
1 .98
Colorado .
15.50
475,229. 6(
> 6.30
Georgia .
36. 81
43. 14
) .
Idaho . „ .
26. 76
94.02
384. 5C
Michigan..
10,948.54
.28
827. 11
[ .
Montana .
2.06
2,103.04
44,761.83
5,324. 43
Nevada .
497. 69
26,283. 45
5,068.78
32.31
New Mexico .
.83
1,200,730.14
13. 37
North Carolina .
2,698.85
1 Oklahoma .
40.06
1 Oregon .
4.40
951.04
3. 67
5 South Carolina .
11.70
> South Dakota .
82.62
1.94
7 Texas .
3 Utah .
7.77
628.67
.18
9 Virginia .
1.98
0 Washington .
34.25
.58
1 Wyoming .
.47
91.35
2 Porto Rico .
7.15
2.07
3 Philippines .
7,153. 51
10.96
4 Other .
1.76
£ Total .
14,638.79
388,939.44
198,008.99
530,980.03
43,048.22
692,343. 30
1,202,677.55
166,438.43
462,941.85
!6 Domestic bullion, refinery bars .
57 Domestic bullion refined over 992 .
210,870.11
8 Total .
403,578.23
6,830.08
330,014.39
326. 26
408,879.10
123.46
1,266,371.55
244.84
50,813.60
1,832,057.83
19 Domestic coin purchased .
10 Domestic coin transferred .
11 Assay coins, Philippines .
12 Foreign bullion unrefined .
27,800.53
233,774.87
22,866.72
519,801.46
8 273 55
33 Foreign bullion refined .
34 Foreign coin .
80. 75
29.00
472,857.81
21,950.74
04. 12
23,403.71
35 Philippine coin for recoinage .
36 Jewelers’ bars, etc .
128,693.33
241.00
124.02
9,124. 49
221. 77
625,098. 74
765.52
37 Deposit melting-room grains and sweeps. . .
38 Deposit melting-room grains and sweeps,
New Orleans.
39 Deposit^melting-room grains and sweeps,
40 Surplus bullion .
611.22
491.39
5,631.88
1,427.06
41 Assay ers’ proof silver .
138. 24
42 Gains on purchases .
43 Sweeps from Helena assay office. . .
122. 16
80.14
11.99
44 Sweeps from Dead wood assay office
45 Sweeps from Salt Lake City assay office. . . .
46 Total .
«qe 701 on
1,143,310. 98
1,351,284.32
3,009,539.05
Redeposits:
47 Fine bars .
OvOj I i/ll 4-V
592,710.42
4,365.86
38,621.79
48 U nparted bars .
49 Mint bars .
73.57
26,548.02
386,581.03
50 Total redeposits. . .
592 7R3 QO
26,548.02
386,581.03
42,987.65
51 Total bullion operated upon
1,491,575. 19
1,109,859.00
1,737,865.35
3,052,526.70
OPERATIONS OF THE MINT SERVICE.
subsidiary coinage value, during the fiscal year ended June SO, 1913.
85
86
REPORT OP THE DIRECTOR OP THE MINT.
No. 5.~ Mutilated and uncurrent domestic coins received for
Denomination.
Double eagles .
Eagles .
Half eagles _
3-dollar pieces. .
Quarter eagles.
Dollars.
Trade dollars _
Standard dollars.
Half dollars.
Quarter dollars.
20-cent pieces.
Dimes .
Half dimes.
3-cent pieces.
f>-ccnt.
3-cent.
1-cent.
2-cent.
1-cent.
1-cent copper.
Gold coins.
Silver coins.
Nickel coins,
Bronze coins
Philadelphia.
Gold coining value .
Silver, subsidiary value
Nickel coining value. . . .
Bronze coining value. . .
Copper coining value . .
Loss, gold . . .
Loss, silver . . .
Gain, silver . * .
Loss, nickel . . .
Loss, bronze . . .
Loss, copper . ’’’ .
OPERATIONS OF THE MINT SERVICE
87
recoinage during the fiscal year ended June 30, 1913.
888888
88
REPORT OF THE DIRECTOR OF THE MINT
Xo. 6. — Assets and liabilities of the United
ASSETS.
Institutions.
Gold bullion.
Silver bullion.
Quantity.
Value.
Quantity.
Value.
Coinage mints:
Philadelphia .
San Francisco .
Bullion for Philippine coinage.
Denver . .
Assay offices:
&ew Y ork .
New Orleans .
Carson .
Helena .
Boise .
Dead wood .
Seattle .
Salt Lake Citv .
Total .
FH %e otmeer.
325.226.S40
6, 492, 636. 123
$6,723,034.81
134,214. 700.15
Fine ounces.
1,075.512.50
510,903.00
$751,063.41
303,060.58
3.948,518. 196
1. 179.02S.SS0
606.549
23.837
36.929
4.S3S
1.176.947
48.783
27.908
SI. 623. 115. 16
24.372,690.05
12.540.12
492.78
762.98
100. 05
24.329.02
1,008.42
576.95
S91,65S.56
959.100.11
20.29
10. 13
13.31
5.00
2.421.12
8. S6
.34
530. 150.90
530. {*>4.56
13. OS
1.84
6. « <
2.98
L 434. 97
5.31 :
.20 |
11.947.333. S30 246.973.350.49
3.439,653.22
2, 116. 704. 00
LIABILITIES,
Institutions.
Bullion fund.
Undeposit M
earnings.
Seigniorage
on silver.
Unpaid de¬
positors.
Coinage mints:
Philadelphia, .
$429,411,201.01
215,580.656.08
493, 473. 637. 12
27.746, 767.33
22.558.839. IS
93.952.16
45. 1 72. 78
138,585.86
3S3.6S2.ro
1,878.976.42
SI. 534. 32
$3,530.31
11.S20.96
$7,712.14
501,857.78
San Francisco .
Denver .
$4S,531.24
Assav office:
New A’ ork, .
1,556.47
73.79
New Orleans .
Carson .
Helena .
2.32
Boise .
. v .
Deadwood. .
. ;; .
Seattle .
. . .
Salt Lake Citv .
. ::::::::::::::::
Total .
1. 191.393, 004. 76
15.353.59
48,531.24 511.300. IS
OPERATIONS OF THE MINT SERVICE
89
States mints and assay offices, June SO, 1913.
ASSETS.
Gold coin.
Silver coin.
Credit with
Treasurer
United States.
Minor coin.
Minor coin¬
age metal.
Total.
$313,477,206.50
15,910,800.00
$107,484,700.35
61,834,389. 10
$986, 438. 39
3, 879,964.31
$1,021,330.52
91,000.03
$55, 864. 62
4,914.25
1,564. 93
27,245.83
$430,499,638.60
216,238,828. 42
1,564.93
493,712, 787. 13
407,531,012.50
3, 165,289.41
624,069. 15
2,844,669.19
71,359. 77
92,960. 44
44, 403. 03
138,482.83
357,918.51
1,877,962. 69
80,957.17
211,904. 18
27,748,323.80
22,558,912.97
93,954. 48
45, 172. 78
138,585.86
383,682.50
1,878,976. 42
81,534.32
22,475,000.00
19.42
480.00
736,919,499.00
194,959,398. 28
10,999, 185.48
1,324,234.73
89,589. 63
1,193,381,962.21
LIABILITIES.
Minor coinage
profits.
Minor coin metal
fund.
Treasurer
United States.
Government of the
Philippine Islands.
Total.
$155,359. 41
32,753.65
2,661.65
$61,515.00
10, 148. 82
33,313.24
$860,320. 73
53,011.81
203, 175. 12
»
3430,499,638.00
216,240,393.35
493, 712, 787. 13
27,748,323.80
22,558,912. 97
93,954. 48
45, 172. 78
138,585.86
383,682.50
1,878,976. 42
81,534.32
SI, 013. 01
190,774.71
104,977. 00
1,116,507. 66
1,613.01
1,193,381,962.21
90
REPORT OP THE DIRECTOR OF THE MINT.
N°- 7 .—Earnings and expenditures of the United States
EARNINGS AND GAINS.
Items.
Mints.
Philadelphia.
San Francisco
. Denver.
Charges for parting and refining.
Fine bar charge . .
Melting charge .
$7,200.01
2,279.01
$42,589.55
113.62
8,673.00
5,241.19
$89,324.63
8.77
4,391.10
2,092.96
Charges loTaffo'y ' " ! " " .
C harges for assaying and stamping
4,271.00
125.01
6.00
790,819.78
2,818,274.13
1,263. 16
Seigniorage on minor coinage.
Seigniorage on recoinage of minor coin
227, 79i. 87
189,253.32
599,863.52
575,729.42
r run is on meaais ana proof coins
2,971.07
9, 625. 57
t harges for manufacture of medals
Deposit melting room grains and sweeps
Surplus bull ion recovered . .
. Proceedssateof S3SSSX"tot f°rC°iuag° . : ■
3,522.54
217.80
i, 526. 05
10,517.84
5,6i3.87
613.77
Receipts for special assays of bullion and ore
Charges for work done for other institutions
L harges received for coinage for— .
Philippine Government. . .
Costa Rica . .
and mutilated United States gold *
Receipts for sale of by-products .
Surplus bullion recovered, minor coinage .
552.00
4,435.86
2,775.04'
66. 71
26.00
27,318.29
3,614.35
10.45
10.00
122.35
"5, "648.39 ’
Total .
3,648,441.47
517,707.11
1,283,418.78
EXPENDITURES AND LOSSES.
Salaries of officers and clerks
W ages of workmen. . . .
Contingent expenses, less amount to reimburse wastage
and loss on sweeps sold 6
W astage of operative departments
"ooenftions operatlve departments, minor coinage'
$71,552.84
300, 170.30
70,392. 19
1,684.48
1,395.73
233.04
12,574.76
$48, 262. 57
116,208.55
20,610.05
98.50
10S.38
1,213.10
254.70
$45, 2S4. 73
90,047.78
33,432.73
815. 92
315.71
1.652.91
11,863.49
Loss on sweeps sold during the year .
Expenses of distributing minor coins
Loss on bullion shipped to mint for coinage
5,211.40
6,330.88 .
Loss on recoinage, minor coinage .
X UUil. . .
409, 545. 62
192,761.85
183,413.27
OPERATIONS OF THE MINT SERVICE
91
mints and assay offices for the fiscal year 1913.
EARNINGS AND GAINS.
Assay offices.
1
Total.
New York.
New
Orleans.
Carson.
Helena.
Boise.
Char¬
lotte.
Dead-
wood.
Seattle.
Salt
Lake.
$60,292. 45
33, 594. G2
16,557.74
6,112. 10
$199, 406.64
36,005.14
39,775. 84
15,291.34
24,219. 45
1,618,475.17
3,583,256.87
1,263.16
2,971.07
9,625.57
33,279. 15
11,349.41
739. 27
1,713.66
3,496. 40
4,558.21
27,318.29
2,775.04
66.71
69,735.03
10. 45
$9.12
572.00
88.34
1,465.63
$891.00
72.54
1,340. 15
$671.00
152.23
2,341.84
$979.00
112.97
1,986.56
$144.00
2.97
157. 84
$694. 00
726. 42
9,262.98
$1,628.00
503.58
6, 779. 24
$304. 00
61.03
879.21
11,568.51
2,517.40
418.33
3,202.65
711.63
118.09
1,810.02
1,752.61
517.45
257.21
127.00
214.00
128.58
70.50
151.00
49.65
186.07
117. 76
447.80
237.00
i, 544. 66
21.60
118.05
528. 75
94.00
00,472.29
i
190, 141.71
5,250.70
3,072. 10
6,438.97
3,908.21
1,107.70
13,208.24
10,875. 19
1,761.69
5,685,331.87
EXPENDITURES AND LOSSES.
$49,542.20
77,715.81
$7,900.00
7,079. 70
$6,350.00
4,779. 50
$8,800.00
5, 194. 75
$8,045. 83
3,290.00
$1,500.00
896.91
$6, 106. 61
2,994.99
$13,050.00
14,695.25
$7, 100. 00
3,467. 50
$273,494.78
626,541.04
45,435. 94
15,145.90
2, 104. 49
2,037.02
2,884.8 8
2,323.44
206. 63
1,488.37
4,827.05
3,302. 48
195,051.27
17,744.86
1,819.82
7,032.61
24,692.95
215. 97
3,933.56
.
103. 16
22. 47
90. 34
1,451.57
979.38
1,620.50
1, 103. 13
35.05
3,804.00
8,802.65
688.55
23,696. 23
6,330.88
-
191,773.47
18,535. 76
14, 145.90
18,500. 13
14,865. 56
2,661.06
14,393.97
41,374.95
14,648. 87
1,176,620.41
92
REPORT OF THE DIRECTOR OF THE MINT
No. 8. — Imports and exports of gold and
[Compiled by Bureau of Statistics.]
IMPORTS, BY CUSTOMS DISTRICTS OR PORTS.
Customs districts or ports.
Atlantic coast districts:
Baltimore, Md .
Bangor, Me .
Boston and Charlestown.
Mass .
Bridgeport, Conn .
New York, N. Y .
Perth Amboy, N. J .
Philadelphia, Pa .
Porto Rico .
Providence, R. 1 .
Gulf coast districts:
Mobile, Ala .
New Orleans, La .
Tampa, Fla .
Mexican border districts:
Arizona.
Brazos de Santiago, Tex. .
Corpus Christi, Tex .
Paso del Norte, Tex .
Saluria, Tex .
Pacific coast districts:
Alaska .
Puget Sound, Wash .
San Diego, Cal .
San Francisco, Cal .
Northern border districts:
Buffalo Creek, N. Y .
Cape Vincent, N. Y .
Champlain, N. Y .
Chicago, Ill .
Detroit, Mich .
Huron, Mich .
Niagara, N. Y .
North and South Dakota.
Oswegatchie, N. Y .
Superoir, Mich .
Vermont .
Gold.
Ore and
base bul-
ion.
Value.
$17,923
1,351,371
605, 724
62
748,219
Bullion, refined.
Ounces.
150
1,393,528
Value.
Coin.
United
States.
Value.
$3,000
28,803,116
21
683,258
50,843
Interior ports: Denver, Colo.
Total .
RECAPITULATION.
Atlantic coast districts. . . .
Gulf coast districts .
Mexican border districts. .
Pacific coast districts .
Northern border districts.
Interior ports .
495,712
4,059, 139
6,640
474,791
1,145,327
60,360
28, 782
438, 500
356, 151
41,919
9S0, S3S
470, 150
12,015,739
1,975, 0S0
748, 219
734, 101
5,036,282
3, 522* 057
13,835
104,402
13,183
16,314
17,449
1,807
233,259
61,986
S3, 334
5
6,950
25,903
1,962, 131
1,393, 67S
21
156,990
37S, 579
32,8(33
420
i 76,695
2,088,289
219, 969
337,210
349,060
36,245
3,745,316
1,210,247
1,725, 748
98
139,000
4S1,946
99
39, 216, 45S
28,806,116
3, 107,408
6,681,311
621,143
$1,988
2,302, 194
. 6,' 700
Foreign.
Value.
S2, 128
97
1,539,691
15,110
150,114
27,000
571,247
90,031
112,059
10,602,366
‘“56,'i36
984
12,360
14,047
13,941,240
2,310,SS2
150, 114
688,278
10,791,966
149,400
' U2, 51$
1,651,405
5,200
205, 709
276,326
Total
gold.
Value.
$17,923
7,116
97
33,996,372
605, 724
15, 172
6,700
420
74S, 219
150,114
2,997,642
219,969
449,758
399, 903
36,245
4, 268, 02S
5,840,633
6, 640
3,941,975
1,262,586
62,784
190
4,020,5SS
1,557,026
261,948
1,651,405
550,209
10,868,435
305,206
627, 650
356, 151
587, 663
993,198
470, 150
14,336
69,194,025
34,649,104
89S, 753
4,103,517
14,057,276
15,485,375
OPERATIONS OF THE MINT SERVICE
93
silver — year ending June SO, 1913.
[Compiled by Bureau of Statistics.]
IMPORTS, BY CUSTOMS DISTRICTS OR PORTS.
Silver.
Ore and base
bullion.
Value.
Bullion, refined.
Ounces.
$12,537
5,018
5,428,561
3,437,995
232
15,296, 444
9,282
2,992,746
201, 154
187
353,504
561, 143
2, 181,134
415
379,333
710, 149
1,913,761
234, 176
6,996
1,127,750
18, 150
19,574,223
8,884,343
9,282
3,193,900
914,834
6,553,714
18,150
i 149,026
3,676, 157
816, 109
4, 407, 787
2,566, 781
400, 606
624,025
'i’ 255* 897
1,622,077
10,663
30,825,572
15,296,444
12,016, 466
1,879,922
1,632, 740
Value.
Coin.
United
States.
Value.
$9,091,840
$11,698
10, 131
1 88, 082 \
2,007,123 /
507,016
2,667,040
1,551,491
259, 195
386,470
749,347
1,002,790
5,504
18,315,898
9,091,840
7,079,947
1,135,817
1,008,294
124, 153
4,369
2,500
19,480
300
97
612,935
*‘*2, '500
434, 725
4,180
127, 628
Foreign.
Value.
$105
370
268,696
”i4*495
212,218
428,280
495,471
11,990
426, 284
83,325
12, 170
35,838
1,912,313
152,851
19, 780
97
615,435
1,124, 150
33,688
769
1,466,082
283,666
212,218
428, 280
495, 471
46, 447
Total silver.
Total gold and
silver.
Value.
$12,537
11,803
10,501
5,018
14,913,250
3,437,995
18, 864
2,500
232
240,980
300
5,087,951
507,016
3,095,320
1,752, 742
259, 195
187
1,352,909
1,808, 461
2,627, 849
4,180
161,731
379,333
426,284
710, 149
3,000,645
246,346
6,996
1, 127,750
41,342
18, 150
41,268,516
18,412,700
241,280
10, 702, 224
3,161,557
8,732,605
18, 150
Value.
$30,460
18,919
10,598
5,018
48,909,622
4,043,719
34,036
9,200
232
420
989, 199
150, 414
8,085,593
726,985
3,545,078
2, 152,645
295,440
4,268,215
7, 193,542
6, 640
5,750, 436
3,890,435
4,180
11,030,166
684,539
1,053,934
1,066,300
3,588,308
1,239,544
6,996
1,597,900
55,678
18, 150
110,462,541
53,061,804
1,140,033
14,805,741
17,218, 833
24, 217,980
18,15a
94
REPORT OF THE DIRECTOR OF THE MINT,
No. 9. — Imports and exports of gold and silver , by countries , and by customs
IMPORTS, BY COUNTRIES.
Gold.
Countries.
Europe:
Belgium .
France .
Germany .
Greece . .
Italy . . .
Netherlands . .
Roil mania . .
Russia in Europe . .
Servia and Montenegro. . .
Spain . .
United Kingdom— Eng¬
land .
North America:
Bermuda .
British Honduras .
Canada —
Nova Scotia, New
Brunswick, etc. ...
Quebec, Ontario, etc
British Columbia. . . .
Central American States—
Costa Rica .
Guatemala .
Honduras .
Nicaragua .
Panama .
Salvador .
Mexico .
West Indies —
British—
Barbades .
Jamaica .
Trinidad and To¬
bago .
Other British...
Cuba .
Danish West Indies
Dutch West Indies.
French West Indies
Haiti .
Santo Domingo .
South America:
Argentina .
Brazil .
Chile .
Colombia .
Ecuador .
Peru .
Venezuela .
Asia:
China .
Chosen (Korea) .
Japan .
Oceania:
Australia and Tasmania.
Philippine Islands. . . .
Africa: German Africa....
Total.
RECAPITULATION.
Europe .
North America.
South America.
Asia .
Oceania .
Africa .
Ore and
base bul-
ion.
Value.
$7,288
5
15,989
18,478
Bullion, refined.
Ounces.
71
7,005
23,957
2,766
3,005,545
5,004, 160
202,219
11,570
14,417
633,642
27,810
2,902,698
99,486
1,508
33,316
248
470
23,624
2,000
8,500
12,015,739
41,760
11,804,827
134,558
24,094
10,500
753
17
1,238
1,848
448,578
150
266, 120
62, 276
20,726
37
11,524
2,487
2,913
65, 163
841,956
95
28
243
21
21
1,296
5, 138
129,074
13,380
6,336
2,116
8,303
39,261
1,962, 131
483,467
1,273, 760
157,340
8,303
39,261
Value.
$1,478
144,812
495,229
15,522
350
25,619
38,224
9,273,007
3,000
4,366,423
1,216,247
428,622
7C1
238, 175
51,443
60, 188
1,350,039
17,267,036
1,962
574
5,026
420
444
26,771
106,243
2,664,210
276,623
130,970
43,795
171,644
811,578
39,216,458
9,994,241
24,990,383
3,248,612
171,644
811,578
Coin.
United
States.
Value.
$386,000
***88,939
11,141
676,752
952
6,238
10,814,716
571,247
70,000
. 7*666'
68,636
429, 124
41,080
10,048
190, 121
15, 540
23,382
16,764
59,000
Foreign.
Value.
$885, 151
19
Total
gold.
Value.
$1,478
1,423,251
495,234
88,939
19
52,494
24,344
9,503
261,308
4,695
278,833
68, 183
202,000
21,075
148,907
14,395
13,941,240
1,162,832
12,323,848
440, 165
14,395
29,995
4,527
770
361,473
16,394
1,912
304
5,220
5,4i5
2, 185
430, 246
1,645,800
4,020,588
937,664
994,058
443,066
1,645,800
15,522
350
25,619
65,354
10,020,731
25,296
21,507
18,447,992
6, 791,654
700,841
12,354
264,287
685, 085
87,998
1,350,039
20,517, 203
1,962
459, 693
50,633
11,238
552,038
15,540
39,776
18,676
59,000
304
26, 771
5,220
205, 729
2,739,316
511,939
154,478
622,948
14,865
23,624
1,817, 444
813,578
8,500
69, 194,025
12, 136,497
50,113,116
4,266,401
1,855,933
822,078
OPERATIONS OF THE MINT SERVICE
95
districts or ports , and summary of, during the year ended June 30, 1913.
IMPORTS, BY COUNTRIES.
Silver.
0r? k356 Bullion, refined,
bullion. 1
Value.
Ounces.
Value.
$5,059
* 16,247
30,483
62,958
30,210
3,109
33,053
28, 335
4,759
216,349
28, 738
5,963,590
517,520
1,632,740
624,025
1,008,294
386,470
25
14,051
455, 116
4,000
1,366,920
261,545
2,140
815, 120
7,596 j
117,084:
. 7i,457
11,' 865,' 605
2i, 633, 919
12,800,054
$18,205
37,874
18, 115
1,912
2,957
131,376
17,578
1,054
879
81,385
otr>, is™
153,098
54,573
3,471,876
132
1,022 | .
293,026
289,756
7,843
82.694 I 376,606
18,368,619 25,834,219
1,047,333 4,031,965
1,154 293,026
7,843 289,756
66,580 1
88, 780
29,930
2,083,776
158,467
168,647
$23,264
44,379
44,313
13,012
. 2
1,912
68
2,957
164,715
174,043
872
5,528
65,033
8,099,752
1,516,925
387,037
5, 165
945, 449
24,092
79,053
228,017
15,345,336
2,415,431
158, 467
168,647
25,569,579
1,250
18,113
11,501
81,788
7,000
5,571
3,497
11,022
14,263
1,162,697
100.973
30,809
2, 165. 161
62,602
10,660
1,022
170,367
176,490
66, 580
468,665
36.838,227
3) 536j 50d
182,049
176,490
66,580
Total gold and
silver.
Value.
$24, 742
1,467,630
539,547
101,951
19
2
17,434
418
28,576
230,069
10, 194, 774
26, 168
5,528
86,540
26,547,744
8,308,579
1,087,878
17,519
1,209,736
709, 177
167,051
1,350,039
46,086,782
3,212
477,806
50,633
22,739
633,826
22,540
45,347
22,173
70,022
304
41,034
5,220
1,368,426
2,840,289
542,748
2,319,639
685,550
25,525
24,646
1,987,811
990,068
8, oOO
66,580
12,605, 162
86,951,343
7,802,906
2,037,982
998, 568
66,580
96
REPORT OF THE DIRECTOR OF THE MINT,
No. 10. — Imports and exports of gold
DOMESTIC EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS.
Countries and customs districts.
COUNTRIES.
Europe:
Belgium .
France .
Germany....
Netherlands.
United Kingdom — England.
North America:
British Honduras .
Canada—
Nova Scotia, New Bruns¬
wick, etc .
Quebec, Ontario, etc. ..
British Columbia .
Central American States—
Costa Rica .
Guatemala .
Honduras .
Nicaragua.. .
Panama .
Salvador .
Mexico .
West Indies —
British—
Trinidad and Tobago
Other British. . .
Cuba .
Dutch West Indies’.!’
French West Indies.!!
Haiti .
Santo Domingo ..”
South America:
Argentina .
Brazil . .
Colombia .
Guiana— British. . .
Venezuela .
Asia: .
China .
East I nd ies-^Br i t ish India
Hongkong ....
Oceania: .
Philippine Islands .
Total.
CUSTOMS DISTRICTS.
Atlantic coast districts:
Bangor, Me .
New York, N. Y .
Philadelphia, Pa .
Gulf coast districts:
New Orleans. La .
Mexican border districts:
Corpus Christ i, Tex. . .
Paso del Norte, Tex...
1 acme coast districts:
Alaska .
Hawaii. !!!!!! !! ! ! !
Puget Sound. ..!!!!!’
San Francisco . !!!
Gold.
Ore and base
bullion.
Value.
Bullion, refined.
$275,476
331,956
600
60S, 032
203,083
"330,656
600
Ounces.
1 32,024
i 1,920,675
1 34,000
176
19,864
24.097
7,272
5,001
125
2
2,033,236
176
1 1,986,699
2,539
’4,733
5.128
Value.
$661,044
39,553,486
714,000
Coin.
Value.
$750,000
1,500
Total gold.
Value.
$661,044
39,553,486
1,464,000
1,500
3,656
203.270
484. 234
132,815
103,350
2.600
43
65,250
14
9,340,686
34,917
139,000
16.000
14,500
304,000
4,385
7,358
28,945
17.500
105,750
5,000
4,000
187,500
45.500
20,985,000
517,800
10,000
i, 645, 226
65,250
3,670
10,303,666
499,688
139,000
16,000
14,500
304,000
4,385
7,358
28, 945
17.500
105,750
5,000
4,000
187,500
45.500
20,985,000
517,800
10,000
”i,’ 645,’ 226*
103,350
41,858, 498
3.656
40,928,530
39,900
92, 9is
105.993
1 United States mint or assay office bars
7, 190
1,000
10,390
1,043
34,238,021 76,704,551
14
24,598,639
10,000
243,750
6,000
34,917
4,015
3,670
65,527, 169
10,000
243, 750
242. 9S3
6.000
458, 48S
110,608
OPERATIONS OF THE MINT SERVICE
97
and silver — Year ended June SO, 1913.
DOMESTIC EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS.
Sflver.
Total gold and
silver.
Ore and base
bullion.
Bullion, refined.
Coin.
Total silver.
Value.
Ounces.
Value.
Value.'
Value.
Value.
SI, 200
$1,200
7,147,329
$662,244
1 187, 961
11,458,242
$114,259 .
7,033,070 .
46, 700,815
. {
l
)
1,464,000
1,500
47,325,106
1
i 132,691
76,730,675
80,319
47,244,787
] 47,325,106
J
$1,000
1,000
66,250
250
162
162
3,832
4,806
124 022
i 61,500
814,353
37,120
485,088
| 88,638
76, 194
615,652
200,216
10,919,318
699,904
31,326
20,000
20.000
20,000
155,790
18,110
24,000
308,000
4,385
7,392
| .
16,790
16, 790
2,110
2,110
I .
9,500
9,500
.
4,000
4,000
o
57
o
3
3
8,514
15,920
28,948
A1 4
•
.
100
8,450
15,920
zo,U14
121,670
5,000
. V .
.
4,000
187, 500
j- -- ------ -------
. .
.
20,975
20,975
66,475
12,271
.
. - .
4,660
, .
3,610,067
2,998,481
12,602,762
7,909
. .
. 2,99i"
2,222,200
1,832,882
7,730, 145
7,909
20,992,909
. 26*
. 3,6i.7
2,222,200
517,800
10,000
3,017
1,645,226
2,325,550
1,832,882
1,832,882
7, 730, 145
7,740,535
. *
.1.
.
.
1,043
130,031
108,645,399
66,811,027
243,606
67,181,664
143,889,215
250
162
162
3,832
1,20C
/ >320,652
’ \ 88,288,282
194,578
54,340,821
} 45,374
54,581,973
120,109,142
10,000
33,400
33,400
277, 150
57
31
31
3
31
3
242, 9S3
6,000
658, 704
11,863,835
124,02
11,753,227
i 1 11
****••■•• |
24950°— 14 - 7
98
REPORT OF THE DIRECTOR OF THE MINT
No. 10. — Imports and exports of gold
DOMESTIC EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS.
Countries and customs districts.
Gold.
Ore and base
bullion.
Bullion, refined.
Coin.
Total gold.
Value.
Ounces.
Value.
Value.
Value.
CUSTOMS DISTRICTS.
Northern border districts:
Buffalo Creek, N. Y _
/ 19,864
\ 9,834
8203,270
202,239
| 8600,000
7,725,908
81,005,509
7,798,730
Champlain, N.Y .
$72,822
Detroit, Mich .
Huron, Mich .
603
39
350
11,295
11,083
804
7,280
224,208
10,000
50
604
21,083
854
7,884
224,208
MemDhremago e , Vt .
Minnesota .
Niagara, N. Y
Oswegatchie, N. Y
Vermont .
871
1,976
38,620
1,004,124
1,043,615
Total .
608,032
2,033,236
41,858, 498
34,238,021
76,704,551
RECAPITULATION.
Atlantic coast districts .
1,986,875
40,932,186
24.608,653
243, 750
65,540,839
243, 750
Gulf coast districts .
Mexican border districts .
Pacific coast districts .
634,339
73,693
12,400
33,961
oo
44,932
9,340,686
818,079
10,101,883
Northern border districts .
i United States mint or assay office bars.
OPERATIONS OF THE MINT SERVICE
99
and silver - Year ended June 30, 1913- Continued.
domestic exports, by countries and by customs districts.
Silver.
Total gold and
silver.
Ore and base
bullion.
Bullion, refined.
Coin.
Total silver.
Value.
Ounces.
Value.
Value.
Value.
Value.
$4,681
,*«•••••••••••■■
161,344
283,996
5,042
$37,022
170,398
3,258
$3,753
41,429
$211,173
46,110
3,258
$1,216,682
7, 844,840
3,258
21,083
1,532
7,951
335,086
125
1,286,978
) i 156
\ 971
100
193,536
580
66
110,878
> . 7
67
110,878
125
243,363
125
330,708
199,908
130,031
108,645,399
66,811,027
243,606
67,184,664
143,889,215
1,200
88,609,184
54,535,561
45,374
33,400
76,194
88,638
54,582,135
33,400
34
11,953,443
615,652
120,122,974
277, 150
34
12,771,522
10, 717,535
3
124,022
4,806
57
19,160,305
875,853
31
11,753,227
522,208
No. 11. — Imports and exports of gold and silver year ended June SO, 1913.
FOREIGN EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS.
100
REPORT OF THE DIRECTOR OF THE MINT.
556
OPERATIONS OF THE MINT SERVICE,
101
102 REPORT OF THE DIRECTOR OF THE MINT.
No. 12. — Seigniorage on the coinage of subsidiary silver and minor coin and its
tion during the fiscal year 1913.
BALANCES AND SEIGNIORAGE
Silver seigniorage bal¬
ance on hand July 1,
1912:
Philadelphia . $139, 728. 00
Denver . 76,998.83
Total . $216,726.83
Seigniorage on subsidi¬
ary silver:
Philadelphia..
San Francisco .
Denver .
790,819.78
227,791.87
599,863.52
Total . 1,618,475.17
Minor coin seigniorage
balance on hand July
1, 1912:
Philadelphia . 3,175.97
San Francisco . 160.11
Denver . 46,823.01
Total .
Seigniorage on minor
coin:
• Philadelphia . 2,819,537.29
San Francisco . 189,253.32
Denver . 575, 729. 42
50,159.09
Total . 3,584,520.03
Total . 5,469,881.12
DEPOSITED IN THE TREASURY
Silver coin seigniorage
deposited in Treasu¬
ry:
Philadelphia . $930, 547. 78
San Francisco . 179, 260. 63
Denver . 676,862.35
$1,
Total .
Minor coin seigniorage
deposited in Treasu-
° Philadelphia . 2,653,383.36
San Francisco . 156,572.08
Denver . 607,711.58
Total . 3j
Expense of distributing
minor coin:
Philadelphia .
San Francisco ....
Denver .
12,574.76
87.70
11,863. 49
Total .
Minor coin wastage:
Philadelphia....
Denver .
1,395.73
315.71
Total .
Balance silver seignior¬
age on hand July 1,
1913:
San Francisco .
Balance minor coin
seigniorage on hand
July 1, 1913:
Philadelphia .
San Francisco .
Denver .
155,359.41
32,753.65
2,661.65
Total.
Total . 5,
distribu -
786,670.76
417,667.02
24,525.95
1,711.44
48,531.24
190,774.71
469,881.12
OPERATIONS OF THE MINT SEEVICE,
ioa
No. 13 .—Average price of an ounce of gold in London and equivalent value in United
States since 1870.
Calendar year.
Average Lon¬
don price.
Equivalent
value in
United States
gold coin of
an ounce of
gold, British
standard
(0.916J).
I
Value in
United States
gold coin of
an ounce
1,000 fine.
Per cent
premium
above Bank
of Eng¬
land’s mini¬
mum rate.
£ i. d.
1870 .
3 17 9.01
S1A91S7
S20.63S
0.00106
1871 .
3 17 9.01
18.9187
20.638
.00106
VStl .
3 17 9.24
18.9233
20.613
.02571
1873 .
1874 .
3 17 9.28
3 17 9.00
18-9241
18.9185
18.9231
20.644
20.638
20.643
.03000
1873 .
3 17 9.23
-02431
1876 .
3 17 9.30
18.9246
20.645
.03215
1877 .
3 17 9 .42
18.9270
20.647
.04501
1878 .
3 17 9.41
18.9268
20.647
.04394
1879 .
317 9.11
18.9207
20.640
.01178
18*0 . .
3 17 9. 15
IS. 9215
20.641
.01607
1881 .
3 17 9.35
18.9256
20.646
.03751
l$ffi .
3 17 9.43
18.9272
20.647
.04607
1883 .
3 17 9. 18
18. 9221
20.642
.01920
1884 .
3 17 9.32
18-9250
20.645
.03429
1885 .
3 17 9.17
18.9219
20.642
.01821
1886 .
3 17 9. 10
18.9205
20.640
.01071
m 7 .
3 17 9.01
18.9187
2a 638
.00106
1888 .
3 17 9.21
18.9227
20.642
.01804
1889 .
3 17 9.04
18.9193
20.639
.00428
1890 .
3 17 9 .44
18.9274
20. 648
.04715
1891 .
3 17 10.29
18.9446
20.666
.13826
1892 .
3 17 10. 17
18.9422
20.664
.12542
1893 .
3 17 10.57
18.9503
20.673
.16826
1894 .
3 17 9.33
18.9256
20.646
.03747
1895 .
3 17 9.03
18.9191
20.639
.00324
1896 .
3 17 10. 16
18.9420
20.664
.12433
1897 .
3 17 11.23
18.9637
20.688
.23901
189* .
3 17 10.46
18.9481
20.670
. 1564S
1899 .
3 17 9.27
18.9240
20.644
.02936
1900 .
3 17 9.91
18.9371
20.658
.09870
1901 .
3 17 9.83
18.9356
20.657
.09078
1902 .
3 17 9.55
18.9300
20.650
.05951
1903 .
3 17 10.06
18. 9404
20.662
.11570
1904 .
3 17 9.94
18.9380
20.659
.10337
1905 .
3 17 9.42
18.9272
20.648
.04639
1906 .
3 17 9.82
18-9355
20.657
.09008
1907 .
3 17 9.95
18.9381
20.660
.10359
1908 .
3 17 10. 19
18.9429
20.665
.12935
1909...
3 17 9.18
18.9224
20.642
.02062
1910....
3 17 9.03
18-9192
20.639
.00408
1911...
3 17 9.00
18.9188
20.638
.00182
1912 . .
3 17 9.00
18.9187
20.638
.00130
Mint price .
3 17 10.50
18.9491
20.671
20.638
.16208
Bank pri« . .
3 17 9.00
18.91S5
No. 14 _ Bullion value of the silver dollar [S71\ grains of pure silver] at the annual
average price of silver each year from 1837.
Calendar yea i.
Value.
Calendar year
Value.
Calendar year.
Value.
Calendar year.
Value.
1*37....
1*38....
1*39...
1840. .
1*41.. '
1842.. .'
1843.. .
1844.. .'
1845.. '
1846.. !'
1847..
1848.
1849.
1850. "
1851.. "
1852.. ;;
1853.
1*54..;;
1855..
S1.009
1856 .
1.008
1857 .
1.028
1858 .
1.023
1859 .
1.018
1860 .
1.007
1861 .
1.003
1862 .
1.008
1863 .
1.004
1864 .
1 045
1865 .
1.011
1866 .
1.008
1867 .
1.013
1868 .
1.018
1869 .
1.034
1870.
1.025
1871
1.042
1872 .
1.042
1873 .
1.039
1874 .
11.039
1.046
1.039
1.052
1.045
1.031
1.041
1.040
1.040
1.035
1.036
1.027
1.025
1.024
1.027
1. 025
1.022
1.00368
.98909
1875..
1876..
1877..
1878..
1879..
1880..
1881..
1882..
1883..
1884..
1885..
1886..
1887..
1888..
1889..
1890..
1891..
1892. .
1893..
SO. 96086
.90039
.92958
.89222
.86928
.88504
.87575
.87833
.85754
.85904
.82379
.76931 |
.75755 !
.72683
.72325
.80927
.70416
.67401
.60351
1894.
1895.
1896.
1897.
1898.
1S99.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
190$.
1909.
1910.
1911.
1912.
SO. 49097
.50587
.52257
.46745
.45040
.46525
.47958
.46093
.40635
.41960
.44763
.47200
.52353
.51104
.41371
.40231
.41825
.41709
.47543
104
REPOST OP THE DIRECTOR OP THE MINT.
OPERATIONS OF THE MINT SERVICE.
No. 15. — Coinage of nations.
Countries.
1911
Gold.
9, 547,469
*93*266
48.347, 716
124,368
986,390
United States . $56, 176,823
Philippine Islands .
Abyssinia .
Austria-Hungary .
Belgium .
Brazil .
British Empire:
Australasia .
British East Africa and
Uganda .
Canada . 1,250,428
Ceylon .
Great Britain . i6i, 062, 453
Guiana (British) . | .
Honduras ( British) . 1 .
Hongkong . .
India . .
Newfoundland .
Sarawak .
Straits Settlements
Bulgaria . .
Chile . .
China . .
Colombia . .
Costa Rica . .
Denmark . .
Ecuador . .
Egypt .
Finland . .
France . .
French colonies:
Indo-China . .
Tunis . .
Germany . .
German East Africa (colony of)
Greece . . .
Honduras
Italy . 193,000
Italian Somaliland .
Japan . 14,820,480
Mexico .
Morocco .
Netherlands . 3, 113, 667
Nicaragua .
Dutch East Indies
Norway .
Persia .
Peru . 266,340
Portugal .
Portuguese India
Russia . 515,085
Roumania. . .
San Salvador
Spain .
Sweden .
Switzerland . 1,544,000
Travancore .
Turkey . 22, 724, 870
Venezuela . 424, 090
Silver (coin¬
ing value.)
Total .
Recoinage (see Tables 20 and 21)
Net coinage .
621,460
24,846,092
249
25,485,309
372,143, 555
$6,457,302
463,270
401, 440
9,547,071
2,445,889
3,645,727
1,707, 105
75,000
985, 679
200,000
11,021,247
2,433
9,500
31,446,858
6,538, 830
100,000
15,000
40,007
Fine ounces
consumed.
136, 464
36,349, 759
847,600
150,534
1,630,709
59,444
1, 197,903
699,054
386,349
9,672,003
528,805
942, 191
45
650,336
4,272,761
335,118
301,460
6,302,006
1,701,049
1, 715,370
1,179,830
22,500
683,814
60,000
7,076, 676
1,261
6,566
24,528,549
6,816, 142
69,375
12,539
20,954
73,525
34, 159,879
454, 173
104,868
4,446,568
1,712,000
3,078, 667
1,125,600
1,310, 707
37,866
833, 109
506, 689
268,696
6,532,666
560,290
655,268
33
455,426
1912
Gold.
$17,498,523
Silver.
4,993,229
53*268
46,540,291
1,477, 710
162,687,479
241,443
996,858
43,655, 764
$7,340,995
465,500
10,000
8,313,251
1,737,000
1,726,998
1,212,795
95,000
278,550
32,443
12, 705,458
Fine ounces
silver con¬
sumed.
14,274,810
42,731,174
100,000
310,860
34,355, 162
829,200
53,556
106, 907
6,818
834,909
249
32,481,248
4,650,409
1,276,918
2, 186,384
840, 555
562,800
111,220
474,641
45,253
2,585,311
979, 152
1,522,101
55, 361
16,683
386,000
40,555
862,275
1,798,541
148, 156,282
583, 793
78,375
773, 160
49,831
1,625,795
813, 165
1,001,051
38,502
11,987
268,453
42,969
628,824
1,308,502
117,237,838
350
448,428
14, 720,880
14,411,778
320,356
3,860, 193
300,000
193,350
8, 185,438
162,217
5,510,292
470,836
7,490
2,749,424
1,208,036
915,214
838,261
28,500
193, 244
29,989
6,782,201
11,134,352
45,275,375
69,375
16,113
52,077,305
512,638
30,993
75,695
10, 127
633,553
2,123,000
17,441,528
579,000
360,671,382
34,763,434
325,907,948
2,071
1, 96S, 031
210,882
2,430,406
1,220, 100
6,828, 794
321,600
268,000
4,020,000
221, 100
1,173,576
51,585
476,852
195, 717
6,593,920
1,928,070
300,000
298,072
386,000
68,492
756, 167
1,351,000
171,293,019
22,542,797
148, 750,222
2, 684,659
204,421
134,469
5,528,592
171,875
1,390
1,368, 711
223,438
2,560,520
1,621,322
4, 996, S50
232,920
175, 135
2,974,835
157,322
357,271
76, 677
296, 187
603,259
5, 339, 4S0
1,340,920
201,337
212,981
268,452
73,046
551.975
836, 35S
161,763,415
18,830, 557
142,932, 85S
OPERATIONS OF THE MINT SERVICE
105
j^0 _ Deposits of gold at United States mints and assay offices since 1873.
106
' REPORT OF THE DIRECTOR OF THE MINT.
No. 17. Deposits of silver at United States mints and assay offices since 1885
Character of silver deposited.
Fiscal year ended
June 30 —
1885
1886,
1887,
1888,
1889
1890
1891
1892
1893.
1894.
1895.
1896.
1897.
1898.
1899
1900,
1901
1902
1903
1904
1905
1906
1907
1908
1909,
1910.
1911
1912.
1913.
Total
Domestic
bullion.
Domestic
coin.
Foreign
bullion.
Foreign coin.
Surplus bul¬
lion, grains,
jewelers'
bars, old
plate, etc.
Total.
Fine ounces.
24,943,394
25, 101, 639
29, 293, 372
28,921,649
29, 606, 387
29, 187, 135
50,667,116
56,817,548
56,976,082
15, 2%, 815
6,809,626
4,420,770
3,914,985
2, 116, 690
5,584,912
4,977, 978
2, 466, 749
1,425,060
12,523,630
9,991,187
4, 923, 655
2,398,871
20,388, 163
16,114,553
5,375,389
1,547, 145
3, 220, 236
5,635,513
3, 104,347
Fine ounces.
678, 741
216, 015
5,848,585
1,202,177
394, 346
466, 302
637, 652
5,036, 246
6,346, 912
5,012,060
3,015,905
3, 170, 768
2, 208, 953
1,243,050
6,060,986
3,587,992
2,613,570
2, 275, 090
•2,511,911
! 2, 072, 397
4 1,337, 242
« 960, 801
770, 269
786,085
659,935
548, 821
393,906
>2 459, 141
280,688
Fine ounces.
1,627, 619
1,145, 017
1,127, 213
1,290,390
1,063,900
1,852, 155
1,767,908
1,556, 618
1,738,711
994,901
1,362,141
680,757
626,085
209,987
716,077
1,088,019
1,306, 149
1,152,023
1,110, 463
1,361,701
1,906,410
3, 165, 170
2,552,003
2,963,399
2, 326, 847
1, 172, 240
799, 105
957,233
624, 215
Fine ounces.
867,856
628,545
271,166
67,549
328, 276
951,162
1,970, 912
349, 652
505, 171
422, 725
15, 291
150,942
101, 157
* 6,808
19,382
44,704
4,250,196
29,265
21,869
3 4,039,100
6 7, 796, 761
7 1,348,991
8 4, 963, 403
9 9, 005, 007
10 7,342,229
1,404,882
“ 627, 840
is 235,229
14 359, 299
Fine ounces.
336,981
361,316
396, 656
485,190
502,223
526, 270
633,073
572,661
582, 728
467, 958
580,125
604,386
473, 755
249, 468
484, 751
557,831
567, 647
575,430
627, 108
652,015
739,310
632,544
636, 722
648,007
520, 715
460,935
498, 614
540,117
577,423
Fine ounces.
28,454,591
27, 452,532
36,936,992
31,966,955
31,895,132
32,983,024
55,676,661
64,332,725
65, 149, 604
22, 194, 459
11,783,088
9,027,623
7,324,935
3,826,003
12, 866, 108
10,256,524
11,204,311
5, 456, 868
16,794,981
18,116, 400
16,703,378
8,506,377
29,310,560
29,517,051
16,225,115
5, 134,023
5,639,701
7,827,233
4,945,972
463, 750, 596
59,796,546
40,244,456
48,125,369
15,491,959
627,408,926
1 Includes 461,686 line ounces Hawaiian coin.
2 Includes 148.788 fine ounces Hawaiian coin.
2 Includes 6,901 fine ounces Philippine special assay coins.
4 Includes 3,647 fine ounces Hawaiian coin.
I Includes 3,456 fine ounces Philippine special assay coins.
6 Includes 3,895 fine ounces Hawaiian coin.
I Includes 2,663 fine ounces Philippine special assay coins.
8 Includes 4,680,791 fine ounces Pnilippine coins.
io ^ assay °9ins and 8,866 622 fine ounces Philippine coins for recomace
i fine ounces Philippme assay coins and 7,314,573 fine ounces Philippine coins for recoiWe
*» Includes 447 toe o” 311(1 ta° ouncea ****** coins for
u ™ «ne ounces ^lippjne assay coins and 227,127 toe ounces PhiUppine coins for recomace
14 Includes 236 toe ounces Philippine assay coins and 312,053 toe ounces Philippine coins for recoinafe.'
OPERATIONS OF THE MINT SERVICE
107
jg, — Coinage of gold and silver of the United Slates since 1873, by fiscal years.
Pljcal yearn.
1873.. .
1874.. .
1875..
1870..
1877..
1878..
187V#. .
1880. .
1881..
1882. .
1883..
1881..
1885..
1885..
1887..
1888..
18811. .
1890..
1891..
1892..
1893..
1894..
1895..
1895..
1897..
1898..
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1905.
1907.
1908.
1909.
1910.
1911.
1912.
1913.
Gold.
Fine ounces.
Value.
Total.
1,705,187
2,440.155
1,523,173
1,845,907
2,132,283
2,554,151
1,982,742
2,715,530
3,808,751
4,325,375
1,738,449
1,351,250
1,202,557
1,648,493
1,083,275
1,372,117
1,235,587
1,065,302
1,159,330
1,717,650
1,453,095
4,812,099
2,125,282
2,848,247
3,465,909
3,126,712
5,233,071
5,221,458
4,792,304
2,998.313
2,211,791
10,091,929
3.809.211
2,503,976
4,279,701
9,541,405
5.233.212
2,301,628
5,753,022
616,737
1,454,067
122,712,744
135,249,337.00
60,442,690.00
33, 553, 965.00
38,178,953.00
44,078, 199. Of)
52,798,980.00
40,986,912.00
56,157,735.00
78,733,864.00
89,413,447.00
35,936,928.00
27,932,824.00
24,861,123.00
34,077.380.00
22,393.279.00
28,364,171.00
25,543,910.00
22,021,748.00
24,172,203.00
35, 505, 987. 00
30,088,140.00
99,474,913.00
43,933,475.00
58,878,490.00
71,545,705.00
54,634,865.00
108,177,180.00
107,937, 110. Of)
99,065,715.00
61,980,572.00
45, 721, 773.00
208,618,042.00
79,983,592.00
53,002,097.50
79,622,337.50
197,238,377.50.
108,180,092.50
47,578,875.00
118,925.512.50
12,749,090.00
30,058,227.50
2,527,850,527.00
Silver.
Fine ounce*
consumed.
2,179,833
4,558,526
7,550,003
14,228,851
21,239.880
21.623.702
21,059,046
21,611,294
21,383,92))
21,488,148
22,266,171
22.220.702
22,290,827
23,211,225
26,52.5,276
26,331,176
28,659,493
28,430,092
29,498,927
11,259,863
9,353,787
4,358,299
6,810,196
8,651,384
18,659,623
12,426,024
20,966,979
23,464,817
26,726,641
22, 756, 781
19,705,162
13,396,894
6,600,068
2.905.340
9,385,454
11,957,734
8,024,984
3,108,753
2,311,709
6,984.479
2.494.341
Dollars coined.
1977,150
3.588. 900
5,697,500
6, 132,050
9. 162. 900
19,951,510
27,227,500
27,933,750
27,037,955
27,772,075
28,111,119
28,099.930
28,528,552
29,838.905
33,266,831
32,718,673
33,793.860
35,923,816
36,232,802
8,329,467
5,343,715
758
3,956,011
7,500,822
21,203,701
10,002.780
18,254.709
18,294,984
24,298,850
19,402,800
17,972,785
10,101,650
310
636, 772,407
607,259,120
Subsidiary
coined.
$1,968,645.50
2.394.701.39
4,372,868.00
12,994,452.50
19,387,035.00
8.339.315.50
382.50
8,687.50
12,011.75
U, 313. 75
724,351.15
673, 457. 80
326,407.65
1W, 442. 95
1,099,652.75
1.417.422.25
721 , 686. 40
892,020. 70
2,039,218.35
0,659,811.00
7,217,220.90
6,024,140.30
5,113,469.00
3,939,819.20
3,124,085. 65
6,482.804.00
9,466,877. 65
12,876,849.15
10.966.648.50
10,713,569.45
8,023,751.25
7,719,231.00
9,123,000.00
4,016,368.10
12,074,534.25
16.530.477.25
11,093,810.00
4.297.567.25
3.195.726.40
9.655.405.25
3,448.199.75
230,225,100.49
No. 19. — Coinage of OuminUofttu
and fineness, del discontinuing same, and amount corned J
since organization , 1792 to Jurce SO, 1913. - -
Denomination.
GOLD COINS.
Doable eagle ($20).
Kaglc ($10) .
Half eagle ($5) .
Quarter eagle ($2.50) -
Three-Collar piece . - .
One dollar .
One dollar, Louisiana
„ I'urcha** Exposition.
Dollar, LewU arid Clark
Kxporttion.
Total gold .
Act authorizing coinage or
change in weight or fine¬
ness.
Mar. 3, 1849 .
Apr. . . .
June 2 H, . .
Jan. 18, . .
Apr. 2,1792 .
June . . .
Jan. . . .
Apr. 2, 1792 . .
June 28, 1834 . - .
Jan. 18,1837.. . . .
Feb. 21, 1653 <«* <“"2'
tinning coinage Sept. Zo,
vS! 1649
coinage Sept. 26, 1800).
June 28, 1902 .
Apr. 13, 1904 .
Wright fineness,
(grains).
516
270
258
135
129
67.5
64.5
77.4
25.8
25.8
25.8
900
9161
899225
900
91
900
91
900
900
900
900
900
Pieces.
Total amount
coined to June
30, 1913.
118,091,456
50,420,339
76,500,669
16,390,373
539,792
19,499,337
250,000
60,000
281,751.966
$2,361 ,829,1 20. 00
504,203,390.00
382,503,345.00
40,975,932.50
1,619,376.00
19,499,337.00
250.000.00
60,000.00
3,310,940,500.50
108
REPORT OF THE DIRECTOR OF THE MINT,
Coinage of the mints of the United States, authority for coining, changes in weight
ana fineness, act discontinuing same, and amount coined for each denomination of coin
since organization, 1792 to June SO, 1913— Continued.
Denomination.
Act authorizing coinage or
change in weight or fine¬
ness.
Weight
(grains).
Fineness
Pieces.
Total amount
coined to June
30, 1913.
SILVER COINS.
Dollar .
Apr. 2, 1792..
416
412J
8924
900
Jail. 18, 1837 (act discontinu¬
ing coinage Feb. 12, 1873).
Feb. 28, 1878 .
-1 578, 303, 848
1 $578, 303, 848.00
July 14, 1890 .
l raae dollar * .
Lafayette dollar .
F eb. 12, 1873 (act discontinu¬
ing coinage Feb. 19, 1887).
Mar. 3, 1899 _
420
412J
208
206J
192
900
900
8924
900
35,965,924
50,000
35,965,924.00
50,000.00
Half dollar .
Apr. 2, 1792
Jan. 18, 1837 .
Feb. 21,1853 .
• 377,318,385
188,659,192.50
Columbian half dollar...
Feb. 12, 1873 .
a 192.9
Aug. 5, 1892 .
192.9
104
103|
96
900
8924
900
p; onn nnn
4 2, 500, 000. 00
Quarter dollar .
Apr. 2, 1792 .
wl/| uuu
Jan. 18, 1837 .
■ 398.613,045
Feb. 21, 1853 .
99,653,261.25
Columbian quarter dol-
Feb. 12, 1873 .
6 96. 45
Mar. 3, 1893 .
96. 45
900
4H nnn
10,000.00
lar.
“vj uuu
Twenty-cent piece. . .
Dime .
Mar. 3, 1875 (act discontinu¬
ing coinage May 2, 1S78).
Apr. 2, 1792
8 77.16
41.6
414
900
1,355,000
1
271,000.00
Jan. 18, 1837 .
S924
O nn
I
Feb. 21, 1853 .
■tiy
38.4
JUU
) 681,298,270
68,129,827.00
Half dime
Feb. 12, 1873 .
A nr O 1 TfiO
7 38, 58
Apr. 1 i[)J .
Jan. 18, 1837 .
20.8
20j
19.2
8924
onn
. Q7 OQO
4,880,219.40
Feb. 21, 1853 (act discontinu¬
*7\JU
, IXn, ooo
Three-cen t piece .
ing coinage Feb. 12, 1873).
Mar. 3, 1851 _
12|
11.52
750
900
1
Total silver .
Mar. 3, 1853 (act discontinu¬
ing coinage Feb. 12, 1873).
] 42,736,240
1,282.087.20
2 9ift 9ft t; inn
070 7or oca or
fc, ilO, 400, 1UU
y^y* 7U5» u59. u5
MINOR COIN.
Five-cen t (nickel) . . .
May 16, 1866 .
77.16
30
96
264
208
/8\
7QA 91 Q AflO
$39,010,924.60
941,349.48
912,020.00
Three-cent (nickel).
Two-cent (bronze) _
Cent (copper) .
Mar. 3, 1865 (act discontinu¬
ing coinage Sept. 26, 1890).
Apr. 22, 1864 (act discon turn¬
ing coinage Feb. 12, 1873).
Apr. 2, 1792 .
(»)
O’)
i OUt 6lOy iifJ
31,378,316
45,601,000
Jan. 14, 1793 .
156, 28S,744
1,562,8S7. 44
Jan. 26, 1796 10 (act discontin¬
168
Cent (nickel) .
uing coinage Feb. 21 , 1857).
Feb. 21,1857 (act discontin¬
uing coinage Apr. 22, 1864).
Apr. 22, 1864 .
72
48
132
<")
(»)
200,772,000
!.181,285,573
2,007,720.00
21,812,855.73
Cent (bronze) .
Ualf-cent (copper) .
Apr. 2, 1792 .
Jan. 14, 1793 .
104
7,9S5, 222
39,926.11
Jan. 26, 1796 10 (act discontin¬
84
Total minor .
uing coinage Feb. 21, 1857).
4fVJ t:OQ 0J7
66,287,683.36
Total coinage .
9 *VA), t ai 4
CkV? 41*1 J
,356.933,543.21
. aw, DOO, ilo 4
1 Amount coined to Feb. 12, 1873, $3,031,238.
Silver-doliar coinage under acts of—
Apr. 2. 1792 .
Feb. 28, 1878 . .
Julv 14, 1890 . .
Mai*. 3, 1891 . ; . .
$378,166,793
... 187.027,345
5,078,472
$8,031,238
Total .
• Coinage limited to export demand, joint resolution Julv 22 1876
• 13} grams, or 192.9 grains.
4 Total amount coined.
4 6* grams, or 96.45 grains.
• 5 grams, or 77.16 grains.
• 2* grams, or 38.58 grains.
• Composed of 75 per cent copper and 25 per cent nit
• Composed of 95 per cent copper and 5 per cent tin and tine
? i>ro£^m?li?n of the President, in conformity with act of
11 Composed of 88 per cent copper and 12 per cent nickel.
570,272,610
578,303,848
Mar. 3, 1795.
OPERATIONS OF THE MINT SERVICE
109
The foreign gold and silver corns melted by the countries of the
world during the calendar years 1910, 1911, and 1912, so far as have
been reported to this bureau, are exhibited in the following table:
No. 20. — Foreign coins melted by various countries.
Countries.
1910
1911
1912
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
United States .
$2,666,390
$885,699
$9,550,494
7,037
$5,049
$1,298,696
$21,071
942, 191
9,726,989
94,689
19,820
Germany .
Japan .
55, 173
100
132
995,079
679,974
42,057
165,336
Turkey .
9,728,345
15,463,348
li, 332, 527
176
Total .
22,236,233
941,104
26,015,958
1,627,214
12,673,280
186,583
The following table, compiled from official sources, exhibits
approximately the gold and silver corns withdrawal by the pracipal
countries of the world in the calendar year 1912, so far as has been
reported to this bureau:
No. 21.— Recoinages of the world.
Countries (1912).
Gold.
Silver.
Value.
Value.
Fine ounces.1
$2,656,800
112,640
7,595
$620,843
181,019
11,408
1,737,000
88,763
426,647
118,862
7,181
1,208,036
58,500
Austria-Hungary .
.
.
Belgium .
.
3,675,345
15,329,475
2,648,359
8,921,714
690,923
3,029,652
433,893
271,532
28,006
2,322, 479
606,020
33,668
49,601
544, 360
136, 974
1,738,973
8,981,187
456,493
2,432,512
650,336
419,786
19, 151
1,306,406
531,737
23,022
32,771
320,068
98,889
Great Britain .
India (British) .
Italy .
Japan .
=
.
Morocco .
Norway . - .
Russia .
Roumania .
. - .
.
. 138’
Switzerland .
Turkey .
Egypt .
:::: .
.
22, 140, 154
22,356, 214
18,830.557
1 5 per cent has been deducted for abrasion.
110
REPORT OF THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United
[Coinage of the mint at Charlotte, N. C., from its organization, 1838, to its suspension, 1861. Abolished
June 30, 1913.)
Calendar years.
Gold.
Total value.
Half eagles.
Quarter eagles.
Dollars.
1S38 to 1861 .
$4,405,135
$544,915
$109, 138
$5, 059, 188
[Coinage of the mint at Carson City from it
Calendar years.
Gold.
Silver.
Double eagles.
Eagles.
Half eagles.
Dollars.
Trade dollars.
1870 to 1893 .
$17, 283,560
$2,997,780
$3,548,085
$13,881,329
$4,211,400
[Coinage of the mint at New Orleans from its organization, 1838, to
Calendar years.
Gold.
Silver.
Double
eagles.
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dollars.
Dollars.
1838 to 1900 .
$16,375,500
$19,804,320
$4, 447,625
$72,000
$3,023,157.50
$1,004,000
$144,395,529
12,590,000
13,320,000
8, 636,000
4,450,000
3,720,000
1900 .
1901 .
1009
720,410
1903 .
1,127,710
1,089,500
1904 .
1905
1906!!!!!!!!!!!!!!!!
1907 .
1908 .
1909 .
ni,ooo
Total .
16,375,500
23,610,890
4,618,625
72,000
3,023,157. 50
1,004,000
187,111,529
OPERATIONS OF THE MINT SERVICE
111
Slates from their organization, by calendar years.
[Coinage of the mint at Dahlonega, Ga., from its organization, 1838, to its suspension, 1861.]
Calendar years.
Gold.
Total value.
Half eagles.
Three dollars.
Quarter eagles.
Dollars.
103ft to 1861 .
$5,536,055
$3,360
$494,625
$72,529
$6, 106,569
organization, 1870, to its suspension, June 30, 1893.]
Silver.
Total coinage.
Total value.
Half dollars.
Quarter dol¬
lars.
Twenty
cents.
Dimes.
Gold.
Silver.
$2,654,313.50
$2,579, 198.00
$28,658.00
$2,090,110.80
$23,829,425.00
$25,445,009.30
$49,274,434.30
its suspension, 1861, and from its reopening, 1879, to April, 1909.]
Silver.
Total coinage.
Total value.
Half
dollars.
Quarter
dollars.
Dimes.
Half
dimes.
Three
cents.
Gold.
Silver.
$28, 720,038
1,372,000
562,000
1,263,000
1,050,000
558,800
252,500
1,223,000
1,973,300
2,680,000
462,700
$7,452,250
854,000
403,000
1,187,000
875,000
614,000
307,500
514,000
1,140,000
1,561,000
178,000
$3,262,590.60
201,000.00
562,000.00
450,000.00
818,000.00
$812,327,50
$21,600
$44,726,602.50
720,410.66
i, i27, 7io. 66
1,089,500.00
$184,664,335.10
15,017,000.00
14,847,000.00
11,536,000.00
7, 193,000.00
4,892,800.00
900,000.00
1,998,000.00
3,619, 100.00
4,419,900.00
869,400.00
$229,390,937.60
15,017,000.00
15,567,410.00
11,536,000.00
8,320,710.00
5,982,300.00
900,000.00
2,866,950.00
3,619, 100.00
4,419,900.00
1,040,400.00
340,666.66
261,000.00
505,800.00
178,900.00
228,700.00
868,950.66
m, 006.66
40,117,338
15,085,750
6,807,990.60
812,327.50
21,600
48, 704, 172. 50
249,956,535. 10
298, 660,707.60
112
REPORT OF THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United States
[Coinage of the mint at San Francisco from
Calendar
years.
Gold.
Silver.
Double
eagles.
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dol¬
lars.
Dollars.
Trade
dollars.
Half
dollars.
1854-1900.
1900 .
1901 .
1902 .
1903 .
1904 .
$929, 075, 02C
49, 190, OOt
31,920,00C
35,072,50C
19,080,00(1
102,683,500
36,260,000
41,315,000
43,316,000
440,000
55,498,500
42,565,000
15,515,000
>$74,122,060
810,000
28,127,500
4,695,000
5,380,000
.
$78,244,540
1,645,000
18,240,000
4,695,000
9,275,000
485,000
4,403,500
2,990,000
$186,300
$1,861,255
$90,232
$98,624,073
3,540,000
2,284,000
1,530,000
1,241,000
2,304,000
$26,647,000
$20,575,031.50
1,280, 161.00
423,522.00
730,335.00
960,386.00
276,519.00
1,247,000.00
870,077.00
625,000.00
822,414.00
882,000.00
974,000.00
636,000.00
685,000.00
t *
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
1912 .
3.692.500
4,570,000
2,105,000
598,500
2.923.500
8,110,000
510,000
3,000,000
410,000
1,480,000
3,851,000
7,080,000
1,960,000
Total.
1,401,930,520
138,644,060
134,765,040
186,300
1,861,255
90,2321
109,523,073
26,647,000:
10,987,445.50
Calendar years.
Minor coinage.
Five cents.
1908 .
1909 .
1910 .
.
.
.
.
1911 .
1912 .
Tots
ll .
. . .
.
ii.966.66
11,900.00
OPERATIONS OF THE MINT SERVICE.
113
from their organization , by calendar years — Continued.
its organization, 1854, to Dec. 31, 1912.]
Silver.
Quarter
dollars.
Twenty
cents.
$8,322,569.
464,646.
18, 166,
3S1, 153.
259,000,
$231,000
471,000.00
340,000.
195,000.
337,000.
247,000.
177,000.
11,213,534.25
231,000
Dimes.
$4,798,728.
516,827.
59,302.
207,000.
61,330.
80,000.
685,519.
31-3,664.
317,847.
322,000.
100,000.
124,000.
352,000.
342,000.
80
00
20
00
00
00
90
00
00
00
00
00
00
00
$119, 100
8,280,218. 90
Half
dimes.
119, 100
Total coinage.
Gold.
$1,083,579, 407
51,645,000
78.287.500
44. 462. 500
33,735,000
103,168,500
44,356,000
48,875.000
45,421,000
1,448,500
59,908,000
54,526,000
23,105,000
4,960,000
1,677, 477, 407
Silver.
$159,317,502.30
5,801,634.25
2,784,990.20
2,848,488.00
2,521,716. 00
2,660,519.00
2,403,519. 90
1,183,741.00
1,282,847.00
1,340,414.00
1,319,000.00
1,098,000.00
1,235,000.00
1,204,000.00
187,001,371.65
Minor.
$11,150.00
26, 180.00
60, 450.00
40,260. 00
56,210.00
194, 250.00
Total value.
$1,242,896,909.30
57,446, 634.25
81,072, 490.20
47,310, 988.00
36, 256, 716. 00
105,829, 019. 00
46, 759, 519. 90
50,058, 741.00
46, 703, 847. 00
2, 800, 064.00
61,253, 180.00
55,684, 450.00
24,380,260.00
6,220, 210.00
1,864,673,028. 65
Minor coinage.
Three cents.
Two cents.
Cents.
$11,150.00
26, 180. 00
60, 450. 00
40, 260. 00
44,310. 00
182,350.00
Half cents.
Total.
$11,150. 00
26, 180. 00
60, 450. 00
40, 260. 00
56, 210. 00
194, 250.00
24950°— 14 - 8
114
REPORT OF THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United States
[Coinage of the mint at Philadelphia from
Gold coinage.
Calendar years.
Double
eagles.
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dollars.
1793 to 1900 .
$522,641,300
37, 491,680
2,230,520
625,080
5,748,560
125, 135,940
1,180,220
1,393,800
36,495,620
88,558,200
3,225, 040
9,643,340
3,947,000
2,996,480
$218,387,890
2,939,600
17, 188,250
825, 130
1,259,260
1,620,380
2,010, 780
1,654,970
14,433,790
3,749,860
1,848, 630
3,187,040
5,055,950
4,050,830
$157, 644,765
7,028,650
3,080,200
862,810
1,135, 120
1,960,680
1,511,540
1,744, 100
3, 130,960
4,999, 430
3, 135,690
3,021,250
4,575,695
3,950, 720
$1,357,716
$23,023,902.50
168,012.50
228.307. 50
334.332.50
503.142. 50
402,400.00
544,860.00
441,225.00
841, 120. 00
1.412. 642. 50
1.104.747.50
1,231,705.00
1.760.477.50
1.540.492.50
$18,223,438
1900 .
1901 .
1902 .
1 75,000
1 175,000
2 25,000
2 35,000
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
1912 .
Total .
841,313,380
278,212,360
197,781,610
1,357, 716^ 33,537,367.50
18,533,438
Calendar years.
Minor coinage.
Five cents.
Three cents.
Two cents.
1793 to 1900 .
$17,444,363. 35
1,362,799.75
1,324,010.65
1,574,028. 95
1.400. 336. 25
1,070,249. 20
1,491,363.80
1.930.686.25
1,960, 740.00
1,134,308.85
579,526. 30
1,508,467.65
1,997,968. 60
1,311,835. 70
$941,349.48
$912,020.00
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
1912 .
Total .
36,070,685. 30
941,349.48
912,020.00
[Coinage at the mint at Deliver from
Calendar years.
Gold coinage.
Double
eagles.
Eagles.
Half
eagles.
Quarter
eagles.
1906 .
$12,405,000
16,845,000
20,265,000
1 , 050, 000
8,580,000
16,930,000
$9, S10, 000
10,300,000
10,465,000
1,215,400
23,566,400
301,000
$1,600,000
4,440,000
740,000
17,117,800
968,000
362,500
1
1907 .
1908 .
1909 .
1910 .
1911 .
$139,206
1912 .
Total .
76,075,000
55,657,800
25,228,300
139,200
i Louisiana Purchase Exposition. 2 Lewis and Clark Exposition.
OPERATIONS OF THE MINT SERVICE
115
from their organization, by calendar years— Continued.
its organization, 1793, to Dec. 31, 1912.]
Silver coinage.
Trade
dollars.
Dollars.
Half dollars.
I
Quarter Twenty
dollars. cents.
Dimes.
Half dimes.
Three cents.
$5, 107,524
$236,558,010
3 8,880,912
6,962,813
7,994,777
4,652,755
2,788,650
$93,763,709.00
2,381,456.00
2. 134.406.50
2.461.388.50
1.139.377.50
1,496,335.00
331.363.50
1.319.337.50
1.299.287.50
677.272.50
1,184,325.00
209.275.50
703.271.50
775,350.00
$43,487,230.25
2,504,228.00
2.223.203.25
3,049,436.00
2,417,516.00
2.397.203.25
1,242,062.50
914. 108.75
1,798, 143.75
1,058, 136.25
2,317,162.50
561.137.75
930. 135.75
1,100, 175.00
811,342
$24,715,379.80
1,760,091.20
1,886,047.80
2, 138,077.70
1,950,075.50
1,460, 102.70
1,455,235.00
1,995,840.60
2,222,057.50
1,060,054.50
1,024, 065. 00
1,152,055. 1C
1,887,054.30
1,935,070.00
$3,948,791.90
$1,260,487.20
5, 107,524
267,837,917
109,876, 155.50
65,999,879.00
11,342
46,641,206.70
3,948,791.90
1,260,487.20
Minor coinage.
Total coinage.
Total value.
Cents.
Half cents.
Gold.
Silver.
Minor.
$13,347,409.39
668,337.64
796,111.43
873,767.22
850,944.93
613,280.15
807, 191.63
960,222.55
1,081,386.18
323,279.87
1,150,682.63
1,468,012.18
1,011,777.87
681,530.60
$39,926.11
$941,279,011.50
47.627.942.50
22.727.277.50
2.722.352.50
8,821,082.50
129, 144,400.00
5,282,400.00
5,234,095.00
54,901,490.00
98.720. 132.50
9.314.707.50
17,083,335.00
15.339. 122.50
1,358, 197,349.00
$408,852,474.15
15.526.687.20
13.206.470.55
15.643.679.20
10, 159,724.00
8, 142,290.95
3,028,661.00
4,229,286.85
5,319,488.75
2,795,463.25
4,525, 552.50
1,922,468.35
3.520.461.55
3,810,595.00
$32,685,068.33
2,031,137.39
2, 120, 122.08
2.447.796.17
2.251.281.18
1,683,529.35
2,298,555.43
2,890,908.80
3,042,126.18
1,457,588.72
1,730,208.93
2,976,479.83
2,989,746.47
1,993,366.30
$1,382,816,553.98
65, 185,767.09
38,053,870.13
20,813,827.87
21,232,087.68
138,970,220.30
10,609,616.43
12,354,290.65
63.263. 104.93
102,973, 184.47
15.570. 468.93
21,982,283.18
21,849,330.52
18,342,483.80
24,633,934.27
39,926.11
1,370,735,871.50
500,683,303.30
62,597,915. 16
1,934,017,089.96
February, 1906, to Dec. 31, 1912.]
Silver coinage.
Minor coinage.
Total coinage.
Total value.
Half
dollars.
Quarter
dollars.
Dimes.
Five
Cents.
Cents.
Gold.
Silver.
Minor.
$2,014,000
1,928,000
1,640,000
347,540
1,150,400
$820,000
621,000
1,447,000
1,278,500
375,000
233,400
$406,000
408,000
749,000
95,400
349,000
1,120,900
1,176,000
$423,700
$126,720
104,110
$23,815,000
31,585,000
31,470,000
19,383,200
33,114,400
17,732,700
$3,240,000
2,957,000
3,836,000
1,373,900
724,000
1,701,840
2,326,400
$126,720
527,810
$27,055,000
34,542,000
35,306,000
20,757, 100
33,838,400
19,561,260
2,854,210
7,079,940
4,774,900
16, 159, 140
423.700
230,830
157, 100,300
%
16, 159, 140
654,530
173,913,970
- — %
a Includes 50,000 Lafayette souvenir dollars.
116
REPORT OF THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United States
RECAPITULATION.
Calendar years.
Gold coinage.
Double
eagles.
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dollars.
1793-95 . .
$27,950
60,800
91,770
79, 740
174,830
259,650
292,540
150,900
89, 790
97,950
$43,535
16,995
32,030
124,335
37,255
58,110
130,030
265,880
167,530
152.375
165,915
320. 465
420. 465
277,890
169.375
501.435
497,905
290.435
477, 140
77,270
3,175
1796. . .
$165.00
4,390.00
1,535. 00
1,200.00
1797 .
1798 .
1799 .
1800 .
1801 .
1802 .
6,530.00
1,057. 50
8.317. 50
4.452. 50
4,040. 00
17,030. 00
6,775.00
1803 .
1804 .
1805 .
1806 .
1807 .
1808 .
l
1809 .
1810 .
•
1811 .
1812 .
1813 .
1814 .
. ! .
1815 .
1816 .
1817 .
.
1818 .
242,940
258,615
1,319,030
173,205
88,980
72,425
86,700
145,300
90,345
124,565
140, 145
287,210
631,755
702,970
787,435
968, 150
3,660,845
1,857,670
2, 765,735
1,035,605
1,600,420
802,745
1,048,530
380,945
655,330
4,275,42 5
4,087,715
2, 743,640
2,736,155
5,382, 685
1,863,560
1,184, 6-15
860, 160
2,651,955
3,689,635
1819 .
1820 .
.
1821 .
1
16, 120. 00
1822 .
1823 .
1824 .
6,500.00
11,085.00
1,900. 00
7,000.00
1825 .
1826 .
1827 .
1828 .
1829 .
8,507. 50
11,350.00
11,300.00
11,000.00
10,400.00
293,425.00
328,505. 00
1,369,965. 00
112, 700. 00
137,345.00
191.622. 50
153.572.50
54.602.50
S5,007. 50
1.327. 132. 50
89,345.00
276. 277. 50
279. 272. 50
482,060.00
98.612.50
111.147. 50
895.547. 50
3. 867. 337. 50
3.283.827. 50
3,519,615.00
1.896.397. 50
600, 700. 00
1.213.117.50
796,235.00
' 144,082.50
142, 220. 00
164,360.00
3,241,295.00
300. 852. 50
27,075.00
7,185.00
62.302. 50
105,175.00
78,125.00
94,062. 50
84.612.50
1830 .
1831 .
|
1832 .
1833 .
1834 .
1835 .
183G .
1837 .
1838 .
72,000
382.480
473,380
656,310
1,089,070
2, 506, 240
1,250,610
736, 530
1,018, 750
14,337,580
1,813,340
6, 775, 180
3,489,510
4,393,280
2,811,060
2,522,530
2,305,760
1,487,010
1,429,900
481,060
343,210
253,930
278.830
1,287,330
234,950
112. 480
60,800
207,050
237,800
121,400
241,550
82, 850
1839 .
1840 .
1841 .
1842 .
1843 .
1844 .
1845 .
1846 .
1847 .
1848. .
1849
$936, 789
511,301
3,658,820
2, 201,145
4,384,149
1,657,016
824,883
1,788,996
801,602
131,472
193,431
51,234
527, 499
1,326,865
6.250
5,950
3,725
7,180
5.250
10,525
6,925
1850. .
$26, 225, 220
48,043,100
44.860.520
26.646.520
18, 052, 340
25, 046, X20
30,437,560
28.797.500
21,873,480
13,782,840
22,584,400
74,989,060
18,926,120
22, 187, 200
19,958,900
27,874,000
30.820. 500
23,436,300
1851 .
1852 .
1853
2,305,095
1,513,235
1,257,090
1,806,665
1,232,970
439, 770
361,235
352,365
3,332, 130
69,825
97,360
40,540
144,535
253,200
179,600
288,625
163,925
1854 .
$491,214
171,465
181,530
104,673
6,399
46,914
42,465
18,216
17,355
15,117
8,040
3,495
12,090
7,950
14,625
7,575
1855 .
1856 .
1857 .
1858 .
1859 . .
I860 . .
1861 .
1862 .
1863 .
186-4 .
1865 .
I860 .
1867 .
1868 .
18, 722, 000
1&39 .
17,238,100
Carried forward .
. 560,502,480
54,819,680
67,470,880
1,149, 123
26,005,402.50
10,040,007
OPERATIONS OF THE MINT SERVICE.
117
from their organization, by calendar years— Continued.
RECAPITULATION.
Silver coinage.
Trade.
dollars.
Dollars.
$204,791
72,920
7,776
327,536
423,515
220,920
54,454
41,650
66,064
19,570
321
Half dollars.
1,000
$161,572.00
300
61,005
173,000
184, 618
165. 100
20,000
24.500
169,600
140,750
15,000
62, 600
47.500
1,300
1,100
46, 110
33, 140
26,000
63.500
94,000
636,500
733,930
78,500
12.090
27,660
31, 170
47,000
49,625
60,325
182, 700
424.300
1,959.00
5,053,440
15.144.50
14.945.00
15.857.50
78.259.50
105,831.00
419,788.00
525,788.00
684,300.00
702,905.00
638, 138.00
601,822.00
814,029.50
620.951.50
519.537.50
"23, '575.' 66
607.783.50
980,161.00
1,104,000.00
375, 5G1. 00
652.898.50
779.786.50
847, 100.00
1,752,477.00
1,471,583.00
2,002,090.00
2,746,700.00
1,537,600.00
1,856,078.00
2.382,400.00
2,936,830.00
2,398,500.00
2,603,000.00
3,206,002.00
2,676,003.00
3,273,100.00
1,814,910.00
1,773,000.00
1,748,768.00
1,145,054.00
355,500.00
1,484,882.00
3,056,000.00
1,885,500.00
1.341,500.00
2.257,000.00
1,870,000.00
1,880,000.00
1,781,000.00
1.341,500.00
301,375.00
110,565.00
2,430,354.00
4. 111,000.00
2,288,725.00
1,903.500.00
1.482,000. 00
5,998,000.00
2,074,000.00
1,032,850.00
2 078,950.00
802,175.00
709.830.00
518,785.00
593.450.00
899.812.50
810. 162. 50
709,100.00
725,950.00
95, 509, 284. 50
Quarter
dollars.
| Twenty
cents.
$1,473.50
63.00
1,684.50
30,348.50
51.531.00
55, 160. 75
17,308.00
5,000.75
90,293.50
36,000.00
31,801.00
54,212.75
16,020.00 |
4,450.00
42,000.00
1,000.00
25,500.00 |
99,500.00
80,000.00
39,000.00
71,500.00 |
488,000.00
118,000.00
63,100.00
208,000.00
122, 786. 50
153,331.75
143,000.00
214,250.00
403,400.00
290,300.00
230,500.00
127,500.00
275,500.00
36,500.00
85,000.00
150,700.00
62, 000. 00
68,265.00
4,146.555.00
3.466,000. 00
857,350.00
2,129.500.00
2,726,500.00
2,002,250.00
421,000.00
312,350.00
1,237.650.00
249,887.50
48,015.00
28.517.50
25,075.00
11.381.25
17. 156. 25
31,509.00
23,150.00
Dimes.
$2,213.50
2,526. 10
2,755.00
2,176.00
3,464.00
1,097.50
3,304.00
826.50
12,078.00
16,500.00
4,471.00
635.50
6,518.00
42, 150.00
Half dimes.
Three cents.
$4,320.80
511.50
2,226.35
1,200.00
1,095.50
650.50
1,892.50
780.00
94,258.70
118,651.20
10,000.00
44,000.00
51,000.00
121,500.00
12,500.00
77,000.00
51,000.00
77, 135.00
52,250.00
48,500.00
63,500.00
141,000.00
119,000.00
104,200.00
239, 493. 40
229,638.70
253,358.00
363,000.00
390, 750. 00
152,000.00
7,250.00
198,500.00
3,130.00
24,500.00
45, 150.00
113,900.00
244.150.00
142,650.00
196,550.00
1,327.301.00
624,000.00
207,500.00
703,000.00
712.000.00
189,000.00
97,000.00
78,700.00
209,650.00
102,830.00
17,196.00
26,907.00
18,550.00
14.372.50
14.662.50
72.625.00
70,660.00
21,727,878.00 ..
8,376.184. 10
61,500.00
62,000.00
62,135.00
48,250.00
68,500.00
74,000.00
138, 000. 00
95,000.00
113,800.00
112,750.00
108.285.00
113,954.25
98,250.00
58,250.00
58,250.00
32,500.00
78,200.00
1,350.00
63,700.00
63,400.00
72,450.00
82,250.00
82,050.00
63,025.00
785,251.00
365,000.00
117,500.00
299,000.00
433,000.00
258,000.00
45,000.00
92.950.00
164,050.00
74,627.50
5,923.00
4,523.50
6,675.00
6.536.25
6.431.25
18,295.00
21,930.00
4.529.818.90
$185,022.
559,905.
342,000.
20, 130.
4.170.
43.740.
31,260.
4S. 120.
10,950.
8.610.
14,940.
10,906.
643.
11.10
255.00
681. 75
138. 75
123.00
153.00
1,281,762.90
£333333388333
118
REPORT OF THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United States
RECAPITULATION— Continued.
Gold coinage.
Calendar years.
870.
871.
.872.
[873..
L874. .
1875. .
1876. .
L877 . .
1878 . .
L879 . .
1880..
LS81 . .
1882..
1883..
1884..
1885..
1886..
1887..
1888..
1889..
1890..
1891 . .
1892..
1893..
1894..
1895..
1896..
1897..
1898..
1899..
1900.
1901 .
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
1912.
Brought forward ....
Total.
Double
eagles.
$560,502,480
22,819, 480
20, 456, 740
21,230, 600
55. 456. 700
33,917, 700
32,737,820
46,386, 920
43.504.700
45,916, 500
28,889,260
17.749. 120
14.585.200
23,295,400
24,980, 040
19.944.200
13.875.560
22, 120
5,662,420
21.717. 320
16.995. 120
19,399, 080
25,891,340
19,238, 760
27. 178. 320
48. 350. 800
45. 163. 120
43,931,760
57, 070, 220
54,912.900
73.593.680
86.681.680
34, 150, 520
35, 697, 580
24.828.560
227,819, 440
37,440, 220
55.113.800
96, 656, 620
109.263.200
59, 774, 140
60, 788, 340
36, 392,000
2,996, 480
2,352,977,960
Eagles.
$54,819,680
164.430
254, 650
244,500
173,680
799,270
78,350
104,280
211,490
1,031,440
6, 120,320
21,715, 160
48, 796,250
24,740, 640
2,595, 400
2,110, 800
4,815,270
10,621,600
8,706,800
8,030,310
4,298,850
755. 430
1,956,000
9,817, 400
20, 132, 450
26,032,780
7, 148,260
2,000,980
12.774,090
12,857,970
21,403,520
3, 749, 600
46,036, 160
5, 520, 130
7, 766,970
2,709,880
5,703,280
16,903,920
26,838, 790
14, S13, 360
5.987, 530
34,863,440
5,866, 950
7,050,830
499, 122,890
Half eagles.
$67, 470, S80
143,550
245,000
275,350
754,605
203,530
105,240
61,820
182,660
1, 427, 470
3, 727, 155
22,831,765
33, 458, 430
17,831,885
1,647,990
1.922.250
9,065,030
18,282, 160
9,560, 435
1,560,980
37,825
290, 640
1,347,065
5, 724, 700
9,610,985
5, 152,275
7.289. 680
1, 0?2, 315
6, 109,415
10, 154, 475
16,278, 645
8, 673, 650
21,320,200
5,557,810
10,410, 120
2.445.680
5,915,040
6,334,100
7,570, 960
6, 149, 430
21.910, 490
7.840. 250
12,018, 195
5,910, 720
375.882,850
Three
dollars.
$1, 149, 123
10,605
3,990
6,090
75
125,460
60
135
4,464
246,972
9,090
3, 108
1,650
4,620
2,820
3,318
2,730
3, 426
18, 480
15,873
7.287
1.619,376
Quarter
eagles.
$26,065, 402. 50
51,387.50
68,375.00
52,575.00
512,562. 50
9,850.00
30, 050.00
23,052.50
92,630.00
1, 160,650.00
331,225.00
7, 490.00
1,700.00
10, 100.00
4,900.00
4. 952. 50
2.217.50
10,220.00
15, 705.00
40,245.00
44,120.00
22,032. 50
27,600.00
6.362. 50
75,265.00
10,305.00
15.297. 50
48,005.00
74, 760. 00
60.412. 50
68,375.00
168,012. 50
228.307.50
334.332. 50
503, 142. 50
402, 400. 00
544,860.00
441,225.00
841,120.00
1.412. 642. 50
1.104.747. 50
1,231,705.00
1,899, 677. 50
1,540, 492. 50
Dollars.
$19,040.00/
9,335
3,93C
3,53C
125, 125
198, 82C
42C
3,245
3,92C
3,020
3,030
1,630
7,660
5,040
10,840
6,206
12,205
6,016
8,543
16,080
30, 729
6 75, 000
6 175, 000
« 25. 000
« 35, 000
39, 600, 520. 00
19. 809. 337
1 Includes $475,000 in Columbian coins.
2 Includes S2, 025, 000 in Columbian coins,
* Includes $10,000 in Columbian coins.
OPERATIONS OF THE MINT SERVICE
119
from their organization, by calendar years Continued.
RECAPITULATION— Continued.
Silver coinage.
Trade
dollars.
$1,225, (XX)
4, 910, (XX)
I 6,279,000
6,192,150
13,092,710
4,259,900
1,541
1,987
900
1,097
979
Dollars.
Half dollars.
$5,053,440
445,402
1.117,136
1,118,600
296, (XX)
22,495,550
27.500. 100
27,397,355
27,927,975
27.574.100
28,470,039
28,136,875
28,097,707
31,423,880
33,011,710
31,990,833
34,051,811
38,043,004
23.502.735
0,333,245
1,455,792
3,093,972
862,880
19,870,762
12,051,731
14.420.735
15,182,846
<25,010,912
22,500,813
18, 100, 777
10,343,755
8,812,050
35,965,924 I 578,353,848
Quarter
dollars.
Twenty
I cents.
,509,284.50
829.758.50
1,741,655.00
866, 775. 00
1,593,780.00
1,406,050.00
5,117,750.00
7,451,575.00
7,540,255.00
726,200.00
2,950.00
4.877.50
5.487.50
2,750.00
4.519.50
2.637.50
3,065.00
2,943.00
2,855.00
6.410.50
0,355.50
6,295.00
100,300.00
1 1,652,130.50
2 4,002,896.00
3,667,831.00
2,354,652.00
1,507,855.00
2,023,315.50
3,094,042.50
4.474.628.50
5,033,017.00
3.119.928.50
4.454.723.50
3.149.763.50
2,331,054.00
1.830.863.50
6.426.414.50
6, 825; 587. 50
5,819,086.50
2 529,025.00
1.183.275.50
1.686.811.50
2,610,750.00
$21,727,878.00
23,935.00
53.255.50
68.762.50
414,190.50
215,975.00
1,278,375.00
7,839,287.50
6,024,927.50
849,200.00
3,675.00
3.738.75
3.243.75
4,075.00
3.859. 75
2.218.75
3.632.50
1.471.50
2.677.50
306,708.25
3. 177. 75
20, 147. 50
1,551,150.00
2,960,331.00
»2, 583, 831. 75
2.233.448.25
2.255.390.25
1.386.700.25
2,524,440.00
3.497.331.75
3,994.211.50
3.822.874.25
2.644.309.25
4,617,589.00
3,551,516.00
3,011,203.25
2,020,562.50
2,24S, 108.75
3.899.143.75
4.262.136.25
4,110,062.50
936,137.75
1.410.535.75
1,277,175.00
$265,598
5,180
102
120
190,715,192.50 99,653,261.25
Dimes.
Half dimes.
$8,376,184. 10
52,150.00
109,371.00
261,045.00
443,329. 10
319.151.70
2,406,570.00
3,015,115.00
1,735,051.00
187,880.00
1,510.00
3.735.50
2.497.50
391,110.00
767,571.20
393.134.90
257.711.70
658,409. 40
1.573.838.90
721.648.70
835.338.90
1,133,461.70
2.304.671.60
1.695.365.50
759,219.30
205,099.60
225,088.00
318,581.80
1,287,810.80
2,015,324.20
2.409.833.90
2,477,918.20
2,507,350.00
2,795,077.70
2.829.405.50
1,540,102.70
2.480.754.90
2.976.504.60
3.453.704.50
2.309.954.50
1,448,165.00
1,625,055. 10
3,359,954.30
3,453,070.00
$1,529,818.90
26,830.00
82,493.00
189,247.50
51,830.00
$1,281,762.90
120.00
127.80
58.50
18.00
Three cents.
271.000 68,123.827.00
4.880,219. 40
1,282,087.20
Includes 50,000 Lafayette souvenir dollars.
Louisiana Purchase Exposition.
• Lewis and Clark Exposition
120
REPORT OP THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United States
RECAPITULATION — Continued.
Calendar years.
Minor coinage.
Five cents.
Throe cents.
Two cents. j
1793-1795 . .
1
17% .
1797 .
1798 .
1799 .
1800 .
1S01 .
1S02 .
1S03 .
1804 .
1805 .
1800 .
1807 .
1808 .
1809 .
1810 .
1811 .
1S12 .
1813 .
1814 .
1815 .
1810 .
1817 .
1S18 .
1819 .
1820 .
1821 .
1822 .
1823 .
1824 .
1825 .
1S2G .
1827 .
1S28 .
1829 .
1830 .
1831 .
1832 .
1833 .
1834 .
1835 .
1836 . .
1837 .
1838 .
1839 .
1840 .
1S41 .
1842 .
1843 .
1844 .
1845 .
1846 .
1847 .
1848 .
1849 .
1850 .
1S51 .
1852 .
1S53 .
1854 .
1855 .
1856 .
1857 .
1858 .
1S59 .
1860 .
1861 .
1862 .
1863 .
1864 .
1865 .
$341,46a00
144, 03a 00
117,45a 00
97,56a00
48, 12a 00
$390,950.06'
272, SOO. 00
63, 54a 00
58,775.00
56,075. 00
30, 93a 00
I860 .
S737.125.00
1,545,475.00
M40.S5Q.00
819, 75ft 00
1807 .
1868 .
I860 .
Carried forward .
4,543,20a 00
74S, 62a 00
879, 070. 00
OPERATIONS OF THE MINT SERVICE
121
from their organization , by calendar years — Continued.
R ECA ITT ULATION— Continued.
Minor coinage.
Total coinage.
Cents.
Half cents.
Gold.
Silver.
j
Minor.
$10,660.33
9,747.00
8,975. 10
9,797.00 .
9,045. 85
28,221.75
13,628.37
$712.67
577.40
535.24
$71,485.00
77,960.00
128, 190.00
205,610.00
213,2S5.00
317, 760.00
422, 570.00
423,310.00
258. 377.50
258.642.50
170.367.50
324, 505.00
437,495.00
284,665.00
169,375.00
501,435.00
497,905.00
290,435.00
477,140.00
$370,683.80
77,118.50
14,550.45
330,291.00
$11, 373.00
10,324.40
9,510.34
9,797.00
60.83
1,057.65
423,515.00
224,296.00
74,758.00
9, 106. 68
29,279.40
13,628. 37
34,351.00
24,713.53
7,568.38
9,411.16
3,480.00
7,272.21
11,090.00
2,228.67
14, 585.00
2,180.25
10,755.00
4,180.00
3,578.30
71.83
489. 50
5,276.56
4,072.32
1,780.00
2,380.00
2,000.00
5,772.86
1,075.00
315.70
58,343.00
87,118.00
100.340.50
149.388.50
471,319.00
597,448.75
684,300.00
707,376.00
638.773.50
608,340.00
814,029.50
34, 422.83
25,203. 03
12,844.94
13,483.48
5,260.00
9,652.21
13,090. 00
8,001.53
15,660.00
2,495.95
10, 755.00
620,951.50
4,180.00
77,270.00
3,175.00
561,687.50
3,578.30
17,308.00
28,209. 82
39,484.00
31,670.00
26,710.00
44,075. 50
3,890.00
20, 723. 39
28,575. 75
28, 209. 82
607, 783.50
39,484.00
242,940.00
1,070,454.50
31,670.00
258,615.00
1,319,030.00
1,140,000.00
26, 710. 00
501,680. 70
44,075. 50
189,325.00
825,762. 45
3,890.00
88,980.00
805, 806. 50
20, 723. 39
72, 425.00
93,200.00
895,550.00
12, 620. 00
1,752,477.00
12, 620.00
14,611.00
15,174.25
23,577.32
22,606.24
14,145.00
17,115.00
33.592.60
23,620.00
27,390.00
18,551.00
38,784.00
21,110.00
’ 55,583.00
63,702.00
31.286.61
24,627.00
15,973. 67
23,833.90
24,283.20
23,987.52
38, 948. 04
41,208.00
61,836. 69
64,157.99
41,785.00
44,268.44
98,897.07
50,630.94
66,411.31
42,361.56
15,748.29
26,904.63
177,834.56
246,000.00
364,000.00
205,660.00
101 000 00
315.00
1,170.00
156,385.00
92, 245.00
131,565.00
1,564,583.00 |
2,002,090.00
2, 869, 200.00
14,926.00
16,344.25
23,577. 32
3,030. 00
2,435.00
140,145.00
295,717.50
643, 105.00
1,575,600.00
1,994,578.00
2,495,400.00
25,636.24
16, 5S0. 00
17,115.00
11.00
714,270.00
798,435.00
3,175,600.00
2,579,000.00
2,759,000.00
3,415,002.00
3,443,003.00
3,606,100.00
2,006,010.00
33,603. 60
23,620.00
770.00
600.00
705.00
1,990. 00
978, 550.00
3,954,270.00
2,186,175.00
4,135,700.00
1,148,305.00
1,809,765.00
28,160.00
19, 151.00
39,489.00
23,100.00
55, 5S3. 00
2,333,243.40
63,702.00
1,376,847.50
2,209,778. 20
31,286.61
1,675,482. 50
1,726,703.00
24,627.00
1,091,857.50
1,829,407.50
1,132,750.00
15,973.67
2,332,750.00
23,833.90
8,108,797.50
3,834,750.00
24,283. 20
5,427,670.00
2,235,550.00
23, 98/ . 52
3,756,447.50
1, 873, 200. 00
38, 948. 04
4,034,177.50
2,558,580.00
2,374,450.00
2,040,050.00
41,208.00
61,836.69
64,157.99
41,984.32
44,467,50
99,635.43
50,630.94
67,059.78
42,638.35
16,030. 79
27,106. 78
178,010. 46
246,000.00
364,000.00
205,660.00
101,000.00
280, 750.00
498, 400. 00
GOA ACT 14
20,202,325.00
3,775,512.50
199.32
199.06
738.36
9,007,701.50
31.981.738.50
62.614.492.50
56.846.187.50
2,114,950.00
1,866,100.00
774,397.00
999,410.00
648. 47
276. 79
282. 50
202.15
175.90
39,377,909.00
25.915.962.50
29,387,968.00
36.857.768.50
32, 214,040.00
22.938.413.50
9, 077, 571 . 00
8,619,270.00
3,501,245.00
5,142,240.00
5,478,760.00
8,495,370.00
14,780,570.00
3, 284, 450. 00
23,473,654.00
2, 259, 390. 00
3,783,740.00
1,252.516.50
809, 267. 80
609,917.10
691,005.00
982.409.25
908. 876. 25
1,074,343.00
1,266,143.00
83,395,530.00
280, 750. 00
498,400.00
' 529,737.14
354 292 86
.
20,875,997.50
22,445,482.00
20,081,415.00
uO* * 1 *
968,552.86
1,042,960.00
1,819,910.00
1,697,150.00
qaq non no
28,295,107.50
08,265.00
98,210.00
102,665.00
64,200.00
31,435,945.00
.
23,828,625.00
19,371,387.50
17,582,987.50
4,680,577.44
39,926.11
729,047,572.50
136,478,368.40
10,891,303.55 i
Total value.
$453,641.80
165,402. 90
152.250.79
545, 698.00
645,906. 68
571,335.40
510,956.37
516,075.83
370.698.53
371,827.94
333,239.48
801,084.00
1,044,595. 96
982, 055.00
884.752.53
1.155.868.50
1,108, 740.95
1.115.219.50
1.102.271.50
642. 535.80
20, 483.00
56,785.57
647,267.50
1,345,064. 50
1,425,325.00
1,864,786.20
I. 018,977.45
915, 509. 89
967,975.00
1,858,297.00
1,735,894.00
2.110. 679.25
3,024,342. 32
1,741,381.24
2.306.875.50
3,155,620.00
3,923,473. 60
3,401,055. 00
3,765,710.00
7,388,423.00
5,668, 667.00
7,764,900.00
3,299, 898.00
4,206,710. 40
3,617,912.31
3.426.812. 50
2,240,581.17
4,185,991.40
11,967,830. 70
7,687,207. 52
5.668. 595.50
6,633,965. 54
22; 638, 611. 69
5,879,720. 49
II, 164,695.82
33, S92, 306. 00
63, 488, 524. 93
57,896,228. 44
48.522.539. 78
34,577,870.85
32.905.243. 79
42,027,1 15. 2S
37,870,810.46
31.679.783.50
18,429,020.00
25, 938, 704. 00
87, 2S0, 270. 00
22,409,264.00
23.753.149.80
21,618,019.24
29,954,665.3 6
33.461.314.25
26.557.411.25
22,142. 880.50
19.812.130.50
876.417,334. 45
122
REPORT OF THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United States
RECAPITULATION — Continued.
Minor coinage.
Calendar years.
Brought forward
1870 .
1871 .
1872 . *;
1873...., .
1874 .
1875 .
1876 .
1877 . .
1878 . ;;;
1879 .
1880 .
1881 . .
1882 .
1883 . .
1884 .
1885 .
1886 . .
1887 .
1888 .
1889 . .
1890 . .
1891 . .
1892 . ; .
1893 . . .
1894 . .
1895 .
1896 . ;; .
1897 . .
1898 .
1899 .
1900 . .
1901 . .
1902 . .
1903 . .
1904 . .
1905 . .
1906 . .
1907 . ; .
1908 . . .
1909 . . .
1910 . .
1911 . .
1912 .
Five cents.
$4,543,200.00
240,300.00
28,050.00
301,800.00
227,500.00
176,900.00
104,850.00
126,500.00
Three cents.
Two cents.
$748,620.00
40,050.00
18,120.00
25,860.00
35, 190. 00
23,700.00
6,840.00
4,860.00
$879,070.
17,225.
14,425.
1,300.
117.50
1,455.00
997. 75
3,618.75
573,830.00
1,148,471.05
563.697. 10
73,824.50
166.514.50
763.182.60
536,024.15
794,068.05
812.963.60
841.717.50
584.982.10
668,509.75
270.656.60
498,994.20
442, 146.00
1,021,436.75
626,604.35
1,301,451.55
1,362,799.75
1,324,010.65
1,574,028.95
1.400.336.25
1,070,249.20
1,491,363.80
1.930.686.25
1,960,740.00
1,134,308.85
579,526.30
1,508, 467.65
1,977,968.60
1,747, 435.70
70.50
1,236.00
748.65
32,417.25
759.00
318.27
169. 26
143.70
128.70
238.83
1,232.49
646.83
36, 506, 285. 30
941,349.48
912, 020. CO
Total
8888
OPERATIONS OF THE MINT SERVICE
123
from their organization, by calendar years — Continued.
RECAPITULATION— Continued.
• '
'
Minor coinage.
Total coinage.
Total value.
Cents.
Half cents.
Gold.
Silver.
Minor.
$4,680,577. 44
52,750.00
39,295.00
40,420.00
116,765.00
141,875.00
135,280.00
79,440.00
8,525.00
57.998. 50
162,312.00
389.649.55
392, 115. 75
385,811.00
455,981.09
232.617.42
117,653.84
176,542.90
452,264.83
374.944. 14
488,693.61
571,82S. 54
470.723. 50
376.498.32
466,421.95
167.521.32
383,436.36
390.572.93
504,663.30
498,230. 79
536,000.31
668,337.64
796.111.43
873,767.22
850.944.93
613.280. 15
807, 191. 63
960.222. 55
1,081,386. 18
334,429.87
1,176,862.63
1,528,462.18
1,178, 757.87
829,950. 60
$39,926.11
$729,047,572.50
23. 198.787. 50
21,032,685.00
21,812,645.00
57,022,747. 50
35,254,630.00
32,951,940.00
46.579.452.50
43,999,864.00
49,786,052.00
39,080,080.00
62,308,279.00
96,850,890.00
65,887,685.00
29,241,990.00
23.991.756.50
27,773,012.50
28,945,542.00
23,972,383.00
31, 380, 808. 00
21,413,931.00
20.467. 182.50
29,222,005.00
34.787.222.50
56,997,020.00
79,546, 160.00
59.616.357. 50
47,053,060.00
76,028,485.00
77.985.757.50
111,344,220.00
99.272.942. 50
101.735. 187. 50
47. 184.852. 50
43. 653. 792. 50
233,402,400.00
49, 638, 400. 00
78, 793, 045. 00
131,907,490.00
131.638. 632. 50
88. 776.907.50
104,723, 735.00
56.176.822. 50
17.498.522.50
$136,478,368. 40
1.378.255. 50
3, 104, 038. 30
2. 504.488. 50
4,024,747.60
6,851,776.70
15,347,893.00
24,503,307.50
28,393,045.50
28,518,850.00
27,569, 776.00
27.411.693.75
27.940. 163.75
27,973,132.00
29.246.968.45
28.534.866. 15
28.962.176.20
32,086,709.90
35, 191, 081. 40
33,025,606.45
35.496. 683. 15
39.202.908.20
27,518,856.60
12,641,078.00
8,801,739.05
9,200,350.85
5,698,010.25
23,089,899. 05
18,487,297.30
23,034,033.45
26,061,519.90
36.345.321.45
30.838.460. 75
30,028, 167.20
19,874, 440.00
15,695, 609. 95
6,332, 180.90
10,651,087.85
13. 178.435. 75
12,391,777.25
8,087,852. 50
3,744,408. 35
6,457,301.55
7,340,995.00
25,047,114.27
39,926.11
3,289,012,933.00
979,245,359.35
$10, 891,393.55
350,325.00
99,890.00
369,380.00
379,455.00
342,475.00
246,970.00
210,800.00
8,525.00
58, 186.50
165,003.00
391,395.95
428, 151. 75
960,400.00
1,604,770.41
796.483.78
191,622.04
343, 186. 10
1,215,686.26
912.200.78
1,283,408.49
1.384.792. 14
1,312,441.00
961, 4S0. 42
1,134,931.70
438.177.92
882,430.56
832.718. 93
1,526,100.05
1.124.835. 14
1,837,451.86
2,031,137.39
2, 120, 122.08
2.447.796.17
2.251.281. 18
1,683,529.35
2,298,555.43
2,890,908. 80
3,042, 126.18
1,468,738.72
1,756,388.93
3,036,929.83
3, 156, 726.47
2,577,386. 30
63,446,695. 16
$876,417,334.45
24,927,368.00
24.236.613.30
24.686.513.50
61,426,950. 10
42,448,881. 70
48,546, 803.00
71,293,560.00
72.401.434.50
78,363,088.50
66,814,859.00
90,111,368.70
125,219,205.50
94,821,217.00
60,093,728.86
53,323, 106. 43
56.926.810.74
61,3^5,438.00
60,379, 150.66
65,318,615.23
58, 194,022.64
61,054,882.84
58,053,302.60
48.389.780.92
66.933.690.75
89, 184,688.77
66. 196. 798. 31
70,975, 677.98
96,041,882.35
102, 144, 626. 09
139,243, 191. 76
137,649,401.34
134,693, 770.33
79,660,815.87
65,809,513.68
250,781,539.30
58,269, 136.33
92,335,041.65
148, 128,051.93
145,499, 148. 47
98.621.148. 93
111,505,073. 18
65,790,850.52
27,416,903.80
4,331,704,987.51
MONETARY STATISTICS OF FOREIGN COUNTRIES.
The statistics of the production and coinage of the precious metals,
imports and exports of gold and silver, amount of bank and Govern¬
ment notes, both covered and uncovered, of the different foreign
countries, published annually in the reports of this bureau, are
obtained directly from the Governments of such countries by the
representatives of the United States^ accredited to them. , ,
A list of the interrogatories covering the points on which informa¬
tion is sought from the Governments of foreign countries is sent 3 early
to the United States ambassadors and ministers through the Depart¬
ment of State, and the replies in the form of reports are forwarded
directly to the Bureau of the Mint. . , , , .
Following is a copy of the list of the interrogatories forwarded to
foreign Governments for the year 1912:
1 What was the amount of gold and silver coinage during the calendar year 1912,
new coinage, and domestic and foreign recoinage? , • „ tho
2 (a) Was any coinage executed at your mint for other Governments during the
vear 1912? If so, state character and amount of same.
1 2 (6) Was any coinage executed at foreign mints for your Government? If so, state
weight of fine gold and silver used in the industrial art,
^i^Wha^was^the'total import of United States gold coin and what amount was
deposited and melted at the mints during cJl^ffine and the value of the gold and
si,5ver'?S^
the product of the colonies of silvercoin and bullion in the
count'S’ou DPSb"'r aif'lS Gite stockln public treasuries and banks, and m
C*^.''what t^s'tlm^autount of Government am^bairiEnotei^outstandiDg_atthe^end^of
the year 1912, and what amount was not covered by gold coin
^“Ys^d a'tTpSm'Sm^c^Pd^th the actual eunency of the country?
infh^alSnSg the year 1912 affecting the coinage, currency, or
^ltb1”^ thereT’reportpubhahed^n^o'operationsof the mint? If *>, fi— forward
a copy, also a report of the department of mines. . the calendar year 1912, the
11. (a) What was the import and export of gold ^ during countries?
value of coin, bullion, and ore, to be 8^® S silver^ during the calendar year 1912,
11. (b) What was the import and ex^rt of ^<*du by c()untnes?
the value of coin, bullion, and oro • ( f tiie coins of vour country, bringing
12 . Please examine the appended description ol tne
it down to date with corrections. 125
126
REPORT OF THE DIRECTOR OF THE MINT.
NORTH AMERICA.
CANADA.
Answers to interrogatories , 1912.
1 . Gold and silver coined during the calendar year 1912:
GOLD.
10 dollars..
5 dollars...
Total
Denomination .
I'ieces.
Value.
70,695
1706.950.00
154.152
770,760.00
224.847
1 1,477,719.00
SILVER.
50 cents.
25 cents.
10 cents.
5 cents..
Total.
283,248
2.504.065
3.237.096
5,849,562
11.873. 991
$141, 624.00
626.021.25
323,709.60
292, 478. 10
* 1,383,832.95
cJi£f Whk* !1’475'm new «*“*• “d «.735 was recomage of domestic coins and $790 from fore^n
* °f Wh>Ch *1^00’329-15 new “fcM* and *83,503.8) was recoinage of domestic coins.
F ace value of gold coins remelted*
British. .
United States . . * . . * . . . . .
$1,752
800
Face value of silver coins remelted, Canadian
2 (a and b), 9, 10, and 11. None.
4 Gold and silver returned from
at the mint for coinage:
* *
use in the industrial arts
to
•*
monetary
2,552
88,763
*
use deposited
^description.
Jewelry and dental scrap.
Gold.
Silver.
Fine ounce*.
1.451
Fineounce*-
656
British, Canadian, and
Gold com melted at mints, $S00. *°Id com)-
bJ.^pproximate stock of gold and silver^ and bullion i
in the country on Decem-
Dp^criptian.
Gold coin:
British sovereigns
Canadian..
, United States. .*
Gold bullion
Silver coin. .1’***’’ ’
In pnblic
treasuries.
M MO.ISolOO
»,MS.73a50
222. 93S. 99
208,900.00
for *nd S°Ter no1 gtren
In tanks.
In circi:-
lation.
1 <33,780,OT-UO
(*>
P)
$S2j,6*aoi>
*» is of — — .
below the dollar anl
OPERATIONS OF THE MINT SERVICE.
127
8. Government and bank notes outstanding at the end of the year 1912:
Items.
Notes
outstanding.
Gold
holdings.
Government .
$115,836,488.40
110,048.357.00
(■)
(>>
Banks of issue .
1 See above.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1912:
GOLD.
Countries.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
United States .
$7,484,089
5, 137
7,206
$1,310,486
116
50, 133
$13,792,183
Great Britain .
Other countries .
13,040
Total gold .
7,496,492
1,360,735
13,805,223
SILVER.
United States .
$1,099,359
952
33
$1,306,101
78
1,576
Great Britain . .
Other countries .
Total silver .
1,100,344
1,307,755
YUKON TERRITORY.
Gold bullion exported to the United States during 1912, $4,161,939.
CANADIAN HOLDINGS OF UNITED STATES GOLD.
[From Monetary Times, of Toronto, 24th May, 1913. J
Hon. W. T. White, the finance minister, when discussing the Canadian gold coinage
and the operations of the Ottawa Mint in Parliament, explained that of gold amounting
to something over $100,000,000 held in the Dominion Treasury, $90,000,000, or nearly
90 per cent, was represented by American coins.
At the same time the banks held in their vaults some $39,000,000 specie. It is
probable that two or three millions of this would represent Canadian silver coins.
Allowing for that, and assuming that 80 per cent of the remainder consisted of Amer¬
ican coins, that would make altogether about $118,000,000 United States gold coins
held in Canada. . . . . . . . .. . .
Each member of the Dominion Parliament is naturally anxious to forward the inter¬
ests of the particular constituency he represents. As gold mining is the principal
industry prosecuted in the Yukon, the member for that territory looks regretfully
at this huge mass of metal bearing the superscription of a foreign power. He, and
others with him, would like to see the foreign coins exported and replaced by Canadian
coins minted from our own gold. , _ , „ ...
From the point of view of the Yukon mines, so long as they get the best possible
prices for tlieir output of bars or nuggets, it does not matter whether the metal goes
*°Tho action °of ^the 'minister in abolishing the fee heretofore charged by the assay
office at Vancouver was about as far as, it would seem, the Government could go at
present in encouraging the home gold-mining industry.
1 Suddms one of the banks in Canada undertakes to finance one or more new enter¬
prises and places itself under obligation to advance, sav, $1500,000 in connection
therewith ‘The bank has reason to believe that when the advance is made it w.I
have to meet an adverse balance at the clearing house of $1,500,000. It does not
128
REPORT OF THE DIRECTOR OF THE MINT.
wish to disturb Canadian borrowers, bo it calls loans in New York and lodees iht>
money with its New York correspondents. * & me
. ^hen tr^es to 8ed New York exchange in Montreal and Toronto — that is it off<>«.
its drafts on New York in exchange for “ legals.”
But it happens that the other banks do not wish to buy the drafts at this time
So the only thing to do is to ship gold to Montreal. The bank’s agents or correspond¬
ents in New York take gold certificates to the subtreasury and receive ten-dollar and
twenty-dollar pieces. They are boxed up and sent by express.
Next day they are in Montreal, and the bank, perhaps, has them delivered to the
^r™eL£ei.ieral‘ The Packages are verified, and the receiver general gives the banks
$l,o00,000 in $5,000 Dominion notes. This illustration shows how the amount of
American com held in Canada tends to increase. 01
Sometimes it happens that gold has to be shipped to New York. The customers
of one of our banks may have imported a large amount of American goods. Thev ask
the bank for loans to pay off these debts. y
TTkoloans are granted and proceeds placed to credit of the borrowers’ accounts.
Then the borrowers ask for drafts on New York for remittance to their creditors. The
bank s account in New \ork lias not enough funds to meet the drafts. So it tries to
buy hew \ ork funds from the other banks, offering “ legals” in exchange. But the
exported1^8 n° N®W Y°rk funds t0 8pare; and {t devoloP8 that gold must be
AmiLr1^U^*takei large. $5,000 Dominion notes to the receiver general and gets
American com which is shipped to New York. As soon as it arrive! it goes into the
T We! « ™ wLg°d> £ertlficateB of larg° denominations are given in exchange.
Ihere is no delay the money goes to credit in the other market next day tho cost of
sendmg void from Montreal to New York is about five
liabilities and the^^ernnt^^ l^1('h the Canadian banks have to meet their international
ofall cmLtSned liabilities of their customers, and it is for the advantage
baJK^^fSSdia^rnff h«ld by th? Dondrd°n Treasury and by the Canadian
the banks were oh 1 iced tr> k °i^n+r \t at?r ^llere w°uld arise an occasion in which
national debts of their mstmi P ®° ^ew \®rk for the purpose of paying tho inter-
S The IS?; tTxfy Wtul( ’ therefore have to send the Canadian
c^ but the t0 +N+ew York next day, the same as in the other
the New York banks and the JfnT at t leir face value. They would be of no use to
Tf U . , DauK?’ and the subtreasury would buv them bv weight
Then tZ^ney^ouFd8 4d determine °the exact weight.
The loss of three da vs’ in<„r2 t * 0%e^ • Pr°hably with deductions for short weight,
and the deduction for sb ,rt mW ? 8h1Pm^nt 01 $1,000,000 would bo quite an item;
melted dJ The cSins would be
in Cam^a^d°aTth^tmretnotemitebhiefiaild f°r gold Coin8 day-to-day business
the banks can use gold coin! it would be i pTn^8 f? tbf onl>r market hx whicl*
merely to have them lie in the vinii^fn' economic blunder to com a vast amount
Nobody except a few officials wmTd e™ ° ^ommion Treasury arid of the banks
they would be demonetized at onced them’ and when th°y were exP0T'ted
CENTRAL AMERICA.
Mexico.
1. Amount of silver coined during the calendar year 1912:
Denomination.
Peso . .
60-centavo _
20-centavo _
10-centavo _
Pieces.
322,000
3, 730,000
025, 000
1,350,000
VaJue.
$322,000
1,568,000
125.000
135,000
>2,450,000
i , J WUs recoinage of domestic corns.
I a*},dSl5'°" ,783«-
OPERATIONS OF THE MINT SERVICE.
129
Imports of precious metals, fiscal year 1911-12.
[From Anuario de Estadistica Fiscal (Year book of Official Statistics), 1911-12.]
Oold, silver, and platinum (free of duty)
Wire, beads, and other manufactured sii
Gold beaten into leaves for gilding
Silver beaten into leaves for plating’. ’. * !
Gold and silver legal foreign coins . . .
Mexican silver coins of 1 peso .
ver goods, with
and without
gold plating
Pesos.
29,430.00
3,587. 10
9,407.87
216. 74
945, 745. 69
1,466. 70
Exports of precious metals, fiscal year 1911-12.
Items.
Exports.
Gold.
Silver.
In ore and dust .
Pesos.
1,892,516. 59
582, 237.00
303, 770.00
46,963,542.00
29,665.26
133,383. 68
Pesos.
6,881,242. 69
714,200.00
14,407. 02
40.330.550.16
172,125.-54
2-59,357.24
24,902,370. 18
16.294. 101.16
Mexican coin .
Foreign coin .
Bullion .
Cyanides .
Sulphides .
In cakes of lead .
Combined with copper .
Total .
49,905,115.13
89,568,353.99
COSTA RICA.
1. There was no gold coined for Costa Rica during the year 1912. Silver to the
amount of $24,903.75, in denominations of 5 and 10 centimos, were coined at the
Philadelphia mint.
2 ( b ). Coinage executed for Costa Rica at Philadelphia mint, as above.
2 (a), 4, and 10. None.
3. There are no available statistics regarding the amount of gold and silver used in
industrial arts, but the amount is inconsiderable.
5. United States gold coin imported, $1,624,623, none of which was remelted. Costa
Rica has no mint.
7. Approximate stock of gold and silver coin and bullion in the country on December
31, 1912:
Description.
In public
treasuries.
In banks.
In circu¬
lation.
$1,701,771
0)
$348, 750
$373,653
348, 750
1,701,771
373,653
1 Very little.
8. Government and bank notes outstanding at the end of the year 1912:
Notes.
Notes out¬
standing.
Gold hold¬
ings.
Legal-
tender sil¬
ver hold¬
ings.
- - — —
$348, 750
2, 048, 964
$348, 750
$1,701,771
2, 397, 714
1,701,771
348,750
9 Premium on aold -The currency of the country is on a gold basis and maintained
J. / remium on yn . . g() 415 jjnlteci states currency. The average premium
forPthe yearC°19T2 was 2.1834; the par value being $1 United States currency equals
2.15 colones.
24950°— 14 - 9
130
REPORT OF THE DIRECTOR OF THE MINT.
12 (a). During 1912 no gold bullion or ore were imported. United States gold coin
to the amount of $1,424,995 was imported.
The export of gold corresponds to the amount produced in the mines of this country
which is, in bullion and concentrates, equal to $461,739. This is a decrease of $286 214
from last year. ’
12 (5). The importation of silver coin was $24,903.75, which is the amount of small
coin made for this country at the Philadelphia Mint.
The exportation of silver coin amounted to $1,650. No silver ore was imported
during 1912. No silver ore was exported, but silver bullion to the value of $355 826
was shipped from Costa Rica. ’
HONDURAS.
1. Gold and silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
Gold (new coinage), 1 peso
350
8,283
$350.00
2,070.75
Silver (new coinage), peseta pieces. . .
2 (a and 6), 10, and 11. None.
" TV -fr
4. Old material returned from industrial use, deposited at. the mint for
coinage:
Description.
Candlesticks and plates (of silver) .
* * *
7. Approximate stock of silv
Silver.
Fine ounces.
GO
er <
Classification.
In public
treasuries.
In circula¬
tion.
Silver coin . .
$122, 485. 76
$2. 500, 000
8. Bank notes outstanding at the end of the year 1912:
Item.
Notes out¬
standing.
Legal-tender
silver hold¬
ings (accord¬
ing to law).
Banks of issue
a t> _ • .... - - -
Pesos.
384, 462
Per cent.
40
age, 137 per cent. * gnest> 143 Per cent; lowest, 130 per cent; aver-
12 (a and 6). Imports and exports oi gold and silve
*er during (fiscal year) 1912:
Country.
Exports.
Gold bullion. Silver buiiion. I Silv
er coin. Amalgam.
United States
France..
Germany . .
England. . .
^ Pesos.
...l!2:492;97
29.S7S.66
49, 790. 00
Total.
133, 562. 96
h° importation piven.
Note.— The above is data
172.367.97
Pesos.
323,214.50
323,214.50
Pesos.
227,716.02
6,437.50
Cyanide.
234.153.52
Pesos.
1,611,059.80
1,611,059.80
received from the ministry of finance and
public credit.
OPERATIONS OF THE MINT SERVICE.
131
NICARAGUA.
1. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
i
Value.
Silver (new coinage):
1 cordoba .
35,000
260.000
320,000
230.000
Cordobas.
35.000
130.000
80.000
23.000
50 centavos . .
25 centavos .
10 centavos. .
TotaJL .
845.000
268.000
2 (a and 6). There is no mint in Nicaragua. All the silver coins enumerated above
were minted at the Birmingham Mint, England.
3. Gold and silver used in industrial arts, negligible.
4, 5, and 11. None.
*******
7. Approximate stock of gold and silver in the country on December 31, 1912, none.
Silver coin not circulated until March 24, 1913.
8. Government notes outstanding at the end of the year 1912:
Government note^
Notes.
Notes out
standing.
$25,000,000
9. Premium on gold during 1912: Highest, 18 to I; lowest, 12^ to 1: average, 15 to 1.
The actual currency of the country is the cordoba, equal to $1 United States currencv.
10. (Copy of proposed currency law follows).
12 (a and b). See mine-production figures.
COMMERCE OF NICARAGUA, 1910.
[From Bulletin of the Pan American Union, January, 1913.)
The exports of gold and silver as given in the report
Great Britain for the year 1910 were as follows:
Amalgamated gold .
Cyanide gold .
Concentrated metals .
Gold in bars .
Smelted gold .
Precipitated gold .
Auriferous copper .
Silver in bars. .
By countries as follows:
Amalgamated and cyanide gold, to United States .
Concentrated metals, to United Kingdom .
Gold in bars, to—
United States .
United Kingdom .
Smelted gold, to —
United States .
United Kingdom .
France .
Precipitated gold, to —
United Kingdom .
United States. . .
Auriferous copper, to United Suites .
Silver in bars, to United Kingdom .
of the acting consul general of
$329,362
51,224
1.424
279. 946
175, 650
52,940
97
4. 1S9
$3S0, 586
1.424
156, 954
122.992
141,620
29,996
4,034
49,465
3,475
97
4,189
New currency act, effective March 23, 1913.
Art 1 The standard unit of value of the Republic shall be the cordoba, which shall
contain 1 gram 6^2 milligrams of gold, nine-tenths fine, which shall be divisible into
°I1\RTn^rThe<gc)ld^<T)ins of the Republic shall be as follows:
The piece oU0 cordobas, which shall contain 16 72 grams of gold, nine-tenths fine.
The piece of 5 cordobas, which shall contain 8.36 grams of gold, nine-tenths fine.
182
REPORT OF THE DIRECTOR OF THE MINT.
The piece of 2A cordobas, wliich shall contain 4.18 grams of gold, nine-tenths fine.
A ut. 3. The silver and minor coins of tho Republic shall be as follows:
The cordoba, which shall contain 25 grams of silver, nine-tenths fine.
The half-cordoba, which shall contain 12 J grams of silver, eight-tenths fine.
The quarter-cordoba, which shall contain GJ grams of silver, eight-tenths fine.
The piece of 10 centavos, which shall contain 2^ grams of silver, eight-tentha fine.
The piece of 5 centavos, which shall be of the weight of 5 grams, of which 75 parts
shall be of copper and 25 [tarts of nickel.
Tho piece of 1 centavo, which shall be of the weight of 4 grams, of which 95 parts
shall be of copper and 6 parts of tin and zinc.
Art. 4. Tho tolerance, or allowance for wear, of all the coins of the Republic, shall
be the same as for coins of corresponding value under the laws of the United States,
subject to alteration by Executive decree, with the approval of the parties named in
section 7 of this act.
Art. 5. The amount of the coinage of both gold and silver shall be determined by
tho national bank, under regulations approved by the Executive; provided, that
arrangements may be made whenever it seems proper and desirable, by agreement
bet ween the Executive and tho national bank, for the unlimited coinage of gold.
Art. G. Tho national bank shall havo and exercise all tho powers granted in the
banking concession attached as Schedule € to tho trust and fiscal agency contract
entered into between the Republic of Nicaragua and Messrs. Brown Brothers & Com¬
pany and J. & W. Seligman <& Company, of New York, on September 1, 1911, as
modified by tho treasury bills of agreement between said parties of the same date
Art. 7. That tho minister of finance is hereby directed to subscribe on behalf of
the. Government of Nicaragua not exceeding $500,000 of the capital of the National
Bank of Nicaragua authorized by the treasury bills agreement between the Republic
awl Alcorn. Brown Brother** & Company and J. & W. Seligman & Company, of New
\ork, elated September 1, 1911, and to pay, in accordance with said agreement, such
subscription from the proceeds of the loan provided for in said agreement.
Aur. 8. lliat tho President of the Republic is authorized to make an agreement
with tho bankers named as parlies in the treasury bills agreement above referred to,
by which tho national bank shall agree, on or before J uly 1, 1912. or with the approval
bankers at a lat er date, to exchange its notes for the existing national currency
of N icaragua at a rate to be agreed upon by tho President and the bankers and officially
declared not less than throe weeks prior to the agreed-upon date and in no event to
bo higher than fifteen hundred pesos in national currency notes for one hundred
cordobas.
Art. 9. The present currency plan is hereby declared to be the plan referred to in
article 8 of tho treasury bills agreement of September 1, 1911, between tho Republic
and Brown Brothers Company and J. & W. Seligman ifc Company, as bankers.
In accordance with the provisions of that agreement, the minister of finance is
said minister of finance, with tho approval of the bankers, may determine.
Tho moneys tints paid over or sot aside, together with any additional replenish¬
ments or increments thereto, shall constitute a fund to bo called the exchange fund,
which may be hereafter made a part of the resorvo held against tho notes of tho national
bank. Said oxehango fund shall bo available and used for tho following purposes-
First. To exchange on demand for tho gold coin of Nicaragua and tho notes of the
National Bank of Nicaragua, in sums of not less than five thousand cordobas or of
equivalent value in tho money of tho United States, at the principal office of said
national bank in Nicaragua, and at such branch offices of the bank for tho nuroose
with tho approval of tho minister of finance, drafts on tho said exchange fund in the
United States or other foreign country, charging for the same a premium of one-half
of one per cent for demand drafts and one per cent for telegraphic transfers
Second, To exchange on demand for the currency of tho fruited States or of anv
other foreign country in which a part of said exchange fund may be deputed in
sums of not loss than livo thousand cordobas or of equivalent vnl' m 1! r ’•
currencies, drafts on the National Bank of Nicaragua* or u n 'Si ThioreiS1!
tho bank as may bo designated by said bank for tho purpose with thoa^nr * ° wd0*
minister of finance, charging for the Samoa premium of ^ one-l dV f a,)provul °V }w
demand drafts and one per cent for telegraphic transfers a °f one per cent for
Third. To interchange the notes of the national hnnlr \iw» „ n
Republic, the currency of tho United States and other f\ 80 1 ur H1Jver C0U1 of the
(alums to be made by the national bank sul, 0V S cum-ncies, under regm
finance. ’ * 11 approval of tho minister oi
The premiums charge for drafts and . .
temporarily increased or decreased l^ihejmSjnaVh^t1® Ui!der this section may be
y ° n*Uonal bal* or by tho custodians of the
OPERATIONS OF THE MINT SERVICE.
133
exchange fund under the direction of the national bank and may be different between
different points; but they shall in no case be fixed higher than one and one-quarter
per cent for demand drafts, nor one and three-quarters per cent for telegraphic trans¬
fers, except with the approval of the minister of finance.
The exchanges above provided for may be made provisionally for and with the
existing national currency notes of the Republic until such date as may be fixed under
section 11 of this act for the termination of the legal-tender quality of such notes and
at rates of exchange to be fixed from time to time by the minister of finance, with the
approval of the bankers or their representative.
The amounts received as premiums from the sale of drafts or transfers shall be car¬
ried to the credit of the fund herein provided for, which shall bear all costs of the
issue of such drafts or transfers.
Any drafts against said fund or any orders for payments therefrom, when drawn or
signed by the National Bank of Nicaragua (Incorporated), shall be paid out of said
fund by the depositary or custodian thereof. Such drafts or orders shall provisionally,
until the bank shall be opened for business in Managua, be drawn or signed by the
minister of finance, and shall be valid when approved by the bankers or their repre¬
sentative. . ,
All of the drafts or orders hereinbefore referred to shall be sufficient warrant to such
depositary or custodian for the payments therein called for.
Art. 10. Neither the Government nor any other person, firm, or corporation, except
the national bank, shall, during the term of the charter of said bank, be permitted
to issue paper currency or any form of obligation payable to bearer and capable ot
being used for the purpose of circulation as money. . , . ,, ,
Art. 11. The gold coin of the Republic and the notes of the national bank shall be
receivable for customs and other public dues and shall be legal tender in the payment
of debts within the Republic. . , , _ , . , .
The subsidiary silver and the minor coins of the Republic shall be legal tender to
an amount not exceeeding ten cordobas. # A A . . , . A
Art. 12. The importation of foreign coin shall be subject to the control ot the
Executive exercised by decree. . _ . . . lrl „
Art. 13. The circulation of foreign currencies, whether of paper or ot gold, silver,
or other metals, may be temporarily permitted or temporarily prohibited by Executive
decree •
Art. 14. The existing national currency of the Republic shall no longer be receiv¬
able for customs or other public dues or be legal tender six months alter the official
rate of exchange provided for in article 8 of this act comes into operation and the
national bank is ready to issue its notes in exchange for said national currency.
National currency outstanding after this period— forged or altered notes excepted—
mav be redeemed under regulations approved by the national bank and Executive.
\rt 15 The Executive may make regulations having the force of law, not incon¬
sistent with this act, which may be necessary and proper to carry out its provisions
and those of the treasury bills agreement dated September 1, 1911, and subsequent
amendments thereto, and to enable the national bank and the bankers parties i to that
agreement to carry on any and all the functions therein conferred and to restore and
maintain stability in the national monetary system. ,• ^ c, ir«9
Art 16 The banking law of 1882, approved by the Executive March G, .1882,
excepting only articles' 18, 32, 33, and 34 of said law and all other acts inconsistent
with any of the provisions of this act, are hereby repealed, and the minister of finance
is hereby directed to prepare a revision of the general banking law for submission at
the first regular session of the congress.
PANAMA.
1, 2 (a and 6), 4, 8, and 9: None.
* * * * *
5. United States gold coin imported during 1912, §80,000.
*****
7. Approximate Mock of gold and silver coin and bullion in the country on Decern-
ber, 31, 1912:
Classifi cation.
Gold coin and gold bullion .
Silver coin and silver bullion .
Total.
In public
treasuries.
In banks.
$23,973.96
9, 994. 68
$774,000.00
336,000.00
35, 968. 64
1,110,000.00
In
$13,000.00
1,668.000.00
134
REPORT OF THE DIRECTOR OF THE MINT.
10. No monetary laws passed in 1912. Bank law of Januarv 31 iqiq ,
11. Cash balance is published everv dav in t wr;, - i n >1913, inclosed.
Department of Mines (Concessionaries^ attached!10 G"8tte' ’Rep0rt of
1-. Imports and exports of gold during 1912:
Country.
United States .
Great Rritaiin .
Great Britain
Total....
Imports of
coin.
Exports of
bullion.
$80,000
80,000
$4,958.93
5, 175.30
10,134.23
12 (6). Imports and exports of silver during 1912: None.
SALVADOR.
L 2 (a and b), 4, 6, 10, and 11. No.
o and 5. Insignificant.
7. Approximate stock of silver coin in the country on December 31, 1912:
Silver coin .
8. Bank notes outstanding at the end of the
year 1912:
Item.
Banks of issue .
Notes out¬
standing.
$5,396,217
age, 140 per^nt! g°ld dunng 1912: Hlghest, 151 per cent; lowest, 125 per cent; aver-
i??„wUal currency of the country is silver
the e§U?XE foni?owsf°rtS °f g°ld during 1912: Ther«
were no imports reported;
Gold exports.
Country.
BuUion.
Slimes.
Ore.
Matte.
Bullion.
Auriferous
ore.
Gold.
Gold and
silver.
United States....
Great Britain...
$1,365,400.19
$1,476,915.95
• ro not i j-v .
$18,925.00
4, 190. 80
$38,398. 32
$259. 84Z 50
73,002.24
—
Germany .
12, 217. 50
♦oo, 974. 94
$188,457.09
Total .
1,365,400. 19
i,489, mTliT
56,974. 94
23, 1X5. 80
38,398.32
332,844.74
188,457.09
fineness. theS8 amounts *** oppressed in the monetary unit of Salvador of 25
grams weigh
t and 0.900
Silver exports.
WEST INDIES.
CUBA.
o’ None- No mint in Cuba
quMtily
4, 6 8, io, and H. None.
• United States gold coin imported during 1912, $778,363.
vTo data available, but in any event the
OPERATIONS OF THE MINT SERVICE.
135
7. Gold and silver coin in the country on December 31, 1912:
Classification.
In circulation
(approxi¬
mate).
Gold coin .
Silver coin .
$30,000,000
3,000,000
Total.
1 33, 000, 000
1 United States currency is legal tender and constitutes a considerable proportion of the total circulation,
but no figures are available.
9. There is no premium on gold. The actual currency of the country is gold (United
States, French, and Spanish coin).
12 (a). Imports and exports of gold and silver during the calendar year 1912:
Country.
Gold coin.
Silver coin.
Imports.
Exports.
Imports.
Exports.
TTnitAri StfltAC _
$778,363
$6,250
40
M Avion ............
Tfrnnpfi
1,452,830
Spain .
457,542
$890
Total .
2,231, 193
463,832
890
DOMINICAN REPUBLIC.
1, 2, (a and 6), 10, and 11. None. No mint in the Dominican Republic.
3’ 4* 5, 6, and 7. No statistics available.
8. Government notes, unknown amount; worthless and not in circulation.
9. The actual currency of the country is United States currency and Dominican
subsidiary coinage. „ t .. , . ,, , , 1Q19.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1912.
Country.
Imports,
coin.
Exports.
Coin.
Ore.
$377,400
$8,046. 92
vlll tvvl l/Cft VVU vl iWlAV* .
PORTS.
8,046. 92
$165
82, 400
20,000
250,000
377,400
8,046.92
165
"Note — » mb auw v « uguivu — — — — — - c> — > . . , — -
probably United States paper money. No better figures are available.
HAITI.
3. Gdd Tnd^iher used^^ii 'iiiJustrial arts during the year 1912: So little as to be
negligible.
7. Approximate1 stockTf gold and silver coin in the emmtiy on December 31, 1912,
*8^0^ > - ^>12, 7,893,772 gourdes (1,
S^PreSm^n gold during 1912: Highest, 267 per cent; lowest, 205 per cent;
average, 228| per cent.
136
REPORT OF THE DIRECTOR OF THE MINT.
The actual currency of the country is gourdes in paper; fractions in nickel and bronze.
12 (a and b). Imports and exports of gold and silver during 1912, $b00,000 in gold
was imported from the United States. It is impossible to estimate the amount
exported, as a great auantity has been taken away by the Syrians, who were forced
to leave the country during the year.
There was no silver imported or exported.
The following is a copy of the new monetary act of Haiti:
LAW.
Michel Oreste,
President of the Republic .
In view of article 69 of the constitution,
On the report of the Secretary of State for Finance and Commerce,
And the advice of the Council of the Secretaries of State,
HAS PROPOSED
And the legislative body has voted the following law: .
Art. 1. On and after January 1, 1914, the national monetary unit shall be the gold
gourde, the weight and standard of which shall be identical with the. weight and
standard of one-fourth of the gold dollar of the United States of America, i. e., 0.418
grams of the standard of nine hundred thousandths of fine gold and one hundred
thousandths of copper, with allowance in fineness of two hundred thousandths more
or less.
The gourde is divided into a hundred parts or hundredths.
Art. 2. There shall be issued a national silver coin of one goude and one of fifty
centimes, which shall be, for the one-gourde coin, of the same weight of the present
coin of twenty-five cents of the United States of America, i. e., 6.25 grams of the
standard of eight hundred and thirty-five thousandths of fine silver and one hundred
and sixtv-five thousandths of alloy witli an allowance of three thousandths in fineness
more or less; and the coin of fifty centimes shall be one-half the weight of the gourde
with the same allowance.
Art. 3. The Department of Finance, charged with the execution of the withdrawal,
shall present to the legislative body as soon as possible a project of law fixing the
amount of the issue of the new money.
The amount of the silver money is fixed at three million gourdes, of which there
shall be two million pieces of one gourde and one million pieces of fifty centimes.
The new money shall bear on one side the coat of anus of the Republic with the
words in exergue: “ Liberty, Egalit£, Fraternity. R<5publique d’Haiti,” and the
value of the coin, and on the other side the effigy of J. J. Dessalines with the year
of the coinage below.
Art. 4. The silver money shall have the paying power only up to 20 per cent of the
amounts to be paid, except by private agreement.
Art. 5. The exportation of the national coin is prohibited.
Any sum of this money that an attempt shall be made to export shall be confiscated.
The person discovering and exposing the fraud shall receive one-half of the amount
confiscated. The other half shall be turned in to the public treasury.
Art. 6. The silver coins issued in virtue of the law of September 24, 1880, shall
cease to have circulation at the expiration of one year from the promulgation of the
present law.
During this time they shall be received by the public treasury, the old piece of one
gourde for three gourdes of the new silver coins; the piece of fifty centimes for one
gourde and a half; those of twenty and ten centimes, respectively, for fifty and
twenty-five centimes. The silver coins thus withdrawn shall be demonetized
They shall be melted up, the ingots resulting therefrom sold for the account of the
Government, and the proceeds applied to the redemption referred to in article 10
hereafter.
Art. 7. The copper coins issued prior to the present law shall continue to circulate
at their present value of one-half, one, two, and three centimes of a gourde They
shall have paying power in exchanges and payments only under the title of fractional
money and only up to the amount of five gourdes, unless by private agreement
Art 8. Prior to the coinage of the new gold money, dating from the first of Januarv,
1914, the withdrawal of the paper money in circulation by means of American gold
diall be proceeded with at the rate of four and a half gourdes for one dollar gold. The
five-gourde bills shall be first called in for exchange ®
The sum necessary for the withdrawal of the said' bills shall be drawn from the ten
million francs reserved for the monetary reform by the convention of October 2l7l910.
OPERATIONS OF THE MINT SERVICE.
137
Art. 9. The balance of the ten million francs, augmented by the interest paid by
the Banque Nationale de la R^publique d’Haiti, shall serve to cover the cost and
expenses of the coinage of the three million silver gourdes. This sum. in case it is
insufficient, shall be completed by an amount drawn from the proceeds of the duties
created by the law of August 11, 1903.
Art. 10. Dating from January 1, 1914, there shall be withdrawn from circulation
tne sum of three million four hundred thousand gourdes in nickel pieces of fifty
centimes, one million gourdes in pieces of twenty centimes, and one hundred thousand
gourdes m pieces of five centimes. This sum shall be withdrawn by means (1) of the
sum of three million silver gourdes, proceeds of the coinage above ordered: (2) of the
sum reserved for the withdrawal of the so-called Legitime bills which, up to that time
not having been presented for exchange, shall remain definitely demonetized: (3)
of asum not to exceed two hundred and fifty thousand dollars American gold, which
the Government is authorized to borrow and which shall be guaranteed by the proceeds
of the duties created by the law of August 11, 1903, deducting the expenses necessitated
by the withdrawal and the sum destined to complete, if there be reason, the amount
of the coinage of the three million silver gourdes. If necessary the Government may
give in guarantee any other affectation available.
There shall also be applied to the redemption of this loan (1) the proceeds of the sale
of the ingots resulting from the melting up of the silver money referred to in article 6;
(2) the proceeds from the sale of the nickel withdrawn from circulation as is hereafter
explained.
At the next legislative session the secretary of finance should render an account of
this operation to the chambers.
The above-mentioned sum of five million gourdes shall be withdrawn at the rate of
five gourdes nickel for one dollar or four new silver gourdes.
Art. 11. The balance of the nickel money shall continue to circulate and shall be
received in exchange and payments only up to the amount of ten gourdes, unless by
private agreement, and at the rate of four gourdes for a dollar.
Art. 12. The coinage and withdrawal operations shall be done under the super¬
vision of the Banque Nationale de la R6publique d’Haiti under conditions which
shall be agreed on between the Department of Finance and that establishment.
The conditions bear particularly on the reserve for expense of coining the same as in
effect at the mint at Paris and on the commission granted to the bank for coinage.
Art. 13. The withdrawal shall be done under the control of a central commission
presided over by the Secretary of State for Finance and composed of one member of
the Chamber of Accounts, the Administrator-in-Chief of Finance at Port au Prince
the commissary of the Government at the bank, and three citizens appointed by the
Department of Finance.
These latter shall receive as payment for services, to be paid once for all, the sum of
ten thousand gourdes to be divided among them.
Art. 14. The bills from circulation shall be cancelled, perforated under the super¬
vision of the bank, then, at the diligence of the above-named commission of control
burned after verification.
The nickel shall, after being controlled under the supervision of the bank, be shipped
to a foreign country, melted, and the metal resulting therefrom sold for the account of
the Government.
Art. 15. A maximum delay of eighteen months is fixed for the presentation for
exchange of the bills in circulation and the nickel to be withdrawn. After that delay
all types of paper money issued prior to the present law shall be demonetized It
shall be the same with the types of nickel money the withdrawal of which is provided
for in the present law.
Art. 16. The withdrawal effected, the loan provided for in article 10 reimbursed
the proceeds of the duties created by the law of August 11, 1903, shall form a metallic
reserve which is prohibited from being touched under penalties imposed by the said
law.
This metallic reserve shall be set aside to guarantee the two millions in nickel still
in circulation and to assure the stability of exchange.
Art. 17. Engagements contracted in national money prior to the present law shall
be settled at the rate of the withdrawal, i. e., at the rate of five gourdes for one dollar
or four gourdes of the new money.
Art. 38. A public administration regulation shall determine the details of the exe¬
cution of the present law.
Art. 19. Tne present law abrogates all laws or provisions of law that are contrary
thereto and shall be executed at the diligence of the Secretary of State for Finance.
Passed by the House of Representatives August 20, 1913, 110th year of the Inde^
pendence.
Passed by the Senate August 26, 1913, 110th year of the Independence.
Signed by the President September 5, 1913, 110th year of the Independence.
138
REPORT OF THE DIRECTOR OF THE MINT,
SOUTH AMERICA.
ARGENTINA.
1. 2 (a and 6), 4, and 10. None.
*******
5. United States gold coin imported during 1912, $8,540,000. None melted at
mint.
*******
7. Approximate stock of gold coin in the country on December 31, 1912:
Classification.
In public
treasuries (cash
conversion
office).
In banks.
Gold coin . - .
Pesos.
222,875,530.66
Pesos.
68.788,855.00
8. Government and bank notes outstanding at the end of the year 1912:
Notes.
Notes out¬
standing.
Gold holdings.
Government .
$786,119,171
250.000
$252,875,530.66
250,000.00
Banks of issue .
Total .
786,369, 171
253, 125, 53a 66
9. Premium on gold during 1912: Law No. 3871, of September 20, 1897, fixes the
value of the paper dollar at $0.44 gold and the gold dollar at $2.2727 paper.
11. Reports of the Argentine Mint and Department of Mines for 1911 are sent under
separate cover. Reports for 1912 will be sent as soon as they are published.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1912:
Country.
Gold.
Silver.
Imports
of coin.
Exports
of coin.
Imports
of coin.
Exports
of coin.
Germany .
Pesos.1
11,779.698
869. 500
3,278
Pesos A
Pesos' Pesos .i
Brazil
Bolivia _ _ _ _ ............ . . .
Smin . . . . .
13S,000
l/nited States .
8,540,000
870,500
40.000
7,484,901
6,4S9. 930
France. . . .
United Kingdom . . —
440,000
Uruguay .
7,621
.
Total .
36,077,807
145,621
440.000
1 Argentine gold.
BOLIVIA.
1, 2 (a and b), 4. 7, 8, 10, and 11. None.
3 and 5. Unknown.
*******
9. Premium on gold during 1912: Average premium 2.70 bolivianos for one °old
dollar. °
12 (a). During the year 1912 gold bullion was exported to the value of 144 275
bolivianos. '
boUvmio?Urin8 >ear 1912 Siher °re WaS exported to the value of 4,308,329
OPERATIONS OF THE MINT SERVICE.
139
STAMPED PAPE It IN HOLIVIA.
[From Bulletin of the Pan American Union, Mar., 1913.]
The 16 classes of stamped paper for use in Bolivia are of the following denominations:
First class, 5 centavos; second, 10 centavos; third, 20 centavos; fourth, 30 centavos;
fifth, 40 centavos; sixth, 70 centavos; seventh, 80 centavos; eighth, 1 boliviano;
ninth, 2 bolivianos; tenth, 5 bolivianos; eleventh, 10 bolivianos; twelfth, 20 bolivi¬
anos; thirteenth, 25 bolivianos; fourteenth, 40 bolivianos; fifteenth, 50 bolivianos;
and sixteenth, 100 bolivianos.
BRAZIL.
1. Amount of gold and silver coined in 1912:
Denomination.
Pieces.
Value.
GOLD.
4,878
Rein.
97,560
SILVER.
741,000
1,570,000
222,000
1,482,000
1,570,000
111,000
2,533.000
2,537,878
3,r3,ooo
3,260,560
No recoinage was executed, either domestic or foreign.
2 (a and b), and 4. None.
3 There are no statistics to be had as to the amount of gold and silver used in the
industrial arts, and expert opinion solicited by the embassy on this point appears to
agree that the quantity is so small, in any case, as to be practically negligible.
5. The total import of United States gold coin during the calendar year 1912 was
$1,855.47. None was deposited at the mint.
*******
7 There are no figures obtainable as to the stock of gold and silver coin and bullion
in the banks. The quantity of gold in circulation is almost negligible, and no statistics
are obtainable as to the amount of silver in circulation. The gold com deposits in the
“Oaixa de Conversao” (“cash conversion office”) on December 31, 1912, were as
follows:
. 16,616,340
. 25, 780, 402=J123, 460, 326
No statistics exist as to silver deposits, as they are very small and vary .
8 There are no bank notes in Brazil. The amount of Government c > i e ilegold
notes in circulation on December 3 1 , 1912, was 392,956.3175 reu i which is covered by the
sum mentioned in the answer hi question 7 (235,370 rcis). In the course of the year this
amount is apt to vary a few hundred milreis according to the amount of subsidiary
Swhfch happen to be on deposit at the “Caixa de Conversao.’* The amount .of
inconvertible currency outstanding on December 31 last amounted to 607,0-.i.52o reis.
9 Gold is at a premium with the actual currency of the country, which is composed
of convertible arid inconvertible notes and silver com— both notes having tne same
ot converuoie anu * . Th , , :n0(i at the mint, as mentioned above,
^rffi^u^rSs andeeSeCly' at the request of individuals. The
is in a large measure wr • eo]d varies with exchange, the par of the
coinage of gold is free. T ep fluctuations were as follows: Highest premium,
d, average, 68.70-.6 ... far
"to. TSZSztZtnhe only law poaned ..luring the year 1912 affecting either coinage,
currency, or banking, is appended herewith.
11. No.
140
REPORT OF THE DIRECTOR OF THE MINT,
12 (a). The imports and exports of gold during the calendar year 1912 was as follows
the value of coin, bullion, and ore being given separately and by countries, in pounds:
Country.
Imports.
Exports.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Ore.
German v .
£5,000
12,144
£576
Argentina .
£1,350,562
5,000
Chile .
United States .
381
4,955,342
6,250
8,312
£31
United Kingdom .
175
435,394
£140
Portugal .
Uruguay .
France .
80,000
1,755
L'ahal. . . . . .
Total .
4,987,429
31
1,189
1,438,681
435,970
140
12(6). The imports and exports of silver during the calendar year 1912 were as
follows, the value of coin, bullion, and ore being given separately and by countries
in terms of pounds:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
France .
£42, 776
42,809
£27
42G
United Kingdom .
£3,04*3
Portugal .
Prorm onv
£330
Vltllllql 1 J m . . . .
Austria-Hungary .
1,982
36
106,403
United States .
Total .
330
194,066
453
3,04$
13. N o change has been made in Brazilian coinage since last year.
CHILE.
Commerce of Chile in 1911 and 1912.
Consul Alfred A. Winslow, Valparaiso.
[In Daily Consular and Trade Reports for June, 1913.]
Declared exports from the Valparaiso consular district to the United States as in
voiced through this consulate, were as follows in 1911 and 1912:
Classification.
1911
1912
Gold in copper .
Clg OCA
$39,859
Silver in copper .
«lO, ZliU
no oi o
'£>,ol3
36,509
COLOMBIA.
1 and 2 (a). None.
2 (6). Coinage of silver executed by the mint at Birmingham
during 1912:
England, for Colombia
10 cents
20 cents
*0 cents
Denomination.
Pieces.
Value.
. . . .
2,442,000
400,000
1,010,000
$244,200
80,000
505,000
3,852,000
829,200
Total..
OPERATIONS OF THE MINT SERVICE.
141
3, 4, 5, 6, 10, and 12 ( a and b). No information available.
7. Approximate stock of silver coin and bullion in tbe country on December 31,
1912:
Classification.
Silver coin (at the fineness of 0.900) . . - ...... -
Silver bullion (at the fineness of 0.666 and 0.835).
Total...
In circu¬
lation.
$1,500,000
1 600,000
2, 100,000
i Gold equivalent.
8. Notes outstanding at the end of 1912 :
Item.
Government (legal tender), gold equivalent.
Notes
outstanding.
$10,620,803.42
9. Premium on gold during 1912: Highest, 1.5 per cent; lowest, 0.5 per cent; aver-
1TWis no report published on the operations of the mint, in particular, but
J£hld hlreto are tmrJaitted copies of the reports of the Amortization t omuussion
to Congress in 1910, 1911, and 1912.
ECUADOR.
1 and 2 (a). There are no mints in Ecuador. All money for the Government ie
coined abroad. x • t> ...
2 (ft). Silver coinage executed at Lima, ±eru.
Item.
Pieces.
Sucres.
50,000
30,000
20,000
10,000
3,000
1,000
5-cent . .
100,000
14,000
3. Gold and silver used in industrial arte: Practically none. Everything ie imported
'T No LmtbS’or°estlimates 000 aucres; all Englieh gold.
5. Gold exported exceeded gold imported by * & *
* * * . *
7. Approximate stock of gold and silver coin
in the country on December 31, 1912:
Sucres.
3 banks report: . 157 433 to
Cold com . . 107,4 ss.ns
Silver coin .
Silver com . .
(There are only three incorporated banks in the country).
8. Bank notes outstanding at the end oi the jcai
Item.
Notes
outstanding.
Gold
holdings.
Legal-tender
silver
holdings.
Sucres.
9,710,219.60
Sucres.
4,735,340.00
Sucres.
157, 433. 78
No data available either from treasury or customhouse.
142
REPORT OF THE DIRECTOR OF THE MINT.
COMMERCE OP ECUADOR.
[From Bulletin of the Pan American Union, January, 1913.]
According to Consul General Dietrich, the exports of gold for 1911 were as follows:
Gold ore .
Gold bullion and dust . . on.
Coined money . . I" " 1 1 "" " 1 1 " "I” " I " 1 1 " " I" I " 1 1 1 1 1 1 1 1 1 1 1"! 1 1 1 1 T *645
Gold bars, dust, etc., all to the United States, except 5,852 sucres to Germany; gold
ore, all to the United States, except 20 sucres to France.
Exports of gold for the years 1908, 1909, and 1910 were as follows:
Year.
Gold
bars,
dust, etc.
Gold ore.
190S .
Sucres .
401
Sucres .
504
1909 . .
TtVil y 01)0
OQA QQQ
OOO^ Ojt
Ofii 74ft
1910 . .
234, SSO
7ftl
** i Uj lOl
BRITISH GUIANA.
1, 2 (a and b), and 11. There is no mint operated in this colony.
4, 5, 7, 8, 9, and 10. None. No data available.
******
12 (a). Imports and exports of gold and silver during the year 1911-12:
Classification.
Country.
Imports.
Exports.
Gold bullion .
England
$915,516.66
917 AQ5 07
Silver coin .
«ooq 4ni tin
‘lUl. vH »
Oil} l/yo • cf 4
DUTCH GUIANA.
1, 2 ( a and 6), 3, 4, 5, 10, and 11. There is no mint and no statistics are kept of data
pertaining to these questions.
*******
7. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1912:
Classification.
In banks.
Gold coin . 1 .
Gold bullion .
‘Hif
4 941
Silver coin .
140 704
Silver bullion .
f Cl
in4*
Total .
1 u*>
040 K7C
444, 0 i I
8. Bank notes outstanding at the end of the year 1912:
Banks of issue.
Item.
Notes
outstand¬
ing.
Gold
holdings-
$47C,GCO
>$317,773
1 Not covered by gold coin, bullion, etc.
OPERATIONS OF THE MINT SERVICE.
143
9. Premium on gold during 1912: 2 per cent. The actual currency of the country
is bank notes issued by the Surinam Bank. This country does not have any currency
of its own, using the coinage of the Netherlands, consisting of —
Gold, 10 guilders, equal to . «4 00
Gold, 5 guilders, equal to . . 2 00
Silver, 2J guilders, equal to . ”!!!"!!!!!!!.!. ] . 1 00
Silver, 1 guilder , equal to . !!.!!.!!!.!.!.!.!]’] . ! 40
Silver, ^-guilder, equal to . !!!!"!!!!!!!!!!’! . ! 20
Sdver, \ -guilder , equal to . !!!!!!!!!!! I ! I !! I ! I ! I !!!!!! I .10
Saver, -^-guilder , equal to . 04
Nickel, ^-guilder, equal to . 02
Copper, 2J cents, equal to . 01
Copper, 1 cent, equal to . 004
Copper, J-cent, equal to . 0002
12 (a). Imports and exports of gold during the calendar year 1912:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
French. Guiana.. .
$105,370
$960
20,000
2, 400
United States .
Netherlands .
$400
$95,413
48,952
France .
Other places .
44,915
Total .
400
150,285
23,360
144,365
12 (6). Imports and exports of silver during the calendar year 1912:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Vothprlandg . .
$2, 400
$3,172
SI 09, 344
i
riAmprfira . . . _ .
34, 137
nt.hfir nljinAg . . . . .
3,632
. .
Total .
40,169
3,172
109,344
PARAGUAY.
1, 2 ( a and b), 4, 5, 11, and 12. No.
3. No sources of information on the subject.
6. There is no mining in Paraguay. .
7 and 8. There are no records or other sources of information on the subject.
9. There is no Paraguayan gold money.
10. The emission ox paper money was increased from 32,500,000 to 65,000,000 pesos
January 12, 1912.
PERU.
COINAGE OP GOLD.1
The greater portion of the gold employed in the manufacture of Peruvian pounds
proceeds from native mining industry. The coinage is gratuitous as the expenses are
i^ia method, for industrial benefit, it is much more profitable to coin it than to
send it abroad, especially when it is taken into account that the exportation is en-
CUTht!sr,eit'vili abePr« ofU509,128 kilograms which were received for coinage in
1911, 384,276 kilograms, or more than 75 per cent, proceeded from natne mining
industry.
i The figures given are taken from the publication of statistics by the national mint .
144
REPORT OF THE DIRECTOR OF THE MINT.
For that reason the data upon gold coinage is of much interest, as it is directly con¬
nected with the production of gold in the country.
The following table gives the amount of Peruvian gold coined in the national mint
from April 16, 1898 (the date on which the first coinage of “Peruvian pounds” was
delivered), up to December 31, 1911:
1898,
1899,
1900,
1901
1902
1903
1904
1905
Peruvian pounds.
. 40,073 0
. 33,813 0
. 63,497 0
. 81,219 0
. 92,302 0
. 111,600 5
. 86,246 5
. 181,982 5
1906,
1907
1908
1909,
1910,
1911,
Peruvian pounds.
. 221,037 0
. 201,012 7
. 144,664 0
. 52, 580 0
. 52,859 0
. 54,734 8
Total
1,421,221 0
Note. — The above coinage was distributed as follows:
Pounds .
Half-pounds.
Fifth-pounds
Peruvian pounds. . 48, 845
. do . 289,585
. do . 1,082,791
Total .
. do . 1,421,221
nf ^ the P°und- which is of identical value with the pound sterling
h!hr d!Yldea mt0 10 soles and eachsole into 100 centavos. The systemadopted gives
the following method ofwntten expression: “Lp. 1,825 8 50,” meaning 1 ,825 pounds 8 soles and 50 cen-
«LpS0 T8he50y”orn‘‘!LuVidS2S5tll0t f® "“4 ,*? the absence of any of tEe three’ denominat ions, as
centavos8as«ln ii^‘1,82» °ri 0and P01?1 *nd dash indicate the absence of both soles and
centavos, as Lp. 1,825. — . Commas are to be used only to point off integral thousands.
COMMERCE OF PERU, 1909 and 1910.
[From Bulletin of the Pan American Union, January, 1913.1
The following table shows the exports of gold and silver for the years 1909 and 1910:
Classification.
1909
1910
Silver and copper bars . . .
£635,852 3 31
600,841 6 28
130,915 3 90
123,698 1 30
92,083 1 68
3.7,516 7 47
32,148 1 26
24,477 7 35
5,591 3 73
3,311 2 96
2,051 6 04
Copper and silver matte .
£1164,761 9 76
Copper and silver ore . . . .
i vl OU1 Uil 1UU • ....
Silver and lead ore . . . .
Silver bars . .
73,401 2 81
13,647 5 41
47,516 0 26
50,390 1 28
Silver ore . .
Copper, lead, anil silver matte .
LUJlJlUl DllipillCie
Gold, silver, ami copper ore
1,703 6 82
482 5 14
60,769 4 01
Silver and copper ore. .
Exports, by countries, in 1910, were as follows:
Silver and copper bars to—
United States .
United Kingdom .
Copper and silver bars to United
States . . .
Copper and silver matte to —
United States .
United Kingdom .
Germany .
Copper and silver ore to —
Germany .
Belgium . . .
United States . .
France .
United Kingdom....
Silver sulphide to—
Germany .
United States. . .
United Kingdom .
Li bras, i
635.678 7
173 6
600,841 6
15,468 4
114,741 9
705 0
3,013 9
1.320 3
39, G71 4
43 7
79,642 6
33.267 7
6,541 0
52,274 3
16
15
28
03
57
30
70
80
80
02
3S
51
41
70
Silver and lead ore to —
Germany.. .
Belgium'. . •"'"!!!!!!!!
United Kingdom _
Silver bars to —
Germany .
United Kingdom . .
Silver ore to —
Germany .
United States . '
United Kingdom . *
Copper, lead, and silver matte to
United Kingdom .
Silver and copper sulphide to—
Germany .
United Kingdom . . .
Gold, silver, and copper ore to^ .
Germany .
United States . ]
Libras.
7,430 8 46
16,661 9 2S
13,421 6 48
224 6 63
31,923 4 63
1,110 2 54
5,278 5 07
18, a8S 9 74
5,591 3 73
1,040 3 82
2,270 9 14
601 0 97
CO 8 20
1 The value of the ‘Mi
$1.8665 United States go
(Peruvian pound) is estimated, the same as the British pound sterling, at
OPERATIONS OF THE MINT SERVICE,
145
1, 2 (a and b), 4, 9, 11. No. ™'OUAY.
amoun^fgaW^aaused0"68 n°r estabUahmentB in Uruguay where any appreciable
from Ael&Sted State? m t^Pt VVl indirectl-v: 83 to ** amount of gold imported
*4 ssr* °re ■* •
* * * * * - *
' . Stock of gold coin in the Republic on June 30, 1912:
Classification.
In Montevideo.
In interior.
Total.
General recapitulation:
Bank of the Republic .
Other credit institutions
*13. 116, 460.52
5,644,624.01
3. 729. 05
89, 190. 77
*1,803,925.55
*14, 920,3S6.07
5,644,624.01
23,000.39
393,159.05
State tax gathering offices
Commercial houses, etc .
Total .
19,271.34
303.968.2S
18, 854, 004. 35 2, 127, 165. 17
20,981,169.52
Classification of coins.
Description.
Pieces.
Value.
20 soles (Peru), $18.66 .
200
76, 8794
63, S29j
522
4,037,0941
51,237
16,654
6,417
60,656
*3,732.00
811.844.88
616,595.31
2,516.04
18,974,344.15
238,764.42
77,607.64
29,518.20
226.246.88
20 milreis (Brazil), $10.56 .
Eagles (United States), $9.66 .
Isabelinas (Spain, 5 pesos), $4.82 .
Pounds sterling (England), $4.70 .
Argentines (Argentina), $4.66 .
Alphonsinas (Spain. 5 pesos), $4.66 .
20 marks (Germany), $4.60 .
20 francs, liras, etc. ($3.73) .
Total .
20,981, 169.52
Note.— The Uruguayan peso is worth $1,034 United States currency.
8. The only paper money issued in Uruguay is that issued by the Bank of the
Republic. All other banks of issue have been terminated.
Pesos.
Notes outstanding December 31, 1912 . 27,999,292 50
Gold holdings . 13^ 655,’ 688.’ 10
Silver holdings . 1, 704, 734. 80
Nickel holdings . Ill, 039. 51
Statement of the banks on December 31, 1912:
Cash on hand:
In gold . $17,526,493.49
In bills and silver . 4, 870, 966. 05
Bills in circulation:
Of $10 and over . 23, 593, 120. 00
Of less than $10 . m- - - - 4, 406, 172. 50
Total . . 27,999,292.50
10. Copy of law and decree regarding rural credit, also pamphlet explaining rural
banks is inclosed herewith.
12 (a). Importations of gold from September 1, 1911, to August 31, 1912 (Ernesto
Tornquist & Co. (Ltd.), Buenos Aires):
Banco BritAnioo de la America del Sud. £50, 000
Banco Frances del Rio de la Plata . 50,000
A. Gowa . 700
Total . 9,077,200
Of which landed in Buenos Aires . 7,262 200
O f which landed in Montevideo . 1 , 815. 000
Total . 9,077,200
24950°— 14 - 10
Louis Dreyfus & Co . . . i’wX’22*
Banco Anglo Sud-Americano .
Ernesto Tornquist & Co. (Ltd.) . }’
Ernesto A. Bunge <fe J. Born*. . 1,140,000
Banco de La Republica O del Uruguay. '20, 000
Banco de Londres Brazil- . ... . . 000
Banco Espaflol del Rio de la 1 lata - 3a0.000
Banco de Londres & Rio de la 1 lata . . .
Banco dela Provinciade Buenos -Vires. 150, ow
Banco Aleman Transatlantico......... 140,000
Banco GermAnico de la America del Sud 114, 000
146
REPORT OF THE DIRECTOR OF THE MINT.
VENEZUELA.
1. Amount of gold and silver coined during the calendar year 1912:
Denomination.
Gold (new coinage), 20 bolivars.
Silver:
5 bolivars. . .
2 bolivars. . .
1 bolivar
i bolivar....
i bolivar....
Total .
Pieces.
Value.
150,000
$576,923
1,000,000
500,000
500,000
600,000
800,000
............
. .
.
3, 400,000
1 1,346,154
No' MTS “ Ve°M"ela' a" °f 1116 C°^e “dica,ed “ q-otta
naturebfing E&S* “ ““** “ “ arts “ Venezuela, everything of such
4, 10, and 11. None.
5. United States gold coin imported during 1912, $1,010,120. None melted.
* * * * * * *
7. Approximate stock of gold and silver coin in the country on December 31, 1912:
Classification.
In banks.
In circula¬
tion.
Gold coin .
n • i . . . . .
$862, 109
1,141,976
1
?!
.
Total .
2,004,085
1 A
8. Bank notes outstanding at the end of the year 1912:
Bank.
Notes
outstand¬
ing.
Gold
holdings.
$1,996,904
$862, 109
Legal-
tender
silver
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Coin.
Bullion.
Ore.
Coin.
Coin.
United States....
$1,012, 120
576,923
$491,165
102, 210
3,610
$63,769
229,659
24,691
262,702
577
$1,488
5,467
250
2,825
France . .
Germ an v _
$i. 346, 154
$195,769
Enrl&nd . . . . .* .
itaiy .
3,846
Total
...
1,592,889
596,985
5S1.39S
10,030
1,346. 154
195,769
OPERATIONS OF THE MINT SERVICE.
147
Decree relative to importation and exportation of gold coin.
[Translation.]
Gen. J. V. Gomez, President of the United States of Venezuela.
Whereas gold coin as a legal medium of exchange is necessary for the development
of industries and the facilitation of business transactions;
And whereas every tax which bears upon the importation of gold coin restricts its
coming and tends to diminish the industrial activity of the nation;
And whereas it is the duty of the National Government to promote the introduction
and circulation throughout the territory of the Republic of gold money legally coined:
It is decreed —
Article 1st. The tax of four centimos per hundred bolivars which is levied for
assay upon imported gold coin, is abolished from and after this date.
Article 2nd. Gold coin brought in through the customhouses of the Republic will
be examined, free of charge, by the administrator, together with the comptroller and
the warehouse weigher or warehouse inspector, by weight ; the charge for expert assayer
being abolished. The Ministry of Finance and Public Credit will furnish to the cus¬
tomhouses of the Republic the instruments and apparatus necessary for the examina¬
tion of gold coin, with the use of which apparatus the comptroller and warehouse
inspector shall be familiar.
Article 3rd. The special permits referred to in paragraph 2nd of Article 54th of
the 12th law of the Code of Finance, and the consular invoices for importation of gold
coin in legal money will be certified by consuls of the Republic free of charge. Such
invoices shall only include the gold money which is to be imported.
Article 4th. Upon the manifest which must be presented at the customhouse upon
importation of gold coin there shall only be canceled instruction stamps to the value
of fifty centimos for each thousand bolivars. . __ _ ...
Article 5th. Gold coin shall circulate freely through the territory of the Republic,
and the necessary policies or transportation permits shall be engrossed on national
stamped paper of the 6th class without cancellation of stamps.
Article 6th. The exports of gold coin from the territory of the Republic shall be
made upon orders or shipping permits, on which shall be canceled instruction stamps
of the value of thirty bolivars for each thousand bolivars.
Article 7th. Persons disobeying the foregoing provision will be penalized with a
fine equal to twenty-five per cent of the value of the money sought to be exported
without complying with said requirements, in addition to the penalties imposed by the
law of stamps of instruction for infractions thereof. . ,
Article 8th. The fine imposed by the foregoing article shall be made effective by
the administrator of customs of the appropriate jurisdiction.
Article 9th. The Minister of Finance and Public Credit will be responsible for the
execution of this decree. a
Given signed, sealed with the seal of the federal Executive, and attested by the
Minister' of Finance and Public Credit, in the federal palace in Caracas, this 18th
day of November, in the year 1912, 103rd year of the independence, and 54th of the
federation. j. y. Gomez.
Attested :
M. POKRAS E.,
Minister of Finance and I ubltc Credit.
148 REPORT OF THE DIRECTOR OF THE MINT.
• EUROPE.
AUSTRIA-HUNGARY.
Austria.
1. Amount of gold and silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
GOLD.
Coins of the crown standard:
100 crowns .
3,591
4,460
85,220
Crowns .
359, 100.00
89, 200.00
852, 200.00
20 crowns .
10 crowns .
Total .
93,271
1,300,500.00
Commercial trade coins:
4 ducats (45.16 crowns) . .* .
142,825
464,324
6,449,977.00
5,242,217.90
1 ducat (11 29 crowns ^ . . .
Total .
607, 149
11,692, 194.90
Total gold coinage .
700,420
1 12,992,694.90
SILVER.
Coins of the crown standard:
2 crowns .
2 10,244,500
2 8,457,000
20,489,000.00
8,457,000.00
1 crown .
Total .
18,701,500
•28,946,000.00
Maria-Theresa thalers .
4, 0S2, 200
(0
i Of which amount 12,620 crowns were recoined from domestic gold coins consisting of 227 twenty-crown
and 808 ten-crown pieces.
* Material was obtained from the melting down of silver gulden.
* Of this total. 50,335 crowns were from the recoinage of domestic silver coins, which sum represents their
full nominal value. The value of the silver coinage does not include Maria-Theresa thalers.
4 Trade coins without fixed value.
2 (a). Coinage executed for other Governments during 1912:
Bulgaria.
Denomination.
Value.
Gold (new coinage):
100 leva . . . . . . . . . . .
Leva.1
500,800
750,200
20 leva. .
Total .
1,251,000
i The leva is of the same value as the French franc.
Montenegro.
Denomination.
Silver (new coinage):
5 perper .
1 perper .
Total .
Silver (recoinage ) :
5 perper .
1 perper .
Total .
Value.
Perprrs'
50,000
150,000
200.000
150.010
350, OOS
500, 01S
1 1 perper=l crown.
OPERATIONS OF THE MINT SERVICE.
149
2. (a). None.
4. Gold and silver returned from use in industrial arts, deposited in the mint for
coinage:
Description.
Gold.
Silver.
Kilograms.
925.3183
Kilograms.
5, 509.892
Scrap gold and waste irom goia ana silver . .
—
5 The amount of United States gold com imported is unknown. The amount to
be found in the metal stock of the Austna-Hungarian Bank m the year 1912 was of
the value of about 2,488,120 crowns; United States gold com melted at mints during
1912, 6,810 eagles.
* *****
7. Approximate stock of gold and silver in the country on December 31, 1912 (for
Austria and Hungary):
Classification.
In public
treasuries.1
In banks.2
In circula¬
tion.3
Crowns.
1,347,438
Crowns.
1,067,278,700
142,557,930
229,591,382
Crowns.
<235,000,000
380,000,666
5,503,310
1,439, 428,012
615,000,000
1 to me branches in Austria, Hungary, Bosnia, and the Herze-
eTSsSibet^e^heiaS^ffi“e Au^r^H^^^”^ their lawful note circulation
and the back flowing national gold coins.
8, Bank notes outstanding at the end of the year 1912 (for Austria and Hungary):
Item.
Austria-IIungarian Bank.
Notes out¬
standing.
Crowns.
2,815,797,400
Gold holdings.
Crowns.
1,209,836,630
Legal-tender
silver holdings.
Crowns.
229,591,382
' The metallic eteck of the Austna-Hungarian Bank at the end of 1912 was as follows:
. 1,209,836,
Gold stock. "•••/' WftoiVihBr«"are"to "be reckoned (in accordance with article 84 of bank ^ 909
^"Soveming the rise in values).. 229,591,
Silver corns .
Nickel and bronze corns.
Crowns.
. . 1,209,836,630
000
382
8,147,371
. 1,507,575,383
,'ered bank notes in circula-
Total . , t t1 covered bank notes in arcuia-
The metallic stock eompmed 5^5 P™ £ ^ f ] 308,222,016 crowns were, for the
m”t I!? '(itT accordance with .he bank measure govemmg
exchange discount). „ 1(j T1 exchange value of sight drafts on London,
in 1912 was as follows:
Berlin (for 100 reichsmarks)
London (for £1 sterling). ---
Paris (for 100 francs) .
150
KEPORT OF THE DIRECTOR OF THE MINT.
10. Monetary laws passed during the year 1912-
unWw i°nothe finanSe min1i?tr>'’ December 11, 1912, regarding the issue of bank
Law of March 7, 1912, concerning the sanctioning of the Royal Hungarian crown-
tie coinage of --crown pieces and the further coinage of 1-crown pieces 7 The 2-crown
Slatt,^ the Weight °f 10 gramS and the finenesa of °-835‘) (Reichsgesetz-
'he iSS“e °f 2'Cr°Wn Piece8 °f the Cro™
12 (a). Imports and exports of gold during the calendar year 1912:
GOLD.
Country.
Imports, i
Exports.^
Coin.
Bullion.
Ore
and
base
metal.
Sweep¬
ings.
Coin.
Bullion.
Ore
and
base
metal.
Sweep¬
ings.
Egypt .
Belgium .
"Kilo¬
grams
gross .
Kilo¬
grams
gross.
Kilo-
grains
gross .
Kilo¬
grams
gross.
Kilo¬
grams
gross.
3,938
19
902
2,465
19,845
214
215
512
135
28
169
188
752
141
50
161
1,664
164
6,528
32
38
Kilo¬
grams
gross.
Kilo¬
grams
gross.
Kilo¬
grams
gross.
Bremen .
Bulgaria .
Germany
22
433
1,423
809
j .
France .
Greece .
1,017
.
........
8,016
573,100
Great Brit ian . .
Hamburg . ""
Italy. .
Montenegro .
Netherlands .
Roumania .
Russia:
European....
. 754*
17
. i3*
1
*••••••••.
. 8*
.
. .
5,757"
. .
**••••••••
*••••••••»
••••••« •
; .
Asiatic .
k; w 1 1 Lvl ldl H I . t
6
2,390
Tripoli .
«•••••••••
i urxey:
European.. .
Asiatic .
Various ftnnntriAc
82
4
2
815
4
1,210
49 .
330,200
i otal .
2,757
1,054
1,210
38, 160
17,836 £
>73,100
330,200
Value in crowns..
7,472,460
3,287,426
5,396 1
103, 490, 090 £
>3,953,900 2
17,778
3,900,480
SILVER.
OPERATIONS OF THE MINT SERVICE.
151
Hungary.
1. Gold and silver coined during the calendar year 1912:
GOLD.
Denomination.
Pieces.
Value.
20 crowns .
210,890
741,072
951,962
Crowns.
4,217,800
7,410,720
11,628,520
10 crowns .
Total .
Of the above total, 11,603,650 crowns were new coinage, and 24,870 crowns were from the recomage of
domestic coins.
SILVER.
5 crowns . . . . . . . .
269
1,345
2 or owns _ . . . . . . . . *. .
4,000,268
8,000,536
4,004,094
4,004,094
T'ntfll .
8,004,631
12,005,975
Of the above total, 12,000,000 crowns were new coinage, and 5,975 crowns were from the recoinage of
domestic coins.
2 (a and b). In the year 1912 there were coined for Bulgaria 37,505 gold coins of 20
leva (francs), valued at 750,100 leva. . , ,aio
No coinage was executed by other Governments for Hungary during the year 1 912.
* * * * * * *
4 During the year 1912 there were returned from use in industrial arts and deposited
at the mint for coinage, 104.40697 kilograms of gold and 111.526 kilograms of silver, in
old gold and silver and scrap gold and sweepings. , .
5 No United States gold coin was imported, or deposited at the mint for coinage,
during 1912.
7. At the end of the year 1912 there was in the State Treasury:
Gold coin .
Crowns.
2,643,923.79
Kilograms.
2,383.29699
17,857.24330
Gold bullion . .
Silver bullion .
There was in circulation during the same period: 133,969,230 crowns.
The metallic stock in the Austria-Hunganan Bank at the end ot the year 1914 was
as follows : Crowns.
. 1,209,800,000
Gold . . 237,800,000
Silver and mixed (change) coins . ' . . .
TWd andsilverin the bank..™
aSJtefiSS At - end of lhe
existed :
Crowns.
In gold coin and bullion...,
£3RSSfiSSd®liS»'SKi
. . 1,209,800,000
. . . 60,000,000
237,800,000
Total...
After
. 1,507,600,000
. . ; . 7**’ . u„ni. notea in circulation there remains
Alter deducting this amount e(i by coin and bullion.
1,308,200,000 crowns which . ]?lk to redeem bank notes issued by it.
biUt- year '
redeemed itsnotes iu lawful com.
152
REPORT OF THE DIRECTOR OF THE MINT.
t 1 'j^0^ t!tfLan. ©xchange value according to the average current rates at Berlin
London, and Pans. At the end of January to February gold was at a premium of 1
pci cent. Prona February to March it had an almost continuous upward tendency to
1 P? The,, at the bfltiunto* of April it fell to 3 per cent, {there it renSod
ext ept for a short, time, until the end of June when it went up to 5 percent which
was the mil m mat ion point of tlio first six months of the year, and at the beginning of
August. i' t fell to 1 per cent, after which it had an uninterrupted upward tendency
"i le-U went up 8 Per cent, the highest point of the entire year
At the \ear s conclusion it again fell to 5 per cent.
miemiUTny P-ystem of }]iQ country is the crown' standard, which is valued in gold
uno we,re P.assed in 191-: Law Brief XX, of March 7,'
yjii* Jblcb determined that, besides the silver coins of 1-crown and of 5-crown, there
frvinnn provlded silver corns of 2-crown with the standard of 835/1000 silver and
copper alloy. There will be a correspondence of one hundred 2-crown pieces
.,m \ ^ "F^m of silver; consequently the weight of the pieces will bo 10 grants^ each
1Kr0Wn PieFe3oare C(lual.1y applicable to those of
riesoTthe f be^01aFd ™ 2-crown pieces in the two territo¬
ries or me inn pure, 6o, 000, 000 crow ns for the Kingdom and country represented b v f lie
council of the Empire and 15,000,000 crowns for the country of the sanctioned crown
1 h« penod °n which the issue of tlie 2-crown pieces will begin will be
fixed by the two finance ministries signified by an ordinance °
0 * e coinage of the aforesaid contingents of 2-crown pieces there will be
FoteYamo^ Bank, hY the two ^nance ministries a
^ 81 vor guldens (florins) against the payment of the
the burial rn Jl fino1^ ^d by reason of the 35,000, 000 crowns authorized for
<he 15'000’°00 CroWDS authorized for the
qtwnt W* coiliod^OO Coined in 1:cnnvu P«*es there shall be subse-
Svat Se ^ioof’TnTn^^ -T 111 tho territories of the mon-
SciloL m lhe . lnpdom and country represented by the
Hungary. P 1 30>000>000 crownsm the country of the sanctioned crown of
provioShr set^apwt^lhi ?,?„?,! ^or^aid contingents in 1-crown pieces there will be
total amount of 100 000 ooo <£Ut* na:^ufj8arAan Bunk by the two finance ministries a
he ^cointen-aluifn 1U pllver guldens (florins) against the payment of
i?ed for t ho l rf i « ' by r>?S0-U °f Uie am°unt of 70,000,000 crowns author-
for the royal ,nd **>« 30,000,000 crowns authorized
ORDINANCE OF THE FINANCE MINISTRY RELATIVE TO THE ISSUE OF 2-CROWN PIECES
OF THE CROWN SYSTEM, MAY 14, 1912.
a^ToToTfi^“??,“ Sc«Tud ^
of the law of Man'h 7 191™ t!1 l° <■ n,ade ln national coins, by application
one in the two territories of'the monarchy is obli^Ho^S *n<?mduals, however, no
50 crowns in 2-crown pieces; to the contrary thn^nar^ffT001' ? An P^yn^onta more than
pav offices must accept these pieces in payments1 wothoutTin! in HStal ? &nd aIl officia
the 2-crown pieces shall be accepted for any a t w S " ° a?x?unt- f
^ lenna as well as by the pay offices of the brnu L^ a y Z-6 oentral treasurv at
exchange for all lawful coins. nmnehes of the Austna-Hungarian Bank in
The issue of 2-crown pieces will bo proceeded with *h„ _
tral treasury and the pay offices of the branches of i\!/ \ !l t ^‘q lT1rlroinepta of the con-
pro rata of their reserves f tho Austna-Hungarian Bank to a
,. ? L Reports on the operations of the mint and itnmrimuni e ■
lished. The Austria-Hungarian finance minStrv ot,inines ,ro not yot Pub'
the Director of the United States Mint when they arc available*0 l° fonvard them to
OPERATIONS OF THE MINT SERVICE
153
12 (a and b). The details of gold and silver imports and exports for 1912 in a special
report of the royal Hungarian statistical central board are forwarded herewith, as
follows:
Classification and
country.
Crude:
Austria
German Empire
Great Britain
Roumania
Bulgaria,
Turkey (European).
Bosnia
Total
Old:
Austria
German Empire
Bosnia
Servia .
Coin:
Austria
Bosnia
Switzerland
Italy
France
Great Britain
Roumania
Servia
Bulgaria
Turkey ( European) . .
German Empire
France
Netherlands
Sweden
Leaf, plated ware, bars,
and wire:
Austria .
German Empire
Switzerland .
France .
Great Britain
Roumania .
Turkey (European)
Bosnia .
Servia .
Bulgaria .
Sweepings (unsmelted)
Austria .
German Empire
Sweepings (smelted)
Austria .
Gerinan Empire
154
REPOBT OF THE DIRECTOR OF THE MIXT.
BELGIUM.
1. Amount of silver coined during the calendar year 1912:
Value of pieces remelted:
In 5-francs Belgian pieces .
In 5-francs pieces of Congo Free State (old)
In 2-francs pieces of Congo Free State (old)
In 1-franc pieces of Congo Free State (old)
In 50-centimes pieces of Congo Free State (old)
Total .
Francs.
8, 298,135
30.845
23,418
20.153
11,689
8,384,240
2 (a). Coinage executed for other Governments during 1912:
FOR ROUMANIA.
Denomination.
Fineness.
Value.
Silver coins:
2 lei .
1 lei . .
a 835
Let
3,000.000
oObani. . .
Total .
.835
.835
3,540.000
900,000
- - - . - - - -
7,440.000
of Sd . “?£ ^?.tSned by bullion. »d partly by ,h, retnelttag
In 5-lei pieces . ^
In 2-lei pieces . 12,000
In 1-lei pieces . 1,418,000
In 50-bani pieces. . 910, 000
* . 100.000
Total
2.440.000
GPKBATIOXH OF THE M1XT BEKVJCE. 155
7, Approximate *t/*k of gold and nil vor coin and bullion in the country on iJ& em-
herM, I #12:
CMAeafkit
In national
bank.
In other banks
and circulation.
Gold c/j\n
Uelraitc are! V/rfratH: pieem . . .
France.
fA. (*#,000
| 16,000,000
Prance.
* 100, 000, 000
/ 100,000,000
^approximately)
/ fi0,000 w
(f approximately )
tuber o otn:
triniHi pieces . . . .
'jAtwi piece* . . .
Mhrenlfme piece* . . . ]
Gold etei Silver t/srs *, . .
1 .
* Mr, Kaphael George* J^vy, of Farts, states this amount.
*7 he amount of gold and silver U not rruat and fibres thereof are not obtainable Generally
#p*aglny, the volume of in iH-lyniin has r**m diminishing during the ia t 20 years on account of
if** foreign exchange, especially with France, being always against Belgium; Un this reason gold and silver
have a "/OAiant tmilvruy to flow outward arid to return to France, wherefrom silver pieces are being
exported to Jieigiaizk at a very heavy extreme for the latter country.
Xr/rr /—From Mr, A, E, Ja nw*n, professor of monetary questions In the School of Political Science at
Louvain, Belgium, who Is closely connected with the administration of the national bank of Belgium
end who has Been appointed by the Belgian Government as sectary general of the commlwion for the
Study of currency reforms, I have obtained the following comment* regarding the figures given above:
G t 1 he Government has no metallic reserve with Uac exception of the small amount* used in Its current
operations, Tlie Government reserve is In the form of foreign bills of exchange, payable by agreement
i/4 gold at sight, and the balance to tlie credit of the Gov eminent in account current with the national bank,
6/ '/ o tli S f i /ore of 21 fra nos, J'rof. J an vn b*l ic ve* that there should lie added a sura of 1 JW/JOO/JOO
bwr*. the amount of hills of exchange and assets In gold (disporiHihiJiti^u abroad, payable by agreement
in gold at eight, and Included in the metallic reserve In the calculation of the legal reserve. Thus, In nis
opinion, the gold reserve of the bank on December 31 , 1V12, was mjMOjWO francs, to which should 1/e added
70/^vA> francs of silver— a total of 4»JOOOftOO franc*. , _ . , .. . ,
(This met tee I of counting £* f/art of the metallic reserve of the national bank of Belgium the foreign
negotiable paper or discount* held by tlie bank Is unfair for the triple reason thaU-
('fly fn a European crisis such foreign negotiable paper might ruA l/e redeemed in gold.
7 he paper held by central banks In other countries consists partly of drafts upon i the national
tank of Belgium and upon the g//ld reserve of said l/ank, ami such draft* j/robably offset tlie negotiable
paper field 1/y tlie Belgium bank. . ,
”c» I f the said antral bank* of other countries were to count negotiable paper similarly as part of their
met JI^ reserve, tlie apparent metallic reserve of Europe would l/e greatly in excess of tlie true metallic
BG 7 l»e money in circulation Is principally In the form of silver pieces ( nickel and copper for ptoccsof'
2fy ^fiUmes and lees), and of national bank bills, which bills are issued in denominations of 1,000, 1500, 100,
W,,The avs tagsof the circulation of bills in 1012 was as follows: Francs
IsiJhurf . .
- . . . 10,334, 170-W0, 149. «30
H No bill* arc waned l»y HUtto bank* in Itolglum. Thonational bank, which is
muiar tho control of tho State, of which it i* thecanhier, alono iwrne* bank note* payable
«t «yit twr the national bank, , . . , . , ,
'/ lore bill* have Jt“-al circulation between private parties ho Ion# an (he bank pays
thorn at xitcht and the Htato accepts them, ^ . . .
On December 31, 1012, the Government report* the amount of bill* in circulation
to hive amounterl Ur 1,034, «I«,J20 franca (compare nolo 3 queation 7, above)
OiUhidate the amount of tho metallic reserve of the bank wa* according to Gov¬
ernment fii/uroH, 283,403,930 franc* (compare note 2, question 7, above),
q be barilf powMWHed, m addition, foreign negotiable paper or dmcount* valued a
ir/> /'hi 1 70 s whuh the Govern merit cl afmu in real usable in gold.
e’ Kiumim’gild during 1012: lligheat premium per 1,000 on J'ane in 1912,
71 frufK M* lowest premium por l,fXX) on i'arm in 1912, H francs. .
Ah ryflrdn tbe monetary circulation in the interior of tho country, tho Belgian
^’•‘Ttorcl^'oiio'millm on gold agairwt either *Uvcr money or the hank note* of I the
natimmipi ' That bangkl are
SlSSni'. KTttor have the 3gbt L oa« t a premium when they give gold in ex-
< hanpu for notus.M
156
REPORT OF THE DIRECTOR OF THE MIXT.
°* the Government is inaccurate. 'While theoretically the
national hank of Belgium is supposed to redeem its notes in gold, practically it refuses
o do so and from this refusal there results actually a premium on gold within the
“Zn “Vfi? e,xcha^ge on Paris 8ho,m hi the above figures. On April
n/pli ^ fJJie ®t?ff °f legation presented a 100-franc note of the national bank
t W wlnft lnf button for redemption in gold. The request was refused. He
then went to the Deutsche Bank, in Brussels, where he had to pay 65 centimes in ad<li
Sacs m^ld00 0 ”0te °f ‘he mti<u>al bank of Bel*ium n
a "*”* rticfc » »"t to
12 (a). Imports and exports of gold during the calendar year 1912:
GOLD.
Country.
Imports.
Exports.
Coin.
j Bullion.
Ore.
Coin. 1 Bullion.
Ore.
Germany ..
France .
Great Britain .
Kongo .
Francs.
31,000
7.855,400
10,304,400
Francs.
1,204,720
4,580,674
60,236
2,401,226
43,808
24,642
5,476
’io'952’
10,952
Francs.
1,882
2,260
150
Francs.
117,800
2,042.900
Francs.
132,868
380,588
2,252
Francs.
Austria .
United States..
100
30
. 500*
Abyssinia.
Luxemburg .
Mexico .
Italy . .
. 24,800
.
. 2*252*
.
Holland . .
22,520
105,844
Hamburg. ..
8,400
254,260
18.600
3,100
21,7100
Switzerland.
5,4*6
100
Total .
18,237,300
8,348, 162
13,422
2,436.600
)
648.576 j.
SILVER.
Germany....
19 Afifi
1 1 AO AAA
300
France .
Great Britain
OUU
265,488,000
1 f 103 « 990
1,758,434
20.200
36,319.600
62.200
1,118,000
2,550
1.708.602
1,430,958
3S, 700
Kongo ....
Austria .
•
%
%
1
1
1,810,258
5,000
Canaries .
Luxemburg....
Mexico. . . .
Italy....
11,400
. 318*
31,270
. .
102
.
Holland .
Hamburg....
Spain .
48,000
323,400
6,890
212
212
24,200
1.000
6,099,000
204
714
5,202
Argentina .
Canada .
Chile . .
Portugal .
.
110,000
10.900
. 800*
«••••••••••.
. . .
1 otai. .
265.941.400
4.729,604
246.800
43.045.000
3,148,332
38.700
[Translation.]
Gehe^l Abstract op the Operates op the Beec.ar Miht m m2
NATIONAL COINS STRUCK IN 1912.
Mt&rttrto 4, 1908, Belgium
230,000,000 francs. coinage of fractional silver coins to the amount of
or tk z mitt sEimaE.
2->:
TlttX vJ&c.rz.j wmt to * 'y*C‘.-jh 'n jafca Tja *r. uiatf®- Mrs**? et'W'
6a ijsr/istt 4 ft; eecdnMS r6*&aai 2zr.-jzZ.-j wn&r. Ia 112*0*- 'jl2t fcjr aasa^.-
<( 6a «■£&■*£ 4 t^’jsraz. ats. i=<i ah»r -4 -6a .id Zryjr^wryr.% ->a*a 4
6a Sabc. , T5a lr« 1v.**a nrar.<a*t <~o'.'-x.~ixsr v. T6145 //.i fcjot* ■* »?* *'«#: Sr.tn
IXft v, iilL Li 5*1.2 "-ia fcar6 4rar.<u *vi V. 6a i^iva: '4 * '//. XO faao.
l.r ‘. if “fJteatfc ’Z*ry *_w. fs* xji fei'i va 4 * 2iW* 1» frUA® "X VjS
wiQl 6a 4 \sfif <A I kui TJ#2 .22ft irtr.r* wiry. 6a .Tiagr 4 Letgpii
11 «u£ '4 ca Tti-Ar 4 ¥. IK faa«.
TiA nsaz&r&i t*x.rjpA to 6a -jwknsi wan faja 1*22 to li3&. Tbsy
4kii ii %r*x3tgK 1cm k. a-*krj44 4.1 6aM»ai6* 6Acr *t«=«a ±ia!K* aeh?
TiA Slvcar.itiA -*•» «w»*fcft4 evcus&tr. 4 '3. rA* ina*x za <fe* '4 » faaa tot
j— a <■ fac6— I ypw _ Ik* <m» <4 gtal— iwePy » MW)
asL/l ji>r,ViJ •wi6 tb« tr-yat «( *? <&& <4 6a sks*. ir^sit ®B Essie wxs~
T- A 3T *44-ft>4 k&.n'x» w.y"X^r. bf 6a r~n*vt.--r 4 «*s 4 6a ar.esp* T*hA
4 % '2s4 24ft fr2.-A.-1 wurrv: frx 6A -rcaB 4 6a i >/ .*» iaaAt 4 ia* JwtmbiI
I OHM MB 6c mwil wtiww wK4 haat_6a_4j6gllBM<>e_e^jajBBe_6e_
feATAAt 4 6a **» re-swis*^ tiC 6as 4 6a fc*r*r.*k «itt *rark-
Ifcar^r y v.ca Ir 6a »*rr.«» at^aha»4 sa-’Ka" s« a* ri
ar,>at 4 5*X
*rriA*d itt i.-t.wi:
yrAm fr/» 6a 'rjcaee r*r,r*ffst 2* fcA
T-a <ws4jft 4 6a ). //< VJ
b Mam* ji*m> - — - -
fa - i - —
ii to*saCjn.t* yu»**. - - - . -
XiAsnecasKr ixASAaa J'.c 6a 6**a
ft/acys% Ojds JLucn.' 7Cixi aj
.. 4
wnrAi 'AtAMca * >444 ax*£ VA’r.
Jt»T a Bcraiu icsas till
K<* Kl»-
y«w ^ i 7i^i- ±*b-.axiilT2h* .: IKbim
inmcr
Ktt SMHUXU.
— . . _«u j.- jaJ *s 11— ?»rs J ^ EMBrnMCw-
J£Z2£E£U* *. ?S
,-^w, «
“irf^VidAT A>CLAi tffett&te Br^fc. « pm 4 6a < ’>»
c*juj%r <jt ?ai */>*<»-
„ __ JljtirV: u ,a lev 40cV4a? I*. I**, orx^s^in? 6ft Bdp»Ka^g>.
ByTirt»ft4»rAelft « fcdcriexi are errrett ^er ike mne
rsSPiSJfSf^K «*.
5>r ^'%s?TiSviS ^
rrSj»'< ^ **“• “* °c*/fc'' u
Br 2«» 6a Udef*®^ S4»*e -r . * «*“ ^
^ Vfaa^ I*®0*, -'*** retotivA »» aar>e3* 4 M« /*^£jCa
*S5J]Sii to 1*12 dATft k*v<t - ^*V?£rr&*! i-w Iaw ^ ^**7-
158
REPORT OF THE DIRECTOR OF THE MINT.
On January 1, 1913, a reserve of special minor coins of the nominal value of 339 300
francs in nickel pieces and of 14,800 francs in copper pieces was established at ’(he
mint, to be remitted to the colony in proportion to its needs.
The colony possessed besides 437,395 francs in old silver pieces, 235,000 francs in
old nickel pieces, 33,815 francs in old copper pieces not yet remelted.
The legal monetary circulation of the Kongo is composed equally of silver coins of
the different countries of the Latin Union, especially of France, which have been
imported in the ordinary way of exchanges.
GUARANTY OF GOLD AND SILVER WORKS.
In 1912 the gold works submitted to the bureau of guaranty were 8 in number.
These few articles consisted principally of rings and wedding-rings, of the legal fine¬
ness of 750 thousandths (18 carats).
The silver works submitted for stamping were 202 in number. They were all of
the legal fineness of 0.800, except two articles of the fineness of 0.900.
As in preceding years, these results point out the degree of insignificance which,
in our country, is assigned to the service of the guaranty since the law of June 5, 1868,
which declared the manufacture of all gold and silver articles free and suppressed the
obligator}' registry duty. The law permits only the verification and stamp of the
assay er, upon the voluntary requisition of the interested parties, that the gold and
silver manufactured works have certain defined finenesses.
The bureau of guaranty, which formerly, administratively, formed part of the
administration of contributions assessed, customs and excises, lias, for the past throe
years been transferred to the management of the mint. The duties are performed
by an assay er in the laboratory of the mint designated for that purpose by ministerial
royal decree of January 18, 1910.
The law of June 5, 1808, suppressed the registry' of the State of refined and unrefined
gold and silver ingots (bars) from being obligatory to be optional.
Nevertheless, the assaver of the guaranty bureau, conforming to the administra¬
tive instructions given in 1869, had continued to comply with file demands of inter¬
ested parties and to mark, in accordance with the old tariff rates, the fineness of gold
and silver ingots.
The law of December 29, 1909, containing the budget of way's and means for the
sendee of 1910 (arts. 0 and 7), regularized this system by establishing legally the
official right for the public to ascertain the fineness of ingots and other unmanufac¬
tured materials through the assayer for the State. The principal expenses of the
assay are to be paid for by the treasury.
The materials assayed in 1912 were distributed as follows:
Description.
Number.
Weight.
Silver assays .
29
214
369
IS
7
20
53
Kilograms.
61.883
61.527
| 170.505
Gold, plated gold, and gold combined with silver .
liars containing platinum .
Platinum filings .
Residuos, “ ashes from gold and silver smiths :
Containing silver .
i ontammg gold .
Containing platinum .
Total .
710
—
In 1912 tho assayer of the bureau of guaranty verified, besides, for the administra¬
tion of customs, 29 articles of jewelry and gold and silver smiths’ work.
MONETARY CIRCULATION.
Our interior circulation is almost entirely fiduciary*. Gold has disappeared, and
the ^yus of 5 francs, which are valued by gold in the countries of the Latin Union,
diminish more and more. Their amount was valued during the last 30 years at
200,200,000; they do not appear to be but little more to-day than 100,000,000, not¬
withstanding tho increase of the population and tho enormous development <»f
commerce and industry.
As an offset, tho circulation of hank notes has passed from 313,000.000 in 1880 to
382,000,000 iu 1890, to 570,000,000 in 1900, to 820,000,000 in 1910, and to 882,000,000
in 1911.
OPERATIONS OF THE MINT SERVICE.
159
Especially the circulation of the denomination of 20 francs, which is partly sub¬
stituted for the 5-franc piece, to the amount of 14,000,000 in 1880, to 40,000,000 in 1890,
to 87,000,000 in 1900, to 171,000,000 in 1910, and to 186,000,000 in 1911.
With regard to the fiduciary circulation, the reserve of the national bank up to May
2, 1912, in round figures, was as follows:
Francs.
In gold coins . 190,000,000
In 4qus . 50, 000, 000
In foreign drafts...- . 143, 000, 000
In fractional silver and minor coins . - . 9, 000, 000
Total . 392,000,000
DENMARK.
1. Gold and silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
185,981
Kronor.
3,719,620.00
Silver (new coinage):
101,917
203,834.00
1,950,741
195,074. 10
2,052,658
398,908. 10
^Approximate ’stock of goid and silver coined and bullion in the country on
December 31, 1912:
Classification.
Gold coin .
Gold bullion .
Silver coin .
In public
treasuries.
Kronor.
157, 000,000
l 19,300,000
23,000,000
i Answers received from the official of the National Bank in Copenhagen.
8. Bank notes outstanding at the end of the year 1912.
Institution.
Notes out¬
standing.
Gold hold¬
ings.
Legal-tender
silver hold¬
ings.
Kronor.
145,700,000
Kronor.
71,300,000
Kronor.
5,000,000
10. Regulation atuchedfor the derign. of the 1, 10, and 20 kronor pieces.
11 Regulations attached for fiscal year 19111-
12! (a) Imports and exports of gold dunng the year 19
Country.
Norway .
Sweden .
Total..--- .
England . . -
Imports,
bullion.
Kronor .
16,500,000
Exports,
coin.
Kronor.
2,000,000
12,000,000
14,200,200
. *i iiivnnr. tho veir 1912.* No figures from the bank
12 (6). Imports mint replies to this question as ‘ ‘Unknown.”
in this connection, and the direc
160
REPORT OF THE DIRECTOR OF THE MINT,
FRANCE.
1. Amount of gold and silver coined during the calendar year 1912:
Denomination.
Pieces. Value.
Gold:
100 francs .
20,045
10,331,805
1,775,507
Francs.
2,004.500
206,636,100
17,555,070
20 francs .
10 francs .
Total .
12,127,357
1 226,195,670
Silver:
2 francs .
1,000,000
10,001,000
16,000,000
2,000,000
10,001,000
8,000,000
1 franc .
50 centimes . . .
Total .
27,001,000
*20,001,000
1 Of which amount 17.555,070 francs was from the recoin age of 10-franc pieces.
* All recoinage from old 5-franc pieces.
2 (a). Coinage executed for foreign Governments during 1912:
FOR FRENCH INDO-CHINA.
Denomination.
Pieces.
Nominal
value.
Silver:
20/100 piaster .
160,500
2,500,000
Piasters.
32,100
250,000
10/100 piaster .
Total .
2,660,500
17,027,300
282,100
170,273
Bronze:
1/100 piaster .
FOR GREECE.
Nickel:
lOlepta .
49S, 31S
202,108
Drachmas.
49,831.80
10,105.40
5 lepta .
Total .
700,426
59,937.20
FOR TUNIS.
Gold:
20 francs . .
23
83
Francs.
460.00
830.00
10 francs .
Total .
106
1,29<XW
Silver:
2 francs .
200,303
500,703
201,003
400.606.00
500,703.00
100,501-50
1 franc .
50 centimes .
Total .
902,009
1,001^510^
Bronze:
10 centimes .
500,000
1,000,000
50.000-00
50,000.00
5 centimes .
Total .
1,500,000
100, 000.00
FOR MOROCCO.
Silver:
1 rial .
trial . .
4,739,684
3,356,736
2,633,673
Rials-
4,739.t»*00
1,678,36^00
’658.418^
X rial .
Total .
10,730,093
7,076,470.25
OPERATIONS OF THE MINT SERVICE.
161
FOR VENEZUELA.
Denomination.
Pieces.
Nominal
Value.
Gold:
20 bolivars .
150,000
Bolivars.
3,000,000
Total .
150,000
3,000,000
Silver:
ft bolivars . . .
695,984
500,000
320,000
1,920,280
800,000
3,479,920
1,000,000
320,000
960,140
200,000
2 bolivars . . . . . - - -
1 bolivar . - . .
i bolivar . .
Total .
4,236,264
5,960,060
2 (6), 4, 5, 10, and 12 (a and b): None.
*******
7. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1912:
Classification.
In Bank of
France. (Metal¬
lic reserve
Dec., 1912.)
In circulation.
Francs.
Francs.
4,800,000,000
2 I'M 000 000
£d y 1017 7 \JvJ\J J \7v/\7
3,896,000,000
6,930,000,000
8. Bank notes outstanding at the end of the year 1912:
Notes.
Notes
outstanding.
Metallic
reserve.
Francs.
5,584,000,000
Francs .
3,896,000,000
Uncovered bank notes, 1,688,000,000 francs.
9. Premium on gold during 1912: Gold was at par until October 7, 1912; since then
“T CopFM”tt“l0.w8?fNOTemberl7, 1897 and December 29, 1911, continuing the
PrilUTcopy of Uten«^rtofntheai rommSon of7ontrol and a copy of the report of
the minister of finance are sent herewith.
Tnw of Auaust 4 191S, sanctioning the retirement of French bronze coins in circulation
Law of August 4, 2^ ^ repUmmt by nM perforated coins.
[From Bulletin de Statistique, Paris, August, 1913.]
The Senate and Chamber of , w t es t'he'lawof which the tenor is as follows:
The President of the Republ c ] ;rrU[ati0n in France and in Algiers, the
Aeticle 1 . There shall to of the laws of May 6. 18S2.
10 and 5 centimes bronze pieces, manufactured > ber 24, 1910, alto the 21-
S MA^cy and
bc uxed by dtwe3-
24950° — 1-1
162
BEPOBT OF THE DIRECTOR OF THE MINT.
Article 3. The coins retired in execution of article 1 of the present law will be
replaced by pure nickel coins of 25. 10, and 5 centimes. These pieces will be pierced
in the center with a round hole, and manufactured under the following conditions:
Denomination.
Weight.
Composition.
Weight.
i Legal tender.
Value in
United Sums
money.
Nickel:
25 centimes....
10 centimes....
5 centimes .
Bronze:
2 centimes .
1 centime .
Grams.
5.0000
4. COCO
3.0000
2.0000
1.0000
| Pure nickel .
Grains,
i 77.1000
\ 61.7280
l 46.2960
| 30. $640
1 To the amount of 5
( francs.
!
fTo the amount of 5
l francs-
( 10.0500
< -0405
l .cacs
1 .COS*
/ .an*
(95 per cent copper. 4
<! per cent tin, and 1
1 per cent zinc.
Article 4. The selection of the designs for the new coins will be made by agreement
in convention. They must comprise two proofs: The first, which shall bear upon
the drawings of the designs, will be eliminatory: the second, which shall bear upon
the admitted designs for their execution into the coins, shall be decided upon by
choice. The conditions of the convention and the composition of the jury will be
determined by a decree. The types of the new coins will afterwards t>e fixed by
decree.
Article 5. The total issue of the 25. 10, and 5 centimes pieces, established by the
Jjresent law. and of the 2-centimes and 1-centime bronze piece established by the
aw of May 6. 1S52, shall not exceed the accumulated amount of the contingents fixed
by the law of December 24. 1910, for the bronze pieces of 10. 5, 2, and 1 centime and
by the law of March 31. 1903. for the pure nickel 25-centimes pieces.
Article 6. The new nickel coins will not have to be accepted in payments,
except by private agreement, for more than the value of the 5-francs piece.
Article 7. With a view to providing for the replacement of the coins of which the
retirement is ordained by the present law. they will be credited to the budget attached
to the coins and medals as part of the service of 1913.
1st. Of the proceeds from the issue of the nickel coins.
2nd. Of the proceeds from the sale or the transformation of metal resulting from
the pieces retired from circulation.
3rd. Of the surplus of the receipts over expenses resulting from the remainder of
the operations effected in the course oi the preceding service as much for the issue
of the new coins as for the retirement of the old ones. ~
Article 8. The profits resulting from the entire operations will be diverted to the
reserve funds designed for the maintenance of the monetary circulation.
The present law, deliberated upon and adopted bv the "Senate and Chamber of
Deputies, shall be executed as a law of the State.
Made at Paris. August 4. 1913.
By the President of the Republic,
R. Poincare-
i he Minister of Finances,
GERMAXY.
Charles Dlroxt.
1. The gold coinage in the calendar year 1912 was as follows:
Denomination. Piece,
Value-
Doable crowns (20 marks) .
Ctowtk f 1A irartc i ”
6,382.991
851,601
izr.65s.3B
S,Se,<H3
Total .
7,364,562
136.4T5.SO
-JSf, .-7“ made “> fit for circulation of the
weight of o,o30.1610 kilograms and irom gold bars all purchased from the Reichsbsmk.
The silver coinage in 1912 was as follow?:
Denomina: km.
Pieces.
Yah*-
3 murk* .
f . — - - - ...
S, 227.911
1,46S.S24
2.9S:.c^
30 pfennigs. . . .
4.179.402
t% tar* v v
Total .
5, 1 S3, 666
19.059,793
2, W1 .
34 ,332.**
OPERATIONS OF THE MINT SERVICE.
163
2 (a). Coins struck at the Hamburg mint during 1912:
FOR GERMAN EAST AFRICA.
Denomination.
Pieces.
Value.
Silver:
300,000
200,000
400,000
Rupees.
300,000
100,000
100,000
900,000
500,000
2 (6)v 9, 10, and^ll. No. # » * * *
4 Only gold and silver coins no longer fit for circulation and new gold and silver
bare were used by the mint for coinage during 1912-
5 No United States gold coins were imported during mz.
' »
7 Stock of gold and silver coin and bullion in the country on December 31, 1912:
Marks.
0.14 up «, .to «4 of B~»b«. '« <•*« ***»• . '“S
439, 314, UUU
. 776,648,000
sih»T^’«p’ » to ■* b— ». •« <•*« .
Silver coins in Reichsbank on same date .
The amount of gold and silver held by the treasury is not known, except as to t te
available war fund of.l20!000,0W nmrks in gdd^coin. amounted to 2,674,300,000
“d ■“’* “m
or bullion. t f„ndine‘ are to the amount of 120,000,000 marks,
JJf -hkh thG Empire h°ldS " reSerVe'
an?2^«eandeSDImpSeslnd exports of gold and silver during the calendar year 1912:
GOLD.
Imports.
Coin.
Domestic.
Kilo-
grams.
46,815
Foreign
Kilo¬
grams.
7,853
Marks.
137,677,615
Ore.
Kilo¬
grams.
309,000
Marks.
Extracted
from
crude,
alloyed,
dust, and
filings.
Kilograms.
61,389
Marks.
137,648, 127
Scrap
ana
sweep¬
ings.
Kilo¬
grams.
324,911
Kilo¬
grams.
45,027
Marks.
2,965,755
Kilo¬
grams.
Marks.
Kilo¬
grams.
1,887,500
Marks.
Kilograms.
509,057
Marks.
38, 179,275
Kilo¬
grams.
(l)
Exports.
Coin.
Extracted
from
crude,
alloyed,
dust, and
filings.
Scrap
and
sweep¬
ings.
Domestic.
Foreign.
Kilo¬
grams.
27,938
Mar
88,497
Kilo¬
grams.
7,468
ks.
,000
Kilograms.
7,302
Marks.
20,017,000
Kilograms.
Marks.
l.
Kilo-
orams.
26,656
forks.
4,286,000
Kilo¬
grams.
Marks.
Kilograms.
322,655
Marks.
28,782,000
Kilograms.
147,097
Marks.
1,147,000
„old „ud .liver Not ««*»>“>. •>
, Gold and *« — — *££
353 kilograms, valued ai o,o/o,«w
164
REPORT OF THE DIRECTOR OF THE MINT.
Germany’s stock op gold.
Tlie Frankfurter Zeitung in a recent issue deprecates the lack of reliable statistic
Arn^rW Tr °f g-° d m Germany- A few years aS° the statistics compiled in
America of Germany s gold reserve passed unchallenged at 4,500,000,00() marks
?ow been ^creased to 5,000,000,000, but earnest attempts havebmi
made lately to get nearer the truth. The Frankfurter in August, 1910 estimated
Germany s gold, exclusive of that in the Julius Tower, at 2,800,000,000 marks and
Practically confirmed by the writings of Dr. Arnold, a Reichsbank director
who put the German minted gold at the end of 1909 at between 2,750,000 to 2 850 000
marks, and at the end of 1910 his estimate was 3,000,000,000 marks. What change
fff ^frebeenm the 3* years? To obtain an accurate idea of this, not only S
inJPort8 and exports be accurately given, but the amount used in industry
calculated with fair precision. The foreign commerce figures give the value
bp n!f S imP°rtod and exported, but even official statistics are apt to
a?di can take account, for instance, of the large sums of money
Thp iV?^l ea7e tke country on the persons of tourists and other travelers5
50^ 850 OOOm^ mtums m°W th-at between January 1, 1910, and March 31, 1913,
me^5tiia°t tbP npMn g°ld Wa8frp.0rted than exPorted. Naturally this does not
increase was this important amount, as industry and ornaments
made for 189^7 3^1 one .Inclulrles as to this home consumption were
4tr on A non 97 afd for,1^0677 • Tlie former year’s consumption by industry, etc.,
that from 110 000 OOO to^oo on^onn^8,3 ?8,'?50,000] n.iarks- Tke Reichsbank assumes
bptwppn 49 m i Vc t0 120,000,000 marks is used for industrial purposes, of which
vp«r ?a wt! ri45 Pf+?e.nt wa? 8°ld that bad been in the country before 1910, the
year to which these statistics refer. J ’
qe^nn rwfeiICaf Directo5 °J ^he ^int considers that in this year Germany used about
ffieToCwSrpaftTod ^^OOfiOO-voming from gold which Ld been in
Smm?ledX,irP« wwl°' .Th® Germai1 Gold and Silver Anstalt in Frankfort has
SfmSoi f Is §*ve dlff,erent resolts. It is estimated that, allowing for
marks m mdustry ’ there 8hould remain from 158,000,000 to 333,000,000
?150 000 tn a l^ nnoGeraiany ? gold re‘5erve> which has in that period risen from
several montb^PvV0^0^?—! ^ must be remembered that the Reichsbank has in
inISce 60 ^) OfH?^SLna^fly 7,creased the gold imports. In December, 1912, for
nlmJKftrnnSS00 marks of gol,d. waa brought into Germany, and in March, 1913,
buThttteCpSp^T^11 f°r ^hi8 “forci^” the gold reserve would have shown
certoamnnnfpfa The f°reg°iag contradictory figures, from which, however, a
lively necessary a detS'gold^S&y is ’ 0Ur contemPorarJ’> how iml>en*-
GREAT BRITAIN.
1. Amount of gold and silver coined during the calendar year 1912:
Denomination.
Gold:
Sovereigns _
Half-so vereigns .
Total.
Silver:
Half-crowns.
Florins .
Shillings . . . .
Sixpences...
Threepences.
Total.
Maundy :
Fourponces . .
Threepences.
Twopcnces...
Fence .
Pieces.
Value.
30,295,715
6,220,000
£ s. d.
130,295,715 0 0
3,110,000 0 0
36,515,715
33, 405, 715 0 0
4,984,848
8,049, 640
14,921,280
10,985,040
8, 933, 760
.
. ;;
48,374,568
* 2,610, 4S7 9
Pieces.
1,355
1,246
1,355
1,447
. . *
^ £3’ll9 J^150-000* w>iShi"£
£16,537 in half-sovereigns, total £102 000 roooiv^H uc k Oi 9,512,1?s* bd » aIso £85,463 in sovereigns ami
"^hichfei"SfS?!,'3ni“s iS,K‘T'd 8 25,M0 '0“c'
22,428.10 ounces, standard. ’ ’ 113 from recomage of mixed dollars unspecified, weighing
OPERATIONS OF THE MINT SERVICE. 165
oinage executed for other Governments during 1912: Australia, in silver
1 -shilling, 6-pence, and 3-pence pieces, £250,000; Newfoundland, in silver
l-cent, and 5-cent pieces, $100,000; Mauritius, in bronze 2-cent pieces, 5,000
rupees; East Africa and Uganda, m silver 50-cent and 25-cent pieces, 95,000 rupees.
2 (6), and 4. None. r
5: Value of gold ore and gold bullion imported into the United Kingdom from
United States of America in 1912:
2 (a). (
2-sliilling.
20-cent, 1
Classification.
Gold ore . .
Gold bullion:
Unrefined in dust, amalgam and bars
Refined, in bars . .
Total .
Value.
£1,758
10,323
6, 464
16,786
Note.— The returns do not distinguish the nationalities of foreign gold coin imported into the United
Kingdom.
No United States gold coin melted at mints.
* ******
7. Approximate stock of gold and silver coin and bullion in the country on December
31, 1912:
Classification.
In banks.
In circulation.
Gold coin .
1 £44,000,000
6,000,000
i £69,000,000
20,000,000
Silver coin ... . . . .
1 Figures of 1910, since when no estimate has been made.
No information available regarding the stock of gold and silver bullion.
8. No notes are issued by the Government. The average weekly circulation for
the month ended December 11, 1912, was as follows:
Bank of England (month ended December 11)
Private banks .
Joint stock banks .
£28,373,234
80, 727
80,070
Total in England
Total in Scotland
Total in Ireland. .
28,534,031
8,005,969
7,828, 029
Total for United Kingdom
Deduct for:
44,368, 029
mV Pnlh omn and bullion held in the Bank of England against notes in circulation . 9,923,630
(2) Gold and sifver in Scottish andlrish banks of issue held against notes . 1 10,510.382
Total.
20,434,012
Amount of bank notes outstanding not covered by legal tender gold and silver coin or bullion f ^
at the end of the year . .
9 Premium on gold during 1912: Per ounce, standard, highest price, s. 77 d. 9J;
lowest price, b. 77 d. 9; average price, s 77 d 9.
10. No change in currency was made in 1912.
0/vXDortea?VlU™oM aXilver during the ,-aleiular year 1912.
i SKSEffi dirsiiis!'® *»' ss *
166
REPORT OF THE DIRECTOR OF THE MINT.
145,373 I 546,270
OPERATIONS OF THE MINT SERVICE.
167
old and silver ore , and of gold leaves,
168
REPORT OF THE DIRECTOR OF THE MINT.
63, 1541
10,005
OPERATIONS OF THE MINT SERVICE,
169
A return, showing the exports from the United Kingdom of each description of gold arid silver coin and bullion during the year 1012, and showing the
countries to which consigned .
170
REPORT OF THE DIRECTOR OF THE MIXT.
OPERATIONS OF THE MINT SERVICE,
171
172
REPORT OF THE DIRECTOR OF THE MIXT.
■*—
I"
C
© c 5
*£> ofi .
C g£ t; "S3
ill8
Car
SJ
>
5sSooiissi?:ggg-||^
® -* c: -4 rc
^ aocdcro
of
c c
Si
iilsll ilsilillgi
*~*iw " ® it3SSSjS2S'
° -+ es£sr
£
QO
14,000
OPERATIONS OF THE MINT SERVICE
173
Statistical Office. ~ - - -
Cuitun Hon*', London , E. C.t (Signed) S. Bozman
June 10, 1913. Deputy Princivol .
174
REPORT OF THE DIRECTOR OF THE MUST.
cotacUhil°cS«.COIreCtiOM "* “PP*^ d«cripti»n of d*
<3^Ut' °* GM Coaet- “d Britiah Ctatae. ••
ac£iSei0?Sr,*g*figUW8 W0Vld approximate more nearly the weight* given in a.
“Silver”: coinage act than those printed in the tables headed “Gold ’’and
Gold.
Grams grams. Silver.
Grams. Fine
grams.
(3) Miner coins.
Weight.
5 pounds .
2 pounds .
Sovereigns. . .
Half sovereigns ....
39.4030
15.9761
7.9380
3.9940
36.6119 Half crown..
14.6450 Florin....
7.3224 1 STh fllincr
3.6612 Sixpence .
14.3800 j 13.0776
11.3104 10.4621
5.6552 5.2311
2. 8276 2. 6155
Penny .
Halfpenny . .
Farming
Or aim.
145.8333
87.5000
43.7500
is aiVto^SSS^ii811 rati° b®t!reeu foId and silver in the coinage of Great Britain
or £2 (equal to *9 .732 0nly ^ n0t e*ceedin* 40e-
“»re
The British token UcutTencvi8 in u£ ?n £f “} th-e def£ptl?n aait now" BtaadB:
ifta sssssr fqiSiftsSarSF a 5®**
Guiana and the West Indies and «v!£fct?- f^?1^ struck for circulation m Bntiih
Malta. The Isknds of JctSv Sd farthm^ circulation exclusively in
special design for local circulation * The^rfriS?^1'’6 ^ve bronze coinage of
nSw SinS* AMcan C°l0nie8 «•**■* graduaUy b?£
ling or Bovereignfat^the^te^^l^sef^il^^ are legal tender and also the pound ster-
GREECE.
I, 2 (a and 6), 3, 4, 5 6. 10, 11, and 12. Unknown
7. Approximate stock of gold and silver in the country on December 31, 1912:
Classification.
Drachmas,
0007000 1 1 15, 000. coo
Gold coin .
Gold bullion . . . .
Silver coin . . I
Silver bullion . .I""!"!""::"""""-";";;"--* . " r4’
and 20 lepu. “r£re addition a or nickel ofl-2, 5. M-
is no mint m Greece, and most of the new sflrerandhw^ *^r^hinagold pieces in circulation. There
iuckei coins have been struck in Paris.
of wWcfiw^.OWdrSStatl^^if^ifd^6 yefK 1912 208,000.000 drachmas,
were covered Lv bills on Paris or Undon \pS2y.gt°ld- and ^.OOO.OOO drmch nus
500, and 1,000 drachma notes.; ' t-Paper notes consisting of 5, 10, 25, 100,
OPERATIONS OF THE MINT SERVICE,
175
ITALY.
1. Amount of gold and Bilver coined curing the calendar year 1912:
Denomination.
. Pieces.
Value.
Gold (new coinage):
4,946
11,230
59, 970
6,796
Lire.
494,600
561,500
1, 199, 400
67,960
82.942
2.323,460
Silver (new coinage):
2, 166, 202
5,864,646
4,332,404
5,864,646
8,030,848
10, 197,050
The recoinage of native silver coins amounted to 3.579,911 lire.
old coins and bullion bought on the market.
******
7. Stock of gold and silver, December 31, 1912:
Classification.
Gold:
In coins —
Decimal .
Nondecimal .
Total . ....
In bullion . .
Silver:
In C Decimal, legal fineness, 0.900 .
Decimal, legal fineness, 0.835. . . * * " * .
Decimal, Eritrean Colony, lega fineness, 0.800 .
Decimal, Eritrean Colony, legal fineness, 0.835
Nondecimal .
Total .
In bullion . .
Nominal
value.
Liu.
385, 724,175
10, 143,832
395,868,067
1,122,885
111,844,505
4,259,355
397,815
275,724
173,005
116,950,404
4,984,004
ItSlM tt tfc Sml.Tra.orr. . IM.TO.067
Gold . ... 111,472,410
Silver— of n ooo . . . 3,790,136
Eritrean fractional corns an . 506,245,503
Total .
8. Bank stocks on December 31, 1912:
Description.
Note circulation . .
Gold . .
Portkinof tbere^rve'whkh guarantees tire ciren-
ration of the reserve winch guarantees debts at
Otlfer'cash in' die banks besides gold and stiver
Bailk of Italy-
Lire.
1,700, "7,000. 00
1.022, 025.418. 3S
123, 255, 004. 00
1,177,617,995.00
57,201,600.00
11,149,782.00
Bank of Naples. Bank of Sicily.
Liu.
421,231,250.00
215, 709,531.00
15,671,611.00
273,683,941.00
21,689.886.00
5, 3.89, 568. 00
Liu.
90, 124, 850. 00
48, 592. 625. 00
5.505,726.00
59.695,091.00
13,761.109.00
5, 590,394. 00
176 REPORT OF THE DIRECTOR OF THE MINT.
4
9. Premium on gold during 1912: Highest, 101.675; lowest, 100.425; average,
100 9336
10. Laws passed during 1912: Law No. 1346, of December 29, 1912, prolonging the
lawful currency of bank notes to December 31, 1913, and for reducing the circulation
tax upon the institute of issue with necessary precautions in proportion thereto. Law
No. 546, of May 23, 1912, for the retirement of Turkish coins irom the town of Tripoli,
and from Cyrenaica. They had besides, various decrees on the subject of coins as
well as for banks in application of the preceding law.
11. A copy of the mint report will be sent as soon as published.
12. (a) Imports and exports of gold in 1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Ore.
Coin, #
Ore.
Coin.
Ore.
Coin.
Ore.
Austria-Hungary
Kilo-
grams.
198
Kilo¬
grams.
Kilo¬
grams.
2,181
223
1,746
20
87
22
Kilo¬
grams.
Kilo¬
grams.
271
Kilo¬
grams.
19
Kilo¬
grams.
1,813
Kilo¬
grams.
477
Bulgaria
France .
2,754
2,941
2,016
24
15
693
8,395
13,699
255
12
2,011
214
51,551
6,832
107
210
6,688
320
18
5,079
8,206
932
11
4,631
Germany .
Great Britain .
Switzerland .
140
4
1
3
299
Africa
Central Ampripa
Colombia
Montenegro
238
39
24
25
Netherlands .
22
Russia
U nited States .
13
1
2
Eritrea
1
1
Vene7.npla
Turkey, European . . .
15
Denmark .
1
4
Malta .
4
Total .
3, 101
156
8
2,937
4,998
4,606
9,387
16,490
58, 719
13,952
11,323
By railway .
2,069
26
2,903
88
50
4,468
9,387
15,033
254
1,203
50,777
107
7,835
11,582
10
2,360
13^625
17
6S1
By Navigation So¬
ciety .
By packet boat .
For cred it insti t u t ion
2,239
457
59
22,177
8,253
4,354
NETHERLANDS.
1. Amount of gold and silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
Gold:
10 guldens. .
3,000,000
1,000,000
Florin*.
30,000,000
5,000,000
5 guldens .
Total .
4,000,000
35,000.000
Silver:
1 gulden .
* gulden .
\ gulden .
1 3,000,000
1 4,000,000
i 10,000,000
i 25,000,000
* 1,600,000
*4,000,000
3,000.000
2,000,000
2,500,000
2,500,000
400,000
400,000
n gulden . . . . . .
\ gulden .
gulden . .
Total .
47,600,000
10,800,000
i For mother country.
* For Netherlands Indies.
OPERATIONS OF THE MINT SERVICE.
177
2 (a and b), 4, 5, and 9. None.
*******
7. Approximate stock of gold and silver in the country on December 31, 1912:
Classification.
In public
treasuries.
In
Netherlands
bank.
In
circulation.
Gold coin .
Florins.
243,375
Florins.
41,615,000
120, 159,000
8,082,000
Florins .
Unknown.
Gold bullion .
Silver coin .
490,571
60,115,400
Silver bullion .
Total .
733, 946
169,856,000
60,115,400
8. Bank notes outstanding at the end of the year 1912:
Notes.
Notes
outstanding.
Gold
holdings.
Legal-
tender
silver
holdings.
Banks of issue .
Florins.
317,117,000
Florins.
161,774,000
Florins.
8,082,000
10. Coinage law of October 31, 1912, annulling the coinage law of May 28, 1901,
prescribed as follows for the Netherlands and Netherlands-Indies:
Lawful gold coins with full paying power in any amount are as follows: 10-gulden
(florin) pieces and 5-gulden pieces.
Silver coins for payment in limited amount: Riksdollar (2£ guldens), gulden (or
florin), i gulden, i gulden, ^ gulden.
Nickel coins: 5-cent pieces.
Copper coins: 2£-cent pieces, 1-cent pieces, £-cent pieces.
Riksdollars of 2£ guldens are only coins of reckoning in calculations in the country
and are to be withdrawn from circulation and recoined by the Netherlands into lawful
silver coins for the Netherlands-Indies.
The Netherlands coins with their weight, fineness, etc., are as follows:
GOLD.
Denomination.
Weight.
Fineness.
Fine
weight.
Weight.
Pure gold
or silver
contained.
Value in
United
States
money.
10 guldens (florins) .
5 guldens (florins) .
Ducat1 . - .
Grams.
6.7200
3.3600
3. 4940
Thou¬
sandths.
900
900
983
Grams.
6. 0480
3.0240
3.4346
Grains.
103. 7030
51. 8515
53. 9194
Grains.
93. 3327
46.6664
53.0027
$4. 0195
2. 0098
2. 2826
SILVER.
florins.
Florin....
£ florin...
25 cents. .
10 cents. .
25.0000
945
23. 6250
385.8000
364. 5810
SI. 0048
10.0000
945
9. 4500
154. 3200
145. 8324
.4019
5.0000
945
4. 7250
77.1600
72. 9162
.2097
3. 5750
640
2.2880
55. 1694
35. 3084
.1004
1.4000
640
.8960
21.6048
13. 8270
.0401
24950°— 14 - 12
i Trade coin.
178
REPORT OF THE DIRECTOR OF THE MINT,
MINOR COINS.
Denomination.
Weight.
Composition.
Weight.
Legal tender.
Value in United
j states money.
NICKEL.
f cents .
Grams.
4.5000
Grains.
69. 4440
BRONZE.
-so per cent ntcicei
and 75 per cent
copper.
To the amount of
1 florin.
80.0300
2i cents .
4.0000
2. 5000
1.2500
95 per cent cop¬
per, 4 per cent
tin, and 1 per
cent zinc.
i
61. 72S0
• 3S.5S00
19.2900
1 cent .
1 To the amount of
1 1 florin.
1
( .0100
{ .0040
Jcent .
l .0020
NETHERLANDS EAST INDIES.
SILVER.
Denomination.
Weight.
Fineness.
Fine
weight.
Weight, j Pure silver.
Value in United
States money.
} florin .
Grams.
3. im
1.2500
.0100
Thousandths.
720
720
720
Grams.
2.2896
.9000
.4392
Grains.
49.0737
19.2900
9.4135
Grains.
35.3331
13.8SSS
6,7777
$0.1004
.0401
.0200
florin .
A floriu .
MIXOfft COINS.
Denomination.
Weight.
Composition.
Weight.
Legal tender.
Value in United
States money.
NICKEL.
iwceuis .
Grams.
5. 0000
25 per cent nickel,
75 per cent cop¬
per.
Grains.
COPPER.
77.1600
To the amount of
1 florin.
*0.0300
2$ cents .
, 12. 5000
4. 8000
2. 3000
1
1 cent .
[Pure copper..
f 192.9000
iTo the amount of
| .0100
{ .0040
l .0020
J cent .
\ 74. 0736
J
l 35.4936
1 1 florin.
_ 1
and 6). Import, and export, „( gold and silver during the oalendar year 1912:
Classification.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin .
Bullion . .
Florins.
29,799,645
Florins.
7.592 478
Florins.
Florins.
Q 74H 013
ore . imii::::;:;:;;;;;;;::;; .
Total .
10,803,895
192,905
4, 250
12,000
i p wo, you
3, 107, 107
Jf, t TUj
1 750
- - - - 11
•10, 796, 445
7, 605, 728
4,544,073
9, 746, 763
OPERATIONS OF THE MINT SERVICE
179
. NORWAY. -
1. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
]
9 kroner . . . - . .
150,000
140,000
200,000
200,000
2,350,000
Kroner.
300,000
140,000
100,000
50,000
235,000
3,040,000
1 825,000
i Of which 104,500 kroner was from recoinage of domestic coins. No gold was coined.
2 (a and b), 3, 4, 5, and 9. None.
7. Approximate stock of gold and silver coin in the country on December 31, 1912:
Description.
In public
treasury.
In Norges
Bank.
In cir¬
culation.
*
Kroner .
Kroner.
/i 23,585,000
\ a 38,571,900
Kroner.
| 22,000,000
J 12,245,000
355,000
1 On deposit abroad.
8 Bank notes outstanding at the end of the year 1912, 99 276,200 kroner of which
37 il9,300 kroner were not covered by legal-tender gold and silver com or bullion.
10. Laws passed during 1912: Bank law of July 19, 1912.
*******
12 (a and b). Imports and exports of gold and silver during the calendar year 1912.
Country*
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bul¬
lion.
Coin.
Bullion.
Coin.
Bullion.
Denmark .
Sweden .
Germany .
Other countries .
Kroner.
2,000,193
"193,933
Kroner.
Kroner.
Kroner.
Kroner.
Kroner.
Kroner.
154,000
156,500
Kroner.
'"i7,445’
i, 500, 666
. 39,391
1.7,* 445
7,500
643,262
56,514
i39, 782
Total .
2, 194, 126
17,445
1,539,391
17,445
7,500
699,776
310,500
139,782
PORTUGAL.
I Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
New coinage: .
100,000
1,695,300
Escudos.
50-centavo pieces .
Total . - .
1,795.300
882,650
i For Portuguese India.
180
REPORT OF THE DIRECTOR OF THE MINT,
2 (a and b), 4, 5, 10, and 11. None.
* * * # * -* *
7. Approximate stock of gold and silver coin in the country on December 31, 1912:
Classification.
In circulation.
Gold coin..
Silver coin
Escudos.
7,960,002.00
31.75S, 013. 50
8. Bank notes outstanding at the end of the year 1912:
Bank of issue.
Notes out¬
standing.
Gold holdings.
Legal-tender
silver holdings.
Bank of Portugal .
Escudos.
84,593,259
Escudos.
7 Qf>0 OfP no
Escudos.
31,758,018.50
I f vu*-. W
9. Premium on gold during 1912: Highest premium, 13 per cent; lowest premium,
6.S per cent ; average premium, 10 per cent.
The actual currency of the country is bank notes, silver, and nickel.
12 (a) Imports and exports of gold and silver during 1912:
GOLD.
Classification.
Country.
Imports.
Exports.
Gold coin .
Portugal and adjacent islands. . .
Escudos.
1,705.50
263, 120.00
Escudos.
315,703.65
Gold bullion .
Portugal and adjacent islands, re is. . . .
SILVER.
Silver coin .
Portugal and adjacent islands
1.45S.77
616,344. 40
31S,53S.37
Silver bullion .
Portugal and adjacent islands, reis. .
Silver ore .
92,750.66
ROUMANIA.
1. Amount of silver coined in 1912:
Denomination.
Pieces.
Value.
Silver:
2-lei .
1-lei . .
1,500,000
3,540,00 0
1,800,000
Lei. _
3,000,000
3,540.000
900.000
50-ban i . .
Total .
6.840 000
7,440,000
Withdrawn from circulation:
2-lei .
V) vJiV| VVV
1,430,000
910,000
800,000
. . .a rwV)
. - .
Total .
2 ( b\ The above coinage was made, half at Brussels and half at Hamburg
Roumanian mint has not oeen working since 1SS4 1 ^
^ (fl)» 4, d, 6, 9, 10, and 11. None.
(The
OPERATIONS OF THE MINT SERVICE.
181
7. Coins in circulation in the country on December 31, 1912:
Classification.
Value. •
Gold pieces...
Silver pieces..
Nickel pieces.
Copper pieces
Lei .
10,725,800
70,311,065
10,500,000
995,000
8. The amount of bank notes in circulation at the end of 1912 was 425,180,740 lei.
The Government is not allowed to emit bank notes, only the national bank can do this.
12 (a) Imports and exports of gold and silver in 1912:
Classification.
Imports.
Exports.
Lei .
1 6,394,810.30
1599.00
Lei.
• 6,904,359.26
1 11,440.30
i Given by the ministry of finance in total amounts.
Legation of the United States of America
Bucharest, April 16, 1916.
The Secretary of State,
Washington, D. C. , _
Sir: I have the honor to report that the amendment to the coimgetewMthorm^
the coinage of an additional 8,000,000 francs of silver money tas now passed
manian Parliament and will probably be promulgate . ^ qqq f^ncs.
Prior to 1909 there was in circulation s. yer
By a law dated March 24 (old style) of1^]hat.y(f^t1m;naivaiUeof28, 290.000 francs
32,000,000 francs was authorized, while old coiM of the nomim val w ^ howeVer,
were to be withdrawn from circulation. Th®.P™I ntincr t0 only 23,513,000 francs,
been only partially carried out, the new coinag amou 0f gilder money in circu-
and the withdrawals to 12,832,000. H11,8, 9o ,...q 4qq jn 5-franc pieces, 17,059,710
lation at present 70,181,065 francs “ “‘Ses °490 in j-tad? pi«»- ?onse-
in 2-franc pieces, 20,364,465 in 1-fra P | e ^ b’e caiTi0d out, 15,448 000 francs
quently, if the provisions of the law °?1J ' ' , a 4g« 935 0f new silver would take its
Of old wins would be withdrawn, ^^bereduced by about seven million
place, and the amount now in circulation would oe reu
francs. . t thp fun amount authorized, and to refrain
The intention now is to coin new money to the tui^ wouid make the amount
for the present from the withdrawal of the old coins, w
in circulation —
is iJs jSg iSwSaV.ioo (old) or .
. .
. 23, 660, 400
. 25, 059, 710
. 27.651,400
. 10.296,490
. 86,668.000
T otal .
• about 12 francs per head
This will make the amount "flfougM'to ^absolutely necessary.
°f POPfh^'thne servant,
John B. Jackson.
182
.REPORT OF THE DIRECTOR OF THE MINT.
RUSSIA.
Ilows: the ^ 1912 n0 g°ld WaS C0ined in Russia- In 1912, silver was coined as
Denomination.
Pieces.
Value.
1 ruble (at 0.900) .
2,111,221
7,085,008
15, 000, 008
13.333,341
20, 000,008
3,000,009
Rubles.
2,111,221.00
3,542,504.00
3,000,001.00
2.000,001.20
2,000, 000.80
150,000.40
10 kopecs (at 0.500).. .
5 kopecs (at 0.500) . .
Total .
- . |
60, 529, 595
12.803,729.00
In 1912 the following amount of coin was withdrawn from circulation and recoined :
Silver, at 0.900..
Silver, at 0.500 .
Total .
Rubles.
. 239,606.10
. 4,274,444.00
2. (a and b ), 5, 9, 10 and 11. None.
4,514,050.10
^ *
aJo,Sted“'S4(KKlmbia,KRn™tnS1K V*16 ™ults °f tlle State tok
in foreign £m*’ .MK),000 being in Russian money and 138,400,000
rubles. ° y" At the ame date the amount of gold in circulation was 629,300,000
was 1,493,800,000
to the State bank,
must be guaranteed by 300,000,000 rubles foTgold, and
all notes issued must be secured by gold ruble fnr ™ X • (lUU’UU0’UU0 nelDi :
State bank was, on January 1, 1913, ' 45MOO,3 000 Vble^’ ** iSSUing P°Wer°f ^
SERVIA.
1, 2 (a and 6), 4, 10 and 11. None.
*****
5. United States gold coin imported during 1912: $500. None melted at mints.
7. Approximate stock of gold and silver coin in ,he * untry on December 31, 10X2:
Classification.
In public
treasuries.
Gold coin .
oni 091
.
^lOi t~/ '
la, ooo, ooo
No statistics as to amount in banks and in circulation
—
8. Government notes outstanding at the end of 1912:
1012.
Government llank...
Gold notes.
Silver notes.
Gold
holdings.
Legal-tender
silver
holdings.
$17, 016,385
*1,029,925
0)
(«)
P-; av
average, 101; 100 gold
OPERATIONS OF THE MINT SERVICE.
183
12 (a). Imports of gold and silver during 1912 (first six months):
Country.
Gold imports.
Silver
imports.
Coin.
Bullion.
Bullion.
$32, 932.00
463. 20
579.00
28.95
$135. 10
380.59
$41.68
Switzerland .
34,003. 15
515.69
41.68
report on coinage of small money in servia.
Consulate of the United
For some time past there has been a to
and others in Servia that the supply of sma l c®P? f fi ce has submitted to
demands of the public and in consequence the muust ^ 01 ^ law:
the Skouptchina, which body has approved the same, me
PROVIDING FOR THE COINAGE OF MONIES OF SILVER AND NICKEL.
Art. 1. The minister of finance is .^Teby^uthorized h>hav | coined a p
circulation five million (5,000,000) si ^ ^er ^oth, 1878, and February 26th. •
said coinage to be based on the , authorized to coin and placemen . »
Art. 2. The minister of finance is furt . (5,000,000) dinars, in silver, in p
when the circumstances so demand five
of two, one and 0.50 dinars, respectn >>.^ ^0 Rave coined and to p ‘ f tj ie
Art. 3. The minister of finance is ^odinars, in conformity witt l the
Won nickel coins to ^^^“denomiritions so corned shall bo to
^ttSidwm boar the da* ^ sha„ be paid Irom to net proto of
Art. 4. The expenses incident tQ ^ state’s extra bu =, Royai eignature.
tlie transaction and the balance force after the fixing o QN
Art. 5. This law shall enter into full (Signed) D^.Jatch^
SPAIN.
t <“ - !' " 51 ^ “d ^lin in to-nU^b^
Approximate stock ot go ‘ _ _ — —
- public 1 - — - Tn circulation.
treasuries.1
1 o
x •> &
Classiflcat ion.
Pesetas.
96,649,192
Pesetas-
543,783,244
737,527,680
Pesetas.
‘ ’170,666,666
d coin .
rer coin .
Total .
. . —c; . = “• - “
- " . th® servic® of
l,e Bunk of Spain i is * ^arged l ™ of g pain.
ury form part of those of the Ban 1912: _ _ _ .
. • crul cf tlic y -
Bank notes outstanding «■ _ _ _ — — - — -
- - - - - votes
Item.
Legal-tender
silver holdings*
: of Spain, notes
184
REPORT OF THE DIRECTOR OF THE MINT,
9. Premium on gold during 1912: Highest premium, 7.95 percent: lowest
5.40 per cent; average premium, 6.598 per cent
12 (a). Imports and exports of gold and silver during the calendar year 1912:
premium,
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Bullion.
Coin.
Coin.
Bullion.
Coin.
Bullion.
Aleutian Islands . . .
Pesetas.
Pesetas.
Pesetas.
93,752
58,000
6,400
120,000
44,100
250
1,827
0,000
1,155,800
11,410
Pesetas.
Pesetas .
Pesetas.
Argentina .
Brazil .
Cuba
Fernando Po .
Philippine Islands .
129,280
328, GOO
2G3,100
France .
Great Britain. . ..
1,130,400
88,040
725,270
12,990,770
Melilla .
Venezuela .
Canarv Islands
Germany ....
27,400
8,000
4,000
3, GOO
Algeria.! .
Portugal .
29G,4G5
Total .
1,130,400
217,920
1,498,199
725,270
034,700
13,287,235
SWEDEN.
1. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
2 kroner .
i krone . .
156,912
303,420
483,002
1,013,740
Krona.
313,824
303,420
241,531
253,435
25 ore . .
Total . . -
1,957,134
1,112,210
Domestic silver coins recoined amounted to 125,627 kroner,
to SlS^oner10 Il<?" ' °^na^e °f gold, but the recoinage of domestic gold coins amounted
2 (a and b), 4, 5, 9, and 10. None.
*******
3irmlfroXimate BtoCk °f g°ld and Bilver C°in and bullion in the country on December
Classification.
In public
treasuries.
In banks.
In circulation.
Gold coin .
Kroner.
Kroner.
Silver coin . .
87,905
301,400
209,725
0\J4 y KMO
43,692,375
4,975,102
91,757
L HKTIO\\ XI-
Do.
Do.
Do.
Total .
599,030
105,126,279
OPERATIONS OF THE MINT SERVICE,
1R5
8. Government notes outstanding at the end of the year 1912:
Item.
Notes
outstanding.
Gold.
holdings.
Legal-tender
silver
holdings.
Toon o/l hv (1 nvpmment . . . . . .
Kroner.
228,431,808
Kroner.
100,059,420
Kroner.
4,975,102
. Latest report of the mining business is inclosed
1 (a). Imports and exports of gold and silver during the calendar year
1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Bullion.
Coin.
Bullion.
Bullion.
N orway
Kroner.
1,500,000
Kilograms.
1.968
1.555
73.332
241.424
Kilograms.
Kronor.
156,500
22
100
481
170
5,323
1,435
700
50
.
Kilograms.
332. 790
2.000
48.500
13,690. 623
Kilograms.
944.000
29.000
Denmark .
Germany .
4,000,000
io.ouo
.
1,039.666
Netherlands .
Great Britain .
France .
Austria .
Hungary .
Fmlftn A
3, ire, 666
1.045
1.075
. .
1,722.000
.
.
. .
. 9. ’666
O AOI fUM)
Total .
8,678,000
320. 399
10.000
164,781 j 16,832.913
2,031. WU
SWITZERLAND.
1. Gold and silver coinage
for the calendar year 1912:
Denomination.
Gold
i (new coinage): . Swiss Confederation. .
(a) 2<>-franc pieces for account of th . National Bank.
(b) 20-franc pieces for account of thoSwnw Bank .
XO-franc pieces for account of the Swiss
Total .
Silver (new coinage):
2-franc pieces _
1-franc pieces -
Total .
Bilver (recoinage):
5-franc pieces -
50-ccntiine pieces.
Total .
2, 5, and 10. None. * * . * . from new bullion.
* * , , ^ nid material, only *
4. The Federal coin is not coined fr #
*
Number of
pieces.
Value.
50,000
400,000
200,000
Francs.
1,000,000
8,000,000
2,000,000
050,000
11,000,000
400,000
1,200,000
800,000
1,200,000
1,600,000
2,000,000
11,400
400,000
57,000
200,000
411,400
257,000
186
REPORT OF THE DIRECTOR OF THE MINT.
7. Stock of gold and silver in 1912.
can only indicate the amount in ttie co
31, 1912):
The data does not answer this question- we
ers of the Swiss National Bank on December
Classification.
In Swiss
National Bank.
Gold coin .
Gold bullion . .
—
Francs.
119,720,000.55
53,417,816.10
12,775,890.00
Sil\ er coin (5-franc nieces ) . . .
Total .
iok mo
AoOj yij| • 0o» Go
8. Bank notes outstanding at the end of the year 1912:
Bank of issue.
Notes out¬
standing.
Gold holdings.
Legal-tender
silver holdings.
Old banks of issue
Francs .
c to? Ann
Francs .
\
Francs .
Swiss N ational Bank . . .
Oy 15/ , 4(JU
094 rvrr> Qnn
|l73, 137, 816. 65
1 12, 775, 890
Total
004, k)OZ} olKJ
339,239,700
173, 137, 816. 65
» 12,775,890
1 5-franc pieces.
tional circumsUnce^0nfe^erat^0n ^as n° *reasury n<>tes in circulation; they are only issued under excep-
loLofZcT lowest^rem^m99o’Qn frae °f exchan2e UP°P Paris: Highest premium,
11 francS; averaSe premium, 100.191 francs.
ioV7„ i t arded uPon tlie administration of 1912
1- (a and 6). Imports and exports of gold and silver in 1912-
Gold.
Silver.
—
Country.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Germany
Austria-Hungary.
France..
Francs.
819, 455
461,050
8, 760, 120
289, 895
1,000
Francs.
3, 772, 860
7,787,570
27,975, 135
604,625
17,275
Francs.
4,387,903
112,526
Francs.
863, 710
Francs.
1,606,755
325,007
46,435,834
1,550,768
1,715
Francs.
3,208,862
612,850
3, 894, 430
123, 497
4,944
Francs.
1,218, 824
44,576
0, 855,871
1,451,229
2, 445
Francs.
269,303
Italy .
Belgium ....
Netherlands..
16, 644, 670
892,940
1,730
15,031
2,010,209
1,237
2, 420, 790
4S6, 437
virtkit Britain
Russia .
Servia .
Bulgaria. ...
1,260
1 000
21,604,115
.
.
865,200
3, 091
5,570
.
Roumania .
European Turkey
Egypt .
Greece .
73* 450
•-inn
.
797
.
.
..........
.
17, 275
459, '997’
.
.
.
Colombia .
. - - *
6,540,*3i5
9,411
.
. .
.
Ecuador, Peru, Bo¬
livia, Uruguay,
and Paraguay. . . .
1,050
100
Total .
10,409,530
68,319,170
24,536,451
3,285,550 ■
49,920,079
8,709,783 {
i, 581, 606
755,960
OPERATIONS OF THE MINT SERVICE.
187
Monetary Stock in Switzerland, 1911.
[From the French Mint Report for 1912.]
From the estimation made by a specialist and given with all reservations, the
monetary stock of the Helvetian Republic amounted to 220,000,000 francs in gold
coins and to 80,000,000 francs in silver coins.
The reserve of the national bank on December 31, 1911, was 160,666,436.71 francs in
gold and 9,188,3S0 francs in silver.
Banking System op Switzerland.1
^Before the Swiss National Bank was founded in 1906 any hank
capital of 500,000 francs ($96,500) had the privilege o ”, r‘u i ar repor’tsP These
it was either a State institution or a stock ^“P^K^eS* If their notes in circula-
banks were obliged to maintain a cash reserve t I guaranty, by securities,
tiou. The remaining 60 per cent icould be secured by ot , ,)or
or by commercial bills of exchange. The leae i Cantons were entitled to tax the
cent on the amount ot notes issued. The dinere basis,
note-issuing banks within their j urisdicUon up to ^ 1 uoteg A uumber of them were
In 1888 there were 34 banks in the country o ^ ttie amount of cash reserve
capitalized at or near the minimum stipulated > > ^g security for the remain¬
over and above the 40 per cent was in t guaranties. There was a lack of
ing 60 per cent, a liberal use was made of tl e of thege banks, and of con-
uniformity in discount rates, caused by the h uniform raising of the rates would
certed action on their part in critical periods when a ^or“™trie°s.
frequently have stopped the outflow of currency to other
SWISS NATIONAL BANK.
. a prai constitution was amended
To overcome the disadvantages of tins a national bank, but !t was
. in 1891, giving the Government authority functions went into effect.. T o
not until January, 1906, that the ^govern «0 ^ 000 francs ($9,650,^0) dmd^ed
present capital of the Swiss National has been paid in. Two- .
into 100,000 shares, of which amount 50per t lation> and <me-^hbythe
subscribed by the Cantons in proportion £ £ offered to the puhhc in reared
old note-issuing banks ; the remai.nngtwo-hhsve Swiss citizens
^A^Tbar* uotesby the gJ-J
rhe bank'must L equal to the toe yataeot the coins and Mb ^ <gtffiedness.
Of legal currency, of g°ldfbau’ dolQestic discountable c^ju0 Of the notes in circu-
domestic or foreign, and of other cent Gf the lace 'al.j i neudent signatures.
The metal reserve must amount to I y.oar ]css than two in 1 .,nrreucv in ex-
lation, and the bills discounted ntlls up0n demand, P1'™5*/ Vq years. Renewals
The bank is obliged to redeem ito is given for a term of 20 ye am ouly.
change therefor. The note-issuing P tferaiqaw and f or J , : .abilities of the National
of this privilege must be granted by ^ertho^tsanJtob ditieso^.g
The Government resen’es the right ^ privilege, by g\ » ceat during the
Bank in place of a renewal ot th® at par and interest *j£|^ernme.it to bo
In this case the shares will be rodtem a i thir(i will go t( 1 } k population
period of liquidation. Of the reserve fund, on according to 1
Handed over to the new bank, one-thir _ _ — —
and one-third to the old shareholders. _ _ 7 ~
- - - - - I nri Trade Rei>orts> vu8‘
1 From Daily Consular aud Irau
188
REPORT OF THE DIRECTOR OF THE MINT.
OTHER FUNCTIONS — DISPOSITION OF EARNINGS.
Other functions of the Swiss National Bank permitted by the law of January 16,
1906, as amended September 27, 1911, are: Discounting checks and drafts payable
in Switzerland, running not longer than 90 days and bearing at least 2 independent
signatures; purchase and sale of checks and of drafts (running not longer than 90 days
and having at least 2 independent signatures) on foreign countries having a metal
currency, and of treasury bills of such countries; granting loans for not longer than
three months against deposits of securities and other certificate of indebtedness
(excluding, however, shares of any kind); acceptance of deposits from the Gov¬
ernment or private parties, in the latter case without interest; collection of drafts;
purchase of interest-bearing debentures of the Government or of the Cantons, for the
temporary investment of its funds; purchase and sale of precious metals, coined
and in bars, for its own account and for account of others; issue of gold and silver
certificates; custodianship (free of charge if they belong to the Government) of securi¬
ties and other valuables; purchase, subscription, and sale of securities for account
of others; acceptance of subscriptions of others on Federal and Cantonal loans, without
becoming a participant itself in such loans. The bank is obliged to publish at regular
intervals its discount and interest rates, to issue weekly statements showing its con¬
dition, and to publish annual reports.
The net income of the bank is distributed in the following manner: Ten per cent
(but not more than 500.000 francs in any one year) is added to the reserve fund; of
the remainder, the shareholders receive a dividend not exceeding 4 per cent; from
the balance the Cantons are entitled to a certain amount to reimburse them for the loss
of the privilege of issuing bank notes. This is based upon their authorized note
issue on December 31, 1904, and upon their population according to the last census.
(If the net profits are not sufficient to provide for this reimbursement in full, the
Federal treasury must advance the necessary amount, charging interest at per
cent per annum, these advances to be returned as soon as possible.) Of the balance
still remaining after reimbursement to the Cantons and after payment of such advances
as may have been made by the. Treasury, one-third goes to the Government and two-
thirds to the ( antons in proportion to their population according to the last census.
SUPERVISION AND ADMINISTRATION.
The general supervision and administration of the Swiss National Bank is in the
hands ot a boarcl called the ‘‘bankrath,” consisting of 40 members elected for a term of
4 years. The first members of the board are the president and vice president,
who are elect, pn nv thA PWl^ral Pmm r>-ii _ •_ ^ _ ^ -» r _
are
by the * v«v.».,.Uuuvu. y1 V11C uumu«r, not, more man nve may De morauera uj
of congress and not more than a like number members of the Cantonal Governments.
Members are eligible for rejection. Seven members of this board, including its
president and vice president act as its delegates in the administration of the bank.
nL be ^Presented by more than one member in this administrative
Sf t The 8UP°rvif of the branch offices lies with local committees consisting
tL v n^r/?r r+epreseifltfUve mercbants of the respective localities, appointed by
the board for a term ot four years. The executive branch of the National Bank
th+n6 <^°.cto^s> aPP01utefi for six years by the bank council subject to
dkeCtor a“d °ne subdirec,or “e <*"
KfSES#4 71 » SSr uaf? Jr «
American ci^renbv wMk Slo1 Dec?“ber 31, 1911, amounted to $60,747,889,
drafts to the amount of $m 281 789 V* 68,35 per cent- Dome^C
drafts purchased. The ^minnCivSi. ^re daunted, and $70,399,876 of foreign
$25, lTl! 708. and of foreffdSfto $4 *Si°;ibandwas $10,719,830, of domestic drafts
597, and its net profits to $497,016 ' ’ Its clearings amounted to $3,373, b44.
influence upon the finances of the country.
OPERATIONS OF THE MINT SERVICE.
189
The beneficial influence of the Natiohal Bank in this respect is best illustrated by the
fact that whereas from 1903 to 1906 the average discount rate of Switzerland exceeded
that of France, England, Germany, Belgium, Holland, and Austria by 0.48 per cent,
for the period 1908-1911 it was lower by 0. 35 per cent. It has been estimated that this
alone resulted in a saving to the country of $2,721,300 for the four years.
The careful scrutiny to which drafts offered to the National Bank are subjected
bv it has exercised a most salutary influence on their character. Its powerful in¬
fluence upon other Swiss banks has resulted in a decided improvement in their
character and current assets. Last autumn, during a critical period in the banking
business the National Bank purchased foreign drafts to an amount almost equaling
its entire reserve, which not only avoided an anticipated advance in the discount
rate but saved the Swiss money market from serious disturbance.
The statistical matter contained in the foregomg report was obtained from one ol the
leading banking institutions in Zurich.
TURKEY.
1. Gold and silver coinage (Mar. 14, 1912, to Mar. 13, 1913), Turkish year 1328;
GOLD.
Denomination.
Pieces.
Value.
5 pounds . . .
2J pounds. . * ' ' ‘ .
46,354
24,167
3,671,984
147,652
Pounds.
251,770.00
60,417.50
3,671,984.00
73,826.00
i pound . . . .
J pound . . . .
346,0:54
19,882
8o, oOo. ou
2,485.25
i pound .
4,256,073
.
14,126,991.25
■ O, TurkM, pounds ^^SSSSSlSS^l ^SSttSSOSSS
—
D eno mination. _ _
Pioces.
Value.
.
. . . .
. . .
2 piasters . .
Total . . .
96,003
1,635,206
4,031,430
Piasters.
960,030
8, 176,030
4,031,430
5,762,639
.
i 17,198,920
159,249
• Of which amount 10,497,923 1^^
urkish pounds) was was recoinage from foreig
1,089 piasters-- 371 Turkish pounds)
2 (a and b), 9, and 10. None. Not known.
3, 4, and 5. Information not obtainable.
*
TE TLotesoutstanding ^ The latest pub-
which are entirely covered by 8 th e operations Turkish language, co\ere
11. There is no published report on g^wbi‘cU was in the 1 urki
lidied report of the departmen . mg authorities state that t
the year 1325 (March, The ports are slow “
12 (a and 6). Information not ava ret urua- ot tne 19 10-March , l.»in
information can not be for the year 1326(ftiarc_, - -
coming in . The latest available rep< ___ - ___ - - bc os( imaIoJ llt so, 000,000 Turkish
— ■ . • — - - ’ MhoOttouian Kmpir0 111 -
1 Monetary stock. — The monetary
poun. 1 4 for gold and 6,500,000 pounds for sm
190
REPORT OF THE DIRECTOR OF THE MINT.
ASIA.
ARABIA.
Aden.
1 and 2 (a and b). No mint in Aden. Aden is under British government and tho
mint is m Bombay. ’ e
3, 4, 5, 6, 10 and 11. None.
7 and 8. Unknown.
9. There is no premium on gold. The actual currency of the country are the runee
and sovereign (rupees 15 to the pound sterling) . 1
12 (a). Imports and exports of gold and silver during the calendar year 1912:
Country.
c
rold bullion.
Silver bullion.
Impc
>rts. Exports.
Imports.
Exports.
Hodeidah .
Jeddah .
Egypt . ;;;;;;
Djibanti .
Perim . . .
Bombay .
Turkey in Europe .
Arabian Gulf ports . . ’ ’
Turkey in Asia .
Austria . . .
Mokha .
Somaliland .
Suakin and Port Sudan .
. Z94S
. 268
. 97
. 50
. 41
,035 .
8903,573
1,407 .
,320 .
,157 .
,771 $7,542
.... 1,744,439
11,208
7,783
14,889
18,247
8461,320
32,709
45,485
210,231
53, 922
251,838
1,802,577
71,098
38,172
. 33,427
. 77,570
303,848
67,345
33,367
Zanzibar . !!!!!!! .
Ghizan . !!!!!!!!!!!!!
Total
. . . .
*••• . .
.
690 2,427,089
1,804,108 j
1,959,393
Muskat.
1, 2 (a and b), 4, 5, 6, 8, 9, 10, and 11. None.
7. Approximate stock of gold and eilver'in the eount'ry on December 31, 1912*
Description.
Gold coin .
Silver coin.. .
Silver bullion’..'!!! .
Total .
In circu¬
lation.
$10,000
500,000
10,000
In the Sultanate of Oman there is no mint j ,
coinage principally used is the Austrian Mm’!*' ^uGre ar® no hanks or mines. The
and Indian rupees are also used. No statistic*^ Theresa dollar. British sovereigns
given are merely estimates. The estimatl nf ?£any 8ort are available and figures
the country were made by local merchant? a,TiUnt of coin and bullion in
the matter mercbants who should have the best knowledge of
(« and b). Imports and exports of silver during the year 1912:
_ SILVER.
OPERATIONS OF THE MINT SERVICE.
191
No figures are obtainable for gold. There are no statistics, not even of imports and
exports, collected in this country, and there is no mint, so it is impossible to give figures
that are in any way reliable.
BRITISH INDIA.
1. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
Whole rupees .
124,339,222
5,288, 755
9,603,442
18,605,781
Rupees.
124,339,222.00
2,644,377. 10
2,400,860.20
2,325,722.50
Half rupees .
Quarter rupees .
Eighth rupees .
Total .
157,837,200
i 131,710,181.80
1 Of the above total value, 104,207,983 rupees was new coinage, 25.687,923 rupees was recoinage of foreign
coins, and 1,814,277 recoinage of domestic coins; total, Rs. 27,502,200.
Note— The face value of coins received into the mints for recoinage during the year 1912 was Rs.
29,108,000. The face value of coins actually melted during the year was Rs. 27,109,883, but this does not
represent the silver operated upon to produce coins worth Rs. 27,502,200.
No gold was coined.
2 (a). Coinage executed for other Governments:
Classification.
Silver.
British dollars for prohaTiPfl banks . . . . .
Tale .
14,274,810
67,708
479,870
Subsidiary coins for the Government of the Straits Settlements:
10-cent nieces . . . . . .
Total .
14,822,388
3. It is regretted that no information is at present available concerning the amount
of gold and silver used in the industrial arts. _
4. No gold coins are coined at the Indian mints. The Indian mints do not receive
old bullion from the public for coinage.
* * *****
8. Government and bank notes outstanding at the end of the year 1912.
Items.
Notes out¬
standing.
Gold
holdings.
Legal-
tender
silver
holdings
(coin and
bullion).
Rupees.
657,015,865
Rupees.
376,439, 168
Rupees .
140,576,731
Total .
657,015, 845
376, 439, 168
140,576,731
1 No bank in India has a note issue. The only notes in circulation atfr t1hQ01? nnt
The amount of Government notes outstanding at the end of the jear 1912 not co^red by gold,
silvf
coin, and bullion was Rs. 139,999,946.
9. Throughout the year 1912 gold was for the purposes of foreign exchange at a dis-
count. The par is 16d. =Rs. 1=7.53544 grains of fine gold. Highest discount, grains
of fine gold 0.064 (corresponding to Rs. 1=16. 135d.); lowest discount, grains of fine
gold 0.015 (corresponding to Rs. l=16.031d.); average discount, grains of fine gold
0*033 (corresponding to Its. l=16.070d.). . .
10. No laws regarding coinage, currency, or banking were enacted during the year.
192 REPORT OF THE DIRECTOR OF THE MINT.
12 hi). Imports and exports of gold during the calendar year 1912:
Imports. Exports.
Country.
Gold coin.
Gold bullion.
Gold coin.
Gold bul¬
lion.
United Kingdom:
Private .
Kuptt*.
67,017,566
Knpttf.
li5.05y.NM>
Rupees.
1,200
2$, 943. $19
33,97s«-l
Government . ./.. . . . . .
Malta and Goto .
24$, $50
4,94$, 2S3
130,750
1,125,007
11,566,415
424,755
1,3S5, 750
12s $64, 025
9,142,655
151,635
Aden and dependencies .
1,950
90,000
1.44$, 307
169,576
51, $10
Bahrein Islands .
1.292
5,599
33,319
2,010
Orion .
Straits Settlements .
545,1^
1,513,343
Hcsukonr .
Natal .
Australia. .
13,911, $67
France .
Austria-Hunrarv .
Siam .
69)
Turkey;
European .
96, TOO
5,752,635
29,507
17,305
64,005
Asiatic . .v . . .
726,54$
255,526
Muscat Territory and Trueial Oman .
Arabian ports other t han Muscat .
Persia:
Private .
n,»
75.1XU
Government .
Java .
12,200
636,505
Osina * exclusive of Hongkong and Macao .
295,910
43.500
S.W7
m
Inao-Cfatna ^including Cochin China.Cambodia. and
Annam> .
Jar an .
90
1», 100,037
<*Xt
6.167
Egypt .
Portuguese East Africa .
6,539
Abvssinia. .
Mauritius and dependencies .
Total:
Private .
45
H
337, 711, 7M
139,333,672
2. $57, 762
29, 01$. $19
Government .
12 (I). Imports and exports of silver during the calendar year 1912:
Countrv.
Imparts.
Sil^
coin.
United Kingdom:
Private .
Government .
Aden and dependence*
Private .
Government .
Bahrein Islands.. .
Qnftn. .
Sunil? Settlements .
Hooctoog:
Private . .
_ Government .
Federated M^Uy States
Natal . .
Mauritius and
Rupees.
45.732
7.5Ct?,0»
22.524
7.*)7
942.766
32,095
27.425
144.570
4,500,000
(inctad^ .
Eamibar and Pemba. . . .
Ktst African . .
»«««.»- jPreSwortse':.: J|
Austrim. . . .
Franc* . . . .
ioay . . .
Aostn^Ha^irr. . . . . ....
Forman _
Asiisie— . - . . . .
Private .
Governmeru %[* . . — . .
29$
1,17X277
Silver
bullion.
Rupee*.
52.S5S.225
1, 142
350
1.39<\407
Exports.
Silver
coin.
Fapcrs.
3W
Silver
bullion-
46.0^
24. 000
X 975, 513
3.570,030
4.050
13X000
2,502
. : S.SWXTS^
5
3
MW
XM2,6S2
.
«,*e
43.000
. is
X.Z*
3
1,600
1.733,000 .
■ . ■>"" -
240 . ;;
. . . . — . [
S»4HtV
3.414
OPERATIONS OF THE MINT SERVICE.
193
Country.
Imports.
Exports.
Silver
coin.
Silver
bullion.
Silver
coin.
Silver
bullion.
Muscat Territory and Trueial Oman:
Private .
Rupees.
694,671
74,847
4,535
811,040
300,000
203,756
Rupees .
Rupees.
2,923, 460
Rupees.
27,412
Arahinn rifirtg njhpr than MllSOfit
,
Persia:
Privflto _ _
■ 1,060,300
l 56,820
r
finvprnmppt
To vo .....
525,000
i, isi
6,200
China (exclusive of Hongkong and Macao):
Privpfp .
2,538,911
18,082,849
" 2,247,5i9
Government . . .
2,278,016
4,964
2,950 , .
Egypt . . . .
United States of America .
Total:
Private .
4,260,081
14,669,800
96,300,753
70,441,074
43, 456,244
84,234
82,305
146,832
Indian Monetary Statistics for 1911-12.
Classification.
Weight
(grains, troy).
Fineness.
I^gal tender.
Silver:
180.000
90.000
45.000
22.500
200.000
100.000
50.000
33.333
60.000
75.000
37.500
25.000
Thousandths.
916?
916?
916?
[to any amount.
J
916?
For fractions of a
’ rupee.
Bronze:
Pice (quarter anna) . .
Half pice (eighth anna) . ...
.
,, cute 1S40, as also the com^ 0f withdrawal from
-r-- - S on them th rr0res of rupees, are in . tjie denominations,
62,of the aggregate value of 107. W cron. m of 190b) un * nickel and
■culation. Under the Indian co ” ^ave not been affecte > ■ ^ to 8Upersede
’ue, and fineness of the silver co 1906j reepectively, are
•nze coinages, introduced in 1907 mohur and its
mtually the old copper coin.aS® d -n jn(jia since 18917®?’ ® Sovereigns and half
lo gold coins have been mmte , from circulatio • j aj fender to an
•multiples have practically d i PI Australia are recogn ^ that they have not
ereigns minted either m Engls ej„n to 15 rupees, Pr iowest current weight,
limited amount at the rate of limit prescribed as sovereign, the full
m called in or lost weight beyond the linn^v f the bait
122.5 grains for the sovereig ..0723 grains, respectn . • *
al weight being 723.27447 and 61.63723 jr . • „ ^ , d
24950°— 14 - 13
194
REPORT OF THE DIRECTOR OF THE MINT.
The British dollar is 416 grains troy in weight and of 900 millesimal fineness and the
Straits dollar is of the same weight and finness. The 50-cent piece weighs 209 4
grains and is of 800 millesimal fineness, and the 20-cent, 10-cent, and 5-cent niereR
weigh 83.81, 41.90, and 20.95 grains, respectively, and are of 600 millesimal finene«
w!th the expiry in December, 1903, of the special agreement with the banks for the
rol^e of British dollars, the number coined fell to 3,955,647 in 1903-04 and 648 847
on • le the C01?aSf m these two years of Straits dollars was 15.009,891 and
20,364,664 pieces, respectively. No dollars were coined in 1905-06 or in 1906-07 but
the coinage was resumed in 1907-08, and last year 37,470,509 British dollars ’were
a nd t hatd n ^905^06^^ mint' Flfty-cent pieces have so far been coined only once
ESTIMATE OF THE QUANTITY OF GOLD ANNUALLY EMPLOYED IN INDUSTRY.
make/n estimate, except that it may be said that
pnld ?i dT ^F°rte<^ 18 manufactured into plate and ornaments. All the
gold produced in the Indian mines is exported to London for assay.
ESTIMATE OF THE QUANTITY OF SILVER ANNUALLY EMPLOYED IN INDUSTRY.
intVlndk-no^h'eJ n mints in June, 1893, practically all the silver imported
w, aiw ij. b?,,nS Produced in the country (the quantity of silver extracted
3-;r V 1" “Jim
those of the native state. e,.ther in the mints of the Government or in
to be hoarded or converted intn^ °f C0ln^2s Withdrawn annually from circulation
of sUverXrine the ierind bu) tbere are no da*a except the imports
frame an estimate of the quantity aclualTyS ^thdra^i'^The'imn ’ 'Tt S t0
was materially influenced for a period hv u ‘ • • lmPort trade m silver
transitory conditions which folio u-od thA^.i8peCU arL81nS out of the special and
famines of 1896-97 and 1899 loon vlosure of the mints, and again by the two
were no dUnrbi™ MueS Xtin.^'E.'r 6 ‘T Xear8' i9?1"02 '» M0«>5, there
for the dollar coinage were balanced”hv ^hi1<m8 bjI tb* Public, for the large imports
average annual vSK durirj Thfa period ef IK?! ,he f»toad. dollare, and the
£4,600,000, was probably faiHv *• ?et ?mPorts, which amounted to
poses, as silver for the runee^coinawf °* 13 re9uhed for industrial pur-
1905-06 there was no coinage of dollar* dl7ect by the Government. In
value of £24,384 were exported In fh^f -beir P ac® ordy 50-cent pieces of the
either dollars or 50-cent pieces and d^Uo^ fTu^ y,ear also there was no coinage of
In 1907-08 about 2,M0 000 Revalue of £-581 only were exported,
amount exported was valued at £190 33«e ■Bombay mint, of which the
and the number exported was 6 81 ?’ 5?S‘ number coined was 6,870,741
coined was 5,954,218 and The numlSr £60^048- In 1909-10 the number
Ten-cent and 5-c<W p?ec*s S-948, 284 valued at £517,204.
the Bombay mint during that year and thfw P1* a^° colned for the first time in
to £122,704. In 1916-11 the number of fif,iia ueo^tbjexPorts°f these coins amounted
exported was 5.147,628, valu^Tat /is ni T* 5’f52’910 a*d the number
o-cent p^cys coined in 1910-11 amounted to £1^0 qo]a U®, °1 20~cfnt> 10-cent, and
?l * coins to £125,345. In 1911-12 the nifmK- 90#’/ nd of the exports
the highest on record, and the number“exr>nr^b ol d?llare coined was 37,470,509,
There was no coinage of 20-cent pieces in lSllJaT,,?6^42’4!8, valued at £3,333,448.
piecee loomed m the year amounted to £3 851 and7i.butitbe \aue °f 10-cent and 5-cent
including 20-cent pieces, to £5 485? The Z 'he value°f the exports of these coins,
on private account during these last bcvpo ra^e annual value of the net imports
8mce the rupee became a token coin thevahfp ^ a“2uJQted to nearly £5,500.000.
nommal value, the practice of melSt t of which as bullion is less than its
and plate has become unprofitable hni the n*bees -°-r tbe manufacture of ornaments
Of Oliver i. Mill largely a mSfefof ronjtSro P081"°n °f 'ho ^cat h°arf»
imports and exports of gold.
Fp to 1906 ~ - UK,a OF gold.
sovereigns, exLp^thSTnTgoO^igo? ^2?rtS °£ 2<f,i?ed ?old consisted principally <
eflier^roins exp^rterl'Migi^iy^J^^jp^
OPERATIONS OF THE MINT SERVICE.
195
the measures taken by the Government to gddrerenJe
and £1,100,000 was also remitted in sovereigns for investment on behalf of the eold
standard reserve fund. The exports of gold by Government in 1905-0 amounted to
£6,000,000 and included the large additions to the gold standard reserve fund result*
ing from the heavy coinage of silver. I n the following two years there was no export of
gold on Government account, but in 1908-9 and 1909-10, £240,400 and £2,000, respec¬
tively, were exported. In 1910-11 again, there was no export of gold on Government
account, but £5,000 was exported in 1911-12.
IMPORTS AND EXPORTS OF SILVER.
The exports of silver consist chiefly of the Government of India rupees, which circu¬
late extensively in Ceylon, Mauritius. Arabia. Zanzibar, the East African coast, the
Bahrein Islands, and the ports of the Persian Gulf.
The principal imports of silver are from the United Kingdom and, to a much smaller
extent, from Australia and China. During the two years 1903-4 and 1904-5, how¬
ever, imports from the Straits Settlements for the dollar coinage were four times the
value of the imports from Australia. From 1907-8 again, the imports from Australia
have exceeded those from the Straits.
ESTIMATED STOCK OF GOLD COIN AND BULLION NOW IN THE COUNTRY.
It is impossible to make any estimate, since statistics of imports and exports pre¬
vious to 1835-36 are incomplete. That the stock must have been large is certain, tor
the hoarding of the precious metals has always been a striking characteristic o i
people of India. The registration of the imports by quantities began in 1887-88, ana
from that year to 1911-12 the net imports have been 30,271,466 ounces. g
The rupee value of the net imports since 1835-36, converted at the average rate^of
exchange in each year, is calculated to be £253,184,918. The qu y ^ mjncg
•n India is, however, greater than this by the amount produce , above has
for, although this is all exported, the value of the net imports, as si to ted ab ^
been calculated by deducting from the imports of foreig ,|85 • 9 ggg* 370 ounces,
foreign and Indian gold. The quantity P^uced mnce l885^s thb , itig
valued at £36,817,514. There is no record of the production for earner >
a negligible quantity.
ESTIMATED STOCK OF SILVER COIN (NATIONAL AND FOREIGN^ AND BILL
THE COUNTRY. h ' of the GoV-
No foreign coin circulates in British India. The c coinage of 1900-1901,
ernment of India (rupees) is estimated to have been J coinage of the last 12 years
b<?jWeen eighty and ninety millions sterling in \ a > -n„ the fame period there
^dded to the circulation a value of £87,510,000, from the circulation of abou
I"roS“ooeXPOrl8 n,»~ rcPre8entiDg " ratrv except the stocks
There is practically no stock of silver bumon tn the co^ (wMch are
sale in the hands of importers and ^^the closure of the mints in June,
?so£ably 8maH) as may be buried in hoards. , ^ the mints, and sine .j
1893, most of the bullion imported was passed ‘Slctured into ornaments, a sruaU
etal imported is largely and without delay . 0 g^tes. Since 3 s * ^ several
R oporUon being passed into the mints of. the the native ruP( , , e noW
ritish India mints were closed to free coinag, pritish rupees, w 1 , bullion
States have been converted in the British mints in to^r^^^, the coinage of bumo^
: adopted as the currency of those States, . to very small dim - ^qq
KrS16 m-lnta of the native States has been reduced to coinage rose to
to large operationsinHydembad, t as in fi^ire fell to
tilquakntlty of silver used being eight times .as grea^ t®58,235,
the average quantity of the preced g Hyderabad ah,n® n .^e in all other
Wldri?^2, butin 1906 the value of the coinag Thy vaiue of .the ^yderabftd was
Slat 1 18 more than double the value in 19 * jue 0f the C0ln8;c'f ,ue entire coinage
£% o^mounted to £12,799 only. In ■ ^ 190S the value of £56,719,
fn2' 3,014 and that in the other States £13 .90 h W*. in l909 ^ had arisen
fap: e native States amounted to only £1’ ^ ggure stood ft* the tim* con-
talllng again to only £6,937 in 1910. In 191 • the K ^ th? market value at the tm
Vwted^t yj’here va,ues have been st.ated 'onp^rupW” 16 annas" rl<>a
a at the rate of 15 rupees to £1 sterling. One rope
196
REPORT OF THE DIRECTOR OF THE MINT.
CURRENCY AND GOLD STANDARD RESERVES.
Rupee reserves are held partly in the currency reserves, partly in the gold standard
reserve. In December, 1912, the amounts were approximately as follows:
Currency reserve 1 . £10, 000, 000
G old standard reserve . 3, 750, 000
Total . 13,750,000
Sterling reserves are held partly in the currency reserve, partly in the gold standard
reserve, and partly in the London cash balances. The forms in which they are held
are gold (in the currency reserve, both in India and London, and to a small extent
in the gold standard reserve), money lent at short notice (in the gold standard reserve
and in the cash balances), and sterling securities (in the currency reserve and in the
gold standard reserve). In December, 1912, the amounts were approximately as
follows:
Gold:
Currency reserve in India . £17,500,000
Currency reserve in London . . . 7, 250, 000
G old standard reserve in London . . . 250, 000
Total . 25,000,000
Money at short notice:
Gold standard reserve in London . 1 , 000, 000
Cash balances in London . 7, 500, 000
Total . 8,500,000
Sterling securit ies:
Currency reserve . 2, 500, 000
Gold standard reserve . 16, 000, 000
Total . 18,500,000
Aggregat e sterling resources :
Gold . 25,000,000
Monev at short notice . 8, 500, 000
Securities . . 18, 500, 000
Total
52,000,000
TOTAL ABSORPTION OF CURRENCY.
[From Report on the Operations of the Currency Department, etc., of India for the year 1912-13.]
*******
Tender of imported sovereigns at the currency office.— According to the table “Balance
of foreign trade, etc., the net imports of sovereigns on private account in the year
under report amounted to 26.43 crores. Of this amount about 25 15 crores net were
tendered into the currency offices in exchange for notes or transfers, and about 1.28
crores absorbed direct without passing through the Government treasuries or currency
offices. From 2o.l5 crores received by Government about 3.58 crores were remitted
to England as already explained in paragraph 8 (light weight), and of the amount so
remitted 2 40 crores wexe again taken into the currency chest in the Bank of England.
Thus (-1.57 +~. 40) 23.97 crores were taken as an effective addition to the currency
circulation in India.
Goid of the value of about 1.28 lacs not tendered to Government is believed to be
either shield sovereigns or yellow sovereigns marked on the reverse with a large “Aus¬
tralia ” for which a premium is offered in the bazar. Doubts have been expressed
whether such large amounts of shield sovereigns are really procurable The subject
is not of much practical importance, because even if the ma[or portion of thl imports
not tendered to Government does not represent shield sovermgns espetdfllV used
for jewelry there is nothing improbable in tfie assumption that a^rtion 5 the Snports
in current weight sovereigns were directlv y^*oc*a , portion oi me iui>
currency or as ornaments. The subject of the i1?^8 *or Hse
weight coins has however boon ■ n tJle Proportion of shield sovereigns m light-
1^^ no doutt that the
have found their way into the mints Ti?P»h!eW sovereigns, for many such
ereigns packed for remittance tr» Pn a a * ^ e^ruary, 1912, a lac of light-weight scy\ -
and 839 shield and 112 yellow-colored1^ ?pecially s.broffed in the Bombay Mint
eignment. Between March and June lQtf^ou ^'T^ig ns were found in the con-
-Z _ _ ana June, 1912, 20,851 shield sovereigns found in a stock
Including silver bullion in India or in transit.
OPERATIONS OF THE MINT SERVICE.
197
of light-weight sovereigns of about £1,600,000 were actually separated at the Bombay
Mint. These two examinations show a percentage of nearly 1.3. The shields are in
such request in the bazar that the exchange banks are prepared to pay Government
par value for light-weight coin and also the expenses of shroffing. I am also informed
by a well-known bullion merchant in Bombay that Bombay imported £80,000 in
shield sovereigns in the year 1912—13. This, I understand, was a special consignment
apart from amounts found in large remittances for tender at the currency offices. On
the whole, it is not unlikely that shield sovereigns formed a substantial proportion of
those not tendered to Government.
The net addition to currency being worked out as above at 24.52 crores, it now
remains to distribute this total circulation under the different denominations of cur¬
rency. This is done in the following table:
[Amounts expressed in lacs of rupees.]
Items.
1909-10
1910-11
1911-12
1912-13
Total.
(1) Silver:
New rupee coinage (excluding coinage for the
12,27
- 1,05
12,27
+ 14,67
+ 12,98
Increase (— ) or decrease (+) in the currency re-
serve of rupees and bullion .
Transfer from or to the gold standard reserve .
+ 1, 84
+ 12,08
+ 3,22
+ 90
+10,66
Total silver .
4-13,92
+ 4,12
+10,66
+ 11,22
+39,92
(2) Gold:
Net imports of sovereigns (through currency) .
Increase ( — ) or decrease ( + ) in currency reserve
of sovereigns in India .
+10,67
- 9,26
+ 10,88
+ 2
+25,42
-14,05
+21,57
- 6,04
+68,54
-29,33
Total pnld .
+ 1,41
+ 8,92”
- 3,09
4-10,90
4-11,37
+ 15,53
+39,21
(3) Increase in the circulation of currency notes .
(4) Increase (— ) or decrease (+) in treasury balance. . .
58~
- 1,91
+~ 6,37
+ 1,91
+ 7,61
- 9,84
+23,48
-12,93
+21,16
+ 13,69
+30,31
+24,52
4~ 89, 68
Distributing the increase or decrease in treasury balances^^^? ,g workej out
denominations of currency the total absorption ot
aa follows: _ _ ,„,n*pS.i
Items.
Gold .
8ilver (rupees and half rupees) .
currency notes .
Uank and other balances .
Total .
1909-10
1910-11
1911-12
1,16
13,22
7,28
-50
10,78
3,34
-83
40
11,40
11,54
7,56
— 19
21,16
KM#”
30,31
1912-13
15,37
10,49
6
-1,40
24,52
These figures show that there was a steady 1911-12 in spite of the abnormal
country. The issues of rupees were less than tin
demands for jute. ornH
general conclusio . ade of the sovereign m
It is now possible to indicate general! y 1 1 ‘ e^‘a je more easy JYheoretical reasoning.
India at the present moment, and the arrived at b jnt0 any transac-
evidenee ia in accord with the conclusion wh0 never _ t^e sovereign will
In the first place there is a large mass of p P 15. To that sovereign vane
tion involving a receipt or expenditure ^ the use mad put the follcS'"”
never penetrate. As regards the other c j^ ’already m(1}in(, community. Jh y
considerably in various provinces, as has been ^ the trading though they might
general conclusions seem to be permi . * overeign. an . thev would P1"0! :j
are well aware of the intrinsic value of the sm transactions, tn y ^nth*-
ft be able to get rid of one readily m loca One can no
accept a sovereign if offered in the course of
198
REPORT OF THE DIRECTOR OF THE MINT.
In every town of importance in India, except in a few outlying districts, the sovereign
can be used in retail transactions. ‘ °
Then there are the comparatively well-to-do people. The sovereign is entering
more and more into their ceremonial life, as, e. g., for presents at marriage ceremonies0
They are finding that the sovereign is a very convenient and portable form of value
Hence its use on journeys and pilgrimages and for remittance purposes is increasing
Its use in retail transactions has already been discussed. These people know that
Government accepts the sovereign readily, so small payments to Government are
often made in this medium. There can be no doubt that sovereigns pass into hoards
to some extent. > Local custom as regards their use for ornaments seems to vary con¬
siderably in various parts of India. As was to be expected, Government servants
pensioners, and other payees have taken the lead in the acceptance of sovereigns ’
Finally, we come to the most important portion of the Indian population, the a<ri-
cultural community. The variations from province to province of the absorption of
gold are due very largely to the use of the sovereign by this community. Every large
expansion of such absorption has been due to an increased use of gold in the purchase
of crops, and has thus been the direct outcome of the initiative of the wholesale pur-
t laser. It is to the latter, more than to any other, class that the extended use of gold
ra due. And so far experience has shown that an attempt to use gold in such pur-
c iahes, if persevered with, has always succeeded. There is even a strong volume of
“ par<^, °,f the Pu?jab th» sovereign is preferred to the rupee, and a
L li iaber , ermf> 8°ld has an advantage over one offering silver. The use of gold
InJi fT?UrChaSe ?f crops is now preeminent in the wheat trade in the Punjab ; it is large
north ern^Pn din m tr.ade °* Bombay and the cotton and spring crops in
It h™ at W tn Yd A?8® .°btain?d .a f<x*ing m the west of the Madras Presidency,
it has at last touched the nee trade in Burma.
circulation ifi 8“ 3 Prior, ParagraPb) it is clear that gold has fairly free
UnitedProiinn^ T S’T’awJ’ l°u smalIer extent, in parts of Bombay and the
a fair number of bands 1118 ^lia^ there are many sovereigns which pass through
before fchev retnrn^n^r^^ 3re U8ed asa m.ed,um of exchange in many transactions
meaning which necl P?83 lnto boards- Giving “circulation” the wider
performed hv ei cli c< ;n ,i, ° mto account the number of exchange transactions
and increasing volume of miT emulation. Statement VI-A indicates a considerable
Bihar, and Orissa, and Burma?^111^1011 GXCept m Bengal (outside Calcutta), Assam,
downmUA ve^^aSnm^l ®Very 80Yer.eign wbich is absorbed is hoarded or melted
reserves traders have till Jl0 011^ “ m use in India. Banks have cash
be no doubt that soverml™°i?ey : ’,Pnvate Persora have their petty cash. There can
balance of cash in ivn, l g j ow b)rm some, and an increasing, portion of this daily
hoarded. Agahi a cm-tain^n S0Vfer?IgIf, ' 30 in use certainly m^t not be regarded as
It is not for me to discuss wbm b So d ?1U8t leave India in the pockets of travelers,
of exchange But the c< ,7.i ,eBier a F? d currency is necessary for the maintenance
opinions that the sovereign reaUv^sw enter, ra,w-n f r01?1 tbese figures and accumulated
withdrawal of the sovereign w.,.dd into tbe economic life of India. The
currency controversies areunknnwn ° 'v,be Vlewed with disfavor by many, to whom
other. y omrover8ies are unknown, who yet realize that this coin is superior to any
Financial Troubles in India.
[Official dispatch from Henry D. Baker, American Consul.]
important native busir^s^n/erests hi Tn<rri0U« bnanc‘al crisis has lately overtaken
been obliged to go intoliquidS caSg 2°™ ,°f the 1«»* native Ws have
to thousands of people generallv ’and r.rg f-evere ^ 088(38 1x3 many native firms and
depression tliroughout this Empire and n Spneral atmosphere of business
largest native banks in India IvTve foife WtTP^'1^1/ IP Bombay, where two of the
Specie Bank). The present barfkiSg tmrnu Cr°dlt Bank of Ill(lia, and the Indian
t,«nL9) and although there has beenVrun on ,confined entirely to the native
p to the present time none of the English ® 'vfeb*known English bank in Bombay.
G r> it. _ , _ -^nLilSh Or forPICm honl-a U . . . ~
mere Has beoiiarnnnn , i, entirely 10 me
yet up to the present time none of the EngHsb w,ell^nTn EnSlisb bank in Bombay,
in the failures, and they will probablv or/ore,£u banks have become involved
^Tlirff- stren8tbened. 1 y emerSe from the crisis with their credit and
°or8,rf instance revealed a scandal-
. I troubles of their institutions bv reason °f3,tiaYn‘8 evidently been responsible
m ezzlements. Some of those banks lnv a ! tbeir own personal speculations and
U y for 8omo tune past, but by false statP,PPTnt ^ been in a roal 8tate of insol‘
y Ul8e Btatements and careless or dishonest audits
OPERATIONS OP THE MINT SERVICE.
199
their true condition has been kept from the public until they were forced to go into
liauidation by reason of the runs made on them; moreover, in several instances the
dividends were found to have been paid not out of earnings but out of capital or
funds on deposit The present crisis is an extremely severe blow to what is known
V, the “gwadeshi” banking and industrial movement in India, the term “swadeshi”
meaning indigenous, or pertaining to the home or mother country of India, and
TuSSe of the idea of “India for the Indiana,” thus appalling to those native
elements which have felt that the business and industrial affairs of their country
should be controlled by natives and for local rather than for foreign profit.
The present troubles started in September, 1913, with the failure of the People s
ti l .? \ mritmir which urecipitated a run upon other native banks which some of
and other important local industrial ente P , ' markets for pearls, became
over, the local piece-goods and cotton markete, ^o the markem ^ ^ ^ the
extremely dull, and an atmosphere of anx iou . y Tliere was also heavy
commercial centers of India, but espec y t London, which created further
selling for Indian account in the silver . _ . native banks had been meeting
disturbing rumors to the effect tnat several l p ' q wh;cj1 had been attempting
with severe losses through their support 7 merchants who had apparently been
to comer silver, and also by large loans to pearl “^“fmarket.
placed in an insolvent condition by decli < {(P the better, and official govern-
The situation however, was again takmga . ce woun be given to worthy
ment statements to the effect that Fea?° , ^dence when on about the 20th of
institutions was causing some revival , , ,^er ’jn the Indian Specie Bank a
November a petition was filed by a sm petition was voluntarily Withdraw
Bombay for the winding up of this ba • J{ ^ose shares were purchased bv
about four days later by the petitione in’ the meantime the court procee .
bank’s directors at the price he asked, dmiLion of certain irregularities, wh c
which had already been instituted cau practically insolvent. During . (),)()
led to a general suspicion that the ban t^on funds amounting y pUtitled
days subsequent to the withdrawal of t p ^ank. jn fact, almost eve^ . rei.0iders
were withdrawn from deposit accoun , _ even the directors am , ^ ^
to draw money from this bank did ’“s il was realized that on lya* out $-0 ,oou
themselves, bn the night of December Wltbdrawals durinD me
remained as a cash balance in the Bombay by
next day of about $50,000. immense sensation was ere j dian Specie
On the morning of December 6, an imme^^.^ director of the d
the news that Mr. Chunilal D. ’ wkich was certified by « father of
Bank, had suddenly died from an ill *jr Saraiya had been financier in India, and
to have been due to natural cau®®^dered tiie greatest native bis more or less
swadeshi banking,” and was «n»derw the “silver king/’ owing to n^ ^
also had an international reputatio siiVer market, a*\ y purposes. The
successful efforts in the past to c silver bullion for garai y meutions that:
Government to pay his own Pn . , on the death of - • Jtbe heavy burden
Times of India, m an editorial fjgto on^ ^ deal8 and bom t^ ^ rapld,ty
“The skill with which he • the boldness of .hi 1 neri(?an finance rather
they entailed with an unruffled ’ ed to the ®Pbe^itb the conservative East,
and daring with which he worke , . med to associate w waa consigned to the
than to anything which we are ac yfr Saraiya, hi committed suicide was
Within tliree hours after the suspicion that be ti‘ u0f bis body had scarcely
funeral pyre so that the Pr^aA'"^eanUme, the cremat‘d ^ petition for the com -
incapableof being verified. I® , banks were in court . only five days p
occurred before the directors of G the same intores . t 8UCb a course n
pulsory winding up of the bank,amiiL Qtestatioiw aga
viously had been most vehement m^he j tlie bank at once ^ ^ I dian Specie
vied with each other in their d^f to ion {or thewindn^j^j^ ^ affairs stated
The judge in granting this sec . P tigation had 1" bank in silver specuh
Bank after a further provisional dy sustained '-j ioS9 of about r
that it had been found that the 9^al^y further anticipate
amounted to $2,625,820, while there
Tlio judge further said:
200
REPORT OF THE DIRECTOR OF THE MINT.
“In the investigation in the affairs of the bank the directors will have to meet some
very serious allegations made against them or some of them. They are all men of
respectability, some of them occupying high positions in social and financial circles,
and it may be that they will be able to meet the allegations made against them suc¬
cessfully and clear themselves from all aspersions that are cast upon them now. But
it seems to me that having regard to the colossal speculations in silver alone by the
bank for a prolonged period, having regard also to the immense sums of money lost in
those speculations, and having regard to the fact that it was a matter of common
notoriety that the Specie Bank was cornering silver, it would be a question for the
court to consider, when the question arises, if the directors were ignorant of these facts
during the whole time or whether they actively sanctioned or passively connived
at the managing director’s transactions and if they incurred any, and if so what,
responsibility in respect of these and other losses of the bank.”
It was also found that the Indian Specie Bank had made advances on approximately
$2,000,000 worth of pearls, which probably could not be sold under present market
conditions for more than about 75 per cent of the amount of such advances.
The announcement of the failure of the Indian Specie Bank caused severe demorali¬
zation in the silver markets of the world and within one day the Bombay silver market
showed a decline of about 1£ per cent, while American quotations for silver were
reported to have dropped 1 per cent. There was subsequently, however, a recovery
in value of most of such, loss, owing to a report that the bank’s entire unrealized stock
in London, both in actual silver and in the form of contracts for forward delivery, had
been acquired by a powerful London syndicate made up apparently of important
interests which already controlled a great deal of silver, the market for which it now
seemed necessary to support.
The collapse of the Indian Specie Bank has much further accentuated the condition
of business depression in India. Notwithstanding the present holiday season, when
business ought normally to be especially brisk, there seemed to be reports from all
parts of India, but especially in Bombay, of trade falling off, and of merchants haying
their money tied up in goods they could not sell. One leading newspaper proprietor
informs me that many of his advertising contracts have been suddenly canceled,
and that his usually very profitable newspaper now scarcely pays expenses. The
effect on various native enterprises which have made use of money borrowed from
native banks will undoubtedly prove very serious. Conditions in Bombay are at
present very similar to what they were in 1865 and 1866, at the time of the failure of
many banks and firms which became involved in the disastrous collapse of local specu¬
lation in cotton which followed the end of the American Civil War, when Indian cotton
was suddenly deprived of the profitable monopoly which it had temporarily enjoyed.
The banks which up to the present date (Dec. 11, 1913) have failed in India are
as follows: The People’s Bank of India, Lahore, India; the Credit Bank of India
(Ltd.), Bombay, India; the Indian Specie Bank, Bombay, India; Amritsar Bank,
Amritsar, India; Kathiawar & Ahmedabad Banking Co., Ahmedabad, India; Bombay
Banking C'o., Bombay, India; Hindustan Bank, Karachi, India; Lahore Bank (Ltd.),
Lahore, India; Pioneers Bank (Ltd.), Bombay, India.
Most of the above banks have had many branches in various parts of India, so that
the distress created by their failures has by no means been purely local.
Such a rude shock has been given to confidence in India, in the native or Swadeshi
banks, that even those which have probably been honestly and efficiently managed
are likely to find it difficult to continue business in the future. There seems to be a
general impression at present that practically all the banks which have failed were
operated on lines which would not have been considered sound, ethical, or honest
according to western ideas, and in fact that they were being run chiefly for the per-
sonal profit of their managers and directors, regardless of their responsibilities to de¬
positors and shareholders. The present discredit of the “Swadeshi” banks will, it is
feared, have far-reaching consequences in causing the native population to hoard
their money even more than they have done in the past. From an international
economic standpoint it has often been pointed out as being unfortunate that India, with
its tremendous collective wealth, should have such comparatively little capital
SLVnilnnlA fnr its inHnafrinl a _ i _ . x t .>» . •'.i • _ : m
rp-i << c ' converting it into jewelry and other articles of personal display.
Ihe bwadeshi banking movement which has now come to such grief had given
piomise of making the natives of India more venturesome with their treasure, ^
industry ^ ^vea ^ co\1|(^ made use of for the purposes of commerce and
use
of th
re
Unless, however, the natives of the country should now make greater
miopean banks which have demonstrated their soundness in this crisis
OPERATIONS OF THE MINT SERVICE. 201
there seems likely to be a greater tendency than ever for the people of the country to
hoard their savings.
The position of the Government of India with reference to this crisis is shown in the
following remarks from his excellency the viceroy in a recent address to the Madras
Chamber of Commerce:
“The disturbance of credit which originated in the first banking failures in the
Punjab has extended in some degree to northern India generally, while in the storm
center in Bombay the crisis has already produced calamitous results. I shall not
attempt to indicate the causes to which the troubles may be attributed. But I wish
to emphasize two points. In the first place, we have felt that in these exceptional
conditions the Government of India ought not to take up an attitude of entire aloofness
and detachment. We have closely followed the course of events, and where it has
been possible and legitimate to’ do so we have given timely assistance. I am glad to
say that there has been no undue disposition to look to Government for help. Such
help as we can properly give is limited in extent and necessarily subject to conditions
and safeguards. But what we could do has been and will continue to be done. Sec¬
ondly, I wish to say a word about the future. These failures have inevitably aroused
some distrust in Indian banking institutions, and the feeling of disquiet is not likely
to be quickly removed. We must all deplore the setback which these events must be
expected to give to the tendency which has been so pronounced in recent years for
the savings of the people to be increasingly applied in investment and industrial
enterprise. In spite of inexperience or recklessness, the movement was sound in
itself. Indeed, it is a necessary condition of India’s development and prosperity, and
I am convinced that it will be maintained in spite of temporary checks. If the Indian
investor is taught by these events to be more careful to distinguish between sound and
unsound undertakings, or if they pave the way for some better system of regulation
and protection, they will not have been unfruitful of beneficent result. Meanwhile,
I earnestly hope that the legitimate caution which these misfortunes inspire will not
degenerate into unreasoning dismay, the only outcome of which must be to confound
the good with the bad and bring heavy loss upon investors and depositors whose money
is lodged with some institutions.”
There has been a somewhat curious coincidence that only a few days previous
to the failure of the People’s Bank, which started the present panic, the Government
of India should have addressed local governments ana chambers of commerce on the
important question of banking legislation. It appears to be the present intention of the
Government of India to place a restriction on the use of the term ‘ ‘ bank ’ and to
allow it to be used only by companies which have been registered under the companies
act. There will probably also be in the future some minimum limit with regard to
subscribed capital, in order to prevent the establishment of useless and undercapi¬
talized institutions, and also it is likely that all banks will be required to carry proper
reserves, and not be allowed to distribute dividends at the risk of depleting necessary
reserves. Furthermore, the recent scandals as to the worthless audits of native banks
will probably lead to legislation fixing more clearly the duties and responsibilities of
auditors in this country. . ^ ., , ..
The present business depression in India seems likely to curtail for some time the
volume of foreign imports into this country, as until prosperity is again fully restored
the leading local merchants are likely to purchase only such goods as they are sure will
not be left unduly long on their hands. ,. ...
It may be well for American exporters to India who have been dealing directly with
native customers to take some extra precautions as to their financial standing, and
especially to see that any banking arrangements or guarantees are through well-estab¬
lished European and not native banks.
I have the honor to be, sir, your obedient servant,
Henry D. Baker,
American Consul.
Bombay, India, December 11, 1913.
BRITISH NORTH BORNEO.
Sandakan.
1, 2 (a and b), 3, 4, 5, 6, 9, 10, 11, and 12 (a and b). None. No mint.
.7. Approximate stock of silver coin in the country on December 31, 1912:
he treasuries, $257,000.
8. Government notes outstanding at the end of the year 1912, $727, 569.
In pub-
202
KU'I’MT <»r TUB IHHIVIOH of 1IIK MINT.
« SYL01.
*•••••*
t mih in On* k> <4»Utn »h« Ini <*•»»«*<•* lb* *tu uni 4 p 4
iM Him ow<) in itvJmuml *ru 4«H«c »k» « hU-mIjw vm 1*11
? A|rftr>.*nunu* *i*li «l goM m»4 «ilv*»r o4n in Urn timMry *m I**m*U« *|. i»i;
XI
rn+m <***
« MW«*r % > M »•*« f >l»k» .••*•*** • • • • ' A
£W* *»
* i?1** t*
m *+u
M
r>
• Hi* amm •vHteM*WIH«<Ai«tw •«wrt*L»uug 1W»» infa»TH»»um.
* o.'Vrrnmrot »4m nuMUnliiti »l th* ♦ n.i of ilte y«tr III!
(im
OPERATIONS OP THE MINT SERVICE.
203
9 (n\ Since the 9th moon of the first year of the China Republic (September, 191- )
tht amount coined by the Canton mint for the Kwan^si Transportation Department
1,999,737 20-cent pieces, equal to $399,947.40 Mexican currency.
Approximate stock of silver coin and bullion in Canton, December 31, 1912:
Stock.
In public
treasuries.
In banks.
In
circulation.
1 $1,000,000
l $20,000,000
1 $18,000,000
1 Mexican currency.
On December 31, 1912, it 'was estimated that there was a '’e£L' ^ooc^Srican
bullion onhandatCantor [• ^heamou^t of about $20,000,000
currency, of which over $1,000,000 was m ine uo^eriuix a ;n Hmilation was
in the banks, and the amount onhand ? a£{airS in Canton has only
S". iiwesligation are facompW*. Consequently
the above figures are only approximate -publican Government amounted to
8. During 1912 the new notes issued by the ^P^^Xuirencv, for the redemp-
*12,391.000, Mexican currency , ^ circulation. This amount,
tionofoldnotes,makmgatotalof$16,391,000newno , Government, which.
of course, does not include the notes issued by the about $5.000,000,
after the redemption of the $4,000,000, as abtn e rta « * Government’s having sus-
Mexican currency, still in circulation. Owing to the t s 1 1a j 5
pended the exchange of these notes into silver, the amount of alter con
serve is to be kept secret and can not be disclosed. enacted bv the cen-
10. No laws aSecting the currency or e yet been enacted Dv^
tral government, and as the procnncml go'erniiic 1 t )D the aper money, the
consequently no such laws are in existence. But P accept these notes as
Government as well as the business community to4transact business without dif-
a basis ol exchange, and native banks are allowed,
ferentiating between paper and sUver, and no das exportation of silver.
12 ( b ). Canton is the chief center for the ^ ^ no
Since 1912, by-laws have been in force 0f course, some were
coins were supposed to have been exported S Xo bullion was exported. The
doubtless smuggled, but the amount was no pertained until a report is submitted
importation and exportation of ore can not be ascertain*
from the maritime customs. M,.. cnmp Mexican dollars and Hong-
As regards the importation of silver coi • . respect to the amount of bullion
kong small coin, there was practically none. ^4 commissioner of finance was
imported, the amount purchased and Y h Kwaugsi Government was
taels 7,214,921-4-7, and the amount purchased by tne ivw 0
less than taels 1,000,000.
purenn Province.
1, 2 (a and b), 3, 4, and 5. None (no mint).
* * * *
7. Approximate stock of silver coin and bullion in
1912:
the Province on December 31,
Classification.
In banks.
In circulation.
Chefoo dollars.
250,000
850,000
‘$100,000
‘ 50,000
Silver bullion .
1,100,000
150,000
* Estimated.
There is no public treasury in the Province.
204
BEPORT OF THE DIRECTOR OF THE MINT.
8. Government notes outstanding at the end of the year 1912:
Government (semi) issue . .
Government outstanding (estimated).
Notes.
Notes out¬
standing.
$391,000
190,000
Bank notes (nil).
9. Premium on gold during 1912: Highest premium, 52 per cent; lowest premium.
46 per cent; average premium, 49 per cent. The actual currency of the country is
silver and copper.
10, 11, and 12 (a and b). None.
Chungking Province.
1. No gold coined. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
Silver (new coinage):
Dollars .
2,SS6. 988
146, 916
96, 950
370,561
Half dollars .
20 cents .
10 cents .
Total .
3,500.415
1 $2,996,692
1 Mexican dollars.
2 (al, 3, 4, 5, 6: 10 and 11. None.
2 (6). The above silver coinage was issued by the mint of the Province of Szechuan,
at Chengtu.
7. Approximate stock of gold and silver in the country: Impossible to ascertain.
8. About $13,000,000 (Mexican) in Government notes. Amount of bank notes
impossible to determine.
9. No gold standard recognized. Gold sells like any other commoditv.
12 (a). No movement of gold whatsoever reported.
12 (6). Imports and exports of silver daring the calendar year 1912:
Silver coin.
Silver bullion.
Imports.
Exports.
Imports.
Exports-
$1,186
$931
$2,096
$1,326,931
i No statistics by countries available.
(Values in United States currency . )
Foochow Province.
Information received from the Fukien Government Bank states that the bank can
Amount of paper notes issued by Government bank
Silver held for redemption, over .
Paper notes issued by all native banks . ’
Silver held for redemption . * ’
Silver dollars in circmatkm . „ .
$400,000 to $500- lX*
200.®*
1.500.000 to 1.000.®*
300 000 to 400.000
700.000 to soo.o*
OPERATIONS OF THE MINT SERVICE.
205
Hankow.
1. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
New coinage 1 dollar (Mexican) .
i $6,837,696
1 25, 304
1 6,863,000
Recoinage 1 dollar (Mexican) .
Total .
6,863,000
1 Mexican dollars.
2 (a and 6), 4, 5, 6, 7, 8, 10, 11, and 12 (a and 6). None. No statistics available.
9. Premium on gold during 1912: Highest rate, $2.36 Mexican; lowest rate, $2.08
Mexican ; average rate, $2.22 Mexican. The actual currency of the country is Mexican
dollars, valued from 40 to 55 cents United States gold, but value always fluctuating.
(This office has been in close correspondence with the Chinese authorities for months
to obtain the few statistics contained in this report ; in most cases, the officials can not
answer the questions asked, and practically no statistics are ever kept by the Chinese.)
Hongkong.
1, 2 (a), 3, 4, 5, 6, 10, 11, and 12 (a). None.
2 (6). “Of the total British dollars (silver) coined at the Bombay (India) mint, a
good deal goes to Tientsin and northern China for circulation there.”
7. Approximate stock of gold and silver coin and bullion in the Province on De¬
cember 31, 1912:
Classification.
In banks.
In circulation.
Gold coin .
i $1,172, 000. 00
225,000.00
* 5,002, 042. 81
* 500, 000. 00
6,899,042. 81
Gold bullion .
Silver coin .
S3 6, 992,370
Silver bullion .
Total .
36,992,370
i In addition, the following: Gold sovereigns, 4,133 ; double eagles, 3 : Netherlands gold florins, 30.
* Silver coin and silver bullion, 19,000,000 ounces; silver bullion, 50,297 ounces.
* Approximate circulation (approximate amount of Hongkong silver and copper subsidi¬
ary coins. 50, 20, 10, and 5 cent pieces, and 1 cent and mil pieces, put into circulation) . $43, 999, 830
Amount withdrawn from circulation and sold as bullion . 7,007, 460
Balance approximately in circulation
Values in Mexican dollars.
36,992,370
8. Bank notes outstanding at the end of the year 1912:
Item.
Notes
outstanding.
Legal-tender
silver holdings.
"Ranks of issue .
i $25,610,211
2 s:o, 080, ooo
i Hongkong currency. 2 Specie in reserve.
9. The actual currency of the country is silver.
12 (6). “Refer to Shanghai for total of silver imported from America, and refer to
San Francisco for total silver export to China. The difference between these two
amounts is chiefly accounted for imports of American silver in Hongkong, although a
Bmall portion has been continued to India.”
206
REPORT OF THE DIRECTOR OF THE MINT.
Hupeh Government Mint.
1. No gold coinage was executed at the mint.
Silver dollars -were coined at the Hupeh Government mint in 1912 to the amount
of $6,863,000; each dollar being eoual to 7 mace 2 candareens of Yangli sycee silver.
The total amounts to 4,941,360 taels.
The amount of recoinage is not stated separately, the above figures including both
recoinage and coinage from bullion.
No subsidiary silver currency was coined in 1912, as there is little demand for it in
this market.
Copper coins minted came to 468,356,000 1-cent pieces, known as 10-cash pieces,
each weighing 2 mace. At the average exchange of 130 coppers to 1 local dollar this
would be equal to $360,274 silver. Many of these coins were made of copper secured
by melting down old and useless cannon. They were used to redeem the notes of
the Hupeh Government bank.
2 ( a and 6). No coinage was executed at other mints for this Government, and
no coinage was executed for other Provinces or countries at this mint in 1912.
*******
4 and 5. No gold or silver in the form of plate, jewelry, or other old material was
used at the mint for coinage, pure sycee only being used.
*******
7. (No reply.)
8. It is stated that the notes of the Government bank are secured by the houses
and lands at Wuchang and Hankow belonging to the said bank. The commissioner of
foreign affairs states that this security is probably equal to the amount of the notes
outstanding. The cash notes have until recently been at par. The dollar notes have
been qouted on the street ordinarily at 110 coppers, which means a discount of about
15 per cent, as the silver dollar brings usually 130 coppers. The coin reserve is there¬
fore obviously insufficient or nonexistent. There being little demand for the dollar
notes they tend to be quoted lower, and less importance is attached to keeping them
at par than in the case of the cash notes.
No further information has been obtained regarding note issues.
Nanking.
1. No gold coined. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
Silver (new coinage):
One dollar .
23, 615,000
133,000
23.748,000
$23,615,000
26.600
123,641,600
Twenty cents .
Total .
i The silver bullion used was entirely of native origin. The dragon doUar coined at Nanking and else-
where is approximately the same weight and fineness as the Mexican dollar.
2 (a and b), 3, 5, 7, 8, 10, 11, and 12 (a and b). None.
4. The Nanking mint has received from Yunnan and Shensi 485,000 ounces of
silver bullion this year (1912).
*******
9. There is a premium on gold. The actual currency of the country is copper cash.
Newchwang Province.
1, 2 (a and 6), 3, 4, 5, 6, 10. and 11. None.
7. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1912:
Classification.
In banks.
In
circulation.
Gold coin .
$400
Gold bullion .
Silver coin .
ago non
$260. 000
Silver bullion .
Cl A)Vk
44! 100
Total .
Ox %
•i i xnn
304. 100
Ol 1 « llW
OPERATIONS OF THE MINT SERVICE.
207
8. Government and bank notes outstanding at the end of the year 1912:
Notes.
Notes out¬
standing.
Gold
holdings.
Legal-tender
silver
holdings.
$174,800
(*)
0)
510.000
0)
(*)
'T/V'f ol .
684,800
• Reserve held at Home Offices of Yokohama Specie Bank and Russo-Asiatic Bank.
9. Premium on gold during 1912: Highest premium, 52f per cent; lowest premium,
44 per cent; average premium, 48 per cent. The actual currency of the country it>
Mexican dollars; Haikwan and Newchwang taels.
12 (a). Imports and exports of gold during 1912. a one.
12 (6). Imports and exports of silver during the calendar year 1J12.
Coin.
Bullion.
Country.
Imports.
Exports.
Imports.
Exports.
$60. 130
$473,830
$413, 670
$247, 790
Mukden.
1. Gold coinage during the calendar year 1912. None.
i . Denomination.
Silver coinage as follows:
Number.
20-cent pieces
22, 227, 540
2 fa and 6), 4, 5, 9, 10, and 11. None.
*******
7. Approximate stock of gold and silver in the country on December 31, 1912:
Classification.
In circulation.1
Sycee dollars .2
17,182,968
i In Fengtien Province,
s Svcee dollar equals United States $0.40.
3 Includes stock in public treasury and m banks.
8. Government and bank notes outstanding at the end of the year 1912:
[In Fengtien Province.]
Notes.
Notes out¬
standing.
Legal-tender
silver hold¬
ings.
[ U0, 415, 045
\ 210,000
l 3*200,000
1 150,000
| *4,353,926
‘300,000
Total .
10,775,045
4,653,926
1 Syeee dollars. 2 Mexican dollars. * Mukden taels. ($l=*United States $0,65.)
Information for other banks unobtainable.
208
BEPOBT OF THE DIBECTOR OF THE MINT.
12 («>. Exports of gold (Manchuria) during the calendar year 1912:
Classification.
Country.
Exports.
Gold bullion and ore .
Korea
Bait ican taeUA
5,446
1 Customs taels. (SI— United States $0,716.)
12 (b). Imports and exports of silver (Manchuria) during the calendar year 1912:
Country.
Silver coin.
Silver bullion.
Imports.
Exports.
Imports.
Exports.
China
Japan .
Haiktcm taeU*
Haikvran tod*.1
Haiktr an tails.1
Haiiican tod*.1
1,067,742
64,000
10,536
3,889,673
47,900
64,886
4,534, 764
1,245,124
Korea .
2, in
70,017
Total .
1,142,278
4,002,459
4, 536,935
1,315,141
1 Customs taels.
Peking.
1- gold coined. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
Silver ( new coinage):
Dollars-..! 71?. .
43,917,349
110,361,140
154, 27S, 459
20 cents . .
Total .
i $32,545,010
. 1
1 United States dollars.
XoTE.-Partial report. Four mints reported: Mukden, Tientsin, Nanking, and Canton.
2 (a and b), 3, 4, 6, and 11. None.
b. Amount of United States gold coin imported during 1912: $9,375. None melted
at mints. *
Unknown* °* g°ld 40(1 COin and buUion in the country on December 31, 1912:
8. Government and bank notes outstanding at the end of the year 1912:
Items.
Government . . . . .
Banks of issue .
Total .
Notes out¬
standing.
1 $55,061,922
i 10,043,383
165,125,305
’ — w states dollars.
ln^^KIr^n^nfoT 'zT have sported butt^Se* are Uuf m os t°i from some oI the pr0n
The paper currency issued by many of the provinces durine thifrU-'SKs Un-t- **75\000’000 ma7 covers '
10 to 30 per cent. The amount of this currency is stated only arprortmat ' d** * dl3COUIlt> varying fr°E
Sk*jasarB?a. , , „
former Ta uE’ing Bank-the Imperial Government BaSk-but^hl Gove^men! bS
OPERATIONS OF THE MINT SERVICE.
209
"t\e:nnkt'Ci„tc°l„TdPly ^ P°rti0n °f thC « A «<>Py of the regulations of the
12 (at. Imports au<l exports of gold and silver during the calendar year 1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Europe .
$957,032
$8,622,863
3,488,200
1,701,688
$6,136
$6,255,952
America .
$97,828
$496
82,289
19, 733
1,736, 789
9,884,372
693, 259
14,392
154
India .
Saigon and Tonkin . . .
244, 445
557,879
Hongkongand Macao.
Japan .
$145,817
6, 499,968
87,989
4,212
2,362
348, 799
42,328
3,419
6,958,017
249,373
1,607
10, 268, 876
116,960
15, 854
oon 470
i, 666, 945
367,090
52,553
75
Korea .
24,666
Vladivostok....
Siam .
1,185
Dutch Indies.
Straits Settlements. . .
Total .
823, 162
9,058
12, 436
7,468,947
210, 483
8, 255
1,352,178 1 12, 350, 988
21,021,754 !:
10,881,799
8,246,930
DRAFT LAW FOR UNIFICATION OF SILVER COINAGE.
[Extract from the Peking Daily News, Nov. 19, 1913.]
The following draft is drawn up by Mr. Hsu Un-yuan, acting director of the audit
department, who was one of the three members on the currency reform commission
specially appointed by a presidential order dated February 20. The Government
has decided upon the adoption of the silver standard. Mr. Hsu, who is himself a
strong advocate of the silver standard, makes it the basis of his scheme for the unifi-
catum of the national coinage. We learn that the general outline of the scheme which
the Government will adopt is similar to what is recommended by Mr. Hsu. — Ed.
Article 1. The unit of the national coin of the Chinese Republic will be called
the huan.
Note. — In olden' times the currency system in China was called “huan-fa. ” In
the past we have been accustomed to call the dollar yuan. This word is also used by
Japan. In order to make a distinction between the currency units of the two coun¬
tries, we adopt the ancient name huan as the name for our unit. The various coun¬
tries which join the Latin Coinage Association observe the same standard as regards
weight and fineness, but the names by which their standard coins are designated are
different from each other.
Article 2. The total weight of the unit shall be 55 candareens Kuping weight, or
20 grammes.
Note. — The principal cause responsible for the confusion in our currency system
is the lack of fixed value of the standard and token coins. One necessary step in the
reform is to arrange the values of the coins so as to render possible the introduction
of decimal progression, which will greatly facilitate the unification of the currency
system.
The 72-candareen silver dollar now in circulation is approximately equivalent to
1,300 cash or 130 coppers, which is a very irregular and inconvenient number. It is
impossible to introduce decimal progression with this number, and if it is forcibly
done, there will be ample ground for the playing of tricks, and the State will suffer
from it.
The silver dollar is in circulation in the prosperous trading ports, but in inland
towns the cash is the principal medium of exchange. The cash lias thousands of
years of history behind it. In examining our ancient history we find that only the
cash was profusely alluded to in connection with the currency of this country. It
is therefore quite true to say that the history of the currency system in China Is the
history of the cash. In reforming the currency system the traditions of the country
and the customs of the people must bo seriously considered. We must not neglect
the problem of the cash in reaching a decision upon the weight of the unit.
r As the 72-candareen dollar is now approximately equivalent to 1.300 cash, then the
55-candareen dollar will be approximately equivalent to 1,000 cash, which' is a num-
24950°— 14 - 14
210
REPORT OF THE DIRECTOR OF THE MINT.
ber at once regular, convenient, and possible of decimal progression. The relative
value between silver and the cash will not be altered. The people will be in posses¬
sion of a dollar whose value is not too high for daily transactions. It will not tend to
force up the standard of living.
The 72-candareen dollar is of too high a value to be suitable to the people and it
invites irregularity. Some persons contend that the 72-candareen dollar is to be
preferred because to change it to 55 candareens will occasion a disturbance on the
market. But I assure them that this disturbance will be no greater than that which
will be occasioned by the enforcing of a fixed class of the 72-candareen dollar. For
we all know the different Provinces are using different classes of dollars, and the re¬
jection of the dollar from a neighboring Province by the bankers has become almost
an unbreakable custom. The Peking dollar will not be tolerated in Shanghai. The
Shantung bankers profess that they will acept all classes of dollars. But while accept¬
ing the Hupeh dollar at its normal value, the Shantung bankers will depreciate the
Peiyang (northern) dollar. It will be very difficult to compel the bankers to accept
all classes of the 72-candareen dollar without discrimination.
Dr. Vissering, adviser to the Chinese Government on currency, is also of the view
that the change of the unit to a lesser value will be of great benefit and utility to the
Chinese people. This proposal is generally endorsed by the foreign banks in China.
The currency loan will be the means of effecting the currency reform. The views
of the foreign bankers should also be considered .
To introduce by force decimal progression with the 72-candareen dollar will be a
source of great danger. This act will encourage speculation. A dollar is now worth
as much as 1,320. If its value is forced down to 1,000, the laboring and other classes
will suffer acutely, as the dollar will be depreciated by one-fourth of its usual value,
and there is no prospect of lowering the price of the necessary commodities.
Therefore the adoption of the 55-candareen unit is the most reasonable way of
effecting the unification of national coinage.
Article 3. The fineness of the new unit “huan” shall be 90 per cent.
Note. — In foreign countries the fineness of the standard coin is usually 90 per cent.
The “fuan” shall consist of an alloy with 90 per cent silver and the remaining part
copper.
Article 4. The huan shall be divided into 100 feng or cent; each feng shall be divided
into 10 li.
Article 5. The national coinage shall consist of the following classes:
A. The standard coin. There shall be one kind of standard coin, the huan, which
is the unit of the national currency.
B. The token coin. There shall be three kinds of token coin:- Silver, nickel, and
copper.
1. The silver token coin is subdivided into two kinds: 50 feng and 20 feng.
2. The nickel token coin is subdivided into two kinds: 10 feng and 5 feng.
3. The copper token coin is subdivided into two kinds: 1 feng and 1 li. One li
shall be of the same value as the cash now in current use.
Article 6. The following limit shall be placed on the use of the various kinds of
coins:
A. There is no restriction to the use of the standard coin.
B. The amount of silver token coin involved in one transaction shall not exceed
10 huan.
€. The amount of nickel token coin involved in one transaction shall not exceed
5 huan .
D. The amount of copper token coin involved in one transaction shall not exceed
1 huan.
But the above rules do not apply when respectable banks and firms or trustworthy
merchants take the token coins to the Bank of China and change them for standard
coins.
Article 7. The designs of the coins shall be as follows:
A. The standard coin. On one face of the huan shall be inscribed the national flag
and four words: “Standard coin, one huan.” On the other side shall be engraved
the picture of the President, and the date when the dollar is minted
B. The design of the silver and nickel token coins shall be similar to that of the
standard coin.
C. The design of the copper token coin shall be described bv separate regulations.
Article 8. The mint remedy is specified as follows:
A. The difference between the weight of the standard and token coins turned out
by the mmt and that of the legal tender shall not exceed 3/1000
B. The difference between the fineness cf the standard and token coins turned out
by the mmt and that ot the legal tender shall not exceed 3/1000.
OPERATIONS OF THE MINT SERVICE.
211
Article 9. The wear and tear of coins shall be regulated as follows:
When on account of wear and tear the standard coin loses 1 per cent of its legal
weight it may be exchanged at the Bank of China for a new coin.
When on account of wear and tear, the token coin loses 5 per cent of its legal weight,
it may be exchanged at the Bank of ( hina for a new coin. ,
Article 10. The^ weight and fineness cf token coins shall be specified in another set
of regulations.
Shanghai.
1 9 / a and b ) There are no mints in operation in the Shanghai consular district.
’ “*
4 and 5. None. ......
6. No mines in the Shanghai consular district. _ i^oi iqio.
7. Approximate stock of silver coin and bullion in Shanghai on December 31, 19 .
Classification.
In banks.
8
$6,810,000 Mexican ($3,336,900
United States).
24,822,000 Shanghai taels
($816,779,6/2 United states;.
1 Inconsiderable.
8. Government and bank notes outstanding at the end of the year 1912:
Notes.
Chinese Government supported banks.
Banks of issue (foreign) .
T otal
Notes out¬
standing.
1 $1,388,487
13,601,847
4,990,334
i United States currency.
(approximately).
10 and 11. None. _ , „,w1 D;uror Murine the calendar year 1912:
12 (a). 1
Silver.
Country.
America .
Europe . .
Vladivostok .
Straits Settlements.-. .
Korea .
Hongkong and Macao.
mosa .
Total.
Gold.
Imports.
Exports.
Coin. «
Bars,
dust,
etc.
Coin.
Bars,
dust, etc.
. 8
! *22," 379 .
14,523
$479
“i‘i46’
$925,279
. 129,903 .
. 0,280,374
23,833
2,282
18,375
. 6,432,050 1
18,356
5,112
1,280,609
Imports.
Exports.
Coin.
Bars and
sycee.
Coin.
Bars and
sycee.
$2,211
$3,370, 3G1
7, 632, S44
i, 644, i98*
$5,929
$6,044,602
" 26i,225
12,015
'‘"o’iio
1,988,502
618,298
1,156,665
240,947
1,375,932
863, 134
352,876
2,615,427
14,045,015
1,381,861
7,533,852
NoxE.-lloduo.Uon from Haikwan tads made at 0.715 the average United States Government rate for 1012.
212
REPORT OF THE DIRECTOR OF THE MINT.
SWATOW.
1, 2, (a and b ), 4, 5, 6, 10, and 11. None.
* * 4 * * * *
7. Approximate stock of silver coin in tlie province on December 31, 1912:
Classification.
In banks.
In circula¬
tion.
Silver coin .
1 8600, 000
>850,000
1 United States currency.
8. Government and bank notes outstanding at the end of the year 1912:
Notes.
Notes out¬
standing.
Legal-
tender sil¬
ver hold¬
ings.
Government . ...... .\ . . . .
i $50,000
1 750, 000
Banks of issue .
> $200, 000
Total .
800,000
200,000
1 United States currency.
Government notes outstanding consist of provincial military notes, against which no treasure is held.
44 Banks of issue ” notes are those issued by Chinese banks in Swatow. One bank in Chaochowfu and one in
Chenghai are said to issue notes in small quantities, but speaking generally bank notes are current only in
Swatow, not in interior points. 44 Banks of issue’* notes outstanding do not include those issued by the
Bank of Taiwan, a Japanese bank, and the only foreign bank in Swatow. This bank refused to give any
information and it is impossible to secure any accurate estimate of its local note issue or reserve. It is
believed, however, that the local issue and local reserve are probably included in the totals supplied
from Japan, the head office of this bank being in Formosa.
9. Premium on gold during 1912: Highest exchange, 515 per cent; lowest exchange,
46i per cent; average exchange, 495 per cent.
The actual currency of the country is Mexican (i. e. Trade) dollars.
12 (a). The customs returns do not show any imports of gold, but there is a limited
quantity imported from abroad, chiefly Siam, Straits Settlements, and other southern
points, by returning emigrants, in the form of rings, bracelets, etc., of fine gold.
12 (6). Imports and exports of silver during the calendar year 1912:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Hongkong .
8324,958
$49,200
$2,900,143
219,874
27,552
9,013
1,135,171
$1,786
Japan and l ormosa .
Netherlands India .
Chinese coast ports .
.336,695
7,0S5
Total .
061,653
56, 285
4,291,773
1,786
Tientsin.
1 . No gold coined. Amount of silver coined during the calendar year 1912:
Denomination.
Pieces.
Value.
Silver (new coinage) dollars. . . .
10,304.340
• 84,801,822
_ r - .
* t’niteU Stot os currency.
OPERATIONS OF THE MINT SERVICE
213
2 (a and b ), 10, and 11. None.
3, 4, and 6. No data available.
5. United States gold coin imported for United States troops in Tientsin, China,
$210,800. f
7. Approximate stock of gold and silver coin and bullion in (he Province on Decem¬
ber 31, 1912:
Classification.
In public
treasuries.
In banks.
In circula¬
tion.
Gold coin .
(>)
c)
o
<i)
0)
o
2 $1,710,000
3,580,000
0)
Gold hull inn .
Silver coin .
to
Silver hull ion .
i
Total
5,290,000
i No data. * Foreign coin.
8. Government and bank notes outstanding at the end of the year 1912:
Notes.
Notes out¬
standing.
Legal-tender
silver hold¬
ings.
Government brink*? . . . . . . - .
$243,974
o
2,974,032
(i>
Total .
3,218,006
_
> No data.
9. There is a premium on gold. The actual currency of the country is silver.
12 (a). Imports and exports of gold and silver during the calendar year 1912:
Gold.
Silver.
Country.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Chinese ports .
Philippine Islands .
$55,434
210,800
$419,576
$6,397,518
$838,360
$1,827,42*
C-*- > «-)«_)**
4,643,569
1,432,000
699,685
266,234
22,554
5,063,143
8,529,203
838,360
1,827,429
of exchange being as follows: Mexican
cents United States currency.
JAPAN.
1. Amount of gold and silver coined during the calendar year 1912:
- - -
Denomination.
Pieces.
Value.
Gold:
1,453.000
100,000
Yen.
U J cu. - - - *
1,553,000
1 29, 560, 00$
Silver:
5,610,282
21,110,930
IU . . ........
26,721,212
! 4,916.234
i of which amount 29,475,548 yen were new coinage and 84,452 yen were from the recoinage of foreign
C°VaU domestic recoinage.
214
REPORT OF THE DIRECTOR OF THE MINT.
COINS MELTED.
Classification.
Gold.
Silver.
Domestic . .
Yen.
Yen.
6,083,640
332,000
Foreign .
84,452
Total .
84,452
6, 415,640
Note. — Values of coinage are face values. On account of the illegibility of the faces of the coins melted
their value is calculated on weight at the rate of 1 yen per each 7.50 grams.
2 (a and b), 3, 4, and 9. None.
5. United States gold coin imported during 1912, $1,636; melted at mint in 1912,
79,691 yen.
Note.-— As faces were illegible value is calculated at rate of 1 yen per 7.50 grams.
* * * * * * *
7. Approximate stock of gold and silver coin and bullion in the country on December
31, 1912:
Classification.
In public
treasuries.
In bank of
Japan, i
In circula¬
tion.
Gold coin .
Yen .
Yen.
107,144,568
141,018,380
376
325,450
Yen.
35,594,084
Gold bullion .
Silver coin .
9,702,326
3,327,776
li 2, 262, 4 72
Silver bullion . .
Total .
13,030,102
248,488,774
147,856,556
1 Circulation includes the amount in the Bank of Japan other than convertible note reserve, 1,465,394 yen
in amount.
8. Bank notes outstanding at the end of the year 1912:
Notes.
Convertible
notes out¬
standing.
Gold coin
and bullion
reserve.
Covered bv
public bonds*
etc.
Bank of Japan .
Yen.
448,921,708
Yen.
247,023,380
*
Yen.
201,898,328
Note. — No silver coin and bullion reserve; no Government notes in circulation at present.
10. Laws passed during the year 1912: Banking laws Nos. 15, 16, and 17, April,
1912, amending the laws of the Hypothec Bank of Japan, the agricultural and indus¬
trial hanks, and the Colonial Bank of the Hokkaido, relative to the issue of debentures
(certificates). There are no new laws affecting the coinage or currency.
12 (a). Imports and exports of gold and silver during the calendar year 1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Coin.
Coin.
Bullion.
Coin.
Bullion.
China .
Kwantung .
Yen.
187,526
11,958
Yen.
82,905
Yen.
12,675,240
Yen.
3, S28
60,279
4,660
Yen.
982, 626
4,342
Yen.
13, 987
100,000
5,521
Yen.
5,062,072
Hongkong .
7,775,000
100,000
1,609
500,000
150,000
i, 913, 850
British India .
Straits Settlement .
United States .
Australasia .
Rritish A moricn
400
3, 773
10,094,034
24
23,661
England .
Germany .
1,867
OQQ
105, 790
4,213
Total .
199,884
10, 180, 712
21,201,849
UOJ
70,997
1,092,758
147,382
6,975,922
OPERATIONS OF THE MINT SERVICE.
215
Imports and exports for Formosa and Chosen (Korea):
[ Figures include both gold and silver.)
Country.
China .
Japan .
Hongkong .
United States. - - -
Unknown .
Total.
Formosa.
Imports.
Coin.
Yen.
i 4,020
a‘2'734
6,754
Bullion.
Yen.
3 188
188
Exports.
Coin.
Yen .
1 12,728
*"‘1*726
Chosen (Korea).
Imports.
Coin.
13,448
Yen.
2 23,761
2 22,600
46,361
Bullion.
Yen.
V 89, 870
89,870
Exports.
Coin.
Yen.
2 8,579
2 254
Yii*868
20, 701
Bullion.
Yen.
2 19, c30
19,530
1 Gold and silver.
* Silver.
< S9?035 yen silver and 835 yen gold bullion.
KOREA (CHOSEN).
1 2 (a and 6), 4, 5. 9, and 11, none. No mint in Chosen; Japanese coins are in
'Tno “official data available. Industrial arm are in a very undeveloped cond.tron.
7. Approximate stock of gold' and silver coin and bullion in thecountry on December
31, 1912: _ _
Items.
Gold coin . .
Gold bullion .
Silver coin .
Total .
In public
treasuries.
$313,348
313,348
In banks.
$994,806
889,857
38, 728
1,923,391
In circula¬
tion.
$1,825
*3,*509, 4F0
3,511,305
8. Bank notes outstanding at the end of the year 1912:
Item.
Banks of issue .
Notes out¬
standing.
$12, 724,099
Gold hold¬
ings.
i $4,365,777
_ _ _ . 7" RaTllr Janan under regulations for Bank of Korea (Chosen).
" . Including amount of notes Ohosenare the Hongkong & Shanghai Banking
82“ * China’ both B corporaUon')
^ A during the year 1912: Bank Ordinance No. 5, of October 24. 1912
10. Laws passed dun g i X ^ (1911k .
(according -to law No. 30 ™ * Jthoritieg report as follows: Imports of specie and bul-
. 12 <a anl$.‘ oxporto o7“pecie and bullion, $5,041 .867. Official returns do not give
lion, $733, 7ou; “ *
all of these details- ^ of ld and silver from Chosen during 1912, according to
The value o ■ mining bureau, was as follows: Gold, $4,689,285; silver, $16,000,
the reports of the mi
(gold ore, $!• - SIAM.
’old or silver coinage was executed at foreign mints for this Government,
2 ® * following nickel coins were manufactured at the Belgian Royal Mint for Siam
but the folio i -ata 2,000,000 pieces; nominal value 100.000 ticals; 10 satangs,
fjBjoO pieces; nominal value, 150.000 ticals.
i From Consul General George H. Seidmore, Seoul, in Daily Consular and Trade Reports, Aug. 21, 1913.
216
REPORT OF THE DIRECTOR OF THE MINT.
3. No information available regarding the amount of gold and silver used in in¬
dustrial arts.
*******
7. Approximate stock of silver coin and bullion in the country on December 31, 1912:
Classification.
In public
treasuries.
In circula¬
tion.
Silver coin .
Tieals.
23,930,099
397, 661
24,336, 760
m
Silver bullion .
v. )
Total .
-
1 The silver in circulation used to be estimated at a figure of 100,000,000 tieals, but seeing that 20,000,000
ticals are now held in the paper currency reserve and that no new tieals have been minted for several years,
the figure may safely be reduced to 75,000,000 or 80,000,000 tieals.
8. Government notes outstanding at the end of the year 1912:
Item.
|
Notes
f outstand¬
ing.
Legal-
tender
silver
holdings.
Government notes .
Tieals.
28,346,995 |
Tieals.
20,050,37#
- L. - - -
12 (a). Imports and exports of gold and silver during the calendar year 1912:
Country.
Gold.
i
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Leaf.
Coin.
Bullion.
Coin.
Coin.
Singapore .
Tieals.
68, 120
21,817
Tieals .
Tieals.
Tieals.
Tieals.
17,950
Tieals.
192,858
United Kingdom .
Hongkong .
476,000
1,470, 000
330
21,120
594,821
700, 801
48,900
466, 877
60
China .
Pnoh in Phinu
V'ULll 111 v 11 llicl . . .
India .
99, 477
Total .
89,937
1,946,000
330
21,120
1,829,349
292,394
STRAITS SETTLEMENTS.
1, 2 (a and 6), 4. and 5. No mint in Straits Settlements
7. Approximate stock of gold and silver coin and bullion in the colony during th®
calendar year 1912: J &
Classification
In public
treasuries
and currency
note
vault.
In banks.
In circu¬
lation.
Gold coin .
$232, 190 i
12, 198, 722 i
!
©liver com ^dollars and half dollars) .
$706,554
$6,i6i,54*
OPERATIONS OF THE MINT SERVICE
8. Government and bank notes outstanding at the end of the
217
year 1912:
Notes.
Notes
outstanding.
Gold holdings.
Legal-tender
silver
holdings.
Government .
COQ ^70 104
54,930,193
$12,093,057 33
Banks of issue. .
coy, OiZr 1.54
273, <K)5
Total .
39,845, 739
4,930,193
12,093,057.33
9, 10, and 11. None.
12 (^)— Imports and exports of gold and silver during the calendar year 1912:
1
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
1
Exports.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion,
► Coin.
Bullion.
United Kingdom.
$626,233
131,413
857, 142
3,529,652
5, 462,256
37,200
44,748
130,016
1,714,926
$67,269
7,500
516,379
$92, 00f
70-1,361:
37, 00C
3,800
1,614
2,339, 102
1
British North Borneo. .
British India..
Ceylon .
$33,200
in
9, 154,086
$53, iso
265, 149
l| $82
II .
|
Hongkong .
Malay Peninsula..
Australia...
6,945,706
65,900
720,249
590,609
677.017
492,895
259,593
42,963
$1,725
360
1 _
1,580
AustriarHungary
Netherlands..
500
Turkey . .
China
42,857
8,600
411
6X6
663,644
59,239
1,250
2i,750
French indo China...
Japan.
i, 550
3,400
200
Portuguese India .
Netherlands India....
Siam...
453, 112
79,861
70,806
400, 169
415,251
i, 882, 716
120,298
Vnited States .
4,4i6
Persia .
985
Aden .
2,eio
17,389
Arabia...
Total .
12,992, 658
7,045, 791
11,240,412
1,945,627
1,457,554
23, 835|,
5, 181,099
1,662
Note. — Values given are in Straits Settlements dollars.
AFRICA.
EGYPT.
1. Silver coined during the calendar year 1912:
Denomination.
Number of
pieces.
Value.
Silver:
223,500
369,000
1, 592, 000
300,000
171,070
£ E.
2,655,570
168, 910. 700
of:
value
218
REPORT OF THE DIRECTOR OF THE MINT.
1 (4)! Comage°executed a^the mint in Birmingham during 1912: 168,910.700
Egyptian pounds.
3. No estimate obtainable.
* * * * * * *
7. Approximate stock of gold and silver coin in the country on December 31, 1912:
Description.
In public
treasuries.
In banks.
In circula¬
tion.
•
£ E.
£ E.
302.097.738
0)
(')
O 1 1£ < (1
521,339.000
0)
o, lib, 4il
1 823,436.738
1
(')
3,116,441
i Unknown.
8. Bank notes outstanding at the end of the year 1912:
Notes out¬
Gold hold¬
Item.
standing.
ings.
£ E.
£ E.
National Bank of Egypt .
2,900,000
1,481,197
12 (a). Imports and exports of gold and silver during the calendar year 1912.
Sil\
Country.
Gold.
er.
Imports.
Exports.
Imports.
Expo
rts.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Coin.
Bullion.
Great Britain . - -- -
British possessions in the
Far East .
Turkey .
France .
AustriarHungary .
Greece .
£ E.
7,810, 184
3
1,090,675
1,577.260
520, 463
243, 486
64,840
37,721
£ E.
28,683
16,523
£ E.
62,874
7,254,941
118,982
1,420
26
14
"*"i5, 864
£ E.
35,177
114
29,511
1,034
22,117
10
1 . 35’
660
£ E.
168,914
9,543
280
427
414
32
. 7*
£ E.
38,533
181
196
4,077
116
£ E.
18,773
i,072
488
57
30
. i
£ E.
i,255
79
«•••••••
•••••••*
Total .
11,344,632
45,206
7, 454,121
88,658
179,617
43, 103
20,421
M34
Gold and silver imports and exports of Egypt , 1907-1912.
Calendar year.
1907.
1908.
1909.
1910.
1911
1912
I
Imports.
Exports.
Excess of
imports.
1
Excess of
exports.
Imports.
Exports.
Excess of
imports.
$36,228,859
685,322
34,571,515
63,725,141
34,677,330
. 56,299,920
$23,387,523
18,867
32,304,482
34,638,384
35,433,549
37,283,957
$12,841,336
666,455
2,267,033
29,086,757
19,015,963
$756,219
Fine ozs.
3,690,248
12,930,604
9,655,961
16,412,777
3,767,661
1,804,762
Fine ozs.
3.554,394
3.559,811
7,705,384
8, 108,106
3, 172,240
1,762,868
Fine ozs.
135,04
9,370,793
1,950, ;
8,304,011
595,421
41,894
. 226,188,087
163,066,762
63,877,544
756,219
48,262,013
27,862,803
20,399.
1 .
63,121,325
- —
Total.
Net imports
OPERATIONS OF THE MINT SERVICE.
219
MOROCCO.
1. Silver coinage during 1912:
Denomination.
Number of
pieces.
Value.
•
New coinage:
One rial .
4,064,000
3,230,000
/ 577,943
\ 2,055,730
Hassani pesetas .
| 32,132,428.75
j- 2,569,662.50
Half rial .
Reeoinace Quarter rial .
Total.... . . . . .
10,533,673
34,702,091.25
2. All coinage 'was executed at the State mint in Paris.
3, 4, 5, 6, 7, 10, 11, and 12. No.
8. Amount of bank notes outstanding at the end of the year 1912: 1.445,500 Hassani
9. Premium on gold during 1912: Highest, 126J for 100 francs; lowest, 116 for 100
francs; average, 123| for 100 francs
BOMA, KONGO.
1 and 2 (a and b). Belgian and French currency circulate in Kongo; there are no
Kongo metal coins; no gold, or very little, in circulation in Kongo.
*******
4, 5, 9, 10, and 11. None.
7. Approximate stock of money in the country on August 1, 1912, all moneys in
circulation, $4,693,335.40. , . . . , _ 1Q11
12 (a). Imports and exports of gold and Bilver during the calendar year 1911 (the
latest statistics known): _ _
Gold coin.
Silver coin.
Country.
Imports.
Exports.
Imports.
Exports.
$50,180
$601,976
i $1,768,652
i From September, 1910, to September, 1911.
GOLD COAST COLONY.
Quantity and value of gold and gold dust exported from the Gold Coast Colony during the
* year 1912.
Name of company.
Quantity.
Value.
GOLD COAST.
Allontiakoon Mines (Ltd.) - . . . . * ’ * ! .
Ounces.
15,077.220
53, 840. 275
50. 000
4,527.555
921.000
2, 169. 600
14,866. 769
30,335. 920
1,358.500
81,596.800
230. 000
716. 873
34,242. 325
1,033.960
59.250
£. s . cf.
60,386 1 11
215,965 7 5
1S5 0 0
17,890 11 7
3,618 0 0
7,465 4 9
54,724 0 0
117,045 13 8
5,434 0 0
294,627 1 6 9
745 0 0
2,384 10 7
138,500 7 8
3,959 15 4
235 0 0
ADOSSO VjrOlQ Mining V - - • .
Afloh Gold Mining Co.. VVLVi . .
Ancobra Exploration and predging Cc . ( ) .
Akoko Gold Mines and Estates (Ltd.; . . _
Akoon Mines ( Ltd.). - - ; - . .
Bibiani Goldfields ( Ltd.) . .
Broomassie Mines ( Ltd.) - • - — -x- - • .
Fura Gold Dredging Co. (Ltd.; . .
Tarauah Banket Minm&Sjmdicate (Ltd.) . .
-
West African Trust (Ltd.), (berwj) . .
General explorers .
241,026. 047
923,166 9 8
Total lor v* <jica
ASHANTI.
128,928. 700
2,643.560
5, OW. 400
485,287 3 7
10,569 12 0
20,244 12 0
Ashanti Goldfles L.td ) . .
Ashanti nivers an l Coi'c^ionsC Ltd.) . .
Oilin River Gold instates ^ .
136,632.660
516,101 7 7
p-rtrid tninl Gold Coast Colon v. . .
377,658.707
1,439,267 17 3
220
REPORT OF THE DIRECTOR OF THE MINT.
Quantity and value of concentrates exported from the Gold Coast Colony during the year
Name of company.
i
Quantity.
Value.
GOLD COAST.
Bibiani Goldfields (Ltd.) .
Broomassie Mines (Ltd.) . ’ * ’ ’
Prestea Block A (Ltd.) .
Tarquah Banket West (Ltd.) . .
West African Trust (Ltd.). (Sefwi) .
Secretary, Gold Coast Exploration Co .
Tarquah Trading Co .
Total for Gold Coast .
Pounds.
4. 135
87,782
22.000
1,866
16
252
364
£ s. d.
24,322 0 0
4,861 19 1
650 16 6
329 10 3
135 10 0
0 10 0
10 0 •
116,415
30, 310 5 10
ASHANTI.
Ashanti Goldfields Corporation (Ltd.)
Grand total Gold Coast Colony. .
43,609 1,082 00
160,024 31,392 5 10
His Majesty’s Customs,
Victoriaborg- Accra, January IS , 191.3.
MADAGASCAR.
1, 2 (a and 6), 4, 5, 9, 10, and 11. There is no mint and no coinage of gold and silver
in Madagascar; only the regular French currency is used.
*******
7. Approximate stock of gold and silver coin in the country on December 31, 1912:
Classification.
In public
treasuries.
In banks.
In circula¬
tion.
Gold coin .
$('>8, 117. 42
2.402.882.73
Bilver coin .
$579,000
57.141.00#
Total .
2.471.000.15
579,000
7, 141,000
- p - . - — —
8. There are no local government or bank notes issued.
12 (a). Imports and exports of gold and silver during the calendar year 1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bullion.
Bullion.
Ore.
Coin.
Bullion.
Coin.
England .
$337
176,209
Vronpfl .
si, 080, i73
5779
5772,000
$37,371
521,246
347
2.895
7,252
5,79#
193
946
193
5289
Total .
170.546
289
1.680.173
779
779, 445
38,510
30,278
221
OPERATIONS OF THE MINT SERVICE.
EAST AFRICA.
LouRENfo Marquez and Beira.
1, 2 (a), 3, 4, 5. 10, and 11. None.
2 {b). Coinage for this country is executed in Portugal. Information as to character
and amount of same is unavailable here.
*******
7. Approximate stock of gold and silver coin in the country on December 31, 1912:
Classification.
In public
treasuries.
In banks.
Gold coin .
$849,072
07,507
$1,138,491
202, 188
Silver coin .
8. Bank notes outstanding at the end of the year 1912:
Item.
Notes out¬
standing.
Gold hold¬
ings.
Legal-
tender
silver
holdings.
Banks of issue .
SI, 229,3*8
$039, ass
$75,005
9. Premium on gold during 1912: Highest premium, 14§ per cent; lowest premium,
10 per cent; average premium, 12J per cent.
12 (a). Imports and exports of gold and silver during the calendar year 1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Ex¬
ports.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Coin.
French ■nossessinris
$5,400
$22
20
Great Hritain
*72,900
$7,992
204. 128
254
Portuguese possessions.
Rhodesia
319.292
147,237
270, 783
3,428,402
24,300
$47,087
$220,217
$134,277
$53,423
$491
2,000
19
580
Total .
392, 192
226,217
134,296
3.876, 182
53, 423
48
212, 374
1,071
49,687
ZANZIBAR.
1, 2 (a and b). None. No mint.
3 4 5 6 7, 10, and 11. None.
8 Government notes outstanding at the end of the year 1912:
Notes.
Notes
outstanding.
Gold
holdings.
LegaMender
silver
holdings.
Rupees.
1 kOa non
£5.000
Rupees.
1,025,549
222
REPORT OF THE DIRECTOR OF THE MINT.
9. There is no premium on gold. The actual currency of the country is the rupee
(a rupee is equivalent to Is. 4d.). 1
12. (a) Imports and exports of gold and silver during the calendar year 1912:
Classification.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
•
Coin .
Rupees .
410, ,554
14,500
Rupees .
993,438
Rupees .
Rupees.
Bullion .
1,019
3,336
Total .
425,054
993, 438
1,019
3,336
Detailed statistics not available.
Notk.— All questions but No. 12 answered by the financial member of the Zanzibar council, the one
best qualified to answer them.
SOUTH AFRICA.
Transvaal.
1, 2 (a and 6), 4, and 5. The Transvaal Mint has not been worked since the British
occupation of that Province.
*******
7 and 8. Approximate stock of gold and silver coin and bullion in the country on
December 31, 1912, and Government and bank notes outstanding at the end of the
year 1912. No statistics are available, except as in the annexed statement, which
contains all available particulars.
Natal Bank (Ltd.): £ s
. 701,011 00 0= $3,414,389.43
§,U' . . . . 55, 954 00 0= 272, 300. 00
Goldbuilion .... . . 145,101 00 0= 700,425.50
Notes outstanding (own bank) . 117' 207 00 0= 570, 679. 35
N. B.— The Natal Bank (Ltd.) laws provide that specie equal to at least one-third in value of the prom-
issory or bank notes from tune to time in circulation shall alwavs be retained in the collers of the bank
at the oikce where they are respectively made payable.
Netherlands Bank of South Africa: £ s
Gold coin . 79, 539 00 0= $387, 070. 00
Silver coin . 9*251 7 0= 45 021.50
Notes outstanding (own bank) . 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 23! 109 10 0= 112^ 402. 22
°Jy holdings against bank-note issue . 79,539 00 0= 387,070.00
Stellenbosch District Bank (Ltd.):
Gold coin . 1,420 00 0= 0,910.00
Silver coin . ’399 9 0= 1 900.12
Notes outstanding (own bank) . 1, 820 00 0= 8, 857. 00
N. B. This bank has no branches, nor does it hold gold coin, bullion, etc., to cover its note issues.
Standard Bank of South Africa (Ltd.): £ s $
Gold silver, and bronze coin . 3, 749,912 12 5=$18, 248,949. 75
Gold bullion . . . . 109, 425 13 3= 532, 519. 48
Notes outstanding (own bank) . 1 177 2Q1 00 0— 5 729 285.86
National Bank of South Africa (Ltd.): . ' ' ’ '
Gold, silver, and bronze coin—
On hand with bankers . 2,384,278 16 1= 11,G03,091. 84
Remittances in transit . . . . . 689 303 6 1= 3 354,49 4.02
At call and short notice against securities . 1 154 220 16 2= 5 617 044.12
Gold bullion on hand and in transit . . * 241 ’ xru iq 1 1 = 1’ 1 m* 470 50
Notes outstanding (own bank) . I"::""::;; 810,’ 245 00 0= 3,’ 9431057. 29
African Banking Corporation (Ltd.): 1 1
Gold coin . . . 640,509 00 0= 3,117,037.04
Silver coin . . 38, 005 00 0= 184, 951. 33
Notes outstanding— ’ ’
Cape of Good Hope legal tender . . 213, 086 00 0= 1, 036, 982. 51
Other issues in the Union of South Africa . r7 ooo m n— 917 71
Gold holdings against bank-note issue . . . fun’ m n— ^ 117*037 04
Silver holdings against bank-note issue . . 38 005 00 0= 184* 951- 33
. 9;^Pre^UIo\on g0,d during 1912: N<> statistics available. Silver is legal tender up
to 40 s. ($9.73); copper to Is. (24 cents).
10. No new laws were passed in 1912.
available ^ Mine®’ Department report trill be forwarded as soon as
OPERATIONS OF THE MINT SERVICE. 223
12. (a). Imports and exports of gold and silver during the calendar year 1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Bul¬
lion.
Coin.
Bullion.
Ore.
Coin.
Bul¬
lion.
Coin.
Ore.
United Kingdom .
$>74, 296
121,662
49,711
48,665
$4,112
$3, 949
$186, 592, 831
$2,020
$653. 551
28, 226
4, 949
3,407
$16, 692
$10, 740
$13, 270
Australia .
Southern Rhodesia .
574, 734
29, 199
146, 044
497, 843
6,326
17,811
115, 020
12, 166
Northern Rhodesia .
British East Africa .
India .
Ascension Islands.
Mauritius.. . .
Portuguese East Africa. . . .
Portuguese Africa .
3,384,i64
9, 499
Belgian Congo .
19, 466
2, 876
12. 166
1,426
Germany .
, 14
United States. . . .
136
Total .
4, 178,498
4, 248
1,301,248
186, 592,831
2, 020
699, 632
16, 706
151,518
13, 270
LIBERIA.
1, 2 (a and b), 3, 4, 5, 8, 9, 10, 11, and 12 (a and 6). None.
*******
/. Approximate stock of gold and silver coin in the country on December 31, 1912:
Classification.
In circula¬
tion.
Gold coin 1
Silver coin. .
$25. 000
25,000
Total. . . .
1 Liberia has no gold coins of its own. English, American, and German gold circulates here at the fol¬
lowing rates: English pound sterling (20 shillings), $4.80 (fixed); French, 20 francs, $3.72 (fixed); German,
20 marks, $4.06 (fixed).
Note.— It would seem that most of the questions upon which information is sought do not apply to
Liberia, and very meager data is available concerning those which are pertinent. I am returning the
interrogatories with a few notes made therein by the Liberian Secretary of the Treasury.
AUSTRALIA.
Commonwealth.
1. Amount of gold and silver coined during the calendar year 1912:
Gold, new coinage:
Sovereigns .
Half sovereigns.
Total .
Silver, new coinage:
Florins .
Shillings .
Sixpfinco's .
Threepences. . . .
Total .
Donominat ion.
Pieces.
Value.
9, 424, 401
278, 000
£ 9 , 424. 401
139,000
9. 702, 401
9. 563. 401
896,000
390, 000
576. 000
L336,000
3,198,000
1 140,200
« Australian coin, coined at tho Royal Mint, London.
224
REPOST OF THE DIRECTOR OF THE MINT.
2 (a), 3, 4, 5, 9, 10, and 11. None.
2. (6). Silver and bronze coins coined at the Royal Mint, London.
*******
7. Approximate stock of gold and silver in the country on December 31, 1912:
Classification.
In public
treasuries.
In banks.
In circula¬
tion.
Gold coin .
£4, 465,339
» £25,993,5S5
1,040,207
Gold bullion .
Silver coin .
Silver bullion .
Total .
4,465,339
27,033,792
1 Including silver. * No reliable estimate.
8. Government and bank notes outstanding at the end of the year 1912:
Items.
Notes
outstanding.
Gold
holdings.
Government .
£10,012. 275
425,478
£4, 465,330
(l)
Banks of issue .
Total .
10, 437,693
4, 405,339
1 No sum specially allocated as reserve against notes.
12 (a). Imports and exports of gold and silver during the calendar year 1912:
GOLD.
Country.
Imports.
Exports.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Ore.
Matte.
United Kingdom .
£45
£448
£381, 172
7,107,355
25,000
615,053
1,273.280
290, 000
75,000
27,587
400,000
25,000
£506,207
96,632
£56,077
£313, 192
Ceylon .
Fiji Islands .
1,000
Hongkong .
1,374
797,655
India .
New Zealand .
243,362
1,072, 480
£13,875
..........
.
South African Union .
China .
Germany .
19
911
932
1,103
3,076
15,632
Dutch East Indies:
Java .
Celebes .
Timor .
900
729
5.S00
3,000
9,419
150
22, 644
Kaiser Wilhelm Land . . . .
Pacific Islands:
Marshall Islands .
New Caledonia .
Now Hebrides .
330
New Pommern .
South Sea Islands _ _ _ _ _
Papua .
50, 758
259
5,419
United States .
5
143,337
Straits Settlements .
177,292
677
260
180
10,372
Belgium . .
650
353
Holland .
Italy .
1,277
Total .
.
244, 737
1,125,807
19, 294
10,440,058
1,403,621
69, 970
473,791
OPERATIONS OF THE MINT SERVICE
225
SILVER.
Country.
Imports.
Exports.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Ore.
Matte.
United Kingdom .
£267,363
£6,418
£14,003
1,136
5,800
100
363
351
707
2,792
12,285
£73, 782
£43,713
£216,722
CAutb A frioori TTnirvn
New Zealand .
i £2,063
163
60, 500
56, 200
190,225
Prance
Germany
10,000
5
7,046
Pacific Islands:
TqIatiHq
South Sea Islands ....
PottI rvT»
251
247,658
61
258,715
Piii T^land<»
Tndia
United
78
24,627
30
900,291
37, 498
6,959
374
Total .
. 277,614
6,496
2,063
37,537
580,384
1,288,457
255, 728
1 Includes silver-lead ore and concentrates.
NEW ZEALAND.
1, 2 ( a and b ), 3, 4, 5, 9, 10, and 11. None. There is no mint in New Zealand.
******
7. Approximate stock of gold and silver coin and bullion in the country on December
31, 1912:
Classification.
In banks.
£ s. d.
5,093,696 13 3
144,070 6 6
viola and silver coin ana otner coiiiea . .
5.237,766 19 9
8. Bank notes outstanding at the end of the year 1912: Banks of issue, notes in
CiU (“^pJrtsa^fex^ri. of gold aud .liver during the calendar year 1912:
Country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin.
Coin.
Bullion.
Ore.
Coin.
Bullion.
Coin.
Bullion.
Ore.1
United Kingdom .
New South Wales .
£150,666
140,000
£235
236, 770
£380,530
317,765
621,577
£13,895
135
11,257
£101,520
30
100
1,100
£267
106
£42,941
926
£1,837
431
Western Australia . .
£id,5bb
1,400
Fiji Islands - , . .
10,000
Friendly Islands .
38,604
Total . 2W’000
247,005
1,319,8?2
25,287
102,750
373
11,900
82,471
2,268
■ t ,,.i„rips concentrates, slimes, tailings, and similar substances, and jewelers’ sweepings, precious metal
scrap, an'l similar substances.
Gold and silver entered for export from New Zealand for the year ended December
31 1912, as follows: Gold, 343.163 ounces, equal to 10,673.81 kilograms, valued at
xi, 345, H5. Silver, 901,165 ounces, equal to 24,919 kilograms, valued at X84.739.
24950°— 14 - 15
PART II.
REPORT OF THE DIRECTOR OF THE MINT ON THE PRODUCTION OF
THE PRECIOUS METALS IN THE UNITED STATES
DURING THE CALENDAR TEAR 1912.
REPORT ON THE PRODUCTION AND CONSUMPTION OF GOLD
AND SILVER IN THE UNITED STATES DURING THE CALEN¬
DAR YEAR 1912.
The official estimate upon the production of gold and silver in the
United States is made by the Bureau of the Mint and the Geological
Survey working in conjunction, the latter making a mine canvass in
each State and the former working backward from mint deposits
through refineries, smelters, and other reduction works to the figures
of the mine production made by the survey. The two systems thus
verify and support each other. . , . .
The gold production of the United States, including its insular
dependencies, for the calendar year 1912 is estimated to have been
$93,451,500 and the production of silver is estimated at b3,7bb,suu
fin© ounces
Theoutout of gold fell $3,438,500 below that of 1911. The entire
decrease was more than accounted for by the decline m the S a e o
Nevada, which alone was $4,521,200. This faffing off nearly all
occurred in the Goldfield district. The production of silver was
3,367,400 ounces higher than in 1911, gams appearing in all the
important producing States except Idaho. Utah made the largest
The best prospect, since the opening of the Cripple Creek district
in Colorado /for the development of an important new gold-producing
district in the United States is believed to now exist in southeastern
Alaska upon an extension of the formation upon which the famous
Treadwelf mine is located. A steady increase in output from this
localitv is certain for some years to come and is likely to place it at
A brief reviel of Sg londitions in each State follows, for
which acknowledgment is made to the Geological Survey.
ALASKA.
About 29 per cent of the production of Alaska came from placer
• „nd most of the remainder from auriferous lodes, mainly from
S,me^readw”u group of mines. The gold yield from the Pacific
eoastbelt of Afaska increased, but declined from the A ukon Basin
»ud from northwestern Alaska. There was a considerable fading
ffin the gold output of Fairbanks in spite of the fact that some
1,1,! mining has developed. The increased gold output m Alaska in
1912 was due mainly to the increase in the output of the lode mines
f fhft Pacific coast belt. .
Thirtv-nine dredges were operated in Alaska in 1912, compared
ith 24 in 1911. Of these 3 are in the Fortymile district, 1 in each
of the Fairbanks, the Birch Creek, the Iditarod, and the Kenai Pen¬
insula districts, and the rest on Seward Peninsula.
229
230
REPORT OF THE DIRECTOR OF THE MINT.
ARIZONA.
The mines of Arizona in 1912 produced $331,707 more in gold «n i
213,816 more ounces of silver than in 1911. Of the total gold output
nearly two-thirds was contained in the dry or siliceous ores and about
one-third m the copper ores. Only 3£ per cent was from lead ores
nearly 2 per cent from zinc ore, and slightly over 1 per cent from
placers. Exactly 56 per cent of the gold was recovered in bullion
at gold and silver mills, while at the smelters 36.8 per cent was con-
tamed in crude ores smelted and 5.6 per cent in concentrates. Of
the bullion yield at gold and silver mills about nine-tenths was
recovered by the cyamde process and the remainder by amalgama-
tloi1* f be largest production of gold was made from the Tom Reed
and Go d Road properties in Mohave County, and with other sold
mines the county was recorded as producing half of the State total
Copper ores mined chiefly m the Warren district of Cochise County
and siliceous ore from the San Francisco district in Mohave County
were the chief sources of gold. The heaviest decrease of gold was in
^nrnJvC0Unny’ d.UGiarg? y- t0 the closiug of the Congress mine,
bounty the closing of the King of Arizona and Golden
pi" ™ T3' M°-her deSJTes occurred in Gila and Pinal Counties.
Placers in Maricopa, Mohave, Pima, Pinal, Yavapai, and Yuma
Ofnfl ^eMed j^43,046 in gold as against $23,641 in 1911.
orp<3 in°ro° sllvor. output 68.14 per cent was contained in copper
Bullion ni A^er CAent, m1slllc°ous ore, and 17.16 per cent in lead ore.
silver?^ 1 q 1 9°edA d anid sllver miUs yielded 1.3 per cent of the
cent ami i fmelters crude ore smelted yielded 85.4 per
cent and concentrates 1 1 per cent of the silver total.
producer ml Wpl??? bl any of its former records as a copper
pounds 1 d a States ln 1912 ^th a production of 365,038,649
mciuSLTh»V° smelting P,lants operating in Arizona in 1912,
Counted tt.^5 C-0p?,Pn p*ants at Corwin, near Tucson, in Pima
operating .omAf *li!n ^1]l a County, '['here were 68 milling plants
entire vear TwcntJ '*• ?,ant.s b,r on'y a short period, others the
11 amalgamation Fse<* the amalgamation method,
cyanidation Finhr concentration, and 1 amalgamation and
concentration 3k T stVlght cyanide miUs and 16 were straight
om by 4 opemtms ArraStrCS WCTe used *>» quantities of
CALIFORNIA.
l,o“talm£h,g p^ert^Snrodr/t9alifon?a show that thpre wre
deep mines and 509 we?e 5EJE )dVctlv® ln 1912> of which 532 were
producers than in 1911 k,?+ +i6rs vari°us kinds. This is 140 less
which development workbwL te Wjre about WO other mines on
Of the producing delp mil? 4?n g done’ bllt which had no output,
silver-lead-zinc, and Tzi™ gold’ 24 copper> 12 silver’ ?5
mines, 65 dredges 146 drift Yv plw5ers operated were 141 hydrauhe
were 31 counties of the St«t« P1/1’3’ ai}d ^57 surface mines. There
productive of these were A^Idn? Pv,duced £old in 1912. The most
> "ba> *2,753,408; Butte $2 34R » vgol‘! ou,Put «f *2,796,194;
niento, $1,712,587: and TlinWd?29 > Nevada» *2,081,958; Sacra-
leads in both yield from deeo miu^tf’ *!»! 13,291. Amador County
^ rom deep mines and also in total gold output for
PRODUCTION OF THE PRECIOUS METALS. 231
the year- The largest yield from placers— $2,740,752— was in Yuba
County this, coming mamly from dredging operations. The leaZg
hydraulic mining county was Trinity, the giiatest producer of gold
from drift mines was Placer, and Yuba excelled in both dredge and
The deep mines of California produced $2, 422, 152 more gold than
the combined placers in 1912, the proportion of gold to the total
yield being 56.14 per cent from the deep mines and 43.86 per cent
from the placers. Of the total placer gold, the dredges produced
85.93 per cent; the hydraulic mines, 7.98 per cent; the drift mines,
4.49 per cent; and the surface placers or sluicing mines, 1.60 per cent.
It is to be noted that the dredges yielded 37.68 per cent of the total
gold yield of the State in 1912. feince dredge operations on gravel
beds began in California in 1899, these machines have dug out gold
valued at $55,415,191, including $7,429,951 from this source in 1912.
The deep mines of the State produced a few hundred thousand
dollars more hi gold in 1912 than in 1911, but the placers, especially
the dredges, produced somewhat less, so that there was little differ¬
ence in the gold output of the two years. In general, the gold-
mining industry remains in about the same condition it has for several
years, the annual average yield being about $20,000,000. Some of
the old lode mines which were given up as unprofitable 20 or 25 years
ago are being unwatered and reopened under the present cheaper
mining and milling conditions. No new large dredging fields have
been found, and those in Yuba, Butte, and Sacramento Counties con¬
tinue to be the most productive. In fact, the dredging industry
shows some falling off in yield for the year.
The only matter of note in deep-mining operations is that litigation
has caused several of the most important 'quartz mines to take steps
to impound their tailings, as the hydraulic mines are required to do
in certain counties. This action is taken to prevent pollution of
streams into which these tailings have been allowed to escape.
Another matter, also in the nature of a restriction connected with
mining and affecting the gold and silver output as well as the copper,
is the^continued agitation against the escape of deleterious smelter
fumes which injure vegetation. All but one of the large smelters in
Shasta County have been compelled to close down entirely, and the
output of others in the State lias been curtailed in the attempt to
lessen the injury complained of.
The deep mines of the State made an output of 2,641,497 tons of
ore m 1912, which is somewhat less than in 1911, mainly for the reason
slated in connection with smelting operations. The 2,225,429 tons
of siliceous ore yielded an average of $4.95 in gold and silver per ton.
The average yield of gold and silver per ton from copper ores was
$1 91 from lead ores $24.18, and from zinc ores $2.59. The average
value’ in gold and silver per ton from all ores worked in the State in
1912 was $4.49, while the value of all the metals in ore sold or treated
was $6.71 per ton. There is very little change in these average values
per ton from year to year in California. The principal deep-mining
region of the State is in the so-called Mother Lode counties, and the
averages in that section are of interest. Amador County mines treated
073, 498 tons of ore, which yielded an average of $4.11 per ton in gold
and silver, mainly gold; Calaveras County, 371,568 tons, averaging
$1.88 per ton; Eldorado County, 8,871 tons, averaging $4.90 per ton-
232
REPORT OF THE DIRECTOR OF THE MINT.
Mariposa County, 18,743 tons, averaging $8.36 per ton; and Tuolmrm
County, 227,308 tons, averaging $4.94 per ton In Nevada Coum
which is not on the Mother Lode, but which is the only countv 3’
from Amador which produced over $2,000,000 from deep minefi!
1912, the 270,134 tons of ore milled yielded an average of $7 62 ner
ton in gold and silver. There are now in California 1 90 active redEr
tion mills, with 145 crushers, 2,963 stamps, 21 roller mills 3 tnh«
mills, i 52 concentrators, and 30 cyanide plants, having a combined
capacity for treating 12,267 tons every 24 hours. d
COLORADO.
The yield of the metal mines of Colorado for 1912, as compared
with the output in 1911, showed a comparatively small decrease in
the output of gold, an important increase in the yield of silver an
appreciable decrease in the vield of copper, an appreciable increase
m the output of lead, and a heavy increase in the yield of zinc,
i f he smeltmg situation in 1912 in Colorado remained as it was at the
close of 1911. The Globe, Leadville, and Pueblo plants were operated
continuously, but, as has been the case for several years, not at full
capacity. The Durango smelter, temporarily closed in November,
1911, was reopened in the spring of 1912. The Salida smelter was
e n<? y operated. An increased tonnage of complex zinc ores from
anid °.the/ Western States was treated at the United States
Pueblo. The semipyritic plant at Golden, closed
• i ^°Ut£ut C.riPPle 9rtyk in 1912 showed an increase of $445,709
.vT? 7uamag? .of ther mmes by the Roosevelt Drainage Tun-
of sbafts several hundred feet, with the
rmrrma the \ indicator and Golden Cycle mines, where electric
§ P Q /e .stalled. ^ greatly increased tonnage of low-grade
InZp^l^Tp °r+f Tre ^reaJed 111 tke district, at the Stratton’s
liip-b pr-ornrlo ’ °rtland, and other cyanide mills. Shipments of the
also ft/inor ores. f° smelters showed a small increase in tonnage and
custom +m a7era?e content of gold, but the toimage to the
chlorinatimfnl^1! Slfin?s showed a small decrease. The
to a cvanide nl mt ° lof i P°rt]an? plant was gradually transformed
Reduc\?ond^ m 1911 and with the closing of the ‘United States
of chlorinaHon^t^f ° mSHdnrinatl,on plant at the end of 1911, the use
Lake^Countv fcWfllUT°f ?0?/Tl0 was supplanted by cyanidation.
witlTsmalf decreases in^the^uantHv of ^ 1° •lncre®se^ tonnage,
decrease for rmmn,. i,* e ^uautity ot gold and silver, an appreciable
34 335 327 Yound, ’nf ‘if*1 «f 7,735,155 pouAds ollead and
countv of S3 636 370 W15 l a total increase in value for the
“aluo of output , 9’ Placu,g Lake C°™ty as first in rank in total
Miguel Counties ^ombWi£i?10S’ -Plata, Ouray, San Juan, and San
except gold for which the™ ,tkowe<? mcreased ydelds of all the metals,
alone sKng a dtt^e of *90? ^rea^ of *916-419. Ouray County
$151,546 in <rold from T a Plf+n368* There was als» a decrease of
from San S coZv 9i°Unt7’ but an increase of $187,11
milled from the Camn Si rH t ^rea.dy reduced tonnage was mined and
6 L amP Bird mme» ui the Sneffels district, Ouray County.
PRODUCTION OF THE PRECIOUS METALS.
233
Boulder County showed a heavy decrease of gold, but increases of
silver and lead. Clear Creek County showed a decreased yield of
gold, silver, and copper, but increases of lead and zinc. The Lower
Clear Creek mines showed a small decrease for all the metals and
Upper Clear Creek mines showed increases in quantity of gold, lead,
and zinc, but decreases for silver and copper, with an increase in total
value. Gilpin County showed an increase for all the metals, with an
increase both in bullion and material smelted. The Pitkin Countv
(Aspen) yield of lead decreased, but the output of silver increased,
and a considerable yield of zinc was made. The Summit County
gold output from dredge operations increased considerably, and the
yield of zinc increased heavily. This county ranks second in zinc
yield. In Eagle County there were material increases for all the
metals, particularly for zinc.
CENTRAL STATES.
The production of silver in the Central States in 1912 was 568,000
ounces as compared with 550,000 ounces in 1911. No silver oies are
mined and the silver is recovered incidentally to the production of
copper and lead. Of the 1912 output 528,000 ounces came from the
copper lodes of Michigan, 35,000 from the lead ores of southeast Mis¬
souri. and the remainder from the lead-fluorspar deposits of the lven
tucky-IUinois region. The lead concentrates from southern Illinois
in 1912 averaged 6.31 ounces of silver per ton.
IDAHO.
The output of gold, silver, copper, lead, and zinc in Idaho in 1912
was valued at over $21,000,000. The principal increases were in lead,
zinc and copper, but no great change was made in either gold or silj er.
zinc, anucoppei, : ^dually decreasing in the State, while gold
Som n?a“em grated by dredgJs is decidedly increasing. The ore
trom placeis^opeid, J ov|r 2,000,000 tons. The largest part,
nnned increase g^ J ^ cent was zinc ore and lead-zinc
or 70 per cent, w< , W.1S <diiCeous ore, and 4.3 per cent was copper ore.
ore, nearly 4 per cen ;^esf^e°c"S ore andWzinc ore.^Of the
hiT‘d?e^,?.?cLt came from siliceous ore, 3.05 percent from copper
g0U’547fi r,?r cenffrom lead ore, and 45.75 per cent from placers.
Out of 59 milling plants in operationin Idaho, 10 used amalgamation
Out ot 5 J °*lntration, and the remainder used a combmation of
8 cyanide, 21 c e For ty_eigilt per cent of the gold in bullion was
several piocc 52 per cent by cyanide. There was not a
won by ama » gilver output, as the ratio of silver to lead m lead
great incre ' . and iead ore is the main source of silver 111 Idaho.
Kus^re contained 2.8 per cent of the silver; copper ore, 5.44 per
Siliceous g5 42 per cent. and zinc ore and lead-zinc ore, 6.18
eent; m Tliere were 5 dredges in operation— 2 in Boise County, 2
PerT ^ndii County, and 1 in Custer County. Those at Elk City were
“u. The output from these active boats was much greater than
it of 1911, and since another boat is to be built in Lemhi County
there is promise of further increase. Only one smelting plant was
operated in the State at Clayton in Custer County.
234
REPORT OF THE DIRECTOR OF THE MINT.
MONTANA.
Increases were made in silver, copper, and lead, but gold and zin
decreased in Montana in 1912. The gold yield was $85,336 less and
silver 746,442 ounces greater than in 1911. Copper ores produced
mainly in Silver Bow County contained 19.5 per cent of the "old and
the dry or siliceous ores 56.3 per cent, largely from Fergus and Blaine
Counties (the latter formerly Chouteau) . Placers were credited with
22 per cent, the larger part of the yield being from Madison County
followed by Lewis and Clark County. At gold and silver mills
bullion was recovered containing 28.66 per cent of the gold, 5.32 per
cent was the result of amalgamation, and 23.34 per cent cyanidation.
Amalgamation of the gold was the general method employed in nearly
all of the counties, and the cyanidation process wras chiefly made use
of in Blaine and Fergus Counties. Crude ores shipped to the smelters
contained 30.6 per cent of the gold and concentrates smelted 18.4
pei cent. The total output of silver in Montana, which wras second
m production to Nevada in 1912, aggregated nearly 13,000,000
ounces, of which over 83 per cent was from copper ores, 10 per cent
from dry or siliceous ores, 2 per cent from lead ores, and 3 per cent
fi om zinc ore. The largest increase of silver was made in Silver Bow
County, which is credited wdth a production of over 11,000,000
ounces, or 89.16 per cent of the total silver. Silver recovered in
bullion at gold and silver mills represented a little over a half of 1
per cent of the total and was extracted in largest quantity from ores
treated by the cyanidation process in Blaine ana Lewis and Clark
Counties and by amalgamation in Lewis and Clark County.
NEVADA.
There were increases in all metals excepting gold in Nevada in 1912.
Again, as in 1911, there were record productions of silver, whose total
surpasses the output of any other State for 1912. Of the total gold
output slightly over 93 per cent was extracted from dry or siliceous
ores, 3.6 per cent from copper ore, 1 .2 per cent from lead ore, and 1 .7
the rT,h? lar?est decrease of gold was made by
the mines in the Goldfield district of over $4,000,000 in 1912, to wdiich
Soo^no W ?h* t.he decrease of Humboldt County, with nearly
?n0(M0^ 1 l ^ ™ Ji1’ due ]ar?ely to the diminished output of
o oof/ooo ie^>ota S^ld production, amounting to over
|13, 000, 000, three counties, Esmeralda, Nve and Humboldt vielded
from the mines over $11,000,000 Bnllirm Q Wum j ’ ^
mation and 68.3 percent by ‘th^jJSd^ll T*8 8aYed
smelters 5.68 per cent was con tai.red i “rude ,whdf -at
centrales 9.73 per cent. The lamest 2 ,! smelted and in eon-
ToTopXGOldLd C0n9“ ^ldHuatendt
1 ®0oSE2!’ Of'lhFs outpu?9iPF0duCtion for 1912 of ,over
siliceous ores, the largest part orimmo;?^*061^ w^s Pr°duced from
Belmont Mine at Tonopah, with Hip T8 m ^ye pounty from tlio
i in the lonopali Mining Co. a close
PRODUCTION OP THE PRECIOUS METALS.
235
second, followed by 13 other properties. About 70 per cent of the
silver was recovered in bullion at gold and silver mills where nearly
all of it, or 69 per cent, was saved by cyanidation and the remainder
by amalgamation. The two counties having the largest yield by
amalgamation were Humboldt and Nye Counties; by cyanidation,
Nye County with over 8,000,000 ounces, followed by Churchill County
with 1,250,799 ounces. Smelting plants recovered from Nevada
crude ores 10.7 per cent of the silver and from concentrates 16.01
per cent of the total silver.
NEW MEXICO.
In 1912 the output of all the metals in New Mexico increased.
Copper showed the greatest increase, from 4,057,040 pounds in 1911
to 34,030,964 pounds in 1912. The zinc output also increased 33 per
cent, and the production of silver increased over 13 per cent in quan¬
tity. The yield of lead was almost twice that of the 1911 yield. Gold
increased slistitly
The Mogollon district, Socorro County, 80 miles from the nearest
railroad, at Silver City, is the most important district in New Mexico
in the output of gold and silver. The production in 1912 ot $524,858
for gold and 1,093,158 ounces of silver shows little change from the
1911 yield, which was 1| times that of 1910. The ore is siliceous,
oxidized, and sulphide, with very little base metals, carrying (in 1912
in terms of recovered metal) 0.2505 ounce, or $5,178 in gold per ton,
and 10.78 ounces, or $6.63 in silver. All the ore is milled in the dis¬
trict, bv concentration, sliming, and agitation and percolation m
evanide solution, the bulk of the product being cyanide precipitates,
with a few cars of high-grade concentrates. There are 5 mills m the
district (3 operated almost continuously, 1 operated part of theyear,
and 1 idle in 1912), with a possible gross capacity of 500 to 600 wet
tons per day, and an actual tonnage treated for 1912 of 290 wet tons
per day. The auriferous pyritic quartz veins of White Oaks, Lincoln
County, have yielded a large quantity of gold, but there was a small
decrease in the yield for 1912. The ore is chiefly amalgamated,
cyanidation being used occasionally. The Elizabethtown district,
Colfnx County in point of total production one of the leading mining
r -ktI’ Moxico. both from placers and lode mines, continued
to beVe Simponant placer Strict in the State After the
Moeollon district, the second gold and silver producing district is the
T mSshurg district, Grant County, fissure veins ill that district yield-
’ ' 1912 increased shipments of siliceous gold and silver, bearing
m£ and dry ores. (The low-grade copper deposits of the Chino
copper ^ at ganta Rita, carry practically no precious metals.)
Uopper ^e(1 and sulphide ores ot gold and copper of the JariUa
rTt'ct near Orogrande, Otero County, again yielded an increased
Id output, and placer operations also yielded an appreciable quan-
?' tv of sold/ The reopening in July, 1912, of the mines and smelter of
tie Santa Fe Gold and Copper Mining Co., at San Pedro, Santa Fe
County, resulted in a considerable yield of gold and silver in the matte
vi elded in tlie smelting of the copper ores of this property. The ton-
,ulcre of the base ores of the Las Animas district, near Hillsboro,
chiefly sulphides of copper carrying gold and silver, decreased heavily’
236
REPORT OF THE DIRECTOR OF THE MINT.
although the small output of gold from dry placers in this district
was nearly twice that of 1911. Lead and iron concentrates from the
lead-zinc ores of Magdalena furnished some silver.
OREGON.
The State of Oregon showed quite a material increase in the value
of its metal output in 1912 as compared with 1911, that of gold alone
being $136,634. This was the first time in several years that the
State has showed an increase in the value of its mineral products.
There were 34 more productive mines reporting than in 1911, but the
tonnage of ore treated was less. Of the 210 producing mines 54 were
deep and 156 were placers. Of the placers 102 were hydraulic mines
8 drift mines, and 46 sluicing or surface mines, and of these the
hydraulic mines alone show an increase of output in 1912. The
hydraulic mines yielded $151,130 out of a total gold production from
placers of $189,096 for 1912. Josephine and Jackson Counties are
the source of most of the placer gold, Josephine being second in rank
of gold-producing counties of the State and the leader in placer gold
output. From the deep mines 90,945 tons of ore were mined and
treated, and this ore was of a much higher average value per ton than
the ore treated in 1911. There was an increase of $130,849 in gold
occasioned by this increased average value per ton, which was the
mam reason that the gold yield shows so much of an increment for
1912. The largest producing county of the State in 1912 was, as
usual, Baker Comity, which showed an increase in gold output of
$94,255 over that of 1911. The gold yield of this county in 1912 was
$484,041 from 49 producing mines. The average value of the
siliceous ores milled in this county was $7.76 per ton in gold and silver,
but the ores shipped to the smelters yielded $118.93 per ton. The
production of the deep or more permanent mines of the State is each
year exceeding that of the more easily exhausted placers, although at
one period Oregon was best known for its placer yield. The north¬
eastern counties of the State are much more important producers
man the southwestern counties (although the latter are supposed to
a contmuation of the very productive California gold belt),
which tor over 50 years, during the preponderance of the placer-gold
^n^nig, yielded a considerable proportion of the gold from Oregon.
whSn^11!!7 outkut ?f Laker County, m northeastern Oregon,
_ m&kes the production of the counties in that region the more
Lkpp Ornnlr n northeastern Oregon the producing counties are
Ql feS Malheur, and Wheeler, but Baker County contributed
modSon nf Ori6 t0tal y\e d of these counties in 1912. The silver
ores with « a6out 50,000 ounces, mainly from siliceous
There were 2Q the placers, copper ores, and lead ores,
ers 312 st T.nnf Ti reductlon mills in Oregon in 1912, with 27 crush-
plants ~ The /Jr,,’ i • 1i°dei nulls, 80 concentrators, and 8 cyanide
1 099 tons while th^6^ cap.acit-£ °[ the active plants in 24 hours was
1,099 tons, while the capacity of the idle plants was 1,553 tons daily.
237
PRODUCTION OF THE PRECIOUS METALS.
GOLD PRODUCTION OF PHILIPPINE ISLANDS.
[Daily Consular and Trade Reports, March 10, 1913, from Report of Division of Mines, Bureau of Mines
Manila.]
The following table shows by Provinces the gold output for the
three years 1909, 1910, and 1911:
%
Province.
1909
1910
1911
Ambos Camarines .
$108,350
128.200
$72, 450
47,980
$90,000
33,203
35,250
22,500
Mountain .
Sorsogon (Masbate) .
All other .
11,047
34,000
Total .
247,597
154,430
180,953
SOUTH DAKOTA.
The production of gold, silver, and lead in South Dakota in 1912
was the largest ever produced in any one year, the output being
over $200,000 above the previous maximum mine yield in 1908 and
over $450,000 larger than that of 1911.
The Homestake mine, which annually yields the bulk of the gold
bullion from this State, was operated continuously throughout the
year, with a small increase in tonnage, but an appreciable increase
in average value per ton. The published report of this company
shows a production of 1,528,923 tons, with an average value of
$4.31 + per ton and a total value of $6,600,953. The company’s
hydroelectric plant, on Spearfish Creek, which has been under con¬
struction for several years, was completed early in the year and
supplied power to the works.
The tonnage of milling ore from the Golden Reward group, on
Bald Mountain, was equal to the 1911 yield, but an increased tonnage
of crude ore was shipped to smelters. A 75-ton roaster w^as installed
for the preliminary treatment of the sulphide ores before cyanida-
tion The Trojan mill was operated continuously in 1912, against
five months in 1911, with a resultant increase in tonnage treated.
The tonnage from the Wasp No. 2 mine, where steam shovels are
used for extracting the ore, showed a small increase. Because of
the burning of the Mogul null in March the output of the propertv
decreased. After the fire the Mogul ore was treated at the Lund-
berir Dorr & Wilson custom plant, which was also operated on ore
from the Buxton and Bonanza Midget, and Dakota mines. The
Npw Reliance, Victoria, and Black Hills-Standard mills were operated
during a part of the year.
Placer mines m Custer, Lawrence, and Pennington Counties
vnplded a slightly increased output. The most important produc¬
tion of placer gold came from the dredge at Mystic, Pennington
County, with a small increase over the 1911 output.
238
REPORT OF THE DIRECTOR OF THE MINT.
WYOMING.
[From Bulletin 499, “Coal near the Black Hills, Wyoming-South Dakota/' issued by the United States
1 Geological Survey, 1912.)
Ah interesting feature about the Cambria coal is that it is said
to be gold bearing. According to a verbal statement by W. E.
Mouck, superintendent of the Cambria mines, an assay made by the
company’s chemist of ashes from the boiler house showed $10 per
ton and of the sandstone roof of the bed $2 per ton in gold. This
unexpected result led to further investigation, and soot from the
furnace stack was assayed, with the result that it was found to
contain $4 per ton in gold. The coal itself has shown from nothing
up to $2 per ton in gold when the coal was selling for $1 .50. In 1896,
when coke made at Cambria was selling for $3.50 per ton, samples were
taken from 31 cars during a period of three weeks and were assayed
by the company’s chemist. The samples from 31 cars of coke
showed an average of $2.46 per ton in gold and $0.28 in silver. The
following results of these assays were kindly furnished by the Cambria
Fuel Co.:
Gold and silver assays of coke made from Cambria coal .
[Values per ton.]
July 18 .
Do .
July 25 .
Do .
Do .
July 28 .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do . t .
July 30 .
Do .
July 31 .
Aug. 3 .
Do .
Do .
Aug. 5 .
Do .
Do .
Aug. 6 .
Do .
Aug. 8 .
Do .
Do .
Do . .
Do . ,
Average (31 cars),
Date*
1896
Sample
from
Burlington
& Missouri
Gold.1
Silver.1
Total.
River
R. R., car
No.-
3671
$2.00
$0.08
$2.08
3871
2. 40
.12
2. 52
3711
2.00
.08
2. 08
3761
3.60
.00
3.60
3693
2. 40
.13
2. 53
2835
2.80
.30
3. 10
3691
3.20
.40
3. 60
3805
2. 40
.34
2. 74
3887
2.00
.46
2. 46
4013
2.00
. 47
2. 47
2.47
2. 94
4.25
2.86
2. 41
5. 81
3.36
2. 41
2. 34
2.62
2.37
2.00
2.41
2.14
2.43
2. 79
2. 10
2.60
2.16
2.96
2. 34
3801
2.00
.47
3855
2.60
.34
3947
3.60
.65
3871
2. 40
.46
3763
2.00
.41
3695
5.60
.21
1859
3. 20
.16
3761
2.00
.41
3711
2.00
.34
3691
2.20
.42
3859
2.00
.37
3887
2.00
.00
3695
2.20
.21
4013
2.00
.14
3855
2.00
.43
3835
2. 40
.39
3801
2.00
.10
4015
2. 40
.20
3685
2.00
.16
3813
2.80
.16
3671
2.20
.14
O 4^
98
2^74
Z. 4o
1 Valued at $20 per ounce.
Henry C. Beeler, chemist, Wyoming, Aug. 8, 1890.
2 Valued at $0.65 per ounce.
PRODUCTION OF THE PRECIOUS METALS.
239
Smelters at Deadwood, S. Dak., which used the Cambria coke, must
have profited by it, for they recovered not only gold in their ores, but
the gold from the coke also.
Gold was found in some of the coal from the Jumbo mine and the
Antelope mines 1 and 2. The distribution of the gold in the mines
was never determined. There is more gold in the splint and bony
coal than in the best bituminous. It may be associated with pyrites,
which occurs commonly in the splint and “pine needle” coal.
As there are no known dikes or veins within many miles of the coal
mine at Cambria, the gold can not be explained as derived from such
a source. That the gold was introduced in the quiet waters of the
swamp, either in solution or as very fine particles in suspension, and
deposited there by precipitation or by gravity is not impossible nor
yet readily conceivable; first, because it is presumed that the water
discharged into the swamp was comparatively fresh meteoric water
and would not have dissolved gold; second, because drainage in and
around a large swamp is very sluggish. Under such topographical
conditions it is hardly probable that even fine gold would reach and
be distributed in a large swamp. The most plausible explanation
seems to be that the sands which submerged the swamp and now
form the roof of the coal bed were derived in part from old gold-
bearing alluvium. It was noted above that the sandstone roof carries
some gold. Currents which transported the sand and the grit which
occurs in some places a few feet above the coal certainly were strong
enough to transport fine gold. While the sand was being deposited
the gold may have worked down into the underlying bog and is now
found in the coal.
SOUTHERN APPALACHIAN STATES.
The combined gold production of Alabama, Georgia, North Caro¬
lina, South Carolina, Tennessee, and Virginia in 1912 was about $222,-
000, an increase of $63,000, entirely due to the largely increased out¬
put from North Carolina, amounting to $166,000, or more than double
the 1911 yield. The total output from other Appalachian States
declined over 36 per cent. Eighty-six per cent of the gold output
was derived from gold quartz ores, 7 per cent from placers mainly in
Georgia and North Carolina, 4 per cent from copper ores of Tennessee
and North Carolina, and the remamder from lead-zinc ore mined in
North Carolina.
The silver output from the Southern Appalachain States in 1912
declined over 11,000 ounces. Ninety-three per cent of the silver was
derived from the copper ores of the Ducktown district in Tennessee
and 2 per cent from copper ores from Maryland, North Carolina, and
Virginia. The remainder of the silver production was about equallv
divided between that derived from the lead-zinc ores of North Caro
lina and the silver recovered in the refining of gold bullion from eold
quartz ores and placer mines. s 1U
240
REPORT OF THE DIRECTOR OF THE MINT.
TEXAS.
The yidd of silver m Texas, which has always represented practi¬
cally the total precious metal production, showed a decrease in ouan
Mg of over 18,000 ounces for 1912, but an increase in value of $24
000 Tlie gold output was only nominal, the copper and lead pro¬
duction was small, while the zinc ore shipped materially increased
4f owl tlle Sre.ato.r Part of the State’s silver production was from
the Shafter district in Presidio County.
UTAH.
In 1912 there was a decrease in the production of gold, copper, and
aaa s ier an(l lead increased. Gold showed a decrease of over
$400,000 and may be expected to be as much less in another year,
due to the closing of one of the largest gold producers in Utah, the
Mercur mine, which has been productive for over 23 years. Of the
total gold output in 1912 over half was derived from copper ores,
34.5 per cent from dry or siliceous ores, nearly 12 per cent from lead
01 es, and over 2 per cent from lead-zinc ores. There was a very small
placer output and no dredges were operated. In bullion from gold
and silver mills 10.3 per cent of the gold was recovered from ores
treated principally by cyanidation. At smelting plants the crude
01 es smelted yielded 67.3 per cent of the gold and concentrates 21.4
per cent. The Tintic district, which is partly in Juab County and
Part{7. m Utah County, produced 44 per cent*of the gold, followed by
the Bingham district in Salt Lake County with 42 per cent. Tooele
County, 111 which the Mercur mine is situated, recovered 10.5 per cent.
A11 increase of 10 per cent in 1912 in the silver output placed Utah
second to Nevada and ahead of Montana. The largest yield of silver
was made in the Tintic district, credited with 7,073,104 ounces, fol¬
lowed by the Park Crtyregion with 3,642,749 ounces and the Bing-
ham district with 2 218,822 ounces. . Lead ores mined in Utah yielded
44.S.) per cent of the total silver; siliceous ores, 25.18 per cent; cop¬
per 01 es, 1 .37 j)cr cent; lead-zinc ores, 10.3 per cent; and copper-
lead ores, 1.11 per cent. Bullion recovered at gold and silver mills
contained less than a half of 1 per cent of the silver which was
nearly all recovered by the cyanide process. Some tests were made
at ai v City by an acid leaching process on Ontario low-grade silver
ores that may prove a source o( considerable silver in the future.
1 meltmg plants tieated various kinds of crude ores which yielded 78
per cent of the silver and the concentrates smelted yielded 20.13 per
cent.
WASHINGTON.
i T l? •* W t!ie Sllver. copper, and lead from oro pro¬
duced m Washington m 1912 was over *1,000,000, a slight increase.
Of tins total, 60 75 per cent represented the value of the gold; 22.75
per cent silver; 15..I9 per cent copper; and 0.51 per cent load. Tlie
output of silver and copper increased and that of other metals de¬
creased. In recent years most of the State output was derived from
ore shipped to \anous smelting plants, but during 1912, 22.43 per
cent of tlie ore was treated in gold and silver mills, principally 'by
PRODUCTION OF THE PRECIOUS METALS.
241
those using cyanidation, and 69.47 per cent was shipped directly with¬
out treatment. Most of the ore milled, with the exception of copper
ore concentrated, was that mined at Republic and treated in the San
Poil and North Washington cyanide mills. Nearly 24 per cent of the
gold and 7.69 per cent of the silver came from ores treated in gold and
silver mills, and 75.68 per cent of the gold and 86.65 per cent of the
silver came from ores shipped to smelters. There were 9 mills oper¬
ating in the State, of which 4 used amalgamation, 3 cyanidation, 1
amalgamation and cyanidation, and 1 concentration. Aside from the
output from Republic, the most noteworthy production was a sulphide
copper ore and concentrate shipped from Chewelah district of Stevens
County, where considerable development work is in progress.
APPROXIMATE GOLD PRODUCT.
Approximate gold product of the United States during the calendar year 1912 .
Items.
Domestic product of fine bars reported by private refineries .
Unrefined gold of domestic production deposited at the mints and assay offices
Domestic gold contained in ores, copper matte, etc., exported for reduction. ..
Total domestic product for 1912 .
Weight.
Fine ounces.
2,681,108
1,816,859
22, 752
4,520, 719
Approximate disposition of the gold product of the United States during the calendar year
1912.
Items.
Product of -private refineries deposited at United States mints and assay offices .
Product of private refineries exported as per customhouse returns .
Product of private refineries sold for use in the arts - - - •••••. .
Domestic gold in ores, copper matte, etc., exported for reduction .
Deposite of unrefined button at United States mints and assay oflices .
Total .
DedBul\ion reported by domestic private refineries as contained in their product Urn row.
Builfon^iport^^y^omestic private refineries as from oid material . 329>434
Total disposition of domestic product.
Weight.
Fine ounces.
3,906, 878
32, 781
15, 938
22, 752
1,816,859
5, 795,208
1.295, 193
4.500,015
APPROXIMATE SILVER PRODUCT.
Approximate silver product of the United States during the calendar year 1912 .
Items.
Weight.
^ ie nroduet of fine bars reported by private refineries .
4. id silver of domestic production deposited at the mints and assay offices .
Domestic silver contained in ores, copper matte, etc., exported for reduction .
Total domestic product for 1912 .
Fine ounces.
61,914,028
1,^)28,722
224,0%
63,766,846
24950°— 14 - 16
242
report of the director of the mint.
a vvroxvmatc disposition/ of the silver product of the United States during the calendar
y year 1912.
Items.
Weight.
Product of private refineries deposited at mints and assay offices .
Product of private refineries exported as per customhouse returns .
Product of private refineries sold for use in the arts . . . - - .
Domestic suver in ores, copper matte, etc., exported for reduction (customhouse returns). ..
Deposits of unrefined bullion at United States mints and assay offices .
Total . . .
Deduct: Fine
Bullion reported by domestic private refineries as contained in their product ounces.
but derived from foreign ores . . . 66, 650, 047
Bullion reported by domestic private refineries as from old material . 2, 169, 047
Bullion deposited at mints for foreign coinage, product of domestic private
refineries . 30,993
Difference in balance of domestic private refineries Jan. 1, Dec. 31, 1912 . 2, 243, 682
Fine ounces.
3,604,089
114,793,710
14,919,169
224,096
1,628,722
135,169,786
71,093,769
Total disposit ion of domestic product.
64,076,017
Approximate distribution by producing States and Territories of the product of gold and
silver in the United States for the calendar year 1912.
[As estimated by the Director of the Mint.]
Gold.
Silver.
State or Territory.
Fine
ounces.
Value.
Fine
ounces.
Commercial*
value.
Alabama .
795
$16,400
17,198,600
3,785,400
20,008,000
18,741,200
10,900
1,401,700
200
5100
Alaska .
831,981
183,117
967, 887
906,606
526
67,810
539,700
3,445,500
1,384,800
7,933,100
200
331,800
Arizona .
2,118,000
851,200
California .
Colorado .
4,876,500
100
Georgia .
Idaho .
7,862,900
1,800
700
4,833,400
1,100
400
Illinois .
Maryland .
60
1,200
Michigan .
543,500
30,000
12,524,000
13,851,400
1,460,800
2,300
54 000
334,100
Missouri .
18,400
Montana .
179,371
656,724
36,506
7,544
36 749
.3 707 900
7,698,500
8,514,400
898,000
1,400
33,200
3,600
Nevada .
%J y 4 vF 4 y UW
13 575 700
New Mexico .
AO, O 4 O. 1 W
754,600
15fi 000
North Carolina .
Oregon .
AOU, UUU
75Q 700
Philippine Islands .
22*331
744
iOuy <uu
461 600
j VJW
5,S00
South Carolina .
WA, UUU
1 5 400
South Dakota .
378 470
AO, *1UU
7 898 700
90'S 800
126. 500
68,800
233.500
Tennessee .
O 4 Oj *±4 \J
5 ^7
4 , OZO, /UU
1 1 ^00
4.UU , OUU
119 000
Texas .
OO 4
i ns
li, ouu
9 900
11Z, UUU
379 800
Utah . .
lUu
908 098
Z, ZUU
a 3i o Ann
0 41 7, OUU
13 H7A 700
Virginia .
uzo
1 .1
olZ, OUU
3nn
AO. UlO, i UU
700
Washington .
ll
38 093
OUU
AQ9 Ann
4 UU
oka 800
215,600
200
Wyoming .
OO, UZo
1 1 7A
OoZ, ouu
04 onn
ouu, ouu
300
1, 1 #0
z**, ouu
ouu
Total .
A KO fl 71 Q
93,451,500
ao *7aa enn
39,197,500
*1 y OAAJj 4 1 y
oo, /oo, oUU
PRODUCTION OF THE PRECIOUS METALS
243
Product of gold in the several States and Territories in 1911 and 1912 , with the increase
and decrease of each in the latter year.
State or Territory.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Idaho .
Maryland .
Montana .
Nevada .
New Mexico .
North Carolina....
Oregon .
Philippine Islands .
Porto Rico .
South Carolina _
South Dakota .
Tennessee .
Texas .
Utah .
Virginia .
W ashington .
Wyoming .
Total.
Net decrease .
Value.
1911
10,
3
19,
19,
1,
3,
18,
$18,400
665.200
521,400
928.500
138, 800
32,000
357,900
100
649.700
096,900
761.700
71.900
634.200
195,300
2,000
20,100
429.500
11.900
3,900
486.200
3,100
840,000
21,300
96,890,000
1912
$16,400
17,198,600
3,785,400
20,008,000
18,741,200
10,900
1,401,700
1,200
3,707,900
13,575,700
754.600
156,000
759, 700
461.600
15,400
7,823,700
11,500
2,200
4,312,600
300
682,600
24,300
93,451,500
Increase.
$533,400
264,000
79,500
43,800
1,100
58,200
84,100
125,500
266,300
394,200
3,000
1,853,100
Decrease.
$2,000
397,600
21,100
4,521,200
7,100
2,000
4,700
400
1,700
173,600
2,800
157,400
5,291,600
3,438,500
Product of silver in the several States arid Territories in 1911 and 1912 with the increase
and decrease of each in the latter year .
State or Territory.
Weight.
1911
1912
Increase.
Decrease.
Alabama .
Alaska .
Arizona .
California . .
Colorado .
Georgia .
Idaho .
Illinois . .
Maryland .
Michigan .
Missouri .
Montana .
Nevada .
New Mexico .
North Carolina....
Phif\pp’ino islands
Porto Rico. . .
South Dakota .
Tennessee .
Texas .
Utah .
Virginia .
Washington .
Wyoming .
Total .
Net increase .
Fine ozs.
200
468.300
3.228.900
1.270. 900
7,331,200
600
8. 184.900
4,000
100
507, 700
49,100
12. 163.900
13.185.900
1,341,400
1,000
44,800
3, 100
100
200.300
107,000
444,200
11,630,600
200
230.300
700
60,399,400
Fine ozs.
200
539,700
3,445,500
1.384.800
7,933, 100
200
7,862,900
1,800
700
543,500
30,000
12,524,000
13,851,400
1. 460. 800
2,300
54,000
5,800
Fine ozs .
71,400
216,600
113.900
601.900
600
35,800
360, 100
665,500
119,400
1,300
9,200
2,700
Fine ozs .
400
322,000
2,200
19, 100
205.800
112,000
379.800
13,076, 700
700
350.800
300
5,500
5,000
1,446,100
500
120,500
100
64,400
400
63,766,800
3,776,000
3,367,400
408,600
REPORT of the director of the mint.
244
Distribution of the gold and silver product of the United States, as reported by the mine
owners for the calendar year 1912 , as to source of production.
[Figures furnished by the United States Geological Survey.)
State or Territory.
Gold.
Silver.
Deep
mines.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Illinois .
Idaho .
Maryland and Pennsylvania.
Michigan .
Missouri .
Montana .
Nevada .
New Mexico .
North Carolina .
Oregon .
South Carolina .
South Dakota . .
Tennessee .
Texas .
Utah . "
Virginia .
Washington .
Wyoming . ’’"*’’**
Fine ozs.
809
249,419
179,915
535, 405
878,716
364
Placer mines.
Dredges.
Fine ozs .
106,425
359, 424
18,612
9
36,242
Total.
136,360
639, 737
37, 129
7,608
28, 103
798
381,081
400
3
206,086
10
32,713
1,039
3,351,937
23,268
34,365
108
‘492
542, 71C
All other
placers.
Fine ozs .
473,591
2,082
58,810
1,894
322
7,306
4,646
11,206
819
315
9,148
20
172
275
229
30
570,865
Dry or
siliceous
ores.1 * *
Fine ozs .
168
138,593
373,643
445,525
5,402, 545
77
239,861
1,324,357
13,140, 151
1,141,926
1,937
45,959
47
201,214
404, 180
3,486,608
180,450
150
26, 527,391
Lead ores.
Fine ozs.
738, 151
62, 166
2,585, 198
4,731
7,602,966
35,438
752, 226
1,055,367
104,207
2,394
567
5,246
1,877
7,806,914
22S,203
Copper
ores.
Fine
ozs .
376,593
2,378,593
792,445
224,327
451,918
502
528,453
10,655,055
173,545
290,568
523
10,555
89,893
10
2,542,381
1 ^ncJudes small quantity of silver from placer,
includes silver in lead-zinc, copper-lead, and copper- lead-zinc ores.
dredge production.
The possible production of gold by dredges has been the subjec
tfnWI di-c?ssl0I\ during the past 10 years, and some very sen^
„ftl predictions have been made of the probable yield fi°
ma* i ' • J? production by dredges in the United States h® j ^
?vo i7 Crlf0rnia and Alaska" The total yield during the la
' years has been as follows:
1906..
1907. .
1908. .
1909. . . .
. .
. .
. .
Dredge output of gold.
[I igurcs of the United States Geological Survey.)
California
$5,098,359
189
6, 536,
7 382,9"°
7 550, 2°4
7, 429, 953^
Totsj.
Ui»«l
«S%
is®
r 3ahicfl
S^’106
9,^557
x&b
the niter product o/ the United States as to the sources of ?r"'“
Quartz mills
Lead bunion
c°PPer bullion'
Total .
100.0
1903
1904
1905
1906
1907
1908
Perct.
29.9
45.6
24.5
Perct.
20.2
46.8
27.0
Perct.
24.9
44.8
30.3
Perct.
29.6
30.8
39.6
Per ct.
36.5
36.0
27.5
Perct.
39.3
31.3
29.4
100.0
100.0
100.0
100.0
100.0
100.0
PRODUCTION OF THE PRECIOUS METALS,
245
MINE PRODUCTION.
The production of gold and silver from the mines of the United
States since 1792 is shown in the following table.
The commercial value of the silver product is reckoned at the aver¬
age yearly market price of silver on the New Tork market.
Product of gold and silver in the United States from 1792 to 1844 and annually since.
[The estimate for 1792-1873 is by R. W. Raymond, commissioner, and since by Director of the Mint.]
Calendar years.
Gold.
Fine ounces.
1792 to July 31,1834 .
July 31, 1834, to Dec. 31, 1844.
1845 .
1846 . . .
1847 .
677, 250
362, 812
48, 762
55,341
43,005
Total . 1 1, 187, 170
1848 .
1849 .
1850 .
1851-1855.
1850-1860.
1861-1865.
1860-1870.
1871 .
1872 .
483, 750
1,935,000
2, 418, 750
14, 270, 625
12,384,000
10,716, 271
12, 225, 570
2, 104,312
1,741,500
Total.
Value.
314,000,000
7, 500, 000
1,008, 000
1,140,000
889,000
24,537,000
1873 .
1874 .
1875 .
1876 .
1877 .
1878 .
1879 .
1880 . .
1881 .
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
1889 .
1890. .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898 .
1899 .
1900 .
* 1901 .
1902 .
• 1903 .
1904 .
. .
. . .
1907 .
. . .
. .
. . .
. . _
. .
Total---
58, 279, 778
1.741.500
1,620,122
1,619,009
1,931,575
2, 268, 662
2, 477, 109
1,881,787
1.741.500
1,678,612
1,572,187
1,451,250
1,489,950
1,538.373
1,686, 788
1,603,049
1,604,478
1,594,775
1,588, 877
1,604,840
1,597,098
1,739,323
1,910,813
2,254,760
2,568, 132
2,774,935
3.118,398
3,437.210
3, 829, 897
3, 805, 500
3,870,000
3, 560, 000
3, 892, 480
4, 265, 742
4,565,333
4.374,827
4.574,340
4,821,701
4,657,017
4,687,053
4,520,719
Grand total .
10,000, 000
40,000,000
50,000,000
295,000,000
256,000,000
221,525,000
252, 725, 000
43, 500, 000
36, 000, 000
Silver.
Fine ounces.
Insignificant.
193, 400
38, 700
38, 700
38, 700
1,204, 750,000
107,519, 721
166.986,669
36,000,000
33. 490. 900
33. 467. 900
39,929,200
46, 897, 400
51,206, 400
38, 900, 000
36,000,000
34, 700, 000
32, 500. 000
30, 000, 000
30, 800, 000
31,801,000
34, 869, 000
33, 136, 000
33, 167, 500
32,967,000
32, 845, 000
33,175,000
33,015,000
35,955,000
39, 500, 000
46, 610, 000
53, 088, 000
57,363,000
64,463,000
71,053,400
79,171,000
78,666, 700
80, 000, 000
73.591.700
80, 464, 700
88. 180. 700
94,373,800
90. 435. 700
94, 560, 000
99,673,400
96,269,100
96, 890, 000
93,451,500
309,500
2,222, 628, 000
3,451,915.000
38, 700
38, 700
38, 700
193, 500
309,400
28, 810, 600
49,113,200
17, 789, 100
22, 236, 300
118, 568,200
27.650.400
28, 868, 200
24. 539. 300
29,996,200
30. 777. 800
35, 022, 300
31.565. 500
30,318, 700
33, 257, 800
36. 196. 900
35. 732. 800
37. 743. 800
39.909.400
39,694,000
41.721.600
45, 792, 700
50, 094,500
54.516.300
58,330, 000
63, 500, 000
60, 000, 000
49, 500, 000
55, 727, 000
58, 834, 800
53,860,000
54, 438, 000
54.764.500
57,647,000
55,214,000
55, 500, 000
54,300,000
57. 682. 800
56. 101.600
56.517.900
56,514,700
52. 440. 800
54.721.500
57.137.900
60, 399, 400
63, 766, 800
1,900, 296,900
2,019,174,600
Commercial
value.
$253, 400
50,200
50,300
50, 600
404,500
50, 500
50, 700
50,900
259, 400
418, 300
38. 674.300
65, 261,100
23.588.300
29,396,400
157, 749. 900
35,881,600
36.917. 500
30, 485,900
34,919,800
36.991.500
40, 401,000
35. 477. 100
34,717,000
37, 657, 500
41, 105, 900
39, 618, 400
41,921,300
42, 503. 500
39,482, 400
40, 887, 200
43,045, 100
46, 838, 400
57. 242.100
57,630,000
55. 662. 500
46, 800, 000
31.422.100
36.445.500
39, 654, 600
32,316, 000
32.118. 400
32,858, 700
35, 741, 100
33. 128. 400
29,415,000
29,322,000
33,456,000
34,222,000
38, 256, 400
37, 299, 700
28, 050, 600
28, 455, 200
30. 854. 500
32, 615, 700
39. 197. 500
I* 511, 015, 100
1, 669, 169, 500
246 REPORT OF THE DIRECTOR OF THE MINT.
GOLD AND SILVER USED IN INDUSTRIAL ARTS IN THE UNITED
STATES DURING THE CALENDAR YEAR 1912.
Among the purveyors of gold and silver bars for use in the indus¬
trial arts of the United States Mint at Philadelphia and the United
States assay office at New York hold the foremost place; conse¬
quently, the larger portion of the material consumed in the arts is
brought under Government notice and is a matter of public record.
The following table gives the value of the gold and the quantity
of the silver bars issued by the Government institutions and private
refineries during the calendar year 1912, with the class of material
from which they were made:
Gold and silver bars issued by the Government institutions and manufactured by private
refineries for use in the industrial arts during the calendar year 1912.
Material used.
Value of gold issued by—
Weight of silver issued by—
Govern¬
ment insti¬
tutions.
Private
refineries.
Total.
Govern¬
ment insti¬
tutions.
Private
refineries.
Total.
Bullion, old plate, etc .
United States coin .
Total .
Dollars.
38,011,583
Dollars.
2,465, 674
899,259
Dollars.
40,477,257
899, 259
Fine ozs.
2,049,676
139
Fine ozs.
27, S09. 500
7,500
Fine ozs.
29,859,176
7,639
38,011,583
3,364.933
41,376,516
2,049,815
27,817,000
29, 866, 815
Estimating that the total amount of gold coin used in the arts dur¬
ing the calendar year 1912 has been §3,500,000, and silver coin
S100,000, equivalent to 77,344 fine ounces, the total industrial con¬
sumption of gold was $43,977,257 and of silver 29,936,520 fine ounces.
In order to arrive at the net consumption in the industrial arts
there should be deducted from the foregoing totals the amount of old
jewelry, plate, etc., included in the private refinery returns and also
the same class of material returned to coinage use. In the year 1912
these amounts aggregated $8,106,705 in gold and 7,291,699 fine
ounces in silver, which leaves $35,870,552 of gold and 22,644,821 fine
ounces of silver as the net amount of new bullion devoted to indus¬
trial use.
The table following gives the amounts and classification of the gold
and silver used in the industrial arts in the United States since 1880.
PRODUCTION OF THE PRECIOUS METALS. 247
Gold and silver bars furnished for use in manufactures and the arts and classification of the
material used, by calendar years , since 1880 .
GOLD.
1880..
1881..
1882..
1883..
1884..
1885..
1886..
1887..
1888..
1889..
1890..
1891 . .
1892..
1893..
1894..
1895..
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911
1912
Calendar years.
Domestic
United States and foreign
coin. bullion and
Total new
material.
Old material.
Grand total.
foreign coin.
Total
S3, 300, 000
2,700,000
2,500,000
4,875,000
5,000,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
116,375,000
$5,511,047
6,271,311
6.219.461
8,707,824
7,600, 423
6, 153, 650
7,759,915
7,992,406
8,969,076
8,310,913
9.525.462
9,568,009
9,908,099
7,498,690
5,310,081
7,454,419
6,005,116
6,733, 159
8,476,871
12,215,809
13,561,553
15, 131,943
17,605,984
19,103,562
17,274,999
21,975,192
28,382,934
27,967,816
20,945,797
26,748,209
30,660,874
29,603,054
32,370,552
457,524,210
$8,811,047
8,971,311
8,719, 461
13,582,824
12,600,423
9,653,650
11,259,915
11,492, 406
12,469,076
11.810,913
13,025,462
13,068,009
13,408,099
10,998,690
8,810,081
10,954,419
9,505,116
10,233,159
11,976,871
15,715,809
17,061,553
18,631,943
21,105,984
22,603,562
20,774,999
25,475, 192
31,882,934
31,467,816
24,445,797
30,248,209
34, 160, 874
33,103,054
35,870,552
573, 899, 210
$1,294,385
1,595,431
1,795,246
1,852,638
1,899,577
2, 171,092
3,266,775
3,317,940
4,045,766
4,886,143
4,630,498
6,618,907
5,920,975
4,437,211
3,848,523
4,474,666
3,890,818
3,637,072
3,589,008
4,131,369
5,086,589
5,237,013
6,576,863
6,459,989
7,880,964
7,733,423
7,243,829
9,259,254
7,030,294
7,380,560
7,626,278
7 731,238
8, 106, 705
164,657,039
$10,105,432
10.566.742
10,514,707
15,435, 462
14,500,000
11.824.742
14,526,690
14,810,346
16,514,842
16,697,056
17,655,960
19,686,916
19,329,074
15,435,901
12,658,604
15,429,085
13,395,934
13,870,231
15,565,879
19,847,178
22,148,142
23,868,956
27,682,847
29,063,551
28,655,963
33,208,615
39, 126,763
40,727,070
31,476,091
37,628,769
41,787,152
40,834,292
43,977,257
738,556,249
SILVER.
1880...
1881...
1882..
1883..
1884. .
1885..
1886..
1887..
1888..
1889. .
1890..
1891 . .
1892. .
1893. .
1894. .
1895. .
1896. .
1897. .
1898.
1*99.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911
1912
Fine ounces.
464,063
154, 687
154,687
154, 687
154,687
154,687
154, 687
154, 687
154,687
154,687
154,687
154,687
154,687
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
Total.
3,867, 187
Fine ounces.
2, 126,326
2, 418, 873
4,783,339
3,971,275
3,784,167
3, 468, 715
3.238.588
3.464.589
5,369,556
5,870,650
6,212,525
6,345,372
6,322,006
6,274,268
7,365,603
8,382,937
6,943, 496
7,675, 818
8,307,947
10,419,087
11,338,941
12,832,630
16,468,785
15,956, 742
17,743,490
19,231,410
17,866,890
21,993,698
20,183,555
20,881,820
23, 109, 484
26,210,759
22,567,477
Fine ounces.
2,590,389
2,573,560
4,938,026
4, 125,962
3,938,854
3,623,402
3 393,275
3,619, 276
5,524,243
6,025,337
6,367,212
6,500,059
6,476,693
6,351,612
7,442,947
8,460,281
7,020,840
7,753,162
8,385,291
10,496,431
11 416,285
12,909,974
16,546,129
16,034, 0S6
17 820,834
19,308,754
17,944,234
22,071,042
20,260,899
20,959, 164
23, 186, 828
26, 2S8, 103
22,644,821
359, 130,818
362,998,005
Fine ounces.
203,540
219, 644
297,690
293,000
315,052
448,568
523,000
586,933
742,062
755,347
770,961
927, 493
717,349
1,099,899
974,410
1,035,230
871,528
910,227
786,552
1,629,261
1,800,999
1,223,720
2,798,880
3,934,270
2,659, 153
4,391,923
3,909,030
2,29S, 742
3,589,929
6,941,962
1,602,979
5,725,582
7,291,699
62,276,614
Fine ounces.
2,793,929
2,793,204
5,235, 716
4,418,962
4,253,906
4,071,970
3,916,275
4,206,209
6,266,305
6,780,684
7,138,173
7,427,552
7, 194,042
7.451.511
8,417,357
9.495.511
7,892,368
8,663,389
9, 171,843
12, 125,692
13,217,284
14,133,694
19,345,009
19,968,356
20,479,987
23,700,677
21,853,264
24,369,784
23,850,828
27,901,126
24,789,807
32,013,685
29,936,520
425,274,619
248 REPOBT OF THE DIRECTOR OF THE MINT.
EXCHANGE OF FINE GOLD BARS FOB GOLD COIN AND GOLD
BULLION.
The value of the fine gold bars furnished to the trade in exchange
for gold coin and bullion, monthly, by the United States mint at
Philadelphia and assay office at New York for the calendar year 1912
was as follows:
Months.
Exchanged for gold coin.
Exchanged for gold bullion.
Philadelphia.
New York.
Total.
Philadelphia.
New York. i Total.
| |
January .
February .
March..: .
ApriL .
May .
June .
July .
August .
September .
October .
November. . .
December .
Total .
$506,013.11
564,073.09
627, 184. 27
658,604.35
557, 6(P 68
541.965.es
467,957.42
561,170.19
725.096.19
526, 822. IS
394.96^02
222. 6S1. 10
$1,999,988.51
10,091,055.78
5,893,418.58
2, 1S3, 9S7.S6
2.117, 194. 19
6.025. 925. SI
5, j S2, 22o. 55
2,436,562.30
2.693,562.01
3, 532, 890. C9
2,571,164.94
2.241,919.53
$2,496,001.62
16.655. 128.87
6,520.602.85
2.842,592.21
2.674.796.87
6, 567, 89L 49
6,250. 1S2L97
2,997.732.55
3,408,658L20
4.050.712.87
2,966, 132.96
2, 464.600.63
$17,599.04
16,689.92
18, 429. 79
17,549.64
20,296. 84
18,54a 54
17,516.25
17,695. 12
16,824. 24
20,084. 60
22,303. 2j
16,634.05
$313, 219. 4S
319,022.49
376,047.39
308,480.56
296,935.33
340, 384. 71
3.51,557.89
341, 45a 79
29$. 684. 2 1
Sidy 788w 37
397, 780. 42
302,556.61
$330, SIS. 52
335, 712. 41
394,477.18
326,03*120
317,232 17
35S.925.25
379,074.15
359,145.91
315.5C&50
337,872.97
420.OS3.6S
319, 19a 66
6,354,138.28 47,549,895.81 53,904,034.09
230,163.30 4,033,908.30
4,254,071.60
THE WORLD’S INDUSTRIAL CONSUMPTION.
this bureau has endeavored to obtain, through the
United States representatives abroad, official estimates from the
various countries of the world of the consumption of precious metals
m e arts and industries. From only a few countries are official
figure* obtainable, and even these are not free from obscuritv, as
uncertainty exists about how much old jewelry and melted plate is
meluded. Where figures are based upon the sales made bv refiners
to manufacturers an allowance must be made for the scraps and
ttiaV^e manufacturers sell back to the refiners. An official
p y rom France, written in 1912, offers the following explanation:
to kno^exa^tly how much new metal and how much melted-down
abltto 2L™' °f ^consumption of precious metal in France, it isimpo*
riveoclv the valnaHnn^fth1** statLmc~ published by the ministry of finance
Setal id tLt ^ coasumptmn. and the difference between the new
exact and sdentific bases d refined 13 Poetically impossible to determine on
SLfiSf “formation results from the fact that the
make use of mptal r*omin» f? ^31111.^18 make use not only of new metal, but alio
melted down is rarelv of^lea‘ wastes and leavings. This metal
smelters of gold and silver ^ ts more often sold bv them to
merce ^ ’ h° ““ u and of it ingots that they resell to com-
made of thcT prindral* firm umdnJth^ rfsldt; however, a very serious inquiry'
chase of leavings, fiSines, andfibn’^s in Vlth melting, sale, and pur-
U«m of one-thitd of old metal fur twc^^new mKaT “ t0
following total: Um~ back tu these statistics of 1911, there has been sold as silver the
Silver:
First title .
tine .
'irgia. . . . . . .
Compamd . . . . .
TottL . . . . .
PRODUCTION OP THE PRECIOUS METALS. 249
The old silver can be estimated at one-third of this weight, or old silver melted
down, 71,366 kilograms.
Fine gold .
Gold at 1,000..
Alloyed gold . .
Prepared gold,
Kilograms.
... 22,700
700
24
... 3,700
Total . 27,124
The old gold melted down can be estimated at one-third, or 9,041 kilograms.
An allowance of one-third would seem to be reasonable, if based
upon the sales of gold bars by refiners, as scrap would be re-treated
and used over and over; but it would appear to be very large, if based
upon the net consumption by manufacturers.
Obviously, the chief interest from a monetary standpoint in the
consumption of the precious metals is in the amount withdrawn or
diverted from monetary use. In some countries it is the common
practice among manufacturers to melt down the current gold coins,
while in other countries, owing to laws forbidding this practice, or
other reasons, coins are seldom melted. The amount of old material
entering again into the manufacture of jewelry does not concern the
student of monetary conditions, but if old material is sold to the
mints and there converted into money the consumption of new gold
is to that extent contraband. The interrogatories sent out by this
bureau therefore include a particular inquiry upon this point. In
its calculations the bureau includes coins melted for use in the arts
with new material. It has been suggested that the amount of gold
used for industrial purposes may be arrived at by deducting the new
coinage by all countries from the total production, but this calcula¬
tion wuuld be clearly defective for two reasons, to wit: (1) It would
take no account of coins melted, and (2) it would take no account of
bullion in the banks of issue.
It has also been suggested that the industrial consumption may
be easily arrived at by taking the net importations of gold bullion
and deducting therefrom the coinage and any increase of bullion m
the bank stocks. This method has the merit of simplicity, but
unfortunately the statistics for imports and exports are notoriously
defective, the customhouse figures of two countries seldom being in
agreement upon the movement between those two count lies.
From many countries no estimate of consumption can be obtained.
The information available for a world estimate is fiagmontaiy and
very unsatisfactory, but the subject is one in which much mteiost is
continually manifested, and this is the excuse for dealing w ith it at all.
Reports from several countries indicate that platinum is to some
extent taking the place of gold in the composition of fine jewelry.
The information which this bureau has been able to obtain con¬
cerning industrial consumption in 1912, as the result of its inter¬
rogatories is given below : ,
Africa ( Boma , Kongo). — “The quantity of gold, mostly British gold
coin, used in the arts during 1912 was 500 ounces, hue.
South Africa ( Transvaal) .— 1 Gold bullion to the value of £873
($4,248) and silver bullion to the value of £3,433 (S16,/07) were
imported during 1912/' which amount is considered to have been
used in the arts.
Arabia. — An official communication from Maskat states that
“there were used in the arts during 1912, .$6 000 worth of gold and
& 10, 000 worth of silver.”
250
REPORT OF THE DIRECTOR OF THE MINT.
Argentina . — The report is as follows :
It is not known what amount of gold and silver was used in the industrial arts
during 1912, but at the Argentina mint there was melted, to be used for medal pur¬
poses, £225 (equivalent to $10,950). 1
It is believed that, although the people of Argentina buy important
amounts of gold and silver jewelry and tablewares, the most of these
are imported.
Australia. — The Commonwealth statistician, Mr. G. H. Knibbs,
submits the following estimate of the industrial consumption of
gold and silver in Australia in 1912:
Items.
Gold.
Silver.
Used by jewelers, electroplaters, etc.
Used by dentists .
Fine ounces.
66,782
25,000
Fine ounces.
58,620
Total quantity .
91,782
58,620
Value .
£392,577
($1,910,176)
£6,839
($33,282)
Austria-Ilungary— No information is available for Austria-Hun-
gary, excepting the figures for the weight of articles presented at the
omcial stamping bureaus.
These were reported as follows:
Austria:
Gold . grams.
Silver . 4,885
Hungary: 55,807
Domestic goods —
Gold ware ....
Silverware. . . . 2, 796
Gold-plated wire . . . 17,172
Silver wire . 204
Foreign goods — 581
Various gold ware. .
Diversified silverware . 373
Gold watches . . . 3,277
Silver watches . . 107
Gold-plated wire . . . 745
Silver wire . 48
°f and Proof coins> 0.86125 kilograms of
aold and 12 kilograms of silver were employed.
follows • Gold q°fnnmS °I ^i<dd and s^ver ware for Hungary were as
couX'es k Ah 2’A'id sJver 21810; and the grand totaf for both
Idlopams^rtwIAo^ ’fiS'SSSf t0 ®5’631'820> sd™r, 77,665
the alloySand old^o-old^usod^n ac e>quals tlle weight of
of gold in the dual kinadmr. ; , ° stan}ped goods, the consumption
estimate is adopted (fwino- to aJ|ProxiIPat^y $5,000,000, and this
centage of alloy the esS ^ tendency to increase the per-
251
PRODUCTION OF THE PRECIOUS METALS.
into the use of gold in the arts, and submits the following figures
and also ^tho attached copies of correspondence between himself and
Dr. A. E. Janssen, professor of monetary legislation and politics,
University of Louvain, and secretary general of the Belgian Govern¬
ment commission for the study of monetary reforms:
The law of June 5, 1868, made the working of gold and silver free.
The Belgian Government declines to give an estimate of the gold and silver used
in the arts, but from various sources we arrive at the following:
GOLD.
Classification.
Weight.
Value.
Gold bullion (bars) imported into Belgium .
Kilograms.
2, 423. 00
1,268.00
Francs.
8,348,102.00
4,305, 549. 92
Gold produced by Belgian smelters from imported lead and silver ores .
Total . .
3,691.66
12,715,711.92
998,576.00
Gold bullion (bars) exported (188 29 kilograms) .
Francs .
648, 576
350,000
IiifTPfisp i ti crolH rp^prvp of Rfvnk of B^lpiiirn in form of iMillion (biirs) . .
"Rfllaneo nroaiimfthlv llSPfl in t.hfl fixtS in 1912 . .
11,717,135.92
Note— The Government did not strike any gold coins during the year and only a negligible quantity
(2 to 5 per cent) of the gold which is used in the arts is derived from melting down coin.
SILVER.
Classification.
Value.
Francs.
4,729,614
Francs .
hii\ er bullion imported into ijeigiuiii. - - - - . * ..
Silver produced by Belgian smelters from imported lead and silver ores (261
23,546,880
28,276,494
Kilograms; ai yu lranus |jci . .
3,148,332
Value S^rtaltou'aid' incoming 5,000,000 lei ib^JornoamBxrlwa Gov-
ommon t at o liD fr'iBp worth of silver to the 1 lei (franc) piece. . .
3,000.000
6,148,332
eminent, u.ou ircixu^ wui tu v* 014 v vi v w x '
22, 128, 162
Balance presumably used in the arts .
Accenting these figures the consumption of new gold in the arts
would £e 109,395 fine ounces, of the value of $2,261,400, and of new
silver 6 947 674 fine ounces. The former is not improbable, but the
figures ’for silver seem high as compared with b ranee and other
countries. Brussels, October 17, 1918 .
Dear Mr, Janrsrk: Lant
views on cerUinmoneUryques P Trea^uryy Department at Washington and
y I qPuo U> f»R. the Director of the
“SlSHST*- ou, Sftl’SS'S
show an increase ^ ,r \he Belgian mint it would appear that this accession
coinage of gold during tho y_ cojn ° jf ^ this would more than account for the
excessof imports'over ex ports , without leaving anything for the amount consumed in
th-TM8 entire subject of the amount of gold and silver consumed in the arte is a very
perplexing one I have been tempted frequently to abandon all effort to make any
ptrpiexm- one. x | of at iulerest and I have continued in the hopes
tCSSSminVaioSoiit interest woSd be^toured amon^ .utlsticiMn and economists
“d 1 •L»“ld »• «««««•
ful for any further light you can throw on it.
252
REPORT OF THE DIRECTOR OF THE MINT.
I had a talk with the leading jewelers in Brussels last evening, Wolfers Freres, which
brought out certain facts, namely:
(a) The diminishing proportion of gold used in the manufacture of the best jewelry
as against a great increase in platinum. Wolfers use about one-fifth only as much
gold as platinum. Manufacturers of cheaper jewelry, like those in Antwerp, of course
continue to use gold to a greater extent than this.
(£>} Only the small jewelers melt down coin for use in their trade, there being a stat¬
ute in Belgium against it. Wolfers estimates that of the gold used in manufactured
jewelry not more than 2 to 5 per cent is derived from melting coins.
A good deal of old jewelry comes in from time to time for the purpose of having the
stones reset. Such jewelry is melted down and refined and loses its identity, the
jeweler simply selling this for the gold that is in it and buying bars when he needs
gold. As the main object of the statistician is to determine what proportion of the
annual output of gold is consumed in the arts and so withdrawn from monetary use,
the remelting of old jewelry, I take it, need not be taken into consideration.
I take the liberty of inclosing a sheet from the report which I made to my Govern¬
ment June 4. You will notice that I estimated the gold used in the arts in Belgium
in 1912 at 3,503.37 kilograms, valued at 12,067,135.92 francs. The inclosure referred
to will show how I arrived at this. In countries where the use of gold and silver is
free, i. e., not supervised and recorded by the Government, it seemed to me that the
safest way to arrive at the estimate of the amount of gold used in the arts was simply
to find out how much bullion entered the country and deduct from this the amount
coined each year in the country and the amount exported. This method of course
neglects the quantity of bullion on hand and carried over from the previous year,
but the quantity of such bullion so carried over can not be ascertained, and to offset
it there will be a quantity carried over from the present year to next year. Taking
an average of, say, 10 years, I should think that this would even itself up, and that
therefore the method pursued is the only practical one under the circumstances and
is a comparatively just one. If gold coin were melted down to any extent such a
method would be quite unsafe; but the percentage that is said to be used — from 2 to 5
per cent — is really a negligible quantity.
^ 0Ii ^ ^°U I3? 80 as £*ve me> at your leisure, the benefit of your criticism on
this plan, and let me have any other observations that you may be inclined to make
on the subject.
Sincerely,
(Signed) Theodore Marburg,
•nr » i~, T American Minister .
Prof. A. E. Janssen,
Prof de Legislation et Politique Monetaires ,
University de Louvain , 51 rue d'Arlon , Brussels.
Brussels, November 20 , 1913.
' MpHOTBR: I have the honor to answer your esteemed letter of October 17 last
giiim e*° ^a^stlcs °f the movements of money and of the precious metals in Bel-
tlJ^ld toff D5e,c.tor ?f,}tho. Mint writes you on the subject of the increase of
lias J*® NaUc?al Bank of Belgium during the year 1912. That increase
has been constant for several years, as appears from the following figures:
To%SnJhCr3l~ Francs.
1908, the reserve was . nn
1909, the reserve was . oon*nn
1912, the reserve was . . 189, 114, 130. 00
1913, the reserve was. . . 214, 428, 052. 09
. 248, 048, 53 1. 07
you! thercLhaa 'beeiMio^ gold *mi n ted°atf the ^ Bru^T JU8-U¥ °,bs<?rved in his let1,cr t0
named; in fact, lrae been noneXcl 1882 mmt durinS thc years above
Latin ifonete^^nton^ft'ironlv^m'OMa Viasmucb as Belgium forms part of the
Swiss, or Italian device in ordcl to iner^^ & lmp°rl 8°\d.c oiu bearing the French,
Belgium. It is in this wav that 1 10 re8frve which has h?gal circulation in
146,000,000 francs during the last fivifv^^T °.f the 601(1 reserve, amounting to
importation of the gold^oin of the La^tin Utoon b?eni reahzed m great part by the
PRODUCTION OF THE PRECIOUS METALS. 253
RPi0r-t8 g0lid dircctly from abroad and only rarely puts it in circulation
^e glc1?f demand it for use in foreign voyages. The bank is enabled to
do this by reason of the unlimited legal tender quality enjoyed by the 5-franc silver
pieces among the states of the Latin Union.
As to the quantity of gold employed in industry in Belgium, the lack of data does not
permit me to give an estimate of it. In your letter you refer to the information given
to you by Messrs. Wolfers; this information is interesting and as that house is one of
the most important and the most reliable of Brussels I am of the opinion that you may
accept the information as correct.
In regard to the 2 to 5 per cent of gold used by jewelers and derived from melting
down coin, in my opinion, this gold comes neither from the National Bank of Belgium,
which does not give out any of it, nor is it derived from gold in circulation because,
as you yourself must have observed, there is almost none such. The 2 to 5 per cent
gold derived by melting coin must therefore be of foreign origin.
You ask my opinion of the method which you have employed in attempting to
estimate approximately the amount of gold employed in Belgium in art and industry.
After ripe reflection I have the pleasure of writing you that I approve of your method,
which, moreover, appears to me to be the only one capable of giving any results in
a country like Belgium where the use of gold and silver is free.
Accept, Mr. Minister, the assurance of my high esteem.
(Signed) A. E. Janssen.
Hon. Theodore Marburg,
American Minister at Brussels, Belgium.
Canada. — “The quantity of gold and silver used in the arts during
1912, was 119,930 fine ounces of gold (value $2,479,173), and 875,000
fine ounces of silver bullion.”
China. — The Province of Mukden reports that “there were used in
industrial consumption, 6,200 fine ounces of gold and 123,919 fine
ounces of silver.” The Province of Shanghai consumed “40,500
ounces of gold and 193,500 ounces of silver.” The Province of
Swatow used in the arts 850 ounces of gold and 10,500 ounces of
silver with the following explanation :
These amounts consist almost altogether of old jewelry— a small quantity of gold
leaf is used, and a few silver coins — generally those refused by bankers, are melted
down. Figures are for Swatow only — not consular district.
There is considerable gold and silver working carried on in Chaochowfu, the prin¬
cipal city of the district, but as in Swatow the material used is almost exclusively
old jewelry, the quantity of gold leaf and gold and silver bullion or coin used being
negligible. Hence, this industry has little or no effect on stocks of bullion or coinage
in circulation.
France. — The exact figures showing the quantity of gold and silver
bullion used in the industrial arts in France during 1912 are not
obtainable, but the estimate of the French mint is 40,100 kilograms
of fine gold (value $26,650,460), and 364,000 kilograms of fine silver
(equivalent to 11,702,600 ounces). If this is reduced by one-third
for old material the net consumption would bo, gold $17,766,974 and
silver 7,801,734 fine ounces.
Germany. — No official information has been received from Germany
relating to the uses of the precious metals in the industries since 1 907,
when an investigation was made and the following summary of results
published :
Material used.
German gold coin
Foreign gold coin.
Fine gold .
1907
Marks.
49, 371,000
2,026,000
40, 219,000
91,616,000
Total
254
BEPORT OF THE DIRECTOR OF THE MINT.
Nothing was said about the composition of the fine gold bars named
in this report and in its first comments upon the report this bureau
treated the entire consumption as of new material. Later informa¬
tion forced us to revise this conclusion and then falling back upon
the more detailed report of the German Government of the investiga¬
tion for the years 1896 and 1897, when it explicitly said that a deduc¬
tion of one-third of the total was necessary, we applied this method,
not without misgivings, to the returns for 1907. Vve are now satisfied
that this was too great a deduction. One-third, or possibly two-
fifths of the bars sold to manufacturers should probably be deducted
on account of old material and scrap returned from the factories.
Upon this basis the consumption of coin and new gold in Germany
in 1907 would be 78,209,000 marks, or approximately 819,000,000.
An article in the Frankfurter Handels blatt, reviewing the subject,
says:
The American Director of the Mint says that for the year 1910 his investigation of
German industries shows 9S.20 million marks gold, a round third, also 32.70 million
of old material. He does not tell how he reached this conclusion. The Reichsbank, to
whom the problem really belongs, has given great labor to bring light on the question,
and after painstaking effort, says that the industries use somewhere near 40,000,000
to 50,000,000 in gold coins besides 20.000.000 gold (plates?) which are thrown off by the
the mint for the foreign trade and 50,000, 0(H) of old material; there was also in gross
110,000,000 to 120,000.000 marks of which not less than 42 to 45 per cent was old
material. But this assumption does not in any way claim to be absolutely accurate.
Manifold difficulties are encountered, as is shown by the following extract from the
German gold and silver statement of Frankfort. The extract has relation to our
recent article and runs thus:
“The basic figures given out by the Reichsbank calculate the amount used in the
German industries at about 50,000,000 marks new gold, 40,000,000 to 50,000.000 old
material, showing that the demand for gold for industrial purposes and the proportion
in gold work can be calculated. When therefore the statement is made that 40.000.000
to 50,000,000 old gold was used in industry, with a consumption of new gold to the
amountof 50,000,000 marks, then itis easily seen that the proportion of consumption of
old gold to the consumption of new gold does not correspond.
“ It is difficult, if not impossible, to obtain through statistics a perfectly reliable
estimate of the gold necessary for industrial purposes. It is difficult for a practical
man to understand how the industries use as much old gold as new gold. If, as the
report says, 40,000,000 to 50,000,000 marks of old gold were used industrially, the
amountof new gold should be double that amount— that is to say, about 100,000.000
marks— for Pforzeim stands among the foremost cities in gold-working industries.
Valuation of the proportion of the amount of old gold to the amount of new gold says
that a year’s consumption of 20,000,000 marks in old gold is balanced by a consumption
of at least 50,000.000 marks new gold; that is, an amount of 70,000^000 marks gold
is consumed per year, 20,000.000 marks gold moving forth in industry returns through
parting-work (a mint term) to the sphere of industry. A proportion of 2 to 5 is indi¬
cated, and it is implied that the proportion for Pforzeim holds for other establishments
(industrial towns) of the country. If for the whole country the consumption is reckoned
at from 40.000,000 to 50. 000, 000 marks, this sum must stand over against a consumption
of new gold of at least 100,000,000 to 125,000,000 marks.
“These figures are given in the hope that perhaps they may help to a better under¬
standing as to the valuation of the gold industries by bringing to notice the fact
that on clear businesslike (mercantile) grounds the proportion of the old gold used
industrially to the whole amount can not rise above a certain height. Old gold here
includes smelted old rings and other objects and factory waste, which will be used
again in manufacture.”
It seems quite certain that this bureau erred in its deduction of
one-third from the total consumption of Germany in 1907. This pro¬
portion of old material probably applies onlv to the fine gold bars
sold ”>V.the refineries- °n this basis the present consumption of
gold in Germany must be reckoned at about 320,000,000.
PRODUCTION OF THE PRECIOUS METALS.
255
The e 1 Metalb ank und Metallurgisclie Gesellschaft” of Frankfort-
on-Main reports the industrial consumption of silver in Germany in
1912 at approximately 11,000,000 fine ounces.
Great Britain. — -It is impossible to give any authoritative figures
for the consumption of the precious metals in Great Britain, as
no data exists from which a close computation can be made. Great
Britain is unquestionably amcng the most important countries in
this line of manufactures. As long ago as 1885 Sir Hector Hav,
after extensive inquiry, estimated its industrial consumption of gold
at $10,000,000 per annum. It should have nearly or quite doubled
since, if the industry has kept pace with the development in Germany
and France, but such evidence as is available does not point to so
great an increase.
The returns under the British census of production act of 1907
give the aggregate gross value of the output of firms manufacturing
jewelry, and plated goods as $43,044,192. The value of materials
used is given at $25,529,659 and value added by manufacture at
$17,529,659. This includes the value of gold, silver, platinum, and
all materials, and if it is correct the consumption of gold can scarcely
amount to the sum estimated by this bureau for the several years
last past, i. e., $18,000,000.
It seems quite probable the manufactures are of lighter style and
of lower grades of fineness than formerly.
The city of Birmingham is the most important manufacturing center
in the jewelry business and has been for more than 100 years. The
United States consul at Birmingham, commenting in a recent report
upon the British census of manufactures, says :
Birmingham jewelry, considered in the narrow sense of the term as articles made of
gold, is not as a rule of the highest quality and price, as is shown by the fact that of the
something under 341,000 troy ounces of gold assayed and marked at the Birmingham
assay office in 1912, 211,000 troy ounces were of 9-carat gold, which is an alloy con¬
sisting of two-fifths gold and three-fifths base metal . However, the jewelry made in
Birmingham is becoming more and more artisticand attractive, and though the higher-
grade jewelry is not the chief product of the Birmingham factories many manufacturers
produce rings and jeweled ornaments that would sell at wholesale as high as $1,000
each The higher grades of jewelry are mostly manufactured in London.
Most of the foreign shipments of jewelry and silverware consist of goods that do not
have to be hall marked. A considerable quantity is shipped to London, to be marked
there so as to be sold as if it were of London make, the impression prevailing that an
article which has the London hall mark is of London make and therefore better.
Londoners simply will not buy silver or gold articles of British make without the
London hall mark, thinking the product is provincial and not so pleasing. Some
is also sent to Chester and to Sheffield, Glasgow, and Edinburgh for the purpose of
marking in order to meet the demands of customers, various markets having become
accustomed to the hall marks of these various places and regarding articles without
the same as being imitations. For that reason the figures ot the assay office do not
offer a basis for estimating the value of the output.
In the line of gold articles almost 341,000 ounces troy were assayed and marked
at the Birmingham assay office for the year ended June 30, 1912, which consisted,
in round numbers, of 52,000 ounces troy of 22-carat gold, 69,000 ounces of 18-carat gold,
9 000 ounces of 15-carat gold, and 211,000 ounces of 9-carat gold. Many small articles
of gold do not have to he assayed and marked, these consisting chiefly of articles
that would be injured in the process of marking. But, in general, all gold and silver
wares muBt be assayed and marked.
The total of gold consumption at Birmingham here reported is
$3,806,956. Mr. Halstead goes on to report:
In 1912, 4,200.186 ounces of silver wares were assayed and marked at the Birmingham
assay office, of which 3,139 ounces were broken up because they did not meet the
256
REPORT OF THE DIRECTOR OF THE MINT.
requirements; 13,328,541 pieces of gold and silver ware were entered for assay These
figures afford an excellent idea of the output and extent of the Birmingham jewelry
trades. They do not include the very large quantity of gilt jewelry, which is the
name applied to imitation jewelry, nor do they include the medals and metal buttons
and the electroplated ware. The manufacture of electroplate is an industry con¬
nected with the jewelry trades which, though long established in Birmingham has
recently been developing rapidly and for the products of which there happens at
present to be a not inconsiderable demand from the United States. Sheffield was
the home of the plated wares that were made by rolling silver on copper, and still is an
important factor in the manufacture of electroplated or silver-plated wares.
The amount of fine gold contained in wares officially assayed at
the assay offices at Birmingham, Chester, and Sheffield, and the gross
weight of silver wares assayed in the five years 1908-1912 are given
below:
Fiscal years.
Gold.
Silver
(gross
weight).
Fine oz.
OAO O?1}
Ounces.
r a SC
ZtvS, 273
04C 1 to
5, 802. 500
C AAA AS7
*40, lOO
9X7 SOI
o, yyo, 00/
OgO ICO
o,ooo, ow
A CIO lOA
OfiQ 071
o, o iz, iyo
A QQR 079
^oy, o/i
o, you, y/4
A large share of the manufactures are not assayed, but although
these figures show little change in the amount submitted for assay m
five years they show approximately double the amount submitted in
1885.
Although these census figures do not apparently Tarrant so high an
estimate, the known consumption in other countries makes us unwill-
mg to reduce our estimate for Great Britain below $18,000,000 gold
and. 10.000,000 fine ounces of silver.
Guia. i (British). The gold and silver used in the arts during the
fiscal year 1911-12 was as follows: Gold, 2,000 ounces, fine, valued at
$41,344, and silver, 16,167 ounces, fine.
Honduras . The consumption of new bullion in Honduras during
1912 was 2,000 fine ounces of gold and 5,000 ounces of silver.
. India (British). It is understood that the uncoined gold imported
into India is all used in the industrial arts. The amount so imported
m 1912 was: 1
Items.
Rupees.
Fine
ounces.
Gold .
1 42, 000, 072= $40, 069, 751
2,228,024
Silver:
Imported .
1(56,741,827= 54,096,006
164,942= 53,513
94,013,000
87,000
Exported .
Silver, net imports . .
1G6, 570, 885= 54,043,093
94,526,000
There are no available figures showing the amount of silver used
in the industrial arts in India. Usually the imports of silver bullion
minus the amount used in coinage is taken as the amount consumed
in ie arts, but while this is approximately true over several years,
it may not be true of a single year.
PRODUCTION OF THE PRECIOUS METALS.
257
The new coinage was 104,207,983 rupees, or 833,805,070. Deduct¬
ing this amount From the net imports gives 820,238,023, representing
32,923,414 ounces, fine. The net imports of silver bullion by private
parties in the fiscal year ended March 31, 1913, were 26,915,625
ounces. Importations for rupee coinage are made by the Govern¬
ment. The figures for 1912-13 exceed those for 1911-12 by 4,607,250
ounces, but the latter were unusually low.
Italy. — No figures of any kind have been received for Italy. With
its large population, artistic manufactures, and many tourists the
consumption of the precious metals must be important. In the
absence of information, the consumption of new gold is estimated at
83,500,000 and of new silver at 1,500,000 ounces.
Madagascar. — The quantity of gold used in the industrial arts
during 1912 is reported to have been 2,572 fine ounces, of the value
of 853,168. The report states that there was no silver used.
Netherlands. — “There were 38,302 fine ounces (value 8791, 773) of
gold used in the arts during 1912 and 400,997 fine ounces of silver.”
Panama. — “According to expert opinion, a merely nominal
amount— not exceeding 8500 in gold and 325 fine ounces of silver—
were used in the industrial arts during 1912.”
Portugal. — It is reported that 159,373 fine ounces of gold, of the
value of 83,294,532, and 526,407 fine ounces of silver were consumed
in the arts during the year 1912. It is understood that most of this
was from old material. #
Russia — No figures were received from Russia for 1912. For 1911
office reported 364,122 ounces of gold wares and
of silver wares. Making allowance for alloys,
the stamping
5,762,182 ounces
plated goods, and old material, and assuming an important production
of unstamped wares, the consumption of gold is placed at $5,000,000
and of silver at 4,000,000 fine ounces.
Finland — The estimate for Finland is included with that lor
Russia At the Helsingfors stamping bureau, in the year 1911,
there were assayed 75,011 grains of wrought gold and 81,506 lod 1
(34,852.64 Troy ounces) of wrought silver.
According to the mint assay accounts here, the portion of Govern¬
ment work assayed by the stamping bureau in 1911 was valued at
25 524 33 Finnish marks, being an increase over the year 1909 ot
1 075 89 Finnish marks, and an average increase under the years
1902-1911 of 4,758.41 Finnish marks.
The output from the stamping bureau in the years 1902-1911 was
valued as follows:
Finnish
marks.
. . 15,469.19
. . * . 16,496.00
. . 16,898.77
. . 17,205-/9
. . 20,710.51
. . 22,758.34
1907 . ’
Finnish
marks.
1908 . 23,956.97
1909 . 24,448.44
1910 . 24,190.25
1911 . 25,524.33
Total . 207,659.19
[From the French mint report for 1912.]
The weight of fine gold used in Swiss industries in 1911 is estimated
at about 13,700 kilograms. This estimate was made by the federal
bureau from the gold and silver material in articles stamped and
1 1 lod Is 0.4276083 of a Troy ounce.
24950°— 14 - 17
258
REPORT OF THE DIRECTOR OF THE MINT.
verified by the different bureaus of verification, and upon the basis
of observations made in the manufacture and commerce of watches
and jewelry. It is not possible to know how much of this amount
resulted from the remelting of coins and other manufactures, but it
is probable, however, that new gold coins are used in preference for
the melted gold. According to an estimate furnished by the federal
bureau, the gold coins melted for industrial purposes amounted to
about 5,000 kilograms.
The quantity of silver used in Swiss industry amounted to about
S9,000 kilograms.
Servia. — “The gold and silver used in the first six months of 1912
was as follows: Gold, 210 fine ounces; silver, 12 fine ounces.
Sweden. — “The estimated quantity of gold used in the arts in 1912
was 25,600 fine ounces (value $529,200), and of silver 272,000 fine
ounces.”
Switzerland. — An official communication from Switzerland states
that “ the estimated amount of gold used in the industrial arts during
the year 1912 was 14,500 kilograms, equivalent to 466,175 fine
ounces, representing a value of $9,636,692. The silver so used is
estimated to have been 90,000 kilograms, equivalent to 2,893,500
fine ounces.
About one-half of the consumption of gold is said to be of new gold
coins, which is a net figure. II from the other one-half, one-third is
deducted as old material the net consumption of Switzerland is
approximately $8,000,000.
Egypt and Asia. — The industrial consumption of Egvpt is unknown.
The absorption of foreign gold com, if we may judge by the customs
records, is continuous, and as the imports and. exports are by sea the
records are likely, to be more accurate than those for land move¬
ments. The net imports of gold into Egypt for the last five years
have averaged about five million dollars per year, most of which is
presumed to be hoarded. The excess of silver imports over exports
during the last six years has averaged about three million ounces, but
in 1912 was very small.
The gold bullion imports of India are all assumed to be for consump¬
tion, inasmuch as there is no coinage, and some of the sovereigns are
aho so used. The industrial consumption of Japan and China are
t^now 11 be considerable, but no figures can be made for them. Alto¬
gether an estimate of $50,000,000 for the new gold consumption of
'-'gjpt and. Asia seems to be well within the probabilities. In this
connection it should be understood that the movement of gold to and
irom China is small, so that the consumption of China, whatever it may
. 15 'Pr°bably for the most part of native gold which has not entered
111 to the world s figures for production.
sil ver from London to India, Hongkong, and China
were 108,792,000 ounces and from the United States to the same
“lonS’ 19.099, 032 ounces, a total of 127,891.032 ounces. The
°if the Indla1mints, which included British dollars for
cSr nrf 46’971’959 ounces, and the coinage of
toother 99 niqd9M h® burcau Required 52,077,305 fine ounces or
oxustint %tori°o49ft76}i °\mc9s- . The remainder, 28,841.771, plus
industnafeoraumptiou! SUm“g °£ *he year- Was a',oilable * *
PRODUCTION OF THE PRECIOUS METALS. 259
Summarizing the foregoing the results appear as given below. The
bureau is of the opinion that the European figures as to gold are above
rather than below the consumption of new gold and coin '
World* 8 industrial consumption , 1912.
Country.
Gold.
Silver.
United States .
$35,800,000
20,000,000
18,000,000
17,500,000
8,000,000
5,000,000
5,000,000
3,500,000
3,000,000
1,000,000
1,800,000
2,000,000
2,500,000
1,000,000
Fine ounce*.
20,000,000
10,000,000
10,000,000
9,000,000
2,000,000
2,000,000
4,000,000
1,500,000
5,000,000
600,000
1,000,000
900,000
900,000
1,000,000
Germany .
United kingdom .
France . . . . . . - .
Switzerland . . . .
Pucciq ( irinliirfi incr Finl/ind^ . . . . .
uui6r couiiinvo ui juiuupv ^ * • • ■
124,100,000
50,000,000
67,900,000
28,841,771
174, 100,000
96,741,771
'pfy 000 000Tof ^hich^ ho^everT ^approxhn a tely
lated above, was,S174\°tn he in cohi riving a net consumption m
$20,000, 000 was figured to be in com, giwne
bullion of $154,000,000. , , jn the arts, including the
The coinage and coiisum^ ^
Asiatic imports of bullion thus work-out apg 000,000. It
which seems to have exceeded^ 1^ ^ usually $300,000,000 to
is to be considered, h .1 ’• titutions of issue and that the coinage
$400,000,000 of bullion 000,000, or even $50,000,000 above
aceoEnt the bullion
ESTt the beginning diows a net coinage requir-
The same rough calcuh. i ‘ and an intetnal consumption
t5SSSHfe«@2SS®rtfi
SS3S&" 1
260
REPORT OF THE DIRECTOR OF THE MINT.
STOCK OF MONEY IN THE UNITED STATES.
On December 31, 1912, the stock of domestic coin in the United
States was $2,363,468,061, as shown by the following official table:
Item.
Gold. Silver.
Total.
Estimated stock of coin Dec. 31, 1911 .
Net imports United States coin, calendar year 1912 .
Coinage, calendar year 1912 .
Total .
$1,616, 538,976
17,498,523
$733,660,507
1,808,032
7,340,995
$2,350, 199, 4S3
1, SOS, 032
24,839,518
1.634,037,499
742,809,534
2,376,847,033
United States coin melted for recoinage (face value),
calendar year 1912 . : -
United States coin estimated to have been used in
the arts calendar vear 1912 .
Net exports United States coin calendar year 1912 . .
Total .
2,656,800
3,500.000
6,501,329
620,843
100,000
3,277,643
3,600,000
6,501.329
12,658,129
720,843
13,378,972
Estimated stock of coin in United States Dec. 31, 1912..
1,621,379,370
742, OSS, 691 2,363,468,061
Note. — The number of standard silver dollars coined to Dec. 31, 1912. was 570,272,610. which, added to
the Hawaiian dollar coinage, 500,000, plus the number imported from the Philippine Islands. 150.000, and
the number returned in Government transports, 496,859, equals 571,419.469. Since July 1, 1898. the num-
ber of standard silver dollars exported in transports has been 2.495,000; and since 1SS3 the number melted
has been 191,308 (see Report of the Director of the Mint, 1912, p. 65) and the number of Hawaiian dollars
melted to Dec. 31, 1912, has been 455,141, a total disposition of 3,141,449, leaving in the United btates on
Dec. 31, 1912, 568,278.020 standard silver dollars and $173,810,671 in subsidiary silver coins.
The value of the gold and silver bullion held by the Government
institutions on December 31, 1912, was as follows:
Gold and silver bullion in the mints and assay offices on Dec. SI, 1912.
Bullion.
Value.
Gold .
Silver (cost)
Total.
$258,857,946
1.703,780
260,561,726
The total metallic stock in the United States was as follows:
»
Metallic stock in the United States on Dec. SI, 1912.
Bullion and coin.
Value.
$1,880,237,316
743.792.471
2,624,029.787
PRODUCTION OF THE PRECIOUS METALS.
261
The location of the stock of metallic and paper money in the
United States on December 31, 1912, was as follows:
Money.
In Treasury.
Outside
of Treasury-
Total.
Metallic:
Gold bull inn. .
$258,857,946
1,703,780
995,209,422
493,460,533
17,960,354
$258,857,946
1,703,780
1,621,379,370
568,278,020
173,810,671
Silver bullion .
Gold coin .
Silver dollars . 1
Subsidiarv silver coin .
Total metallic .
Paper:
Legal-tender notes (old issue) .
Legal-tender notes (act Julv 14, 1890) .
National-bank notes .
Total notes .
Gold certificates .. . j
$626. 169, 9!S
71,817,187
155,850,317
1.767,192,035
856,837,752
2,624,029,787
8,438,428
10,902
31,216,716
338, 242, 5SS
2,786,098
719,755,531
346,681,016
2,797,000
750,972,247
39,666,016
1,060,784,217
1,100,150,263
126,725,027
15,111,508
957,709, 142
475,372, 492
cprtifiratfis . . . .
Total certificates _ .
112,139,535
1,133,081.631
Total stock of money .
3,350,703,603
3,724,480,005
1 .
THE COURSE OF SILVER.
The following review of the London market for silver during the
calendar year 1912 is from the annual circular issued by Messrs.
Sharp & Wilkins, bullion brokers of London, England :
The history of silver for the year 1912 is the record of the varying
views and opinions of the market as influenced in the first place by
the expectation of development in China, and the large loans which
were expected to be required to enable the Government of the new
Republic there to bring the country into order, to pay and disband
the troops, and to reestablish the ordinary routine of life after the
upheaval of the revolution of the previous year.
The second great influence was the feeling, amounting almost to
certainty, that the Government of India could not allow their reserve
of rupee currency to run much lower, as in the early part of the year
there was such a continual call for rupees that the reserve ran down
as low as 1 1 h crores in May, and it was recognized that some buying
of silver for India coinage was sure to take place before long. The
extent to which this might be necessary was naturally dependent,
in a large measure, upon the character of the monsoon, a good season
in India making for a large use of rupees, whereas a poor monsoon
might have made it possible to postpone coining for some time longer.
The expectations as to China loans have on the whole been disap¬
pointing, and hopes and fears have alternated more or less all through
the year, and even at the end the problem is unsolved. From time
to time it seemed as though all difficulties had been surmounted, but
the conditions, political and financial, which arose again and again,
threw back the subject to its old uncertainty. The equal participa¬
tion of the six powers, and the conditions required by them, made
many points to be discussed, and when at. last these were settled,
the Chinese Government refused to proceed on the fines laid down,
262
REPORT OF THE DIRECTOR OF THE MINT.
and attempted the reorganization of their finances with, other lenders
Concession to Belgium for a railway loan of £10,000,000, and the
bringing out of a loan in London for the same amount, to be issued in
two portions of £5,000,000 each, seemed to show that the endeavor
of the six powers would result in failure, but the difficulties expe¬
rienced with these smaller ventures has induced the Chinese Govern¬
ment again to approach the strong group, so that once more there
seems a probability that the reorganization scheme, even if reduced
in scope, ■will take place sooner or later.
On the whole, silver has been bought for these Chinese operations,
but when the rupture of these negotiations took place, an important
amount of silver, stored in anticipation, was parted with at much
higher prices then when it was acquired.
With regard to India, the anticipations of the market have been
amply realized, and the Government there has been forced to obtain
a very large amount of silver, thereby justifying those who for a long
time had foreseen that it would be so. The operations were carried
out with great secrecy, but have resulted, as was only to be expected,
in a large increase in the price of the metal, and the fact that the
monsoon turned out to be an exceptionally good one, producing
abundant crops, made it clear to all that a large provision would have
to be made for the call on the currency reserve which might be looked
for.
The year opened with the price of silver at 25$ and 25$ for cash
and two months delivery, and gradually improved during January
and early February, on a good deal of China support and orders from
Indian bazaars in anticipation of higher rates, until February 13,
on which date the figure had advanced to 27$ and 27f, the discount
on cash being replaced by a premium, sellers finding it necessary to
cover their commitments as they fell due in a market where cash
supply v as not offered plentifully. As the position was cleared the
price gave way a little, and by March 4 was only 26f and 26f, but
from this time forward a quiet absorption of supplies began to take
place, due, as was subsequently ascertained, to the purchases for the
Indian Government, and large orders from the bazaars taking place
at the same time, raised the price again, so that on April 30 the quo¬
tation had mounted to 2ST3,7 and |. 1 n
Smallei buying in May did not influence the market so much, but
rou» t a renewal of activity and the figures rose to 28^- and
k.d f!h U?!, iTaS bougl]t for the Government, in Julv, and the mar-
i nntne change, and rates receded to 272 and 27$ but the pur-
acUvVLr/.f^0-0’000 “ “d September, together witf an
fevel of ,h« „7’ can?ed, the Rrice s'ifi father, a ml the highest
°n B**- 8, 29| and 29«, for cash
avwage about^H0 i 1 ^°^°r +ia^eS ^ little, being quoted on an
ill November rather ^ 1Gr- ^ 1 >°°°,000 was acquired for India
bazaars mS Shh ^ P™6’ maiW operators in the Bombay
feeC tfafc thf need, IfTu hoJdm^ prompted, no doubt, by the
provifed for. Earlv in n ie Government had been to some extent
y December, however, some large buying took
PRODUCTION OP THE PRECIOUS METALS. 263
of available rcady'sflver^hat '!''' J:.usl’ "Iul “used such a scanty
some important parcels and tlio mu<dl. ?s t Premium was paid for
“* - j&H cAif^ZT^Xs DC°CmW 10 W”s "
“”H * woahtess,
silver to a discount whilst ,,™ c,,.anS®^ ^ie premium on ready
depressed the market, and the losb^lriJTfDi s^ire^sH^d
Ih^Udumion^^ f0\ reldy forwanl respccUvely H d
production of silver lias been but little greater than last vear
when expressed m ounces, but the enhanced price has natimillv
m^WlTt a?pre,clable increase in value. China sold an amount esth
mated at about one million and a half sterling in September at hi^h
rates and a new source of supply, about £800,000, was found in ship¬
ments ot dollars from Mexico when the price of standard silver ranged
irom _9 to 29^, and the sale of about £270,000 of silver resulting from
a surplus on recoinage in Austria, was a noteworthy addition to the
normal supplies in the market.
There has been during the year a good demand for the contingent,
shipments to Germany amounting to £930,000, to France £350,000,
to Portugal £150,000, to Russia and Central Asia £970,000, whilst
Brazil has required £200,000, and the English mint has not been
inactive, £650,000 of English coin having been sent away to the
colonies.
The future prospects of the market are obscure, so much depend¬
ing on the policy to be pursued by China, but it is fairly certain that
a continuance of quiet government there will tend to an increase of
exports, as the season has been an exceptionally good one, and crops
are excellent. The question of a loan of magnitude, said to be £25,-
000 000 is again to the front, and if the Chinese Government can
overcome its reluctance to give adequate safeguards for the proper
use of the money, the assistance required will be forthcoming, and
induce a largely increased use for silver, with a consequent benefit
age of this year, which * of sqver are continuously required
condition, and as good aP ms likely that rates will be sustained
for coinage ^^u^fomerly, and although prices may not quite
rjv- ^ for sifvtr m the
months to come.
I
264 REPORT OF THE DIRECTOR OF THE MINT.
Highest, lowest, and average price of silver bullion and value of a fine ounce each mm,ii
during the calendar year 1912. nUl
Month.
Highest.
Lowest.
Average
price per
ounce,
British
standard,
0.925.
Equivalent
value of a
fine ounce
with ex¬
change at
par,
$4.8665.
Average
monthly
j>rice at
New York
exchange
on London.
Equivalent
value of a
fine ounce
based on
average
monthly
price and
average
rate of
exchange.
Average
monthly
price of
nne bar
silver.
1912.
January .
Pence.
26H
27;
2~i
2S&
2SJ
28*
28*
29*
Pence.
a
orj: 1
Pence.
25.S842
27. 1684
26. 8750
cn M741
$4.8697
4. 8733
4. 8724
4. 8709
4.8700
4. 8727
4. 8748
4. 8721
4. S587
4. 8577
4. 8517
4.8505
$0.56766
.59640
.58984
$0.56921
February .
oU. 00 i 41
rnrcc
March . .
. oyooo
COQlQ
.59793
April .
26 1
27H
07 1±
• 0S91o
cn vTU~i
.59096
May .
41 . Zoo 5
28.0393
Ofl OIWl
. o9ouy
Cl iCE
. o986o
-6003S
June .
. 01400
At OJA
. 61525
.62240
July .
27*
Zo. ZIOU
. olaoU
ai 1 -n
.61929
.62735
August . .
27*
ocii
4i. yuoo
OC 4A1 A
. 01179
aooca
• 61282
.62138
September .
40. Wli
2Q OQ&O
• 0zzo9
CO 700
.62331
.63097
October .
291
29
9011
43 ■ uyoy
9Q O/VLi
. 0o7oo
A 4 000
.63685
.64140
November .
29|
29H
4a. oUUi
20 nom
. o4zzy
.64112
. 64899
December .
ooa
4a. UZUU
20 9AVl
. 63615
.64240
.63471
.64265
4a. oUDU
.64028
.64720
Total .
28.0416
. 61470
4. 8662
.61468
.62006
EXPORTS OF SILVER BULLION FROM THE UNITED STATES.
The exports of silver bullion from the United States since 1900
were as follows :
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
1912 .
Total
Exports of silver bullion, calendar years 1900-1912.
Calendar year.
United
Kingdom.
Asia.
All other.
Total.
. $51,870,790
44,732,679
33,775,693
32,809,430
39,314,272
42,680,190
44,034,990
42,692,769
40,030,888
44,093,497
45,270,823
51,143,245
51,388,352
$5,629,436
4,507,540
7, 465, 728
1,654,052
4,627,162
6,244,301
4,210,717
3,003,325
5,811,684
7,963,217
7,495,997
9,370,356
11,413,021
$S13,929
2,022,053
3,908,906
4,202,030
1,826, 785
1,698, 4S9
1,325,087
5, 798,577
5, 206,406
4,046,639
3,434,677
4,019,825
7,959,870
$5S,314,155
51,262,272
45,150,327
38,665,512
45,768,219
50,622,9S0
49,570,794
51,494,671
51,048,978
56,103,353
56,201,497
64,533,426
70,761,243
503,837,618
79,396,536
46,263,273
689,497,427
PRODUCTION OF THE PRECIOUS METALS. 265
EXPORTS OP SILVER FROM LONDON TO THE EAST.
to india' china' ,,n<i ,hc s,raits
Calendar year.
India.
China.
Straits.
Total.
1881 .
$19 Q7S AIO
CO OAO n/>A
$3,577,729
$19,852,201
Cl 6, .5/0, D IZ
1ft AAA QAK
53,898,860
1,584,318
1883 . .
lo, OUA,
1 ft fl4n 1 JA
7 , 354, 2o5
11,189,631
8,136,097
3,108,146
2,892,064
27,543,518
1884 . .
U'lV; 1 lU
oa nn qoq
4,212,574
C A1 O 71 J
33 , 442, 345
39,228, 720
37,182,128
25,821,0.80
23,992,453
or co a ion
1885 . .
U * <3 f u\J%j
an oia
0,Uio, /14
Q 1 C/l QIC
1886 . .
OUj lO j UU#
21 IRQ ^Q1
O y 1 DU y ulo
1,769,425
1 A<Y? 1 7Q
1887 .
All y lOi 1 y OO 1
19 798 328
1888 .
-i y 4 UCJj OJJCj
21,162,116
28,392, 786
35, 673, 177
21,717,992
35,180,897
34,319,877
24,391,351
17,638,610
23,874,942
28,250,305
1 y *±A»4 y 1 4 V
1 1R3 009
<oo, y4o
o 910 *191
1889 .
1 y lOO y Ul/A
2,731,861
1,284,498
1,177,620
719,668
11,635,650
13,279,564
8,042,003
3,602,597
2, 721,522
o, ZIJ, 061
ft 1Q1 141
Zo, 004, 40 y
OG one 7ftft
1890 .
o, lOl , III
4,441,197
10,754,800
18,622,825
7,847,295
6,002,565
3,668, 772
4,025,257
3,597,331
1,971,443
03, Ol/0 , 4 00
41 *100 fl79
1891 .
Ol , 030, OliS
33,650,412
54,523,390
53,802,822
43,673,480
29,349,385
31,502, 796
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
34,569, 158
1898 .
20,984,625
3,721,656
26,677,724
1899 .
25,597,912
6,929,117
1,396,223
33,923,252
1900 .
37,916,065
11,252,496
3,922,477
53,091,038
36,987,395
4,101,764
3,150,630
44,239,789
30,987,195
991,793
5,363,710
37,342,698
36,125,636
1,508,907
3,999,674
41,634,217
46,366,153
2,495,502
385,758
49, 247, 413
36, 754,830
4,315,841
186,382
41,257,053
73,997,060
2,096,002
8, 516
76, 101,578
57, 804,063
49,544,255
42,573,115
42,191,095
48,339,918
67,510,521
51,935,064
2,420.354
3,448, 645
45,133,819
3,608,023
802, 413
557, 701
32,477,074
35,090,872
43,131,303
58,181,441
9, 538, 340
7,100,223
5,20S, 615
9,329,080
GOLD AND SILVER IMPORTED INTO AND EXPORTED FROM BRITISH
INDIA.
Gold and —
[From Financial and Commercial Statistics of British India.]
1873- 74.
1874- 75.
1875- 76.
1876- 77.
1877- 78.
1878- 79.
1879- 80.
1880- 81.
1881-82.
1882- 83.
1883- 84.
1884- 85.
1885- 86.
1886- 87.
1887- 88.
1888- 89.
1889- 90.
1S90-91.
1891- 92.
1892- 93.
1893- 94.
Period.
Imported.
Ounces
569, 684
512, 287
850,232
1 ,175,875
709,102
272, 442
474,635
Gold.
Exported.
Ounces.
41.646
50, 710
76,848
161,646
285, 454
726.925
378,399
Net im¬
ports.
Ounces.
331,554
446,964
355,985
62,696
102,628
177,101
374,227
777,533
1,028,240
1,048,810
1, 138,584
973,053
544,437
393,174
628,038
461.577
773,384
1,014.229
’423,648
-454,483
96, 236
Silver.
Imported .
Ounces
37,877,141
37,844,665
43,940,659
56. 190, 870
38,177,580
54 180,144
60,328,296
Exported.
Ounces.
5,994.542
5,408.636
5,296,885
4,661,785
5,829,142
8, 656, 632
5,999,323
Net im¬
ports.
Ounces.
8, 747,151
16, 269, 590
5,451,074
25,229,980
51,436,354
13,916,146
27,581,194
13,642,358
1S,S52, 031
26,216,055
22.448, 221
25,393.863
40,677,913
25,078,814
32, 782, 599
32,436,029
38,643,774
51,529,085
32,348, 438
45,523.512
54,328,973
266 REPORT OF THE DIRECTOR OF THE MINT.
Gold and silver imported into and exported from British India in each fiscal year ending
Mar. 31, from 1878-74 ( British standard ounces ) — Continued.
Gold.
%
Silver.
Period.
Imported.
Exported.
Net im¬
ports.
Imported.
Exported.
Net
imports.
1894-95 .
Ounces.
236, 873
Ounces.
926, 843
Ounces.
-689.970
Ounces.
32,638,069
Ounces.
5,598,047
Ounces ,
27,040,022
1895-96 .
695,055
657,238
1,129,149
372, 432
322, 623
34,082,810
7,064,731
27,018,079
1896-97 .
347, 873
309,365
37,520,322
68,535,612
11,591,234
25,929,0 88
1897-98 .
397,114
732,035
24,250,995
44,284,617
1898-99 .
1,432,461
410, 461
353,225
1,022,000
49, 226, 780
26,061,355
23,165,425
1899-1900 .
1,914,037
1,560,812
50,663,542
32,017,260
18,646,282
49,435,164
1900-1901 .
1,987,738
1,372,249
2,187,384
3,330,466
3,605,017
2,396,420
3,019,101
3,380.405
1,334,107
4,095.042
1,881,060
1,097,743
106,678
64,746,549
15,311,385
1901-2 .
274,506
66, 726,972
27,721,780
39,005,192
42,274,309
1902-3 .
770, 766
1,416,618
75,569,185
32,294,876
1903-4 .
1,764,229
2,088,025
1,566,237
104,324,765
25,142,629
79,182,136
1904-5 .
1,516,992
98,118, 908
23,769,313
74,349,595
1905-6 .
2,461,892
-65,472
88, 853,079
4,535,314
84,317,765
1906-7 .
642,010
2,377,151
2, 781,340
625,338
125,878.008
7, 679, 151
118, 198,857
1907-8 .
599,065
708, 769
106,358,274
8,442,915
97,915,359
1908-9 .
85,048,761
11,308,630
73,740,131
1909-10 .
589,906
683,639
3,505,136
3,843,422
75,501,745
14,486,993
61,014.752
1919-11 .
4,527,061
69,272,319
14,396,030
54,876,289
1911-12 .
6,871,212
647,286
6,224,026
70,378,747
38,149,647
32,229,100
Note.— The quantities in the column “net imports” for both gold and silver for the years 1873-74 to
1886-87 are estimated only, deduced from the declared values of the trade for those years by the following
process:
For gold, the rupee value of the monthly net imports was converted into sterling at the average rate of
exchange in each month, and this sterling value was then divided by the English mint price of gold (£3
17s. 10id.). For silver the average prioe of 107 rupees per 100 tolas, or 285.33 rupees per 100 ounces, was
taken as the basis of the value of the annual imports.
IMPORTS AND EXPORTS OF BULLION INTO AND FROM LONDON.
The imports and exports of bullion from and to various countries
at London during the calendar year 1912 were as follows:
Imports.
Exports.
Countries.
Gold.
Silver.
Gold.
Silver.
Austria .
Belgium .
France .
Germany .
HoUand .
Sweden and Denmark .
Russia .
Spain, Portugal, etc .
Switzerland .
Turkey .
Gibraltar .
Malta .
Egypt .
Ceylon .
Bombay, Madras, and Calcutta .
Singapore and Penang .
Hongkong and Shanghai .
Netherlands Indies . * '
West Coast of Africa .
British South Africa .
United States .
Mexico, South America (except Brazil), West
Indies, etc .
Brazil .
British North America _
Australia .
New Zealand . ” ” ”
Other countries .
53,510,897
32,975
576,374
2,600,643
15,295
4,867
29,953
475,014
511,075
2,822,570
124,188
114,295
268,009
20,431,567
838, 274
2. 156, 867
7,397,051
200.561,103
81,689
4,039,010
2,658,423
759
4,745,324
1,094,213
1,320,004
Total
256, 410, 439
$22,844
626, 893
1,073,564
3, 190, 156
730
157
122,792
292
2,472
7,329
97, 773
86, 142
31,233
2,346,242
277,921
139, 255
31,121
65,019,589
2,063,673
23,072
6,006,200
282,442
174,552
25,174
81,651,618
$513,050
2,043,930
8,080,748
33,5S1, 746
5,010,860
851,638
2,335,920
592, 934
3,554,492
15,011,936
238, 458
291,990
40,540,378
2,676
63,730,565
269, 716
19,466
2,582,189
233,137
358, 705
9,982,131
11,941,880
19,390,287
6,320,627
226,479, 459
5134,607
209,260
1,763.230
4,576,564
33,345
19,539
4 747,417
770,012
””99,' 909
31,496
497, 867
218, 117
60,299,361
9,294,772
152,326
2,394,148
417, 195
116, 421
1,174.520
1,139, 150
535,836
444,798
147,747
89,217,637
PRODUCTION OP THE PRECIOUS METALS. 267
[As officially reported.]
GOLD.
Countries.
Imports.
Exports.
United States .
Africa .
Arabia .
Argentina .
Australia .
Austria-Hungary. . .
Belgium .
Brazil .
Canada .
China .
Denmark .
Egypt .
Great Britain .
Germany .
Guiana (British) .. .
G uiana ( Dutch)
India (British) .
Japan .
Mexico .
Netherlands .
Norway .
Portugal .
Roumania .
San Salvador .
Siam .
Spain .
Straits Settlements.
Sweden .
Switzerland .
Venezuela .
Costa Rica .
Cuba .
Senna .
Zanzibar .
$66,548, 772
358,705
1,405,690
34,804,260
6,763,646
3,110,529
5,129,006
24,271,474
8,857, 227
6,895,475
4,422,000
56,299,920
256,410,439
65,503,727
$44,392,384
207,957,667
1,804, 108
140,481
60, 307,810
3,652,957
595,439
9,123, 672
13,505,223
1,363,604
3, 805,600
37, 283,957
226,479,411
150,685
155,634,686
5,169,536
17,753,841
594,041
178,012
1,234,198
754,925
418,167
11,262,2 88
2,411,571
14,229,639
1,590,009
1,424,995
2,231,193
34,319
137, 902
915,517
167, 725
21,381,190
10,558,520
24,952,507
2,389,494
412,557
340,959
1,332,541
3,721,450
7,954
42,059
8,053,442
2,680
5,369,646
1,193,383
461,739
463, S32
322,311
Excess of
imports
over exports.
$22, 156,388
34,663,779
4,533,567
15, 147,802
5,531,871
616,400
19, 015,9G3
29,931,028
65,503,727
134,253,496
15,364,347
181,484
746,971
376,108
3,208,846
2,408,891
8,859,993
396,626
963, 256
1,767,361
34,319
Excess of
exports
over imports.
$207,598,962
398,418
53,544,164
542,428
4,647,996
915,517
17,040
5,388,984
24,952,507
162,947
98,343
3,721,450
184,409
SILVER.
United States .
Africa .
Arabia .
Argentina .
Australia .
Austria-Hungary .
Belgium .
Brazil .
Canada .
China .
Denmark .
Egypt . .
Great Britain .
Germany........ .
Guiana (British) .
Guiana (Dui oh) .
India (British) .
Japan .
Mexico .
Netherlands .
Norway .
Portugal .
Roumania .
San Salvador .
Siam .
Spain . . . y - "
Straits Settlements...
Sweden .
Switzerland .
Venezuela .
Costa Rica .
Cuba .
Servia .
Zanzibar .
$48,
2,
401,086
169,077
427,089
1,
4,
52,
33,’
392,808
047,339
287, 138
996,029
100,344
598,879
$66,984,238
1,496,400
1,959,393
424,468
10,521,689
2,308,170
9,038,582
17,037
1,307,755
19,173,327
$467,696
1,739,169
43,248,556
978,992
14,425,552
1
81
3,
60,
5,
100,905
651,616
838,453
229,402
43,341
238,092
749,086
1,
826,718
189,549
667,218
116
1,
11,
1,
678,323
429, 131
011,296
44,161
315, 563
346,154
24, 904
‘"'42
331
107,535
89,217,637
33,969,978
317,096
109,344
14,179,496
14,705,926
44,784,177
3, 927, 2S9
120,675
444,191
2,208
231,802
108,420
2,686,933
2,941,854
"i,'806,‘6i6'
195,769
1,650
890,000
. i‘0.82
993,370
46,058,596
68,874
223,027
569,903
44,161
9,509,553
1,150,385
23,254
. 42
$18,583,152
1,327,323
424,468
9,128,881
207,411
7,566,021
30,131,525
87,694
66,003
8,956,840
44,784,177
2,100,571
2,092
231,802
2.257,802
1,930,558
'**'890, 'ooo
. 75i
268
REPORT OF THE DIRECTOR OF THE MINT,
Highest, lowest, and average price of bar silver in London, per ounce British standard
{0.925), since 18SS, and the equivalent in United States gold coin, of an ounce 1 000 fine
taken at the average price. ’ J ’
PRODUCTION OF THE PRECIOUS METALS,
269
Commercial ratio of silver to gold each year since 1687 .
[Note.— From 1687 to 1832 the ratios are taken from Dr. A. Soetbeer, from 1833 to 1878 from Pixley and
AoelPs tables, from 1879 to 1896 from daily cablegrams from London to the Bureau of the Mint, and
since from daily London quotations.]
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
1687 .
1688 .
1689 .
1690 .
1691 .
1692 .
1693 .
1694 .
1695 .
1696 .
1697 .
1698 .
1699 .
1700 .
1701 .
1702 .
1703 .
1704 .
1705 .
1706 .
1707 .
1708 .
1709 .
1710 .
1711 .
1712 .
1713 .
1714 .
1715 .
1716 .
1717 . .
1718 . .
1719 .
1720 .
1721 .
1722 .
1723 .
1724 .
14.94
14.94
15.02
15.02
14.98
14.92
14.83
14.87
15.02
15.00
15.20
15.07
14.94
14.81
15.07
15.52
15.17
15.22
15.11
15. 27
15.44
15.41
15.31
15. 22
15.29
15.31
15.24
15.13
15.11
. 15.09
15. 13
15.11
15.09
15.04
15.05
15.17
. 15.20
. 15. 11
1725.. .
1726.. .
1727.. .
1728.. .
1729.. .
1730.. .
1731.. .
1732.. .
1733.. .
1734.. .
1735.. .
1736.. .
1737.. .
1738.. .
1739.. .
1740.. .
1741.. .
1742.. .
1743.. .
1744.. .
1745.. .
1746.. .
1747.. .
1748.. .
1749.. .
1750.. .
1751.. .
1752.. .
1753.. .
1754.. .
1755.. .
1756.. .
1757.. .
1758.. .
1759.. .
1760.. .
1761.. .
1762.. .
15.11
15.15
15.24
15.11
14.92
14.81
14.94
15.09
15.18
15.39
15.41
15.18
15.02
14.91
14.91
14.94
14.92
14.85
14.85
14. S7
14.98
15.13
15.26
15.11
14.80
14. 55
14.39
14.54
14.54
14.48
14.68
14.94
14.87
14. 85
14.15
. 14. 14
. 14.54
. 15.27
1763.. .
1764.. .
1765.. .
1766.. .
1767.. .
1768.. .
1769.. .
1770.. .
1771.. .
1772.. .
1773.. .
1774.. .
1775.. .
1776.. .
1777.. .
1778.. .
1779.. .
1780.. .
1781.. .
1782.. .
1783.. .
1784.. .
1785.. .
1786.. .
1787.. .
1788.. .
1789.. .
1790.. .
1791.. .
1792.. .
1793.. .
1794.. .
1795.. .
1796.. .
1797.. .
1798.. .
1799.. .
1800.. .
14.99
14. 70
14.83
14.80
14.85
14.80
14.72
14.62
14. 66
14.52
14.62
14.62
14.72
14.55
14.54
14.68
14.80
14.72
14.78
14.42
14.48
14.70
14.92
14.96
14.92
14.65
14. 75
15.04
15.05
15.17
15.00
15.37
15.55
15.65
15.41
15.59
15. 74
15.68
1801...
1802...
1803.. .
1804.. .
1805.. .
1806.. .
1807.. .
1808.. .
1809.. .
1810.. .
1811...
1812...
1813.. .
1814.. .
1815.. .
1816.. .
1817.. .
1818.. .
1819.. .
1820.. .
1821...
1822...
1823.. .
1824.. .
1825.. .
1826.. .
1827.. .
1828.. .
1829.. .
1830.. .
1831.. .
1832.. .
1833.. .
1834.. .
1835.. .
1836.. .
1837.. .
1838.. .
15.46
15.26
15.41
15.41
15.79
15.52
15.43
16.08
15.96
15.77
15.53
16.11
16.25
15.04
15.26
15.28
15.11
15.35
15.33
15.62
15.95
15.80
15.84
15.82
15. 70
15. 76
15. 74
15.78
15.78
15.82
15.72
15.73
15.93
15.73
15.80
15. 72
15.83
15. S5
1839.. .
1840.. .
1841.. .
1842.. .
1843.. .
1844.. .
1845.. .
1846.. .
1847.. .
1848.. .
1849.. .
1850.. .
1851.. .
1852.. .
1853.. .
1854.. .
1855.. .
1856.. .
1857.. .
1858.. .
1859.. .
1860.. .
1861...
1862...
1863.. .
1864.. .
1865.. .
1866.. .
1867.. .
1868.. .
1869.. .
1870.. .
1871.. .
1872.. .
1873.. .
1874.. .
1875.. .
1876.. .
15.62
15. 62
15. 70
15.87
15.93
15. 85
15.92
15.90
15.80
15.85
15.78
15.70
15.46
15. 59
15.33
15.33
15.38
15.38
15.27
15.38
15.19
15.29
15.50
15.35
15.37
15.37
15.44
15. 43
15.57
15.59
15.60
15.57
15.57
15.63
15.93
16.16
16. G4
17. 75
1877.. .
1878.. .
1879.. .
1880.. .
1881...
1882...
1883.. .
1884.. .
1885.. .
1886.. .
1887.. .
1888.. .
1889.. .
1890.. .
1891.. .
1892.. .
1893.. .
1594.. .
1895.. .
1896.. .
1897.. .
1898.. .
1899.. .
1900.. .
1901.. .
1902.. .
1903.. .
1904.. .
1905.. .
1906.. .
1907.. .
1908.. .
1909.. .
1910.. .
1911.. .
1912.. .
17.20
17.92
18.39
18.05
18.25
18.20
18.64
18.61
19.41
20.78
21.10
22.00
22.10
19. 75
20. 92
23.72
26.49
32. 56
31.60
30. 59
34.20
35.03
34.36
33.33
34.68
39. 15
38.10
35.70
33.87
30.54
31.24
35.64
39.74
38. 22
35.33
33.62
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
REPORT OF THE DIRECTOR OF THE MINT,
Domestic production , deposits , and purchases of gold , by
Locality and description.
Philadel¬
phia.
San Fran¬
cisco.
Denver.
New York.
New Or¬
leans.
Carson.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Idaho .
Montana .
Nevada .
New Mexico .
North Carolina
Oklahoma .
Oregon .
South Carolina
South Dakota .
Texas .
Utah .
Virginia .
Washington .
WTvoming .
Other States .
Philippine Islands .
Total .
Domestic refinery bars .
Domestic refined bars . .
Fine ozs
* * **46L 765
Fine ozs .
309. 898
55.463
200. 733
18.236
69.491
2,242.723
4.842
6,909.026
223,096.915
98,512.117
209,982.252
80.865
Fine ozs
1.952
322.824
605.411
32.638
147, 150. 779
151. 179
7.075
40,969.755
1, 187. 768
368. 092
549. 575
278,793.630
1,976.424
5.374
*ii.‘390
4,452.519
42.457
44.602
521.801
Fine ozs.
61.240
396.053
119. 195
129.304
13.226
19.251
59.979
4.551
20.804
17,542.832
42.515
392. 720
17.960
8.991
*2*339
6.377
118.522
.840
117.643
3.961
783.421
12,331.271
10,300. 271
590,895.736
i,*8i.8, 568*827
431,316. 089
414,945.894
140, 125.065
18, 820.470
46,381.080
1,486,852.664
Total .
Domestic coin purchased..
Domestic coin transferre J .
Recoinage, Philippine. .
Foreign bullion refined .
Foreign bullion unrefined .
Foreign coin .
Jewelers’ bars, etc .
Deposit melting-room
grains.
Deposit melting- room
grains, New York.
Deposit melting -room
grains, New Orleans.
Assayers’ proof .
Surplus bullion .
10,300.271
1 13, 405. 000
76,946. 247
2,409,464. 563
633.204
986,387.048
16.097
1,552,054. 214
34,290.293
«8. 296
2, 292.241
30. 948
64,328.691
140. 896
344.066
69. 402
35,443.393
24,734.114
10, 451.161
93.880
15,
654.350
96. 750
611.541
Total .
168,512.172
2,481,536.902
Redeposits:
Fine bars .
Unparted bars .
Mint bars .
413,876.52G
41,007. 810
Total . .
Total deposits .
413,876.526
41,007.810
582,388. 698
2,522,544. 712
02. 293
3. 541
5,241.934
69. 439
145. 125
28. 485
1,007,593.962
819,318.005
819,318.005
Fine ozs
*’*i6.*i57
6*230
Fine ozs
3.091
1,016.839
4.202 40,274.368
42.490
12.712
81.791
41,294.301
81.791 41,294.301
2, 141.748 .
1,149,042.594
217,691.042 50,210.528
38,053.467
206,232.006
240.347
48.375
9. 173
3, 197,661.511
65,354.535
65,354. 535
, 826, 911. 967 3, 263, 016. 046
2,785.414
19. 848
22. 174
11.052
55,239.329
55,239.320
loesas' gain.8’345 fln0 ounces aimual assay coins, 51.619 fine
41,326.527
41,326.527
ounces special assay coins, and 1.442 fine
PRODUCTION OF THE PRECIOUS METALS.
271
weighty during the calendar year ended Dec. 31 , 1912.
Charlotte.
Boise.
Helena.
Deadwood.
Seattle.
Salt Lake
City.
Total.
Fine ozs.
731.495 .
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
Fine ozs.
794.687
399,193.984
99,281.810
211,763.765
147,357.104
526. 105
39,338.475
85, 166.071
380,928.587
20,711.866
7,183.170
392.720
12,937.231
744.433
370,839.557
12.712
22,289.438
8.991
4,271.368
783.421
2.339
12,331.271
1.790
174,898.480
41.993
180.489
54.502
106.115
2.269
306. 121
33,068.714
61,765
12.422
367.627
82,805.448
441.291
1,619.369
17.263
4,863.357
48.797
18,593.420
231.629
7,094.289
1,342.016
699.831
370,245.916
.
1,969.076
40, 944. 7S8
84,335.425
370,245.916
180,708.409
45,946.833
1,816,859.105
461,320.974
3,445,546.556
1,969.076
40,944.788
84,335.425
.475
370,245.916
180,708.409
20.282
45,946.833
5,723,732.635
50,507.099
70,946.247
8.296
1,158,431.906
367,340.313
02,824.415
290,918.290
658. 16S
344.066
69.462
290.250
1,303.549
........ —
9,389. 312
45,767.325
1.402
1,069.971
24.332
.
.943
41.591
3.435
478. 790
8.907
93.984
26.229
172. 5S0
10.710
9.093
.
_ _ ....
.
.
2,015.04;
J 41,065.001
84,752.681
370,255.000
236,981.033
46,434.530
7,733,374.702
.
.
413,876.526
924,080.350
' . I
.
........
.
.
.
1,338,556.876
2,015.04
5 41,065.00;
1 84^752.681
370, 255. 009
236,981.033
40, 434. 530
9,071,931.578
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
2L
22
23
24
25
26
*27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
2 Gold parted from old Spanish coin Included In a
shipment of silver from the Philippines for recoinage.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
REPORT OF THE DIRECTOR OF THE MINT,
Domest ic production , deposits , and purchases of silver , by
Locality and description.
Alabama .
Vlaska . . .
Arizona ...
California .
Colorado ..
Georgia ...
Idaho .
Michigan .
Montana...-.
Nevada...
New Mexico
North Carolina .
Oklahoma .
Oregon .
South Carolina .
South Dakota . .
Texas .
Utah .
Virginia .
Washington . . .
W\
Philippine Islands .
Total .
Domestic refinery bars .
Domestic refined bars . .
Total .
Domestic coin purchased. .
Domest ic coin transferred . .
Hawaiian coin transferred.
Assay coin, Philippine ....
Recoinage, Philippine .
Foreign bullion refined. . . .
Foreign bullion unrefined .
Foreigu coin .
Jewelers7 bars, etc . .
Deposit melting - room
grains.
Deposit melting - room
grains, New York.
Deposit melting - room
grains, New Orleans.
Assay ers’ proof .
Surplus bullion .
Total .
Redeposits:
Fine bar .
Unparted bars .
Mint bars.
Total.
Total deposits .
Philadel¬
phia.
Fine ozs.
53.61
45.59
11.46
25.41
6.61
7,921.84
1.77
902.56
.60
1,893. 72
.97
*2. i2
1.75
.06
San Fran¬
cisco.
Fine ozs.
22,913.60
43,614.13
43,278.51
37.56
43.64
1.49
20,669.90
2,968.26
718. 16
1.84
24. 55
2,788.35
10,868.07
2,283, 133.42
2,294,001.49
1 2, 154.21
386, 558. 10
167.90
51,205.63
147.01
88, 1S7. 77
225.72
499.42
89.71
3,993.59
2,827,230.55
2,827,762.97
137,059.97
401,675.63
538, 735,60
166. 9S
10,824.66
447.26
246,810.41
72,098.84
26.99
18,350. 74
61.55
5,080. 50
892,603,53
915,247.53
Denver.
Fine ozs.
0.69
35.64
1,150. 49
25.33
308,366.28
226. 77
1,116.34
36, 140. 47
17,826.57
13.53
8.46
59.68
New York.
Fine ozs.
8.47
49.99
700.71
22.09
4.40
11. 15
12.36
New Or¬
leans.
Fine ozs.
2.49
4.66
6. 19
808, 130.60
4. 49
64. 97
1.66
Carson.
Fine ozs.
0.96
100. 46
22,238.22
278.50
.42
125.61
1.40
.12
365,374.78
31,500.74
500,823.84
897,699.36
130.93
19, 744. 45
3,628.36
.05
6,770.01
52.48
50.00
928,075.64
1,248,253.98
809,021.60
89,933.48
297,021.63
1, 195,976.71
140.94
5,984.88
425,486. 49
15,067.60
446,695.07
694. 32
2,090,046.01
2, 133, 180.24
10.05
3.20
18.09
18.09
35,239.01
1,^27.55
15.23
22,339.64
22,339.64
10.77
27.85
36,499.88 22,378.26
36,499.88 22,378.26
Kata.267'33 0UnC63 “nUal a33ay °°ins- 80 69 flne ounces special assay coins, and 11.64 fine
PRODUCTION OF THE PRECIOUS METALS,
273
weight, during the calendar year ended Dec. SI, 1912.
Charlotte.
Boise.
Helena.
Dead wood.
Seattle.
Salt Lake
City.
Total.
Fine ozs.
159. 10
Fine ozs.
Fine ozs .
Fine ozs .
Fine ozs.
Fine ozs.
Fine ozs.
168.26
47, 748.20
45,479.64
43,554. 76
308, 449.71
70.32
13,460.88
7,921.84
53,446.81
95,054.92
828,926. 03
1,943.17
64. 97
5,117.72
38. 94
171,700. 78
3.20
883.32
1.75
1,773.27
125.61
.06
2, 788. 35
0.49
24,692.38
13.37
70.85
29.67
11.24
.34
33.76
12,625.25
53.93
87.72
404.60
4. 46
14.74
52,102.81
207.85
3.50
7 O'?
15, 077] 68
44.96
3,847. 18
537.65
.23
30.48
171,627.53
602.86
284. 41
443.30
1,020.59
268.30
16,776.53
52,599.54
171,627.53
26,561.27
16,207. 19
1,628,722.51
2,404,567.64
1,199,521.10
268.30
16,776.53
52,599.54
171,627.53
26,561.27
16,207.19
5,232,811.25
2,593.06
417.127.21
447.26
167. 90
246,810.41
5,984.88
597,638.28
15,242.42
562.244.21
1,324.63
499.42 :
89.71 :
55.00
9,074.09
«•••••#••• ••••
17.25
3.64
30.38
166.98
62.82
32.85
23.92
3.09
17.00
5.00
289.96
16,978.89
52,738.89
171,644.53
37,094.32
16,529.27
7,092,109.73 •
. .
.
.
3,690.57
382,330.66 -
467. 76 •
386,488.99 -
.
. . .
.
.
.
. . .
171,64475
37,094.32
_ _
16, 529.27
7,478,598.72 ■
2M
—
i l6,97fTi
i M/MU®
24950°— H - 18
£5Eo<0 00-l0>Cn
274
BEPORT OF THE DIRECTOR OF THE MINT.
Assets and liabilities of the United States
ASSETS.
Gold bullion.
Silver bullion.
Value of
bullion
shipped
Institutions.
Quantity.
Value.
Quantity.
Value.
coinage.
COINAGE MINTS.
Fine ounces.
Dollars.
Fine ounces .
Dollars.
Dollars .
Philadelphia .
549,843.084
11,366,264.65
114,462,544.75
483,950.88
413,438.54
510.93
293,907.89
241,887.04
500.97
San Francisco . .
5,537,125.605
Bullion for Philip¬
pine coinage.
Denver .
3,414,127.426
70,576,277.54
718,143.75
425,391.61
assay offices.
New York .
2,985.026.805
61,705,980.46
1,293,846.86
733,093.82
2,041.27
1,330.46
1,293.45
401.48
20.44
2,228.38
1,471.33
211.52
New Orleans .
5,037.073
104,126.68
3,227. 83
fuT^nn _ .... _ _
4, 161.897
86,034. 15
2,113.23
2,055.11
66,328.29
53,482.03
Helena . . .
2,906.930
60,091.18
Boise . . .
2,014.557
41,644.61
640.48
Charlotte . - .
180.415
3,729.52
32.44
3,496. 01
128,365. 61
579,247.38
90,626.70
Dead wood
8,092.298
167,287.94
Seattle . . . . . .
11,568.111
239, 133.40
2,337.65
Salt Lake City .
2,168.714
44,831.54
336.05
Total .
12,522,252.915
258,857,946.42
2,924,129.76
1,703,779.66
918,050.01
LIABILITIES.
Institutions.
Bullion fund.
Undeposited
earnings.
Seigniorage
on silver.
Unpaid
depositors.
Minor
coinage
profits.
COINAGE MINTS.
Philadelphia .
San Francisco .
Denver .
ASSAY OFFICES.
New York
Dollars.
420,797,313.92
204,723,137.86
481,517,269.05
64,830,581.00
22,764,396.77
170,305.84
294.395.17
183,526.83
19,078.87
772.386.18
1,047,453.76
284,924.49
Dollars.
3,669.29
15,977.45
Dollars .
178,087.67
24,226.05
274,795.47
Dollars.
39,306.43
405.745.90
645,013.70
2,156.81
73.79
Dollars.
155,297.14
15,193.48
367.90
Kdw OrlcuuiQ
321.94
123. 78
81.05
149. 79
15.68
206.84
163.55
68.84
PoFCAH
U olonQ
> 'DnicQ
\ Phorlnttfl
i Seattle
42.99
2 Salt Lake City .
3 Total .
1,197,404,769.74
20,778.21
477,109.19
1,092,339.62
170,858.52
PRODUCTION OF THE PRECIOUS METALS.
mints and assay offices Dec. 31, 1912
275
ASSETS.
Gold coin.
Silver coin.
Credit with
Treasurer
United States.
Minor coin.
Minor coinage
metal.
Total.
Dollars.
301,174,465.00
24,240,290.00
Dollars.
107,736,083.84
61,899,462.89
Dollars.
447,655.93
4,325,311.70
Dollars.
271,467.38
25,010.71
Dollars.
137,599.81
12,064.31
Dollars.
421,427,444.50
205,206,571.40
402,262,222.50
3,315,722.26
oo 47C rwv\ aa
5,857,464.31
2,393,663.53
183,624.55
73,537.78
166,763.30
88,148.50
15,344.59
474,711.09
59,190.58
331.83
19,798.10
832.80
482,516,066.90
64,832,737.81 ,
22,764,792.50 i
170.429.62 '
294,476.22 J
183.676.62 <
19,094.55 1<
772,593.02 1]
9,420.00
i r.n (wi nn
475, 000. 00
107.23
loU, U00. 00
727,836,397.50
195,426,376.22
77,808.19
149,323.57
14,253,357.04
355,668.67
169, 794.05
1,047,660.30 i:
284,993.33 1J
1,199,521,369.57 It
LIABILITIES.
Minor coin metal fund.
Treasurer United States,
unpaid cent deposi
tors, etc.
Government of the
Philippine Islands.
Total.
Dollars.
Dollars.
Dollars.
Dollars.
86,554.00
167,216.05
421,427,444.50
1
21,142.48
739.06
1,241.92
205,207,404.20
2
31,528.24
47,092.54
482,516,066.90
3
64,832,737.81
4
22,764,792.50
5
170,429.62
6
294,476.22
7
183,676. 62
8
19,094.55
9
772,593.02
10
1,047,660.30
11
284,993.33
12
139,224.72
215,047.65
1,241.92
1,199,521,369.57
13
276
REPORT OF THE DIBECTOB OF THE MIST.
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Production of the precious metals. 277
Imports of gold and stiver in ore, bullion, and coin into the United States during the calendar year ISIt-C ontiuucd
BY COUNTRIES— Continued.
278
REPORT OF THE DIRECTOR OF THE MINT.
PRODUCTION OF THE PRECIOUS METALS. 279
i United States Mint or Assay Office bars.
Domestic exports of gold and silver in ore, bullion, and coin, from the United States during the calendar year 1912 Continued
BY COUNTRIES— Continued.
280
REPORT OF THE DIRECTOR OF THE MINT.
Foreign exports of gold and silver in ore, bullion, and coin, from the United States during the calendar year, 1912
PRODUCTION OF THE PRECIOUS METALS,
m
GQ
w
k- <
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O
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283
805
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32
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8
282
REPORT OF THE DIRECTOR OF THE MINT.
PRODUCTION OF THE PRECIOUS METALS.
Coinage of the United States during the calendar year, 1912.
283
Denomination.
Philadelphia.
San Francisco.
Pieces.
Value.
Pieces.
Value.
Double eagles .
149,824
405,083
790,144
616,197
$2,996,480.00
4,050,830.00
3,950,720.00
1,540,492.50
Facies .
300,000
392,000
$3,000,000.00
1,960,000.00
Half eagles .
Quarter eagles .
Total gold .
Half dollars .
1,961,248
12,538,522.50
692,000
4,960,000.00
1.550.700
4.400.700
19,350,700
775,350.00
1,100,175.00
1,935,070.00
1,370,000
708,000
3,420,000
685,000.00
177,000.00
342,000.00
Quarter dollars .
Dimes .
Total silver .
25,302, 100
3,810,595.00
5,498,000
1,204,000.00
Five-cent, nickels .
One-cent, bronze .
26,236,714
68,153,060
1,311,835.70
681,530.60
238,000
4,431,000
11,900.00
44,310.00
Total minor .
94,389,774
1,993,366.30
4,669,000
56,210.00
Total coinage .
121,653,122
18,342,483.80
10,859,000
6,220,210.00
Denomination.
Denver.
Total.
Pieces.
Value.
Pieces.
Value.
149.824
705,083
1,182,144
616,197
*2,996,480.00
7,050,830.00
5,910,720.00
1,540,492.50
2,653,248
17,498,522.50
2^300,800
*1,150,400.00
5,221,500
5, 108, 700
34,530,700
2,610,750.00
1,277,175.00
3,453,070.00
Quarter dollars .
ii, 760, 666
14,060,800
2,326,400.00
44,800,900
7,340,995.00
8,474,000
10,411.000
423,700.00
104,110.00
34,948.714
82,995,060
1,747,435.70
829,950.60
One-cent, bronze . - .
18,885,000
527,810.00
117,943,774
2,577,386.30
32^945,800
2,854,210.00
165,457,922
27,416,903.80
u. s.
subsidiary
Pieces. value.
Coinage at Philadelphia Mint for Costa Rica: . •
10 centimos . . .
5 centimos .
Value
in
Pieces.
680.000=
000=
000=
000=
0,000
150,000
101,000
30,010
PRODUCTION OF GOLD AND SILVER IN FOREIGN COUNTRIES.
NORTH AMERICA.
British North America.
The report of the department of mines, Ottawa, Canada, gives the
•roduction of gold and silver in British North America for 1912, by
’ro vinces, as follows :
Provinces.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Commer¬
cial value.
Nova Scotia .
4,385
642
86,523
73
251,815
268,447
$90,638
13,270
1,788,596
1,509
5,205,485
5,549,296
Quebec .
9,367
28,912,237
$5,758
17,772,352
Ontario .
Alberta .
British Columbia .
2, 623,616
80,231
1,612, 737
49,318
Yukon .
Total .
611,885
12,648,794
31,625, 451
19,440,165
GOLD.
The total value of the production of gold in 1912 was $12,648,794,
representing 611,885 fine ounces, as compared with $9,781,077, repre¬
sen ting473, 159 fine ounces of metal in 1911.
The Yukon placer production in 1912 was 267,988 fine ounces, val¬
ued at $5,539 808.
Of the total production in 1912 about $6,106,677 were derived from
alluvial workings; $2,270,331 as bullion from milling ores; and
$4,271,786 from ores and concentrates sent to smelters. In 1911
$5,014,207 were derived from alluvial workings; $513,991 as bullion
from milling ores; and $4,252,879 from ores and concentrates sent to
smelters.
The exports of gold-bearing dust, quartz, nuggets, and gold in ore,
etc., in 1912, were valued at $10,014,654, as against $7,493,523 in 1911.
I he gold and silver production of British Columbia was chieflv from
copper matte exported to the United States.
»7JJ loiP°rt? °/ Civin durinS the calendar year 1912 were
$7,496,492 and of gold bulhon $1,360,735.
SILVER.
.Jw producHon of silver contained in bullion, or estimated as recov¬
ered trom mattes and ore, etc., exported was, in 1912, 31,955,560 fine
32 55?nZtalfied at $1V40 165, jis compared with a production of
3^,559,044 fine ounces, valued at $17,355,272 in 1911. About 91.4
284 •
PRODUCTION OF THE PRECIOUS METALS.
285
per cent of the production in 1912 was derived from “Cobalt district”
of Ontario. The production of silver in 1905 was only 6,000,023
ounces and in 1900 4,468,225 ounces. The exports of silver con¬
tained in ores, mattes, etc., in 1912 were 34,911,922 ounces, valued at
$19,494,416, as against exports of 31,216,725 ounces, valued at
$15 807 366 in 1911. The imports of silver bullion during the cal¬
endar year 1912 were valued at $1,100,344, as compared with bullion
imports of $847,645 in 1911.
GOLD.
difficulty is found in o a | viduais or unorganized groups o
bnposed tbereon bf ^^^fowest recorded in 17 yea^or
* in fact' the
“Sot wMeb tSUd industry is on the
Cariboo dist 1 ^jatter with $~3 , lode mining in
&0,000 indJr of th® Proving* vaiue of the jggg &n inCrease, as
the remain ( , mirwriQ’ 1ni2 was $5,32-> 105 per cent .
Gold from lofjZ the year l®1* ^6,929, or ^ the
fho Province during -ou9 year, or ® n madeyim the
=S&R.»=i»- «
Boundary, <" due to tho WB*
Xtossland camp, a
286
REPORT OF THE DIRECTOR OF THE MINT.
Nelson mining division about held its own this year, but there has
been a decreased production in the coast district.
Ihe following are the values of the gold product of the three most
important camps : Rossland, $2,729,949; Boundary, $2,167,229; and
Nelson, $361,994. About 75 per cent of the gold production of the
rrovmce is obtained from the smelting of copper-bearing ones, the
remainder from stamp milling.
SILVER
The total amount of silver produced in the Province during the
year 1912 was 3,132,108 ounces, valued at $1,810,045, an increase in
amount, as compared with the previous year, of 1,239,744 ounces,
and m value of $851,752. *
The year 1911 showed an unduly low production of silver owing to
the labor troubles at the collieries shutting off the coke supply and so
closmg down the smelters, so it is fairer to make a comparison with
earlier years. The silver output of 1912 is the greatest we have had
smce 1905, and exceeds that of 1910, a normal year, by 681 867
ounces in quantity and by $565,029 in value.
, A JeiT la.rS« Proportion of the silver produced in the Province is
found associated with lead-bearing ores, chiefly in the Slocan dis-
^ lerc nunes are still handicapped by lack of transportation
facilities, owing to forest fires having destroyed the Kaslo & Slocan
Kailway, and, in some instances, the plants of the mines.
Mexico.
The diplomatic representatives of the United States at the City of
Mexico have not furnished this bureau with the usual production
figures for 1912, and resort has been taken to other available informa-
Uon, principally the export and coinage figures of Mexico, together
wuh the known importations of gold and silver from Mexico by the
L mted States and Great Britain.
The production is estimated at $24,500,000 gold and 74,640 300
tine ounces of silver. ’
Central American States.
. The production of gold and silver in the Central American States
is usually arrived at by assuming that their export fionres reDre^ent
their product The following talile is compiled, for tlie most ^t
from L mted States import figures :
States.
G
old.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Comm nr.
cial value.
Costa Rica .
27.061
671
10, 100
43,818
6.807
58,137
$559,406
13.865
208.790
905.795
140, 717
1.201.792
57S.S61
*355. S26
Vi UulcUlala
Honduras . .
Nicaragua. . .
Panama . .
2. ios, si3
37,231
118.435
2.614
i, 296. 287
22.S86
72,802
1,607
Salvador . .
Total .
146.594
______________
3,030.365
2. 845.954
1,749.408
PRODUCTION OF THE PRECIOUS METALS.
281
Costa Rica.
The returns from Costa Rica state that the gold and silver pro¬
duced from mines of the country during the year 1912 was as follows:
From deep mines, gold, $461,722; silver, $355,826.
The Government of Costa Rica has no department of mines, and
therefore no accurate mining statistics. From available statistics
it is impossible to estimate the weight of gold and silver in kilograms,
fine, as called for.
The imports of gold ore and bullion from Costa Rica into the
United States during 1912 amounted to $559,406, which is accepted
in lieu of the above statement as the gold product for 1912.
Guatemala.
The importation of gold ore and base bullion into the United States
from Guatemala in 1912 was valued at $13,865, which amount is
accepted as the product of that State.
Honduras.
The returns from Honduras J^g^^w^as'foUows:
produced from mines of the country during
Gold, *6,532.85; silver, 81 ,296,28b.M. United States
The imports of gold bullion ore uux> t $208,790, which
from Honduras during the year 1912 were valued a
amount is accepted as the product of that State.
Nicaragua.
The American minister at .peTountry cfuring 1912 was ^fol!^:
silver produced from mines of the count y^ ^ $905;794.35; silver,
largely to United
The total domestic production w
States and England. Panama.
follows :
Product for 1912.
Domestic production:
From copper ores .
Total..
Kilograms
(fine).
Value.
. *"*’
.
2,748.430
’ 24.832
2.951
$134,975.30
5 175.30
566.00
#••*••***
“ 2,776.213*
140,716.60
- ^—1— ^ - ';"oro' into the United States
, .liver bullion and ore
The imports of s“T® s72 »02.
Panama were valued at
from
288
REPORT OF THE DIRECTOR OF THE MINT.
Salvador.
The figures of the imports from Salvador furnished this bureau by
the United States Bureau of Statistics, Department of Commerce,
were as follows: Imports, gold, bullion, and ore, $1,201,792; silver,
$1,607.
SOUTH AMERICA.
Argentina.
The American consul general at Buenos Aires reports that the gold
and silver produced from mines of the country in 1912 was as fol¬
lows: Gold, 21.444 kilograms, fine, valued at 11,965.75 pesos;1 silver,
1,026.190 kilograms, fine, valued at 16,419.02 pesos.1
This data, with respect to the production of gold, is not complete,
as the alluvions auriferous, in accordance with Argentine law, is for
public use, by virtue of which the greater part of the gold obtained
can not be estimated.
The report of the United States Bureau of Statistics, Department
of Commerce, shows that the imports of gold bullion were valued at
$107,350 and of silver bullion $50,403, representing 5,193 fine ounces
for the gold and 81,996 for the silver.
Bolivia and Chile.
The report from the legation of the United States at La Paz, Bo¬
livia, was as follows: Gold and silver produced from mines of the
country during the calendar year 1912: 2 Gold, from placer minin°f
2435.520 ounces, fine; silver, from deep mines, 1,906,913 ounces’
No report was received from Chile.
In _ estimating the product of gold and silver in Bolivia and Chile
+lbureau’ ? .ha\beei\the custom to accept the import figures
probable ptod°u"tS“ ^ '**" °0lmtrleS pluS their « “>e
«n^°ollVia is C0™PeJled to exP°rt through some port of Peru or Chile
and consequently does not get credit for her exports, thus makW it
aimost impossible to separate Bolivia’s product from Chile’s ^
The following table gives the value of gold and <41™ k«iY a
ore imported from Bolivia and Chile
Country.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Commer¬
cial value.
Great Britain .
United States . .
428
8,039
$8,857
166,184
2, 228,662
1,821,194
$1,369,969
1,119, 4SS
Total .
1 Argentine gold.
8,467
175,041
4,049,856
2, 4S9, 457
■ la «kr f «««»., .to kll w milltlpM by ajM ^
PRODUCTION OF THE PRECIOUS METALS.
289
There was no gold or silver coinage reported for either Bolivia or
Chile.
Consul Alfred A. Winslow, Valparaiso, in Daily Consular and
Trade Reports, for March, 1913, states that in 191 i the production
of gold in Chile was $365,058 and in silver $419,746.
[Chargd d’ Affaires Charles E. Stangeland, American Legation, La Paz, in Daily Consular and Trade
Reports, August 20, 1913.)
The production of gold in Bolivia is of small importance, but
Sefior Don Castro Rojas, the director general of customs, declares
that Bolivia will yet surprise the world with its production of this
metal. That the statistics of gold and probably other minerals are
only approximations and subject to large errors is seen in the figures
provided by the statistical office and in those of the customs office.
For 1911 the customs office gives the gold production as 35.6 kilos
(78.5 pounds avoirdupois), while the statistical office states that it
was only 9.4 kilos (20.7 pounds avoirdupois). In 1895 the pro¬
duction amounted to 450 kilos (992 pounds). It renamed at about
this level, according to the bulletin of £• lUMM A office un g
what ithad beenf^ Mr? Roj as^nriew may be
inB“ gold ami silver export/forthe last two years have been
Classification.
1911.
1912.
$22,313
1,784,633
$23,039
1,676,704
Silver . . . . .
Brazil.
The production of silv ?r th toe
f^sta^ti^ are^collected^as to the arnoimt^of^gohi prot uc
approximation can beanyed atto^^ ex'cludvelytoeproduc^of
herefrom a considerableam' 'within the counts ^'"^remavailable.
ilacer mines — which is unfortunately, no “gu nnfrv and these,
>f jewelry, and upon w i _ > ^ mines in the c . ^ product
There are oidy two large deep other large port^eir^^ ^
>eing nearer Rio do Ja^r°0unts to 4,014,1/5 gra ,
s shipped therefrom rdacer mines and
>,524,660 milreis. , t without exceptm I and Santos,
from the porta -
is follows:
Ports.
Maranhao .
b&QtOi •■•••••**
Total .
Quantity.
Value.
_
— — - H
.
Gram .
10,600
2,000
Milrfis.
11,645
3,250
.
12,600
14,895
24950°— M -
290
REPORT OF THE DIRECTOR OF THE MINT.
The small silver export is entirely from Rio, and amounts to
842,344 grams, valued at 45,721 milfeis. (The total value of these
exports was 6,585,276 milreis, or S3, 595, 561 in L nited States money)
representing for the gold S3, 570, 597 or 172,728 fine ounces, and for
the silver S24,963, or 40,610 fine ounces.
Brazil has no colonies, and no dry or siliceous lead or copper ores
are produced.
Colombia.
No official information has been received from Colombia regarding
theproduction of gold and silver during 1912.
The exports of ore and bullion from Colombia in 1912 were as
follows :
Country.
Gold.
Silver.
Fine
ounces.
Value.
Fine Commercial
ounces. value.
United States .
86,899
64,125 |
2,733 1
$1,796,354
1 1, 118, S63
56f 496
69.115
518,563
$42,485
318, 764
Great Britain .
Germany .
Total .
143,757
2,971,713
587,678
361,249
In the absence of any production figures the above export figures
are accepted as the product for 1912.
Progress of Mining in Colombia.
By Silas Weight.
[From The Engineering and Mining Journal, New York, Feb. 22, 1913.]
The total production of gold, silver, and platinum of the depart¬
ment of Antioquia m 1912 was approximately S3, 500, 000, somewhat
less than in previous years. This total represents prineipallv gold
resulting from both quartz and placer operations, throughout the
entire department of Antioquia proper, which includes the mining
districts of Mamzales as well although this now is part of the depart
ment of Caldas. The greater part of this gold is shipped to hew
I ork and to London, monthly shipments of gold bars from Medellin
bemg from §150,000 to $300,000. The quartz regions of Antioquia
are as a rule m the higher and more healthful region? while the nlacers
are lower down along the rich alluvial streams where often uXdth^
conditions prevail. Platinum is found in
the Atrato region, and it is mined by the native*? 0n**T u!
by washing the sands and river travels q;i & m* a desultory wa.T
£oun,l With0 gold in certain “
*****
* * *
Ecuador.
XepTed)^01 Smci0US vaTued al 835,33S sucresTweigh t
291
PRODUCTION OF THE PRECIOUS METALS.
The value of the above product in United States money is $406,51 7,
representing 19,665 fine ounces. As no information was received
regarding the silver products the figures for 1909 (the latest returns),
viz, 22,642 fine ounces of the commercial value of $13,918, are
repeated for 1912.
The Guianas.
BRITISH GUIANA.
The American consul at Georgetown reports that the gold produced
from mines of the country during 1912 was as foUows: From deep
mines, 1,574 ounces; from hydraulicing and dredging, 9,821 ounces;
and from placer washings, 38,879 ounces; a totaT of 50,274 ounces,
valued at $879,790.51 . This valuation represents 42,560 fine ounces.
No silver produced. There was exported to Great Britain, silver
in ore, of the value of £91,480, equivalent to $445,187, representing
724,235 fine ounces.
DUTCH GUIANA.
The American consul at Capetown states _that thegold pmduced
from mines of the country d unng ounces Valued at $407,273.
follows: Gold, from placer mining, 23,897 ounces, value
The value represents 19,702 fine ounc
FRENCH GUIANA.
1 of Paris reports that the gold produced
The American ambassador a kilograms, fine, valued a
in French Guiana during 1912 L^fqoso 558 in United States money,
15,806,000 francs, which represent $3,05U,oo
or 147,571 fine ounces. pERTJ
. The American minister^t^
This vahi? represents ^256,
The silver product ^7 ! (Peruvian), which isequM ' d for
value of which was £926^12 0*^ This product > „ ^ w.
representing 8,351,563 f the silver for
1912. The commercial value 1911.
Gold Production _
in““,T*Wta*ey*,,r 191 ■
grams, cornparedwith 707,923 productio„ o_f
of 33,296 kilograms. d principally. ^WI1 to carry an ai p
This increase ofJunin, which is ^
copper in the department o
ciaole amount of gold
292
REPORT OF THE DIRECTOR OF THE MINT.
Resume of the product of gold in 1911 .
Description.
Weight of
the gold
contained.
Commercial
value.
Peruvian
Bars of smelted gold .
Gold beads and gold dust from placers
Amalgams (crude) .
Gold and silver bars .
Silver bars and cone-shaped silver .
Copper bars .
Silver sulphides .
Copper matte .
Gold ore .
Silver and copper ore .
Kilograms .
117,913
169,506
12,548
8,330
8,140
368,839
19,353
1,222
16,386
18,982
\ pounds .
16,103 2
23,149 2
1,713 6
1,126 6
1,111 6
50,371 1 47
2,642 7 82
166 8 87
2,173 0 31
2,593 8 11
Total
741,219
101, 152 1 31
The valuation of this product has been made, as in previous years,
by calculating the gold at the price of 136-5-69 Peruvian pounds
per kilogram, fine, which value was derived from the weight of fine
gold contained in the Peruvian pound of 7.32228 grams.
In valuing the gold contained in the gold ores they have deducted
the amount of the expenses which would attend tneir exportation
and sale in Europe. In the other products, where the gold exists as a
secondary species, they have considered their integral value, but the
expenses are indemnified by the accompanying metals.
The gold bullion, whether melted into bars or derived from wash¬
ings, has not been decreased because of its gratuitous coinage in the
mint.
Production of gold and its value, from 1903 to 1911, inclusive.
Year.
Fine
weight.
Commercial
value.
1903 .
Kilograms.
1,078
601
777
1,247
778
977
Peruvian
pounds.
14^ 9 k\K
1904 .
75, 102
100 002
1905 .
1906 . .
170 Qcc
1907 .
A IU, OOO
lOfi 20^
1908 .
lCv, ttUJ
AOO, uoo
Year.
Fine
weight.
Commercial
value.
1909 .
Kilograms .
Peruvian
pounds .
7 c cno
1910 .
<0, OUo
96,612
ini iv>
1911 . .
rfUO
741
t
1U1, 10^
Total (9 years) .
7,461
1,009,332
The production of silver in 1911 was 289,383 kilograms or 36 818
kilograms more than in 1910. This increase w^s o& prin¬
cipally to the. larger production in the departments of JumnP™d
ThTChus6 &ClM,n';!f^lSeS’,Tlie 'le Pasco Mhung™. and
siderable proportion Al=o°;’ '(H|Ve developed their works in con-
PRODUCTION OF THE PRECIOUS METALS.
293
Rtsum* of the product of silver in 1911.
Description.
Weight of the
silver
contained.
Commercial
value.
Copper matte .
Kilogram.
i on qci aao
Peruvian
pounds.
400 >4 10 r
Copper bars .
129, ool. UU3
71 IKQ OQ9
429,413- 5- 18
99C COO c on
Sulphides from lixivia tion .
/i,uoy. yyz
95 03 1; non
16 0, bo 2- 5- 30
07 ino n ^n
Silver and copper ores .
Ml, uOO. UW
1 A 703 737
oi, ±uo- y— OU
8Q 4AA__ 9_ jn
Silver and lead ores .
Iv, 4 I/O. 404
IS 840 S7Q
0*7, TllV"
QQ A40 n AH
Silver ore and silver concentrates .
10, o*xu. O 1 *7
16,340. 353
9,380. 720
9. 087
0*7, U“l7^ J OU
45,170- 0- 40
32,412- 6-69
32-0-00
Silver in bars and cones .
Gold and silver bars .
Copper cement .
83. 525
289- 7- 34
Lead slags . . .
123.000
438- 1- 26
Lead bars .
4,055.230
14,155- 0-32
Total .
289,382. 966
926,712- 8- 09
The price of silver in 1911 was as follows:
Price of silver.
Highest price .
Lowest price .
Average price .
In
New York.
Cents.1
56. 750
61. 125
53. 287
In
London.
Pence*
26. 125
23. 687
24. 602
j per standard ounce, troy (0.925 fine).
* Per line ounce, troy.
. These are the prices that have served as a
silver product. The silver bullion in b exportation; the silver
with a deduction of 3 per cent for exP®^®, deduction of 2 per cent
contents of the copper and lead bars the copper and lead,
for refining, charging the remaining d therein; the silver con-
which were the principal metals c ^F'no'lish) from the value of a
tained in matte by deducting 1 Pel“.y induction in Europe, and by
troy ounce, which is the cust0J™^ f exportation, the remainder
deducting a portion of the expenses ot exp
being charged to copper. thev deducted all the expenses
In the properly called silver ^^markete; in the copper
which would attend their sal» u I' , pdivided between the cojjpu
and lead ores those expenses have bee^ taining to each metal,
and the lead in proportion to M„mm, fine, from ms to
Year.
Total (9 years) .
Weight-
Commercial
value.
Price per
kilogram, fine.
*'**$ ?*»
145,166
191, 4<6
230,2?*
207,810
199>1
207,656
252,565
289:383
Peruvian
530, 375
729,444
972,958
869, 23S
651,1?1
039,650
795,3-0
926, 713
Peruvian
Tt 08
3-8-08
4-0-40
4- 4- 48
4- 3- 70
3- 5- 35
3- 4- 31
3-5-73
3-5-62
- MSMW5-
6^95^8
294
REPORT OF THE DIRECTOR OF THE MINT.
Uruguay.
The American minister at Montevideo states that the gold pro¬
duced in 1912 was 167 kilograms, equivalent to 5,369 fine ounces,
valued at $110,987.
Venezuela.
The imports of gold and silver bullion and ore from Venezuela
into Great Britain and the United States in 1912 were as follows:
Country.
, Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Commer¬
cial value.
fipoat Rritnin . . . .
27,215
2,947
$562,582
60,924
122,303
$75,179
United States .
Total.... . . . . . . .
30, 162
623,506
122,303
75,179
Gold Mines op Venezuela.
[From Bulletin of the Pan American Union, March, 1913.]
The Petaquire gold mines are probably the oldest auriferous
mining property in the Republic, having been discovered and worked
in 1560 and 1561. From 1573 to 1580 these mines were profitably
exploited, but after that time work was suspended and the mines
remained untouched until 1839, when they were rediscovered by
means of ancient charts and descriptions, but during the interval of
73 years thereafter were again left untouched. The property has
recently been opened and work has again been commenced m the old
shafts and galleries, and tunnels which have been found practically
intact. Recent reports are very flattering as to the future of these
mines. The surrounding district is a highly mineralized gold region
and it is predicted that considerable gold mining activity will be
developed in that part of Venezuela in the near future.
EUROPE.
Austria-Hungary.
The American consul general at Vienna reports that the gold and
silver product of Austria was as follows :
1912.
Gold.
Silver.
Kilograms
(fine).
Value.
Kilograms
(fine).
Value.
Domestic production:
From deep mines .
From dry or siliceous ores .
17 rnm lno Aroc
267
Crmcns.
822,271
35,693
Crowns.
3,533,500
r ruin ltau. ores. . . . . .
From copper ores .
From gold ores (a by-product) .
11,700
88
96
1,158,380
8,805
9,373
Total .
267
822,271
47,577
4,710,058
PRODUCTION OF THE PRECIOUS METALS. 295
I
Hungary.
The gold and silver product of Hungary during 1912 was as follows:
Items.
, Gold.
Silver.
Kilograms.
Value.
Kilograms.
Value.
From deep mines .
T7 taI 1 1 /lAt* TY1 \ no .
2,811.84845
6.08106
Crowns.
9,222,862.91
19,945.87
9,002.598
Crowns.
862,508.99
Total .
2,817.92951
9,242,808.78
9,002.598
862,508.99
In the Hungarian refineries there were produced during 1912:
296
REPORT OF THE DIRECTOR OF THE MINT.
Colonial production ( Boina , Kongo).
Gold.
Silver.
Product of 1912.
Kilograms.
Value.
Kilograms.
Value.
899.360
Francs.
3,091,000
112.800
Francs.
11,506
p rom QCvp mulcS miu puau aimuo. . .
France.
The American ambassador at Paris reports that the gold product
for 1911 was 2,726 kilograms fine, valued at 9,389,000 francs, equiva¬
lent to $1,812,077 in United States money, representing 87,659 fine
ounces, the silver product was 15,043 kilograms fine, of> the com¬
mercial value of 1,369,000 francs, equivalent to $232,108 m United
States commercial value, representing 429,831 fine ounces.
The above quantities are repeated for 1912, the value of the
silver being $264,217. _
As to silver, French smelting works produced in 1911 42,2-/
kilograms, of a value of 4,300,000 francs. The native production
of the mines is included in these figures.
Germany.
The American ambassador at Berlin reports that the gold and
silver production of Germany for 1911 was 117.54 kilograms of
fine gold and 155,044.39 kilograms of fine silver, from native ores.
The weight of the gold is equivalent to 3,778.911 fine ounces, repre¬
senting $78,117, and the silver is equivalent to 4,984,677 fine ounces,
of the commercial value of $2,691,726. In the absence of detailed
information the figures for domestic production for 1911 are re¬
peated for 1912, the silver valuation being $3,064,081.
The smelting-house product of gold and silver in the years 1911
and 1912 was as follows:
Fine gold extracted.
Weight.
Value.
Fine silver extracted.
Weight.
Value.
1911 .
Kilograms.
4,967.000
7,730. 470
Marks.
13,874,000
21,574,000
1911 .
Kilograms.
439,579.99
595,469.40
Marks.
32,133,000
48,886,000
1912 .
1912 .
The figures of 1912 are higher because in 1912 the amounts ob-
, , ., « , , foreign by-products were taken account
of, while m former years only the output of inland and foreign metal
and scrap was counted.
The separation of the different sources from which the gold and
tlr> °"ubjrttaI11 18 n° more a ^ea^,ure the statistical reports upon
Great Britian.
The American ambassador at London reports that the gold product
f fGteftio?--oan f°r 191r was valued at £5,709, which is equiva-
Ient ^A2,'’7!3’ representing 1,344 fine ounces. The silver product
•was ll2,ibj tine ounces, of the commercial value of $69,990.
PRODUCTION OP THE PTi'Rf’Trmc! nrr,
^ PRECIOUS METALS. 297
The British Home Office has i«niAri ,
statistics for 1912 of the mines operated under life*8 T’lrf the
mines act. The gold production forP 191 1 and 1912 w„9
- m
Classification.
1911
1912
Decrease.
Gold ore .
Long tons.
9 7^9
Long tons.
1 f\*7
Long tons.
/ oz
11)7
2j 582
The mining of gold nearly ceased in 1912.
Greece.
According to the Statistique de L’ Industrie Minerale, Paris, 1913,
the silver product of Greece for the year 1911 was 25,000 kilograms,
which is equivalent to 803,750 fine ounces, of the commercial value
of $434,025. The same quantity, 803,750 ounces, is repeated for
1912, valued at $494,065, according to the average price ol silver lor
that year.
Production of silver in Greece, 1906-1910, inclusive.
[From the French Mint report for 1912.]
Year.
1900.. .
1907.. .
1908.. .
1909.. .
1910.. .
Weight.
Value.
Kilograms.
32,300
21,907
24,887
24,690
27,352
Francs.
2,179,122
2,414,000
2,190,056
2,518,380
2,461,600
Italy.
The American embassy at Rome reports that
iced from mines of the count ^ which is equivalent t prod_
' ,200 grams, valued at 57,- ^ fine ounces. 1275,239,
nited States money, representmg S^ eqmv alent to *270,
:t was 14,363 grams valued at ,
presenting 447,761 fin0 01111
Norway. that the
Fa office at Christiania rep 290,928
The American consul genera' 0UIltry $152,439, repre-
lrer produced crowns, eqmvalent
ances, valued at 568, ou •
silting 247,988 fine ounces. ^ ^ 1907-1911, Inclusive.
Silver ^
Production of Gold and k t Report f°r 19l2‘J • *1,0
of small
The production of ldlogram!”
est years it scarcely amounted
,027 kilograms.
298
REPOET OF THE DIRECTOR OF THE MINT.
With regard to silver, the quantities produced from the mines of the
country during the last five years were as follows:
Year.
Weight.
Commercial
value.
1907 .
Kilograms.
6, 665
7,269
7,976
8,076
8,725
Crowns .
510,000
530,000
497,000
520,000
541,000
1908... . .
1909 .
1910 .
1911 .
Portugal.
The American minister at Lisbon reports that the gold and silver
produced from mines of the country durmg 1912 was as follows: Gold,
3.514 kilograms, fine, valued at $2,333, representing 113 fine ounces;
silver, 4,646 kilograms, fine, valued at $126,519, representing 205,822
fine ounces.
Russia.
The American ambassador at St. Petersburg reports that the fol¬
lowing are the amounts of gold and silver received from the refineries
and shops of the Altai, and from individuals: 1,107,715.18 ounces of
pure gold, valued at 41,163,028.58 rubles, and 149,388.85 ounces of
pure silver, valued at 238,830.95 rubles. These values in United
States money are for gold $21,198,960, representing 1,025,500 fine
ounces, and for silver $122,998, representing 200,094 fine ounces.
An additional amount of $1,000,000 is added to the gold product for
exportation of gold contained in ores.
Russian Gold Production and Concessions in the Altai.
[From the Economist, London, Feb. 8, 1913.)
A correspondent reports from Ekaterinburg that: “The centenary
. ™ght of Russian subjects to carry on the industry of gold mining
in the Ural Mountains has just occurred, for until 1812 all rights wrere
reserved to the Imperial Government. Although the deposits of gold
untTl fh?W r^.?n01TU-S’ ‘J16 min“§ industlT “ade little progress
until the introduction of private enterprise and its application to a lln-
V>ofnetZ, which had b^enabout^OOO
vfam £315 000 w^'tbA m th£ years 181(T1820. In the next four
twe?n^ 1848 andTf^ Tn Tge figU,ne’ Whlch reached £2,313,000 be-
n lb48 and 1855. In the year 1911, £6,160,000 xvas extracted.”
******
Servia.
gold^and^ilvei^fro^^rdi^s of j?utdlare®^ reports that the product of
Gold, 13,42? ouTes“?alued^ ®2“t5L*"“W as follows:
24,132 fine ounces.
PRODUCTION OP THE PRECIOUS METALS.
Spain.
299
equivalent to $3,167,320, representing 5,152,626 Corned There
is no production of gold at the present time.
Sweden.
The American legation at Stockholm reports that the gold and silver
produced from mines of the country during 1912 was as follows:
30.559 kilograms of fine gold, valued at 75,910 kroner, and 961.723
kilograms of fine silver, valued at 73,861 kroner. These values in
United States money are equivalent for the gold to $20,344, represent¬
ing 984 fine ounces, and for the silver, $19,795, representing 32,202
fine ounces.
Turkey.
The American consul general at Constantinople reported the gold
product of Turkey for 1909 at $473, and the silver product at $927,664.
The gold value represents 23 fine ounces and the silver 1,509,133 fane
ounces. As no report has been received since 1909, the figuies oi
that year are repeated for 1912.
Production 0/ precious metal, in Turley, 1 906-1910 , inclusive.
[From The French Mint Report for 1912.] _ _ _
Year.
1906.. ..
1907.. ..
1908.. .
1909.. .
1910.. .;
Gold.
Weight.
Value.
Kilograms .
50
66
.
Francs.
147,543
202,825
3
Year.
1906..
1907..
1908..
1909..
1910..
Silver.
Weight.
Kilograms.
17,176
21,232
248
Value.
Francs.
1,900, 136
2,256,284
50,000
ASIA.
British India. ^ £a]cutta reports
e American vice counsul jfZ>m^neS of t!ie j0a 0777)95
the gold and silver produced from^ ^ valued at 3^^.
was as follows: Gold, 5€ , United States ni (all from
* or £2,271,806, eg*"** £ces. The sJver or £Uj829,
representing 534,822 m valued at 1
ores) was 93,476 ounce , . 93,649 filie
ralent to $57,566, representing
CB"Ther production
China publishes no statistics <>he import^Berfin reports that
irse is had to the fig g anlbassado
i by other countries.
300
REPORT OF THE DIRECTOR OF THE MINT.
the gold imports of bullion from China in 1912 was 2,720 kilograms
fine, equivalent to 87,448 ounces of the value of $1,807,711.
The thirteenth financial and economic annual of J apan states that
the value of gold bullion imported from China by Japan during 1912
was 282,389 yen, equivalent to $140,630, representing 6,803 fine
ounces.
The under secretary to the Government of India reports that the
gold bullion imported, from China by India in 1912 was valued at
296,910 rupees, equivalent to $96,328, representing 4,660 fine ounces.
The annual statement of the trade of the United Kingdom gives
Great Britain’s imports of gold bullion from China during 1912 as
2,750,866 ounces, valued at £331,700, equivalent to $1,614,218,
representing 78,088 fine ounces.
The following table is compiled from the above amounts :
Countries importing gold.
Fine
ounces.
Value.
Germany . . .
87,448
6,803
4,660
78,088
31,807,711
140, 630
96,328
1,614,218
Japan .
British India .
Great Britain .
Total . I .
176,999
3,658,887
MINING IN KWANGSI (SOUTH CHINA).
[Consul General George E. Anderson in Daily Consular and Trade Reports, Dec. 31, 1913.]
The commissioner of customs at Wuchow reports:
The silver mines in Kweihsien, in which so much money has been lost by Chinese
capitalists in the last two decades, have been taken over by a new Chinese syndicate
with a working capital of $100,000 local currency.
Indo China.
The Statistique de LTndustria Minerale for 1913 states that the
production of gold for 1911 was 112 kilograms, equivalent to 3,600
fine ounces of the value of $74,419. The figures are repeated for 1912.
Japan.
The American ambassador at Tokyo states that the gold product
of Japan for 1912 was 1 378,190 momme, valued at 6,688,360 yen,
and the silver product, 39,709,280 momme, valued at 5,956,390 yen.
The value of the gold is equivalent to $3,330,803, representing 161,128
ounces lme, and the silver product is equivalent to $° 966 282
representing 4,825,576 ounces fine. 4 1 ,
valued at°^94 047^n11Obai W&S £°ld, 443,855 momme,1
87 510 ven- d g°^ °\e> 3’365>773 “kwan,” valued at
54 964 ounces finp ^Tb u equivalent to $1,136,215, representing
momme valued ^t 13? 4?rSllver pro.du^ of Formosa was 896,802
- ^L-_d at 13">416 yen, equivalent to $65,943, representing
* 1 momme Is equal to 3.75 grams, and 1 kwan is equal to 3.75 kilograms.
PRODUCTION OF THE PRECIOUS METALS.
301
107,276 ounces fine. (Definite figures for the calendar year 1912
are not available, therefore approximate figures are given as above
by competent authorities.)
The totals are, for gold, 216,092 fine ounces, valued at $4, 467, 018,
and for silver, 4,932,852 fine ounces, at a commercial value of
$3,032,225.
Corrected figures taken from the thirteenth financial and eco¬
nomic annual of Japan for both Japan and Formosa for the years
1910 and 1911 are as follows: 1910, gold, $3,903,649, representing
188,839 ounces fine; silver, $2,474,071, representing 4,581,613 ounces
fine; 1911, gold, $4,118,632, representing 199,239 ounces fine, and
silver, $2,407,907, representing 4,459,087 ounces fine.
Chosen (Korea).
The American consul general at Seoul, Chosen, reports that gold and
silver produced from mines of the country during the year 1912 was as
follows :
1912.
Gold.
Silver.
Momme
and kwan.1
Value.
Momme
and kwan.1
Value.
Domestic production:
From deep mines (gold ore) —
Momme. . - .
974,872
708,020
167,087
1,393
$2,302,223
213, 728
333, 899
2,710
38,407
$2, 677
Kwan _ ............
Prma nlaepr minin? _ ............
From dry or siliceous ores .
Total .
58,846
4,837
2,852,560
7,514
1 1 momme is equal to 2.4113045 pennyweights (troy); 1 kwan is equal to 10.0471021 pounds (troy).
These values represent for the gold 137,993 fine ounces and for the
silver 12,224 fine ounces.
Siam.
In the absence of any information regarding the gold product for
Siam for 1912, the figures for 1910 are repeated for 1912, viz, 85 kilo¬
grams, valued at 170,100 ticals, representing 2,733 ounces, valued at
$56,496. No silver is produced in the country.
East Indies.
BRITISH EAST INDIES.
The report of the Department of Mines of Western Australia, 1912,
gives the product of gold in the territory of Papua during 1912 at
15,233 ounces, fine, valued at £64,705, which is equivalent to
$314,887.
302
REPORT OF THE DIRECTOR OF THE MINT.
BRITISH NORTH BORNEO.
No official information has been received giving the gold product
of British North Borneo since 1907, when the product was estimated
to have been 41,751 fine ounces, valued at $863,070, which figure is
repeated as the product for 1912.
FEDERATED MALAY STATES.
The American vice consul general in charge at Singapore reports
that the gold production of the Federated Malay States for 1911 was
valued at £35,760, equivalent to $174,026, representmg 8,418 fine
ounces. These figures are repeated for 1912. . _ ... ,
The total product of the British East Indies, viz, Papua, British
North Borneo, and Federated Malay States, is 65,402 fine ounces, of
the value of $1,351,983.
DUTCH EAST INDIES.
As there has been no report received by this bureau relative to the
Netherlands’ Indies during 1912, the gold figures for 1910, viz, 163,852
fine ounces, valued at $3,387,131, and the silver figures for 1909, viz,
465,980 fine ounces, of the commercial value of $286,438, are repeated
for 1912.
AUSTRALASIA.
The report of the Department of Mines, 1913, Western Australia,
gives the gold product of the Commonwealth of Australia for 1912,
and the forty-third annual report of the deputy master and comp¬
troller of the mint, London, 1912, gives the silver product as follows:
States.
Gold.
Silver.
Fine ounces.
Value.
Fine ounces.
Commercial
value.
1,282,658
480, 131
347,946
165,295
37,973
6,592
5,337
310,962
$26,514,894
9,925, 189
7, 192,682
3,416,951
784,971
136, 269
110,326
6,428,155
150,065
25,188
269, 181
13,514,249
$92,245
15,483
165,465
8,307,209
Torri fnrv _
779,261
479,012
2,636,894
54,509,437
14,737,944
9,059,414
AFRICA.
The value of the gold product of Africa for 1912 was $211,850,665
representing 10,248,276 fine ounces, and the commercial value of the
silver product, $749,686, representing 1,217,554 fine ounces.
PRODUCTION OF THE PRECIOUS METALS
303
Transvaal.
West Coast.
French colonies.1
Rhodesia.*
Total.
X Car.
Weight.
Value.
Weight.
Value.
Weight.
Value.
Weight.
Value.
Weight.
Value.
1889..
1890..
1891..
1892..
1893..
1894..
1895..
1896..
1897..
1898..
1899..
1900..
1901..
1902..
1903..
1904..
1905..
1906..
1907..
1908..
1909.
1910.
1911.
1912.
Kilos .
11.719
15,706
22,398
34,938
42,573
59,730
66,045
65,874
86.720
119, 190
107,410
9,215
8,026
52,514
92,468
117,371
, 152,707
. 179,980
. 200,66c
. 219, 47£
. 226, 90^
. 234, 121
. « 256, 64^
. 283,311
•
$7,788,372
10,438,356
14,885,639
23, 220, 108
28,293,831
39,696,330
43,893,300
43,779,669
57,633,861
79,213,953
71,384,561
6, 124,226
5,333,994
34,901,140
61,454,439
78,004,559
101,489, 199
► 119, 618,507
. 133,361,943
i 145,862,971
f 150, 799.88C
>155,597,201
S 170,566, 15S
3 188, 293, 09(
Kilos .
1,270
1,062
1,289
1,528
977
865
995
945
751
518
422
326
216
109
2,028
2,544
i 4,351
6,426
1 8,456
8,687
) 7,381
> 5,536
) 8,428
) 10,963
8844,262
705,705
856, 730
1,011,924
649,695
574,653
661,630
627,938
499,311
343,928
280,185
216,873
143,813
6,552
1,347,845
1,690,770
2,891,928
4,270,685
5,620,248
5,773,333
4,905,461
.3,679,000
i 5, 601, 117
17,286,022
Kilos .
261
261
261
4 261
261
261
261
261
640
189
344
1,115
958
1,127
1,701
2,143
2,312
2,086
2,712
2,801
3,098
3,842
2,854
: 3,076
8173,461
173,461
173,461
173,4fil
173, 461
173, 461
173,461
173,461
425,510
125,987
228,512
741,029
636, 700
748,976
1,130,358
1,424,340
1,536,353
1,386,068
1,802,676
1,861,754
2,059,336
2,553,637
1,899,089
2,044, 647
Kilos.
8
8
(3)
(*)
(*)
(3)
(3)
669
1,700
2,392
4,476
5,065
6,117
7,214
11,040
15, 171
16,851
19,594
19,898
6 20, 449
20,800
21, 407|
8444,617
1,129,773
1,589,815
2,974,943
3,366,561
4,065,489
4,794,208
7,337,211
10,082,747
11,199, 181
13,022,460
13,223,955
13,590,658
13,823,733
14,226,897
Kilos.
13,250
17,029
23,948
36(, 727
43,811
60, 856
67,301
67,080
88,111
120,566
109,876
13,048
13,676
58, 815
102,314
129,272
170,410
203,669
228,684
250,557
257,280
263,949
2S8, 727
318, 764 :
$8,806,095
11,317, 522
15,915,830
24, 405, 493
29.116,987
40, 444, 444
44, 728, 391
44,581,068
58,558,682
80,128,485
73,023,031
8,671,943
9,089,450
39,023,229
67,998, 131
85,913,877
113,254.691
135,358,007
151,984,048
166,520,518
170,988:632
175,420,497
191,890,100
211,850,665
i Includes Madagascar, Algeria, and the French Sudan. For 1903 and 1904, Madagascar only. For 1905,
figures for Madagascar and Egypt. For 1906 and 1907, Madagascar and Egypt for 1905 repeated.
* Includes Mozambique, Cape Colony, and N atal for all years except 1901 , which does not include product
of Mozambique or Natal. For 1903, includes Rhodesia, Cape Colony, and Natal. For 1904 and 1905, Rho¬
desia, Cape Colony, and Mozambique. For 1906 and 1907, Rhodesia, Cape Colony, Mozambique, Natal,
and Bechuanaland. , , , „ _
3 Previous to 1898 Rhodesia and Mozambique together produced 289 kilograms, fine, included in the
Transvaal returns*
i Previous to 1897 the only figures obtainable were those for 1892— Madagascar only.
‘ Includes German East Africa for 1910, 1911, and 1912. . , „
e Includes “Cape,” “ Orange Free State,” and “Natal,” constituting the “Union of South Africa.
Cape Colont.
The American consul at Johannesburg reports that the gold product
of the Province of Cape was 1.188 kilograms, valued at £162, equiv¬
alent to $788, representing 38 ounces, fine.
Natal.
The American consul at Johannesburg reports that the gold and
silver product of Natal for 1912 was 38.632 kilograms of gold valued
at £5,276, equivalent to $25,675, representing 1,242 ounces, fine, and
5.333 kilograms of silver valued at £19, equivalent to $92, represent¬
ing 171 ounces, fine.
Transvaal.
The American consul at Johannesburg reports that the gold and
silver product of the Transvaal for 1912 was 283,275.685 kilograms,
valued at £38,686,250, equivalent to $188,266,636, representing
9,107,400 ounces, fine. The silver contained in the gold bullion was
valued at £124,355, equivalent to $605,173, representing 984,501
ounces, fine.
304
REPORT OF THE DIRECTOR OF THE MINT.
Union of South Africa.
[From Annual Report of Mines Department for the calendar year 1912.]
The net output of gold from all sources was:
Province.
1911
1912
Fine ounces.
Value.
Fine ounces.
Value.
For the Transvaal .
8,249,461.418
73.052
1,705.880
£35,041,485
310
7,246
9, 107,511.562
38.188
1,242.061
£38,686,250
162
5,276
Cape .
Natal .
Total .
8,251,240.350
35,049,041
9,108,791.811
38,691,688
This represents 39 per cent of the world’s production for 1912,
estimated at £98,000,000, as compared with 37 per cent for 1911.
The total production of gold from the Union of South Africa since
1868, when gold was first discovered, amounts to approximately
£363,793,910 up to the end of 1912, which was practically all pro¬
duced in the Transvaal.
Monthly figures of the gold output are as follows for the Wit-
watersrand and the Transvaal for 1912:
Month.
Witwatersrand.
Transvaal.
Fine ounces.
Value.
Fine ounces.
Value.
January .
February 1 .
March .
April .
May .
June .
July .
August .
September .
October .
November .
December .
Total .
Net output * .
Increase on 1911 .
698,210.848
735,230.300
729,492.028
706,688. 898
747, 193. 756
723,216.631
735,945. 738
732,564.796
718, 190.072
738,247.622
72S, 562. 694
743,787.266
£2,965,812
3, 123,061
3,09S,6S6
3,001,824
3,173,878
3,072,029
3,126,098
3,111,738
3,050,679
3,135,876
3,094,738
3, 159,407
726,667.428
767,028.849
761,211.716
739,6S4.570
779,260. 730
754,680.661
766, 3S0. 747
764,621.648
749,729.944
769,570.401
758,856.503
775,782. 433
£3,086, 6S7
3,258,132
3,233,122
3, 141,9S2
3,310,088
3,205,678
3,255,377
3,247,905
3,184,651
3, 26S. 927
3,223.418
3,295,314
8,737,330.649
37,113,826
9,113,475.630
38,711,581
8, 731,969.777
37,091,050
9, 107,511.562
38,686,250
821,935.796
3,491,361
85S, 050. 144
3,644,765
> Includes all reserve gold not hitherto declared by companies. * After adjustment of balances.
TONNAGE MILLED.
The total tonnages milled by Transvaal mining concerns were:
Mining district.
1911
1912
Mines.
Reef
diggers.
Mines.
Reef
diggers.
Witwatersrand .
Tons.
23,991. 2S4
197,398
121,829
Tons.
Tons.
9=1 *57
Tons.
fi 115
Heidelberg .
0*0
w i , *W
225,209
U, 11°
540
20
718
599
10 *316
Klerksdorp .
o 103
Ottoshoop .
g’ 5S6
O, 1>W
234
1A?, dlU
4 Qft5
Pretoria .
926
11 fill
WO
Barberton .
sin
oro -v i
Pilgrims Rest .
OIUj 1 OJ
253.417
11, OH
11 050
ZOZy t M
OQi 1 CO
1U, Oio
IS 482
Petersburg .
4,854
1 1 . uo?
9 oil
lack
1 c ono
3 124
O, JIO
lO, QUA
Total .
24 fiftS Ml
M no 7
r c 1 ifiO
on ni 1
2b, 58L, lOO
ov, vi’
PRODUCTION OF THE PRECIOUS METALS.
305
“ TWENTY TEARS after” — A RECORD OF WITW ATERSRAN D MINING,
[From The Mining World and Engineering Record, London, March 29, 1913.]
The extraordinary process made by the mining industry of the
Transvaal is strikingly illustrated by a comparison of the annual
reports of the Transvaal Chamber of Mines for 1892 and 1912. Gold
production actually commenced on the Witwatersrand in 1887, but
the records for the first few years were imperfect owing to the fact
that a number of companies and individuals during that period were
working and producing gold of which no returns were made. The
estimated value of the output of the Witwatersrand for the first live
years, however, was about 6,500,000 sterling, or not much more than
two months’ production at the present rate. By the beginning of
1892 the industry had got well into its stride, the number of stamps
at work having gradually increased to about 2,035. The stamps,
however, vTere of a much lighter build than those generally in use
to-day — about 750 pounds weight. The year 1890 saw the intro¬
duction of the cyanide process in this district. Prior to that the
tailings wTere considered as worthless, there being no process that
could profitably treat them. Some companies, indeed, wrere so
anxious to get rid of them that where the nature of the ground per¬
mitted they were allowed to flow away. In March, 1891, the Robin¬
son recovered its first gold from tailings and concentrates, and in the
following year the cyanide output on the Rand reached a grand total
of 211,865 ounces. The growth of the industry generally in the last
20 years may be best shown by tabulating some of the results for
1892 and 1912 as follows:
Year.
Stamps
working.
Tube
mills
working.
Tonnage
crushed.
Gold won.
1892 .
2,035
9,440
Nil.
277
1 QOI O
£4.297,610
37, 182, 795
1912 .
i, yzi, 40 u
OK 401; 9ft 1
, 400, ool
Last year’s production was a record one for the field, even allowing
for the fact that it included £367,991 from abolished gold reserves,
making the aggregate yield from the commencement rather over
347,000,000 sterling. It is not, however, only the increased quan¬
tity of gold won that should form a basis for congratulation; a moie
important question from the investor’s point of view is whether the
increased quantity of gold won has returned a corresponding increase
in profit. To the world at large the mere outturn of gold is a source
of wealth, but to the shareholder in gold-mining enterprises this law
does not always apply. Working costs have certainly showm a bio-
reduction during the last 20 years— from about 30s. per ton to ISs.—
the principal factor in this connection, of course, being the increased
scale of operations, but it should also be remembered that the grade
of ore now worked is considerably lower than it was formerly. The
average recovery, for instance, in 1892 was 12 pennyweight 13 grains
of gold per ton of ore crushed, whereas last year it was less than 7
pennyweight. On the whole the rate of profit earning has been well
24950°— 14 - 20
gQ0 REPORT OF THE DIRECTOR OF THE MINT,
maintained, but the ratio between yield and dividend has varied
considerably from time to time. Since the commencement approx¬
imately 25 per cent of the gold won from the mines has found its
way into the pockets of shareholders m the shape of dividends. In
other words, the total sum paid in dividends to date amounts to
£91 455,373, while the gold yield, including that from the outside
districts,’’ amounts to £363,835,619. We append a table showing the
gold yield and the amount distributed in dividends for each yeai .
Year.
Dividend.
1887 .
1888 .
1889 .
1890 .
1891 .
1892 .
1893 .
1894 .
1895 -
1896 -
1897.. ..
1898.. ..
1899.. ..
1900.. ..
£12,976
127,352
461,644
299,557
355,600
974,041
1,042,539
1,727,433
2,218,402
1,743,632
2,956,981
4,996,510
3,211,766
6,600
Gold yield.
Year.
£169,401
967,416
1,490,568
I, 869,645
2,924,305
4,541,071
5,480,498
7,667,152
8,569,555
8,603,821
II, 653,725
16,240,630
15,452,625
> 1,481,442
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
1912.
Total.
Dividend.
£422,413
2,127,726
3,368,837
3,938,802
4,859,717
5,741,761
7,098,212
8,757,882
9,523,518
9,130,958
8,066,437
8,284,077
91,455,373
Gold yield.
£‘ 1,096,651
1 7,301,501
12,628,657
16,028,883
20,854,440
24,616,704
27,410,210
29,986,469
31,005,939
31,995,266
35,041,485
38,757,560
363,835,619
i War period.
In his address at the annual meeting of the Transvaal Chamber of
Mines on January 26, 1893, Mr. Lionel Phillips, the president^ refer¬
ring to the “ mineral resources of this extraordmary country, said.
It is highly probable that the maximum output from the Yutwatersrand will
reached during the present century.
How extremely meager was his conception of the possibilities of the
country, however, is evidenced by the tact that since the commence¬
ment of the present century the annual production of gold has more
than doubled. His successor in the presidential chair (Mr. 31. tr.
Elkan) the other day referred with satisfaction to the numerous
instances shown recently of very excellent reef values disclosed at the
present deepest points of working in several mines all along the Kand,
and instanced the Goduld Proprietary mine, which struck a reef at a
depth of 1,925 feet, of the value of 12 pennyweight over 48 inches, as
well as reefs struck by the New Modderfontem gold mines at a depth
of 2,158 feet, of the value of 13 pennyweight oyer 48 inches; bythe
Modderfontem deep levels at 3, 100 feet, of the value of 10 pennyweight
over 46 inches; by the Cinderella Consolidated gold at 4,440 feet, ol
the value of 9 pennyweight over 42 inches, by the City Deep at 3, -8b
feet of the value of 14 pennyweight over 28 inches; by the \ mage
Deep at 4,190 feet, of the value of 10 pennyweight over 36 inches ; by
the Crown mines, which at 2,660 feet exposed the mam reef and a
leader of abnormal width and value, the leader giving 11 pennyweight
over 132 inches; by the Consolidated main reef at 2,365 feet, assaying
17 \ pennyweight ‘over 48 inches; and by the Princess Estate and
Gold at 2,758 feet showing 9 pennyweight over 25 inches. ouch
values as these,” he said, “allowed of optimism with regard to the
future of the gold fields.”
PRODUCTION OF THE PRECIOUS
metals.
307
THE TRANSVAAL GOLD OUTPUT.
(Consul Edwin N. Gnn*™,™, *!»«*,* ta Dally ^ ^
.a MKsiLfts a$iSKirj
and^Tub^milb^ thf yfar an average of 9,449 stamps
at^fso 0^0 070 K ‘ Theft®tal outPuJ was 8,753,568 ounces, valued
«7 fl80^950^070. bemg at the rate of 6.8 pennyweights, valued at
lo'lo Per +t0n The total working Profit was $61,697,950, or
$2.42 per ton milled.
The outlying districts had a total production valued at $7,663 595
and a working profit of $2,058,145.
COMPARATIVE DATA — DIVIDENDS.
Figures for the whole Transvaal in 1911 and 1912 compare as
follows :
Classification.
1911
1912
Ore milled... tons..
Stamps at work . . number. .
Stamp duty per 24 hours . tons. .
Tube mills at work. . . number. .
Value of output .
24,456,821
10,020
7. 76
223
$170,286,718
$6.96
$4.40
$2.33
$57,063,946
26,071,841
10,027
8.29
270
$188,613,665
$7.23
$4.56
$2.45
$63,756,095
Value per ton .
Profit per ton .
Total profit .
Egypt.
The American consul general at Cairo reports that the gold and
silver produced from mines of the country during 1912 was as follows .
Gold, 4 965.735 fine ounces, valued at 21,073.39 Egyptian pounc s,
silver, 1,083.70 fine ounces, valued at 137.15 ^ |j04 166
The equivalents in United States money
representing 5,039 fine ounces and for the silver $678 representing
U03 fine ounces. MINErAL wealth of egypt.
M. Polie has published some, inteJ'esting ^Encouragement .
minerals of Egypt in the Bulletin 1 ^ pliaroahs, and explora-
Copper and gold were mined rn the ti . exploited. The mimng
tions are being made in the (f®Poslts a to ]iave progressed since that
companies created since 1905 .aPP® . 0f silicates and carbonates,
epoch. Copper, which occurs in the pnown were almost ex-
was worked extensively, and the tleP nrjncipal gold districts are
hausted by the ancient Egyptians. Valley Co. is much embar-
to the south of Assouan, where ^^J^artz contains 157 to 190
rassed with transport difficulties, fn 1 or 0 .03215 of a (troy
grams (gram = 0.03527 of an avoudupoi Arabian cieSert, the ores
ounce) per ton. At Barranuah mme, m richer portions from 190
yield generally from 60 to 90 gram ,
308
REPORT OF THE DIRECTOR OF THE MINT.
to 345; there is a 6-head stamp mill. The lack of water, the diffi¬
culties of communication, and lack of labor are factors which have a
tendency to impede the development of mining in Egypt.
*******
Liberia.
A report from the American legation at Monrovia states that the
gold produced from mines of the country during the calendar year
1912 was 211 grams, valued at £27, equivalent to $131, which rep¬
resents 6 ounces, fine.
Madagascar.
The American ambassador at Paris reports that the gold product
of Madagascar for 1911 was 2,850 kilograms, valued at 9,816,000
francs, equivalent to $1,894,488, representing 91,646 ounces, fine.
The American consul at Tamatave reports the gold production for
1912 as 68,158.40 ounces, valued at $1,309,047, representing 63,325
ounces, fine.
Mozambique.
The Annual Statement of the Trade of the United Kingdom gives
the value and quantity of the imports of gold from Portuguese East
Africa in gold ores £6,265 and in bullion 41,337 ounces; assuming
that the ounces are of British standard fineness they are equivalent
to 37,892 fine ounces, valued at $783,297, which, added to the value of
the gold ore ($30,485) gives the total product as $813,785, represent¬
ing 39,367 ounces, fine.
Boma, Kongo.
The American consul general at Boma, Kongo, reports that the gold
and silver produced from mines of the colony during the calendar
year 1912 was as follows: Gold, 899.360 kilograms, valued at $596,-
563, representing 28,859 fine ounces; silver, 112.800 kilograms, val¬
ued at $2,220.66, repsesenting 3,612 fine ounces.
German East Africa.
The American Embassy at Berlin reports that the production of
gold and silver of the imperial crown mines in German East Africa
was, for 1910, 347 kilograms of fine gold, valued at 943,645 marks,
and 62 kilograms ot fine silver. The product for 1911 was 316 kilo¬
grams, fine, valued at 866,188 marks, and for silver 59 kilograms.
The value of the gold for 1910 was $230,616, representing 11,160
ounces, fine, and for the silver $1 ,076, representing 1,993 ounces, fine,
the value of the 1911 product was, gold $210,014, representing
1().160 ounces, and silver 1,897 ounces, valued at $1,024.
riie figures for 1911 are repeated for 1912.
A gold mining enterprise m the Maunsa district of German East
Africa had, from April 1 1911, to March 31, 1912, a gold and unim¬
portant silver product of a total value of about 80,000 marks.
PRODUCTION OF THE PRECIOUS METALS.
309
West Africa.
The Report of the West African Chamber of Mines states that the
product of gold in West Africa for 1912 was valued at £1,497,179,
equivalent to $7,286,022, representing 352,461 ounces, fine.
GOLD PRODUCTION.
[From the Mining World and Engineering Record, London.]
In spite of the fact that the “Jungle” is suffering — in our judgment
undeservedly — from market neglect, it is satisfactory to note that the
gold product :on of the Colony continues to show expansion. The
value of the output last year was just under a million and a half ster¬
ling, or about 40 per cent more than that for the previous year, and 90
per cent in excess of that for 1910. The following table is instructive
as showing the progress of gold production from 1880 to 1912, in¬
clusive:
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894
1895
1896
Year.
Weight.
Value.
Ounces.
9,129
12,567
17,097
14,565
18,385
24,994
20,799
22,548
24,030
28,666
25,460
24,475
27,446
21,972
21,332
25,415
23,940
£32,865
45,240
61,552
52,435
66,188
89,981
74,878
81,168
86,510
103,200
91,657
88,112
98,805
79,099
76,795
91,497
86, 186
Year.
Weight.
Value.
1897 .
Ounces.
23,554
£84, 797
1898 .
17,732
63,837
1899 .
14,249
51,299
1900 .
10,557
38,006
1901 .
6,162
22, 186
1902 .
26,911
96,880
1903 .
70,775
254,790
1904 .
93,548
345,608
1905 .
168,457
657,330
1906 .
225,959
877,568
1907 .
293,218
1,154,885
1908 .
297,977
1,182,680
1909 .
235,972
951,822
1910 .
185,493
755,985
1911 .
261, 7S4
1,069,442
1912 .
362,940
1,497,179
Total .
10,410,462
SUDAN GOLD FIELD — AN EXCELLENT REPORT.
[From Ttie Mining World and Engineering Record, London, Mar. 15, 1913.]
In a valuable report made by Mr. Arthur Llewellyn, the well-
known mining engineer, dated July 31, 1903, the following passage
occurs:
Once and for all the question has been settled as to the real auriferousness of these
Sudan fields. The ancient mines have been found, many of them have been reopened,
and samples have been taken from the reefs. Some of the most easily accessible of
the mines have been selected for deeper trial and are now in active work. There
remains no doubt that there was a very extensive gold-mining industry here in the
past, and it is equally certain that there remains a huge gold held here to-day, for the
workings of the ancients, extensive as they certainly are, can only be considered as
the merest seratchings on the outcrop of the reefs. Whether or not these reefs can be
profitably worked under modern conditions is a problem which can only be solved
l>y practical experiment.
Tlio Sudan Gold Field (Ltd.) was registered in December, 1908
(being a reconstruction of a company formed about four and one-
half years previously), and during the four years of its existence it
lias extracted from the Om Nabardi mine 56,040 tons of quartz,
from which 31,402 ounces of gold, of the value of £109,046, have been
recovered. The returns for each year have been as follows:
310
REPORT OF THE DIRECTOR OF THE MINT.
Year.
Tons
crushed.
Gold won.
V
Value.
1909 .
11,846
14,662
14,707
14,825
Ounces .
5,679
6,967
7,973
10,783
£20,466
24,843
28,268
35,469
1910 .
1911 .
1912 .
Total .
56,040
31,402
109,046
French West Africa.
The Statistique de LTndustrie Minerale for 1913 states that the
product of gold of French West Africa for 1911 was 75 kilograms,
valued at 180,000 francs, equivalent to $34,740, representing 1,680
fine ounces. These figures are repeated for 1912.
Algeria.
The American ambassador to France reports that Algeria produced
2,400 kilograms of silver, valued at 218,400 francs, equivalent to
$42,151, representing 68,571 fine ounces.
Bechuanaland.
A report from the American Embassy at London states that the
product of gold and silver of the Bechuanaland Protectorate in 1911
was, gold 5.475 ounces, and silver 631 ounces, the total value of which
was £22,242, equivalent to $108,241. The weight of the silvsr, if
pure, would be valued at $330, leaving $107,911 for the value of the
gold, which represents 5,220 fine ounces.
The product for 1912 was, gold 1,352 ounces, and silver 156 ounces,
the total value of which was £5,709, equivalent to $27,783. Assum-
mg the silver to be fine, the value would be $96, leaving $27,687 for
the value of the gold, representing 1,339 fine ounces.
Rhodesia.
The Eighteenth Annual Report of the Rhodesian Chamber of
t^ie- Pr°duct at 642,807 fine ounces, valued at
369, equivalent to $13,175,411, representing 637,360 fine
ounces, and the silver product at 176,532 ounces, valued at £‘^0.010,
representing $97,378, or 158,416 fine ounces.
The following summary shows the tonnage dealt with and
source of the gold production of Rhodesia for the two vears:
the
Derivation.
1911
1912
Tons
treated.
Fine
ounces.
Tons
treated.
Fine
ounces.
Milling .
Sands . .
1,603,478
716,751
127,085
5,738
496,457
88,197
21,775
19,881
2,211
628,521
1,537.952
561,329
161,352
5,792
502, (MS
81,482
41,116
16,943
1,218
642,807
Concentrates.! mi .
Other sources. . . .
Total .
PRODUCTION OF THE PRECIOUS METALS.
311
NEW MINES NOT FORTHCOMING.
[ From The London Mining World and Engineering Journal.]
Although generally speaking, progress is being achieved bv most
of the established gold mines of the world, the fact is noteworthy that
comparatively few new mines are forthcoming to take the place of
those that have reached or are approacliing their zenith. The far
eastern section of the Witwatersrand is certainly supplying some,
but in the outlying districts of the Transvaal nothing of very great
importance has been discovered for a long time past. In Rhodesia
several mines are developing satisfactorily, but it can not be denied
that official anticipations in many instances have failed to eventuate.
West Africa has been making scant progress, although there are sev¬
eral promising properties in the colony that might do well if given
ni 1 ancial support to enable development work to be undertaken with
vigor. Western Australia has furnished no new discoveries to speak
of m recent years, and, excepting the few promising mines in the
Anantapur field, the same remark applies to India. As regards Mex¬
ico, the L nited States, ( anada, and Russia, it has also to be admitted
that no new sources of gold supply have been opened up.
WORLD’S PRODUCTION OP GOLD AND SILVER.
CALENDAR YEAR 1910.
Countries.
Gold.
Silver.
Kilos
(flue).
Ounces
(fine).
Value.
Kilos
(fine).
Ounces
(fine).
Commer¬
cial value.
North America:
United States .
Canada .
Mexico .
Africa . .
Australasia....
Europe:
Aus tr ia-H ungar y
France .
Germany .
Great Britain .
Greece .
144,853
15,356
37,482
263,602
98,511
3,269
2,569
95
60
4,657,017
493,707
1,205,051
8,474,809
3, 167, 140
105, 101
82,580
3,042
1,914
$96,269, 100
10,205,800
24.910.600
175, 189, 900
65.470. 600
2,172,600
1, 707, 100
62, 900
39,600
1,777,229
1,022,372
2,219,975
32,260
670, 165
47,925
22,178
174,091
4,242
27,419
14,574
7, 153
12,255
4,374
57, 137,900
32, 869, 264
71,372,194
1,037,160
21,545,828
1,540,808
713, 02S
5,597,026
136,370
881,539
468,566
229,989
394,000
140, 632
$30,854,500 •
17,749,400
38,541,000
560, 100
11,634,700
832,000
385,000
3,022,400
73,600
476, 700
253,000
124,200
212,800
75,900
Norway .
Portugal .
Russia .
Serna .
2
4
53,535
•••••••••»
66
133
1,721,163
29,600
1,400
2,800
35,579,600
Sweden . .1 .
Turkey .
South America:
Argentina .
Bolivia .
Chile .
Brazil .
Colombia .
3
1
260
} 698
2,941
5,071
375
1,795
1,193
3,354
686
138
512
7,008
16, 128
5,504
2,177
5,097
83
5,873
6,619
85
95
23
8,372
22,429
94,557
163,022
12,054
57,697
38,344
107,835
22,055
4,433
16,472
225,302
518,502
176,960
69,988
163,852
2,655
188,839
212, 808
2,733
2,000
500
173, 100
463.600
1.954.700
3,370,000
249, 200
1.192.700
792.600
2.229.100
455,900
91,600
340,500
4,657,400
10,718,400
3.658. 100
1,446,800
3.387.100
55,000
3,903,600
4.399.100
56,500
616
53,434
8, 188
201,871
19,823
1,717,896
263,255
6,490, 163
2,242,300
10,700
927, 700
142,200
3.504,700
Ecuador .
Guiana—
British .
Dutch .
French .
704
866,093
22,642
467, 700
12,200
Peru .
Uruguay .
Venezuela .
206, 125
6,626,930
3,578,500
Central America .
Asia:
British India...
China .
East Indies—
63,044
1,392
208,043
2,026,885
44, 772
112,300
1,094,500
24,200
British .
Dutch .
Indo-China.
Japan .
Korea. . ,
465,980
25i,'600
Siam...
TYttnl
5,127
164,844
2,474, ioo
89,000
1 UlUl . . .........
684,983
22,022,180
455, 239, 100 6. S96, 282
221, / 15, 673
119,727,000
312
REPORT OF THE DIRECTOR OF THE MINT,
World's 'production of gold and silver — Continued.
CALENDAR YEAR 1911.
Gold.
Countries.
North America:
United States....
Canada .
Mexico .
Cuba .
Africa .
Australasia .
Europe:
Austria-Hungary.
France .
Germany .
Great Britain
Greece .
Italy .
Norway .
Portugal .
Russia .
Servia .
Spain .
Sweden .
Turkey . .
South America:
Argentina . .
Bolivia .
Chile .
Brazil .
Colombia .
Ecuador .
Peru . ‘
Uruguay .
Venezuela .
Guiana—
British .
Dutch .
French .
Central America .
Asia:
British India....
China .
East Indies—
British .
Dutch .
Indo-China ....
Japan .
Korea .
Siam .
Total .
Kilos
(fine.)
Ounces
(fine).
Value.
145,787
14,689
37,436
30
288,201
90,557
4,687,053
472,241
1,203,573
967
9,265,672
2,911,410
$96,890,000
9, 762, 100
24,880,100
20,000
191,538,400
60, 184,200
3,288
2,726
118
60
105, 705
87,659
3,779
1,914
2. 185. 100
1.812. 100
78, 100
39,600
67
2, 165
44,800
4
48,377
378
115
1,555,333
14, 149
2,400
32, 151,600
251,100
3
1
95
23
2,000
500
435
13,979
289,000
545
17,533
362,500
5,770
4,766
416
740
106
549
185, 496
153,241
13,389
23,813
3,422
17,648
3,834,500
3, 167,800
276.800
492,300
70,600
364.800
1,342
788
3,354
5,056
43, 149
25,320
107,835
162,558
892,000
523,400
2,229, 100
3,360,400
16,633
4,987
534, 744
160,344
11,054, 100
3,314,600
2,015
5,096
112
6, 197
4,348
85
64,791
163,852
3,600
199,239
139, 774
2,733
1.339.400
3, 387, 100
74,700
4,118,600
2.889.400
56,500
695,062
22,348,813
461,939,700
Silver.
Kilos
(fine.)
| Ounces
(fine).
Commer¬
cial value.
1,878,675
1,018,375
2,458,241
60,399,400
32,740,748
79, 032, 440
$32, 615, 700
17,680,000
42,677,500
33,096
515,658
47, 862
13,369
155,044
4,242
25,000
31,060
9,085
3,667
14,841
751
129, 158
617
53,434
6,318
141,681
1,469
25,425
704
259, 768
1,064,050
16,578,421
1,538,772
429,831
4,984,677
136,370
S03, 750
998,576
292,075
117,894
477, 140
24, 132
4, 152, 430
19, 823
1,717,896
203,111
4,555,043
47,222
817,431
22,642
8,351,563
571.600
8.952.300
830,900
232,100
2.691.700
73.600
434,000
539.200
157.700
63.700
257.700
13,000
2.242.300
10.700
927. 700
109.700
2.459.700
25,500
441,400
12.200
4,509,800
13,589
436,903
235,900
37,690
3,245
1,211,747
104,323
654,300
56,300
14,494
465,980
251,600
i38,696
294
4,459,087
9,446
2,407,900
5,100
7,035,548
226, 192,923
122,143,800
PRODUCTION OF THE PRECIOUS METALS,
313
World1 s 'production of gold and silver — Continued
CALENDAR YEAR 1912.
Countries.
North America:
United States .
Canada .
Mexico .
Africa:
Transvaal .
West Coast .
French Colonies. . . .
Rhodesia .
Australasia:
Western Australia.
Victoria .
Queensland .
New South Wales. .
Tasmania .
South Australia. . . .
Northern Territory.
New Zealand .
Europe:
Austria-IIungary . . .
France .
Germany .
Great Britain .
Greece . .
Italy . .
Norway . .
Portugal . .
Russia .
Servia . .
Spain .
Sweden .
Turkey .
South America:
Argentina .
Bolivia and Chile.
Brazil .
Colombia .
Ecuador .
Peru .
Uruguay .
Venezuela . , ..
Guiana —
British .
Dutch .
French .
Central America .
Asia:
British India .
China .
East Indies—
British .
Dutch .
Indo-China .
Japan .
Korea .
Siam .
Gold.
Silver.
Kilos
(fine).
Ounces
(fine).
Value.
Kilos
(fine).
Ounces
(fine).
Commer¬
cial value.
140,613
19,032
36,864
4,520,719
611,885
1, 185, 187
$93,451,500
12,648,800
24,500,000
1,983,415
983,684
2,321,626
63,766,800
31,625,451
74,640,300
$39, 197,500
19,440,200
45,881,400
283,318
10,963
3,076
21,407
9, 108,680
352,461
98,909
688,226
188,293,100
7,286,000
2,044,600
14,226,900
30,627
984,672
605,300
2,280
4,932
73,286
158,572
45,000
97,500
39,896
14,934
10,823
5,141
1,181
1,282,658
480, 131
347,946
165,295
37,973
6,592
5,337
310,962
26,514,900
9,925,200
7, 192, 700
3,416,900
785,000
136.300
110.300
6,428, 100
4,668
783
8,373
420,350
150,065
25, 18S
269, 181
13,514,249
92,200
15,500
165,500
8,307,200
205
166
9,672
24,238
779, 261
479,000
3,074
2, 727
118
42
98,840
87,659
3,779
1,344
2,043,200
1,812, 100
78, 100
27,800
57,241
13,370
155,044
3,539
25,000
13,927
7, 714
6,402
6, 224
751
160 268
1,840,297
429,831
4,984, 677
113,769
803 750
1,131,200
264,200
3,064, 100
70,000
494 100
17
534
11,000
447, 761
247 988
275,' 200
1 59
4
33,402
378
113
1,073,875
12, 149
2,300
22, 199,000
251,100
205,' 822
200,094
24, 132
6 1 W 696
io6} *±uu
126,500
123,000
14,800
Q 1A7 QfUl
31
1
984
23
20,300
500
IWj M/O
1,002
46,940
Op 104 f u^u
32,202
1,509, 133
Oj 10/ y OUU
19,800
927, 700
162
263
5,373
4,471
612
741
167
5,193
8,467
172, 728
143, 757
19,665
23,813
5,369
107,300
175,000
3, 570, 600
2,971,700
406.500
492,200
111,000
623.500
2,550
125, 968
1,263
18, 279
704
259, 769
81,996
4,049,856
40,610
587,683
22,642
8,351,563
50,400
2,489,500
25,000
361,200
13,900
S, 133,700
938
30, 162
3,80-1
i22,303
75,200
1,324
613
4,590
42,560
19, 702
147,571
146, 594
879,800
407,300
3,050,600
3,030,400
22,527
724,235
445,200
4,560
88,521
2,845,954
1,749, 400
16,635
5,505
534, 822
176,999
11,055,700
3,658,900
2,913
93,649
57,600
2,034
65,402
1,352,000
• 5, 096
112
163,852
3,600
3,387, 100
74,700
ii, 494
465,980
286,400
6, 721
4,292
85
216,092
137,993
2,733
4,467,000
2,852,600
56,500
380
4,932, 852
12,224
3,032,200
7,500
. 701,379
22,549,335
466,136,100
6,977, 002
224,310,654
137,883,800
Total.
314
REPORT OF THE DIRECTOR OF THE MINT,
WORLD’S PRODUCTION.
The following table shows, by calendar years, the production and
value of gold and silver in the world since 1860:
Production of gold and silver in the world since 1860.
[The annual production of 1860 to 1872 is obtained from 5-year period estimates, compiled by Dr Adolnh
Soetbeer. Since 1872 the estimates are those of the Bureau of the Mint.]
Calendar years.
Gold.
Silver.
Fine ounces.
Value.
Fine ounces.
Commercial
value.
1860 .
6,486,262
5,949,582
5,949,582
5,949,582
5,949,582
5,949,582
6,270,086
6,270,086
6,270,086
6,270,086
6,270 086
5,591,014
S SOI 014
4134 nft3 nm
29,095,428
35.401.972
35.401.972
35.401.972
35,401,972
35,401,972
43,051,583
43,051,583
43,051,583
43,051,583
43,051,583
63,317,014
63,317,014
$39,337,000
46.191,000
47,651,000
47,616,000
47,616,000
47,368,000
57,646,000
57,173,000
57,086,000
57,043,000
57,173,000
83,958,000
83,705,000
1861 .
«104, UoO, UUU
199 QftQ non
1862 .
Ima, yoy, UuU
199 qsq nnn
1863 .
144, yoy, uuu
1 99 quo nnn
1864 .
144, yoy, uuu
122,989,000
199 QftQ nnn
1865 .
1866 .
144, yoy, uuu
129,614,000
129,614,000
129,614,000
10Q 61 .i nnn
1867 .
1868 .
1S69 .
1870 .
14y, 014, UUU
129 614,000
lie c*77 /\/u\
1871 .
1872 . .
110, 0/ / , uuu
115,577,000
Total .
7ft 7fiA r/>n
1,628,252,000
547,997,231
729,563,000
1873 . .
96,200,000
90,750,000
97,500,000
103,700,000
1 1 Q 0^7 (Via
63,267,187
55,300,781
62,261,719
67,753, 125
62,679,916
73,385,451
74,383,495
74,795,273
79,020,872
86,472,091
89,175,023
81,567,801
82,120,800
70,674,40)
70,578, 100
78.322.600
75.278.600
84,540,000
1874 .
“j OiW , u to
4 300 023
1875 . .
•*, oyu, U4-0
4 716 5 63
1876 .
5 016 4ftft
1877 .
U1U,
s 510 IOA
1878 .
v, lUi, IcU
5 7«1 114
llo VJ4/
119,092,800
108.778.800
106.436.800
103,023,100
101.996.600
95,392,000
101.729.600
108.435.600
106.163.900
105.774.900
110.196.900
123.489.200
118.848.700
130,650,000
146,651,500
157. 494. 800
181.175.600
198.763.600
202.251.600
236,083,700
286.879.700
306.724.100
254,576,300
260.992.900
296.737.600
327.702.700
347.377.200
380. 288. 700
402,503,000
412.966.600
442.476.900
454,059,100
455.239.100
461.939.700
466. 136. 100
1879 .
Oy (Ul, 11*1
K 962 174
1883 .
O , ,1(4
6 14ft ftftO
83, 532, 700
85,640,600
1881 . .
Wj 140, 00U
4 Qft3 749
1882 . .
4 034 fiftfl
89, 925, /00
1881 . .
4 614 ^ftft
98, 232, 300
1884 . .
014, (JOO
4 021 1 < 0
98, 984, o00
90, 785,000
1885 . .
4, 57^1 , I'v?
e Oaz R79
1886 . .
O , .40 , 0 1 £
^ IQ* 670
91, C09 f 959
93,297,290
96,123,586
108,827,606
120,213,011
126,095,062
137,170,000
153, 151, 762
165,472,621
164,610,394
167,500,960
157,061,370
97,518,800
1887 . .
0, 100, D( y
• S 1 1 6 ft61
92, 793, £00
1888 . .
o} 11U, oOl
k qqq 77*;
94,031,000
1889 . .
Of OOUf I/O
5 071 700
102,185,900
1890 . .
Of 57(0, (57U
* 740 306
112, 414, 100
1S91 . .
Of / 4y, oUu
6 390 1Q.1
131,937,000
1892 . .
u, ozu, ly*
7 004 966
135,500,200
1893 . .
« f 17574, .UU
7 61 ft ftl 1
133,404,400
1894 . .
4 , UlO, Oil
ft 764 369
129,119,900
1895 . .
Q AK 1 on
104,493,000
1896 . .
**, OIO, 1VU
0 7ft3 01 A
109,545,600
1897 . .
Vf / 00, vi-i
1 1 49fk A£C
105, 859,300
1898 . .
1 1, uoo
13 R77 ftnn
160, 421,082
96,252, 700
99, 742,600
1899 . .
10, 0/ /, oUu
14 ftQ7 77*
169, 055, 253
1900 . .
cVo if t 40
19 31 * 1 oc
168,337,452
101,002,600
1901 . .
410, 140
19 AO* 607
173,591,364
107,626,400
1902 . .
040, 04/
14 36A Aen
173,011,283
103,806,700
86,264,700
1903 . .
004, OoU
1 6 $160 Aon
162, 763,483
1904 . .
ao, ooz, o4U
16 fiAl 370
167,689,322
90,552,200
95,233,300
1905 . .
ao, 0U4, i5/4
1ft 30/1 jici
164,195, 260
1906 . .
ao, oyo, 401
10 471 nun
172,317,688
105,113,700
1907 . .
a», 4/ 1, UoU
1 Q 077 orn
165,054,497
111,721,100
1908 . .
Ay, v/ / , 4t»U
21 400 O A 4
184, 206,984
121,577,100
1909 . .
^1, 444, 444
91 QA6 in
203,131,404
108,655,100
1910 . .
, yoo, 111
OO A OO 1 CA
212,149,023
110,364,400
119,727,000
1911 . .
OO QiQ 910
221,715,763
1912 . .
^040,0l0
99 *^10 oor
226, 192,923
122,143,800
Trtfol
dW, oJO
224,310,654
137,883,800
1 UUll ..............
421,903,383
8,721, 117,300
5,399,341,226
4,082,085,000
Cl rand total. .
600,670,013
10,349,369,300
5,947,338,457
4,811,648,000
PRODUCTION OF THE PRECIOUS METALS. 315
*
'
INDEX.
A.
Abyssinia, coinage 1911 and 1912 .
Aden, monetary statistics of .
Africa:
British East, coinage .
German East, coinage .
Gold used in the arts .
Monetary statistics .
Production of gold .
Production of gold since 1889, table of .
South, monetary system and approximate stock .
South, production of gold, 1911 and 1912 .
Alabama:
Production of gold and silver. . .
Review .
Source of product .
Alaska:
Production of gold and silver, 1911 and 1912 .
Production of gold by dredges since 1906 . .
Review of 1912 .
Source of product .
Alberta, production of gold and silver .
Algeria:
Production of silver. . .
Retirement of French bronze coins .
Altai concession and Russian gold production .
Anode melts of low fineness. ............................
Appalachian States, production of gold and silver .
Appropriations for 1913 .
Aray?'e^m^ursements, expenditures, and balances .
Gold and silver used in the arts .
Imports and exports .
Monetary statistics of .
Argentina:
Gold and silver used in the arts .
Imports and exports .
Monetary statistics . . .
Monetary system and approximate stock .
Production of gold and silver .
Arizona:
Production of gold and silver, 1911 and 1912 . .
Review .
Source of product .
Arts:
Industrial, gold and silver used in 1912, United States
Table of . . .
Industrial, gold and silver used in 1912, world .
Table of .
Asia:
Monetary statistics of .
Production of gold and silver .
Asia and Egypt, industrial consumption .
Assay commission, proceedings of, 1913 .
Page.
. . . 104
. . . 190
. . . 104
... 104
. . . 249
. . . 217
. . . 302
. . . 303
64
. . 304
239, 243
.. 239
.. 244
.. 243
.. 244
.. 229
.. 244
.. 284
-. 310
161, 162
-- 298
44
239
13
14
.. 249
.. 190
• - 190
.. 250
- 138
- 138
64
• 288
243
230, 242
- 244
246
247
- 248
- 259
• 190
- 299
- 258
56
317
318
INDEX.
Assay office:
Charlotte, closed .
New York, operations of .
Seattle, operations of .
Assay offices, minor .
Assets and liabilities .
Australasia, coinage 1911 and 1912 .
Australia:
Gold and silver used in the arts .
Imports and exports .
Monetary statistics .
Monetary system and approximate stock.
Retail prices of food since 1900 .
Production of gold and silver .
Austria:
Imports and exports .
Production of gold and silver .
Austria-Hungary :
Coinage 1911 and 1912 .
Gold and silver used in the arts .
Monetary statistics of .
Monetary systems and approximate stock
Retail prices of food since 1900 .
Production of gold and silver .
B.
Bechuanaland, production of gold and silver. . .
Beira and Lourenco Marquez, monetary statistics
Belgium:
Abstract operations of mint .
Coinage, 1911 and 1912 .
Coinage for Roumania .
Foreign coins manufactured in Brussels .
Gold and silver used in the arts .
Imports and exports . . . .
Industrial consumption .
Monetary statistics .
National bank reserve since 1908 . ”
National coinage of .
Guaranty of gold and silver works .
Retail prices of food since 1900 .
Production of gold and silver . "
Blanks purchased for use in minor coinage .
Boise assay office .
Bolivia:
Exports of gold and silver, 1911 and 1912 .
Imports and exports .
Monetary statistics of . .
Stamped paper of .
Bolivia and Chile:
Imports of bullion and ore .
Production of gold and silver.
Boma, Kongo:
Gold used in the arts.
Monetary statistics . . . . .
Production of gold and silver.
Brazil : .
Coinage, 1911 and 1912 .
Exports of silver .
Imports and exports. . .
Monetary statistics .
„ .Production of gold and silver.’ .
i5ntish Columbia: .
Lode mining in .
Jrlaoer mining in . .
Production of gold’ and silver
Progress of mining in. . . .
Page.
8
.. 10,47
50
.. 11,51
. 88,274
.. 104
.. 250
.. 224
.. 223
64
72
. 302
. 150
. 294
104, 148
. 250
. 148
64
71
. 294
. 310
. 221
_ 156
. 104
_ 154
_ 157
_ 251
_ 156
_ 250
64, 154, 158
.... 252
.... 156
.... 158
71
.... 295
20
51
. . . . 289
. . . . 138
... 64,138
. . . . 139
. . . . 288
. . . . 288
. . . . 249
21 Q
1 ! '296, 308
. . . . 104
. . . . 290
. . . . 140
... 64,139
.... 289
. . . . 285
. . . . 285
. . . . 284
. . . . 285
INDEX.
319
British East Africa, coinage, 1911 .
British East Indies, production of gold .
British Empire (see Great Britain), coinage of, 1911 and 1912
British Guiana:
Coinage of . .
Industrial consumption .
Imports and exports .
Monetary statistics .
Production of gold .
British India ( see India):
Coinage of 1911 and 1912 .
Coinage for Straits Settlements .
Gold imports from China . - .
Imports and exports of gold and silver . .
Industrial consumption .
Monetary statistics .
New coinage of rupees. . . .
Production of gold and silver . - • - - .
British North America, production of gold and silver .
British North Borneo:
Monetary statistics of .
Production of gold . - . - - .
Bullion and coin imported and exported from Europe .
Bullion and ore:
Exported from Colombia .
Bullion:
Imported from Bolivia and Chile .
Gold certificates and bars on hand .
Gold deposits . -# .
Gold exchanged for gold coin .
Gold receipts and disbursements .
Imports and exports to and from London .
In mints and assay offices .
Silver deposits and purchases . . . - .
Silver exports from London to the East since 1881 .
Bulgaria:
Coinage, 1912 . . .
Coinage for, by Austria . : . - .
Monetary svstem and approximate stock .
Bureau of the Mint, laboratory work of . - .
Business of mint service, 1912-1913, compared .
By-products of Government refineries .
C.
California:
Production of .
Review .
Source of product .
Canada:
Coinage, 1911 and 1912....----.--- -vry; .
Cost of producing silver in Cobalt district .
Industrial consumption .
Imports and exports ; .
Monetary statistics of- .
Retail prices of food since 1900 .
United States gold coin in - : .
Canton (Kwantung), monetary statistics .
Cape Colony, gold production of .
(’arson Mint . .
Central American States:
Monetary statistics . : .
Production of gold and silver . * - - . . .
Central States of the United States, production of .
Certificate gold bars on hand .
Ceylon :
Coinage, 1911 and 1912 .
Imports and exports . . .
Monetary statistics of . * .
Page.
104
301
104
104
256
143
142
291
104
191
300
. 192,
265
256
191
257
299
284
201
302
59, 92,
276
290
288
13
17, 78,
270
23
55
266
.. 61,
260
17, 82,
272
265
104
148
64
55
12
22
. 242,
243
230
244
104
285
253
127
126
72
127
202
303
51
127
286
233
13
104
202
202
320
INDEX.
Charlotte assay office: Pasc-
Closed . 8,51
Mint, coinage of gold, 1838-1861 . 10
Chile:
Commerce of . 140
Monetary statistics of . 64, 140
Chile and Bolivia:
Imports of bullion and ore . 288
Production of gold and silver . 288
China:
Coinage, 1911 and 1912. . . . . . 104
Imports of gold into, various countries . 300
Industrial consumption . 253
Monetary statistics of . 202
Production of gold and silver . 299
South (Kwangsi), mining in . . . 300
Chinese Republic, proposed adoption of the silver standard . 209
Chosen (Korea):
Imports and exports to and from . 215
Production of gold and silver in . 301
Chungking:
Imports and exports . 204
Monetary statistics . . . . 204
Cobalt district, Canada, cost of producing silver in . 285
Coin and bullion (gold) :
Imported and exported to and from Europe . 59, 92, 276
Stock of, in United States . 60, 260
Coinage of the United States:
Authority for coining, changes in weight and fineness (table) . 108
By denominations and value since 1792 (table) . 110
Calendar year 1912 . 283
Copper alloy used in . 19
Dies, life of . 51
Fine ounces and value since 1873 (table) . 107
Fiscal year 1913 (table) . 18
For Costa Rica . 19,283
For Philippines . 19, 283
Metal purchased for minor coins . 20
Minor coins issued, melted, and outstanding . 21
Minor coins, seigniorage on (table) . 37, 102
Seigniorage on silver and minor coins (table) . . . 87, 102
World, 1911 and 1912 . 104
Uncurrent . 62,63
United States for Philippine Islands .
Coiners and melters and refiners’ operations . 52
Coins:
Bronze, of France, retirement of . . . - 161
Foreign, melted by certain countries . . . 109
Foreign, values of . 73, 75
Netherlands East Indies, weight and fineness of . 178
Netherlands, weight and fineness . 177
Nickel, perforated, of France . 161
United States, recoinage of . 62, 63, 86
Colombia:
Coinage 1911 and 1912 . 104
Exports of ore and bullion . 290
Monetary statistics of . 64, 140
Production of gold and silver . 290
Colorado :
Production of . . . 232, 243
Review . ! . 232
Source of product . 244
Commercial ratio of silver to gold since 1687 . 269
Commodities, average wholesale price of , 1912 . 70
Consolidated income and expenditures . 15
Consumption, industrial, of the world . 24S
INDEX.
321
Copper:
Alloy used in coinage .
Purchased, quantity and cost for use in minor coinage
Costa Rica:
Coinage, 1912 .
Coinage for, by United States .
Imports and exports .
Monetary statistics of .
Production of gold and silver .
Cuba:
Imports and exports . . .
Monetary statistics of .
Currency absorption of India . . .
Currency and gold standard reserve of India .
D.
Dead wood assay office .
Deficiencies at Denver Mint and New York assay office .
Denmark:
Coinage of 1911 and 1912 .
Imports and exports .
Monetary statistics of .
Denver Mint operations . W W W W ! W
Assaying department .
Change in superintendency .
Coining department . !W W W ! W W W
Deficiencies .
Employees and deposits . .
Employees and expenditures . .
Melting and refining department. ! . . . . . . W W W ! W !
Anode melt of low fineness .
Improved refinery charge . .
bullion directly throi^h gold celisW .! W
Recdn5ese.b??efite °f *eW system of refineiT charges .
Seigniorage . ..! W .
Table of . .
Deposits, earnings, and expenditures b v inVti in ri'W .
Deposits and purchases of gold ... . 7 ns .
Deposits and purchases of silver .
Dies, coinage, life of . .
Dividends and gold yield of th^ Transvaal Vince 1887 .
Dominican^e public f °f ^ Transvaa1’ 1911 and 1912, compared
Monetary statistics of .
Monetary systems and approximate stork .
Dutch^ast Indies:^ g°ld m Alaska and California since 1906...
Coinage 1911 and 1912....
Production of gold . .
Dutch Guiana: .
Imports and exports .
Production of gold . ’ 1 .
Earnings and expenditures, table of. . . E*
East Africa, monetary statistics of . . * . .V ” W
East Atrica and Uganda, coinage, 1912
Ecuador^108’ production of s°ld ^d siiveV.V. 1 ! ! ! ! ! ! ! : : ! ! ! ! ! ! ! : ;
Coinage 1912 .
Commerce of . . i . . .
Imports and exports .
Monetary statistics of .
Production of gold and silver . WWW!
Egypt and Asia, industrial consumption . .
24950°— 14- - 21
Page.
19
20
. 19,104
. 19,283
.. 130
. 129
286, 287
. 135
64, 134
. 196
. 196
. 51
. 13
. 104
. 159
. 64,159
. 7,8,41
. 44
. 8
. 46,52
. 13
. 52
. 12
. 46,52
. 44
. 41
. . 43
. : . 42
. 21,86
. 37
. 102
. 52
17, 78, 80, 270
17, 82, 84, 272
. 51
. 306
. 307
. 135
. 64
. 244
. 104
. 302
. 142
. 291
52
■ 221
104, 165
- 301
- 104
• 142
• 142
64, 141
290
- 258
322
INDEX.
Egypt: Page.
Coinage 1911 and 1912 . 104
Coinage for, made at Birmingham . 218
Imports and exports . 218
Mineral wealth of . 307
Monetary statistics of . . . . 64 217
Production of gold and silver . ! . . ” . ’307
Electrolytic refineries, work of . . . * " 22
Employees and deposits . * ’ " 52
Employees, number of, and expenditures of mint service, 1893-1913 . 12
Estimate of appropriations for 1915 . 13
Europe:
Monetary statistics of . 14g
Production of gold and silver . 294
Expenditures and income consolidated on account of mint service . 14, 15, 90
F.
Federated Malay States, production of gold .
Finland:
Coinage, 1911 .
Industrial consumption .
Monetary system and approximate stock .
Stamping bureau returns since 1902 . .
Food prices, changes in, certain countries since 1900 .
Foochow, monetary statistics .
Foreign coins melted by various countries, 1911 and 1912 . .
Foreign coins, values of .
Foreign coim tries:
Exports of gold and silver, table .
Gold bullion and coin deposited, fiscal year 1913 .
Monetary statistics of .
Production of gold and silver . . " . . _ _ . . . ’
Silver bullion and coin deposited, fiscal year 1913. . .!!.!!!! .
France:
Coinage, 1911 and 1912 .
Monetary statistics of .
Production of gold and silver . . .
Retail prices of food since 1900 .
Retirement of bronze coins in circulation and their replacement by nickel
perforated coins .
French colonies of Africa:
Coinage, 1911 and 1912 .
Production of gold and silver since 1889 .
French Guiana, production of gold . .
French West Africa, production of gold . . .
. 302
. 104
. 257
64
. 257
71
204
109
. 73,75
281
17
125
284
18
104
64, 160
296
71
161
104
303
291
310
G.
Gains from operations, wastage and loss on sale of
Georgia:
Production of gold and silver .
Review . ’
Source of production . ’’
German East Africa:
Coinage, 1911 and 1912 .
Coins for, struck at Hamburg . *]'.’’**
Production of gold and silver . ’ * * *
Germany:
Coinage for 1911 and 1912 .
Imports and exports . ’ *
Imports from China .
Monetary statistics of . *
Production of gold and silver . . .
Retail price of food since 1900 . . . . ! .
Gold and prices .
sweeps, fiscal year 1913./. . 54
. 242,243
. 239
. 244
. 104
. 163
. 308
. 104
. 163
. 300
. 64,162,164
. 296
. . 71
. 67
INDEX.
323
Gold:
Average price in London since 1870, table..
Bars exchanged for coin and bullion .... .
Bars used in the arts since 1880 . . .
Bullion and coin exported from New York, fiscal-year 1913
Bullion and coin, foreign deposits .
Bullion and coin imports, fiscal year 1913 . .
Bullion and coin stock in United States December 31, 1912.. . . . . '
Bullion balances, receipts, and disbursements June 30, 1913 .
Bullion deposits, fiscal year 1913 .
Bullion in mints and assay offices .
Bullion receipts and disposition, fiscal year 1913.....!....... .
Bullion (surplus) recovered . .
Certificate bars on hand June 30, 1913 . !!.!!.!.....!!!
Coinage by acts since 1792 . !.!!!.!.!.!!
Coinage by mints, tables . !!!!........!.
Coinage, fine ounces and value since 1873 . .
Coinage of the world, 1911 and 1912 .
Coin and bullion exports .
Coin and bullion received in exchange for bars .
Coin of United States melted by foreign countries .
Coin of United States, net exports since 1870 .
Coin of United States, imports and exports since 1870 .
Coin of United States in Canada .
Deposits and purchases at mints and assay offices .
Deposits since 1873 .
Domestic exports .
Exports to Europe .
Fields of Sudan .
Foreign coins melted by various countries . .
Foreign exports .
Guaranty work of Belgium .
Imports and exports, fiscal year 1913 .
Imports and exports, India . /.' .
Imports from China .
Industrial consumption, United States .
Industrial consumption, world .
Industrial employment in India .
Monetary stocks .
Movement from New York .
Movement to and from China .
Movement to India .
Operations of melter and refiners and coiners .
Ownersliip in United States .
Production distributed by mines as reported by owners as to source
Production of Appalachian States . ' .
Production of foreign countries .
Production of mines since 1792, by ounces and value .
Production of Philippines .
Production of United States, estimate of director .
Standard and currency reserve of India .
Stock and per capita in the United States since 1873 .
Stock and per capita, world, 1912 .
Stock of Germany .
Stock of United States .
Used in the arts in United States .
Used in the world .
Wares assayed at Birmingham, Chester, and Sheffield . . . ."
Great Britain and colonies, coinage, 1911 and 1912 .
Great Britain:
Imports and exports of coin and bullion .
Industrial consumption .
Gold imports from China . "
Monetary statistics . ’
Production of gold and silver . !!...!
Page.
. 103
.... 23,248
- 247
. 59
17
92
. 260
55
17
... 61,260
54
54
13
. . . . 107
.... 105
.... 107
. . . . 104
59
... 23,248
72
60
60
63
78, 80, 270
... 105
96
59
... 309
. . . 109
. . . 100
. . . 158
92
. . - 194
- - - 300
. . . 246
- - . 248
. - - 194
66
58
. . 299
66
52
61
.. 244
.. 239
-. 283
.. 245
.. 237
-- 242
-- 196
62
64
-. 164
. 64,260
-. 246
.. 248
.. 256
.. 104
164, 166
.. 255
. 299
64, 164
. 296
324
INDEX.
Greece:
Coinage, 1911 .
Coinage for, by France .
Monetary statistics of .
Production of silver .
Guiana, British:
Coinage, 1911 .
Industrial consumption .
Monetary statistics . ’ " ^
Production of gold . !!!!!!!!!!
Dutch, monetary statistics .
French, monetary systems and approximate stock.
Production of gold .
Guatemala (see Central America):
Monetary systems and approximate stock .
Production of gold and silver, 1910, 1911, and 1912
H.
Haiti:
Monetary statistics of .
New monetary act .
Hankow monetary statistics . !!!!!!!!!!!!
Holland, retail prices of food since 1900 .
Honduras:
Coinage 1911 and 1912 .
Imports and exports .
Industrial consumption .
Monetary statistics .
Production of gold and silver .
Honduras, British, coinage, 1911 .
Hongkong:
Coinage, 1911 and 1912 . .
Monetary statistics .
Hungary:
Coinage of .
Imports and exports .
Monetary statistics . "
Ordinance relative issue of 2-crown pieces .
Production of gold and silver . . . . ’
Source of .
Retail prices of food since 1900 .
Hupeh, China, Government mint operation .
Page.
. 104
- 160
64, 174
297
104
256
64, 142
291
64, 142
64
291
64
311
. 64,135
.. 136
.. 205
71
.. 104
. 130
. 256
. 130
286, 287
. 104
. 104
. 205
. 104
. 153
64, 151
. 152
. 294
. 295
71
. 206
I.
Idaho:
Production of gold and silver . 242 243
Review . ’ 233
Source of production . ” ’ ” ” " 244
Illinois, production of silver . !!!!!!!!!!!! 242
Imports and exports of bullion and coin into and from United States.! ! 59, 60, 92, 276
Gold and silver, India . 294
Gold and silver, United Kingdom . !!!!!!!!!!!!..!! 166
London . . . . . . . . . . 266
Income and expenditures of mint service consolidated . . . 15
India. (See British India.)
Absorption of currency in . 296
Coinage, 1911 and 1912 . .!...!.!.!!..!!...!!! 104
Financial troubles . . 2 98
Gold currency and silver standard reserve . . 296
Gold employment in industrial arts . !!!!!!!!!!!!!!! 194
Imports and exports of gold and silver . ! ! ! ! 294
Industrial consumption mentioned . !!!!!! . 258
Mints, coinage of . " " . . qo
Monetary statistics . !.!!...........!..!! . rd 1 q<t
Indies, East, production of gold and silver. . . . . . . . . !!!.... . ’ 392
INDEX.
325
Indo-China:
Coinage, 1911 and 1912 .
Coinage for, by France . . . .
Production of gold .
Industrial arts:
Gold and silver used in United States
Gold and silver used in world .
Industrial employment of gold in India...
Italian Somaliland, coinage, 1912 .
Italy:
Coinage, 1911 and 1912 .
Imports and exports .
Industrial consumption .
Monetary statistics .
Retail prices of food since 1900 .
Production of gold and silver .
Page.
104
160
299
246
248
194
104
104
176
257
64, 175
71
297
J.
Japan:
Coinage, 1911 and 1912 .
Imports and exports .
Imports and exports to and from Chosen (Korea)
Imports from China .
Monetary statistics of .
Retail prices of food since 1900 .
Production of .
104
214
215
300
64, 213
71
300
K.
Kentucky-Illinois (see Central States) region, production
Kongo, Colony of the, coinage for, by Belgium .
Korea (Chosen) :
Imports and exports to and from .
Monetary statistics of .
Production and source of . ;••;•••• .
Kwangtung (Canton), monetary statistics . .
Kwangsi, South China, mining in .
Ij.
Laboratory, Bureau of Mint, work of------ *:*•** VqVj^ * " '
Level of food prices of principal countries ^ year 1913
Liabilities and assets, mints and assay > .
Table of . . . .
Liberia: # .
Monetary statistics . .
Production of gold . ’ " .
Life of coinage dies . .- - - - *• * * ; • * 'f .ini* so 1913 .
Location of moneys of United States, ’ .
Lode mining in British Columbia..--- - * oi^'from operations. .
Loss and wastage on sale of sweep and gains i
Lourengo Marquez and Beira: . -. .
Imports and exports . .
Lowest, average, and highest price , *lver . .
Lowest, average, and highest pin
M.
Madagascar: .
Imports and exports. . * ‘ .
Industrial consumption . .
.
233
157
215
64, 215
301
202
300
55
71
88
274
223
308
51
61
285
54
221
221
40
268
264
220
257
308
24
243
165
23
260
326
INDEX.
Metals for minor coinage purchased .
Melting and refining and coining operations .
\f PYipn*
Coinage, 1911 and 1912 .
Imports and exports .
Monetary statistics of .
Production of gold and silver .
Michigan:
Production of silver .
Source of production .
Mine production of gold and silver since 1792, fine ounces and value
Mines:
Gold, of Venezuela . . .
New, of Witwatersrand, not forthcoming .
Production distributed as reported by owners .
Mining:
In British Columbia, progress of .
In Colombia, progress of .
In Kwangsi, South China .
Minor assay offices .
Minor coin plant improvements .
Minor coins:
Blanks and metal purchased, quantity and cost .
Calendar year 1912 .
Distribution, expenditures for fiscal year 1913 .
Fiscal year 1913 . .
Issued, melted, and outstanding . . .
Operations of melter and refiners and coiners, fiscal year 1913...
Recoinage, fiscal year 1913 .
Seigniorage on .
Uncurrent transferred from Treasury .
Mint at:
Brussels, Belgium, abstract of operations .
Denver, operations . .
Philadelphia, operations .
San Francisco, operations .
Mint service:
Appropriation, 1913 .
Business, 1893-1913, compared... . .
Business, employees, and expenditures .
Deficiencies, Denver Mint and New York assay office .
Estimates for 1915 .
Missouri:
Production of .
Review .
Source of production .
Montana:
Production of .
Review .
Source of production .
Money, stock of, in United States, June 30, 1913 .
Montenegro, coinage lor, by Austria .
Morocco:
Coinage of, 1911 and 1912 .
Coinage for, by France .
Monetary statistics of .
Mozambique, production of gold .
Movement of gold :
From port of New York, fiscal year 1913 .
To ana from China .
To and from India .
Mukden, monetary statistics .
Muscat:
Gold and silver used in the arts .
Monetary statistics of .
Page.
20
52
.. 104
. 129
64,128
.. 286
242, 243
. 244
. 245
. 294
. 311
. 244
. 285
. 290
. 300
51
29
20
. 283
. 120
18
21
52
86
. 102
86
.. 156
■ 7,8,41
. . 7, 23
. . 8, 37
13
12
13
242, 243
. 233
. 244
242, 243
. 234
. 244
. 61,60
148
.. 104
.. 160
.. 219
.. 307
58
258
66, 256
208
249
190
INDEX.
327
N.
Nanking, monetary statistics .
Natal, production of gold and silver .
National Bank of Belgium, reserves since 1908 .
National Bank of Switzerland .
Net exports, United States gold coin, since 1870 .
Netherlands, East Indies, coins of, weight and fineness
Netherlands:
Coins, weight and fineness .
Coinage, 1911 and 1912 .
Industrial consumption .
Monetary statistics of . . .
Nevada:
Production of gold and silver .
Review . . .
Source of production .
Newchwang, monetary statistics .
Newfoundland, coinage, 1911 and 1912 .
New Mexico:
Production of .
Review . - .
Source of production . - ----- - .
New South Wales, production of gold and silver .
New York assay office:
Operations .
Earnings, 1910-1913 .
New Zealand:
Imports and exports .
Monetary statistics .
Retail prices of food since 1900 .
Production of gold and silver .
Page.
. 206
. 303
. 2o2
. 187
60
. 178
. 177
. 104
. 257
64, 176
242, 243
. 243
. 244
. 206
104, 165
. 242
. 235
. 244
. 301
. 10,47
11
. 225
. 225
72
. 301
Nickel :
Blanks purchased for coinage purposes . . .
Bronze, gold, and silver operations .
Perforated coins of France .
Purchased, quantity and cost .
Nicaragua :
Coinage, 1912 .
Commerce of . . . . . . . . . .
Monetary statistics of . ’ • .
New currency act . *[***‘‘’”*’ . 286,
Production .
North Carolina: , M . 239, 242,
Production of gold and silver . ’“'!!!!!!!!!. .
Review . .
Norway: _
Coinage of, 1911 and . .
Imports and exports .
Monetary statistics of . . . - - — : .
Retail price of food since 1900 . ... ------
Production of gold and silver 1907-191 ■
rroaucuuu ui fcwiv* ■ — ~ A n
Nova Scotia, production of gold and sil ve ^ •
Numismatic collection of 1 in lad p
64,
20
52
161
20
104
131
131
131
287
243
239
244
302
104
179
179
71
297
284
23
O.
Officers of the service. . ... - - - -
Ontario, production of gold and silver. . -
Operations:
Mint service . -•-- - • ■
Assay office at New York. .
Assay office at Seattle .
Mint at Denver. . . .
Mint at Philadelphia . -
Mint at San Francisco .
7
284
7
10,47
50
7, 41
23
37
328
INDEX.
Ore and bullion exports: Page.
From Bolivia and Chile . 288
From Colombia . 290
Oregon :
Production of gold and silver . 242, 243
Review . ’230
Source of production . 244
Ownership of gold and silver in United States, June 30, 1913 . 61
P.
Panama:
Imports and exports .
Industrial consumption .
Monetary statistics .
Production of gold and silver .
Production of gold and silver, source of .
Paper money and metallic stock, Dec. 31, 1912 .
Paraguay, monetary statistics .
Parting and refining fund .
Peking:
Draft law for unification of silver coinage .
Imports and exports . .
Monetary statistics .
Pennsylvania, source of production .
Per capita principal countries of world, monetary systems, and
stock of money, Dec. 31, 1912 .
Persia, coinage, 1911 and 1912 .
Peru:
Coinage, 1911 and 1912 .
Coinage of gold .
Commerce of .
Imports and exports .
Monetary statistics of . " * "
Price of silver . " ’ ’
Production of gold .
1903-1911 .
Source of .
Philadelpliia Mint operations . .
Philippine Islands:
Coinage, 1911 and 1912 .
Coinage, by United States . !!!”"!”! .
Production of .
Recoinage .
Placer mining in British Columbia. ...... . !...!!..!!.! .
Porto Rico, production of gold and silver, 1911 and 1912 .
Pieces, average, per die .
Portugal: .
Coinage; 1912 .
Industrial consumption .
Monetary statistics of . ’’’
Production of gold and silver. . .
Portuguese India, coinage, 1912 . .
Precious metals, imports and exports, world .
Price of silver: .
Average, highest, and lowest .
In London since 1833. . .
In Peru, 1911 . .
Prices: .
. 134
. 257
. 133
. 286.287
. 287
. 261
. 64,143
. 15
. 209
. 209
. 208
. 244
approximate
. 64
. 104
. 104
. 143
. 144
. 144
. 64,143
. 293
. 291
. 292
. 293
. 7, 23
. 104
. 283
. 237
. 51
. 285
. 243
. 51
. 104
. 257
. 64,179
. 298
. 104
. 267
. 261
. 268
. 293
Average retail, of food, principal countries of world since 1900
OlSS1'’ °‘ KW aml commSS.900.
Prices and gold. . ...... . . . . . !!!!![. .
Produca*11^8 °* aa8a^r commission, 1913 _ V.. .
Gold, approximate disposition .
' by SUte8 and Territ°ries, 1911 and 1912, ‘increase or decrease
71
70
70
67
56
241
243
INDEX.
329
Product — Continued.
Silver, approximate disposition .
Silver, by States and Territories, 1911 and 1912, increase or decrease
Production:
Gold and silver, by mines, since 1792 .
Gold and silver, distributed by mines.... .
By producing States and Territories, estimate of directo r .
Precious metals in United States, 1912 .
Silver, distributed as to source since 1901 .
United States . . .
Production of gold and silver in foreign countries:
British Columbia .
British North America.w .
Alberta . . .
British Columbia .
Nova Scotia . . .
Ontario .
Quebec .
Yukon .
Mexico . . .
Central American States, table .
Costa Rica .
Guatemala .
Honduras .
Nicaragua . .
Panama .
Salvador .
South America —
Argentina . . . . .
Bolivia and Chile .
Brazil .
Colombia .
Ecuador .
Guiana, British .
Guiana, Dutch .
Guiana, French .
Peru .
Uruguay .
Venezuela .
Europe —
Austria-Hungary .
Belgium .
France .
Germany . . .
Great Britain .
Greece .
Italy .
Norway .
Portugal .
Russia. . .
Servia .
Spain .
Sweden .
Turkey . .
Asia —
British India .
China .
Indo-China .
Japan .
Korea (Chosen) .
Siam .
East Indies —
British East Indies., .
British North Borneo .
Dutch East Indies .
Federated Malay States . - .
Australasia, table, by States .
Page.
. 242
. 243
.. 245
. 244
.. 242
,. 227
.. 244
.. 229
. 284
. 284
. 284
. 284
. 284
. 284
. 284
. 284
. 286
. 286
286, 287
286, 287
286, 287
286, 287
286, 287
286, 288
. 288
. 288
. 289
. 290
. 290
. 291
. 291
. 291
. 291
. 294
. 294
. 294
. 295
. 296
. 296
. 296
297
. 297
. 297
. 298
. 298
. 298
. 299
. 299
. 299
. 299
. 299
. 300
. 300
. 301
. 301
. 301
. 302
. 302
- 302
. 302
330
INDEX.
Productionof gold and silver in foreign countries— Continued.
Algeria .
Bechuanaland . . .
Boma, Kongo . . .
Cape Colony . .
Egypt . • - . .
French West Africa .
German East Africa .
Liberia . .
Madagascar . .
Mozambique .
Natal . .
Rhodesia . . .
Transvaal . !!!!!!!!!!!!*!”* .
Union of South Africa .
West Africa . .
World . ;;;;;;;;;;;;;;;; .
Proof coins and medals. . .
Progress of mining in : .
British Columbia .
Colombia . " * .
Purchases and deposits of silver. .
Purchases, quantity, and cost of metai used in minor coinage'/.
Page.
.. 310
. 310
- 308
302, 303
. 307
. 310
. 308
. 308
. 308
. 308
- 303
310
303
304
309
311
23
285
290
17
20
Q.
Quebec production of gold and silver .
Queensland production of gold and silver.
284
302
R.
Ratio of silver to gold since 1687 .
Raw commodities, average wholesale price .
Receipts and disposition of gold bullion, fiscal vear 1913 .
Receipts, disbursements, and balances of gold bullion
Recoinage of: .
Domestic gold and silver uncurrent coins, table
Minor coins .
Philippine coins . !.!.!.!.!. .
United States silver coins since 1891 . .
United States silver dollars since 1883 .
The world . . /. / .
Record of Witwatersrand mining .
Refineries, Government, work of . | ’’’ .
Refinery, important change, Denver Mint . .
Reimbursement, expenditures, balance, and appropriations of mint
Retail prices of food in principal countries since 1900 .
Rhodesia:
Production of gold and silver .
Source of .
Since 1898 . ”
Roumania:
Coinage, 1911 and 1912 .
Coinage for, by Belgium . ' ’ " * ” ’ '
Coinage for, at Brussels and Hamburg . . ." '
Monetary statistics of . '////
Monetary system and approximate stocks .
Russia: .
Coinage, 1911 and 1912 .
Industrial consumption . !..!!.!!!!!!
Gold production and concession in the Altai . 1.
Monetary statistics of . "/...*.."
Monetary system and approximate stocks .
Retail prices of food since 1900 . .' .
Production of gold and silver.... . [
. 269
. 70
. 54
. 55
. 86
. 21,86
. 21
. 63
. 62
. 109
. 305
. 22
. 41
service.... 14
. 71
. 310
. 310
. 303
. 104
. 154,157
. 180
. 180
• . 64
. 104
. 257
. 289
. 182
. 64
. 71
. 298
INDEX.
331
s.
Page.
Sale of sweeps, loss on, and wastage from operations .
Salvador:
Coinage, 1911 and 1912 .
Monetary systems and approximate stocks .
Production of gold and silver . . .
San Domingo (Dominican Republic), monetary statistics
San Francisco mint operations .
Sarawak, coinage, 1911 .
Seattle assay office:
Employees and deposits .
Employees and expenditures, 1893-1913 .
Operations. . . .
Seigniorage on coinage, table .
Servia:
Coinage of silver and nickel .
Coinage of Bmall money .
Industrial consumption .
Imports and exports .
Monetary statistics . . .
Production of gold and silver .
Shanghai, monetary statistics of .
Siam:
Coinage for, by Belgium .
Imports and exports .
Monetary statistics .
Production of gold .
Silver and gold :
Assays of coke from Cambria (W yo.) coal .
Bars furnished for use in the arts
In United States .
Since 1880 table .
World .
Table of .
54
. 104
64
286, 288
64, 135
. 8,37
. 104
52
12
50
. 102
. 183
. 183
. 258
. 183
64, 182
. 298
. 211
. 157
. 216
64, 215
. 301
. 238
. 246
. 247
. 248
. 259
Coinage — . 107
By acts since 1792 . 105
By mints . ’ ' 283
Calendar year 1912 . . . • - . . ] " . 107
Fine ounces and value since . .
Fiscal year 1913 . . ‘ ’ ] 104
Of world . 96
Domestic exports, table of . !!!!!!!!!!!!!! . 289
Exports from Bolivia . ’ . 100
Foreign exports, table of . . . . 92
as SK. by mine "I : m
Product by States and Territories, estimate of Direc . . . 8U
Product of the world, 1910, 1911, and 191- . . 284
U45
Production since 1792 . . 260, 261
Stock in United States. .... - - • - . . ; " " " . 62
Stock in United States B1^c® ^ ’ ' ' - ^'principal countries of the
Stocks, approximate, and monetary sj stems i * . 64
world .
Used in the industrial arts— 246
United States . ' " ” ” . 247
Since 1880 . 248
Wares assayed at Birmingham Uiei s totes1' December 31, 1912.'.'.*. !.”.... 260
Silver bullion and coin stock of United stares, e, . , . 195
Silver, coin, and bullion stock of , m i t ' * | ‘ ‘ jgoo . 264
Silver bullion exported from United States since . G1
Silver bullion in mints and assay o dices. . 260
Silver bullion in mints and assay offices, Decemoer oi, . .
332
INDEX.
Silver:
Commercial ratio to gold since 1087 .
Coinage of the world, 1911 and 1912 . .
Coinage, Peking, unification of . .
Coinage, Beigniorage . ” ‘
Coins melted by certain countries . .
Cost of producing, Cobalt district . .
Course of .
Deposits and purchases, calendar year 1912 .
Deposits and purchases, fiscal year 1913 . . . . .
Deposits since 1885 . . .. ..
Dollar, bullion value of, since 1837 . ”
Dollars used in subsidiary coinage .
Exports from London to the East since 188i’ . . . ’ .
Fluctuations .
Highest, lowest, and average price .
Increase or decrease, production of .
Nickel, bronze, and gold operations .
Price of, during calendar year 1912 . !!!!!!!!!!!!
Price of, in London since 1833 . [[[
Price of, in Peru, 1911 . !!!!!!!!!!!!!!!!!!!!"!
Product, approximate disposition . ..!... .
Product, distributed by States .
Product, distributed by States, 1911 and 1912, increase or decrease
1 roduct, distributed as to source of production since 1901
Standard proposed by Chinese Republic .
Stock of, in United States . '
Stocks, approximate world .
World’s coinage, 1911 and 1912 . ’ . .
World’s production, 1910, 1911, and 1912 . ....!!” .
World’s production since 1860 .
World’s production since 1493, by periods.........
South Africa:
Gold and silver used in the arts .
Monetary statistics of .
South America:
Coinage, 1911 and 1912 .
Industrial consumption . ] !
Monetary statistics . " " "
Production of gold and silver .
South Australia, production of gold, table .
South Carolina:
Production of gold and silver .
Review .
Source of production .
South Dakota:
Production of gold and silver .
Review . ’
Source of production . . .
Southern Appalachian States, production of .
Spain: .
Coinage, 1911 .
Imports and exports . .
Monetary statistics . > . .
Stamped paper in Bolivia . . ! 1 ! .
Stamping bureau of Finland, returns since 1902...*.". ...! ! ! .
Stock of coin in United States:
June 30, 1913 .
By fiscal yearn since 1873 . !!!!.!
Stock of:
Gold in Germany .
Gold coin and bullion in India . !!!!!!!!
Gold and silver in United States since 1873 _ . . . . !!...!..!!!!!!!.
Metallic and ptmer money, Dec. 31, 1912 .
Money in the United States . ! ! ! !
Fiscal year 1913 . !.!.!!!!!!!! .
Stock , monetary . .
Page.
... 269
. . . 104
. . . 209
.. 37,102
. . . 109
. . . 285
... 261
. . . 272
82
. . . 106
. . . 103
62
. . . 265
. . . 261
. . . 261
. . 243
52
. . 264
.. 268
.. 293
.. 241
.. 242
.. 243
.. 244
.. 209
.. 60,64
64
.. 104
.. 311
.. 314
.. 315
.. 249
. 64,222
.. 104
248-259
. 64,138
.. 287
.. 302
242, 243
. 239
. 244
242, 243
. 237
. 244
. 239
. 104
. 184
64, 183
. 139
. 257
60
62
. 164
. 195
62
. 261
. 260
60
66
INDEX.
333
Straits Settlements: PaSe-
Coinage, 1911 and 1912 . 104
Coinage for, by British India . 191
Imports and exports . 217
Monetary statistics . 64, 216
Subsidiary silver, seigniorage on, fiscal year 1913 . 102
Sudan gold fields . 309
Surplus bullion recovered . . . 54
Swatow:
Imports and exports . 212
Monetary statistics . , . 212
Sweden:
Coinage, 1911 and 1912 . 104
Imports and exports . 185
Monetary statistics . 64, 184
Sweeps:
Cellar operations . 82
Loss on sale of . 54
Swiss National Bank . 187
Switzerland:
Banking system of . 187
Coinage, 1911 and 1912 . 104
Imports and exports . 186
Monetary statistics . 64, 185
National bank . . - » . 187
T.
Tables, calendar year 1912:
Assets and liabilities .
Coinage of United States .
Coinage of the world. . - . - .
Commercial ratio of silver to gold since 1687... .
Dividends and gold yield of Wi twate rstrand .
Domestic production and deposits of gold, mints and assay offices .
Domestic production and purchases of silver, mints and assay offices .
Dredge output since 1906 .
Exports of silver bullion from United States since 1900 .
Exports of silver from London to the East since 1881 .
Gold and silver imported to and exported from British India since 1873. .
Gold and silver used in the arts since 1880 .
Gold bars exchanged for bullion and coin .
Highest, lowest, and average price of silver .
In London since 1833. . . . .
Imports and exports of bullion and coin . .
Imports and exports of precious metals from London .
Imports and exports of bullion to and from United Kingdom .
Location of metallic and paper money in United States .
Mine production since 1792 .
Production of gold and silver —
Africa, by Provinces .
Australasia, by States .
British North America .
Central American States . . .
United States, distributed by mines as to source .
United States, estimate of director .
United States, increase or decrease .
World, 1910, 1911, and 1912 .
World, ounces and value since 1860 .
World, since 1493, by periods .
Silver product, distributed by percentage as to source since 1901 .
Transit and transshipment of bullion and coin .
World’s industrial consumption, 1912 .
Tables, fiscal year 1913:
Assets and liabilities .
Average price of an ounce of gold in London since 1870 .
Coinage of nations, 1911 and 1912 .
Coinage of United States, by acts, since 1792 .
Coinage, United States, fine ounces and value, since 1873 . . ' ' ’
274
283
104
269
306
270
272
244
264
265
265
247
248
264
268
276
266
166
261
245
303
302
284
286
244
242
243
311
314
315
244
282
259
88
103
104
107
107
334
INDEX.
Tables, fiscal year 1913 — Continued.
Coinage, United States, by mints, since 1792 .
Bullion value of a silver dollar since 1837 .
Deposits of gold since 1873 .
Deposits of silver since 1885 .
Domestic exports of gold and silver .
Domestic production and deposits of gold .
Domestic production and purchases of silver .
Earnings and expenditures . .
Foreign coins melted by various countries...* .
Foreign exports of gold and silver .
Mutilated and uncurrent coins received for recoinage .
Recoinages of the world .
Seigniorage on coinage and its distribution .
Tasmania, production ol gold, table .
Tennessee:
Production of gold and silver .
Review .
Source of product .
Texas:
Production of gold and silver .
Review .
Source of product .
The course of silver .
Tientsin:
Imports and exports .
Monetary statistics .
Tin, purchase for use in minor coinage .
Transvaal and Witwatersrand, monthly gold output, ounces and value
Transvaal:
Comparative data and dividends .
Dividends and output, 1911 and 1912 .
Gold and silver used in the arts . . .
Gold output . .
Gold production by provinces and source, 1911 and 1912 .
Gold production, 1912, by months . .
Gold production since 1889, table . .
Gold production, tonnages and source, 1911 and 1912 . .
Gold yield and dividends since 1887 . .
Imports and exports .
Monetary statistics .
Travancore, coinage, 1911 and 1912 .
Turkey:
Coinage, 1911 and 1912 .
Monetary statistics .
Production of gold and silver, 1906-1910 .
Tunis:
Coinage, 1911 and 1912 .
Coinage for, by France . .
U.
Uncurrent domestic coin melted .
United Kingdom, imports and exports . .
United Kingdom retail prices of food since 1900
Union of South Africa, production of gold .
United States:
Coinage acts . < .
Coinage by denomination since 1792 .
Coinage, calendar year 1912 .
Coinage fiscal year, 1913 . - .
Coinage, ounces and value since 1873 .
Coinage, 1911 and 1912 .
Gold com in Canada .
Industrial consumption .
Operations of mints and assay offices .
Production by States . .
Production of gold and silver . ,
Page.
.. 110
.. 103
.. 105
.. 106
96
.. 78,80
.. 82,84
90
.. 109
.. 100
86
.. 109
.. 102
.. 302
239, 243
. 239
. 244
240, 243
. 240
. 244
. 261
. 213
. 212
20
. 304
. 307
. 307
. 249
. 307
. 304
. 304
. 303
. 304
. 306
. 223
. 222
. 104
. 104
64, 189
. 299
104
160
62, 63, 86
. . 266
71
.. 304
.. 107
.. 110
.. 283
18
107
-- 104
63
- 92,276
-- 246
23
.. 229
242
INDEX.
335
^ ^Production of gold and silver .
Review . - .
Source of production .
Y.
Value of foreign coins .
Venezuela:
Coinage for, by France . . . - . . ••-••••
Decree relative to importation and exportation of gold com
Gold mines of .
Imports and exports .
Monetary statistics of .
Production of gold and silver.. .
Victoria, production of gold and silver .
Virginia: , ,
Production of gold and silver .
Review . .
Source of product .
W.
Washington:
Production of gold and silver .
Review .
wirand°KnUSq andfgina i-om opeation..
West Africa, production of gold since 1880 .
West Africa, French, production of go Id. ... . - - • ■ ■ - • • . .
West Coast of Africa, production of gold since 188 .
Western assay offices: _
Appropriation for transportation of bullion . __
Decrease in deposits of bill lion. — - .
Western Australia, monetary statistics ot • - • - - ; ’ * ’ *
Witwatersrand and Transvaal monthly output g
Witwatersrand: . .
New mines of, not forthcoming .
Production of gold . . .
Record of mining in .
Work of Government refiners .... . - . 7/. . .
Work of laboratory, Bureau of Mint .
World: , .
Coinage, 1911 and 1912 . - . .
Coins melted by various countries. . . - - • .
Coins, value of . . . .
Coins, value of, changes . . * .
Imports and exports. . . .
Industrial consumption . .
Monetary statistics. . . v;;; * * 7. . 7 .
Monetary system and approximate stock . . .
Production, 1910, 1911, and 1912 . . . . .
Production since 1860 . • - \ . .
Production since 1493, by periods . •*”""* .
'oV food of principal »ant,Yc.'»mce 1*«-
Wy0K?y of gold and .live, of coke n.ade from CaMbria coal.
Production of gold and . . .
Review . - . . ’ .
Source of production .
Y.
Yukon, production of gold and silver .
Z.
Zanzibar:
Imports and exports .
Monetary statistics of . . . -
Zinc, etc., purchased for use
in minor coinage.
o
Page.
242, 243
. 239
. 244
73
. 160
. 147
. 294
146, 294
64,146
. 294
. 302
242, 243
. 239
. 244
239, 243
244
244
54
309
310
303
11
11
302
304
311
303
305
22
-•
55
104
109
73
75
266
248
.. .
125
64
311
314
315
109
71
238
. 242,243
... 244
... 244
284
222
221
20
'
.
,
• '
ANNUAL REPORT OF THE
Director of the Mint
FOR THE FISCAL YEAR
ENDED JUNE 30
1912
AND ALSO REPORT ON
The Production of the
Precious Metals
IN THE CALENDAR YEAR
1911
WASHINGTON
GOVERNMENT PRINTING OFFICE
1913
Treasury Department,
Document No. 2671.
Director of the Mint .
CONTENTS.
REPORT OF MINT OPERATIONS.
✓
Offices of the service .
Electrolytic refineries . . . .
Assay office at New York .
Philadelphia mint . \ .
San Francisco mint .
Number of employees in the service .
New nickel pieces. . . . .
Gold-certificate bars .
Estimates for fiscal year 1914 .
Annual appropriations for 1912 .
Appropriations, reimbursements, expenditures, and balances
Earnings and expenditures of refineries . . - .
All income and expenditures on account of mint service .
Deposits of gold bullion . . . . .
Deposits of foreign gold bullion and coin .
Deposits and purchases of silver . - .
Deposits of foreign silver bullion and coin .
Comage . .
Average number of pieces struck per die .
Purchase of minor coinage metal .
Distribution of minor coins . . .
Minor coinage, issue, melted, and amount outstanding .
Philippine coinage .
Work of Government refineries . . * - * - - * .
Exchange of fine-gold bars for gold coin and gold bullion .
Operations:
Mint at Philadelphia .
Mint at San Francisco .
Mint at Denver .
Assay office at New York .
Assay office at Seattle . : .
^ Other assay offices . - - . / -,y .
Deposits, earnings, and expenditures of all offices .
Operations of melters and refiners and coiners . - . .
M astage and loss on sale of sweeps and gains from operations .
Balances, receipts and disbursements .
laboratory of tne Bureau of the Mint .
Proceedings of the assay commission. - .
Movement of gold from the port of New York .
Net exports of United States gold coin .
Stock of money in the United States . ;; - ; • •; ; .
Estimated stock of gold and silver in the United States .
United States gold coin in Canada . ••••• . .* * * ; ' * ‘ mrr^te and ner
Monetary systems and approximate stocks ^ ~
capita in the principal countries of the world, lui .
Monetary stock of gold .
The gold movement to India . - - . ’ * .
Production and distribution of gold. * - * * * * ' j V " * ‘ ha _
United Slates gold coin imported and melted by various countnes....... .
Values of foreign coins .
Monetary legislation . * ’ .
Appendix (tabulated data.) . . . .
Monetary statistics of foreign countnes .
Page
3
3
3
4
4
5
5 .
5
6
6
7
8
8
11
11
12
12
12
14
14
14
15
15
16
17
17
29
41
44
52
54
54
55
56
57
58
59
61
62
63
64
65
66
68
68
70
71
72
74
75
123
IV
ILLUSTRATIONS.
REPORT ON PRODUCTION OF THE PRECIOUS METALS.
Production and consumption of gold and silver in the United States during the
calendar year 1911 .
Appi oximate gold product .
Approximate silver product .
Dredge production . . .
Production of gold in the Appalachian States .
Mine production . . .
Gold and silver used in industrial arts in the United States .
The world’s industrial consumption .
Exports of silver to the East. . .
Imports and exports of bullion into and from London. . . .
Gold and silver imported into and exported from British India .
Stock of money in the United States .
The course of silver .
World’s production . .
World’s coinage . . . - .
Production of gold and silver in foreign countries .
Great gold mines .
General statistics .
Pago
215
226
227
230
230
232
233
236
241
242
242
243
246
250
251
252
278
280
PART I.
REPORT OF THE DIRECTOR ON THE OPERATIONS OF THE
MINT SERVICE FOR THE FISCAL YEAR 1912.
1
EE POET
OF THE
DIRECTOR OF THE MINT.
Treasury Department,
Bureau of the Mint,
Washington, January 10, 1913.
Sir: In compliance with the provisions of section 345, Revised Stat¬
utes of the United States, I am submitting herewith a report covering
the operations of the mints and assay offices of the United States for
the fiscal year ended June 30, 1912, being the fortieth annual report
of the Director of the Mint. I am also submitting for publication in
connection therewith the annual report of this bureau upon the pro¬
duction and consumption of the precious metals in the United States
for the calendar year 1911.
OFFICES OF THE SERVICE.
The mints at Philadelphia, Denver, and San Francisco were in oper¬
ation throughout the fiscal year. The assay office at St. Louis was
discontinued at the close of the fiscal year 1911 and ie e3^P,
shipped to other offices. The assay offices at ^ew or> , nJ
Deadwood, Helena, Boise, Salt Lake City, Carson, ISew ,
Seattle were open to deposits as usual. York
In January, 1912, the new electrolytic refinery in the New York
office was started up and has been m operation co , Vlose of
excepting while the annual settlement was uni u }
the fiscal year.
electrolytic refineries.
the Phlweffa
Mint, leaving three refineries in opeia }°n- . ervjce js based on
The electrolytic process as to
the WohlwiU patents, but the practice has been n a - high.grade
suit the conditions. It gives pod . ies » 1 ’ j in coinage operations,
bullion, ductile and favorable to the best results co „ i
ASSAY OFFICE AT NEW YORK.
, .... . York No. 32 Wall Street, was
The old assay office building a > entire establishment
finally vacated during the last fiscal yeai, 3
4 report of the director of the mint.
, . turn nor aril V into the new building on the rear of the
kTIhich is planned to be devoted eventually to the melting and
re™sSsitePwl?bought in 1822 by the Bank of the United States,
which erected the budding now standing upon the property. The
United States assay office was established upon these premises m Sep-
tember 1854 but from that date to 1873 the assay office occupied
only the upper floor, the Government renting the ground floor to
private parties. . , , ,
The building will be torn down at an early day to make room for
a new structure for which an appropriation has been made. The
present quarters are very much cramped and the working force labors
under serious inconvenience and discomfort.
PHILADELPHIA MINT.
The refinery in the Philadelphia Mint has been discontinued, be¬
cause with a refinery in operation at New York the amount of crude
bullion received at Philadelphia is insufficient for economical opera¬
tions. The western bullion which formerly came to this mint now
goes to the Denver Mint and bullion imported at New York is received
at the New York office. So much of the Philadelphia equipment as
could be advantageously used at New York was transferred.
During the year a new set of 16-inch rolls, the heaviest ever used
in our mint service, were installed for handling the minor coinage.
They will take an ingot 24 inches long, 4^ inches wide, f of an inch
thick and produce a strip from which six bronze or five nickel
planchets may be struck at once. Por other changes in the equip-
ment of this mint reference is made to the report elsewhere.
oa« JV.KA.IN CISCO
°f fiscal ycar 1912 the superintendent of that
f " !°Vhe I?°n' Edward Sweeny, has died, and the Hon. Frank
of the Mi’nt superintendent of the same mint and later Direct?]
oi tne Mint at VV ashimrton. ba« Wn _ ...
number of employees in the service.
dimmution^being S'h'v'-S mint servife continues to show
Tins continuous feStin^® 5" July >• ,912. than on July 1, 1911-
the main to the introrln dllG 'V Part to a smaller coinage, but m
machinerv. The rnin«r, ctlon ai^d more efficient use of automatic
as a result, of the act nioL° • • d ^,as keen less than in previous years
gold bullion. orizing the issue of gold certificates against
OPERATIONS OF THE MINT SERVICE.
5
The number of employees at each institution at the beginning and
end of the fiscal year is given herewith, all officials included:
Institution.
July 1,
1911.
July 1,
1912.
Philadelphia .
* 356
333
San Francisco .
138
124
100
93
New Orleans .
14
13
New York .
G6
89
10
8
10
10
12
8
Charlotte . .
4
3
D Midwood .
5
5
24
19
Salt Lake Citv . - . . - . .
8
6
Total .
747
711
NEW NICKEL PIECES.
During the year Mr. J. E. Fraser, of New York, was invited to
submit designs for a new 5-cent nickel coin and be has prepared de-
signs that have been accepted. The features of the piece, in addition
to the inscriptions required by law, are an Indian head for the o n erse
and a buffalo for the reverse. The coin is distinctively characteristic
of America, and in its execution promises to take high artistic rank
among the coinages of the world. It seems peculiai y appropna i
that uie Indian and buffalo should be associated permanen >
national memorial, and there can be no better form foi ^uc
than a popular coin.
GOLD CERTIFICATE BARS.
At the close of the fiscal year refined gold b ai * ’ t j ^visions
their weight, fineness, and value, m accordance _ or the issue
of the act of Congress approved March _, 1 J , PL 9. -n were
of gold certificates against gold bullion am or^t- v York as follows :
held at the several mbits amt the assay office at New l ork as lonows.
. $10,094,982.26
New Y ork assay office . . . ioo’ I77 lo
Denver Mint . . . 56,755,513.06
San Francisco Mint .
Total .
. 109,048,917.92
No certificates have been issued agams i P * (j qfie object in
this feature of the act will probably be s -n woup| j)e more
view, which was to avoid the melting o n!ftional banks to include
effectively accomplished by authonzin . ^ invoice
foreign coin in their reserves, as foi * . loss Up0n being
of coin, even if fresh from a included. A
melted, and there is always a nsk t f them in the regular
bank may import foreign coins and 1 , . ])Ut if the Treasury
course of business without melting, y e. P ^ can disposed of at
receives them there is no assurance t _ • , jn exchange opera-
their face value. The Treasury 1? not and expense.
tions and can not export them without inconvenience
6 REPORT OF THE DIRECTOR OF THE MINT.
Tf melted they are certain to show a loss from their face value The
nX condition under which the Treasury could safely issue certificates
asamst orekm coins would be where an agreement was made with
proper security for its performance, by which the coins would be taken
off its hands at their face value.
ESTIMATES FOR FISCAL YEAR 1914.
The total estimates for the mint service for the fiscal year 1914,
including all expenditures heretofore paid from earnings, are
$1,222,270, which compares with $1,228,920, appropriated for 1913,
a reduction of $6,650. .
Prior to the present year all expenditures incidental to the mainte¬
nance and operation of the refineries connected with the service were
made directly from current earnings. The law contemplates that
this branch of the service shall be self-supporting, and to this end
charges are imposed upon all bullion whicn requires treatment to
fit it for coinage. These earnings in the past have been paid into
the Treasury to the credit of the parting and refining fund and were
all available under a continuing appropriation for the payment of
the costs of refining operations. Beginning July 1, 1912, this prac¬
tice was changed. The estimates for the mint service for the fiscal
year 1913 included the sums required for operating the refineries.
The expenses connected with these operations are now being paid
from tne regular appropriations, and the earnings are turned into
the general fund of the Treasury as miscellaneous receipts. The
earnings from all refinery sources during the last fiscal year, including
the proceeds of sales of by-products and the surplus bullion recovered,
amounted to $359,315.29, while the expenditures against these earn¬
ings were $237,912.99.
ANNUAL APPROPRIATIONS FOR 1912.
The amounts appropriated for conducting the mint service during
™£?kCal yeai79}2 tota!ed $1>178,670, to which should be added the
(7 d?2e for the Philippines and San Salvador
: t f mted States Government institutions, amount-
nnntim lAUn * ]’ a*s? u^exPen(led balances of permanent appro-
,n° ®,2.0’483-85 and reimbursements thereto
use durin” the h”’ V'’1 ’ ^!fls Slves the total amount available for
use durmg the fiscal year 1912, $1,253,150 96
noted) toul1 tf 020 4frw^7ab,°V0 / un,ds (incimling the reimbursements
be added $1’022>433-07> to which a few minor unsettled bills may
(PSa!IentPappmtri^n' Uw f 30’7!7-89- «» which *13,353.35
used, and the remSnder toiTutfsli contlnuea to bo available until
the Treasury. ’ ‘,364.54, reverts to the surplus fund of
refineries. b ( 8 d° UOt ^n<dudo expenditures from the earnings of the
statement: ^ mstltlltlons> are shown in the following tabulated
OPERATIONS OP THE MINT SERVICE,
Appropriations, reimbursements, expenditures, and balances, all offices, fiscal year 1912.
Items.
Office Director of Mint:
Appropriated for 1912 - $29,280.00
Expended . 27,094.72
Unexpended balance..
Mint at Philadelphia:
ated for
Appropriated for 1912 - 1 SO. 300. 00
Repayments
Unexpended balance of
permanent appropria¬
tion.
Available for use . I 80,300.00
Expended . | 74,851.12
Unexpended balance.
Mint at San Francisco:
Appropriated for 1912 - 1 54,300.00
Repayments
Available for use . I 54.300
Expended . \ . 50.374.91
Unexpended balance _
Mint at Denver:
Appropriated for 1912 _ I 48. 100.
Unexpended balance of
permanent appropria¬
tion .
Expended . | 46.326.
Unexpended balance . .
Assay office, New Y ork :
Appropriated for 1912 _ I 46,500.
Repayments .
Unexpended balance of
permanent appropria
tion...p .
Available for use . I 46, 500. 00
Expended . | 46,013.89
Unexpended balance _
Mint, New Orleans:
Appropriated for 1912 _ 10,300.00
Expended . 7.900.00
Unexpended balance _ | 2, 400. 00
Mint, Carson:
Appropriated for 1912 _ 6,350.00
Expended . | 6,350.00
Unexpended balance
Assay office, Helena: . ^
Appropriated for 1912 - 10.400.00
Expended . | 8,800.00
Unexpended balance. .
Assay office, Boise:
Appropriated fo
Appropriated for 1912 — S.OoO.uu
Expended . | 8,050.00
Unexpended balance
i Chargeable, as
indicated in parentheses, to the various offices.
8 report of the director of the mint.
ha,anm ’ ojr 'fe™' !,Mr i9K"
Appropriations.
Items.
Assay office, Charlotte:
Appropriated for 1912. . . .
Expended .
U nexpended balance .
Assay office. Dead wood :
Appropriated for 1912...;
Expended .
Unexpended balance _
Assay office, Seattle:
Appropriated for 1912....
Expended .
U nexpended balance .
Assav office, Salt Lake:
Appropriated for 1912. . . .
Expended .
Unexpended balance.
Totals, entire service:
Appropriated for 1912....
Repayments .
Unexpended balance of
permanent appropria¬
tions .
Salaries.
Wages of
workmen.
$1,500.00
1,500.00
6.450.00
6.271. 12
178. SS
13,050.00
13.050.00
7,100.00
7, 100.00
321,680.00
Available for use . 321 680
Expended..... . SOS.JaLsT
U nexpended balance _ 17, 998. 13
$900.00
895.00
5.00
2.300.00
2,300.00
22,000.00
16.913.57
5,086.43
4,500.00
3,883.50
616.50
627,440.00
32,279.37
00
659,719.37
532,506. 49
Contin¬
gent ex¬
penses.
$500.00
477.26
22.74
1.500.00
1,368. 18
131.82
6,500.00
4,572.99
1,927.01
3,500.00
2,710.20
789.80
179,550.00
19, 161.74
198,711.7
149.980.47
127,212.88 48,731.27
Equip¬
ment
New
York
assay
office.
Freight
on bul¬
lion and
coin.
($88.70)
(3,973.75)
(10,108.17)
$17,823.60
17,823.60
9,686.50
8, 137. 10
(1.099.40)
50,000.00
50,000.00
26,577.74
23,422.26
New ma¬
chinery
and ap¬
pliances.
Total.
$2,900.00
2, 872. 26
27.74
$2,556.30
2,659.95
5,216.25
5,216.25
10,250.00
9.939.30
310.70
41,550.00
34,536.56
7,013.44
15, 100.00
13,693.70
1,406.30
1,178,670.00
53.997.41
20,483.55
1,253.150.96
1,022,433.07
230,717.89
Earnings and expenditures of the re fineries at the several mints and the assay office at New
York for the fiscal year 1912.
Institutions.
Philadelphia . .
San Francisco
Denver.
New York..!;;
Total.
Charges
collected.
Surplus
bullion
recovered.
Receipts,
sale by¬
products.
Total
earnings.
Slo.7t9.86
47,355.21
92,291.13
93.174.41
S15.600.12
12,111.62
S72.124.59
$103,474.57
59,466.83
96,574.86
93,364.03
4,2S3. 73
189.62
248,570.61
27,901.36
76.40S.32
352, SS0. 29
Expend¬
itures.
$25,365.71
52, 862.85
4S.140.52
1 136.450.12
ALL INCOME AND
t new equipment: also cost of installing part of same.
EXPENDITURES on account of mint service.
Treasury on^accou^ofVp mcoi?e and expenditures of tlie
the silver and minor coins, is 1?^ud¥1g seigniorage on
«ii m tne following statement:
All incovie and expenditures on account of the mint service.
OPERATION'S OF THE MINT SERVICE
9
10
the director of the mint,
report of
OPERATIONS OF THE MINT SERVICE
DEPOSITS OF GOLD BULLION.
11
The value of all gold bullion contained in original deposits at the
mints and assay offices during the fiscal year 1912 was $151,929,881.
The redeposits during the year, consisting of bullion transferred from
one office to another and bars bearing the stamp of one of the mints
or assay offices, amounted to $28,817,726. The value of the gold
bullion and uncurrent domestic and foreign coin received, including
redeposits, amounted to $180,747,607, which was the total of gold
receipts at all offices.
Statements which show the classification of deposits, the source of
domestic bullion by States and Territories, and the receipts at the
several offices of the service appear in tabular form in this volume
elsewhere.
DEPOSITS OF FOREIGN GOLD BULLION AND COIN.
Foreign gold bullion containing 1,124,140 standard ounces, of the
value of $20,914,227, and foreign gold coin containing ,115,844 stand¬
ard ounces, of the value of $2,155,233, were deposited, and consisted
of bullion and coin produced in the following-named countries.
Crude bullion.
Refined bullion.
Coin.
Country.
s
Itandard
ounces.
Value.
Standard
ounces.
Value.
Standard
ounces.
Value.
British. Columbia .
Ontario and Quebec .
Nova Scotia. .
Mexico. .
48,485
935
6,017
2,995
46, 198
$902,047
17,395
111,944
55,722
859, 49S
9.269
" '774,'909'
$172,438
ii, 416, '612
. i,’is3‘
74
. $22,008
1,377
1/JA OOt
Central A rnerica .
bouth A
89, 2S7
145 473
1, 661, 154
2, 706, 474
9,101
lOVyOZL
^vuiu a uitrl lCd _ _ _ _ .
nest Indies .
Great Britain _
Spain . .ZZZZZ .
Germany .
France. .
Sweden"HUn^^ ' ’ ' *
"572
10,643
’l . .
TZZZ .
(“ZZZZZ
8,267
563
46
33
15
12
153,805
10,474
855
614
279
223
.
South Africa./. . .
iJPan . ZZZZZZZZ.. .
Mixed .
;;;;;;;;;
z .
Ill
...
•ZZZZZ...
1 .
6
10
95, OS7
426
112
186
1,769,060
7,925
Total . .
339,962
6, 324, S7i
r 7S4, 178
14,5S9,350
115,844
2, lOO,
12
REPORT OF THE DIRECTOR OF THE MINT.
DEPOSITS AND PURCHASES OF SILVER.
The deposits of silver received at the mints and assay offices dur¬
ing the fiscal year ended June 30, 1912, for return to depositors, in
fine or unparted bars, with the weight and fineness stamped thereon,
aggregated 2,000,291.55 fine ounces. The United States assay
office at New York received the greater part of these deposits.
The government of the Philippine Islands deposited at the United
States mint in San Francisco silver coins issued under the act of
March 2, 1903, containing 227,303 fine ounces, for recoinage into
coins of reduced weight and fineness as authorized by the act of
June 23, 1906.
The purchases and deposits of silver bullion at the mints and assay
offices of the United States during the fiscal year 1912 were as follows:
Items.
Fine ounces.
Cost.
Commercial bars purchased . .
3,462,471.76
1,328,866.37
1,982.54
10,347.65
2,000,291.55
227,303.00
$2, 021 , 856. 59
727,671.56
1,087.61
6,288.97
1,092,855.16
222,866.28
Unrefined deposits, partings, charges, and fractions. . . .
Mutilated and uncurrent coins .
Assay coins and surplus bullion .
F or return of fine bars .
Philippine coins transferred for recoinage .
Total .
7,031,262. 87
4,072,626.17
DEPOSITS OF FOREIGN SILVER BULLION AND COIN.
Foreign sdver bullion. containing 1,063,592 standard ounces and
foreign silver com containing 8,816 standard ounces were received
from various countries as follows : received
Country of origin.
Crude
bullion.
Refined
bullion.
Coin.
British Columbia .
Northwest Territory . . .
Nova Scotia . *’ .
Ontario and Quebec . . .
Mexico . . .
Central America . . .
South America . * .
West Indies . .
Spain . .
Mixed . . .
Total .
Stand, ozs.
8,313
211
184
2,389
500, 079
57,094
59,886
60
Stand, ozs.
Stand, ozs.
435,376
. ii
. 853
i ,026
6,923
- - - - - - - 1ZI
628,216
435,376
8,816
COINAGE.
pjc^ unted to 173,3s8,17e
OPERATIONS OF THE MINT SERVICE
13
Denominations.
Gold: .
Double eagles. .
Eagles . .
Half eagles. . . .
Quarter eagles.
Total gold...
Silver:
Half dollars....
Quarter dollars.
Dimes .
Total silver.
Minor:
5-cent nickels.
1-cent bronze.
Total minor. . .
Total coinage .
Denominations.
Gold:
Double eagles.
Eagles .
Half eagles.
Quarter eagles.
Total gold.
Silver:
Half dollars -
Quarter dollars.
Dimes .
Total silver.
Minor:
5-cent nickels.
1-cent bronze.
Total minor...
Total coinage .
Philadelphia.
San Francisco.
Pieces.
Value.
Pieces.
Value.
130,329
104, 108
366, 167
356,238
$2,606,580.00
1,041,080.00
1,830,835.00
890,595.00
134,500
351,000
36,000
$2,690,000.00
3,510,000 00
180,000.00
950,842
6,369,090.00
521,500
6,380,000.00
. 1,848,665
4,016,665
. 29,480,665
904, 332. 50
1,004,166. 25
2,948,066.50
2,120,000
1,090,000
5,730,000
1,060,000.00
424,000.00
573,000.00
. 35,305,995
4,856,565.25
9,546,000
2,057,000.00
oo 107 7 PJL
1,159,388.20
609,981.95
. ) lOl ^ / V'X
. 60,998,195
3,494,666
34,940.66
. 84,185,959
1,769,370.15
3,494,000
34,940.00
.. 120,448,790
12,995,025.40
13,561,500
8,471,940.00
Denver.
Pieces.
1,329,880
20, 709,000
22,098,880
4,050,000
12,023,000
17,279,000
39,377,880
Value.
Total.
Pieces.
264,829
455,108
402,167
356,238
$604, 940. 00
‘*2, *070, ’900*66
2,741,840.00
232,800.00
120,230.00
359,030.00
3, 100,870.00
5,258. 545
5,712,005
55,979,065
60,950,875
27,843,704
77,115,195
104,958,959
173,388, 176
Value.
$5,296,580.00
4,551,080.00
2,010,835.00
890,595.00
2,029,272.50
1,428,100. 25
5,597,966.50
9,055,405. 25
1,392,188.20
771,151.95
2,163,340. 15
24,507,835.40
In addition to the regular domestic coinage there were manufac-
tUFilvereccdnage for San Salvador, made at the mint at Philadelphia,
ronsisted of 510,993 peso pieces. . 0 _
The coinage for the Philippine Islands was made at the San Fran¬
cisco Mint as follows: Pieces.
Pesos (silver) ... . i,lt;ooo
20 centavos (silver) . . 1 , 000, 505
10 centavos (silver) . . - - - - . 5, 703, 000
1 centavo (bronze) . .
Total .
76347° — 13-
8,253,505
14
REPORT OF THE DIRECTOR OF THE MINT,
Average number of pieces struck per die at the coinage mints dur¬
ing the calendar year 1912:
Denominations.
Philadelphia.
San Francisco.
Denver.
Obverse.
Reverse.
Obverse.
Reverse.
Obverse.
Reverse.
DOMESTIC.
Double eagles .
Pieces.
51,254
82,702
22,327
2s, 347
79,448
127, 107
203,941
166, 405
345,130
27,533
54, 055
Pieces.
51,2,54
82,702
28,486
40, 749
124, 847
163,886
208,281
166,405
355,880
27,533
43,724
Pieces.
Pieces.
Pieces.
Pieces.
Eagles .
77,536
105.595
77,536
105,595
Half eagles .
Quarter eagles . .
Half dollars .
92,552
71,243
201,723
23,972
221,152
123,403
59,369
m3, 299
23,972
192,305
56,243
172,480
Quarter dollars .
Dimes .
198,0112
86,018
381,075
172,254
93,241
323,337
5-cent nickels .
1-cent bronze .
FOREIGN.
Costa Rica:
10 centimos .
5 centimos .
Philippines:
Pesos .
122,939
7>o,nsi
50,738
143,289
122,939
41,323
50,738
125,378
20 centavos .
10 centavos .
1 centavo . . .
PURCHASE OF MINOR COINAGE METAL.
There was purchased during the year 17,143,339.05 ounces, equiva-
lent to 1,775,600 pounds avoirdupois, of minor coinage metal, at a
cost of $189,680.46, and delivered at the Philadelphia and Denver
Mints, as follows:
Metal.
Philadelphia.
Denver.
Total.
Ounces.
Cost.
Ounces.
Cost.
Ounces.
Cost.
Copper .
Tin .
Zinc .
Nickel .
13,132,798.44
278,009.37
335, 737.50
1,459,339.58
SI 14, 055. 47
8,279.44
1 , 366. 03
40,027.60
1,458,333.33
8,939.58
29,181.25
441,000.00
S13, 450. 00
275.85
130. 07
12, 096.00
14,591,131.77
286, 948. 95
364,918. 75
1,900,339.58
1127,505. 47
8,555.29
1,496. 10
52, 123. 60
Total .
15,205,884.89
163,728. 54
1,937,454.16
25,951.92
17,143,339.05
189,680.40
nrenared nirkelW^ r er? T? Purchased 8,000 pounds of
oi as: &
distribution of minor coins.
^n7l?7tf^°-lnt .of mjn?r coins distributed was $2 471 215 35
from'' the" accumulated s^ock0^ ThTexfenTe^S Sib'T
Denomination.
5-oent, nickel .
1-ccnt, bronze .
Total distribution
Expenses .
From Phila¬
delphia.
From San
Francisco.
From
Denver.
Total.
$1,509,154. 70
SI 1 090 r.e:
$1,580,175. 35
890,040.00
767,332.90
$32,876.60
Cl 1 , Do
90,830.50
2, 336, 4S7. 00
27,937.22
32,876.60
84.50
101,851.15
1,800.00
2,471,215.35
29,821.72
OPERATIONS OF THE MINT SERVICE,
15
Minor coinage issued , melted , and amount outstanding.
Denomination.
Philadelphia:
Copper cents .
Copper half-cents _
Copper nickel cents. .
Bronze 1-cent pieces.
Bronze 2-cent pieces.
Nickel 3-cent pieces.
Nickel 5-cent pieces.
Total .
San Francisco:
Bronze 1-cent pieces
Denver:
Bronze 1-cent pieces
Nickel 5-cent pieces.
Total .
Grand total .
Coined.
Issued.
On hand.
Melted.
Outstanding
June 30, 1912.
SI, 562, 887. 44
39,920.11
$1,502,887.44
39,920.11
2,007,720.00
20,301,330. 10
912,020.00
941,349.48
34,710,540.05
$380,827. 41
$1,182,000.03
39,926.11
1,203,758.56
19,866, 475.09
571,759.68
057,837.53
31,405,804.55
2, 00?; 720. 00
20,381,811.83
912,020.00
941,349.48
35,910,350.05
803,901.44
434,854. 41
340,200. 32
283,511.95
3,304,681.50
$80,481.73
i,205,8i6.66
01,762,070.91
60,475,779.18
1,286,291.73 5,548,097.03
54,927,082. 15
157,980.00
144,466.10
13,513.90
144,466. 10
144,730.00
232,800.00
96,030.50
18,600.50
48,699.50
214,199. 50
96,030.50
18,000.50
. 377,530.00
114,631.00
262, 899. 00 .
114,631.00
.02,297,580.91
00,734,876.28
1,502,704.63
5, 548, 097.03
55,180,779.25
PHILIPPINE COINAGE.
The following coinage was executed during the fiscal year 1912 at
the United States mint at San Francisco for the Philippine Govern¬
ment:
Denomination.
Pieces.
Fine ounces
consumed.
Silver:
295,000. 00
1,255,000.00
1,000,505.00
151,748.00
121,053.22
48,257.82
2,550.505. 00
321,659.04
Bronze:
5,703,000.00
The total silver coinage to June 30, 1912, from coins received from
Philippine Islands for recoinage and from bullion purchased for such
coinage was as follows:
# Denomination.
Coined from new bul¬
lion, acts of Mar. 2,
1903, and June 23, 1906.
Coined from Philippine
coin received for re¬
coinage, act of June 23,
1906.
Total.
Pieces.
Fine ounces.
Pieces.
Fine ounces.
Pieces.
Fine ounces.
Pesos .
50 centavos .
20 centavos .
10 centavos .
93.445
3,342,126
3, 66(5, 152
6,077,392
48,068. 11
805,870.13
353, 600. 36
293,682.21
42,530.059
2,136.000
3.270,759
4,055.000
21,929,272.78
534.382.25
339.511.24
213,607.96
42,623,504
5,478. 126
6,936,911
10. 132,392
21,977,340.89
1,340, 252.38
093.111.60
506. G90. 17
Total .
13, 179,115
1,500.620. 81
51,991,818
123,016,774.23
65,170,933
, 24,517.395.04
• Included in this amount is 12,299.92 fine ounces ,°1 c^(s * a££f: r' (The btUanC° °f sflVer “°W
on hand to the credit of the Philippine Government is 423. 1J ounce*, nne.)
16
REPORT OF THE DIRECTOR OF THE MINT,
Of the coins manufactured for the Philippine Government under
the act of March 2, 1903, there were remaining in the Philippine
Islands June 30, 1912, the following:
Pesos .
50 centavos.
20 centavos.
10 centavos.
Total.
Denomination.
Pieces.
Value in
pesos
2.190.385
540.118
2.073.768
3, 882. 557
2,
8,692,828 3,
190.385.
273,059.
414,753.
388. 255. 70
266,453.30
WORK OF THE GOVERNMENT REFINERIES.
Bullion was operated upon by the refineries connected with the
coinage mints and assay office at New York during the fiscal year
1912, as shown by the following tables:
Bullion operations of the refineries.
Institutions.
Sent to refinery.
Returned from refinery.
Gold.
Silver.
Gold.
Silver.
Philadelphia .
San Francisco. .
Denver .
New York * .
r|' /\f r| 1
Stand, ozs.
240, 636.084
2,073,517.634
1,926,534.596
2,313,792.947
Stand, ozs.
622,501.47
439,190.34
1,710,630. 69
1,057,193. 01
Stand, ozs.
241,264. 253
2,073,738.009
1,926,265.297
2,313,803.139
Stand, ozs.
623,926.75
444,286.25
1,708,581.96
1,055,610. 67
l Ultll . . . .
0,554,481.861
3,829,515.51
6,655,070.098
3,832,405.63
Institutions.
Apparent gain.
Apparent loss.
Gold.
Silver.
Gold.
Silver.
Philadelphia... .
San Francisco. . .
Stand, ozs.
627. 569
220. 375
10.1*92'
Stand, ozs.
1,425.28
5,095. 91
Stand, ozs.
Stand, ozs.
Denver .
New York 1 .
269.299
. 2, 048." 73
1,582. 34
Total .
1 R pfinitirr
858. 136
6,521. 19
269.299
3,631.07
Helming operations in the new refinery began on Jan. 11, 1912.
Bullion upon teku* charges were collected and bullion owned by the Government
Institutions.
Philadelphia .
ban Francisco. . . .
Denver .
New York
Total .
Bullion uj
charges for
collected.
pon which
parting were
Bullion owned by the
Government retained by
the refinery for parting
purposes on which no
charges for parting were
imposed.
•
Total.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver
Stand, ozs.
00,917.674
793,751.150
1,464.267. 187
92,251.589
Stand, ozs.
242,041.91
269.362.69
758,597. 14
974,093. 31
Stand, ozs.
179,719.010
1,279,766. 484
462, 2G7. 409
2,221,541.358
Stand, ozs.
380,459.56
169,827.65
952,033.55
83,09*.). 70
Stand, ozs.
240, 636. 684
2,073,517.634
1,926,534. 596
2,313,792.947
Stand, ozs.
622,501.47
439, 190. 34
1.710,630.69
1,057,193.01
2,411, 187. 600
2, 244,095. 05 ^4, 143, 294. 261
1,5S5,420. 46 |6,554,4S1.861
3,829,515.51
88$
OPERATIONS OF THE MINT SERVICE.
17
By-product of refineries.
Institutions.
Electrolytic
copper.
Sponge platinum.
Sponge palla¬
dium.
Osmiridium.
Total.
Philadelphia .
Pounds.
Value.
Ounces.
891.55
70. 60
110. lo>
175. 50
Value.
$38,871.58
2,471 00
5,400. 97
7,634.25
Ounces.
116. .50
12. 82
14. 95
Value.
$5,056. 10
320. 50
485.87
Ounces.
Value.
Value.
$43,927.68
3.741.24
5,961.42
7.634.25
San Francisco.. ..
Denver .
New York .
5,126. 67
573. 70
$908. 44
74.58
1.18
$41.30
Total .
5,699.37
983.02
1,253. 80
54,377.80
144.27
5,862.47
1. 18
41.30
61,264.59
EXCHANGE OF FINE GOLD BARS FOR GOLD COIN AND GOLD BULLION.
The value of the fine gold bars exchanged for gold coin and bullion
monthly by the United States mint at Philadelphia and assay office
at New York for the fiscal year 1912 was as follows:
Exchanged for gold coin. | Exchanged for gold bullion.
Months.
Philadel¬
phia.
New York.
Total.
Philadel¬
phia.
New York.
Total.
1911.
July .
$479,633.18
$1,457,339.64
$1,936,972.82
$23,874.01
$404,836. 48
$428,710.49
August .
476,855.58
2,217,864. 70
2,694,720. 28
13,816.90
287,142. 36
300,959. 20
September .
581,998. 23
4,182,320. 48
4,764,318.71
26,457. 72
357, 184. 34
370,353. 07
383, 642.06
October .
610,821.81
4,740,719.96
5,357,541.77
27 ,.msr
397, 722. 144
November .
445,600. 29
2,239,395.07
2,684,995.36
2 1 , 643. 49
364,658.30
380,301.79
December .
312,448. 63
1,608,906.87
1,921,355.50
24,834.21
382,640. 93
407,475. 14
1912.
January .
500,013-11
1,989,988.51
2,496,001.62
17,599.04
313,219. 48
330,818.52
February .
564,073.09
10,091,055. 78
10,655,128.87
16,089. 92
319,022. 49
335,712.41
March .
027,184 27
5,893,418.58
6,520,002.85
18,429. 79
376,047.39
394,477. 18
April .
May .
658,604.35
2,183,987. 86
2,842,592.21
17,549.64
309,480. 56
326,030.20
557,602. 68
2,117,194.19
2,674,796.87
20,296.84
296,935. 33
317,232. 17
June .
541,965.68
6,025,925. 81
0,567,891.49
18,540.54
340,384.71
358,925.25
Total .
6,362,800.90
44,754,117.45 |
51, 110,918. 35
247,101.37
4,120,905.44
4,368,006.81
UNITED STATES MINT AT PHILADELPHIA.
This mint was in operation throughout the year, chiefly upon sub¬
sidiary and minor coins. The details of the deposits and ordinary
coinage operations are to be found in general tables elsewhere in this
report.
PROOF COINS AND MEDALS.
The following table shows the number of proof coins and medals
and their nominal value, manufactured during the fiscal year:
Articles.
Pieces.
Nominal
value.
Gold medals . . . . . . . . . . . .
127
$3,456.51
Silver medals . . . . - . . - . .
545
1,296.55
Bronze medals . . .
8,620
2,774.03
592
4,090.00
1,995
565.25
4,390
131.70
16,269
12,314.04
18
REPORT OF THE DIRECTOR OF THE MINT.
THE STATE OF THE NUMI8MATIC COLLECTION.
Preliminary to a brief statement on the condition of the numismatic
collection at the close of the fiscal year just ended it might be well
to make an observation upon the more important subject of the
interest now shown by the public in the objects embraced in the
collection. In this country there is an improved general as well as
scientific interest in that branch of archaeology known as numis¬
matics. It is not easy to describe in few words the manifestations
of an advance in the knowledge and appreciation of a large and
important field of information such as the study of the world’s
coinages has produced during the last seven centuries; yet one is
readily made aware of the fact that within the last decade Knowledge
of the historical significance and cultural value of coins has been widely
disseminated among our people, and decidedly marked is the im¬
proved taste for the medal, the artistic character of which is far more
widely insisted upon than heretofore. In view of the vast and schol¬
arly literature on the subject one is surprised at the scant attention
given to numismatics in this country until he learns that the whole
subject of archaeology is of rather recent cultivation in America.
Comparatively few of the larger universities of the country have yet
been able to provide themselves with professorships of archaeology,
and a department so special as numismatics could hardly be expected
to have secured large attention. Yet, as before stated, interest in
the subject is now increasing; in some of the universities occasional
couises of lectures on the Greek or Homan coinages are now offered
and, judging from the number of instances in which this department
has been called upon for advice and expert assistance, the number of
institutions whose small historical museums include a limited general
collection of ancient and modern coins must be rather laro-eb
is taken into consideration.
MACHINE SHOP.
Fifteen 2,000-ounce fine gold bar molds
Iron rack and truck for storeroom.
One surfacing machine for boiler headers
upkeep of the machinery and
done for this mint:
Un &Pcoi^e8’ C0UarS’ and tUbeS f°r automatic sighing machines for
OPERATIONS OF THE MINT SERVICE.
19
fyin& results obtained in speed and accuracy of weighing were such
that two more of these machines were completed during this fiscal
year, making a total of five in use at this mint.
The three coin presses sent here from the mint ar Aew Orleans,
La., were entirely dismantled and rebuilt. Individual motor drives
replace the old belt drives and automatic hopper feeds have been
added. A new method has been provided for aelivery of the finished
coin at the side of the press instead of underneath. These improve¬
ments have made the presses up to date in every respect.
One new outside packed Worthington boiler feed pump has been
installed to take the place of one Barr pump which had cracked and
was condemned.
Owing to the rush of work necessary to complete the two automatic
weighing machines, work on the minor coinage plant was somewhat
delayed. The two 16 by 16 inch rolling mills with motor drives have
been installed, and the heavy cables for current have been carried
from the main switchboard in engine room to the panel boards at the
mills. These mills are the heaviest ever used in minting operations
and will be capable of breaking down in a comparativelv few passes
an ingot 24 inches long, 41 inches wide, £ inch thick, and producing a
strip from which will be cut six bronze or five nickel planchets at
each stroke of the cutting press.
One new rotary annealing furnace has been purchased and placed
in position.
Considerable progress has been made on the heating and ventilating
system.
One 100-ton shear for topping the heavy ingots has been completed
and is ready for installation in melting room. Several different molds
have been made in order to determine which will prove the best in
pouring the large ingot.
Work is now in progress on the beds and punches for cutting presses,
and also on a 6-inch lever shear for cutting the strips.
During the same period the following work was done in the shops
for the mint at San F rancisco, Cal. :
Equipment for whitening room, consisting of two tumbling barrels, or washing
machines.
Two conical and two square copper colanders.
Three tanks and carriages for rotary annealing furnaces.
Six copper-lined trucks.
One copper and one lead-lined tub.
Two brass pots and two copper colanders for gold.
Six copper-lined clipping boxes.
One 6-foot balance with complete complement of weights.
One steel-covered table for use at scale.
Three sets of automatic coin press feeders for nickel.
Two sets of toggles for sectional collars.
Four sets of eagle sectional collars (48 stars).
During this year, by reason of the admission of two new States to
the Union, it was necessary to change the design on the edge of the
eagle from 46 to 48 stars, which made necessary the destruction and
replacing of all tools, collars, etc., bearing the 46 stars.
For the mint at Denver 58 coin collars were made.
For the Department of Agriculture, 10 silver disks.
For the United States assay office at New lork, repair parts for
various machines.
20
REPORT OF THE DIRECTOR OF THE MINT.
CARPENTER SHOP.
Besides the general repairs and upkeep of the machinery and appli¬
ances the following work was done by the chief carpenter and his
assistants during the year:
The roof on the Spring Garden Street front of the building was
repaired.
Tart of the old refinery was altered, repaired, and painted, so that
it could be used as a workshop by the electricians.
The iron grill work, front doors, railings, fences, tree boxes, etc.,
were cleaned and painted.
The new storeroom was equipped with shelving, bins, tables, sta¬
tionery cases, etc.
Two mahogany exhibition cases were made for the numismatic
room.
('ard-filing cases were made for the offices of the chief clerk, medal
clerk, and coiner.
Improvements were designed and added to the counting hoppers,
which greatly facilitates the bagging and handling of coin.
The counting boards were improved by a new method of inserting
and fastening the brass division strips that will allow the wood to
shrink or swell without splitting it or tearing out the brass strips.
Three of these boards have been made for the St. Louis subtreasury.
A newsafety device has been added to the coin-examining machines.
One steel-rail top table was made for the superintendent’s transfer
weigh room. .
One table was made for a new scale iii the assay department.
atterns were made for scales, automatic weighing machines,
machinery, etc.
coined here^*11^ k°ard was made f°r Costa Rican 5-centimo pieces
we?e1mad°eUSand hundred and ^ty-six silver-dollar storage boxes
^Ihundred hardwood-bottom coin boxes were manufactured,
ohipping boxes for San Salvador coins were made.
roomvrprpHe!^ devices for the exhibition cases in the numismatic
ckmn the eoviS1^’ /?ade’ and placed uPon the cases- These locks
proof as possible. ** 16 Cases’ so ^ to make the cases as near dust-
One portabie vise bench was made for the rolling room.
For the San Francisco Mint the following new equipment was made:
Two counting hoppers.
Eight counting boards.
Three copper-lined annealing tanks
One lead -lined acid tank.
One copper-lined cleaning tank.
One selecting table.
One steel-rail top bench for 6-foot scale,
gix copper-lined strip cars
Six copper-lined clipping boxes
One mahogany case for 6-foot scale.
For the St. Louis subtreasury there were manufactured:
Six counting boards.
OPERATIONS OF THE MINT SERVICE.
21
For the New York assay office the equipment of the refinery of
this mint was repaired and put in good order, many new articles made,
and the whole boxed and crated for shipment.
ASSAYING DEPARTMENT.
The operations of this department during the fiscal year 1912 were
as follows:
Samples operated on.
Item.
Gold.
Silver.
Gold and
silver.
Deposits .
2,814
667
Redeposits .
120
Anode melts . .
44
37
234
13
160
141
2,430
Fine melts .
Ingot melts .
Experimental melts .
Bullion assay samples .
188
181
30
37
32
38
Melter ’s assay samples .
Coiner's bars .
Assayer’s bars .
Superintendent 's grain bars .
Sweep samples .
Certincate bars .
12
Silver purchase bars .
1.73S
Total .
3,154
5, 136
626
The number of assays made was as follows :
Deposits and purchases .
Ingots (gold and silver) .
Special assays .
Miscellaneous assays, bronze and nickel
Oil assays .
51,310
9,820
3, 173
098
35
Total
05,036
The average cost per assay during the year was SO. 357.
In addition to the above, 488 ounces of proof gold and 340 ounces of
proof silver were made.
Of the 234 melts of gold ingots made by the melter and refiner, 42
were returned for remelting. Of the 2,430 melts of silver ingots, 16
were returned for remelting and 8 were condemned.
The fineness of gold melts passed was:
3 melts at .
9 melts at .
57 melts at .
63 melts at .
44 melts at .
16 melts at .
192
900.2
900. 1
900.0
899.9
899. 8
899.7
The fineness of silver melts passed was:
42 melts at . 900
92 melts at . 899*
220 melts at . 899*
233 melts at . 899*
G2o melts at . 899
423 melts at . 898 j
555 melts at . 898*
139 melts at . 898*
76 melts at . 898
2,406
About 70,000 cupels were made.
MELTING AND REFINING DEPARTMENT.
Upon the settlement of the melter anil refiner’s accounts June 29,
1912, there was found an apparent gain upon the gold bullion of
710.259 standard ounces, and in the operations upon silver bullion
an apparent gain of 4,437.32 standard ounces.
22
REPORT OF THE DIRECTOR OF THE MINT.
The melts made aggregate as follows:
Melts.
Bars.
Ingots.
Anodes.
Deposits.
Specials.
Re¬
melted.
Con¬
demned.
Gold .
64
234
47
4,C75
368
47
42
Silver .
262
2,431
160
17
7
Total .
326
2,665
207
5,043
47
59
7
The large number of remelts in gold was due to the lack of high
refinement in gold shipped to us for coinage. It was not the product
of Government electrolytic refineries, and assayed from 993.8 to 998.8.
This department, likewise the coiner’s department, secures much
better results when using highest-grade electrolytically refined gold
bars for coinage.
During the year, 260 barrels of sweeps were recovered, containing
by assay 715.766 standard ounces of gold and 2,545.49 standard
ounces of silver. Of this lot, 111 barrels were recovered from sweeps
sent by the United States assay office at New York, which contained
362.999 standard ounces of gold and 368.56 standard ounces of silver.
This department yielded 129 barrels of sweeps, containing 273.534
standard ounces of gold and 1,927.10 standard ounces of silver, the
balance representing superintendent’s and coiner’s material. Besides
this, grains and pellets from minor coin melting operations to the
extent of 23,667.67 ounces were recovered by treating in sweep mill.
1 his latter work was carried on without conflicting with regular sweep
operations.
A umber, weight, and value of gold and silver bars for industrial use, including gold-
cert if cate bars and fine silver bars transferred to New York assay office.
Metal.
Bars.
Standard
ounces.
Coinage value.
Gold .
e AAA
non
Silver .
O , OOO
4 4 41
ooo,0<0. / <3
$12,764,107. 49
1,104,643. 48
13, 80S. 750. 97
Total .
4 . 441
10,107
8S*,85t.20
1,573,927. 973
Die opei at ions of the refinery were as follows :
Bullion.
Gold.
Silver.
•2,6'3,° Bross ounccs containing by assay .
Standard ozs.
240,636. 6S4
241,093. 795
Standard ozs.
Bullion received from refinery.. .
Sweeps . . . .
0^,001.
622,859. 21
Apparent gain .
170. 458
1,067. 54
627. 569
1.425.28
1 lie surplus of gold and silver as shown by our refinery account is
ecmSm^nt^ l ue t;> the lur"e returns from dismantling the refinery
foiyo^ and burnmg aPParatus that would otherwise have served
OPERATIONS OF THE MINT SERVICE,
23
Silver bullion sent to the refinery upon which refining charges were
collected contained by assay 242,041.91 standard ounces, and silver
owned by the Government returned to the refinery for parting pur¬
poses upon which no parting charges were collected contained by
assay 381,884.84 standard ounces.
Receipts and deliveries by the melter and refiner.
Items.
Gold account.
Silver account.
Minor coinage metal account.
Nickel.
Bronze.
Receipts:
Settlement metal of June 30, 1911...
Deposits and purchases .
Stand, ozs.
096,917. 492
105,862. 882
56,078 883
610, 163. 868
343. 556
129,462.005
459,835.098
Stand, ozs.
1,111,855.68
315,722. 66
27,372. 42
4,023,688. 90
1,526.52
543,455.90
1,308,270. 36
2,668,815.85
410,710. 29
1,435.83
75,502.40
41.71
12.58
48.25
Troy ozs.
447,851.25
Troy ozs.
193, 435. 01
Redeposits .
Clipping .
Medal clips .
Uncurrent coin .
Transfers from New York .
Treasury purchases .
Purchases for San Salvador coinage.
Purchases for medals . 7. .
Chips .
17,085.150
616. 979
Coiners' bars .
For Agricultural Dejiartment .
For medals . T .
Ingot copper .
13.125,000.00
Silicon copper .
7, 798. 44
Tin .
278,009. 37
335,737.50
3,626,284.80
223,824. 76
Zinc .
Clippings .
4, 457,282. 15
333,030.23
1,459,339. 58
Uncurrent coin .
Nickel cubes .
Total .
2.076,365.913
10.488,459. 35
6,705,301.65
17,782,291.44
6,705,301.65
Total minor coinage metal .
24.487,593.09
Deliveries:
Gold-certificate bars.. .
330.788.530
335, S90. 103
157,287.616
95,465. 370
1,151,248.650
623. 166
16. 702
682. 778
273. 534
4, 799. 723
Merchant bars. .
856,877.01
48. 25
348, 125. 06
9.273,405.50
654. 67
97.65
3,148. 39
1,927.10
8,613.04
Fine bars . .
Unparted bars
Ingots . .
9,561,286. 20
10,853,151.50
Assay ers' proof
Strips and disks
Medal ingots
Sweeps .
Misoel leneoiis
Copper .
2,854,614.58
Silwon Conner
3,366.00
Tin .
285,177.08
155,720.83
407. 60
Zinc.... .
Clinnines . . .
1,409. 70
697,433.33
1,161.00
Croine frr»m Qweei S
280. 50
4.057.50
Residue .
1,352.00
Total .
2,077,076.172
10,492,896. 67
10,267,833.23
14,151,584.59
10,267,833.23
24,419,417.82
Surplus . . .
710. 259
4,437.32
68,175.27
Refinery .
240,636. 684
1,428,638.609
622,501 47
9,544,954. 87
9,699,591.10
10,921,993.06
Ingot room .
Total t .
1,069,275.293
10,167,456.34
9,699,591.10
10,921.993.06
9,699.591.10
20,621,584. 16
24
REPORT OF THE DIRECTOR OF THE MINT.
This department lias had before it for consideration an improved
method for melting and handling the minor coin metals, so as to turn
out an ingot weighing about 25 pounds. Our present system of
pouring two 4-pound ingots into a double mold and then throwing
this Idled mold down to the next in line to open and extract the
ingots is crude, though it might pass muster for the deliberate and
exacting work of gold and silver ingot making. However, for quickdv
and effectively handling large volumes of minor coin metal^a less
labonous and more mechanical method impresses the careful oh
server as much to be desired. ob"
This department during the past year has with comparativelv
sp^al woET Thf £U* tw0 diff«re“‘ types of oil furaacL on our
iKS i I /r T furnaces were shipped to us and after trial re
portion of zi^of ud„’duiythraedu?eed,DgOn ST ?“
however, it was imnosdhli ' i • j • be cupro-nickel melts,
metals preventing a uniform lv cget .lnSots- the oxides of the
nace we p<m^dS^^h^di5a'^- TOle with this fur-
was not perfect, which resulted in^ ur th? mechanism for tilting
was desired to exactly fill thcmolds. P* mg by overfloAving, when it
type, using No. 125Ccrudble°U Thi^fnm 0ll'burning tilting crucible
features and much better aeenr 1S ^rnac.® possesses some excellent
was secured by its use The " ^ ? V t,n- and Pouring direct
testing it out, was due’ to exeS^f1 troV however, as found by
ooPstruetion not permitting non i f C °Xl< atlon on account of the
The problem lie us n^wTcm, nS?ri°n the crucibIe'
unless it be an electric crucible fi,™ * \° 80 much a furnace one
mechanical methods of getting mnlfaCe as,on.e dealing with good
nonlaboiaous way extracting tlie in w fnrmetai *nto molds and in a
This department sees the^ncoH u^S from the molds,
metal from the crucible if tEis is ^•inSi° iClU^^ getting the molten
om the furnace, and tilted ovm- t^P e< oy heavy tongs, removed
involves great risk to workmen I i i 6 molds- This, while rapid,
pnmnnly by crushing with Sthife18 ‘!le Iife of the crucftle,
thinpagam r7 objecting it to coolWd l°n and more or less soft and
better method than thi« Sdii lfts 0utside of furnace. We
hmirs tianot ler P^an that will o-et out ve ev°}ved and are about to
practice.111 We "* doing, ?nd Zs iffiS
As \\rn - - _ . ^
more metal in eight
Ac -noi/ than is our present
^vjs we now see it o 1 • *
typefth?tXineIting sche“e< ! thoS°iw!.ehUmace would b« our most
out undue oxidation GS ot high-grade nonferrous metals
OPERATIONS OF THE MINT SERVICE.
25
There is little difficulty in getting proper temperature in most any
iis high temperature
utmost importance;
modern oil furnace, but the proper control of t
so as to melt with a minimum or oxidation is ol
after this, getting the metal out quickly and with a minimum of
labor into good bars should follow.
The assistant melter and refiner has invented a new form of mold,
which need not be lifted in order to remove the ingot. It promises
to be a very useful and labor-saving device which can be used with
anv furnace. A number of these molds are being prepared and a
new experimental furnace is expected here in the near future. Our
experiments have demonstrated that the tilting type of furnace, as
now made, is unsuitable for our service, though possessing some
attractive mechanical features. A further development along melt¬
ing lines is necessary if good solid metal is to result.
COINING DEPARTMENT.
Durin" the fiscal year 1912 this department received from the
superintendent 1,193,100.92 standard ounces of gold for coin which
was operated upon and from which there was produced 343,338.587
standard ounces of coin of the value of $6,369,090, and delivered to
the superintendent during the fiscal year prior to settlement. There
was also delivered to the superintendent prior to settlement 627,-
839.958 standard ounces of gold in clippings, bars
and sweeps, and there were delivered in settlement 222,939.05 stand-
ard ounces in finished coin and blanks. The entire operation showed
a <rain or surplus of 16.796 standard ounces of the va ue of $3 1-48.
A "'recovery of former wastage from the pipes and wells contributed
thThSeUpeiUcSentage of coin produced to the amount of metal operated
U1 This' low percentage11 was due to a low-grade gold which hadnot
tendent at settlement cons . j received from the super-
• ?Urg, fSJSS fSmtdTnces of silver for coinage of wU
mtendent 9,189,o5-i.oo Sl‘uu"u onerated upon, from which there
9,156,325.45 33 standari ounces of coin of the value of
were produced 3,903,1 52 -d* s 410,710.29 standard
$4,856,565,25 m .^^i^Govemment of San Salvador, from which
ounces of silver coin fo United States subsidiary value,
ancf'rlelfvered^^'the superintendent during the fiscal year prior to
S6ThereIwere also delivered to^the^superintendent^dm'ing the^ fecal
year prior to settlement 4, • ’ ana there were delivered at
pings, condemned com, and s I f infrots, unfinished half
settlement 775,629.05 Btandard ounces o ^ ^ Upon
dollars, quarter dollars, dimes, ana
26
eeport of the director of the mint.
the entire operation there was a wastage of 693.27 standard ounces
of the value of $372.78, being 7.57 per cent of the legal allowance.
The percentage of coin produced to the amount operated upon was
54.80 per cent. This includes the coined half and quarter dollars
(awaiting weighing), dimes, and finished Costa Rica coin delivered
in settlement.
There were also delivered to the coiner during the same period
9,944,707.25 standard ounces of nickel ingots and blanks, from which
there were produced from the metal operated upon 3,727,986.76 stand¬
ard ounces of 5-cent pieces of the face value $1,159,3SS.20, upon which
there was a wastage of 6,472.19 standard ounces of the value of $75.74,
being 79 per cent of the legal allowance as allowed on silver. There
were also delivered to the superintendent during the fiscal year prior
to settlement 4,457,208.80 standard ounces in clippings, condemned
blanks, condemned coin and chips, and there were tielivered at settle¬
ment 1,753,039.50 standard ounces of ingots. The percentage of
coin produced to the amount of metal operated upon was 45.51 per
cent. This low percentage is owing to tne large percentage of con¬
demned blanks.
There ^ were also delivered to the coiner during the same period
13,832,172.33 standard ounces of copper-bronze ingots and blanks,
from which there were produced from the metal operated upon
standard ounces of 1-cent com of the face value of
$609,981.95, upon which there was a wastage of 2,920.93 standard
ounces of the value of $34. IS, being 29.98 per cent of the legal allow¬
ance as allowed on silver.
There were also delivered to the superintendent during the year,
prior o settlement, 3,626,284.80 standard ounces in clippings, con-
41^ blanks, and there were delivered in settlement
js_.30 standard ounces of ingots.
uponVas^1?^0 co^n*Pro<^uce(l to toe amount of metal operated
cob k ml\T*<Ldlr0m the ab?TC that the wastage on minor
new b? “ P?vl?us S'?"8; This saving 5 due to the
acid cleaning Rv ^PP^^ing the old and expensive method of
save in tKk.ilI the elimination of the acid process we not only
machinery. ' * ’ Ut m cost material and wear and tear of
682 .7 78^ standard ounces^of !ifce*ve^1 ^or coinage the coiner received
standard ounces were used^n ^ f°r me,da^ from which 176.623
amount and 343.556 stand mvl ° n)anu(acture of medals. This
the superintendent prior to settlem^/11 Ci1?5ulSs were delivered to
dehvered in settlement. ueut aud standard ounces
4 lie coiner also reeeivetl fmm
period 3,148.39 standard ounces of ^ during the same
1,404.61 ounces were used in fL * fme /llver. From this amount
amount with 1,531.53 ounces in rlliWanufaCtUre of medaJls> and this
mtendent prior to settlement and ^1 7 40* JVer? delivered to the super-
delivered in settlement. The slmfif 0 standard ounces in fme silver
m the gain and loss in the coin)!™ V1 "°!d and sdver is included
The gold, silver am) t ■ "old and silver.
to $12, 995, 025.40 in United StTt^^ C°mag1e for the Jear amounted
d btates com> and $510,992.58 in United
OPERATIONS OF THE MINT SERVICE.
27
States subsidiary value of eoins made for the Government of San
Salvador, making a total of 14,498,172.26 standard ounces of metal
consumed in the entire operation. Net wastage on this amount of
metal was $170.22.
IMPROVEMENTS.
Improvements in the way of an independent minor-coin plant are
well under way. The basement under the northwest terrace corner
of the building has been fitted up for that purpose. The object of this
separate plant is to keep the workings of the base metal isolated as
much as possible from those of the precious metals. Considerable
suitable machinery has already been installed. Two large 16-inch
rolling mills, driven by 175-horsepower electric motors, have been
E laced in position. These mills will be used for rolling and finishing
ronze and nickel ingots 24 inches long, 4t inches wide, and f inch
thick. Two cutting presses capable of cutting six blanks or planchets,
two automatic rotaiy gas furnaces for annealing blanks, and one strip
annealing gas furnace for annealing large ingots. Two centrifugal
drying machines and sufficient tumbling barrels to do the work are
being added. The plant will be in operation before the end of the year.
Two automatic weighing machines have been added to the three
now in use in the automatic scale room, making five in all. In weigh¬
ing blanks or coin these five machines will weigh over 200,000 pieces
Ser day. Three coining presses and one 9-inch rolling mill from the
[ew Orleans Mint have been rebuilt and added to our present equip¬
ment.
An improvement has been made on the coming presses. Instead
of delivering the coin after it is struck through a leather boot to a box
or receptacle directly under the press it is delivered through a pipe to
a screened box fastened on the side of press. The advantage over the
old way is the monev can be easily handled and is always in full view
of those in charge of the presses.
Receipts and deliveries by the coiner .
Items.
Gold account.
Silver account.
Nickel account .
Bronze account.
Receipts:
Settlement metal of June 30, 1911...
Ingots .
Stand, ozs.
12,902.870
1,180,198.050
682.778
Stand, ozs.
181, 428. 55
9,008, 105.10
3,148.39
Troy ozs.
367,318. 88
9,460,721.70
Troy ozs.
2,239,060.40
11,009, 778.60
116,666.67
583,333.33
Total .
1,193,783.698
9, 192, 6S2. 04
9,944,707. 25
13,832,172.33
Deliveries:
Coin, domestic . * .
342,338.587
3,903,152.33
410,710.29
4,099,343.56
2,936. 14
775,629.05
217.40
3,727,986. 76
6,113,984.30
Clippings, condemned and sweeps..
Medals and dippings .
627,839.958
520. 179
222,939.050
102.720
4, 457,208.80
3,626,284.80
1,753,039.50
4,088,982. 30
Total .
1, 193, S00. 494
16.796
9,191,988. 77
9,938,235.06
13,829,251.40
693. 27
6,472. 19
2,920.93
Percentage of coin produced to amount
1,193,783.698
28.69
9,159,473.84
47.10
8,191,667. 75
45.51
9,743,190.03
62. 75
28
REPORT OF THE DIRECTOR OF THE MINT.
ENGRAVING DEPARTMENT.
All the dies used in coining operations in all of the mints are made
in the engraving department at Philadelphia. The embossed-enve¬
lope dies used by contractors supply mg envelopes for the Post Office
Department and Postal Savings Bank are also made here; also dies
for Army and Navy and other authorized public medals. The mint
is reimbursed for the actual expenditures for labor and materials on
these medal accounts.
The number of dies prepared for United States coinage last year was
2,110. In addition, 265 dies were made for Philippine coinage, 78
for Costa Rica, 4 for San Salvador, 158 for Post Office Depart¬
ment, 11 for medals, and 30 master dies and hubs; in all, 2,056, as
follows: ’
Denomination.
Philadel-j
phia.
San Fran
cisco.
l" Denver.
Total.
Gold:
Double eagle .
10
10
35
35
10
30
35
35
Eagle .
20
Half eagle .
V miner eagle. . .
Total .
90
20
110
Silver:
Half dollar .
80
158
315
70
55
SO
44
24
246
194
237
641
Quarter dollar . .
Dime . .
Total .
553
205
314
1,072
Minor:
5-cent .
295
217
1.58
78
453
347
1-cent . . . .
52
1 UllU.. . . . . . . .
512
52
236
800
Philippine:
Peso .
'XI ecu t fivns ............... .
20
70
40
90
20
70
40
90
10 centavos .
.
Total...
220
220
Costa Rica:
lOcentiinos . .
/Hint i nine ••••••»»«..,
3S
40 .
38
40
O CcillUilUo . . . . .
Total .
San Salvador:
Peso .
78 .
4 .
78
4
Grand total coinage dies .
Proof dies . .
United States postal-savings die and hub .
.
.
.
31
Total .
-- 2,056
NUMBER OF EMPLOYEES.
The total number of employees in this mint at the close of *h*
SulTr "S 333> dlS“lbuted “ lh0 departments
General .
Assayers .
Melter and refiners
Coiners .
Engravers .
Total .
OPERATIONS OF THE MINT SERVICE.
29
175
13
46
91
8
333
VISITORS.
A large number of visitors from all States of the Union and from
foreign countries visited the mint during the year, 84,763 having
been shown through the buUdmg by the several guides. °
MINT OF THE UNITED STATES AT SAN FRANCISCO.
This mint was in operation throughout the year. The details as to
<c(P<])sd ® coinage operations are given in tables elsewhere
The appended extracts from the report of the superintendent of
the mint are submitted:
t!ntil the year 1897, this mint was operated with an equipment unchanged in
any respect from the date of its first installation, more than 40 years before. However
that was a condition existing in all United States mints. With the advent of the
McKinley administration came a Director of the Mint who saw there was need of
remodeling the methods of mint operations by the introduction of improved machin-
ery, the use of electric drives instead of steam power, the adoption of gas and oil as a
substitute for coal and coke in melting furnace work and the adoption of the electro-
lytic method of refining in place of the old acid system, all of which was conducive
to better or higher class of work, and with neatness and economy and greater comfort
to the employees.
With the mint at Philadelphia the changes were brought about in comparatively
snort tune as a new building was erected and the new machinery installed while the
old mint was operated without interference until the new quarters were ready for
occupancy, blit with this institution the conditions were quite different. The
^^aorniaary demand for coinage from it began with the Alaska gold discovery in
lo97, a demand that exceeded any requirement way beyond anything in its history
or. even expected of it, and this was augumented by the necessity of making the
mm*agn the Philippines here. Under this call upon its resources, it operated to
tue lull capacity of its machinery and the excellent force of men employed without
cessation or lull for nearly 13 years, making a record for quantity, quality, and cost
nat was a source of pride to all concerned. Yet it was during this period that the
c langes above alluded to were made. Prior to the alterations, the power plant
consisted of one 150-horsepower walking beam steam engine, one 30-horsepower
orliss steam engine and four other smaller steam engines — six in all, steam being
_upplie<4 by a battery of four Scotch boilers of the marine type. The rolling nulls
wore all driven from one main shaft 8 inches in diameter and 60 feet long, me
coming presses were all operated from one shaft line. Thus, if only one press wa a
Tnedei be nm> lhe least power that could be used was ^ieA30’horeePoy^aer^f^*
f he efficiency of the 150-horsepower engine was only about 50 per cent of its ratin*,
onsequently the great waste in the power plant was obvious,
or! n °ld'faahioned coal and coke melting furnaces were changed one by oneto ^s
?r ^burning, so that the melting was done by gas flame m some “stonc^and
i - others. Electric motors one by one were placed in position a 1
nerent machines and by degrees took the place of steam power. f }
lair wiling mills, punching machines, annealing and cleamng
r)p f8t Pa,ttern were installed. In fact, an entire change in the | use(] ih the
fleeted, with the exception. I may say, of the presses J^JCbe^deSaed,
but eC ,^ta.te8 mints are equal, if not superior, to am pr . t jiave greatly
add hT lhe Passes have been equipped with additional devices that
S *$&**?»* « entire,,- remove., end in -- •£££
unl,,ec r° ytic re finery which for neatness, capacity, \ew y0rk assay
See lt 8ha11 be by the new refinery that is being installed in the
76347°— la _
■3
30
REPORT OF THE DIRECTOR OF THE MINT.
The old methods of adjusting were dispensed with and hand scales replaced by the
modem weighing machines.
It is something of interest to know that all of these changes made, w’hereby the
institution was brought up to the highest standard of a modern plant, were accom¬
plished, as I said before, while it was being operated to its fullest capacity on coinage,
without the loss of one single day in operation. To accomplish tins has taken much
time, but the work has been completed, and the San Francisco Mint is equal to any
other institution in the matter of modern machinery and efficiency. It may well be
said here that our Government has not relied or depended on other Governments for
ideas in modernizing or remodeling its coinage machinery, for almost in every instance
the new machines are the invention of, or have been constructed on ideas offered by,
officers engaged in the mint sendee. This mint has contributed its share in the
general improvement of machinery. It was here that the rolling mill now in use
was made and brought up to its high grade of efficiency. Perfect work in the rolling
mill simplifies all other operations. The officers of this institution spent much time
and study and experimenting in perfecting the rolling mills, and when success finally
crowned their efforts the introduction of the automatic cutting and weighing was a
simple matter.
Accompanying this review I beg to call your attention to the statement of Asst.
Coiner P. A. Kearney on matters connected with rolling mill work.
I also desire to refer to the statement herewith made by Mr. E. R. Leach, super¬
intendent of the melting and refining department, relating to the adoption of a simple
method for recoveries of volatilized metals in the melting department, also to the
discovery of a refining-furnace product by Mr. E. J. Wagor, superintendent of the
refinery , a matter of considerable scientific interest as something new and possibly
unheard-of before, and also direct attention to the very interesting report by Mr.
M. A. Martin, assayer of this mint, bearing on matters relating to the accuracy of assay
W£-uan(^ Pai*bcularly to the method devised by him of assaying fine silver, a method
which seems to reach more reliable and accurate results in the determination of the
silver contents of certain classes of bullion.
The assayer of the mint reports, in part, as follows:
During the fiscal year several interesting experiments were inaugurated in the hope
,lT1gf efficiency of the assay department, the most important of these coming
^,n nf ^l °rngf e -ni ^relation between the surcharge and the denomina-
Sv if fi T>he T^tlr oi the Gay-L»ssae method for the humid
Son ” ThTrf, nar8’f Hand . The determination of silver in mass melts of gold
bullion. The results of these investigations appear below.
the relation between the surcharge and the denomination of a gold proof.
sissaisffisjsr,?' qrtion n S,Suo„q. Ss
inconvenient'" if*imt^actuallv out'o/nf ')GeU e° con§est€<l as to render it extremely
deposits of widely varying finenesses wUll^iTfdi v?,i n ?i accol?pany the assays of certain
In the effort to obviate this dffficultv a T*8 °f 8PemJ denominations
with the idea of ascertaining the defin’itt 08 ?f exPerl,ments was conducted
tive surcharges ofgold p^fs rmLloW™' ^latlon.’ lf 8Uch existed, between the respec-
parted under identical conditions. 1 1 Varying amounte of gold, but cupeled and
cupels 'each, with do'grains' oMead8 K ’ ea*c1^ 861 being run in two rows of four
to 1 of gold. Each setwas subi^d tng°t£ To8*1-1 ° CW’ an<1 2 Parts of «Uver
To avoid drawing anv erroneous * 1?‘nunute Partlngs in 32° nitric acid,
in the furnace, thegodd-number sets were niTmtiWW' l P08Slbly due to position
of cupels and the lower ones in the row hehfnT 'V^6 b^Jlfr proofs m the front row
sets tie low proofs were pheed £ front 3 m thefcase of the alternating
containing duplicate proofs of fo ^ hlgher pr<Jofe ln the rear- 0ne set
of four weeks. P The resuli were as fotiows^ 1111011811 ^ for a Period
OPERATIONS OF THE MINT SERVICE.
31
Set.
m
Denominations.
1,000
900
800
700
600
500
400
1 .
fl, 000.3
900.1
799.9
699.9
\1,000. 3
900.1
800.0
699.8
2 .
J 1 , 000. 55
900.45
800.2
700.1
\1, 000.6
900.35
800. 15
700.1
3 .
/l, 000.6
900.3
800.2
700.0
\1. 000.6
900.4
800.3
700.1
4 .
J 1 , 000. 6
900.45
800.4
700.2
\1,000. 65
900.5
800.3
700.2
5 .
(1,000.7
900 4
800.2
700.1
\1,000. 6
900.35
800.25
700.1
700.1
599.9
499. 7
399 55
700.05
599.8
4QQ
0*7*7* OO
QOO A C
7 .
/l, 000. 25
900. 15
799.95
699.85
iw. to
00*7* ?0
\1,000.3
900.05
800.0
699.9
8 .
Jl, 000.7
900.55
800.5
700.4
\1, 000.8
900.6
800.45
700.35
9 .
fl, 000.6
900.45
800.35
700.25
\1,000. 65
900.45
800.4
700.25
10 .
11,000.55
900.35
800.25
700. 15
.
\1, 000. 6
900.35
800.25
700.1
11 .
11,000.55
900.35
800.2
700.1
11,000.5
900.4
800.25
700. 15
12 .
/ .
900.4
800.2
700.1
599.95
1 .
900.35
800. 15
700.1
599. 95
13* .
900.1
800.0
699.9
599.85
900.05
799.95
700.0
599. 75
14 .
.
900.3
800.2
700.05
599.9
1 .
900.3
800.2
700.05
599.95
900.55
800.4
700.3
600.1
900.5
800.35
700.25
600. 1
( .
900.35
S00.2
700.05
599.95
900.25
800.2
700.1
599.9
17
.
700.25
600.05
499.9
399.7
700.2
600. 1
499. 9
18
700. 05
599.9
499! 85
03». O
399.7
OQQ 7
700.05
599.95
499. 8
19
700.2
600.0
499' 9
OW. 1
399. 75
700.2
600. 1
499.9
399.8
900.6
800.5
700.3
600.1
900.6
800.4
700. 25
600. 1
.
900.1
800.0
700.0
599.8 .
900.1
800.0
699.9
599.8
22
..
900.4
800.25
700.1
600.0 .
L .
900.4
800.25
700.1
000.0
23
.
900.5
800.4
700.3
600.1 .
i .
900.5
800.35
700.2
600.05
24
.
900.35
800.3
700. 15
600.0 .
L .
900.4
800.2
700.1
600.0 .
The average cornet weights of the different denominations were as follows:
1,000
900
800
700
600
500
400
1,000.56
900.35
800.22
700.11
599.96
499.82
399.68
A study of the above figures shows conclusively that under identical conditions, and
between certain limits, the surcharge of a gold proof increases in direct proportion to the
amount of gold added, this increase in the case of proofs running from 400 to 900 fine
averaging slightly over one-tenth of a thousandth for each extra hundred points of
gold added. It is also demonstrated that the same cupelling temperature which gives
a surcharge of three-tenths of a thousandth upon a 900 proof will inevitably give us
“minus” proofs in the cases of all denominations under 600.
The practical application of the inference to be drawn from these conclusions is very
apparent. Whenever, for instance, it is inconvenient to run a proof of special denom¬
ination with one or more assays of bullion between 400 and 700 fine, it is possible to
correct the weights of the assay cornets by means of an arbitrary surcharge based upon
the surcharge of the regular proofs which have accompanied the sets. By this means
it is possible to save considerable time without materially endangering the accuracy
of the assayer’s figures. The method is, of course, not applicable to low-grade bullion
relatively nigh in base, special proofs being required for such deposits.
32
REPORT OF THE DIRECTOR OF THE MINT.
The following tabic gives the assay results upon several bullion samples accompanied
by 900 proofs, but corrected by means of arbitrary surcharges. The results subse¬
quently obtained in assaying these samples separately ure included for purposes of
comparison:
Assays with 900 proofs.
Special assays.
No.
Cornet.
Proof.
Arbi¬
trary
proof.
Reported.
Cornets.
Proof.
Net.
6601 .
713.2
713.1
900.3
900.2
700.1
700.0
713.0
713.4
713.3
700.2
713.2
713.1
709.9
709.7
674.4
674.3
512.6
512.5
558.5
558.3
387.4
387.4
602.7
602.7
503.9
503.7
460.8
460.9
616.5
616.4
6614 .
710.1
710.1
900.5
900.4
700.3
700.2
7091
710.1
709.9
700.2
6621 .
674.6
674.6
900.5
900.5
700.3
700.3
674*
674.5
674.4
700.1
6665 .
512.9
512.7
900.7
900.6
500.3
500.2
512.5
512.6
512.5
500.0
6679 .
558.9
558.6
900.8
900.5
600.5
600.2
558i
558.7
558.5
600.2
6725 .
387.5
387.4
900.5
900.5
400.0
400.0
387*
387.3
387.3
399.9
6744 .
602.8
602.9
900.5
900.7
600.2
600.4
602.5
603.1
603.1
600.4
6760 .
504.0
503.9
900.5
900.5
500.1
500.1
503$
504.1
503.9
500.2
6918 .
461.3
460.8
900.7
900.4
500.3
500.0
460$
460.9
461.0
500.1
6965 .
616.7
616.7
900.8
900.6
600.5
600.3
616*
616.7
616.6
600.2
MODIFICATION OF THE GAY-LUSSAC METHOD OF ASSAYING FINE SILVER BARS.
Differences having arisen during the latter part of 1911 between this mint and an
outside refinery, regarding the fineness of certain silver bars purchased by us for coin-
age purposes, it was considered advisable to adopt some system of humid assaying
which would enable the assayer to determine the silver contents of such bars to a closer
degree of accuracy than was practicable under the straight Gay-Lussac method
. With this idea in view a modified method was utilized, said modification consisting
in the use of ammonium sulphocyanate instead of the usual decinormal salt to deter¬
mine the amount of silver unprecipitated by the standard salt solution This nrocess
while occupying more tune than that consumed by the old method, gave results which
not only agreed closely but which enabled us to determine the finenesses of the bars
in question to the tenth of a thousandth. The assays follow : ot tne bars
No.
Silver fineness.
No.
Silver fineness.
A.
B.
A.
B.
556 .
998.9
998.9
559
998.9
998.9
999.0
99S.S
557 .
998.9
998.9
560
99S.9
99S.8
998.9
998.9
999.1
999.2
558 .
998.9
998.8
561
999.1
999.2
998.9
998. 8
999.1
999.1
999.1
999.1
ui puiu at i.ozu milligrams, dissolve in an ounce of T>° 7 . P • °
bottles on sand bath until the fumes of nitric acid nitric acid (retaining
of standard salt solution and agitate for fiw miSuSs in ”ed)* and 100 c' c'
solutions are then decanted into fresh bottles fh.S h° USUal manner- The clear
that no appreciable amount of the chloridepaies Pattefn), care being taken
tations have been performed with the proper ^re it will If th? decan’
paratively mmute amount of silver solution rci dnlJ • .£ f? ,to ^nore the com-
However, we usually wash in a little «Ustilled watcrd anVS® chl?ndc precipitates,
the wash water to the balance of the solution ^ ’ d decanting as before, add
indicator, and eadlTmtle h?' timii^pl^/mSer ^ h SU!Phate ar? now added as an
ammonium sulphocyanate, 1 c c oF which m i bll.re.tte containing a solution of
The sulphocyanate Is run 'in a few ISa 1 millifjam of silver.
drops at a time, the bottle being rotated in the
OPERATIONS OF THE MINT SERVICE.
33
hand aftpr each addition, until tho precipitated silver commences to Bottle to Ihe
bottom. Tho reagent, ih now added drop by drop until the appearance of a faint
brownish red color that will not disappear on aha king.
This point having been reached, a reading iH taken of the burette and the amount
of silver precipitated by the standard salt solution determined by differences. For
instance, it it was necessary to add 18.11 c. c. of the Hulphocyanato solution in order
to reach the end point, the standard salt is credited with having precipitated 1,020
milligrams minus 18.5) milligrams or 1,001.1 milligrams of silver.
Tho strength of tha standard solution having been determined, samples of (lie bars
to be assayed are weighed up at 1,020 milligrams each and treated as described for
the proofs. The calculat ion of tho actual fineness of a sample is very simple. Taking
the direct reading of the burette as representing so many milligrams of silver pre¬
cipitated by tlu> sulphocyanato. the amount thus determined is added to ihe number
of milligrams precipitated by tho standard salt, and the sum divided by the weight
taken for assay. Thus, if it. has required 18.1 c. c. of sulphocyanato to arrive at the
end point in a certain assay, we have: ' miiUm-mm
Precipitated by standard salt (as shown by proofs) . ; . 1,001. 1
Precipitated by sulphocyanato (as shown by buret to) . . . is. 1
Total . 1,019.2
1,019.2 divided by 1,020 equals 0.9992.
The sample, therefore, is 999.2 fine in silver.
In making up tho sulphocyanato solution about S grams of the salt are dissolved
in a liter of water. After determining the strength of this stock solution by means
of pure silver proofs weighed at 200 milligrams each, a portion is diluted and tested
until l e. c. will precipitate exactly 1 milligram of silver.
To secure correct results it appears essential to add a uniform amount of acid upon
each occasion, to boil off all traces of nitric oxide fumes, to decant the solutions with
close' uniformity of detail and to perform this operation as soon as possible after the
addition of the standard salt, to use a uniform quantity of the indicator and to conduct
the titrations at approximately the same temperature.
It is especially necessary to use care in decanting. No harm would nrobablv bo
done if quite an appreciable amount of silver nitrate was retained in the chloride,
provided that the same amount had been retained in the ease of the proofs, for the
amount of silver thus neglected would be credited to the standard salt solution and
an error thereby avoided. The moment, however, that the. decanting operations
cease to be uniformly executed, tho value of the method is vitiated and the results
become unreliable. . . . ,
It may be suggested by some assayer that the solutions should be filtered instead
of decanted. We have clone this upon several occasions, but do not find that the
resulting slight increase in accuracy is of sufficient importance to warrant the con¬
sumption of extra time involved.
THE DETERMINATION OF SILVER IN MASS MELTS OF GOLD BULLION.
Early in tho fiscal year wo experimented with a different method, tho results of
which have been so satisfactory aa to justify its permanent adoption. The details of
the process ore as follows: . .
A seorifior about l wo- thirds full of 08 per cent potassium cyanide ih placed in he
front of the muffle furnace, cart' being taken that the contents are kept below the
boiling point . Tho assay is weighed up at 1,000 gold weight, wrapped in a small
sheet of lead foil weighing about l gram and immersed in the molten cyanide. A
piece of stick cadmium weighing approximately 5 grams is
(,v a slight rotation of the wordier is brought into contact with the bullion sample.
The metals unite rapidly, a. complete alloy usually being formed m two or three
,U Thocimten (a of the scorifier ar.> then poured into a round bottom mold, allowed to
cool for a few moments, and the cadmium button separated from the cyanide which
may be used a second and a third time before being discarded. I he button l is cleansed
with hot water placed in an ordinary humid assay bottle, and bulb'd in 2 ounces
of 82° nitr a id When the brownish rod tunics have entirely disappeared the
. ■ a . I ; i,vi ,> ,,f distilled water and ,r> e. o. of a saturated solution
sol ution is diluted with M» ' c ^ of .hst u ‘ { art, Ulen titrated with
<»i iron alum mfiletl a* an nulieator. mh n.m •« . # in.Mu UlliirjIf
a solut ion of ammonium sulploeya.iate, l c. c. of which is equivalent to 10 gold weight
34
REPORT OF THE DIRECTOR OF THE MINT.
of silver. The complete precipitation of the silver is, of course, indicated bv the
formation of a brownish red color which will not disappear on shaking. The fineness
of the sample is obtained by multiplying the direct burette reading by 10
Item.
Samples operated on.
Gold.
Sfiver.
Total.
Deposits .
16,258
432
17,900
432
1 "T1
Redeposits. .
J . L-±_
Exchange bars .
1ft9
Purchase bars .
Do
134
52
HE
ITU
134
52
Return bars .
Anode melts .
Mint fine melts
9 19ft
91 ft
1 • 064
Ingot melts .
«- f IJJ
999
OX O
2,436
3,462
172
Consolidated melts. .
172
lie
o,SSU
Experimental samples .
oo
Bullion assav samples .
no
12
14
199
138
12
14
Superintendent s grain bar.. ..
Mel ter and refiner settlement bars
OO
Comer’s settlement bars . .
io
So
o
150
A saver's bars . .
lo
o
26
Sweep samples . .
44
(VO
12
56
General Land Office ore samples _
93
186
Forest Service ore samples .
tO
in
72
147
Total .
iU
10
20
20,364
5,987
26, 571
w-.7c o , , ‘ ™ lur me general i.and Uthce and the
r ore&t Service 3 samples for copper, 9 samples for lead, 8 samples for
tm, and o samples for platinum. ^
Number of assays made and segregated.
Assays.
Number
made.
Assays.
Number
segre¬
gated.
Gold .
62.596
7,456
210
713
314
70
Deposits .
52,413
1,893
4,208
7,073
5,772
Silver .
Sweeps .
Purchases **“
Bureau of the Mint
Ingots .
General Land Office
Refinery . .
Forest Service .
Miscellaneous .
Total .
Total .
71,359
71,359
Cupels made. 130.000.
Leads cat and rolled * 130.000.
The average cost per assay was $0.29S.
35
OPERATIONS OF THE MINT SERVICE.
Ingot melts.
Melts.
Passed
on first
melting.
Remelted.
Total.
Gold ingots .
108
1,118
233
107
09
2
24
0
3
1
110
1,142
233
170
70
Silver ingots .
Philippine pesos .
Philippine 20 centavos .
Philippine 10 centavos .
Total .
1,G95
30
1,725
Two melts of Philippine pesos were condemned.
Fineness of ingot melts.
Domestic coinage.
Philippine coinage.
Gold.
Silver.
Pesos.
20 centavos.
10 centavos.
10 at 899. 8
54 at 899. 9
32 at 900. 0
5 at 900. 1
1 at 900. 2
1 at 898. 7
97 at 898. 8
2G7 at 899.1
274 at 899. 3
220 at 899. 5
158 at 899. 8
G7 at 900.0
20 at 900. 2
8 at 900. 4
9 at 798.4
17 at 798. 0
30 at 798. 8
52 at 799. 0
53 at 799. 2
35 at 799. 4
28 at 799. 0
4 at 799. 8
5 at 800.0
1 at 747. 8
2 at 748. 0
19 at 748. 2
29 at 748. 5
32 at 748. 7
41 at 748.9
25 at 749.2
9 at 749. 5
3 at 749. 8
2 at 750.0
4 at 750.3
23 at 748. 2
11 at 748. 5
17 at 748.7
15 at 748. 9
2 at 749. 2
1 at 749. 2
108
1,118
233
167
09
MELTING AND REFINING DEPARTMENT.
The melter and refiner submits an extract from the report of the
superintendent of the refinery on the discovery in a refinery furnace
product of platinum arsenide.
During the last year two matters of sufficient interest to merit mention in the Annual
Report of the Director have occurred in the melt ing and refining department of this mint.
One was the discovery in a refinery furnace product of platinum arsenide by Mr.
E. J. Wagor, superintendent of the refinery, an account of which is inclosed herewith.
The other relates to the use of wire cloth instead of single wires for collecting dust
hi settling chambers. In the attic above the refinery melting room is a long, horizontal
flue leading into a settling chamber, 9 feet 5 inches wide by 12 feet long by 6 feet high,
just before entering the stack. In July, 1911, a part of this large chamber was equipped
with baffles, consisting of sheets of wire cloth 6 feet by 4 feet in size, hung transverse to
the current on rods 4 inches apart. Two sheets were hung on each of 10 rods ana so
arranged that a complete clogging of the meshes would not choke the draft. I hat is,
while the chamber is 9 feet 5 inches wide, two pieces side by side co\ er only 8 feet,
the remaining opening of 1 foot 5 inches being left first on one side then on the other,
so that the draft could zigzag through even though the meshes were closed complete y
by the dust. . . , x i
The cloth used had a f-inch space (i. e., actual opening was £ inch square) and was
made of iron wire, size No. 8 W. & M. (equals No. 6 13. & S. or equals 0 16- inch diame¬
ter). Each piece contained 708 linear feet of wire, the 20 containing 14 160 feet By
actual t ime, two men hung and adjusted the 20 pieces, contammg over 2* miles of wire,
At settlement, June, 1912, after being in use 11 months, three timesas much dust
was collected as in previous years before the installation of the wire 1 ’ f , . ...
the dust from this part of the chambers usually produced about 10. ounces |®fgold, this
year 16 ounces were obtained, and this in spite of the fact that less than two-thirds as
ofttag" ITeU, I believe, U no. and cemmly.b-va.tly superior to
that oi .inele wi?L on aieount of lie lime and labor saved m hanging and cleaning.
PLATINUM ARSENIDE — A FURNACE PRODUCT.
Of no commercial importance, but perhaps of some scientmc inte^is die gat
plat iuum arsenide inav be formed under certain conditions in the operation of melting
the anode mud l^n ^ copper refining cells. Of special interest, inasmuch as the
36
REPORT OF THE DIRECTOR OF THE MINT*
crystals eo formed nre identical with the rare mineral sperrylite, the only mineral in
which platinum is found as an essential constituent and which has been found only in
the province of Ontario, Canada, and in Macon County, N. C., and in copper ore at the
Rambler mine, in Wyoming^
Twenty-three years ago Francis L. Sperry, connected with the Vermillion mine,
near Sudbury, Canada, sent to Horace L. Wells for examination a bright crystalline
substance which had been found in pockets of decomposed masses of ore, in conjunc¬
tion with sulphides of copper and iron. Wells found this bright-looking sand to be plat-
inum arsenide (Pt As2) and he named his new mineral sperrylite. Wells also produced
artificial Pt Aso by heating a known weight of platinum to redness and passing over it
vapor of arsenic in a current of hydrogen, confirming the claim of its previous
preparation by Murray.
The anode sludge, the melting of which produced the crystals of platinum arsenide,
diners from ordinary copper sludge and is quite variable in composition, dependent
wholly upon the anode content, but will probably average 20 to 30 per cent of the
precious metals including 2 to 4 per cent platinum, copper in fragments and powder,
sulphate of lead, basic sulphates of antimony, bismuth and tin, sulphides of silver
copper and iron, arsenates and antimonates, silica, carbon, and fragments of slag'
These slimes are washed thoroughly, dried, and melted in crucibles with borax and
soda, and allowed to settle.
mZafJ^?v.SUl9 ^ere,fr?dJU ,a ver5Lthin layer of speiss, which separated from the
considerable : difficulty . The fact that the crystals are not attacked by acids
!tenera.lly, and only slightly by aqua regia, led to their discovery in testing the speiss.
In washing free from acid, it was noticed that the crvstals were not easily wet by water
*nrwit^nd“l theif ^lgh specific gravity, showed a marked tendency7 to float
when brought to surface of the water, a marked characteristic of the mineral
Ihe microscope develops striking tin- white, isometric crystals with extremelv
brilliant crystal faces and sharp-cut edges. The crystals are mostly fragmentary7
showing cubes octahedrons, and pyritohedrons, and a conchoidal fracture. g }
*** neated rapidly in a porcelain crucible, a slight decrepitation is noticed and
then abundant fumes of As^ are given off until a certain point is reached when the
ma^ fuses readily to a hollow silver-white globule, which is slightly malleable Heated
slowly, all the areenic is driven off, leaving a platinum sponge. A known weight of
heated very slowly until fumes ceased to be given°off. It Z7 thriven
lgh heat, cooled, and weighed. The loss in weight accounted for 42 7 percent
arsenic which agrees within 0.8 per cent of the theoret ical amount. ' P *
lhc hardness is between 6 and 7; the specific gravity is given as 10 0 qnd tho fnQ;
bility as 2. The crystals when dropped upon a red-hot platinum foil instantly melt"
whteh A®203’ fnd P°roUri excrescences are formed on the platinum’
MMJtie m^dn^terist^reactton!6 untouc^e3 of foil. Thi.i.givJby wS
The melter and refiner received, operated upon, and delivered void
as Mows: mino,'-coinaR0 metal during the fiscal year 1912
Items.
Gold account.
Silver account.
Minor coinage
nietal account.
Receipts:
Settlement metal of June 30, 1911
Deposits and purchases. .
Redeposits . .
Stand, ozs
1 . 896, 666. 472
2, 895, 436. 799
52,575.368
333,157.414
293. 990
Stand, ozs.
685,882.29
1,159,357. 21
31.ti01.06
1,447,996. 13
Gross ozs.
1,311,060.38
Clippings . .
Proof gold, supermtendent’s sweep bars, etc
Philippine recoinage . .
6i3,89i.31
Copper purchase . ’ .
Tin purchase . . .
Zinc purchase . .
Total .
. .
12,604.75
j— . :
500,’ 864. 58
14.991.66
14.991.66
Deliveries:
Gold certificate bars
3.589,813. 78
2.455,799.59
Merchant bars . .
3,427,856. G97
5, 834. 309
331. 638. 400
, 440. 847
1.412,765. 126
Fine bars . . .
Ingots . .
Sweeps . ; . . .
Settlement of June 30. 1912 .
Total .
17. 822. 73
3, 189,378.30
1,054.73
386,746.04
1.889,919.90
" 559,3i5. 78
Surplus .
W astage . IWl]] .
5, 178,535.379
506.336
3,595,001.86
5, 188.08
. . .
2, 449, 235. 68
• •«•»... .
0,503.91
37
OPERATIONS OF THE MINT SERVICE.
Amount operated upon during fiscal year 191*.
Operations.
Gold.
Silver.
Bronze.
Refinery .
Stand, ozs.
o n-'j -ov ivio
Stand, ozs.
Gross ozs .
Deposit room .
Ingot room .
v*v. io\
2.895.435.799
342. 400.009
444,286.25
210. 291. OS
3.2S6.67S.41
.
Total
i,S91.291.90
3. 941, 25o. i 4
1,891.291.90
Refinery .
GOLD BULLION.
Delivered to refinery:
Bullion without charges .
Crude bullion with charges, .
Returned from refinery:
Fine bars .
Settlement June 30, 1912.
Surplus
Delivered to refinery:
Bullion without charges.
- Bullion with charges _
Returned from refinery:
Fine silver bars .
Settlement June 30, 1912.
SILVER BULLION.
Surplus
Standard Standard
ounces. ounces.
1,279, 766. 4S4
793,751.150
- 2,073,517.634
2,004.212.931
09.525.078
- 2r073.73S. 009
220.375
169.S27.65
209.362.69
- 439,190.34
365,592.56
78,693.09
- 444.2S6.25
5,095. 91
COINING DEPARTMENT.
The coiner of the mint submits a report on the new equipment in¬
stalled, the results of experiments made, and improvements achieved.
He says:
Uniformity of rolling is the goal toward which the various mints have been directing
their best efforts for many years. The accuracy attained is remarkable, considering
the difficulties to be met in rolling strips of metal of varying degrees of hardness. The
enormous pressure necessary to produce a displacement of the metal and the strain
put upon the rolls, bearings, and housings varies with the hardness or softness of the
metal being rolled and the amount of ‘‘draft ” or squeeze.
It has long been known that bodies really solid do not exist. Let us then consider
metals as semifluid bodies, whose forms may be changed by pressure. All metals
possess some elasticity, and will resist pressures or strains to their limits of elasticity
before permanently changing their forms or taking on “permanent set.”
The strains put upon the housings cause them to stretch to a greater or less extent .
as the pressure varies, thus making wider or narrower, as the case may be, the opening
between the rolls through which the metal passes, thereby varying the thickness of
the strip.
The problem of properly lubricating the journals to prevent friction is one of great
difficulty, when we consider the possibility of squeezing the film of oil out of the boxes
and thereby changing the thickness of the strip, resulting in a variation sufficient to
condemn the blanks punched from it. The thinnest possible film of oil must con¬
stantly be kept in the bearings when the rolls are in operation. Intermittent lubrica¬
tion would result in imperfect work.
The process of rolling hardens the metal and causes it*to lose its malleability. The
working of the metal causes its temperature to rise. Tests on silver show this rise of
temperature to be in some instances as much as 150° Fahrenheit from start to finish
of rolling.
The hardness of the metal varies with the temperature at which it is worked, and
as some of the melts, or some of the strips in a melt will cool more rapidly than ethers
the rolling of each strip is not finished at a uniform temperature.
Some of the heat generated in the metal by rolling passes into the rolls and, together
with the heat of journal friction, causes expansion of the various parts, again interfering
38 repobt of the director of the Mini.
. . • n„protP(l upon. The rise of temperature of the
with the uniform thickness o E Btng * opgQ ^ J)0 Fabrenheit. Taking 0 M000599 as
rolls and bronze boxes is at times i that o{ braS8 or bronze, 18 inches as
the coefficient of expansionofsteeiO.OWOiuj^ ^ ^ lhicknegs of th bottoms { lhe
the outside distance of roll journals, a mperature in the rolls and boxes would be
two boxes, then the expa^ion lor i 0.5o0926 inch. As this expansion would
0.000011577 inch, and for b0 wo r(U it would result in making the strips
be from fixed points in the ^hou s 8 . ^ [Q the housings by conduction, and the
thinner. But when thish^t istra t experienced and the counteracting
housings in turn expand, ®PP° . thkker (jf course, this tendency is not so
he me of temperature in the housing is slower than that
of the rolls and boxes uniform than that of silver, and records
sh^Sr^hKSXT^ tiCeuracy in rolling w ith gold than with
^Having all these varying factors metafoperated’ u^wn is fairl^untionn1 in^artlnos^
paratively accurate rolling U the .1 . ,| ( diameters of the punched blanks
L.haiisthepnnctpal [obstacle 2^8 to their tiScltn«».
are practically constant, theurweig * tolerances of the several denomina-
of different pieces corresponding to one gram— to legal tolerance
to working tolerance:
Table I.
Denomination.
Weight of
standard
coin.
Legal
tolerance.
Working
tolerance
from
standard.
Diameter
punched
blank.
Thickness
punched
blank.
Double eagles .
Grains.
516. 00
Grains.
0.5
Grains.
0.35
Inches.
1.350
1.066
Inch.
0.083
.068
.054
.006
.051
.038
Eagles .
258.00
.5
.35
Half eagles .
129.00
.25
.13
. 834
Half dollars .
192.90
1.5
1.25
1.209
.958
Quarter dollars .
96. 45
1.5
1.25
Dimes .
38.58
1.5
1.25
.711
_
1 _ _
Table II.
[Weights and variations of coin blanks in grains equivalent to thickness in inches.]
GOLD.
Double eagles.
Eagles.
Half eagles.
Grains.
516.00
1.00
.50
.35
Inch.
0.083000
.000160
.000080
.000056
Grains.
258.00
1.00
.50
.35
Inch.
0. 008000
.000263
.000131
.000092
Grains.
129. (X)
1.00
.25
.13
Inch.
0. 054000
.000418
.000104
.000054
SILVER.
Half dollars.
Quarter dollars.
Dimes.
Grains.
192.90
1.00
1.50
1.25
Inch.
0.060000
.000342
.00051.3
.000427
Grains.
96. 45
1.00
1.50
1.25
Inch.
0.051000
.000528
.000793
.000660
Grains.
38.58
1.00
1.50
1.25
Inch.
0.03SCO0
.000984
.001477
.001231
ments with’ u'ni^Vromeu-r^m' “ is not possible to make such close m<- -u ,lj,
a micrometer as the toregoiug table indicates would be necessary
OPERATIONS OF THE MINT SERVICE.
39
strips are rolled down as close to standard as possible, test blanks are punched out
and weighed, and the final adjustment of the rolls made in accordance with the weight
test. But it is nevertheless true that when the standard point of thickness is reached
the greatest allowable variation from that point in operating on double-eagle strips
is 0.0000562984 of an inch, and a variation of 0.000080426 would cause theblanks to
reach the legal tolerance limit in weight. The total allowable working variation,
0.70 grain, between a blank 0.35 of» a grain heavier than the standard and one 0.35
grain lighter than standard is equal to 0.000112596 inch in thickness.
It was formerly the custom in this mint, as it was at one time in all the mints, to
roll the strips down close to standard, anneal them, and finish the operation bypassing
them through the small stationary rolls of the drawbench die. The heavy blanks
from these strips, on reaching the adjusting room, were filed down to weight by hand.
At that time the weighing and adjusting was all done by hand and the expense of
maintaining the adjusting room was very great; the labor cost for adjusting at times
amounted to nearly $200 per day. The amount of adjusted blanks produced varied,
as now, in accordance with the closeness and uniformity of the rolling. The com¬
paratively small additional expense of maintaining the annealing process and the
draw bench at that time was justified by the lowered labor cost of adjusting resulting
from it. This was before the rolling had been brought up to its present standard, and
before the perfecting and adoption of the automatic weighing and reducing machines.
The lessened cost of adjusting under the new conditions did not warrant the longer
maintenance of the drawbench, and the wisdom of discarding it is unquestioned. A
new impetus was thus given to the already strenuous efforts to perfect the rolling,
which is resulting in permanent good to the service. During the last year two of our
10-inch rolling mills were changed from the wedge adjustment of the bottom-roll type
to the screw adjustment of the top-roll type, which proved to be quite an improvement,
as the number of joints is lessened and the rolls and bearings are held more firmly
in the housings. , , . . , . ,
The boxes of the bottom roll rest directly upon the frames in the housings, and the
top roll is held firmly against the upper bearings by means of rods passing through le
top of the frame. The tops of these rods are fastened to the case which contains the
worm and screw adjustment gears of the pressure screws by means of adjusmble nuts
resting upon coil springs. The bottoms of these rods are screwed 1 . •
frames containing roller bearings. The top roll is supported by these roller bearings
and, together wim its bronze boxes, is held up against the housings. . ,
The roll can be more firmly held in place, with less rictmn ,J by means of Oiese
roller bearings than it could with the bronze boxes formerly , ,. P lp
allows for greater radiation of the heat generated, in
of tool steel, hardened and ground, and are run m bronze cages of suitable design
“TheZSfroll i, ««ed with pr^re co.tn.ll™ MtoS
sisting ot two accurately turned tool 6teel screws, 3 , . . QD(j ioCke(j to hous-
■ockei* on broD,e be”‘
1D'hie adjustment of upper roll is positive, botli ^'P anTresTon mpoi^ousings^
coil springs with adjustable nuts surround pressu - . ]landwheel ar-
The pressure-adjusting screws are actuated by g " j atecj an(j reading to
rangement, having adjustable micrometer indicator dial, graduated
1/20,000 of an inch. ... to change position of roll not
Each pressure screw is capable of separate a J - - wjtb universal coupling drives,
more than 1/2,000 of an inch . These roUs are eq |U PPu 1 h machines and t he noise
in place of the wabbles formerly used, and the jar upon me
were almost entirely eliminated. . , fiscai year.
These changes were not completed irntd h 1 1 hftlf dollars, of which 55,687.40
During the year we .weighed 906,473 J9 ounce ^ weight; 93.9 per cent, or
ounces, or 6.1 per cent were condemned o
in thickness; ^,M^nwfT^SA7limit; 96.2 per centot the strips
per cent, or 339,790.71 ounces within the worKii ^ than 0.000660 inch in
from which this was cut did not vary fro . ;,ji within the tolerance limit,
thickness; 464,859.98 ounces of dunes were P - than 0.001231 inch in thickness,
or nearly 100 per cent within a variatio j id, were being changed to the screw
This metal was not operated on by the rolls wnu.
adjustment.
40
report of the director of the mint.
We were able, however, to get a test run on eagle strips when the rolls were com¬
pleted, and the following statement of the adjusting-room record of operations on
eao-ie blanks punched from these strips shows how satisiactoiy the test wasr
Adjusting-room record of operations on eagle blanks Jor April , 1912 .
Items.
Ounces.
Per cent.
A mount inside limit . . . . .
145.392.84
21,760. 00
5, 145.30
718. 52
20. 977. 53
84.38445127
12. 62927156
2.98627715
fYmHomnpfl nnnphft<» lights . . .
Heavies filed light . . .
Heavier recovered bv filintr machine .
12. 17M3433
.00454137
3.4404140
96.55958561
Per cent of total operated on condemned by filing machine .
Total condemned lights and filings .
5.927. 77
160.370.37
5,863.82
63.95
172,298.14
.37
Amount good work .
Amount condemned . - .
Amount filings .
Total ounces operated on .
Filings per 1,000 ounces operated on. .
Over 84.38 per cent of blanks as they came from the punch, without any shaving
or filing whatever, were within the working tolerance limit of 0.35 grain above to 0.35
grain below standard; or, in other words, over 84.38 per-cent of the metal rolled did
not vary either way from standard more than 92/1,000,000 of an inch.
This is fairly accurate rolling, even for the mint service, but we hope to improve
upon it.
The refinery also produced :
Value.
Electrolytic copper, 5. 126.67 pounds . $908 40
Sponge platinum, 70.60 ounces . . 2 471.04
Sponge palladium, 12.82 ounces . ; . ’ qoq 50
Osmiridium, 1.18 ounces . ..I.!....!!.!”””! . 4L30
The surplus in gold is due to the recovery of metal lost in previous
years and the surplus in silver to the recovery of silver from fine gold
deposits re-refined in this mint.
COINING DEPARTMENT.
The coiner received gold, silver, and bronze from and delivered to
the superintendent during the fiscal year 1912 as follows:
Item.
Gold.
Silver.
Bronze.
Receipts:
Ingots .
Stand, ozs.
Stand, ozs.
Tron ozs.
Deliveries:
Coin .
cuppings, etc.;::;;;;;;;;;;;;;;; .
737,394. 400
3,576,494. 82
1, 9o< , 63o. oo
342,925.000
394.487.038
2,010,147.24
1,565,608.59
1,299.528.32
656.603.01
Surplus .
Wastage . ;;;;;;;; .
Amount operated upon
737,412. 03S
17.638
3,575,755.83
. 738.99
1,956, 131.33
. i, 502. 33
Percentage of com produced to araonni operated upon! !
628, 345. 850
54.58
3,458,809. 13
58. 12
1,913.399.50
67.91
rp. number op employees.
year wasT^di^^ institution at the close
department.
ueneral. . . - - - -
.
Assay . . .
To Lil .
Employees-
OPERATIONS OF THE MINT SERVICE
41
VISITORS.
During the year 41,369 visitors were shown through the mint.
MINT OF THE UNITED STATES AT DENVER.
This mint was in operation throughout the year. Nickel coinage
was executed here and the first delivery amounting to $1,000 in these
coins was made on February 5, 1912. The first coinage made here of
bronze 1-cent pieces was on May 20, 1911.
On January 12, Mr. John C . Wells, assistant coiner, was made coiner
to succeed Mr. Jabin B. Baldwin, deceased.
Redeposits of bullion were received during the entire year from the
United States assay offices at Seattle, Deadwood, Helena, Boise, and
Salt Lake.
ASSAYING DEPARTMENT.
The operations of this department during the fiscal year 1912 were
as follows :
Items.
Samples operated on.
Gold.
Silver.
Total.
Deposits . .
3,301
691
3,992
Redeposits . .
1,495
38
1,495
Exchange bars .
15
53
Return bars. .
3
3
Purchase .
540
540
Anode melts. .
57
502
559
Mint fine melts .
203
• 197
400
Ingot melts .
808
SOS
Consolidated melts .... .
3
3
Experimental samples . . . . . - . .
81
175
256
Bullion assav sam nip's . . . -
4
4
Copper melts .
7
7
SuDerintenrlpnt’Q drain hnr . .
15
15
14
17
31
2
2
Assayer’s bars . . .
12
38
906
906
26
52
129
129
258
Total .
5,402
4,020
9,422
Number of actual assays made.
Gold...
Silver. .
Sweeps.
36, 484 I Forest Service
31,675 ™ . .
271 I Total...
There were made, 60,000 cupels, and 60,000 pieces of lead cut and rolled.
The average cost per assay during the year was $0,259.
386
68,816
Determinations .
Fino gold.
Fine silver.
Fineness.
Melts.
Fineness.
Melts.
999.3. . .
11
23
32
65
51
19
2
78
53
65
1
999.4... .
999.5...
999.6... . .
197
999.7. . .
999.8... .
999.9... .
Total .
203
42
report of the director of the mint,
INGOT FINENESS.
The reported fineness of the silver ingot melts were as follows:
Fineness.
Melts.
Fineness.
Melts.
CftO A .
28
899.4 .
52
ftQC 7 .
56
899.5 .
15
fi .
111
899.6 . : .
7
ftQtt Q .
87
899.7 .
1
«QQ n .
170
899.8 .
1
£99 i .
125
£99 2 .
83
Total .
808
899.3 .
72
MELTING AND REFINING DEPARTMENT.
The melter and refiner received from and delivered to the super¬
intendent during the fiscal year ended June 30, 1912, the following:
Items.
Gold account.
Silver account.
Nickel account.
Bronze account.
Receipts:
Settlement metal of June 30, 1911.
Deposits .
Reacposits .
Clippings .
Ingot copper .
_ Tin .
Zinc .
Cube nickel .
Standard ozs.
366,471.505
1,091,126. 173
930,627.340
Standard ozs.
908,423.67
1,180,545.49
370,563. 15
1,110, 103.95
Troy ozs.
373, 175. 10
1,458,333.38
441,000.00
Total
2,388,225.018
3,569,636. 26
Deliveries:
Gold certificate bars .
Commercial bars .
Ingots .
Sweeps . . .
Nickel composition 3. .!!!!!!!!"’ ’
Bronze composition 3 .
Settlement metal of June 30, 1912.
Total .
Surplus. ...
Wastage. ..
2,272,508.43
1,641,004.349
1,805.211
305.828
2,586.38
3,249,642.30
2,281.54
1,227,366.60
745,028.258
314,207.80
3 38, 297. 70
999,877.33
2,388,143.646
3,568,718.02
2,265,541.63
81.372
918.24
6,966.80
Troy ozs.
1,290,453.49
437,652.65
138,297.70
8,939.58
29,181.25
1,804,524.61
1,774,404.30
18,414.06
1,792,818.36
11,706.31
■ Transferred from nickel account. : Transferred from bronze account. » Settlement of June 30, 1912.
the refinery.
as °Perati°ns7 covering a period of eight months, were
Items.
Gold.
Silver.
Deliveries:
Sent to refinery
Returns: .
Prior to settlement.
Bars at settlement. .
e> weeps at settlement. . .
Surplus .
W astage . .
Stand, ozs.
1,926,534.596
Stand, oz*.
1,710,630.69
1,849,959.078
76,185.045
120.574
1,627,651.73
80,382.41
547.82
1,926,265.297
1,708,581.96
Amount opeiated upon . .
269.299
1,926,534.596
1,710,630.69
OPERATIONS OF THE MINT SERVICE.
43
Operations fiscal year 1912.
Items.
Gold.
Silver.
Nickel.
Bronze.
Refinery .
S/and. ozs .
1,926,534.596
Stand, ozs.
1,710,630.69
3,325,410.35
Troy ozs.
Troy or?.
Ingot room .
1,234,333.40
1,786,110.61
Total .
1,926,534.596
5,036,041.04
1,234,333.40
1,786,110.61
The refinery also returned 573.7 pounds copper; 116.15 Troy ounces
platinum, and 14.95 Troy ounces palladium.
The refinery earnings were as follows:
Charges collected on bullion treated . 575, 809. 03
By-products as above set forth (approximated) . 901 . 42
Total . 81,770.45
MELTS MADE.
The following melts were made:
Items.
Gold.
Deposits .
Anodes .
Cathodes .
Ingots .
Fine bars .
Slimes .
Settlement ....
Sweats .
Nickel ingots. .
Bronze ingots..
Miscellaneous..
Total.
3,799
283
27
203
154
14
Silver.
739
502
27
808
196
221
17
Total.
4,538
785
54
808
399
375
31
661
356
452
71
8,530
Ingot melts condemned or remelted . 15
Number of employees in the refinery . - — ; . 21
Number of employees in the melter and refiner s department .
The sweeps cellar was operated under the supervision of the super¬
intendent of the mint.
COINING DEPARTMENT.
During the fiscal year 1912 the coiner received and operated upon
3 323 873 95 standard ounces of silver and produced therefrom
2 203 188 83 standard ounces of coin, valued at $2,741,840, and repre-
22 098 880 Pieces The loss in operations was 894.69 stand-
cent or thelefl allowance The per cent
of coin produced to the amount operated upon was 66 8
f Thl ffrst nickel coinage in this institution was executed during the
cent bronze, 75.13.
44
REPORT OF THE DIRECTOR OF THE MINT.
Receipts and deliveries by the coiner.
Items.
Silver.
Nickel.
Bronze.
Receipts:
Ingots .
Standard ois.
3, 323, 873. ‘.15
Troy ozs.
1,123,297.60
Troy ozs.
1,681,002.75
Deliveries:
Coin .
2,203,188.83
1,119,790. 43
748,747.70
373,175. 10
1,262,856.30
417,163.70
Clippings, etc .
Total .
3,322,979.26
894.69
1,121,922.80
1,374.80
1,680,020.00
9S2.75
Wastage .
Amount operated upon .
3,323,873.95
1,123,297.60
1,681,002.75
Percentage of coin produced to amount operated upon . .
66.28
66.66
75.13
In cleaning up at the end of the fiscal year 3 1 .65 standard ounces of
gold were recovered from the sweeps.
EMPLOYEES.
The number of officers and employees in the mint at the close of the
fiscal year was as follows:
General department . 49
Assayer's department . g
Melter and refiner’s department . " . 21
Coiner’s department . 15
Total . . . . . . ........................ . 93
VISITORS.
^ isitors to the number of 69,363 witnessed the coining operations
during the year.
UNITED STATES ASSAY OFFICE AT NEW YORK.
REMOVAL.
The year has been a notable one for t-liis institution, as, during
December, 1911, and January, 1912, the old building at 32 Wall Street,
which lias been the home of the L nited States assay office at New
} °,r,k smc® lt7as opened in 1854, was vacated and the work transferred
to the new refinery buildingin the rear of the old building. The employ-
MS deserve the highest praise for their loyalty and faithfulness when
they were working during tile last two years in the insanitary and
S.rw '11? " thui°ld bu,il,linS. it is hoped that the new
, “‘‘fer '1 "t1 S,tf!t ":lU I0011 he erected, as the temporary quar-
th?ir work C °nCal f°rce in the rofineIT building are not suitable for
It is worthy of note here that the old building was erected in 1891
presumably for the Second Bank of the United States, and occupied by
the New }ork branch of that bank until 1836, when the 3 went
the°St1tedof1New^>rfr<Sert? "Tl 't? to the Bank of
llMlo R^ the l' 1 «f° d 11 ,0 Government in 1854.
agamst the demoht.oi, of the old building, and the the
OPERATIONS OF THE MINT SERVICE.
45
have seriously considered incorporating the front wall in the new
building in order to preserve the historic landmark.
HEDEPOSITS.
Since January 1, 1912, redeposits have been received from the
assay office at Charlotte, X. (\, to the amount of 1,746.626 standard
United States Assay Offlcc Buildinp,
Assay Oiliec in
Wall Street, New
1854, and vacated
York City; erected in 1823, occupied by the
for demolition in 1911.
ounces of eolil and 278.22 standard ounces of sdver, and from the
mint at N?w Orleans, La., 40,825.013 standard ounces of gold and
28,069.77 standard ounces of silver.
r.m n BARS ISSUED.
Gold bars were issued to depositors
for bullion for $4,120,950.44, and gold
76347°— 13 - 4
for domestic use in payment
bars were exchanged for gold
46
KEPORT OF THE DIRECTOR OF THE MINT.
coin for domestic use for $24,629,211.61, making a total value of
gold bars issued for domestic use in the arts, etc., of $28,750,117.05,
showing a decrease of $277,801.32 as compared with the previous
year. The value of gold bars exchanged for gold coin for export
was $20,124,905.85, being an increase compared with last vear of
$19,840,853.21. The income for the exchange of gold bars for gold
coin was $20,564.45, and from special assays $2,021.
There were stamped during the year 63,812 gold bars as compared
with 65,003 during the previous year, or a decrease of 1,191, and
12,873 silver bars compared with 13,572 during the previous year, or
a decrease of 699.
EMPLOYEES.
The number of officers and employees in this assay office at the close
of the fiscal year was as follows:
General department . 43
Assay department . 14
Mclter and refiner’s department . 32
Total . 89
DEPOSIT MELTING ROOM.
The almost intolerable conditions of the assay office were some¬
what relieved September 15, 1911, when the deposit melting room
was moved from the cramped quarters in the front building to the
larger ones in the new building. The dirt and heat necessary for
the operations of a -melting room were at last placed on the ground
floor of a fireproof building specially built for the purpose with high
ceilings and sufficient space for the work.
The equipment of the deposit melting room consists of one stand¬
ard melting furnace and three medium-sized furnaces usin<r oil for
fuel, seven gas furnaces of a somewhat smaller capacity than the
medium-sized oil furnaces, and two smaller gas furnaces for the
small deposits. The use of both gas and oil in the deposit melting
room is to insure an uninterrupted service under all conditions and
yet to obtain the high temperature and economy of the fuel oil. It
would be possible in case of a severe snowstorm to do all the meltimr
by gas in this particular room.
The benches, dumping pans, settling tanks, etc., have all been
made fireproof— that is, there is no wood in their construction.
A special lead-lined iron tank with a pan and washing sink above
th°l \°n t llS ?°°!3}th lts overflow running to a large settling
tank in the basement. This system of traps practically insures the
wash waters which run to the sewer to be free from value The
pressure blower system which gives air to all the furnaces in the
that^nerdlv Rer-,ect satisfaction, is rather different from
1 i generally in use for similar purposes. It is known as a centrifn-
mlTlftwithThl 'r • rotftin* mounted u,“on the oom-
^ T g dT»tnt of tho This eliminates
r tled^'^
proport ion'S' to ^ the 'loaf!' ^ loads’ and thc power consumption is
OPERATIONS OF THE MINT SERVICE.
47
THE REFINING DEPARTMENT.
On December 18, 1911, the melting room of the melting and refin¬
ing department started operations in the new building. Eight
standard oil furnaces arranged around a square, with the necessary
tanks, pans, and benches, furnish the equipment of the room. The
square, which is in the middle of the room, is built of fire brick and
so constructed that it constitutes a settling chamber with the outlet
leading from its center to a large flue off to one side. The flue is
vertical and connects all furnaces throughout the building to a large
settling chamber on the ninth floor. The construction is such that
all flues and settling chambers can be easily cleaned and the values
obtained from the dust.
The standard furnace is so built that the burner looks directly
down in the combustion chamber, which arrangement puts the blow¬
torch flame against the bottom lire brick instead of the crucible, as
is usual in many of this type of furnace.
The make-up room and office occupies the other half of the third
floor and contains the necessary working desks, two large scales, one
lon<* table with soapstone top covered with leather, and the working
vault. The vault has a lowering platform before the door, which
allows the floor level’of the vault to be the same as the room. The
vaults throughout the building have the same construction, and this
has. proved to be of great value, because it allows the heavy trucks
to be moved in and out easily.
The sixth floor contains the shop and the electrical dynamos for
producing the proper current for the refining cells, the switchboard,
and controlling devices. The three low-voltage machines are sepa¬
rately excited from an outside source and are so connected through
the switchboard that any machine can be used on any circuit. The
machines are duplicate, and each is capable of producing 1,200
amperes at 20 volts, but only one is run at a time.
The third machine was specially built to produce the pulsating
current by placing an alternating current in series with a direct
current. This is accomplished by mounting on one bed plate four
machines, a driving motor, a direct-current dynamo, a single-phase
alternating-current dynamo, and an exciter. One lead from the
alternate passes directly to one lead of the direct current machine,
and the other two leads go to the gold cells. ,
The controlling device is unique because of the fact that the 110-
volt exciter excites the fields of both the alternator and the direct-
current machine, but with a hand rheostat in- senes with each, thus
allowing a relative adjustment of voltage. Ihe fields of the exciter
itself are excited by an outside source through an adjustable rheostat.
This complete arrangement gives the necessary large range of adjust
ments to suit every condition that might arise The value of this
combination machine is that it allows the use of anodes con aining
a greater proportion of silver, does away with the necessity o e a l
the electrolyte, and makes a slime containing a q > j
The low-voltage dynamos have a graphite composition brash arid
a device that gives a series of end thrusts on e ® commutator
which prevents the brushes from wearing tracks in the commutator.
48
REPORT OF THE DIRECTOR OF THE MIXT.
The shop proper contains a lathe, drill press, shaper, emery and
grind stone, and several smaller machines, all of them operated bv
individual motors. The rolls for making cathodes are located on
this iloor and are driven by an alternating-current motor. The idea
has been to place all possible machines on the sixth floor, so they
will be out of acid fumes, and this plan has given all that was
expected of it.
The seventh floor has been given over to the silver cells and the
precipitating tanks for the foul electrolyte. There are two circuits of
vertical cells, each series containing 16 jars placed on a long table
built of brick topped with soapstono slaos. The slabs are counter¬
sunk, making a A -inch rim around the whole table, thus preventing
drops of the electrolytes from falling on the floor. The two series of
horizontal cells are placed on a somewhat higher table but of similar
construction. 1 he floor of this room, and the eighth, or gold room,
is made of soapstone slabs so that any spill of acid or electrolyte does
no harm A centrifugal hard rubber pump lifts the foul electrolyte
lrom tli© level of the cells to that of the precipitating tanks and for this
purpose is much superior to the reciprocating type, as there are no
* . es uhdcT which small pieces of foreign matter may lodge, inter¬
fering with the proper action of the machine.
i ^[Co 191?’. V10 cureVt was turned through the gold cells.on
"S fl,oor.' wt'“h’ ‘ho exception of the sweep cellar, com¬
pletes the plant. Tho gold colls aro set on soapstono-topped tables
«TThfi Slm.’1“r thof« 0,1 ‘ho silver floor. There aro two tables
sTab thnomW.i'™ S'!fn|0t Vk 00 h' 'vith » heavy soapstone dividing
i • 1 ^ 1 puddle. On the top of the dividing slab electrically
nromdle^Trn ?ght 1haft line with pulleys at proper intervals. The
ir i • ors f CrT®? Vu woodon arms bolted to tho central slab and
ZtTZ oyna-hght belt rT 1 he-shaft lino- 111 cleaning up the ent^e
for liftS ?out leZ°ri ,U1S 8lvuJg the man in charge ample spaco
reenforced <r] s-lunea; A hirge soapstono hood with wire
of platinumand #£&£$£££?" “»f°r‘he
A testui^ laboratory is partitioned off from this floor in which all
TREATMENT OP SWEEPS.
™Z3toUnttrt:i ^ttCgtaS 7 °Ahro“gl tt
ia u standard mh^gSchtX" TfZn™' ,The »f >"m
remains stationary. It is o fin fit; ? • oU,s rc.volve and the pan
sarv to keop the mill in omi t in °nt Slzo so. that it will not be neces-
avaflable in oilier SLL S« S 0perat\on and the men will be
sweeps so that they can not bn ko rmH c<rmstantly agitates the wet
t'ater back to
OPERATIONS OF THE MINT SERVICE.
Year’s operations in refinery.
49
Sent to refinery.
Returned from refinery.
GOLD.
Crndo bullion with charges .
Stand, ounces .
92,251.589
2,221,541.358
GOLD.
Fine bars .
Stand . ounces.
2,087,855.080
225,947.453
Bullion without charges .
Settlement bars, sweeps, etc
Amount operated upon .
2,313,792.047
Total .
2,313,803. 139
SILVER.
Surplus .
10. 192
Crude bullion with charges .
974,093.31
83,099. 70
SILVER.
Bullion without charge* .
Fine bars
932,370.27
123,234.40
Amount operated upon .
1,057,193.01
Settlement bars .
Total .
1,055,610. 67
Wastage .
1,582.34
Refilling operations in the now refinery began on January 11, 1912.
ELECTOLYTIC PARTING AND REFINING OF BULLION.
DESCRIPTION OP THE NEW INSTALLATION.
The Government, in its dealings with the public, purchases both
gold and silver, so that a suitable refining procoss must handle both
of these metals. This is accomplished by a double system, one for
silver and one for gold. In the system which gives as a product pure
silver, the gold contained is also sufficiently refined to pass to the
gold process. If deposits which the Government buys arc very high
m gold contents, 0.850 or above, they pass directly to the gold cells,
thus saving much work, but if low, they pass through both processes.
THE SILVER SYSTEM.
In. practice, the deposits are so combined that the resulting melt
will vary between 250 and 400 parts in 1,000 in gold, 120 parts base
and the remaining parts silver. This molt, 3,8.00 troy ounces, is
poured into anodes 16 inches long, 3 inches wide, and \ inch
thick, with a 1-inch hole at one end for suspension in the electrolyte.
Allowing the gold contents in the anodes to vary between the above
limits reduces the clerical work materially and is permitted by the
process. .
Each anode is placed inside a muslin bag, tied at the top, and
then suspended in the electrolyte by a gold hook from the proper
connection. The cells for the silver refining are 47 inches long, 24
inches wide, and 24 inches deep, and are made from vitreous acid-
proof stoneware. The electrolyte contains about 2 per cent free
nitric acid and 2 per cent silver" nitrate, and this proportion must be
practically maintained in order to keep other metals from plating
on the cathode. The silver is plated on a thin strip of rolled silver,
which is lifted out once in eight hours, and the loosely adhering
crvstals scraped into a dish. Hie addition of glue to the electrolyte
for preventing treeing has been discontinued. I lie portion of the
crvstals which fall to the bottom of the tank are regained periodically
and added to the fine silver output. This bottom silver runs almost
as fine as does that which is scraped from the cathodes, lhe silver
50
REPORT OF THE DIRECTOR OF THE MINT.
and other soluble metals contained in the anodes are gradually
dissolved by the action of the electric current, while the gold
remains as a coherent mass, retaining the shape of the original anode,
but of a spongy nature and very easily broken. One of the functions
of the bag is to prevent these easily broken anodes from mixing
with the silver in the bottom of the cells, which, if it happened, would
necessitate a second refining. In general, the bullion purchased by
the Government contains so many base metals that the resulting
anode is very brittle, and often breaks before the current has had
time to act properly. This fact has necessitated the modification
of the vertical cell to what is called the "horizontal cell,” so named
because the anode and cathode lie in a horizontal position. The
position, however, is the important point, for the broken anodes from
the vertical cells can be selected out and placed in the horizontal
cells, and the refining action will continue. The horizontal cell is
slower, and requires more energy than the vertical cell, so that it
does not replace the vertical type, but supplements it.
A porcelain basket, with a filter bottom, is used in the horizontal
cells to hold the anodes, and the cathode is a graphite plate placed
about 4 inches below the other pole. The deposited silver is taken
out periodically by means of wooden scrapers and added to the fine
npIrL^on^o 16 f.ro'luct from the silver cells runs from 0.999 to
T^rt f 1 ’ n°- Ann' lf ***% tlus product contains more than 1
P8^ °f S°hl m 30,000 parts of silver it is retreated.
siWt^rtf °f tie foul ?lectro.1^te consists in precipitating the
silver bj metallic copper and regaining tins copper bv a chemical
process. A hard rubber centrifugal pump aids the exchange ^f
solutions from one set of tanks to another! cnange
of I f voltT 2t£S °f 16 7CTticaI c?U\eacli in series across the circuit
or H volts dhe current density is about 6 amperes per sciuare foot
if!™5 fb £ t " *
T1IE GOLD SYSTEM.
which are used for gohf refining1 °Evf fl°n •above.tlle silver room
inches wide, and 12 inches deen . .hach c cl l is 19 inches long, 15
which withstands the action of
inches long, 3 inches wide and f L l The1 .an°des are 8
ounces, with the top reduced in thtv™ t ?^ ^'iglmig about 75
tnaiigle, with a hole! for suspensU aUhTapS g ^ Sh&pG °f a
«»e through
to entirely submerge the anode as 'is , lLt JmPossl^le m this process
the gold suspension hook would be e it >'n s,dver cells, because
drop to the bottom of the tank. ° an'i the anode would
cl doric Idd °cont ain in ^ 3! r gram* *£fdc*nt so|ufion of free hydro-
Hie anodes run about 0.910 lino witli 7(?n ^ -I ^°n^e ^ie
fiom the cells will average 0.9995 fine ^ ° sj^ver> aru^ the product
OPERATIONS OF THE MINT SERVICE.
51
The use of the electric current in series with the direct current
has done away with the necessity of applying outside heat, lias
reduced the amount of free hydrochloric acid necessary, and has
allowed a greater proportion of silver in the anode without resorting
to hand scraping.
An effective current density of 70 amperes per square foot is main¬
tained in actual working conditions, and this is easily increased when
necessary. The circulation is accomplished by means of small hard
rubber propellers driven by a motor.
The slimes and the electrolyte contain all the metals which were
in the anodes, and it is here that most of the platinum and palladium
gradually accumulate. When the solution becomes foul the plati¬
num is precipitated by sal ammoniac as platinum-ammonium
chloride, which is carefully washed and upon heating yields spongy
platinum. This by-product of platinum is sold at intervals by the
Government, and is a source of income which was lost in the old acid
processes. The rare metal, palladium, is also separated by a chemical
process and adds to the Government’s revenue, but the amount
recovered is much smaller than the amount of platinum.
The slimes produced are clxiefly a mixture of silver chloride and a
finely divided gold, which product is washed tliroroughly, the chloride
reduced to metallic silver by zinc, and the whole poured directly
into anodes which are suitable for the silver cells.
The ordinary difficulty of imperfect contacts in an electrolytic
process is readily obviated in the Government refineries by using the
noble metals as" conductors. Tliin silver strips, half-rounded, along
a hard rubber tube, reenforced through the center by a steel rod,
serves the double purpose of a suspension rod and a conductor of the
current. The anodes are hung from these rods by gold hooks, which
method entirely eliminates all contact problems.
The general arrangement of the cells in the silver and gold rooms
is in duplicate, each set ordinarily sufficient to refine all the deposits
as they are received. This present year it has been found necessary
to run both sets most of the time because of the large surplus of bullion
on hand. The cliief advantage of two sets is to aid in quarterly
settlements without shutting clown, by cutting out one and starting
the other.
ASSAYING DEPARTMENT.
Durin" the fiscal year 1911-12 there were assayed 10,749 melts
of gold deposits and 1,987 melts of silver deposits. Fine gold melts
from melter and refiner’s operations numbered 303, and fine silver
niThe2usual assays of anodes, etc., were made for the refinery and
upon the sweeps obtained as well as those incident to settlement and
for the Mint Bureau. . . , , , <>
Special bullion assays numbered 861, consisting very largel.\ <>
articles of iewelry and manufacturers samples, in a number of ci
being for the enforcement of the stamping act governing tfm manufaoj
52
REPORT OF THE DIRECTOR OF THE MINT.
The necessary cupels for all these operations were made in the de¬
partment, and since removal to our present quarters in the new refin¬
ery building- we have been rolling and cutting the silver disks used
hi our assaying. A gas-operated still has supplied water for our labo¬
ratory operations and also for drinking purposes for the other depart¬
ments where desired. For our laboratory work it is conducted
direct to the boiling table. This table has .a glass flue and hood set
in aluminum frame, so that the acid fumes may be conducted off
and still give the light desired for the delicate work performed there.
Tiie steadily increasing quantity of the work done and the effort
to keen it up to a high standard of accuracy has made it an exceed-
ingly busy year and prevented any experimental assaying other
than that involved in the ones made for the bureau and in the prepa¬
ration of proof alloys for controlling results in the regular operations.
THE UNITED STATES ASSAY OFFICE AT SEATTLE.
The total number of deposits of gold dust and bullion received at the
beattle assay office during the fiscal year 1911 was 1,822,
5/S.531.57 standard ounces of the value of S10.363 153.
origin of these deposits is shown below
weighing
17. The
Source.
Gold stand¬
ard ounces.
Silver
standard
ounces.
Total coining
value.
Alaska:
Circle .
Cooks Inlet .
592.25
8S0.S4
3,165.19
309. 36
7,642.17
452. 85
$45,203.41
113,317.60
359,835.11
27. 453. 71
1,051,421.95
153,448. 74
v vrp 4-/V-I * * l % CJ ......
Eagle . .
lditarod . . .
Koyukuk . ’ ] .
Nome .
. 56, (Mo. 947 I
. 8,219.546
Southeast Alaska.'.
22,078.55
3,050.33
24. 648. 27
3,627,032 .73
268. 656. 69
3,349,481.44
Total for Alaska .
Colorado .
Idaho . .
Montana . . .
Nevada . . .
Oregon . .
South Dakota . .
Utah . .
Washington . . .
British Coiu mhia . . * * . .
Yukon Terri tor v . . .
. 33. 222
. 138. 679
. 644. 599
. 1 20.979
. 297.984
. . S. 196
. . 6 719
. 1 , 687. 262
62,819. 81
28.20
30.79
35.94
135.33
15.25
57.43
1.91
1 08
1,341.92
9,718.43
8,995,851.38
1,580.29
653.91
2,621.89
12,150.01
' 40S.05
5,610.72
154.70
126.26
32,952.43
1 14Q •iw on
Mutilated domestic go id *coi:i .
. . 9.704
1,638.88
.00
a | I IJ, UU
126,403.03
180.54
Deposit melting room grains
.00
815.01
738. 78
32,790 71
Cains on purchases.. .
Redeposits . .**“** .
Total .
. 23.170
. 1.318
. 27. 853
4.01
3.37
58. 15
8.25
492. 53
434. 98
93.17
527. 79
~ - - - -
"6, 713. 78
10,363, 153.17
«« h v iht ^
close of business June $0% 1911
Number of deposits....
Troy ounces . .
Avoirdupois tons. . . . .
Coining value . . * . ‘
July is, 1S9S, to the
48,125
11,608,362.50
399. 90
$200, 483, 637. 37
OPERATIONS OF THE MINT SERVICE
53
SOURCE.
Nome, Alaska, United States . $46, 006, 306. 90
Tanana, Alaska, United States . 41, 327, 385. /8
Iditarod, Alaska, United States . 1, 051, 421. 95
Balance of Alaska, United States . 9, 629, 418. 62
Total for Alaska, United States
British Columbia, Canada . . .
Yukon Territory, Canada .
All other sources .
$98, 014. 533. 25
13, 555, 560. 62
86, 751, 767. 00
2,161,776. 50
Total
200, 483, 637. 37
The net cost of operating the office for the fiscal year 1911 was
$25,897.10. , . ,
The total number of deposits of gold dust and gold bullion received
at the Seattle assay office during the fiscal year 1912 was 1,614,
weighing 312,823.891 standard ounces, of the value of $5,872 647.14.
The origin of these deposits is shown below:
Source.
Alaska :
Circle .
Cooks Inlet .
Copper River .
Eagle., .
Iditarod . .
Koyukuk .
Nome .
Southeast Alaska
Tanana .
Total for Alaska
California . .
Colorado . .
Idaho...- .
Montana .
Nevada .
Oregon .
Washington . .
British Columbia .
Yukon Territory .
South America .
Foreign gold com . .
Mutilated domestic gold com ....
Jewelers, bars, etc . • * *
Department melting-room grams
Gams on purchases .
Iiedeposits .
Total
Gold.
Stand, ox s.
2,337.635
7,028.542
14,126.340
2.776. 40S
49,836.786
6,819.334
99,091.820
6,664.261
57,557.144
Silver.
Total
Coming value
Stand, oxs.
510. 95
991.76
2,438.97
431. 10
6,728.24
369. 75
11,005.61
1.341.27
8.326.28
344,083. 58
131,917.62
265.653.70
52, 155.74
935,025. 24
127,301.58
1, 856,374.51
125, -547. 00
1,080,519.35
246,238. 170
32, 143.93
4,618,578.32
63.332
.99
1, 179. 42
13. 125
4.76
249.73
692. 333
101.20
12,998.37
1,090.206
137.94
20, 443.41
7.705
2.26
145.98
2,365.972
933. 19
45, 103.97
3, 388. 329
2,874.57
66,383.63
56, 548. 770
8,083.68
1,061,476.60
909. 502
197. 23
17,150.47
27.027
2.35
505.56
1596
48.30
17.091
818.00
1, 379. 768
746.09
26,538.28
25. 112
5. 42
, 473. 51
1.924
21.16
61.16
52.929
6.60
992. 43
312,823.891
45,261.37
5,872, 647.14
Total deposits from the opening of the office.
. 49, 739
Number of deposits . . . $206, 356, 284. 51
Coining value .
Origin of foregoing.
Alaska :
Nome .
Tanana .
Iditarod .
Balance of. : .
Total for Alaska ....
Canada :
British Columbia .
Yukon Territory .
All other sources .
$47,862,681.41
42,407,905.12
1,986,447.19
10. 376, 077. 85
. $102,633,111.57
14,617,548.76
. 85,768,911.49
2,336,712.69
Total
206, 356, 2S4. 51
report of the director of the mint.
The following table shows the number, weight before and after
, CTS melting, and percentage ot loss of the various classes
of bullion received:
Character of deposit.
Bars .
Dust .
Retort .
Nuggets .
Mixed .
Jewelry, scraps and bars.
Dental scraps and bars . .
United States gold coin. .
Foreign gold coin .
Redeposits .
Total.
Number of
deposits.
Weight
before
melting.
Weight
after
meityig.
Loss in
melting.
Per¬
centage
of loss.
359
020
216
98
166
83
34
30
(1) 2
Ounces.
244,083.58
51,256.95
10, 293.01
1,407.35
23, 144. 57
3, 404. 68
331.39
17. 03
2.55
63.14
Ounces.
243,959.50
49,562.56
9,656.12
1,332. 44
21,877.42
3, 348. 84
283.89
17.03
2.55
63. 14
Ounces.
124.02
1,694.39
636.89
74.91
1,267. 15
55.84
47.50
Ounces.
0.058
3.305
6.187
5.322
5.474
1.640
14.333
1,014
334,004.25
330, 103.55
3,900.70
1.167
i Foreign gold coin received with mixed deposits are not taken into account as to number.
The average fineness of the bullion deposited was as follows:
Gold, 852.8; silver, 123.3. . . . .
For convenience in shipping to the mints for coinage, 1,242 bars,
each under 400 ounces in weight and aggregating 62,61 1 .62 ounces
troy, were melted into 61 large bars.
A summary of the work done in the assaying department during
the year is as follows :
Quartation of silver manufactured . ounces
Cupels manufactured . number
Bullion assays made . do
Ore assays made for gold and silver . do. .
Ore assays made for base metals . . do. .
Special bullion assays made . - . do. .
Mutilated domestic coins tested (gold) . do . .
ASSAY OFFICES AT CHARLOTTE, DEADWOOD, HELENA, BOISE, SALT
LAKE CITY, NEW ORLEANS, AND CARSON.
These offices were open throughout the year as usual for deposit
of bullion and the details of their operations will be found in tables
elsewhere.
DEPOSITS, EARNINGS, AND EXPENDITURES OF ALL OFFICES.
The deposits, earnings, and expenditures of the mints and assay
offices during the fiscal year 1912 and number of employees at the
close of the year, were as follows :
450
10,000
0,500
197
89
36
51
Institutions.
Philadelphia....
San Francisco. .
Denver .
New York .
New Orleans. . .
Carson .
Boise .
Helena .
Charlotte .
Dead wood .
Seattle .
Salt Lake City..
Total.
Number of—
Deposits.
Rede¬
posits.
3,724
309
8,184
112
3,357
1,495
10,707
113
092
881
1,115
837
211
473
1,614
389
32, 184
2,029
Value of gold
and silver Earnings.2
deposits.1
$18,201,088. 98
50,079,450.03
39,756,910. 22
58,039,399. 17
1.492.828.79
1,041,422. 32
911,303.18
1.904.975. 80
79, 509. 82
7,866,736.03
5,882,549. 09
1,158,499. 28
$3,325,370. 30
1,372,400. 04
2,093,023. 43
110,250.10
3,704.60
3,717. 93
6,017. 46
4,037.27
854.16
10,917.95
10,681.40
2,249.41
193,015,272. 71 0,943,890. 17
2 TrwH°r, • cu a • at subsidiary rat
Including seigniorage on coinage.
Expendi¬
tures.3
$487,315. 21
225, 498. 03
170,204.75
227,355.12
19,909.00
15,284.07
14,541. 14
18,358. 05
2,980.00
14,090. 40
44,044.73
14,793. 10
1,201,040.80
Freight on
coin and
bullion.
$4, 012. 53
2,295. 53
1,528.05
985. 11
1,880.50
88.70
3,973. 75
10, 10S. 17
1,099- 40
20, 577- 74
Em¬
ploy¬
ees.
333
124
93
89
13
8
10
8
3
5
19
6
"tH
3 Including freight on shipments of bullion aud
between mints and assay ollices.
OPERATIONS OF THE MINT SERVICE,
55
OPERATIONS OF THE MELTER AND REFINERS AND THE COINERS,
FISCAL YEAR 1912.
The quantity of metals operated upon in the different departments
of the mints and assay office at New York during the fiscal year 1912
aggregated 13,043,306 standard ounces of gold and 36,144,103
standard ounces of silver. The figures in the table following are the
actual figures as obtained at the settlements of the accounts :
GOLD.
Institution and depart¬
ment.
Amount de¬
livered by
superintend¬
ent.
Amount re¬
turned to
superintend¬
ent.
Amount
operated
upon.
Surplus.
Wast¬
age.
Wast¬
age per
1,000
ounces
oper¬
ated
upon.
Per¬
centage
of good
coin
pro¬
duced
to
amount
oper¬
ated
upon.
Philadelphia Mint :
If aI4 aw onrl rofin nr
Stand, ozs.
9 Q1^
Stand, ozs.
9 077 070 172
Stand, ozs.
1,669,275.293
1,193,783.698
5,311.573.817
628,345.850
1,926,534.596
Stand.
ozs.
710. 259
16.790
Stand.
ozs.
Stand.
ozs.
Meiicr ana rcinjur ....
Coiner
1,193,783.698
C 178 AOQ A4*3
U# i f Uni. l it*
1, 193,800. 494
5,178,535.379
737,412. 038
2,388,143.640
l 31.650
28.69
San Francisco Mint:
506. 336
Melter and refiner ....
Coinpr
D j 1/0,1 \rto
737,394.400
2,388,225.018
17.638
.
54.68
Denver Mint:
Melter and refiner.. . .
Coinpr 1
81.372
0. 042
31.650
New' York assay office:
O 140 900 OJW
3,143,332.475
2,313,792.947
10.192
1
Melter and refiner . . . .
Of liu, 0£Zi~
Total:
Melter and refiner -
Coiner .
12,785,942.257
1.931,178.098
12.787,087.672
1.961,244.182
11.221,176.653
1,822,129.548
1,226.787
66.084
81.372
.
4 Af o 1
14 717 120 356 14 71S 331 854
13,043,306. 201
jl, 292. 871
81.372
li, ill, l^Uf wo Ilf • * w* •
SILVER.
Philadelphia Mint:
Melter and refiner. . . .
Coiner . . .
San Francisco Mint:
Melter and refiner ....
Coiner .
Denver Mint:
Melter and refiner ....
Coiner .
NewT York assay office:
Melter and refiner ....
Total:
Melter and refiner....
Coiner .
10,488,459.35* 10,492,896.67
9,192,682.04 9,191,988.77
3, 589, 813. 78 3,595,001.86
3, 576, 494. 82 3, 575, 755. 83
3, 569, 636. 20 3, 508, 718. 02
3,323,873.95 3,322,979.26
2,470,617.16 2,469,034.82
10, 167,456.34
9,159,473.84
3,941,255.74
3,458,809. 13
5,036,041.04
3,323,873.95
1,057,193.01
4,437.32
5,188.08
. i
693.27
738.99
918. 24
894.69,
1,582.34
t
1 . |
0. 182
.209
*54. 80
58.38
*66.28
20,118,526.55
16,093,050.81
20,125,651.37
16,090,723.86
20; 201,946. 13
15,942. 156.92
9,625.40
2.500.58
2. 326. 95
!
Grand total .
36,211,577.36 36,216,375.23 36,144,103.05 9,625.40
4.827.53
NICKEL.
Philadelphia Mint:
Melter and refiner . . . .
Coiner .
Denver Mint:
Melter and refiner . . . .
CninPr . .
Troy ozs.
10,309,361.53
9,944,707.25
2,272,508. 43
1,123,297.60
Troy ozs.
10,267,833.23
9,938,235.06
2,265,541.63
1,121,922.80
Troy
Troy ozs. i ozs.
9,699,591.10 .
8, 191,067.75 .
1,234,333.40 .
1.123.297.60 .
Troy
ozs.
22, 725.09
6,472. 19
6.966.80
1.374.80
Troy
ozs .
2.343
.790
5.645
1.224
Troy
ozs .
45. 5i
66.66
Melter and refiner - }?’ 21’ mu as
Coiner . 11,068,004.85
12,533,374.86
11,060, 157.86
10,933,924.50
9,314,965.35
29.691.89
7.846.99
Grand total .
23,649,874.81
23,593,532. 72
20, 248, 889. 85 .
37,638. S8| . | .
i No gold coinage; recovered from sweeps.
56
REPORT OF THE DIRECTOR OF THE MINT,
BRONZE.
Institution and depart- 1
ment.
Amount de¬
livered by
superintend¬
ent.
Amount re¬
turned to
superintend¬
ent.
Amount
operated
upon.
Surplus.
Wast¬
age.
Wast¬
age per
1,000
ounces
ope¬
rated
upon.
Per¬
centage
of good
coin
pro¬
duced
to
amount
oper¬
ated
upon.
Philadelphia Mint:
Meltcr and refiner
Stand, ozs.
Stand ozs.
Stand, ozs .
10,921,993 06
9,743,190.03
Stand.
ozs.
Stand.
ozs.
45,450.16
2,920.93
Stand.
ozs.
4.161
.299
14,178,231.56
13,832,172.33
14, 151,584.59
13,829,251.40
*********
64.80
Coiner .
San Francisco Mint:
Melter and refiner
Coiner .
2,455,799.59
1,957,633.6(5
2,449,235.68
1,956,131.33
1,891,291.90
1,913,399.50
.
6,563.91
1,502.33
3.471
.785
67. 9i
Denver Mint:
1,792,818.36
i 1,680,020.00
1,786,110.61
1, 0)81,002. 75
11,706.31
982. 75
6.554
.584
Melter and refiner. . . .
. 1,804,524.67
. 1,681,002. 75
.
75. i3
Coiner .
Total:
. 18, 438, 5.55. «
. 17,470,808.7-
> 18,393,638.62
1 17,465,402.72
t 14,599,395.57
i 13,337,592.28
53,720.38
5,406.01
Melter and refiner. ..
Coiner .
.
.
Grand total .
. 35,909,364.51
i 35,859,041. 3C
i 27.936,987.85
• .
69,126. 39
.
.
1
WASTAGE AND LOSS ON SALE OF SWEEPS AND GAINS FROM OPERATIONS.
The value of the precious metals wasted in the metallurgical and
mechanical departments was $3,969.54. A loss of $5,61 4.03 occurred
from the difference between the assay value of the bullion contained
in sweeps sold and the amount received for the same, as described in
the following table:
Items.
Phila- 1
delphia.
Mint at—
San
Fran¬
cisco.
Denver.
Assay
office
at New
York.
Total.
UaIIa, nn4 roflnor\ tmlfl WOStllFft . .
SI, 513. 90
455. 27
443.60
869.06
$1,513.90
1 , 255. 89
1,199. 75
5,614.03
ixlvllvl ill HI 1 Vllllvl O .
\ I | f nn/1 pofmer’s silver WAStilPft .
$800. 62
MClier ill 1 vl I bllllvl mi \ VI »• . . .
Fninor’c cilrPr W.KtRFP .
$372. 78
1,361.06
$383.37
455. 05
Loss on sale of sweeps .
Total .
2,928.86
1,733.84
838. 42
3,281.83
3,729. 48
9,583.57
Paid as follows:
From contingent appropriation .
From parting and refining appropriation .
Total .
930. 28
803.56
475.51
362.91
566.34
2,715.49
3,729.48
1,972.13
7,011.44
1,733.84
838. 42
3,281.83
3, 729. 48
9,583.57
Tl>e gains from operations in bullion during the fiscal year 1912
amounted to $130,546.97, as follows:
Character of gains.
Amount.
Surplus bullion recovered by the operative officers .
$29. 130. 83
23, 832. 74
1.044.01
131.07
76 4US .‘12
Value of deposit melting room grains and sweeps .
Net gains on bullion shipped from assay offices to mints for coinage.
Gain on light weight gold coin purchased for recoinage .
Receipts from the sale of by-products .
a U, ‘lt/O. uii
Total .
130.546.97
Deducting the wastage and loss, $9,583.57, from the gains,
tion during the fiscal year 1912 of $120,903.40.
$130,54G.97, gives a net gain from bullion opera-
OPERATIONS OF THE MINT SERVICE.
Receipts and disposition of gold bullion, fiscal year 1912,
57
Institutions.
Deposited.
Surplus
bullion
recovered.
Uedeposited
receipts from
mints and
assay ollices.
Total.
Deposits.
Uncurrent
United States
coin trans¬
ferred for
recoinage.
Philadelphia .
San Francisco .
Denver .
SI, 923. 040. 26
53, 868. 573. 00
20,327,099.88
53,612, 839.63
1,42*7, 824.92
997,717.80
1.815,566.74
869,595.61
78,174.86
7.592,073.78
5,819,475.65
1,122,415.30
$2,429,221.65
1 $18,474. 30
11,897.86
3,718.71
5,539.16
442. 06
199.83
221.39
549.83
186.84
187.96
503.74
185.37
$9,560,748.90
2 981, 146. 38
2 17,486.001.49
3794.047.25
$13,931,485.11
54,861,617.24
37,816,820.08
54,412.426.04
1,428,266.98
997,917.63
1,815,788.13
870, 145.44
78,361.70
7.592,261.74
5,819,979. 39
1,122,600. 67
New York .
New Orleans .
Carson .
Helena .
Boise .
Charlotte .
Deadwood .
Seattle .
Salt Lake City .
Total .
149,454,397.43
2,429,221.65
42.107.05
28,821,944.02
180,747,670.15
i Of this amount $94.16 was gained in United 2 This includes $3,000 proof gold.
States light-weight coin melted. 3 This includes $2,000 proof gold.
The disposition of gold bullion contained in the above table is as
follows :
Institutions.
Bars paid
depositors.
Shipment to
mint for
coinage.
Sold in
sweeps.
Bars ex¬
changed for
coin.
Coinage.
Wast¬
age.
Total.
Philadelphia .
San Francisco. . .
Denver .
New York .
New Orleans ....
Carson .
Helena
$247,101.37
24,743.41
4,120,905.44
13,553.33
1.. 557. 71
229. 08
V $3 *754*42
3 11,672,674.49
1,707,428. 69
974,625.46
1,845,657.41
917.788.93
78,360.51
7,837,084.39
5,764.777.79
1,117.607.90
$14.913. 86
8,201.80
8. .549. 81
5.024.80
•$6, 373,495. 82
7.102.366.89
13,(300.19
44.754,117.46
•
$6,369, 090.00
6, 380. 000. (K)
.
$13,004,601.05
13,515,312.10
25, 904. 42
60, 552. 722. 19
1,720.982.02
976.183.17
1.845,886.49
917,788.93
78,361.70
7,8137,084.39
5, 765, 250. 29
Boise .
Charlotte .
4 SI. 19
Deadwood..
ffpol fin
472.50
Dvottlb. .
Salt Lake City . . .
Total .
4,408.562.84
31.919.759.99
36.690. 27
58.243,580. 36
12.749.090.00
1.19
107,357,684.65
1 Includes $7,098.19 proof gold and $3,596.73 for
2 Error Seattle mass melt No. 70.
medals.
2 Error Seattle mass melt No. 70. _ „ _ , i)ar tQ Philadelphia.
3 Includes $3,116,156.75 certificate bars to Assistant Treasurer and v 1 ,446.1 g
4 Loss ifi mass melting.
BALANCES, RECEIPTS, AND DISBURSEMENTS.
Balance of gold bullion on hand June 30, 1911, and receipts dis¬
bursements, and balances June 30, 1912, at io mi i < ‘
Institutions.
Balance on
June 30, 1911.
Receipts dur¬
ing the fiscal
year 1912.
Total.
Disbursemen ts
during fiscal
year 1912.
Balance on
June 30, 1912.
$32,621,099. 44
97,695,523.69
50,320,673.64
103,155,118. 61
1,845,459. 19
998,396.87
1,935,470.40
954,880.72
78,361.70
8,071,902.80
6 027,153.29
1,1 73, 605. 28
S13,004,601.05
13,515,312.10
25,904.42
60,552,722.19
1,720,982.02
976,183.17
1,845,886.49
917,788.93
78, 361.*70
7, 837, 084. 39
5,765,250.29
1 117,607.90
$19,616,498.39
84, 180,211.59
50,294, 769.22
42,602,396.42
124,477.17
22,213. 70
89,583. 91
37,091.79
234,818.41
261,903.00
55,997.36
Philadelphia .
ban Francisco . .
Denver. . .
New York. . . .
New Orleans .
Carson..
Helena
Boise. .
Charlotte
Deadwood.
Seattle.
Salt Lake Cii v
$18,689,614.33
42,833,906.45
12.503.853.56
48.742.692. 57
417,192.21
479.24
119,682.27
84,735.28
479, 64i • 06
207,173.90
^1 on 4 59
$13,931,485.11
54,861,017.24
37,816,820.08
54,412,426.04
1 428,206.98
997,917.63
1,815,788.13
870,145. 44
78,361.70
7,592,261.74
5,819,979.39
l’ 122, 600. 67
viiy. . * .
Total .
Ol , vA/4** dJ
124,129,975. 46
180, 747, 670. 15
304, 877,645.61
107,357,684.65 ! 197, 519,
58
REPORT OF THE DIRECTOR OF THE MINT.
LABORATORY OF THE BUREAU OF THE MINT.
From the coinage of the calendar 3’ear 1911 the assayer of this
bureau tested 232 gold and 358 silver coins, all of which were found
Within the legal requirements as to weight and fineness.
In the gold coins the greatest deviation in fineness above standard
(the legal limit being 1 above or below) was 0.4, while the greatest
deviation below was 0.5.
lhe greatest deviation in fineness of silver corns above standard
(the limit being 3 above or below) was 2, while the greatest deviation
below was 1.5.
The following table and statement summarize these assays:
Philadelphia.
Denver.
San Francisco.
Fineness.
Gold. Silver.
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
S9S.5 . .
2
1
3
10
14
23
34
.7 .
10
13
14
24
.
.9 .
1
8
6
899.1 .
1
4
.3 .
.5 .
1
4
1
9
5
17
12
4
6
3
17
19
28
25
13
5
5
27
28
53
54
34
24
3
1
.6 .
.7 .
21
5
3
29
.8 .
S
17
17
13
3
33
9
8
50
.9 .
900.0 .
31
7
14
52
.1 .
•>
25
u.
",
*
13
9
16
14
8
2
2
1
54
34
22
16
9
5
1
1
1
.4 .
1
.7 .
9
3
5
3
.
.9 .
901.1 .
.3 .
•
.5 .
.8 .
1
1
902.0 .
Total .
64
202
55
72
110
84
229
358
Average fineness .
899.95
899.78
S99.S5
900.25
899.81
900.03
899.87
900.03
Total.
Besides the corns tabulated above, two coins from the Philadelphia
mint and one from the Denver mint on repeated assays showed wide
variations, but within the limits above stated, in the' composition of
olem-fal m ^ iff er en t parts of the corns. There were also examined
_4 Philippine and 10 San Salvador silver coins, all of which were
withm the legal requirements as to weight and fineness.
tf i 6 f°SU t • investigation by the bureau assayer upon the
methods of assaying followed m our various laboratories, which had
been going on . for several years, a meeting of six service assavers was
^ Philadelplna mmt qn April 18 and continued until
- i’ 19V-? , r the Purpose of devising nnprovements in the general
practice which should lead to greater accuracy in the assay' work
llns meeting resulted in the adoption of 15 unanimous recommenda¬
tions, most of which have been incorporated into the practice of the
department and it is expected that much improvement in the assay
work will follow as the result of the meeting. ~
Later in the year the bureau assayer inaugurated an extensive
investigation mto the sampling of goU bullion in its relation to the
settlement of accounts between purchasing offices and offices of rede^
operations of the mint service. 59
entitled “ The Samphngof Gold 'Si?," “ whfch^f /" *
those who may be interested in the subject. ^ J0 suPphed to
PROCEEDINGS OF THE ASSAY COMMISSION, 1912.
Tlie following-named gentlemen were designated as commissioners
o test and examine the weight and fineness of the coins raeAXt
the several mints during the calendar year 1911 pursuant to the prS
visions of section 354/ of the Revised Statutes-
Hon. Weldon B Heyburn, United States * Senate; Hon. D J
Riordan, House of Representatives; lion. William E. Cox, House of
Representatives; Mr. Zina Richey, Yankton, S. Dak.; Dr. Marcus
Benjamm Washington, D. C.; Hon. Warren R. Austin, St. Albans,
Vt.; Mr Ed wm S. Church, Akron, Ohio; Dr. Owen Louis Shinn
Philadelphia, Pa.; Dr. John Trowbridge, Cambridge, Mass.; Dr. G
W. Stewart, Iowa City, Iowa; Dr. R. C. Benner, Pittsburgh, Pa.;
Hon. Joseph Perrault, Boise, Idaho; Mr. Judson Brenner, De Kalb,
Ill.; Col. R. J. Woods, Sioux Falls, S. I)ak.; Mr. James H. Manning,
Albany, N. Y.; Mr. John D. Walker, Sparta, Ga.; Mr. Charles T.
Kountze, Omaha, Nebr.; Mr. H. Dudley Coleman, Waveland, Miss.;
Mr. Waldo C. Moore, Lewisburg, Ohio; Mr. L. A. Fischer, Bureau of
Standards, Washington, D. C. ; Air. Charles S. McDonald, Sioux Falls,
S. Dak.; Hon. Arthur W. Kopp, House of Representatives, Wash¬
ington, D. C.
The commission met at the mint at Philadelphia on February 14,
1912, and Hon. Daniel J. Riordan was elected chairman.
The following committees were appointed by the chairman with the
approval of the commission: . ,
Committee on counting. — Mr. Manning, chairman; Messrs. Uiurcii,
Walker, McDonald, Perrault, Austin, and Richey. c
Committee on weighing. — Dr. Benjamin, chairman, Messrs. e
art, Kopp, Coleman, and Kountze. /1.„;nOT
Committee on assaying.— Dr. Shinn, chairman; Messrs. Comings,
Benner, Moore, and Brenner. . , . , „rmtsnnin2'
Ihe committee on counting reported that the pa* g ^ ^ weIf
pieces reserved by the several mints for t io . « transcripts
delivered to them, and that they were compared with the Ha
V the Director of the Mmt and J.oul 1 ittees 0n weighing
erification the coins were delivered to the t
"fefeerved by the mbits for the purposes of the assay com-
Mission were as follows:
Institutions.
ferC,phia
S-«co:
States coin .
^Ppine Islands coin....
Gold.
Pieces.
Value.
Pieces.
2,334
1,009
2,244
$15,465.00
17,795.00
23,130.00
12,010
6,420
2,S90
m
Silver.
Value.
$1,763.40
851.25
617.50
60
REPORT OF TI1E DIRECTOR OF THE MINT.
The committee on assaying reported receiving and making assays
of coins reserved from the mints at Philadelphia, San Francisco, and
Denver, representing the deliveries made by the coiners to the super¬
intendents during the calendar year 1911.
The highest assay value of the gold coinage at the different mints
(the limit of tolerance being one one-thousandth) is at
. 900.f>
Philadelphia . 900. 1
San Francisco . . . * * 900. 1
Denver .
The lowest assay value of the gold coinage at the different mints
(the limit of tolerance being one one-thousandth) is at —
£99. 7
Philadelphia . 7
San Francisco . ‘ ’ $99. 7
Denver .
The highest assay value of the silver coinage at the different mints
(the limit of tolerance being three one-thousandths) is at —
901. 1
Philadelphia . 4
San Francisco . 901’ 5
Denver .
The lowest -assay value of the silver coinage at the different mints
(the limit of tolerance being three one-thousandths) is at —
Philadelphia . s
San Francisco . o
Denver .
The highest assay value of the Philippine silver coinage is at —
San Francisco (pesos) . |9?‘f
San Francisco (subsidiary*) .
The lowest assay value of the Philippine silver coinage is at—
San Francisco (pesos) . . iS' f
San Francisco (subsidiary*) . t-xn.o
The committees also tested the quartation silver and found it free
from gold, and the lead used in the assay of the gold bullion and found
it free from gold and silver. The acid used in the humid assay of
silver was found to be free from silver and also from chlorine.
The balances used were tested and found to be correct.
The committee on weighing reported having received and examined
sample coins selected at random from those reserved by the mints
at Philadelphia, Denver, and San Francisco, and that in no case did
the deviations from the standard weights of the coins examined
exceed the limit of tolerance. The working standards of the mint
were compared with the standards in the possession of the mint which
were certified to by the Bureau of Standards, Test No. 9502, Septem¬
ber 15, 1911. The 100, 50, 40, 30, and 20 ounce weights were found
to be correct within 1 part in 200,000. The 10-ounce weight was
correct to 1 part in 70,000, and the 1 -ounce weight was correct to 1
part in 7,500. The other weights were placed in two piles — the 6
and the 4, and the 5, 3, and 2 — and compared with the 10-ounce
standard. The former pile was found to be correct to within 1 part
in 100,000 and the latter to within 1 part in 34,000.
COMMITTEE OX RESOLUTIONS.
Mr. Kopp, chairman, submitted the report of the committee on
resolutions, as follows :
OPERATIONS OF THE MINT SERVICE. 61
Whereas there is now in the mint at Philadelphia a National Coin Collection of
great value, the result of years of effort on the part of the mint officials- and
Whereas this collection is yearly visited by thousands of interested visitors and is
or great educational and historical value; and
Whereas with a reasonable annual appropriation it wrould be possible to °reatly
increase this collection and make it one of the finest in the world; and
Whereas the Government has made and is selling at a reasonable price bronze medals
of the Presidents of the United States;
Now, therefore , he it resolved —
First, That the annual assay commission of 1912 hereby renews the recommenda¬
tions of prior commissions with reference to the maintenance and increase of this
National Coin Collection at the mint in Philadelphia.
Second. That in the opinion of the commission, in order to facilitate this work, an
official souvenir mint medal of typical and characteristic design should be struck off
and a descriptive booklet of the mint published, to be sold at a moderate price to
visitors at the mint.
Third. That the proceeds from such sales be devoted exclusively, under the super¬
vision of the Secretary of the Treasury, to the extension of this collection of coins and
medals at the Philadelphia Mint as aforesaid. We recommend an annual appropria¬
tion of $2,000 for this purpose.
Be it further resolved , That the thanks of the commission be heartily tendered to
Hon. George E. Roberts, Director of the Mint, Mr. J. W. Sheetz, and to the various
officials and employees of the mint for their uniform courtesies extended during the
session.
Respectfully submitted.
A. W. Kopp, Chairman .
Judson Brenner.
Waldo C. Moore.
The report of the committee on resolutions was unanimously
adopted.
MOVEMENT OF GOLD FROM THE PORT OF NEW YORK.
The superintendent of the United States assay office at New York
has prepared the following table giving exports of gold through the
port of New York:
Statement of United States gold coin and gold bullion exported from the port of New
York to Europe during the fiscal year ended June 30, 1912 .
Date.
Country.
Amount.
Rate of
exchange.
1911.
Sept. 29
Oct. 2
Dec. 30
1912.
TTpVv O
France .
$1,492,507
2,011,238
500
2,052,669
2,116,291
2,091,657
1,733,070
500
2,631,424
1,405,376
500
50,000
500
500
500
500
2 OQR =>36
$4.8645
4. 8615
do .
Netherlands .
4.8625
4.8760
4.8750
4. 8735
4.8725
France . .
r eo. *
.
□
7
Ho _ . . .
<
8
26
Ho .
Netherlands . . - . . . . .
Franrft . .
4.8725
4.8720
4.8685
4 S74f|
Alar. D
c
Ho .
Apr. 1
Netherlands .
Spain .
iy
26
Netherlands .
1* Oi iU
4 Q79fl
May 20
25
June 17
24
24
26
do .
04
4.8710
4.8720
4. 8735
do .
do .
France .
Netherlands .
4. 04 oO
4 C7QC
France .
OYJVJ
o/ <50
1 yUlOy OOO
4. Oi /U
Total .
19,600,323
1 .
76347°— 13 - 5
62
REPORT OF THE DIRECTOR 0? THE MINT,
Recapitulation of gold exports to Europe.
Classification.
France
Spain.
Nether¬
lands.
United States coin .
$50,000
$4,000
Bullion .
$19,646,323
Total .
19,546,323
50,000 4,000
Grand total of exports to Europe .
During the same period there were shipped
etc., the following:
United States coin .
Foreign coin .
to West Indies, Mexico, Central and South America,
$13,690,405
2, 270, 3S7
$19,600,323
T otal exports to other ports . . . 15 9^ 792
Grand total of gold exports . 35,561,115
The imports during the same period were as follows:
From Europe:
United States coin .
Foreign coin . .
Foreign bullion . .
Bullion in ore .
$68, SI 4
969,021
266,188
5,770
Total gold imports from Europe .
From other ports (West Indies, Mexico, Central and South America, Cuba etc Y
United States coin .
Foreign coin . . . . . . . . . . . . . .
Foreign bullion . " ’ ” .
Bullion in ore . . . . . .
$494,767
1,545,391
16,618,424
124,029
$1,309,793
Total gold imports from other ports
18,782,611
Grand total of gold imports
20,092,404
NET EXPORTS, UNITED STATES GOLD COIN.
The net exports of United States gold coin since 1870 were as
follows:
Imports and exports of United States gold coin since 1870.
OPERATIONS OF THE MINT SERVICE
63
STOCK OF MONEY IN THE UNITED STATES.
, 0ni!55 ??K ooo2, stock of domestic coins in the United States
was $-.,354,1 15, 2^3, as shown by the following table:
Official table of stock of coin in the United States June SO, 1912.
Items.
Estimated stock of coin June 30, 1911 .
Net imports, United States coin, fiscal year 1912
Coinage, fiscal year 1912 .
Total.
Less:
United States coin melted for recoinage (face value). .
United States coin estimated to have been used in
the arts .
Net exports, United States coin, fiscal year 1912 .
Total.
Estimated stock of coin in the United States June 30, 1912
Gold.
Silver.
Total.
$1,628,918,138
12, 749, 090
$727,886,731
2, 103, 148
9,655,405
$2,356,804,869
2,103,148
22,404,495
1,641,667,228
739,645,284
2,381,312,512
3,524,820-
3,500,000
19,393,410
i 679,059
100,000
4,203,879
3,600,000
19,393,410
26,418,230
1,615,248,998
779,059
738,866,225
27,197,289
2,354,115,223
1 Of this amount $601 were Hawaiian coins.
Note.— The number of standard silver dollars coined to June 30, 1912, was 570,272,610, which, added to
the Hawaiian dollar coinage, 500,000, plus the number imported from the Philippine Islands, 150,000, and
the number returned in Government transports, 496,859. equals 571,419,469. Since July 1, 1898, the num¬
ber of standard silver dollars exported in transports has been 2,495,000; and since 1883 the number melted
to June 30, 1912, has been 191,308(see Keportof the Directorof the Mint, 1912); and the number of Hawaiian
dollars melted to June 30, 1912, has been 455,141, a total disposition of 3,141,449, leaving in the United
States on June 30, 1912, 568,278,020 standard silver dollars, and 170,588,205 dollars in subsidiary silver coins.
Bullion in mints and assay offices June SO , 1912.
Bullion.
Value.
Gold .
$197,607,243
2,317,870
Silver (cost) .
Total . . .
199,925,113
Metallic stock June SO , 1907, 1908 , 1909 , 1910 , 1911, and 1912.
Coin and bullion.
June 30, 1907.
June 30, 1908.
June 30, 1909.
June 30, 1910.
June 30, 1911.
June 30, 1912.
Gold .
$1, 466,056, 632
705,330,224
$1,615,140,575
723,594,595
$1,640,567,131
733,250,073
$1,635,424,513
727,078,304
$1,753,134,114
732,002,448
$1,812,856,241
741,184,095
Silver .
Total .
2,171,386,856
2,338,735,170
2,373,817,204
2,362,502,817
2,485,136,562
2,554,940,336
O wnership of gold and silver in the United States , June SO, 1912.
/-W v 1 % I
Silver coin and bullion.
Total gold
Ownership.
VjrOlQ coin
and bullion.
Silver
dollars.
Subsidiary
coin.
Silver
bullion.
Total
silver.
and silver
coin and
bullion. -
United States Treasury
(free) .
$258,696,470
$28,714,046
$25,554,007
$2,317,870
$56,585,923
469, 224,400
31,817,262
5315,282,393
1,412,660,018
181,111,680
OH 170 OAA
United States Treasury
(for certificates out-
943,435,618
149,294,418
469,224,400
12,637, 221
stanamg; .
National banks (June
14 1912) .
19, 180,041
National banks (for
clearing-house certifi¬
cates) . . *
80,479,000
Private banks and indi-
vi duals .
380,950,735
57,702,353
125,854,157
183,556,510
564,507,245
Total .
1,812,856, 241
568,278,020
170,588,205*
2,317,870
741,184,095
2,554,040,336
64
REPORT OF THE DIRECTOR OF THE MINT
Location of moneys of United States June 30, 1912.
In Treasury.
In national
banks June 14,
1912.
In other banks
and in circu¬
lation.
Total
$197,607,243
2,317,870
1,004,524,845
497,938,446
25,554,007
$197,607,213
2,317,870
1,010, 5/JO
568,278,020
170,5SS, 205
i $229,773,418
12,637,221
19, 180,041
$3S0, 950, 735
57 , / 02, 3o3
125,854,157
1,727,942,411
261,590,680
| 564,507,245
2,554,040,336
8,983,695
13,430
39,992,733
188,440,207
2 59,539,974
149,257,114
2,915,570
645,602,285
346,681,016
2,929,000
745, 134,992
48,989,858
247, 9S0, 1S1
797, 774,969
1.094,745,008
96.621,751
12,324,600
296,921.380
138,569,628
646,514,238
330,654,772
108,946,351
435,491,00S
977,169,010
1,885,878,620
945,061,869
2,339,451,224
3,648,785,344
Money.
METALLIC.
Gold bullion .
Silver bullion .
Gold coin .
Silver dollars .
Subsidiary silver coin
Total metallic .
PAPER.
Legal-tender notes (old) .
Legal-tender notes (act July 14, 1890).
National bank notes .
Total notes.
Gold certificates..
Silver certificates.
Total certificates.
Grand total .
1 Includes $80,479,000 gold clearing-house certificates.
2 Includes $11,975,697 of their own, held by different national banks.
Estimated stock of gold arid silver in the United States and the amount per capita at the close
of each fiscal year since 1873.
Total stock of coin and bul¬
lion.
Per capita.
Fiscal year ended June JO —
Population.
1873 .
1874 .
1875 .
1876 .
1877 .
1878 .
1879 .
1880 .
1881... -v
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
1889 .
1890 .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898 .
1899 .
1900 .
1901 .
1902 _
1903 _
1904 _
1905 _
1906.. ..
1907.. ..
1908.. ..
1909.. ..
1910.. ..
1911.. ..
1912.. ..
Gold.
Silver.
Gold.
Silver.
Total
metallic.
41,677,000
42,796,000
43,951,000
45,137,000
46,353,000
47,598.000
48,866,000
50,155,783
51,316,000
52, 495, 000
53,693,000
54,911,000
56,148,000
57,404,000
58,680.000
59,974,000
61,289,000
62.622,250
63,975,000
65,520.000
66,946,000
6S, 397, 000
69,878,000
71,390,000
72,937,000
74,522,000
76,148,000
76,891,000
77,754,000
79,117,000
80,847,000
81,867,000
83,259,000
84,662,000
86,074,000
87,496.000
88,926,000
90,363.000
93,983*000
95,656.000
$135,000,000
147,379,493
121,134.906
130.056,907
167,501,472
213,199,977
245,741,837
351,841,206
478,484,538
506,757,715
542,732,063
545,500.797
588,697.036
590,774,461
6.4.520.335
705,818,855
680,063.505
695,563.029
646.582,852
664.275.335
597,697,685
627/293,201
636,229.825
599,597,964
696,270,542
861,514,780
962,865.505
1.034, 439,264
1,124,652,818
1,192,395.607
1.249,552,756
1,327.672,672
1.357,881,186
1,472,995,209
1.466,056,632
1.615,140,575
1,640, 567, 131
1,635,424.513
1,753,134,114
1,812,856.241
$6. 149,305
10.355,478
19,367,995
36,415,992
56,464,427
88,047,907
117,526.341
148,522,678
175,384, 144
203,217,124
233,007.985
255, 568, 142
283.478, 788
312,252,844
352,993.566
386,611,108
420, 548.929
463.211.919
522,277,740
570,313,544
615.861.4S4
624,347,757
625,854,949
628,728,071
634,509,781
637.672.743
639.286.743
647,371,030
661,205.403
670, 540, 105
677.448.933
682.383.277
686.401.168
657. 958. 920
705,330,224
723,594,595
733,250, 073
727,078,304
732.002,448
741,184.095
$3.23
$0. 15
3.44
.24
2.75
.44
2.88
.81
3.61
1.21
4.47
1.85
5.02
2.40
7.01
2.%
9.32
3.41
9.65
3.87
10. 10
4.34
9.93
4.65
10. 48
5.05
10.29
5.44
11.15
6.00
11.76
6. 44
11.09
6.86
11.10
7.39
10.10
8. 16
10.15
8. 70
8.93
9.20
9. 18
9. 13
9. 10
8.97
8. 40
8.81
9.55
8. 70
11.56
8.56
12.64
8. 40
13.45
8. 42
14.47
8.50
15.07
8.48
15.45
8.38
16.22
8.33
16.31
8.24
17.40
8.12
17.03
8.20
18. 46
8.27
18. 45
8.25
18.10
8.05
18.65
7.79
18.95
7.75
$3.38
3.68
3.19
3.69
4.82
6.32
7.42
9.97
12.73
13.52
14.44
14.58
15.53
15.73
17. 15
18.20
17.95
18. 49
18.26
18.85
18. 13
18.31
18.07
17.21
18.25
20. 12
21.04
21.87
22.97
23.55
23.83
24.55
24.55
25.52
25.23
26.73
26. 70
26. 15
26.44
26.70
OPERATIONS OF THE MINT SERVICE.
65
STANDARD SILV ER DOLLARS USED IN SUBSIDIARY SILVER COINAGE.
Theie voie purchased as bullion and melted at the mints and
assay offices 1,024 mutilated silver dollars during the fiscal year 1912,
which were used in the manufacture of subsidiary silver coin.
The following have been used since 1883:
Fiscal years.
Amount.
Fiscal years.
Amount.
Fiscal years.
Amount.
Fiscal years. Amount.
1883 .
$621
1891 .
$10,800
42,881
10,500
15,055
18,580
2,034
1,898
1,365
1899..
$1,734
1,341
1,786
1.893
1,777
1.304
2.298
909
1907
SI, 548
1,170
1,293
961
1,320
1.024
1884 .
1892 .
1900 .
1908
1885 .
1,850
1893 .
1901....
1886 .
1894 .
1902 .
min
1887 .
8,292
14,055
31,042
11,977
1895 .
1903
1911
1888 .
1896 .
1904 .
1912
1889 .
1897 .
1905
Total....
1890 .
1898 .
1906. . .
191,308
RECOINAGE OF UNCURRENT UNITED STATES COIN.
The table following shows the face value of abraded subsidiary
coin transferred and purchased for recoinage, the amount of new
coin made therefrom, and the loss since 1891 :
Fiscal years.
Face value.
Value of new
coin produced.
Loss.
1891 .
1892 .
$910,046.69
7,118,602.78
$861,680.41
6,937,886.02
$48,366.28
180,716. 76
1S93 .
7,618, 198.25
7,381.289.58
236.908. 67
1894 . .
7,184,472.17
6,924,753.05
259,719. 12
1895 . .
4,361,761.36
4,627.141.46
4, 161, 820. 73
199. 940. 63
1896 .
4,377,258.40
249,883.06
1897 .
3,197,998.50
6. 109. 772. 32
3,048,861.64
149.136.86
1898. .
5,820, 159.16
289,613.16
1899. .
8,584,304.26
8,098,485. 18
485,819.08
1900. .
5,261,070.35
4,950,088.96
310,981.39
1901 . .
3,832.280.69
3,613,021.59
219, 259. 10
1902 .
3,333,437.06
3,141,548.04
191,889.02
1903 .
3.008, 747. 98
2,829,890.71
178,857.27
1904. .
2,828.384.90
2,656, 104.21
172,280.69
1905 .
1,964.476.11
1,839,219.24
125,256. 87
1900 .
1,414,963.90
1,142.184.00
1,322,834.27
92, 129.63
1907 .
1,064,826.39
77,357.61
1908 .
1,162,982.06
977,321.23
1,086,691.94
76,290. 12
1909 .
912,300.40
65. 020. 83
1910 .
814,361.57
758,695. 55
55, 666. 02
1911 .
583,538.44
544, 539. 09
38,999.35
1912 .
678, 457. 94
634.101.94
44.356.00
Total .
76,714,504.02
72,966,056.50
3,748,447.52
The loss on the recoinage of $3,524,820 in worn and uncurrent gold
coins was $28,050.61 and the net loss on the recoinage of $678,457.94
in worn and uncurrent silver coins was $44,356.
The Treasury was reimbursed the following losses for uncurrent
coin transferred during the fiscal year 1912 for recoinage from the
appropriation for that purpose:
Uncurrent gold coins . $4,848.09
Uncurrent silver coins . 44. 321 . 70
Uncurrent minor coins . 9, 184. 49
Total . 58.354.28
UNITED STATES GOLD COIN IN CANADA.
The holdings of United States gold coin in the treasury of the
Dominion of Canada on December 31, 1911, was $93,507,764.
The holdings of United States gold coin of the charter banks
(23 in number) on the same date aggregated $21,330,458.
The total amount of United States gold coin in Canadian reserves
on the foregoing date was therefore $1 14,838,222.
66
REPORT OF THE DIRECTOR OF THE MINT.
Monetary systems and approximate stocks of money , in the aggregate and
Countries.
Monetary
standard.
Monetary unit.
United States .
Gold....
Dollar. . . .
Austria-Hungary..
Crown _
Belgium . "...
Franc
British Empire:
Australia .
_ do...
Pound sterling.. ..
Dollar
Canada .
United King¬
dom.
India .
- do _
_ do...
Pound sterling....
Pound sterling and
rupee.
Pound sterling....
Dollar .
South Africa. ..
_ do....
Straits Settle-
- do....
ments.*
Bulgaria .
Lev
2 Cuba .
Peseta
3 Denmark .
Crown
4 Egypt .
Piaster
5 Finland .
Markkaa
6 France .
Franc
7 Germany .
....do..!.
Mark
8 Greece . .* .
Drachma
9 Haiti .
Gourde
0 Italy .
Lira
1 Japan .
Yen
2 Mexico .
Peso
!3 Netherlands .
_ do _
Florin
14 Norway .
Crown
!5 Portugal .
....do..,.
Milreis
!6 Rou mania .
- do....
Lei .
57 Russia .
Ruble
58 Servia .
Dinar
59 Siam .
Tical
K) South , American
States:
11 Argentina .
Peso.
12 Bolivia .
....do....
Boliviano
53 Brazil .
- do....
Milreis .
54 Chile .
Peso
35 Colombia .
Dollar.
36 Ecuador .
Sucre.
37 Guiana —
38 British .
_ do...
Pound sterling....
Florin..
39 Dutch .
_ do _
40 French .
Franc. .
41 Paraguay .
....do....
Peso ....
42 Peru .
- do....
Sol .
43 Uruguay .
_ do _
Peso .
44 Venezuela .
Bolivar
45 Spain .
Peseta
46 Sweden .
- do....
Crown .
47 Switzerland .
_ do....
Franc .
48 Turkey .
Piaster
49 Central American
Silver®..
Peso .
States.
Total .
1
Population.
Thousands.
94,800
49,400
7,300
4.400
6,200
45,000
295,000
7.800
1,600
4,000
2,100
2,700
11.300
2.900
39.300
64.900
2,600
1,500
33.900
52,200
15,000
5.900
2.400
5.400
6.800
160,100
2,800
7,000
7,000
2.300
20,500
3.500
4.300
1.500
300
100
100
800
4.500
1,100
2,600
19,700
5,400
3.300
24,000
5.300
Stock of gold.
In banks
and publi<
treasuries,
1,040,600
207,800
138,200
1 375,000
* 44, 600
50,400
6,800
7,700
19,800
8,200
6,900
635,000
« 205/T00
2.500
1,300
288,500
117,000
31.200
56,400
16.200
6.500
30,600
611,700
6,500
100
248,300
7,800
116,500
500
3.300
100
200
100
15,200
8.300
15,200
600
74.900
22,800
31,000
14.900
1.300
5,167,600
„ In circula¬
tion.
Total.
. Thousands
» 369,800
i 90,600
. Thousands.
1,799 ,600
356,300
14,600
222,400
335,800
i 710,800
15,000
65,400
42,000
38,300
4 182, 700
10,600
^ 1,200,000
18,500
174,500
3,700
565,000
1,900
2,100
4.400
3.400
16,900
133,900
19,200
4,600
8,000
2,100
334,600
75,600
20,800
14,500
32,700
946,300
2,100
5,400
3,900
12,200
2,500
138,200
3,200
34,700
127,500
100
3,100
213,100
26,000
65,700
142,400
1,400
is available.
~ luiurmauon is available.
1 Estimates for the United Kingdom prior to that f nr loin / _ ,
MOfiOOfiOOtot bullion in the Bank of England; also $12,200,000 gold belonging^ In^fZ-ltandard
* This is the amount in the currency reserves. Fred J iitinmn
estimated the active rupee circulation at 2,040,000 000 accountant general of India, in 1908
> Includes Straits Settlements, the Malay ’states/ ’and iXfre ‘ Sl,ver coln at 140,000,000 rupees ’
4 .Tins estimate is based upon a calculation made by Messrs1 P Am„v ^ ^
estimated the stock of gold In the country at from 33 0M OX) to 41 anc*B- Michel ^ 1908, who
of these figures was adopted in this table last ynr Sfccethci? pounds. The mean
gold into Egypt to Dec. 31, 1911, have amounted to 928 mm btrt£?«£ WaS ma^e th© net imports^
ChBnge " ‘he tfto^ha^bw^nMSe^^k*®
Th^coin^ o^goW^'since'the'^^tablLhtuent'of ^h™?mpire^hLs rero!™' n^0nna*ion “ tu other holdings *
tl1* fioffcmiversionrvSue.’ ^ the" ha* a“ 38S&£Z2SS& to«*WS?S
» This amount has been reduced to a gold basis- Mint t. inn
* Except Costa Kica and British Honduras (goldJtandwdToSS)!"31 ‘ Uni,ed States dollar.
OPERATIONS OF THE MINT SERVICE
67
per capita , in the principal countries of the world , Dec. SI, 1911.
Stock of silver.
Uncovered
paper.
Per capita.
1
Full tender.
Limited
tender.
Total.
Gold.
Silver.
Paper.
Total.
Thousands.
Thousands.
Thousands.
Thousands.
508,300
167,000
735,900
764,500
$18.98
$7.76
$8.07
$34. 81
Nil.
122,900
122,900
197,600
7.21
2.49
4.00
13.70
8,700
2,400
11,100
139,000
5.00
1.52
19.04
25.56
Nil.
10,000
10,000
50. 54
2.27
52. 81
Nil.
7,700
7,700
79,100
22.29
1.24
12.76
36.29
Nil.
116,800
116,800
115,200
15.80
2.59
2.56
20.95
97,400
45,000
142,400
45,400
.14
.48
.16
.78
Nil.
20,000
20,000
8. 38
2.56
10. 94
Nil.
19', 000
19,000
7,500
4.25
11.88
4.68
20.81
Nil.
4,800
4,800
9,900
1.93
1.20
2.47
5.60
Nil.
5,000
5,000
20.00
2.38
22.38
Nil.
7^900
7', 900
17,300
14. 19
2.92
6.41
23.52
Nil.
14,300
14,300
6,600
16.17
1.26
.58
18.01
Nil.
500
500
14,900
3.66
.17
5.13
8.96
347,400
63,700
411,100
245,900
30.53
10. 46
6.26
47.25
Nil.
253,600
253,600
276,100
3.16
3.90
4.24
11.30
Nil.
3,000
3,000
27,600
1.69
1.15
10.62
13.46
1,000
1,500
2,500
8,200
2.26
1.67
5.47
9.40
22,700
1,400
24,100
182,300
8.51
.71
5.38
14.60
Nil.
64,200
64,200
101,700
2.57
1.23
1.95
5.55
52,000
4,000
56,000
51,200
2.08
3.73
3.41
9.22
Nil.
29,000
29,000
64,700
12.81
4.92
10.97
28.70
Nil.
3,700
3,700
8,700
8.67
1.54
3.62
13.83
Nil.
33,100
33,100
69,900
2.69
6.13
12.94
21.76
Nil.
12,600
12,600
43,200
4.81
1.85
6.35
13.01
Nil
78,800
78,800
5.91
.49
6. 40
Nil!
L300
1,300
4,900
2.32
.46
1.75
4.53
Nil.
52,200
52,200
2,100
.01
7.46
.30
7.77
Nil.
9,400
9,400
7 692,200
35.47
1.34
98.89
135.70
Nil.
700
700
2,000
3.39
.30
.87
4.56
Nil.
25,000
25,000
7 77,900
5,68
1.22
3.80
10. 70
Nil.
8,500
8,500
19,000
.14
2.43
5.43
8.00
Nil.
8 10,000
2.33
2.33
Nil.
1,300
1,300
1,700
3.60
.87
1.13
5.60
Nil.
400
400
100
.33
1.34
.33
2.00
Nil.
300
300
300
2.00
3.00
3.00
8.00
Nil.
100
100
600
1.00
1.00
6.00
8.00
Nil.
42,900
19.00
53.63
72.63
Nil.
2,400
2,400
2.71
.53
3.24
Nil.
4,300
4,300
8,000
13.82
3.90
7.28
25.00
Nil.
10,800
10,800
800
1.19
4.15
.31
5.65
Nil.
256,800
256,800
76,000
10.82
13.04
3.85
27.71
Nil.
8,600
8,600
34,700
4.81
1.59
6.43
12.83
Nil.
13,500
13,500
27,900
19.91
4.09
8. 45
32.45
Nil.
26,400
26,400
5.93
1.10
7.03
Nil.
•
9,200
9,200
89,900
.26
1.74
16.96
18.96
1,097,500
1,523,700
2,621,200
3,567,500
. i
.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
68 REPORT OF THE DIRECTOR OF THE MINT.
MONETARY STOCKS OF GOLD.
The foregoing table is by no means complete or satisfactory, but all
of the figures given have some reputable authority behind them, and
in most cases are from official sources. No official information was
received from Germany last year, but the figures for the Imperial
Bank are from its published statements. No authoritative estimate
has been made for a number of years of the stock of gold in Germany
outside of the Imperial Bank and the waY fund. The coinage of
imperial gold since the first act authorizing coinage under the Empire
in 1871 to the close of 1910, less recoinage, amounted to 4,726,988,650
marks, or approximately $1,125,000,000, but there has been a con¬
siderable reduction at the hands of manufacturing jewelers and of
course considerable exportation. It is to be said, however, of expor¬
tation that ordinarily coins passing from one European country to
another are not melted, but held in the reserves of tne banks of issue
until fluctuations of exchange return them to the country of origin.
There is good reason for this in the fact that melting would always
involve a loss, while the coins may be returned at their face value.
In 1887 Mr. Edward Atkinson, of Boston, having been appointed
by the President of the United States to make an inquiry into mone¬
tary conditions abroad, made a report in which he stated that the
net gold coinage under the Empire to the close of 1885 had amounted
to 1,928,890,830 marks, and that competent authorities estimated
that of this 1,550,000,000 marks, or about $369,000,000 remained in
the country. As the net coinage to the end of 1910 is about two and
one-half times the coinage to the end of 1885, it would appear that the
total stock of German gold coin remaining in the country at the close
of 1910 might be reasonably estimated at not less than $800,000,000.
The changes in the table of gold holdings of the principal institu¬
tions of issue, including for the United States the Treasury and national
banks, from the table of last year are as given below:
Gold in instit utions of issue.
Country. Gain.
Loss.
Country.
Gain.
Loss.
TTnito,! fttnins _ *98.500.000
Rou mania .
$10,900,000
$22,400,000
Austria-Hungary .
$5,900,000
Russia .
Belgium .
12,200,000
23,300,000
30,000,000
60,800,000
31,400,000
4,600,000
1,600,000
100,000
Servia .
1,400,000
3,900,000
5,300,000
18, 000, (XX)
900,000
100, 000
14,900,000
Australia .
Aigentina .
Canada .
Bolivia .
Groat Britain .
Brazil .
India .
Ecuador .
Straits Settlements .
Guiana— Dutch _
Bulgaria .
Paraguay .
Denmark .
. i
Uruguay .
300,000
Egypt .
100,000
Venezuela .
200,000
Finland .
2,700,000
2, 100,000
19,800,000
Spain .
31,900,000
France .
Sweden .
i, 200, 000
1,000,000
Germany .
Switzerland. . . .
Greece .
17, 200,000
Turkey. . . .
600,000
200,000
Italy .
Japan .
24,400,000
6,200,000
2,000,000
6,200,000
7,000,000
i
Central American States..
Total
Mexico .
391,300,000
SO, 700, 000
80,700,000
Netherlands .
Norway .
Net gain .
Portugal .
2,100,000
310,600,000
THE MOVEMENT TO INDIA.
The persistent rbsorption of gold by India which began to occasion
comment in the early part of 1911 has become decidedly the largest
OPERATIONS OP THE MINT SERVICE.
69
factor in the question of future banking reserves. The annual pro¬
duction in the world has increased since 1908 from approximately
$442,500,000 in that year to perhaps $470,000,000 in 1912, or some¬
what less than $30,000,000. The economists of the world have been
busy tracing the effects of these increasing supplies upon prices and
forecasting the influence of future supplies. Meanwhile the net
imports of gold by India have risen from $56,346,699 during the Brit¬
ish fiscal year ended March 30, 1908, to $134,409,087 during the fiscal
year ended March 30, 1912. For five years they have been as follows:
1907- 8 . $56,340,099
1908- 9 . 14,130,583
1909- 10 . 81,017,584
1910- 11., . $90,270,816
1911- 12 . 134,409,087
At this writing it seems probable that the imports of 1912-13 will
equal and possibly exceed those of the preceding year.
The ability of India to take this amount of gold is explained by its
increasing favorable balance in the international trade, as appears by
the following statement of the net merchandise movement the last
five years:
1907- 8 . $132,840,889
1908- 9 . 79,048,235
1909- 10 . 211,919,211
1910- 11 . $248,008,313
1911- 12 . 272,305,901
The figures given elsewhere for the movement of gold and silver to
India in past years show that the importations of silver are not declin¬
ing but that the increasing balances due that country have been taken
of late in gold. This absorption of gold, amounting last year to
approximately 29 per cent of the world’s output, must be regarded as
of great importance, because the history of India shows that that
country seldom gives up any of the precious metals which enter into
its possession. Its holdings of gold and silver steadily increase and
to a great extent the additions to its stock are retired from monetary
use and from the world’s available supply.
The Government of India last year instituted a formal inquiry
directed to all its treasuiy offices asking for information concerning
the use of gold in current trade. All replies agreed that its use was
increasing, but there is no indication of hoarding in any other sense
than that the mass of the people prefer to use coin rather than paper
money and have made but little progress in the use of banks or credit
instruments. Two of the provincial reports will serve as examples of
them all, and they are here given: x , ,
Ambala. — “Gold is now veiy largely m demand not only by banks,
firms and contractors, but also by the public in general. Indian
firms in this district make very large demands for gold in payment of
bills checks, etc., and also in exchange for notes, and from inquiries
I have made, it appears that their demands are to supply the wants
of the general public and not for any particular purpose. The use of
o-old among all classes may now be considered general. The agent of
the Agricultural Bank takes laree quantities of gold for the use of the
agricultural community. Land revenue payments include very fair
amount of sovereigns; the post-office payments into the treasury
include a large number of govereigns.”
Shdhpur.—11 About three-fifths of the gold issued from the treasury
is actually in circulation as currency. The receipts come in chiefly
•with the land revenue both at Talisil and Sadar treasuries and also
with payments for the purchase of proprietary rights. Excise and
70
REPORT OF THE DIRECTOR OF THE MINT.
opium contractors make payments in gold and stamp. Municipal
and post-office receipts contain gold to some extent; generally speak¬
ing, gold forms part of all tfie payments that are made at the treasury.
Gold is demanded by the people in payments of every sort and is
issued freely from the treasury if in stock. Gold is issued in exchange
for notes and rupees, but there are very few instances in which gold
has been received and silver or notes issued in exchange. Crops are
paid for partly in gold; out of the gold thus paid a portion of it is
tendered m the bazaars when some domestic necessities arise and the
balance (if any) after payments of government dues, is hoarded.”
PRODUCTION AND DISTRIBUTION.
The production of gold has been steadily increasing since about
1890, and during the last 10 years the reserves of the principal bank¬
ing institutions of the world have been largely augmented by the new
supplies. The United States has been particularly successful in
securing and holding a large share of this new gold, the gains of the
Treasury and national banks from January 1, 1900, to January 1,
1912, aggregating $825,705,052 and representing an increase of over
100 per cent.
The volume of trade and of bank credits, of private, corporate, and
public indebtedness, and the general level ol prices have all been
affected to some degree no doubt by this enlargement of bank reserves
and the stimulus thereby imparted to enterprise and industry. It
is an interesting question whether the gold supplies of the next 10 or
20 years will be sufficient to allow of further additions to banking
reserves, corresponding to those of the past and to the natural expan¬
sion of trade and industry.
The effect of the new supplies will depend not alone upon their
actual amount but upon their relative amount as compared with the
existing stock. On December 31, 1899, the gold holdings of the prin¬
cipal banks of issue of Europe, Australasia, South Africa, and Canada,
including the United States Treasury, were $2,367,201,422 (see report
of this bureau for 1911, p. 58), and on December 31, 1911, these insti¬
tutions held approximately $4,570,000,000, an increase of about
$2,200,000,000, or nearly 100 per cent in 12 years. But it is apparent
that there will have to be a much larger actual gain in the future to
make the same percentage of gain.
The importations of India last year plus the world’s industrial con¬
sumption equaled fully one-half of the world’s production leaving
perhaps $210,000,000 or $220,000,000 for monetary use. At that
rate bank reserves would scarcely gain more than 50 per cent in the
next 10 years.
It can not be safelv predicted on the strength of present conditions
in the principal gold fields of the world that the production of gold
will materially increase in the next 10 years.
On the other hand, it must be recognized that the increase in <mld
supplies during the last 20 yearn has been at an abnormally high rate
and it is not probable that any harmful results will come from a slow¬
ing down m the rate of accumulation. The fact that bank credits
have kept pace with bank reserves and even shown a tendencv to
overrun them, does not prove an insufficient supply of monev Never
m the history of the world was the supply of money equal to the de¬
mand, excepting m periods of temporary depression and reaction
OPERATIONS OF THE MINT SERVICE.
71
wheir tfie business community was controlled by a spirit of caution
instead of the normal spirit of enterprise. The opportunities for
profit in exploiting the latent resources of the world, in developing
the multitude of new inventions and new ideas that are forever com¬
ing forward, create a practically unlimited demand for capital.
These opportunities constantly bid against each other in the invest¬
ment market, invite the use of credit, and will absorb any amount of
money. The effect of increasing supplies of gold is to stimulate the
demand for labor and commodities until wages and prices are forced
to higher levels and the equilibrium thus restored.
UNITED STATES GOLD COIN IMPORTED AND MELTED BY VARIOUS COUN¬
TRIES DURING THE CALENDAR YEAR 1911.
The following table shows the amount of United States^ gold coin
imported by various countries and the value of the United States gold
coin melted at their mints:
Countries.
Import of
United States
gold coin.
United States
gold coin
melted.
$160,000
1,000
250,575
22,097,630
82,000
$160,000
7, 120
82,000
19,958,355
290
290
22,591,505
20,207,765
The amount of gold and silver in the form of old plate, jewelry, and
other old material returned from use in the industrial arts to monetaiy
use by being deposited at the mint for coinage during the calendar
year 1911 is shown in the following table:
Coun tries.
Cold.
Silver.
Fine ounces.
454,480
6,305
878
927
81
Fine ounces.
2,116,671
5 218
U nitea . .
’253
Canada .
462,671
2, 122, 142
72
REPORT OF THE DIRECTOR OF THE MINT,
VALUES OF FOREIGN COINS.
% •
The following values calculated by the Director of the Mint were
proclaimed by the Secretary of the Treasury under, the provisions of
section 25 of the act of August 27, 1894, as the basis for estimating
the value of foreign merchandise exported to the United States during
the quarter beginning October 1, 1912:
Values of foreign coins.
Country.
Argentine Republic .
Austria-Hungary.
Belgium . .
Bolivia.
Brazil. .
.do.
British Colonies in Aus¬
tralasia and Alriea.
Canada .
Central American
States:
Costa Rica .
British Honduras.
Guatemala _
Honduras . ilsilver
Nicaragua . ffcmer...
Salvador .
Legal
standard.
Gold.
..do _
Gold and
silver.
Gold....
..do _
.do _
do
...do _
jsil
Shile.
Gold.
Monetary unit.
Peso.
Crown.
Franc. .
Boliviano.
Milreis. ...
Pound sterling.
Dollar .
Colon . .
Dollar .
Value
in
terms
of
United
States
money.
Peso.
SO. 9115
.203
.193
.389
.540
4.8605
1.000
.405
1. 000
.451
China .
.dc.
Silver....
Colombia .
Denmark .
Ecuador. .
Egypt....
Finland.
France..
German Empire.
Great Britain....
Greece .
Gold.
Tael.
.do.
.do.
.do.
..do .
Gold and
silver.
Gold .
...do _
Gold and
silver.
Dollar
Dollar.
Amoy .
Canton .
Cheefoo _
Chin Kiang.. .
Fuchau .
H a i k w a n
(customs).
Hankow .
Kiaochow. . . .
Nankin .
Niuchwang ..
Ningpo .
Peking .
Shanghai .
Swatow .
Takau .
Tientsin .
Yuan .
BrmgShonK;::;
Mexican .
Crown .
Sucre .
Pound (100 piasters) . .
Mark . .
Franc.
Mark .
Pound sterling.
Drachma .
. 365
.740
.738
.708
.723
. 685
.753
.692
.717
.732
.694
.712
.721
.676
.684
.745
.717
.539
.487
.487
.490
1.000
.2as
. 4X7
4.943
.193
.193
.238
4.8665
.193
Remarks.1
Currency: Depreciated paper, con¬
vertible at 44 per cent of face value.
Member of Latin Union; gold is the
actual standard.
12 h bolivianos equal 1 pound sterling.
Currency: Government paper, con¬
vertible at $0.3244 to the milreis.
Guatemala: Currency, inconvertible
paper, exchange ‘rate 16 to 18
pesos =$1. Honduras: Currency,
bank notes, exchange rate March
20, 1912, $0,415. Nicaragua: Cur¬
rency, inconvertible paper, ex¬
change rate 16J to 17 pesos=$l.
Salvador: Currency, convertible
into silver on demand.
Currency: Inconvertible paper; ex¬
change rate, approximately,
$0.2230.
Currency: Inconvertible paper; ex¬
change rate, approximately, $102
paper to $1 gold.
The actual standard is the British
pound sterling, which is legal ten¬
der for 97J piasters.
Member of Latin Union; gold is the
actual standard.
Member of Latin Union; gold is the
actual standard.
indication of the
are not to take the
OPERATIONS OF THE MINT SERVICE
I alues of foreign coins — Continued.
73
!
Countr^- 'stiSSJd.
Monetary unit.
Value
in
terms
of
United
States
money.
Haiti .
Gold .
Gourde ....
10.965
.3244$
.193
.498
India (British) . !.
Italv .
. .do .
Rupee .
Gold and
Lira .
-
Japan . st .
silver.
Gold .
Yen .
Liberia .
...do .
Dollar .
1.000
Mexico .
. . .do .
Peso .
.49S
Netherlands .
. . .do .
Florin .
.402
N ewfoundiand .
...do .
Dollar .
1.014
Norway .
. . .do .
Crown .
.268
Panama . . .
. . .do .
Balboa .
1.000
Persia. .
Gold and
Kran .
.1704
silver.
Peru. . . .
Gold.. .
Libra .
4.8665
Philippine Islands .
.do .
Peso .
.500
Portugal. . .
.do .
Miheis .
1.080
Roumania .
Russia
... do .....
Leu .
.193
. . .do .
Ruble . .\ .
.515
Santo Domingo .
Servia
do
Dollar .
1.000
.do””.
Dinar .
.193
Siam
.do .
Tical .
.3708
Spain
Gold and
Peseta .
.193
silver.
Straits Settlements
Gold
Dollar .
.5677
Sweden
do _
. Crown .
.268
S wi tifirhnd
do
. Franc .
.193
Turkev
.do. _ _
. Piaster .
.044
Uruguay .
...do _
do _
Peso .
1.034
Bolivar .
.193
—
Remarks.
Currency: Inconvertible paper: ex¬
change rate, approximately,
SO. 2941.
15 rupees equal 1 pound sterling.
Member of Latin Union; gold is the
actual standard.
Currency: Depreciated silver token
coins. Customs duties are col¬
lected in gold.
This is the value of the gold kran.
Currency is silver circulating
above its metallic value: exchange
value of silver kran, approximate¬
ly. $0.Q8S5.
Currency: Inconvertible paper; ex¬
change rate, approximately,
$0,986.
Valuation is for the gold peseta;
currency is silver circulating
above its metallic value; exchange
value, approximately, $0.1794.
Member of Latin Union; gold is the
actual standard.
100 piasters equal to the Turkish £.
Changes in the value of foreign coins during 1912.
Countries.
Monetary unit.
Central American States.
China . . .
Do .
Do .
# Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do.. .
Do .
India (British) .
Silver peso .
Silver tael, Amoy .
Silver tael. Canton .
Silver lael, Chin Kiang .
Silver tael, Cheefoo .
Silver tael, Fuchau .
Silver tael, Haik wan (customs)
Silver tael, Hankow .
Silver tael, Kiaoehow .
Silver tael, Nankin .
Silver tael, Newchwang .
Silver tael, Ningpo .
Silver tael, Peking .
Silver tael, Shanghai .
Silver tael, Swatow .
Silver tael, Takau .
Silver tael, Tientsin .
Silver dollar, Y uan .
Silver dollar, Hongkong .
Silver dollar, British .
Silver dollar, Mexican .
Rupee . . .
|
Value, 1912.
Jan. 1.
Apr. 1.
July 1.
Oct. 1.
$0,400
$0,423
$0,442
$0,451
.655
.693
.725
.740
.654
.691
.723
. 73S
.640
.677
.708
.723
.627
.663
.693
.708
.606
.641
.670
.685
.667
.706
.737
.753
.613
.649
.67S
.692
.635
.672
.702
.717
.649
.686
.717
.732
.615
.650
.680
.694
.630
.667
.697
.712
.639
.676
.706
.721
.599
.633
.662
. 676
.605
.641
.669
.684
.660
.698
.729
.745
.635
.672
.702
.717
.505
.528
.539
.431
.456
.477
*487
.431
.456
.477
.487
.434
.459
.480
.490
.3244$
. 3244$
74
REPORT OF THE DIRECTOR OF THE MINT.
MONETARY LEGISLATION.
Public, No. 299. Chapter 350.— An Act Making appropriations for the legislative,
[H. R. 26371.] executive, and judicial expenses of the Government for the fiscal year
ending June thirtieth, nineteen hundred and thirteen, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the United
States of America in Congress assembled, That the following sums be,
and the same are hereby, appropriated, out of any money in the Treas¬
ury not otherwise appropriated, in full compensation for the service of
the fiscal year ending June thirtieth, nineteen hundred and thirteen,
for the objects hereinafter expressed, namely*
Legislative.
TREASURY DEPARTMENT.
* * *
MINTS AND ASSAY OFFICES.
Coiner, melter,
and refiner.
Positions abol-
i s h e d . R. S.,
sees. 3490-3498,
3501, 3504, 3508,
3509, 3530, 3534,
3538-3542, 3550,
3551, 3554, 3550,
pp. G94-G9G, 099-
/02. Amended.
Employees to
be appointed by
Secretary.
The position of coiner, which has heretofore existed in each of the
coinage mints, and the position of melter and refiner, which has here¬
tofore existed in each of the coinage mints and in the United States
assay office at New York, are hereby abolished, to take effect on and
alter July first, nineteen hundred and twelve, and on and after that
date the duties and responsibilities heretofore imposed by law on the
officers holding said positions in each of said mints and the assay
office shall devolve upon .the superintendents of said institutions;
it i assistants and employees of the mints and assay offices of the
United l tates shall, from and after July first, nineteen hundred and
twelve, be appointed by the Secretary of the Treasury.
*******
oc^c'^* ^hat until otherwise provided by law, the regular annual
T In i Qf * appropriations for expenses of the Government of the
chqrcroH j f Pr0Pared and submitted to Congress, by those
the form nnrl 8Uck Preparation and submission, only in
and at no other lfmo ™0 ^ re<;,uired by law’ and in 110 other fonn
are repealed a ^ ^a"S or Par*:s °f laws inconsistent with this Act
Approved, August 23, 1912.
S8My’offlS°ofl!tKe’Eted<>Sl^f‘g “Potions of the mints and
1912, is respectfully sHbm1tte d °r ‘he *SCal -T6ar ended June 3°'
Geo.
Hon. Pranklin MacVeagh,
Secretary of the Treasury.
E. Roberts,
Director of the Mint.
APPENDIX TO REPORT ON
THE OPERATIONS OF THE
MINT SERVICE.
76
REPORT OF THE DIRECTOR OF THE MINT.
No. 1. — Domestic production deposits and purchases of gold
1
2
3
4
5
6
7
s
9
10
11
12
13
14
15
16
1
IS
19
20
21
Location and description of deposits.
Philadelphia.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia . .
Idaho .
Michigan .
Montana . .
Nevada .
New Mexico .
North Carolina .
Oklahoma .
Oregon .
South Carolina .
South Dakota .
Utah .
Virginia. .
Washington .
Wyoming . .
_ ( Porto Rico .
22 ! Philippines .
23 ! Other .
24 Total .
25 Domestic bullion refinery bars .
26 Domestic bullion refined .
27
2S
29
30
31
32
33
34
35
36
37
3S
39
40
41
42
43
44
Total .
Domestic coin purchased .
Domestic coin transferred .
Foreign bullion unrefined .
Foreign bullion refined .
Foreign coin .
Jewelers’ bars, etc . - .
Deposit melting-room grains and sweeps
Deposit melting-room grains and swoops.
New York.
Surplus bullion .
Gains on bullion purchased .
Proof bullion. .
Total.
fits:
Redej]
Unparted bars.
Mint bars.
Stand, ozs.
1 San Fran¬
cisco.
Denver.
New York.
Stand, ozs.
Stand, ozs.
Stand, ozs.
29.037
1 93.381.917
1 233.005.701
740. 575
48. 606
196.138.537
2,004. 161
114.377
138.751
1 167. sio
626.839
66.643
2, 132. 165,
*5*115*31!
3. 182
63.316. 174
1,458.146
16.2*4
3.843
12.655
64. 743
4,226.896,
7.085
ioo'359
1SS.771
271,435. 529
3,883.216
38.642
530.507
182.456
5.057
18.307,
17.733.143
""’m 799
78.299
7.901
40. 746
1.274.520
2.599
5.771.397
9.701. 192
102.588
2S6.97S
10.090. 758
17.459. 187
130.575.725
2. 57a 474
52.321
73,163.290
160.055
259.402
727.055
577,876.7c
475.090. 497
463.944.434
147,799.736
2.742,395. 197
S63.957
45,105.084
95,858.210
11,213.351
115.536
235.058.267
459,864.084
53, S94. 973
Total . 513.759.057 52.575.36Si 939,711.330 42,854.094
523.974
‘i6i.*250j
2. $86. 236. 559
52,575.368
1,086,834.667
12.479
204.009
3.935
5.526.529
164.854
.31.113
30.080
20,627.414
65.935.717
1.565,264.229
1.651, S27.360
37,186.766
172, 106. 145
774.908.871
19.796.344
225,583. 089
287.538
31.650
‘i6L250
1.092.939. 373
939.711.330
10. 192!
*i67.'500
2,881,813.805
281.555
42,572.539
Grand total . 748.817.324 2.948,811.927 2.032,650.703 2,924.667.899
77
OPERATIONS OF THE MINT SERVICE.
by freight duritig the fiscal year ended June SO, 1912.
New
Orleans.
Carson.
Boise.
Helena.
Charlotte.
Dead wood.
Seattle.
Salt Lake
City.
Total.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand . ozs.
Stand, ozs.
791.366
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, n; t.
820.403
425,845.544
94,318.306
234, S16. 1SS
196,704.559
1,063.819
44,790.911
.554
97,291.710
410,535.039
23,074.506
6,808.084
239. 799
14,068. 184
764.540
408,625.013
28,077.876
64.7+3
5,553.110
1,274.520
31.113
5,801.477
2.599
6.736
398.968
246,238. 170
1.258
52. 234
30.208
60.55S
13.771
3.438
1,018.304
2.735
63. 332
13.125
873.004
37,642.637
625.442
692.333
4,574.118
45.312
1.01S
95,852.949
1,090.206
7.705
17.940
27,041.060
52,583.072
1,692.766
7,337.902
2,365.972
4.189
760.697
408,073.950
27,847.589
1,551.610
512.812
3,388.329
13.771
-f
w*
00
I
s?
46,587.950
97,390. lH
4,117.833
408,073.950
253,859.172
59,629. 163.2, 006,572. 686
. I 529, ‘.182. 739
'3.877,869.381
13.771
1,835.890
53,604.814
46,587.950
97,390. 171
4,117.833 408,073.950
.260 .
253,859.172
17.091
59,629. 163
6,414,424.806
57,375.630
130,575.725
339,962.121
784,177.585
115.S43. 748
321,028.409
846. 234
259. 402
1,292.871
15.372
430.000
71.759.824
9,268.714
2.596
1,379.768
25.112
..........
120.976
3,015.129
23.760
9.366
187.210
11.900
22.518
10.741
153.031
16.630
83.805
10.041
10.103
700.689
9.964
; .
.
i.3.448
.
.
.
. 1.924
.
"6,769.350
53,638.073
46,771.059
97,598.647
4,211.939
40S,0S4.053
312,770.962
G0,339.S16j
8,166,231.903
27.533
25.396
52. 929
460,173.172
1, OSS, 779. 606
1,548,952.778
.
..........
. .
76,769.350
53,638.073
46,771.059
97,598.647
4,211.939
40S, 084. 053
’3127823.891
60,339.816
9,715,184.681
76347° — 13 - 6
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report of the director of the mint.
No. 2 .—Domestic production , deposits and purchases of
Locution and description of
deposits.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
daho .
Michigan .
Montana .
Nevada .
New Mexico. ...
North Carolina.
Oklahoma .
Oregon .
South Carolina.
South Dakota. .
Utah .
Virginia .
Washington. .. .
Wyoming . .
Porto Rico .
Philippines .
Other .
Total .
Domestic bullion, relined bars. .
Domestic bullion, refined .
Total domestic bullion...
Domestic coin purchased .
Domestic coin transferred .
Foreign bullion, unrefined .
Foreign bullion, refined .
Foreign co in .
Jewelers* bars, etc .
Deposit, melting-room grains and
sweeps.
Deposit, melting-room grains and
sweeps. New York.
Suiplus bullion .
Gains on bullion purchased . . .
Assayers’ proof bullion .
Total deposits.
Redeposits:
Fine bars . .
Unparted bars.
Mint bars .
Philadel¬
phia.
$12,388.20
224. 82
9,461.41
9,159.80
3,550.05
7,350.38
10.31
1,642.06
39,668. 18
$3,282,569.04
1,737,337.99
4,334,989. 79
95, 168. 71
302.96
71.50
235.44
1,204.52
48.35
San Fran¬
cisco.
3,122. 16
59.20
1,177,975.33
27,128.30
78,639.92
131.81
1 ”867.14
107,374.83
Denver.
$42. 77
13,778.14
904.29
3,649,089.06
11,662.12
3,512.02
5,049,963.33
72,245.88
718.92
9,869.90
3,394.53
23,712.00
180,487.29 10,751,195.51
1,908.61 .
5,339. 13 40,270,110.47
187,735.03 51,021,305.98
324,822.08 16,073.62
2,429,315. 81
47,822.78 839,164.35
973.42
1,361,177.49
2,977. 76
4,826.08
13,526.60
4,373,177.05
Total redeposits.
Grand total .
8,555,610.88
1,002,697.18
13,931,485.11
20,220,179.85
232.16
1,783,408.56
208,620. 48
2,149.51
9,748.35
*3,’666.*66
53,883,470.85
978,146.38
9,558,308.06 978,146.38
8,838,892.96
8,631,524.36
2,749,762.53
3,795.51
73.20
102,819. 15
3,067.05
588.84
‘3, '666*66
17,483,001.49
17,483,001.49
54, 861, 617. 23 37, 816, 757. 25
New York.
$540.22
38,961.13
2,127. 94
2,581.41
1,239. 87
94.08
340.59
329,918.94
4,461.38
1,456.73
147.00
758.07
578.85
559.63
383,765.84
29,121,194.96
1,226,711.01
30,731,671.81
691,846. 81
3,201,974. 79
14,416,909.23
368,304.08
4, 196,894.68
5,349.54
189.62
2,000.00
20,333, 755. 76 53, 615, 140. 56
5,238.23
792,047.25
797,285.48
54,412,426.04
New
Orleans.
$256.20
256.20
256.20
34. 156.09
1,335,066.49
2,250. 72
56,095.42
442.06
1, 428,200.98
1,428,266.98
OPERATIONS OF THE MINT SERVICE.
gold, by value , during the Jiscal year ended June SO, 191 1.
79
Carson.
Boise.
Helena.
Char¬
lotte.
Dead-
wood.
|
Seattle.
Salt Lake
City.
Total.
$14,723.09
$15,263.31
7,922,706.97
1,754.760.84
4,368,673 24
3,659,619.71
19,791.98
833,328.33
10. 31
1,810,078.02
7,749,490. 76
429,293. 12
126.662.04
4,461. 38
261,738.60
14,224.01
7,602,326. 12
522,379.09
1,204.52
103,313 25
23,712.00
578.85
107,934.46
48.35
$125.29
$7,422.66
$4,581,174.48
$23. 40
971.79
562. 01
1,126.66
$63. 96
18,945. 19
50.87
1,178.27
244.19
16,241.93
700,337.19
11,636. 13
i2,880.61
85,099.87
20.60
1,783,310.41
20,282.90
143.35
333. 77
503, 089. 67
978,289. 71
31,493.33
i 36, 524. 06
44,018.08
77. 93
14,152.51
$7,592,073. 78
518,094.68
28,866.74
9,540.69
63,038.68
997,298.86 866,767. 73
1,811,909.89
76,610.86
7,592,073. 78
4, 722, 960. 56
1,109,379. 78
37,331.599.26
37,754,627. 93
44,251,923. 14
997,298.86
866,767. 73
1,811,909.89
76,610.86
4.84
7,592,073. 78
4,722,960. 56
318.00
1,109,379. 78
119,338, 150.33
1,067,453.60
2,429,315. 81
6,324,876.67
14,589,350. 42
2,155,232.53
5, 9?2, 601.42
15,743.88
4, 826. OS
24,053. 41
277.00
8,000.00
897,052. 75
172,441.19
48. 30
25,670.10
467.20
#
174.25
3,482.60
221.39
418.94
199.83
2,827.88
309. 37
1,559.16
186.84
13,035.52
185.37
187.96
240.46
36.54
997,917.63 870,145.44
1,815,788.13
78,361.70
7,592,261.74
5, 818, 994. 64
1,122,600. 67
151,929,881.15
512.25
472. 50
8,561,361.36
20.256.364.80
984.75
28,817.726.16
997,917.63
870, 145. 44
1,815,788.13
78,361.70
7,592,261.74
5,819,979. 39
1,122,600. 67
180,747,607. 31
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fttfe a fcsss a ssftssast.'i aas? arssg
80
report of the director of the mint,
No. 3.— Domestic production, deposits, and purchases of silver,
Location and description of deposits.
Philadelphia.
San Fran¬
cisco.
Denver.
New York.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
6.56
260.73
47.97
23.75
1.78
102.66
1.60 .
42,244.04
48,839.17
770.41
17.38
344,816.83
19.96 .
93.74
31,717.77
8. 47
697. 16
45. i3
324.44
13.73
1.59
24,939.09
925.92
82.75
36,531.44
56,864.03
5.18
20.13
817,567.79
North Carolina .
1.65
.81
2.35
8.81
39.99
6.91
3 Sout h Carolina .
. -----
316. 70
440. 23
.51
1,054.09
B Virginia .
2.04
36. 73
O / \ 1 l . . » « *
.07
1,098.31
211.53
10.43
10.76
!4 Total .
is: nnmnetio bullion rpfiuprv
34, 157.21
10,309.41
2,709,147.58
137,640.68
440,388.45
34,640. 79
334,439.95
819,058.53
83,995.43
322,548.47
lJUlllvoLlv UulllV/ll j lL/ILLlCI J l/CUO> • .
>6 Domestic bullion, refined .
949, 168. 98
rj Total domestic .
IS Domestic coin purchased .
>9 Domestic coin transferred .
2,753,614.20
2,545. 24
460,433.00
1,086,809.66
86. 30
12,027. 40
496.96
55,873.67
809,469. 19
134.57
34,276.32
1,225,002.43
156.61
JO Hawaiian coin transferred .
31 Foreign bullion, unrefined .
32 Foreign bullion, refined
92,058.57
53.68
334,315.78
.06
426,610.95
101,060.32
8,448.13
33 Foreign coin .
34 Philippine assay coins .
360.64
186. 55
6. 75
.’35 Philippine coins for recoinagc .
36 Jewelers* bars, etc .
37 Deposit melt ing-room grains and sweeps. .
38 Deposit melting-room grains and sweeps,
New York .
90,820. 70
268.86
280.44
4,437.32
252,363.45
16,580. 83
48.96
6,367.26
135.94
471,750.82
823.97
30 Surplus bullion .
5,188.08
41 Assayer’s proof silver .
55.56
42 Total .
. 3,405,005.52
1,429,482.06
1,184,808. 36
2,234,570. 34
Redeposits:
43 Fine bars . .
652,261.23
28,348.09
44 Unparted bars .
27 170 84
31,601.06
374,589.59
46 Total .
27,170.84
31,601.06
374,589. 59
680,009.32
47 Grand total .
- 3,432,176.36
1,461,083. 12
1,559,397.95
2,915,179.66
OPERATIONS OF THE MINT SERVICE
81
by weight , during the fiscal year ended June 30, 1912.
New
Orleans.
Carson.
Boise.
Helena.
Char¬
lotte.
Dead-
wood.
Seattle.
Salt Lake
City.
Total.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand. ozs.
162.57
Stand, ozs.
Stand. ozs.
Stand.ozs.
Stand, ozs.
169. 13
51,369.97
43,084. 77
49,172.52
344,856. 16
152. 48
26,223.41
31,717. 77
243.49
180,743. 12
875,347. 74
1,893. 21
39.99
5,557 65
31.86
198,848.63
3,183.28
8. 81
3,455.00
211.53
10. 43
1,109.07
.07
1.12
57.50
32,143.93
.28
17. 79
8.37
32.97
1.71
1.07
179.40
.80
.99
4.76
132.52
25,120.40
94. 17
101.20
430.60
2.53
.96
137.94
2.26
5.03
23,142.21
31,265.82
64,144.05
462. 18
3,931.34
933. 19
.25
31.05
198,529.07
1,686.92
423 56
120. 14
2,874.57
1.71
31,446.29
29,480.71
64,415.86
788.32
198,529.07
36, 198.84
25,324.42
1,817,430.09
128,945.63
4,315,304.98
1.71
31,446.29
29,480.71
64,415.86
788.32
198,529.07
36,198.84
25,324. 42
6,261,680 70
2,922. 72
506,736. 72
496.96
628,216.41
435,376. 10
8,815.68
186.55
' 252/363.45
588. 400. 96
1,400. 12
280. 44
9,625.40
257. 3S
166. 67
45,336.28
8,283.26
.10
1.346.29
18. 13
11.65
12.27
39. 68
13.21
63.67
36.50
is. 08
14. 13
746.09
5.42
639. 89
3.85
18.88
236.22
21.16
46,702.41
31,470.21
29,769.82
64,516. 13
830. 53
198,547.95
45,254.77
25,968. 16
S, 696, 926. 26
652,261.23
461,716. 18
6.60
6.60
1,113,977.41
46,702.41
31,470.21
29.769.82
64,489.20
817. 17
198,547.95
45.261.37
25,968. 16
9,810,903.67
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REPORT OF THE DIRECTOR OF THE MINT,
No. 4 .—Domestic production , deposits , and purchases of silver
Location and description of deposits.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Idaho .
Michigan .
Montana .
Nevada .
New Mexico . . .
North Carolina.
Oklahoma .
Oregon .
South Carolina.
South Dakota. .
Utah .
Virginia .
Washington _
Wyoming .
Porto Rico .
Philippines. ...
Other .
Total .
Domestic bullion, refinery bars.
Domestic bullion, refined .
Total domestic .
Domestic coin purchased .
Domestic coin transferred ...1IIIIIII'
Hawaiian coin transferred ...
Foreign bullion, unrefined. . . . . '
Foreign bullion, refined
Foreign coin .
Philippine assay coins . . . .
Philippine coins for recoinace .
Jewelers’ bars, etc. . . .
^el^g-rooin grains and sweeps: !
Dl^w Vorktmg’r0°m gFaillS and sweePs>
Surplus bullion .
Gams on bullion purchased .
Assayers’ proof silver. .
Total.
deposi
Fine bars .
Unparted bars ... .
Mint bars . . .
Total.
Grand total.
Philadelphia.
$86.28
2.21
127.73
1.99
24.83
116.63
39,462.23
10.54
867.39
1,780.44
2.05
1.01
2.92
10.96
.09
42,497.30
12,826.64
3,370,634.62
San Fran¬
cisco.
$23,436.04
52,558.68
60,764.13
56.15
1.98
31,028.42
1,152.00
836.00
2.54
45.70
1,366. 48
171,248. 12
1,180,925.63
3,425,958.56
3,166.72
572,855.97
114,536.33
448. 70
232. 10
112,996.2 1
334.51
348. 91
5,520.77
4,230,398.78
33,805.09
33,805.09
4,270,203.87
1,352, 173.75
107.37
14,964.10
618.30
69,516.23
8.40
313,982.52
20,629.34
60.92
6,454.84
1,778,515.77
39,317.03
39,317.03
1,817,832.80
Denver.
$0.42
958.52
21.62
429,010.05
403.66
102.96
45,451.26
70,748.40
15.39
394.03
547.71
263.18
547,917.20
43,098.96
416,099.47
New York.
$8.16
324.39
59.68
29.55
17.08
6.44
25.05
1,017,179.21
49.75
8.60
.61
1,311.46
12.98
13.39
1,007,115.63
167.43
42,645.50
66. 79
415, 944. 9S
.07
1,019,046.38
401,304.47
104,504.42
1,524,855.27
194.85
7,921.94
169. 13
69. 13
1,474, 100.60
466,052.37
466,052.37
1,940,152.97
125,736.01
530,775.68
10,510.89
586,944.72
1,025.16
138.24
2,780,180.82
811,522.52
35,269.79
846,792.31
3,620,973.13
OPERATIONS OF THE MINT SERVICE.
I
by subsidiary mlue, during the fiscal year ended June SO , 1912.
83
84
report of the director of the mint.
No. 5.— Mutilated and uncurrent domestic g old and silver coins
Philadelphia.
Denominations.
GOLD.
Double eagles .
Eagles .
Half eagles .
Three-dollar pieces.
Quarter eagles .
Dollars .
Total gold, face value.
SILVER.
Received
from
Treasury-
$487,560.00
721,860.00
1,227,860. 00
18.00
9,867. 50
30.00
Purchased.
$86,430.00
110,240.00
122,680.00
45.00
7,632.50
179.00
2,447,195.50 327,206.50
Trade dollars .
Standard dollars....
Half dollars .
Quarter dollars .
Twenty-cent pieces.
Dimes .
Half dimes .
Three-cent pieces. . .
175,407.00
198,572.50
45.00
237,823.80
795.25
51.45
172.00
912.00
1,034.00
683.50
405.20
19.80
1.08
Total silver, face value.
HAWAIIAN COINS.
Dollars.
Half dollars..
Quarter dollars.
Dimes.
Total Hawaiian, face
value.
NICKEL.
One-eent. . .
Three-cent.
Five-cent.
Total nickel, face value.
bronze.
One-eent.
Two-cent .
One-cent, copper.
Total bronze, face value
summary.
Gold coins.
Silver coins. .
Silver coins, Hawaiian*.
Nickel coins
Bronze coins.
00 Wng value...
*S'iS«S5SSa
..ary value ’ bsldl'
Nickel, coining Value
Bronze, coming value
f°ss, gold .
Boss, silver .
Gain, silver... .
Gam, silver, Hawaiian ’
Loss, nickel coins -
bronze coins;;;
bionze coins...
612,695.00 3,227.58
San Francisco.
Received
from
Treasury.
Purchased
92.50
8. 00
Denver.
Received
from
Treasury.
Purchased.
$40.00
90.00
110.00
12.50
16,355. 50
$7,000.00
5,000.00
.00
4,000.00
84.65
7. 02
16,092.27
65.50
28.50
2. 40
14. SO
2.10
$13,750.00
12,000.00
18.00
20, 145. 00
75.00
12.00
113.30 46,000.00
252.5)
58.00
32.50
19. 75
16.10
126.35
OPERATIONS OF THE MINT SERVICE,
85
received for rtxoinage during the fiscal year ended June SO, 1912.
New Orleans.
New York.
Seattle.
Charlotte.
Total.
Total.
Purchased.
Purchased.
Purchased.
Purchased.
Received
from *
Treasury.
Purchased.
$10,620.00
8.540.00
15,175.00
3.00
227.50
3.00
$1*22,940.00
219.390.00
349.405.00
36.00
7.055.00
SS.00
$20.00
110.00
190.00
$487,560.00
721, 860. 00
1,227, 860.00
18.00
9.867.50
30.00
$231 , 090. 00
340,350.00
490,800. 00
84.00
15,022.50
27S. 00
$718,650.00
1,062.210.00
1,718.660.00
102.00
24,890.00
308.00
$5.00
2.50
34.56S.50 t
698,914 00
322.50
5.00
2.447, 195.50
1,077,624.50
3,.i i24. 820.00
172.00
1,024.00
1,183.50
776.25
2.40
486.10
25.10
1.32
172.00
1.024.00
197,340.50
216,348. 75
66.00
262.454.90
980.00
71.79
54.00
51.50
44.50
196,157.00
215,572.50
63.60
261.96S NO
954.90
70.47
50.00
3.20
* .24
i .
303.44
674.787.27
3.670. 67
678,457.94
323.00
163.50
112. 75
2.10
323.00
163.50
112.75
2.10
601.35 .
601.35
242.50 .73
180.54 12.39
106.474- 90 46.15
243.23
192.93
108,521.05
1 . ~
106,897.94 59.27
106,957.21
22.796. 84 4.40
152.20 -90
77.52 .12
22, m. 24
153.10
77.64
- — - -
23.tes.56 5.42
23,033 96
—
s*mL*o.
USB.sk
156.51
i
&*ud.azt.
, 17. 9H
Stand. ozy
Stand. ozt.
130.575.725
506.736. 72
496. 96
Stand, ozs .
57, 375. 630
2.922.72
Stand. ozs.
187,951.356
509.659.44
495.96
Trtfma.
- -
Trwf <a. «a.
Traf ie».
Trvf ozt.
332 796. €0
223,759.00
Trof ozt.
165.00
65. 76
T ron ozt.
332.963. U)
223 824. 76
su mat
1 _ _ _
S0Sl.*4t*X
€317 97
$4 84
$2 429. 315. 81
09 465,59
€18,30
$1.057. 453. 5a
2, 6ft. 35
€3.496 759.39
634.101 S4
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US.79i.23
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ICC. 737.36
22,197 32
51.87
6 29
4UL41
7.4C »
S.»
IS
.14
17.879
44 23 w
10,170
75.49
41.C8
. rii
r .
28. u60.fi
44.297 f*
41.08
16.95
6. 167 9*
4
.87
mm-m » • • •
-I. . —
6.W&. 5»
831 34
86
REPORT OF THE DIRECTOR OF THE MINT,
No. (>. — Assets and liabilities of (he United
ASSETS.
Institutions.
Gold bullion.
Silver bullion.
Quantity.
Value.
Quantity.
Value (cost).
Coinage mints:
Philadelphia. .
Stand. o».
1 , 054, 3S6. 824
4,524,686.374
*19,616,498.39
84,180,211.59
Stand, oz*.
1,677,988.34
503, 856. S6
470. 21
482, 714.55
1,333,605.33
3,272.53
2,611.93
828.59
2,201. 69
18. CS
5,484.88
1,862.23
309.30
SI, 123,226. 57
270,454.52
414.93
239,34233
075,434.49
1,774.64
1,414.31
446. SI
1,192.02
10. 14
2,979.33
1,01270
167.02
Bullion for Philippine coinage.
Denver .
Assav offices:
Sew York .
New Orleans .
Carson .
Boise .
Helena .
Charlotte .
Dead wood. .
Seattle . , .
Salt Lake City .
Total .
2,703,343.846
2, 2S9. 873. 808
6, 600.593
5,02S. 160
1,993.739
4,815. 147
257.247
12,621.416
14,077.287
3,009.834
50, 294, 709. 22
42,002,396.42
124,477.17
104,710.08
• 37,091.79
89.5S3.91
4,785.99
234,818.41
261,903.00
55,997.36
10,621,389.275
197,607,243.33
4,015,225. 12
2,317, S69.S1
LIABILITIES.
Institutions.
Bullion fund.
Undeposited
earnings.
Seigniorage
on silver.
Unpaid
depositors.
Coinage mints:
Philadelphia .
$438, 772, 560. 24
186,214.684. 15
458,423,530.20
45.826,513.51
22,713,214.17
234,816.30
9S.006.09
181,880.11
13,000.35
409,184.49
817,441.06
203,684.55
$4,040.96
17,475.34
$139,728.00
$39,514.85
613.10
597,543.86
745.52
73.79
San Francisco .
Denver .
76,998.83
Assay offices:
New York .
503.44
396.75
New Orleans .
Carson .
Boise .
Helena .
Charlotte .
31.25
Dead wood .
Seattle .
519. 17
Salt Lake Citv .
Total .
1, 153,908,575.22
22,966.91
216, 726. S3
638,491-12
OPERATIONS OF THE MINT SERVICE,
87
States mints and assay offices , June SO, 1912.
A88ET8.
Gold coin.
Silver coin.
Credit with
assistant
treasurer and
depository
banks.
Minor coin.
Minor
coinago
metal.
Total.
$308,484,185.00
35,422,065.00
$109,210,539. 27
02,624,007.41
$521,394.82
3,734,889.80
$1,314,340.73
28,513.90
$143,451.49
5,535.50
333. 75
16,496. 28
$440,413,642.27
186,206,937.78
748.68
459,389,976. 75
45,827, 762. 47
22,713,684.71
234, 810. 30
98,000. 09
181,880.11
13,091.60
409,184.49
817,960.23
203,084.55
404,874,885.00
3,412,580.40
270,495.88
2,549.931.50
112, 432. 90
114,395. 59
00, 467. 49
91,104. 18
8,295.47
171,380. 75
415,044. ^
147.520.17
275,407.58
22, 475, 000. (X)
146.32
•f
14,150.00
140,000.00
748,935,885.00
197,722,933.40
8,203,359.20
1,618,268.21
166,817.02
1,156,571,376.03
LIABILITIES.
Minor coinage
profits.
S3, 175.97
160.11
46.823.01
50. 159. 09
Minor coin metal
fund.
$142,189.00
20,555.99
23,411.70
186,156. 69
Unpaid cent de¬
positors and
subtreasury mi¬
nor coin trans¬
fers.
$1,312,433.25
13,333.30
221 . 669. 15
1,547,435.70
Government of
the Philippine
Islands.
$864. 47
864. 47
Total.
$440, 413, 642.
186, 267,686.
459,389,976.
45.827.762.
22,713,684.
234,816.
98,006.
181,880.
13,091.
409,184.
817,960.
203,684.
1,156,571.376.03
88
report of the director of the mint.
No. 7.— Earnings and expenditures of the United
EARNINGS AND GAINS.
Items.
Charges for parting and refining .
Fine bar charge .
Melting charge .
Charges for alloy . , .
Charges for assa ving and stamping .
Seigniorage on subsidiary coinage* .
Seiguiorage on minor coinage. . .
Se igniorage on recoinage of minor coin .
Profits on medals and proof coins .
Charges for manufacture of medals .
Deposit melting-room grains and sweeps .
Surplus bullion recovered by operative officers .
Gain on bullion shipped to mint for coinage .
Proceeds sale of old material .
Receipts for special assays of bullion and ore .
Receipts for manufacturing appliances for Government
and other institutions .
Charges recei red for coinage for:
Philippine Government . .
Salvador . .
Charges on account of ore analyses for Department of
Justice . .
Gain on lightweight and mutilated United States gold
coin for recoinage .
Receipts for sale of by-products .
Total .
Mints.
Philadelphia.
San Francisco.
Denver.
$8,802.72
2,545. 14
4,402.00
146.48
$35,902. 13
2,866.08
8,587.00
5,702.55
*87,831.38
14.61
4,445.14
4,030.41
1.678.921.00
1,511,790.25
1,466.83
2,364.94
5,587.79
4,241.75
15,912.60
1,238,242. 61
31,566.75
1,650.660.35
337,234.03
“9
2,391.95
12,439. 77
3,642.70
588.84
645. 04
394.00
10,630.36
5,033.98
20.00
884. 24
8.00
29,713.22
5, 263. 80
131.07
72,124.59
4,283.73
3,325,370.36
1,372,466.04
2,093,623.43
EXPENDITURES AND LOSSES.
Salaries of officers and clerks .
Wages of workmen .
$74,851.12
293,073.35
65,300.97
23,511.03
372.78
907.68
1,361.06
27,937.22
$50,374.91
102, 703. 49
27, 194.89
44,281.33
383.37
20.49
455.05
84.50
*46.326.11
65,973.08
24,881.02
33.541.30
2,412.77
277.51
869.06
1,923.90
Contingent expenses, less amount to reimburse wastage
and loss on sweeps sold .
Parting an J refining expenses, less amount to reimburse
wastage and loss on sweeps sold . . .
Wastage of operative departments. .
Wastage of the operative departments, minor coinage
operations .
Loss on sweeps sold during the year
Expenses of distributing minor coins
Loss on bullion shipped to mint for coinage
F^hton bullion and coin between mints and assay
..
Total .
487,315. 21
225, 498. 03
176,204.75
OPERATIONS OF THE MINT SERVICE,
89
Slates mints and assay offices for the fiscal year 1912.
EARNINGS AND GAINS.
Assay offices.
Total.
New
York.
New
Orleans.
Carson.
Helena.
Boise.
Char¬
lotte.
Dead-
wood.
Seattle.
Salt Lake
City.
$57,517.96
20,564.45
15,092.00
5,296.05
$190,054. 19
25.990.28
38,961.14
15,175.49
27,955.94
4,567,823.96
1,880,591.03
1,466.83
2,364.94
5.587.79
23,832. 74
29,130.83
1,397.37
7,490.59
3,680.34
10,630.36
29,713.22
5.263.80
245.94
131.07
76,408.32
$514.00
$891.00
$842.00
$1,124.00
$210.00
$736.00
$1,724.00
$394.00
2,121.58
1,678.93
2,914.17
1,851.91
258.50
9,639. 76
7,909.88
i,58L21
9,222.01
189.62
451.47
206.58
241.10
2,386.93
192.66
198. 15
470. 12
187.32
301.55
186.00
130.00
116.42
625.00
200.00
4,56. 32
436. 20
7.20
134.00
86.88
107.13
2,021.00
2.00
191.00
40.00
198.30
344.04
245.94
110,256.16
3,704.60
3,717.93
4,037. 27
6,017. 46
854.16
10,917.95
10,681.40
2,249.41
6,943,896.17
EXPENDITURES AND LOSSES.
$46,013.89
25, 674. 00
19,471.25
127,853.97
800.02
$7,900. 00
6,943.00
1,717. 15
1,113.92
$6,350.00
5,409.50
1,997.12
$8,800.00
5,198.00
2,328.58
$8,050.00
3,540.00
1,966.03
$1,500.00
895.00
477.26
$0,271.12
2,300.00
1,368.18
$13,050.00
16,913.57
4, 572.99
$7,100.00
3,883.50
2, 710. 20
$276,587.15
532,500. 49
153,985.64
230,301.55
* 3,909.54
1,205.68
5,014.03
29,945.02
353.36
26,577. 74
.
.
.
.
.
.
.
.
.
4,612.53
2,295.53
1,528.05
1,886.50
985.11
88.70
3,973.75
10,108.17
1,099.40
227,355.12
19,909.60
15,284.07
18,358.05
14,541.14
2, 980. 00
14,090.40
44,644.73
14,793.10
1,261,040.80
.*Hf II.
90
REPORT of the director of the MINT,
No. 8.— Imports and exports , gold and
[Compiled by Bureau of Statistics.]
IMPORTS BY CUSTOMS DISTRICTS OR PORTS.
Gold.
Customs district or port.
In ore and
base bul¬
lion.
Bullion, refined.
Coin.
Total gold.
United
States.
Foreign.
Value.
Ounces.
Value.
Value.
Value.
Value.
Atlantic coast districts:
Bangor, Me.. . . . . . • - - - ■ - • •
213
$4,192
$3,203
$10,254
$17,649
$1,213,042
2,100,500
294
831,121
17,258,777
501,513
2,531,507
21,504,839
2,100,500
12,942
12,095
12,648
rmlacieipnia, la .
12,095
Gulf coast districts:
XT ATir Arloonc T .ft
1,084,109
1,084,109
218,772
3,363,052
713,489
625,725
15,075
3,172,019
6,000
4,694,244
16,053
4,532,321
193,700
TarmvA Fla
218,772
Mexican oordcr districts:
Arizona
905,575
121,610
27,259
22,559
731
196,099
408
50,542
232
62,750
2,457,477
563,489
451,247
15,075
3,111,288
6,000
972,629
4,603
1,292,897
Corpus Christi Tex
150,000
1,217
Paso del Norte Tex
173,261
Saluria, Tex .
Pacific coast districts:
Alaska . .
60,731
Los Angeles, Cal .
Puget Sound, Wash .
3, 184, 760
11,450
832,142
161,874
536,855
San Diego, Cal .
San Francisco, Cal .
84,445
22,969
2,322,837
8,857
Northern border districts:
Buffalo Creek, N. V .
CaDQ Vincent N Y
Champlain, N. Y .
6,060
62,602
4,197,097
75
464,585
731,116
161,638
4,934,273
'224,386
464,585
11,370
59,09S
840,414
Chicago, Ill .
3
71
Detroit, Mich .
Huron, Mich .
11,370
8,887
839,339
Niagara .
506
10,373
76
1,075
39,762
North and South Dakota
Superior, Mich. . . .
Vermont, Vt ..
297
24
7
26
134
417
89,991
28,927
119,349
441
In tenor ports: Denver, Colo
Total .
10,656,317
1,314,066
26,148,669
6,283,968
5,847,546
48,936^500^
Recapitulation.
Atlantic coast districts.
3,313,836
1,084, 109
1,078,836
4, 0S9, 083
1,090,429
24
831,334
17,262,969
516,811
218, 772
151,217
621,300
4,775,868
2,554,409
23,648,025
1 302 ®
4 717,341
12) 420,63'
6,84t,bJ
Gulf coast districts. . .
Mexican border districts .
Pacific coast districts. . . .
i72, 159
310,031
516
26
3,487,288
5,387,417
10,578
417
Northern border districts .
Intenor ports .
2,322,837
970,300
OPERATIONS OF THE MINT SERVICE,
91
silver , year ctuled June $0, 191$ .
[Compiled by Bureau of Statistics.)
IMPORTS BY CUSTOMS DISTRICTS OF PORTS.
Silver.
In ore and b;iso
bullion.
1
Coin.
Total values
Bullion, refined.
United
States.
Foreign.
Total silver.
of gold and
silver.
Value.
Ounces.
Value.
Value.
Value.
Value.
$15,177
$963
$16. 140
$33,789
7,112
7,112
7,112
$3,212,053
a R9n
13,442,915
$7, 443, 837
102,672
133,275
10,891,837
9,820,326
32,396,676
11,920,826
70
33
1,867
1,900
14,842
9,042
9,042
21,137
15
9
9
9
23,035
447,076
470,111
1,554,220
148
148
218,920
o 7 on
3 351 415
1,730.062
1,075.342
1,313,610
3,160,820
4.520,640
1,075,342
7,883,692
□ | ihl A » TI1U
1,991,142
1,788,831
963,162
2,281,395
5,667,275
38,635
1,200
2,316,607
3,160,S20
2,942,332
3,175,895
8,755
3,760
12,515
3,184,534
6.000
355,379
3 192
297,938
167,565
591,827
5,809.015
1,494
4.6S6
20, 739
490* 31^5
479,670
275,583
2,000
6S5.141
1,453,089
5,9&5,410
5, 149, S59
502, 29S
5,652,157
5,845, 857
4,680
i,200
5,880
5,880
36,960
81,792
35,651
154,403
5, OSS, 676
569,955
794,341
20,090
tOA OiQ
758,775
778,865
1,243,450
530,949
542,319
vKiU,
1,952,560
179,791
£*yi oa
2,853,692
1,660.104
84,922
5,275
243
3,697.829
185,066
3,756.927
1.025,480
523.955
523,955
iWt
75
13.762
364
207
60,021
62,303
13,762
181,652
14.303
26,644,801
30,365,891
16.827,172
2,268, 136
1,310,110
47,050.219
95,986,719
13,032,379
23,035
13,443,000
7,443,879
134,003
148
136,105
447,076
20,746,366
470,259
44,394.391
1,773,140
3, 753! 740
857,691
8,964,194
1*» 7<i‘>
13,291.227
777.608
2.854,056
7,279.834
443,148
1 , 660, 31 1
38,635
597, 587
1,497,763
1.200
686,635
39,094
11,073,409
2.585.061
12.161.362
13.762
15,790.750
15.005.698
19.008.537
14.203
U, iP*
92
REPORT OF THE DIRECTOR OF THE MINT,
No. 9* Imports and exports of gold and silver , by countries , and by mstonis districts
IMPORTS, BY COUNTRIES.
Cold.
Countries.
In ore and
and Base
bullion.
Coin.
Bullion, refined.*
United
States.
Value.
Ounces.
Value.
Value.
Europe:
Austria- Ilungarv
Belgium .
France .
Germany .
Greece. . .
iudy . 4 .
Netherlands .
Portugal .
Servia .
Spain .
I nited Kingdom— Eng¬
land . 77- J
North America:
Bermuda . ‘
British Honduras..
Canada—
No\ti Scotia. New
Brunswick, etc .
Quebec, Ontario, etc..
British Columbia. . .
Central American States—
Costa Rica . .
Guatemala .
Honduras _
Nicaragua .
Panama .
Salavador .
Mexico .
West Indies:
British—
Barbados .
Jamaica .
Trinidad and To¬
bago .
Other British . .
Cuba .
Danish West Indies.
Dutch West Indies.
French West Indies.
Haiti
*U952
47
39
5.042
$974
$37
104.051
875
7.830
24
400
1.633
3.485
271
18.081
33.911
72.370
5.599
$8. 800
35.145
Foreign.
Value.
Total gold.
Value.
$2. 101.474
1.415
210
2.473
45
965
500
249.025
3, 95s. $56
366.131
14,300
213
196. 612
50.542 'l
7.707
4.192
3.121.795
972,629
159.345
154.08s
4. $66
100.924
689. 29$ 4.099
85. 198
1.730
35, 876
5.276
49. 583
1.021.984
4.971. 298
820.445
16.943.930
1.995
41,417
3.203
4. 775. 793
536. S55
60. 200
Santo Domingo
South America:
Argentina .
Braiii .
Chili . ;
Colombia . . .
Ecuador . ‘
Guiana— Dutch . *
Peru .
Venezuela .
Asia:
Chin* . 1
Chosen (Korea) .
Japan .
Oceana:
Australia and Tasmania
French Oceania .
Philippine Islands .
Africa: German Africa .
Total.
Recapitulation*
Europe .
North America .
South America .
Asia .
<Xvana .
Africa .
13.50$
594
53
47
12.320
1.115
976
603
6S
64
54.403
1.558
65,504
8 158
8.839 183,393
300
40,241
59.771
10.656.317
5.938
5\ 745
11.685
26
22.143
3,064
21.355
32.351
123.314
1,221.893
242.345
417
459.419
63.510
443. 496
671,879
. 50
1.314.066 26,148.669
6, 197
169.265
37. 1 IS
241.032
9,733
34.034
10.537
80s. 379
10.000
776
290,837
5.441
23s. 272
30.2S5
24.075
5,378
19, 140
4.405
30.000
57,400
6, 283, 968
11. 796
10. 422.680
121.529
40.541
59.771
11392 236,423
1. 138.526 22,502,530
110.440 2.294.291
21.355 4*3.496
32.353 671.929
4$, 08*
6,157,624
78.236
30
48.665
99$
290
179,300
696
27,265
1.014
1.548
146
$974
837
2, 218, S77
53.226
40.000
1,460
258,494
2,022.000
5, 847,546
1.415
210
33.911
S2.663
15.401
34.999
400
18,432
8,954.992
5. 46$. 340
525. 476
84.500
255.012
775, 272
35.876
1,033.457
22,375.330
127.200
242.030
12.610
6.556
431.956
30.981
51.943
6.460
20.688
4,563
183.393
64
177.717
1.224.423
307.849
60.417
460.879
379,404
300
40.241
2, 465.496
671.879
48,936,500
2.111.207 2.407,514
1.414.239 40.497.073
300.100 2,794.146
2.022.000
2.506,037
731.730
93
OPERATIONS OF THE MINT SERVICE.
or ports , and summary of, during the year ending June SO , 1912.
IMPORTS, BY COUNTRIES.
76347°—. 13 - 7
94
REPORT OF THE DIRECTOR OF THE MINT,
No. 10. — Imports and exports, gold and
DOMESTIC EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS.
Gold.
Customs districts.
In ore
and base
bullion.
Bullion
, refined.
Coin.
Total gold.
Value.
Ounces.
Value.
Value.
Value.
Atlantic coast districts:
Baltimore, Md .
$4,500
$4,500
Bangor, Me .
Boston and Charlestown, Mass .
$21
21
77 700 AOQ
New York, N. Y .
»948,524
i$19,546,323
13,844,305
14 000
Philadelphia .
OOf OUXJy U^»0
14 000
Porto Rfco .
930
5,000
Q7f)
Gulf coast districts:
Mobile, Ala .
wuv
5 000
New Orleans, La .
102 000
in9 non
Mexican border districts: Paso del Norte,
Tex . .
20,884
63,042
20,884
154,892
7 1 VI
Pacific coast districts:
Alaska .
5,732
91,850
Hawaii .
Puget Sound, Wash .
360,295
839
j 1242,772
17,554
15,018,566
i , IdU
20,404
} 15,690
} 150,000
5,790,284
/ ; lOU
398,253
7,034,962
769,413
5,790,925
San Francisco, Cal .
Northern border districts:
Buffalo Creek, N. Y .
\ 96,194
1 1 15,552
2,000,706
1320,282
Champlain, N. Y .
641
\ 14,519
299, 131
Detroit, Mich . •
Huron, Mich .
3,060
676
13, 164
9QQ
16,224
070
Memphremagog, Vt .
13
Montana ana Idaho .
OUU
15
15
Niagara, N. Y .
1 240
720,000
745,552
Oswegatchie, N. Y .
Vermont, Vt .
1, 891
ofi 7Q1
5,002,500
5,039,291
ou, <ai
Total .
447 943
1 V>7 qw
27,370,158
25,677,378
53,495,479
Recapitulation.
Atlantic coast districts .
21
948,524
19,546,323
13,863,735
33,410,079
Gulf coast districts .
Mexican border districts .
20,884
10< , 000
10/ ,000
20,884
Pacific coast districts .
Northern border districts .
423,337
3,701
345,537
33,891
7,128,676
695, 159
43,244
11,663,399
7,595,257
12,362,259
> United States Mint or Assay Office bars,
95
OPERATIONS OF THE MINT SERVICE.
silver, year ending June 30, 1912.
DOMESTIC EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS,
Silver.
In ore and
base bullion.
Bullion, refined.
Coin.
Total silver.
Total values
of gold and
silver.
Value.
Ounces.
Value.
Value.
Value.
$4 500
135
$85
$85
' 85
/ 1343,979
i 190,569
} $93,606
47,937,406
21
81,328,034
\ 84,502,255
47,653,231
14, 000
930
1 1 945
11,945
Of UUU
113,945
$16,842
11, £7 -id
8 000
24,842
45,726
1,825
1 895
156,717
? ien
lj 060
86,169
25,756
150
/ , 10U
510,178
16,923,056
17,648,133
9,887,944
111,925
9,888,094
2,614
/ 1 63,393
\ 239,681
1 37,409
143,809
i .
183,832
7,143
157,535
560
615
953,245
5 798 008
7,143
300,630
1,000
1,082
157,535
560
615
1 9jOy V/vO
157,535
16,784
1,454
15
10,876
151
2Q3 044
6,307
83
6,307
99
190 1
751,859
99
Z. OOQ AAt\
16
164,624
25,531
db%7\Jy LTX X
AiJVj XOO
Oy 66iJy iiO
114,609
103,404,359
68,242,771
164,988
58,522,368
112,017,847
84,846,369
47,843,885
93,606
11,945
47,937,491
11,945
24,842
10,001,844
546,246
81,347,570
118,945
45, 726
16,842
8,000
25,906
25,531
87,994
9,773
17,648,133
909,857
9,887,944
510,942
17,597,101
12,908,505
96
REPORT OF THE DIRECTOR OF THE MINT.
No. 11. — Imports and exports, gold and
DOMESTIC EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS.
Countries.
Gold.
In ore and
base
bullion.
Bullion, refined.
Coin.
Total gold.
Value.
Ounces.
Value.
Value.
Value.
Europe:
France .
> 948,524
'*19,546,323
Germany .
$15
4,000
- $19,546,323
15
4,000
United Kingdom— England _
North America:
Bermuda .
Canada—
Nova Scotia, New Brunswick, etc..
Quebec, Ontario, etc .
$21
60,741
366,295
5,000
5,000
21
12,419,301
496,103
100,265
2,000
8,000
1,390,000
1,000
20,884
50,000
13,300
38,450
930
4,000
489,290
27,000
10,070,000
250,250
19,500
*’i65,’666’
20,000
1,371,500
. 2,’ 500 ‘
12,282
7,018,565
5,000
5,000
/ 1 15,552
l 18,339
6,571
1 320,282
374,877
109,404
}ll, 663, 399
20,404
100,265
2,000
8,000
1,390,000
1,000
British Columbia. .
Central American States—
Guatemala .
Honduras .
Salvador .
West Indies—
British—
Trinidad and Tobago
Other British .. .
20,884
50,000
13,300
38,450
930
4,000
489,290
27,000
10,070,000
250,250
19,500
*i65‘666'
20,000
1,371,500
Danish West indies.
French West Indies .
Santo Domingo. .
Argentina .
Brazil .
.
............
.
Guiana —
British . * .
Dutch .
.
.
.
V enczuela .
Asia: .
China .
. •■*•••
. .
British India .
Straits Settlements.
Hongkong . "!!!!!!!!!’*
Japan .
. .
. 34
( 1 242,772
l 96,160
”‘707*
1 5,018,566 \
1,999,999
’2,500 ’
11,575
Oceania:
French Oceania .
5,000
5,000
Total
.
.
/? /■/'n i 4*s 7/i i
447,943
1,327,952
27,370,158 :
25,677,378 1
53,495,479
itecapuwauon.
Europe .
948,524
40,462
19,546,323
804,563 ;
4,015 ;
13,813,03 8 J
11,836,250 ]
14,075
10,000
19,550,338
15,065,544
11,836,250
7,033,347
10,000
TNorm America .
South America.. .
47,943
Oceania _
l TT.a.j
.
97
OPERATIONS OF THE MINT SERVICE.
silver, year ending June 30, 1912.
DOMESTIC EXPORTS, BY COUNTRIES AND CUSTOMS DISTRICTS.
Silver.
In ore and base
bullion.
Bullion, refined.
Coin.
Total silver.
Total values of
gold and silver.
Value.
Ounces.
Value.
Value.
Value.
Value.
f 1 104,397
\ 9,044,540
176,700
1 $89, 342
5,509, 123
93,000
i
$5,598,405
93,000
$25,144,788
93,015
4,000
41,479,456
150
5,130
106
12,905,547
009,853
112,230
2,000
8,000
1,391,222
1,105
45,720
50,000
25,534
44,450
930
4,000
489,790
100,500
10,070,000
250,250
19.500
3,879
105,000
20,000
1,371,500
1,297,997
1,655,700
2.500
7,615,424
7,018,565
5,000
5,000
/ .
i 1 179,582
l 73,574,222
1 101,227
41,378,229
i
41,479,450
150
130
85
540,246
• 113,750
11,905
/ .
$150
130
135
1 1 03,393
\ W0,4(M
85
1 37,409
473,533
$9,773
87,994
} 25,531
25,756
11,905
1,222
1,222
105
24,842
180
105
10,842
8,000
12,234
12,234
0,000
500
73,500
500
73,500
6,507
3,879
3,879
2,215,049
2,870,171
1,297,997
1,655,700
1,297,997
1,055,700
13,002,953
7,603,142
7,003,142
114,009
103,404,359
58,242,771
104,988
58,522,308
112,017,847
83,739,507
910, 172
0,507
18.748,173
47,170,921
511,132
3,879 .
10,556,839 .
H"
47,170,921
790,729
3,879
10,556,839
66,721,259
15,856,273
11,840, 129
17,590,186
10,000
114,009
104,988
1 United States mint or assay office bars.
98
REPORT OF THE DIRECTOR OF THE MINT,
No. 12. — Imports and exports, gold
FOREIGN EXPORTS BY COUNTRIES AND BY CUSTOMS DISTRICTS.
Countries and customs districts.
Gold.
In ore
and base
bullion.
Bullion refined.
Coin.
Total gold.
Value.
Ounces.
Value.
Value.
Value.
COUNTRIES.
Europe:
France. _ r r . . r
$770
$770
TTnited Kingdom — F.nglanri _
North America:
Bermuda.
68,258
68,258
Canada—
Nova Scotia, New Brunswick, etc.
Quebec, Ontario, etc .
1,638,806
378
1,638,806
378
British. Columbia .
Central American States—
Guatemala .
Honduras .
Nicaragua .
Salvador . .* .
Mexico .
20,106
20, 106
West Indies—
British— Trinidad and Tobago _
Cuba .
1,935,650
101,083
65,318
1,935,650
101,083
65,318
South America:
Colombia .
Venezuela .
Asia: Hongkong .
Oceania: Australia and Tasmania .
2,500
2,500
Total .
3,832,860
3,832,869
Recapitulation.
Europe .
770
3,663,198
166, 401
770
3,663,198
166,401
North America .
South America .
Asia .
Oceania .
2,500
2,500
CUSTOMS DISTRICTS.
Atlantic coast districts:
Bangor, Me .
New York, N. Y .
2, 170,309
770
2, 170,309
770
Porto Rico .
Gulf coast districts: New Orleans, La.
Mexican border districts:
Arizona .
20,000
20,000
Brazos de Santiago, Tex .
lurpua Liirisii, i ex .
Paso del Norte, Tex .
106
106
Pacific coast districts:
Hawaii .
2,500
378
2,500
378
Puget Sound, Wash .
San Diego, Cal .
San Francisco, Cal .
Northern border districts:
Buffalo Creek, N. Y .
V ILaUiUldUi^ ii , I .
S22ETf*’vt .
Vermont. Vt .
95,984
i, 500, 000
95,984
1,500.000
Total .
Recapitulation .
Atlantic coast districts . .
42, 82%
3, 832, 869
42,822
3,832.860
2,171,079
2,171,079
Gulf coast districts .
Pacific coast districts .
.
.
2,878
1,638,806
2,878
1,638,806
OPERATIONS OF THE MINT SERVICE.
99
and silver , year ending June 30 , 1912.
FOREIGN EXPORTS, BY COUNTRIES AND BY CUSTOMS DISTRICTS.
Silver.
In ore and base
bullion.
Value.
Bullion, refined.
Ounces.
23,082
9,917,213
14,802
Value.
$14,080
5,690,063
7,945
Coin.
Value.
$85,906
2,146
170,189
9,532
1,000
1,915
7,691
202,380
91,788
25,809
40,853
17,000
Total silver.
Value.
$14,080
5,775,969
2,146
178,134
9,532
1,000 |
1,915
7,691 !
202,380
91,788 |
25,S09
Total values of
gold and silver.
40,853
i*7, ‘666*
$14,850
•5,775,969
68,258
2,146
1,816,940
9,910
1,000
1,915
7,691
202,380
111,894
25,809
1,935,650
141,936
65,318
17,000
2,500
9,955,097
5,712,088
656,209
6,368,297 I
9,940,295
14,802
5,704,143
7,945
85,906
512,450
40,853
17,000
5,790,049 I
520,395
40,853
17,000
9,940,295
5,704,143
2,146
354,948
2,146
6,059,091
14,802
7,945
10,606
9,375
9,711
11,555
59,497
76
9,456
1,650
17,000
34,665
49,597
11
85,916
10,606 |
9,375 |
9,711
11,555 I
59,497
76 I
9,456
1,650
17,000 I
34,665 I
49,597
11
7,945
85,916
10,201,166
5,790,819
4,183,593
207,254
17,000
2,500
2,146
8,229,400
770
10,606
29,375
9,711
11,661
59,497
2,576
9,834
1,650
17,000
34,665
145,581
11
1,507,94 5
128,738
9,955,097
5,712,088
656,209
6,308,297
10,201,166
9,940,295
5,704,143
14,802
7,945
357,094
10,606
90,138
28,182
170,189
6,061,237
10,606 I
90,138
28,182
178,134
8,232,316
10,606
110,244
31,060
1,816,940
100 REPORT OF THE DIRECTOR OF THE MINT.
No. 13. — Summary of imports and exports, gold and silver, year ended June 30, 1912.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Domestic.
Foreign.
Total.
Domestic.
Foreign.
Total.
In ore and base bul¬
lion .
Bullion, refined....
Coin:
United States..
Foreign .
Total .
$10, 656,317
26, 148,669
6,283,968
5,847,546
$447,943
27,370,158
25,677,378
$3,832,869
$447,943
27,370,158
25,677,378
3, S32, 869
$26,644,801
16,827,172
2,268, 136'
1,310,110
$114,609
|58, 242, 771
164,988
1 .
$5,712,088
656,209
$114,609
63,954,859
164,988
656,209
48,936,500
53,495,479
3,832,869
57,328,348
47, 050, 219 58, 522, 368
6,368,297
64,890,665
No. 14. — Transit and transshipment of gold and silver in the customs districts of New
York and Arizona 1 during the year ended June S0y 1912.
Countries from which
received and to
which shipped.
Gold.
Silver.
Total
gold and
silver.
In ore.
Bullion,
refined.
Coin,
foreign.
Total
gold.
In ore.
Bullion,
refined.
Coin,
foreign.
Total
silver.
COUNTRIES FROM
WHICH RECEIVED.
Mexico .
S9,S00
$9,800
72,998
$54,816
$12,440,823
$3,660
$12,499,299
$12,509,099
72,998
38,800
301,345
West Indies:
British .
$72,998
Cuba . • .
38,800
38,511
38,800
40,771
Colombia .
$13,090
247,484
260,574
2,260
Total .
13,090
257,284
72,998
343,372
57,076
12,518,134
3,660
12,578,870
12,922,242
COUNTRIES TO WHICH
SHIPPED.
France . . .
3,525
75,907
5,825
175,552
79,432
5,825
185,117
72,998
421,816
664,301
11,432,017
421,816
664,301
11,442,627
501,248
670,126
11,627,744
72,998
50,126
Germany .
United Kingdom—
England .
9,565
10,610
Canada .
72,998
Mexico .
46,466
3,660
50,126
Total .
13,090
257,284
72,998
343,372
57,076
12,518,134
3,660
12,578,870
12,922,242
1 No transactions occurred in other customs districts.
OPERATIONS OF THE MINT SERVICE.
No. 15 — Seigniorage on the coinaoe of subsidiary silver
101
button during' yZr'ig™'* W*"or C01" and its distri'
Balances and seigniorage.
Silver seigniorage balance on hand July
1, 1911: Denver . ‘ S6" nas o-
Seigniorage on subsidiary silver: * 9 4
Philadelphia . $1,678,921.00
San Francisco . 1,23S 242 61
Denver . 1,650,66a 35
Total . | eg- ^ op
Minor coin seigniorage balance on hand ’ ‘
July 1,1911:
Philadelphia . $638, 369. 26
San Francisco . 22,984 60
Denver . 14,460.49
Total . 7 .
Seigniorage on minor coin:
Philadelphia.. . $1,513,257.08
San Francisco . 31,56a 75
Denver . 337,234.03
Total . 1,882,057.86
675, SI 4. 35
Total.
7,192,791.44
Deposited in the Treasury.
S*Treasurv: Seigniora«e deposited in
. 81,539,193.00
^Francisco . 1,238,242. 61
UOW . 1,040,706.79
2,476,501.82
Total.
^TrJJun- ■ deported in ^ 192
IStiSSSzz" •’■■ffgg
Denver . 302,' 670. 10
Total .
ExP«^f of distributing minor coin-' '
Philadelphia . 327,937.22
San Francisco . 84. 5i)
Denver . 1,92390
Total . ~ ’
Minor coin wastage:
Philadelphia .
San Francisco .
Denver .
29,945.62
$907.68
20.49
277.51
1,205.68
Total .
Balance silver seigniorage "iiii hand
July 1, 1912:
Philadelphia . J139.72S.00
Denver . 76.99S.83
Total . 216 726.83
Balance minor coin seigniorage on
hand July 1 1912:
Philadelphia . $3, 175. 97
San Francisco . 160.11
Denver . 46,823.01
Total.
50,159.09
Total . 7,192,791.44
102 REPORT OF THE DIRECTOR OF THE MINT.
No. 16. — Average price of an ounce of gold in London and equivalent value in United
States since 1870.
Calendar year.
1870 .
1871 .
1872 .
1873 .
1874 .
1875 .
1876 .
1877 .
1878 . .
1879 . .
1880 .
1881 .
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
1889 .
1890 .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898 .
1899 .
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
Mint price.
Bank price.
Average Lon¬
don price.
Equivalent
value in
United States
gold coin of
an ounce of
gold, British
standard
(0.9165).
Value in
United States
gold coin of
an ounce
1,000 fine.
Per cent
premium
above Bank
of Eng¬
land’s mini¬
mum rate.
£ s. d.
3 17 9.01
$18.9187
$20,638
0.00106
3 17 9.01
18.9187
20.638
.00106
3 17 9.24
18.9233
20.643
.02571
3 17 9.28
18.9241
20.644
.03000
3 17 9.00
18.9185
20.638
317 9.23
18.9231
20.643
.02431
3 17 9.30
18.9246
20. 645
.03215
3 17 9.42
18.9270
20.647
.04501
3 17 9.41
18.9268
20.647
.04394
3 17 9.11
18.9207
20.640
.01178
3 17 9.15
18.9215
20.641
.01607
3 17 9.35
18.9256
20.646
.03751
3 17 9.43
18.9272
20. 647
.04607
3 17 9.18
18.9221
20.642
.01920
3 17 9.32
18.9250
20.645
.03429
3 17 9.17
18.9219
20.642
.01821
3 17 9.10
18.9205
20.640
.01071
3 17 9.01
18.9187
20.638
.00106
3 17 9.21
18.9227
20.642
.01804
3 17 9.04
18.9193
20.639
.00428
3 17 9.44
18.9274
20.648
.04715
3 17 10.29
18.9446
20.666
. 13826
3 17 10.17
18.9422
20. 664
. 12542
3 17 10.57
18.9503
20.673
.16826
3 17 9.33
18.9256
20.646
.03747
3 17 9.03
18.9191
20.639
.00324
3 17 10.16
18.9420
20. 664
. 12433
3 17 11.23
18.9637
20.688
.23901
3 17 10.46
18.9481
20.670
. 15648
3 17 9.27
18.9240
20.644
.02936
3 17 9.91
18.9371
20.658
.09870
3 17 9.83
18.9356
20.657
.09078
3 17 9.55
18.9300
20.650
.05951
3 17 10.06
18.9404
20.662
.11570
3 17 9.94
18.9380
20.659
. 10337
3 17 9.42
18.9272
20.648
.04639
3 17 9.82
18.9355
20.657
.09008
3 17 9.95
18.9381
20.660
.10359
3 17 10.19
18.9429
20.665
.12935
3 17 9.18
18.9224
20.642
.02062
3 17 9.03
18.9192
20.639
.00408
3 17 9.00
18.9188
20.638
.00182
3 17 10.50
18.9491
20.671
.16208
3 17 9.00
18.9185
20.638 .
No. 17. — Bullion value of the silver dollar [37.7} grains of pure silver ] at the annual
average price of silver each year from 7337.
Calendar year.
Value.
1837 .
$1,009
1838 .
1.008
1839 .
1.023
1840 .
1.023
1841 .
1.018
1842 .
1.007
1843 .
1.003
1844 .
1.008
1845 .
1.004
1846 .
1.005
1847 .
1.011
1848 .
1.008
1849 .
1.013
1850 .
1.018
1851 .
1.034
1852 .
1.025
1853 .
1.042
1854 .
1.042
1855 .
1.039
Calendar year.
Value.
1856 .
$1,039
1857 .
1.040
1858 .
1.039
1859 .
1.052
1860 .
1.045
1801 .
1.031
1862 .
1.041
1863 .
1.040
1864 .
1.040
1865 .
1.035
1866 .
1.036
1867 .
1.027
1868 .
1.025
1869 .
1.024
1870 .
1.027
1871 .
1.025
1872 .
1.022
1873 .
1.00368
1874 .
.98909
Calendar year.
Value.
1875 .
$0.96086
1876 .
.90039
1877 .
.92958
1878 .
.89222
1879 .
.86928
1880 .
.88564
1881 .
.87575
1882 .
.87833
1883 .
.85754
1884 .
.85904
1885 .
.82379
1886 .
.76931
1887 .
.75755
1888 .
.72683
1889 .
.72325
1890 .
.80927
1891 .
.76416
1892 .
.67401
1893 .
.60351
Calendar year.
Value.
1894 .
$0.49097
1895 .
.50587
1896 .
.52257
1897 .
. 46745
1898 .
.45640
1899 .
.46525
1900 .
.47958
1901 .
. 46093
1902 .
.40835
1903 .
.41960
1904 .
. 44763
1905 .
.47200
1906 .
.52353
1907 .
.51164
1908 .
.41371
loot) .
.40231
1910 .
.41825
1911 .
.41709
OPERATIONS OF THE MINT SERVICE,
No. 18. — Coinage of nations ..
103
Countries.
1909
Gold.
Silver.
United States. .
Philippine Islands.
Abyssinia .
Austria-Hungary . .
Lichtenstein...
Belgium .
Bolivia .
Brazil .
British Empire:
Australasia ....
Canada .
British East Africa.
Ceylon .
Newfoundland .
Great Britain .
Guiana (British)....
Honduras .
Hongkong .
India.. 77. .
Straits Settlements.
Sarawak .
Bulgaria .
Chile .
China .
Colombia.. . ’ .
Costa Rica .
Denmark .
Egypt . 17777.
Finland . .
France .
French colonies:
Indo-China .
Tunis .
Germany .
Colony of German East
Africa .
Greece .
Honduras .
Italy .
Italian Somaliland .
Japan .
Chosen (Korea) .
Mexico .
Montenegro .
Morocco .
Netherlands .
Dutch East Indies .
Norway .
Persia .
Peru .
Portugal .
Russia .
Rou mania .
San Salvador .
Siam .
Spain .
Sweden .
Switzerland .
Travaneore .
Turkey .
Venezuela .
$88,776,910 $8, 087, 853 $104, 723, 735 $3.740,468 556,176,823
- - 71 1,626,805] .
. 100, sa .
8,742,094 5,810, 727j 9,547,469
. 20,308 .
. 1,628,923 .
3,9S1,610
ii,* 285,’ 186 " 9* 784, 691
54,179
47,330.786.
79,194
2,191,796
389,000
247,581
Total.
69, 104,300
1,652,960
38,740,‘32i
249
29,272,420
16,393,119
249,000
311,000
23,250
256, 0S5
673,044
16,222
64,887
100,000
5,S51,265
2,920
5,058,025
9.258,002
1,720,792
208,471
11,103,995
39.372
3,449,748
9,797,871
349
12,667,479
97,330
“'670,' 636
7,371,450
199,200
1,586,628
162, 132
1910
Gold.
Silver.
1911
Gold.
56,915 1,923,5
2, 445, SS9 1,701,049
93,266] 3,645,727 i,n5,370
86,927,097 1,703,275 48,347,716 1,707,105 1,179,830
136|320 1,979, 571 1,250,42s 9S5.679
,0 -C
16,223
162,217
121,134,799
201,611
12,563, 147 161,062,453
5,353, .
4, Ml. 339 .
7,317.423 .
l,891,872j .
10,000 .
772,000, .
809, 2» 124,368
11,325,0541 .
1,4S3,4S2
77.586
26,766,033
249
47,980,960
21,638, 100
249,000
2, 494, 9S0
411,355
1,407,0001 962,290
1^360 'i, '40S; 60S
5,000,000
4,093
3,774,415
5,034,525
693,170
397,225
107,997
i,544,000l 501,800
8,169,755 781,397
313, 242,714(U3, 427,331
257,238
i,029,27i
1,447,500
26,667,731
151,910
454,951,834
27,921 .
87,485' 986,390
401,501 .
18,914 621,460
3,872,857 24,846,092
1,073,084 .
’ 349 249
10,234,266 25,485,309
973.300 .
882,041, .
542j _ _ _
1,343,668 i93,000
6,941^977 i4, 820, 4S0
672.300 .
2,184,228 .
121,562 .
1,384,8901 3,113,667
1,206,000'
120,600
10,455,000
41,852 266,340
1,228,503 . •* -
2,302,601 515, OSo
2,123,000
135,932 .
381,403 .
510, 13S . .
386,000 1,544,000
i,' 693,737 22,724,870
’ 424:090 1,798,541
Silver
(coining
value).
$6, 457, 302
463,270
401,440
9, 547, 071
75,000
200,000
100,000
11,021,247
2,433
9,500
31,446,858 24,528,549
6,538,830
40,007
15,000
136,464
36,349,759
847,600
150,534
1,630,709
59,444
1,197,903
699,054
386,349
9,672,003
528,805
942,191
45
650,336
4,446,568
'i'7i2,‘666
3,078,667
1,125,600
562, S00
111,220
474,641
45,253
2,585,311
979,152
1,522,101
55,361
16,6S3
386,000
40,555
862,275
108,934,541 372, 143,555 148, 156,282
Fine
ounces
consumed.
4,272.761
335,118
301.460
6,302,006
683,814
22,500
60,000
69,375
7,076,676
1,261
6,566
6,816,142
20,954
12,539
73,525
34,159,879
454,173
104,868
1,310,707
37,866
833,109
506,689
268,696
6,532,666
560,290
655,268
33
455,426
4,650,409
i,276,9i8
2, 186,384
840,555
583,793
78,375
773,160
49,831
1, 625, 795
813,165
1,001,051
38,502
11,987
268,453
42,969
628,824
1,308,502
117, 237, 83S
„ «nd °4 give amount oi foreign coins melted
Note.— The foregoing table includes all coinage. Tables -3 and ~ gi
and amount of domestic coins by countries reporting.
104
REPORT OF THE DIRECTOR OF THE MINT.
No. 19. Deposits of gold at United States mints and assay offices since 1873
Fiscal
year
ended
June 30—
Character of gold deposited.
Total.
Domestic-
bullion.
Domestic
coin.
Foreign
bullion.
Foreign coin.
Surplus bul¬
lion, grains,
jewelers'
bars, old
plate, etc.
1873 .
1874 .
1875 .
1876 .
1877 .
1878 .
1879 .
1880 .
1881 .
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
1889 .
1890 .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898 .
1899 .
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
1912 .
Total.
$28,868,569. 78
29.736.387.82
34,266,124. 52
37.590.529. 39
43.478.103.93
48,075,123. 76
38,549,705. 89
35.821.705.40
35,815,036.55
31,298,511.97
32,481,642. 38
29,079,596. 33
31.584.436.64
32.456.493. 64
32,973,027.41
32,406,306. 59
31.440.778.93
30,474,900. 25
31.555.116. 85
31.961.546.11
33.286.167.94
38.696.951.40
44.371.949.83
53,910,957. 02
60,618,239. 77
69,881,120. 57
76.252.487.23
87.458.836.23
92.929.695. 86
94,622,078.39
96.514.298.12
87,745,626.63
101,618,315.38
103.83S.268. 01
114,217,462.44
111,735,877. 77
119,727.439. 13
104,974,558. 73
120,910,246.77
119,338,150.33
$27,116,948. 27
6.275.367.29
1,714,311.50
417.947.15
447,339.68
301,021.79
198,083.17
209,328.82
440.776. 97
599,356.80
374,129.23
263,117.17
325.210. 97
393,545.28
516,984.63
492,512.60
585,066.87
655,474. 96
583.847.16
557,967.86
792,470. 43
2.093,615.46
1,188,258. 21
1,670,005.53
1,015,314.39
1,187,682.99
1.158,307.57
1,389,096.68
1,116,179.86
1,488.448.16
960,907 95
2,159,818. 57
3,404,966.63
1,514,291.19
2.754.283.29
3.989.772.90
3,432,288. 62
3.603.139.90
2,949,198.68
3,496,769.41
$426,107.44
3,162,519. 92
739,439.66
1,141,905. 76
1,931,163.12
2,068,679. 05
1,069,796. 89
21,200,997.23
37,771,472. 26
12,783,807.04
4,727,143. 22
6,023,734.45
11,221,846. 45
4,317,068.27
22,571,328. 70
21,741,04 2. 44
2,136,516. 66
2,691,932.29
4,054,822.86
10,935,154. 69
2.247,730. 78
15.614,118.19
14,108,435. 74
6,572,390.14
9,371,521.03
26,477,370.06
30,336,559. 47
22.720.150.22
27,189,659.12
18,189,416.90
16,331,058. 92
36,802,224. 39
17,645,526. 82
36.317,864.38
36,656,545.85
71,774,350.81
16,021.521.02
15, 761,852. -12
35.673.116. 23
20,914,227.09
$518,542.14
9,313,882. 47
1,111,792. 26
2,111,083.80
2,093,260. 73
1,316,461.09
1,498,819.71
40.426.559.63
55,462,385. 74
20,304,810. 78
6,906,083. 80
9,095, 461.45
7,893,217.77
5,673,565. 04
9.896.512.28
14,596,885.03
4.447,475.99
5.298,773. 93
8,256,303.80
14,040, 187. 70
6.293,296.33
12,386,406.81
2,278,614.07
3,227,409.06
13,188,013.86
47,210,077.84
32,785,152. 48
18.834.495.53
27,906, 489.13
13,996.162. 21
8.950.595.28
46.152.783.87
15.141,678.08
6.648.511.63
17,221,251.40
13,684,426. 46
1,034,377.62
405,225. 55
10,066,643. 02
2.155.232.53
$774,218. 25
654,353.56
724,625.96
681,819. 32
837,911.25
907,932.20
937,751.14
1,176,505. 77
1.343.430. 93
1.770.166. 36
1,858,107. 42
1.864.769. 26
1.869.363.26
2,069,077.00
2,265,219.85
2.988.750. 90
3.526.597. 31
3,542.013.83
4,035.710.15
3,636,603.68
3,830,176.02
3,118.421.45
3,213,809. 43
3,388,622.06
2.810,248.66
2.936.943. 37
2.964.683.90
3.517.540.93
3.959.656.64
4,284,724.22
4.247.582.64
4,892,930.8 8
5,568,482. 95
4.790.558.31
5,731,111.55
6,231,547. 01
5,341,603.82
5.626,330.84
5,783,885. 74
6,025,501.79
$57,704,385.88
49,142,511.06
38,556,293.90
41,943,285. 42
48,787,778. 71
52,669,217.89
42.254.156.80
98,835,096.85
130,833,102.45
66,756,652. 95
46,347,106. 05
46,326,678.66
52,894,075.09
44,909,749.23
68,223,072. 87
72,225,497. 56
42,136,435. 76
42,663,095. 26
48,485,800.82
61,131,400.04
46,449.841.50
71,909,513.31
65,161,067.28
68.769.383.81
87,003,337. 71
147,693,194.83
143,497,190.65
133,920,119. 59
153,101,680.61
132,580,829.88
127,004,442. 91
177,753,384.34
143,378,969.86
153.109.493. 52
176.580.654.53
207,415,974. 95
145,557,230. 21
130,371,107.44
175,383,090.44
151,929,881.15
2,412,562,371.69
83,833,154.59 649,442,117.98
519,828,907.90 J
126,729,289.61 3
t, 791, 395, 841. 77
OPERATIONS OF THE MINT SERVICE.
No. 20 • — Deposits of silver at United States mints and assay offices since 1885.
Character of silver deposited.
Fiscal year ended
June 30—
Domestic
bullion.
Domestic
coin.
Foreign
bullion.
Foreign coin.
Surplus bul¬
lion, grains,
jewelers’
bars, old
plate, etc.
Total.
1£§5 .
Fin* ounce*.
24,943,394
25, 101,639
Fine ounce*.
678,741
Fine ounce*.
1,627,619
Fine ounces.
867,856
Fine ounces.
336,981
Fine ounce*.
28,454,591
1886 .
216,015
1,145,017
628,545
361,316
27,452,532
1887 .
29,293,372
5,848,-585
1, 127,213
271,166
396,656
36,936,992
1888..- .
1SS9 .
28,921,649
29,606,387
29,187, 135
50,667,116
56,817,548
1,202,177
394,346
1,290,390
1,063,900
67,549
328,276
485,190
502,223
31,966,955
31,895,132
1890 .
466,302
1,852, 155
951,162
526,270
32,983,024
1891 .
637,652
1,767,908
1,970,912
633,073
55, 676, 661
64,332,725
65, 149,604
22, 194,459
11,783,088
9,027,623
7,324,935
3,826,003
12,866,108
10,256,524
11,204,311
5,456,868
16,794,981
18,116,400
16,703,378
8,506,377
29,310,560
29,517,051
16,225,115
5,134,023
5,539,701
7,827,233
1892 .
5,036,246
1,556,618
349,652
572,661
582,728
467,958
580,125
604,386
473,755
249,468
484,751
557,831
567,647
575,430
627,108
652,015
739,310
632,544
636,722
648,007
520,715
460,935
498,614
540,117
1893 .
56,976,082
15,296,815
6,809,626
4,420,770
3,914,98-5
2,116,690
5,584,912
4,977,978
2,466,749
1,425,060
12,523,630
9,991,187
4,923,655
5,346,912
1,738,711
50o, 1*1
1894 .
5,012,060
994,901
422,725
1885 .
3,015,905
1,362,141
15,291
1896 .
3, 170,768
680,757
150,942
1897 .
2,208,953
626,085
101, 157
1898 .
1,243,050
209,987
6,808
1899 .
6,060,986
716,077
19,382
1900 .
3,587,992
1,088,019
44,704
4,250,196
29,265
21,869
*4,039, 100
5 7,796,761
M, 348, 991
*4,963,403
*9,005,007
l* 7,342,229
1,404,882
ii 627,840
i* 235,229
1901 .
2,613,570
2,275,090
1,306,149
1902 .
1,152,023
1903 .
» 2,511,911
»2,072,397
1,110,463
1904 .
1,361,701
1905 .
<1.337,242
•960,801
1,906,410
1906 .
2,398,871
20,388, 163
16,114,553
5,375,389
1,547,145
3,220,236
5,635,513
3, 165, 170
1907 .
770,268
2,552,003
1908 .
786,085
2,963,399
1909 .
659,935
2,326,847
1910 .
548,821
1,172,240
1911 .
1912 .
393,906
M 459, 141
799, 105
957,233
Total .
. 460,646,249
59,515,858
39,620,241
47,766,070
14,914,536
622,462,954
- - f
1 Includes 461,686 fine ounces Hawaiian coin.
1 Includes 148,788 fine ounces Hawaiian coin.
* Includes 6,901 fine ounces Philippine special assay coins.
4 Includes 3,647 fine ounces Hawaiian coin. -
# Includes 3,456 fine ounces Philippine special assay co
* Includes 3,895 fine ounces Hawaiian coin. *
l Includes 2,663 fine ounces Philippine special assay co . . . rp^maee
l Includes 4,680,791 fine ounces Philippine corns. ^ fine ounces Philippine corns for reco s •
• Includes 3,41 i fine ounces Philippine assay corns and n ounces Philippine corns for reco*^
“ Includes5,739 fine ounces Philippine assay corns and ounces Fhiiippme corns for recoinage
" Includes 836 fine ounces Philippine assay corns an , . for recoinage,
j? Includes 447 fine ounces Hawaiian coin. , 227 127 fine ounces Philippine co
“ Includes 168 fine ounces Philippine assay coins and W
106 REPORT OF THE DIRECTOR OF THE MINT.
No. 21 — Coinage of gold and silver of the United States since 1S7S, by fiscal years.
Fiscal years.
1873.
1S74.
1875.
1876.
1877.
1S78.
1879.
1550.
1551.
1552.
1883.
1884.
1885.
1SS6.
1887.
1SSS.
1SS9.
1890.
1591 .
1592.
1893.
1894.
1595.
1596.
1597.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905..
1906..
1907..
1908..
1909..
1910..
1911..
1912..
Gold.
Fine ounces.
Total.
1.705.187
2,440.165
1.623,173
1.846,907
2,132,283
2,554,151
1,982,742
2,716,630
3,808,751
4,325,375
1,73S,449
1,351,250
1.202.657
1,648,493
1,083,275
1,372,117
1.235,687
1.065,302
1,169,330
1,717,650
1,453,095
4,812,099
2, 125, 2S2
2,S4S,247
3,465,909
3,126,712
5,233,071
5,221,458
4,792,304
2,99S,313
2,211,791
10,091,929
3.869.211
2,563,976
4,279,701
9,541,406
5.233.212
2,301,628
5,753,022
616,737
Value.
121,258,677
$35,249,337.00
50,442,690.00
33,553,965.00
38. ITS, 963. 00
44.078, 199.00
52,798.980.00
40,986,912.00
56, 157,735.00
78,733,864.00
89,413.447.00
35,936,928.00
27,932.824.00
24,861,123.00
34,077,380.00
22.393,279.00
28,364,171.00
25,543,910.00
22,021,748.00
24,172,203.00
35,506,987.00
30,03S, 140.00
99,474,913.00
43,933,475.00
5S, 878, 490. 00
71,646,705.00
64,634,865.00
10S, 177, 180. 00
107,937,110.00
99,065,715.00
61,980,572.00
45,721,773.00
208,618,642.00
79,983,692.00
53,002,097.50
79,622,337.50
197.238.377.50
108, ISO, 092. 50
47,578,875.00
118.925.512.50
12,749,090.00
2,497,792,299.50
Fine ounces
consumed.
2.179,S33
4,558,526
7,650,005
14.22S.S51
21,239,880
21.623.702
21,059,046
21,611,294
21.383,920
21,488, 148
22,266,171
22.220.702
22,296,S27
23,211,226
26,525,276
26,331,176
26,659,493
2S, 430. 092
29,498,927
11,259.863
9,353,787
4,358,299
6,810,196
^ 8,651,384
18,659,623
12,426,024
20,966,979
23,464.817
26,726,641
22,756, 7S1
19,705,162
13,396,894
6,600,068
2,905.340
9,3S5,454
11,957,734
8,024,984
3, 1 OS, 753
2,311,709
6,984,479
Silver.
Dollars coined.
634,278,066
$977,150
3.558.900
5,697,500
6,132.050
9.162.900
19,951.510
27,227,500
27,933,750
27,637,955
27,772,075
2S.111,119
28,099,930
28.528,552
29.83S.905
33,266.831
32, < IS, 673
33,793.860
35,923,816
36,232,802
8,329,467
5,343,715
758
3,956,011
7,500,822
21,203,701
10,002,780
18,254.709
IS, 294,984
24,298,850
19.4O2.SO0
17,972,785
10,101,650
310
607,259,120
Subsidiary
coined.
$1,968,645.50
2,394.701.39
4,372,868.00
12.994.452.50
19,387.035.00
8.339.315.50
3S2.50
8,687.50
12.011.75
11,313.75
724,351. 15
673,457.80
320, 407.65
1S3.442.95
1,099,652.75
1,417,422.25
721.6S6.40
892,020.70
2,039,218.35
6.659.811.60
7,217,220.90
6,024.140.30
5,113,469.00
3,939, S19.20
3, 124, 0S5. 65
6, 4S2. S04. 00
9,466,877.65
12.S76, 849. 15
10,966,648.50
10,713,569.45
8,023,751.25
7,719,231.00
9.123.660.60
4,016,368. 10
12.974.534.25
16.530.477.25
11,093.810.00
4.297.567.25
3, 195, 726. 40
9. 655.405. 25
226, 776,900. 74
OPERATIONS OF THE MINT SERVICE
107
No. 22* — Coinage of the mints of the United States , authority for coining , changes in
weight and fineness, act discontinuing same , and amount coined for each denomination
of coin, since organization, 1792 to June SO, 1912.
Denomination.
GOLD COINS.
Double eagle ($20). .
Eagle ($10) .
Act authorizing coinage or
change in weight or fineness.
Half eagle ($5) .
Quarter eagle($2.50)
Three-dollar piece..
One dollar .
One dollar. Louis¬
iana Purchase
Exposition.
Dollar. Lewis and
Clark Exposition.
Mar. 3,1849 .
Apr. 2,1792 .
June 28,1834 .
Jan. 18,1837 .
Apr. 2,1792 .
June 28,1834 .
Jan. 18,1837 .
Apr. 2, 1792 .
June 28, 1834 .
Jan. 18, 1837 .
Feb. 21, 1853 (act discontinu¬
ing coinage Sept. 26, 1890).
Mar. 3, 1849 (act discontinu¬
ing coinage Sept. 26, 1890).
June 28, 1902 . 1 .
Weight
(grains).
516
270
258
135
129
67.5
64.5
Total gold .
SILVER COINS.
Dollar.
Trade dollar2.
Lafayette dollar. . . .
Half dollar .
Columbian half dol¬
lar.
Quarter dollar...
Apr. 13, 1904.
Columbian quarter
dollar.
Twenty-cent piece.
Dime .
Apr. 2.1792 . .........
Jan. 18, 1837 (act discontinu¬
ing coinage Feb. 12, 1873).
Feb. 28, 1878 .
July 14, 1890 . .........
Feb. 12, 1873 (act discontinu¬
ing coinage Feb. 19, 1887).
Mar. 3,1899 .
Apr. 2, 1792 .
Jan. 18, 1837 .
Feb. 21,1853 .
Feb. 12, 1873 .
Aug. 5, 1892 .
Apr. 2, 1792 .
Jan. 18, 1837 .
Feb. 21,1853 .
Feb. 12, 1873 .
Mar. 3, 1893 .
Half dime.
Three-cent piece.
Mar. 3, 1875 (act discontinu
ing coinage May 2, 1878).
Apr. 2,1792 .
Jan. 18, 1837 .
Feb. 21,1853 .
Feb. 12, 1^73 .
Apr. 2. 1792 .
Feb. 2f, 18.53 (act discontinu-
ing coinage Feb. 12, 1873)
Mar. 3, 1851 . . .
Mar. 3, .1853 (act discontinu-
ing coinage Feb. 12, 1873).
Total silver..
i Amount coined to Feb. 12, 1873, $8,031,238.
Silver dollar coinage under acts oi—
Apr. 2, 1792 .
Feb. 28, 1878 .
July 14, 1890 .
Mar. 3, 1891 .
77.4
25.8
25.8
25.8
Fine¬
ness.
.900
•916L
.899225
.900
. 916?
.899225
.900
.916!
Pieces.
.900
.900
.900
.900
.900
416
412$
.8924
.900
420
412$
208
206$
192
3 192.9
192.9
104
103$
96
6 96. 45
96. 45
6 77. 16
41.6
41$
38.4
7 38.58
20.8
20|
19.2
12|
11.52
.900
.900
.8924
.900
.900
.8924
.900
.900
.900
.8924
.900
.8924
.900
.750
.900
117,629,365
49,611,289
74,360,570
15,580,208
539,792
19,499,337
250,000
60,000
277,530,561
i 578,303,848
35,965,924
50,000
373,336,150
5,000,000
394,468,810
40,000
1,355,000
677,088,035
. 97,604,388
. 42,736,240
2,205,948,395
Total amount
coined to June
30, 1912.
!, 352, 587, 300. 00
496,112,890.00
371,802,850.00
38,950,520.00
1,619,376.00
19,499,337.00
250,000.00
60,000.00
3,280,882,273.00
i 578,303,848.00
35,965,924.00
50,000.00
186,668,075.00
4 2,500,000.00
98.617.202.50
10,000.00
271,000.00
67.708.803.50
4,880,219.40
1,282,087.20
976,257,159.60
. $8,031,238
*.*. . $378,166,793
. 187,027,345
5,078,472
. . : _ _ _ 570,272,610
. 578,303,848
a Coinage limited to export demand, joint resolution J > - ,
3 12$ grams, or 192.9 grains,
4 Total amount coined.
6 61 grams, or 96.45 grains,
• 5 grams, or 77.16 grains.
7 2$ grams, or 38.58 grains,
108
REPORT OF THE DIRECTOR OF THE MINT,
No. 22. — Coinage of the mints of the United States, authority for coining , changes in
iceight and fineness, act discontinuing same, and amount coined for each denomination
of coin, since organization, 1792 to June SO, 1912 — Continued.
Denomination.
MINOR COINS.
Five cent (nickel)..
Three cent (nickel).
Two cent (bronze)..
Cent (copper) .
Cent (nickel).
Cent (bronze) .
Half cent (copper).
Total minor..
Total coinage
Act authorizing coinage or
change in weight or fineness.
Mav 16, 1866 .
Mar. 3, 1865 (act discont inn¬
ing coinage Sept. 26, 1890).
Apr. 22, 1864 (act discontinu¬
ing coinage Feb. 12, 1873).
Apr. 2. 1792 .
Jan. 14, 1793 .
Jan. 26, 1796 (act discontinu¬
ing coinage Feb. 21,1857).*
Feb. 21, 1857 (act discontinu¬
ing coinage Apr. 22, 1864).
Apr. 22, 1864 .
Apr. 2, 1792 . .
Jan. 14,1793 . .
Jan. 26, 1796 (act discontinu¬
ing coinage Feb. 21 , 1857).,#
Weight
(grains).
77.16
30
96
264
208
168
72
48
132
104
84
Fine¬
ness.
8
(*)
(<)
(5)
Pieces.
722,983,121
31,378,316
45,601,000
156,288,744
200,772,000
2,068,452,183
7,985,222
3,233,460,586
Total amount
coined to June
30, 1912.
$36,149,156.05
941,349.48
912,020.00
1,562,887. 44
2,007,720.00
20, 6S4,521.83
39,926.11
62,297,580.91
5, 716, 939, 542 4, 319, 437, 013. 51
* Composed of 75 per cent copper and 25 per cent nickel.
3 Composed of 95 per cent copper and 5 per cent tin and zinc.
* By proclamation of the President, in conformity with act of Mar. 3, 1795.
* Composed of 88 per cent copper and 12 per cent nickel.
No. 23. — Foreign coins melted by various countries.
The foreign gold and silver coins melted by the countries of the
world during the calendar years 1909, 1910, and 1911, so far as have
been reported to this bureau, are exhibited in the following table:
Countries.
1909
1910
1911
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
United States .
Austria-Hungary .
$147,413
11,345
$3,458,741
$2,660,390
$SS5,699
89,550,494
$5,049
Canada .
7,037
France .
942,191
Great Britain .
9,726,989
94.689
19,820
Germany .
285
5,955
260,312
15,981
8,076,902
•
Japan..’. .
Peru . .
324,543
55,173
995,079
679,974
Russia .
100
132
Turkey .
9,728,345
15,463,348
Total .
8,519, 193
3,7S3,284
- - .1 —
22,236,233
941,104
26,015,958
1,627,214
109
OPERATIONS OF THE MINT SERVICE.
No. 24. — Recoinages of the world.
The following table, compiled from official sources, exhibits ap¬
proximately the gold and silver coins withdrawn by the principal
countries of the world in the calendar years 1909, 1910, and 1911, so
far as has been reported to this bureau:
Countries.
United States .
Australia . .
Austria-Hungary .
Belgium . . .
Canada .
Denmark .
France .
Finland .
Germany .
Great Britain .
India (British) .
Italy .
J apan . . . .
Mexico .
Netherlands .
Norway .
Russia .
Siam .
Sweden .
Switzerland .
Turkey .
1909
Gold.
12,704,802
914,941
3,388
1,444,379
4,933,160
14,590,500
12,924
Total.
1,136
24,605,230
Silver.
$759,677
1,520
2,191,796
219, 100
2, 101,895
3,322,111
3,132,457
5,319,499
535,065
***i4,606
2,031,692
12,772
23,007
115,800
19,780,997
1910
Gold.
$3, 388, 025
749,130
3,483
3,556,978
5,111,431
13,139,550
1,237
100
*355*748
26,305,682
Silver.
$684,418
1,434
1,628,920
294,395
19,691
3,872,857
2,748,395
7,317,423
4,832,069
2, 184,228
17," 420
1,957,615
33,258
25,592,123
1911
Gold.
$3,250,538
75,376
2,201
9,543
986,390
3,630,069
11,436,275
. . 83
139
*2i7*554'
19,608,168
Silver.
$1,107,292
220,496
2,442,976
45.4S7
150.534
1,069,606
4,632
2,973,840
6,538,830
57,938
3,487,957
852, 576
1,929,600
20,881,764
76347°— 13 - 8
110
REPORT OF THE DIRECTOR OF THE MINT,
No. 25. — Coinage of the mints of the United States
[Coinage of the mint at Charlotte, N. C., from its organization, 1838, to its suspension, 1861.]
Calendar years.
Gold.
Total value.
Half eagles.
Quarter eagles.
Dollars.
1838 to 1861 .
$4,405, 135
*544 qis
si no iqc
$5,059, 188
WTXj (71U
«S>lUi7, loo
[Coinage of the mint at Carson City from its
Calendar years.
Gold.
Silver.
Double eagles.
Eagles.
Half eagles.
Dollars.
Trade dollars.
1870 to 1893 .
$17,283,560
$2,997,780
$3,548,085
$13,881,329
$4,211,400
[Coinage of the mint at New Orleans from its organization, 1838, to
Calendar years.
Gold.
Silver.
Double
eagles.
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dollars.
Dollars.
1838 to 1900 .
$16,375,500
$19,804,320
S4, 447, 625
$72,000
$3,023, 157.50
$1,004,000
$144,395,529
12,590,000
13,320,000
8.636,000
4,450,000
3,720,000
1900 .
1901 .
1902
720,410
1903:::;;;;;;::;;;:;'
1,127,710
1,089,500
1904 .
1905...
1907 . ”
1908 .
1909 .
Total .
.
"in, ‘666
.
.
.
.
16,375,500
23,610,890
4,618,625
72,000
3,023, 157. 50
1,004,000
187,111,529
[Coinage of the mint at San Francisco from
Calendar
years.
1854-1900
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
Total
Gold.
Silver.
Double
eagles.
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
Dol¬
lars.
Dollars.
Trade
dollars.
Half
dollars.
$929,075,020
49,190,000
31,920,000
35,072,500
19,080,000
102,683,500
36,260,000
41,315,000
43,316,000
440,000
55,498,500
42,565,000
15,515,000
$74, 122,060
810,000
28, 127, 500
4,695,000
5,380,000
$78,244,540
1,645,000
18, 240, 000
4,695,000
9,275,000
485,000
4,403,500
2, 990, 000
$186,300
Sl,861,255
$90, 232
$98,624,073
3,549,000
2, 284, 000
1,530,000
1.241,000
2, 304, 000
$26,647,000
$20,575,031.50
1,280, 161.00
423,522.00
730,335.00
960,386. 00
276,519.00
1,247,000.00
870,077.00
625,000.00
822, 414. 00
882, 000. 00
974,000.00
636, 000. 00
.
.
.
3.692.500
4, 570, 000
2, 105,000
598,500
2. 923. 500
8,110.000
510,000
1.486,000
3,851,000
7,080,000
1,401,930,520
135,644,060
132,805,040
186,300
1,861,255
90,232
109,523,073
26,647,000
30,302,445.50
Calendar years.
1908 .
1909 .
1910 .
1911 .
Minor coinage.
Five cents.
.
.
.
• . . .
. .
.
.
.
Total .
OPERATIONS OF THE MINT SERVICE,
111
from their organization, by calendar years.
[Coinage of the mint at Dahlonega, Ga., from its organization, 1838, to its suspension, 1861.)
Calendar years.
Gold.
Half eagles.
Three dollars.
Quarter eagles.
Dollars.
1S38 to 1861 .
$.5, 536, 055
$3,360
$494,625
$72,529
Total value.
16,106,569
organization, 1870, to its suspension, June 30. 1S93.)
Silver.
Total coinage.
Total value.
Half dollars.
Quarter dol¬
lars.
Twenty
cents.
Dimes.
Gold.
Silver.
$2,654,313.50
$2,579,198.00
$28,658.00
$2,090,110.80
$23,829,425.00
$25,445,009.30
$49,274,434.30
its suspension, 1861, and from its reopening, 1879, to April, 1909.)
Silver.
Total coinage.
Half
dollars.
Quarter
dollars.
Dimes.
Half
dimes.
Three
cents.
Gold.
Silver.
*28, 720, 038
1,372,000
562,000
1,263,000
1,050,000
558,800
252,500
1,223,000
1,973,300
2,080,000
402,700
$7,452,250
854,000
403,000
1,187,000
875,000
614,000
307,500
514,000
1,140,000
1,561,000
178,000
$3,202,590.60
201,000.00
562,000.00
450,000.00
818,000.00
$812,327.50
$21,000
$44,726,002.50
$184,604,335.10
15,017,000.00
14,847,000.00
11,536,000.00
7,193,000.00
4,892,800.00
900,000.00
1,998,000.00
3,619,100.00
4,419,900.00
809,400.00
720,410.00
1,089,500.00
340,000.66
261,000.00
505,800.00
178,900.00
228,700.00
40,117,338
15,085,750
6,807,990.00
812,327.50
21,600
48,704, 172.50
249,956,535. 10
Total value.
$229,
15,
15,
11,
8,
5,
2,
3,
4,
1,
390,937.60
017,000.00
567,410.00
536,000.00
320, 710.00
982,300.00
900, (XX). 00
866,950.00
619, 100.00
419,900.00
040,400.00
298,660,707.60
its organization, 1854, to Dec. 31, 1911-1
Silver.
Quarter
dollars.
Twenty
cents.’
SS, 322, 569. 00
404,640.25
18,166.00
381, 153. 00
259,000.00
$231,000
471,000.00
340,000.00
196,000.00
337,000.00
247, 000.' 66
H>036,534.25
231,000
Dimes.
$4,798,728.
516,827.
59,302.
207,000.
61,330.
80,000.
685,519.
313,664.
317,847.
322,000.
100,000.
124,000.
352,000.
7,938,218.90
Half
dimes.
$119, 100
119,100
Total coinage.
Gold.
$1,083,579. 407
’ 51 645,000
78.287.500
44.462.500
33,735,000
103,168,500
44,356,000
48,875,000
45,421,000
1 448,500
59,908,000
54,526,000
23,105,000
Silver.
$159,317,502.
5,801,634-
2,784,990.
^ 848, 488.
2,521,716.
2,660,519.
2 403,519.
1 183,741.
1,282,847.
1,340,414.
1 319, 000-
1,098,000.
1,235,000.
Minor.
$11, 1S0-
26,180.00
60,450.00
40,260.00
Total value.
81,
47,
36,
105,
46,
50,
46,
2,
61,
55,
24,
,896,909.30
440,634.25
072,490.20
,310,988.00
,256,716.00
,829,019.00
759,519.90
058,741.00
,703,847.00
; 800,064. 00
,253,180.00
,684,450.00
,380,260.00
Three cents.
Two cents.
Minor coinage.
Cents.
$11, 15°. 00
26,180.00
an 450.00
$11,150.00
26 180.00
60.450. 00
112
REPORT OF THE DIRECTOR OF THE MINT,
No. 25. — Coinage of the mints of the United States
[Coinage of tho mint at Philadelphia from
Calendar years.
1793 to 1900
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
190S .
1909 .
1910 .
1911 .
Total
Gold coinage.
Double
eagles.
$522,641,300
37,491,680
2,230,520
625,080
5,748,560
125,135,940
1, ISO, 220
1,393,800
36,495,620
88,558,200
3,225,640
9,643,340
3,947,000
838,316,900
Eagles.
Half
eagles.
Three
dollars.
Quarter
eagles.
$218,387,890
2,939.600
17, 18S, 250
825,130
1,259,260
1,620,380
2,010, 7S0
1,654,970
14,433,790
3,749,860
1 , S4S, 630
3, 1S7,040
5,055,950
274,161,530
$157,644,765
7,028,650
3,080,200
862,810
1,135,120
1,960,680
1,511,540
1,744,100
3,130,960
4.999,430
3,135,690
3,021,250
4,575,695
193,830,890
$1,357,716
1,357,716
$23,023,902.50
168,012.50
228.307.50
334.332.50
503. 142. 50
402, 400. 00
544,860.00
441,225.00
841,120.00
1.412.642.50
1.104.747.50
1,231,705.00
1.760.477.50
31,996,875.00
Dollars.
$18,223,438
1 75,000
1 175,000
2 25,000
235,000
18,533,438
Calendar years.
Minor coinage.
Five cents.
Three cents.
Two cents.
1793 to 1900 .
*17, 444,363.35
1.362,799.75
1.324,010 65
$941,349. 48
$912,020.00
1900 . .
1901 .
1902 .
1,574,028.95
1,400,336.25
1.070 249 °0
1903 .
1904 . .
1905 .
1906 . .
*| Vl V/j I
1.491,363.80
1,930,686.25
1,960,740.00
1,134,308.85
579,526.30
1,508,467.65
1,997,968.60
1908 .
1909 . .
1910 . .
.
.
1911 .
Total .
.
.
34, 758, 849. 60
941,349. 48
912,020.00
[Coinage of the mint at Denver from
Calendar years.
Gold coinage.
Double
eagles.
Eagles.
Half
eagles.
Quarter.
eagles.
1906 .
112, 405,000
16,845,000
20,265,000
1,050,000
8, 580, (XX)
16,930,000
*9.810,000
10,300,000
10,465,000
1,215,400
23,566,400
301,000
$1,600,000
4,440,000
740, OCX)
17,117.800
968,000
362, 500
1910 . .
Total .
*139,200
76,075,000
55,657, S00
25,228,300
139,200
— - - — - - - -
> Louisiana Purchase Exposition, » Lewis and Clark Exposition.
OPERATIONS OF THE MINT SERVICE
113
from their organization, by calendar year — Continued,
its organization, 1793, to December 31, 1911.]
114
REPORT OF THE DIRECTOR OF THE MINT
No. 25.— Coinage of the mints of the United States
RECAPITULATION.
Calendar years.
1793-95 .
1796 .
1797 .
1798 . .
1799 . .
1800 . .
1801 . .
1802 . .
1803 . .
1804 .
1805 . ; .
1806 . . .
1807 . .
1808 . .
1809 . . .
1810 . .
1811 . .
1812 . .
1813 . .
1814 . .
1815 . .
1816 . .
1817 . .
1818 . 1." .
1819 . .
1820 . .
1821 . .
1822 . .
1823 . .
1824 . .
1825 . .
1826 . .
1827 . .
1828 . .
1829 . .
1830 . .
1831 . .
1832 . .
1833 . .
1834 . .
1835 . .
1836 . .
1837 . .
1838 . ; .
1839 . . .
1840 . ; .
1841 . .
1842 . .
1843 . .
1844 . .
1845 . .
1846 . .
1847 . .
1848. . .
1849 . .
1850 . .
1851 . ; .
1852 . .
1853 . .
1854 . .
1855 . .
1856 . .
1857 . .
1858 . .
1859 . .
1860 . .
1861 . .
1862 . ; .
1863 . .
1864 . ;; .
1865 . .
1866 . .
1867 .
1868 . .
1869 .
Gold coinage.
Double
eagles.
Eagles.
$27,950
60,800
91,770
79,740
174,830
259,650
292,540
150,900
89,790
97,950
Half
eagles.
$43,535
16,995
32,030
124,335
37,255
58,110
130,030
265,880
167,530
152.375
165,915
320. 465
420.465
277,890
169.375
501.435
497,905
290.435
477,140
77,270
3,175
Three
dollars.
Quarter
eagles.
$165.00
4,390.00
1,535.00
1,200.00
6,530.00
1,057. 50
8.317. 50
4.452. 50
4,040.00
17,030.00
6,775.00
Dollars.
$26,225,220
48,043,100
44.860.520
26.646.520
18,052,340
25,046,820
30,437,560
28.797.500
21,873,480
13,782,840
22,584,400
74,989,060
18,926,120
22,187,200
19,958,900
27,874,000
30.820.500
23,436,300
18,722,000
17,238,100
Carried forward . I 560,502,480
72,000
382. 450
473,380
656,310
1,089,070
2,506,240
1,250,610
736,530
1,018, 750
14,337,580
1,813,340
6,775,180
3,489,510
4,393,280
2,811,060
2,522,530
2,305,760
1,487,010
1,429,900
481,060
343,210
253,930
278,830
1,287,330
234,950
112. 450
60,800
207,050
237,800
121,400
241,550
82,850
64,819,680
242,940
258, 615
1,319,030
173,205
88,980
72,425
86,700
145,300
90,345
124,565
140,145
287,210
631,755
702,970
787,435
968,150
3,660,845
1,857,670
2,765,735
1,035,605
1,600, 420
802,745
1,048,530
380,945
655,330
4,275,425
4,087,715
2,743,640
2,736,155
5,382,685
1,863,560
1,184, 645
860,160
2,651,955
3,689,635
2,305,095
1,513,235
1,257,090
1,806, 665
1,232,970
439,770
361,235
352,365
3,332,130
69,825
97,360
40,540
144,535
253,200
179,600
288,625
163,925
67,470,880
16,120.00
$491,214
171.465
181,530
104,673
6,399
46,914
42.465
18,216,
17,355
15,117
8,040
3,495
12,090
7,950
14,625
7,575
6,500.00
11,085. 00
1,900.00
7,000.00
8,507.50
11,350.00
11,300.00
11,000.00
10,400.00
293,425.00
328,505.00
1,369,965.00
112,700.00
137,345.00
191.622.50
153.572.50
54.602.50
85,007.50
1.327.132.50
89,345.00
276.277.50
279,272. 50
482,060.00
98.612.50
111.147.50
895.547.50
3.867.337.50
3.283.827.50
3,519,615.00
1.896. 397.50
600, 700. 00
1.213. 117.50
796,235.00
144,082.50
142,220.00
0 164,360.00
3,241,295.00
300.882.50
27,075.00
7,185.00
62.302.50
105,175.00
78, 125. 00
94,062.50
84.612.50
1# 149, 123 126,065,402.50 19,040,007
$936, 7S9
511,301
3,658,820
2,201,145
4,384,149
1,657,016
824, 8S3
1,788,996
801,602
131,472
193,431
51,234
527,499
1,326,865
6.250
5,950
3,725
7, ISO
5.250
10,525
5,925
OPERATIONS OF THE MINT SERVICE
115
from their organization, by calendar years — Continued.
RECAPITULATION.
Silver coinage.
81 8833858888888888888
116
REPORT OF THE DIRECTOR OF THE MINT
No. 25. — Coinage of the mints of the United States
RECAPITULATION— Continued.
Gold coinage.
Calendar years.
Double
eagles.
Eagles.
Half eagles.
Three
dollars.
Quarter
eagles.
Dollars.
870..
.871.
.872. ,
.873.
1874.
L875.
L876.
1877.
L878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1S86.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899
1900
1901
Brought forward. . . .
1902.
1903.
1904.
1905.
1906.
1907.
1908
1909
1910
1911
Total
$560,502,480
22,819,480
20,456,740
21,230,600
55.456.700
33.917.700
32,737,820
46,386,920
43.504.700
45,916,500
28,889,260
17.749.120
14.585.200
23,295,400
24.980,040
19.944.200
13.875.560
22,120
5,662,420
21.717.320
16.995.120
19,399,080
25.891.340
19.238.760
27.178.320
48.350.800
45.163.120
43.931.760
57,070,220
54,912,900
73.593.680
86.681.680
34,150,520
35,697,580
24.828.560
227,819,440
37,440,220
55.113.800
96,656,620
109.263.200
59,774,140
60.788.340
36,392,000
$54,819,680
164.430
254.650
244,500
173,680
799,270
78,350
104,280
211,490
1,031,440
6, 120,320
21,715,160
48,796,250
24,740,640
2.595.400
2,110,800
4,815,270
10,621,600
8,706.800
8,030,310
4,298,850
755.430
1,956,000
9.817.400
20,132,450
26,032,780
7,148,260
2,000,980
12,774,090
12,857,970
21,403,520
3, 749, "600
46,036,160
5,520,130
7,766,970
2,709,880
5,703,280
16,903,920
26,838,790
14,813,360
5.987,530
34,863,440
5,866,950
$67,470,880
143,550
245,000
275,350
754,605
203,530
105,240
61,820
182,660
1,427,470
3,727,155
22,831,765
33,458,430
17,831,885
1,647,990
1.922.250
9,065,030
18,282,160
9,560,435
1,560,980
37,825
290,640
1,347,065
5.724,700
9,610,985
5,152,275
7.289.680
1,072,315
6,109,415
10,154,475
16,278,645
8,673,650
21,320,200
5,557,810
10,410,120
2.445.680
5,915,040
6,334,100
7,570,960
6,149,430
21,910,490
7.840.250
12.018,195
$1,149,123
10,605
3,990
6,090
75
125,460
60
135
4,464
246,972
9,090
3,108
1,650
4,620
2,820
3,318
2,730
3,426
18,480
15,873
7,287
$26,065,402.50
51.387.50
68,375.00
52,575.00
512.562.50
9,850.00
30,050.00
23,052.50
92,630.00
1,160,650.00
331,225.00
7,490.00
1,700.00
10,100.00
4,900.00
4.982.50
2.217.50
10,220.00
15,705.00
40,245.00
44,120.00
22,032.50
27,600.00
6.362.50
75,265.00
10,305.00
15.297.50
48,005.00
74,760.00
60.412.50
68,375.00
168,012.50
228.307.50
334.332. 50
503.142.50
402,400.00
544,860.00
441,225.00
841,120.00
1.412.642.50
1.104.747.50
1,231,705.00
1.899.677.50
$19,040,007
9,335
3.930
3,530
125,125
198,820
420
3,245
3,920
3,020
3,030
1,636
7,660
5,040
10,840
6,206
12,205
6,016
8,543
16,080
30,729
5 75,000
5 175,000
6 25,000
6 35,000
2,349,981,480
492,072,060
369,972, 130
1,619.376
38,060,027.50
19,809,337
i Includes $475,000 in Columbian coins.
* Includes $2,025,000 in Columbian coins.
* Includes $10,000 in Columbian coins.
« Includes 50,000 Lafayette souvenir dollars.
OPERATIONS OF THE MINT SERVICE
117
from their organization, by calendar years — Continued .
RECAPITULATION— Continued.
Silver coinage.
Trade
dollars.
$1,225,000
4,910,000
6,279,600
6, 192, 150
13.092,710
4,259,900
1,541
1,987
960
1,097
979
Dollars.
Half dollars.
$5,053,440 $95,509,2S4.50
445,462
1,117,136
1,118,600
296,600
35,965,924
22,495,550
27.560. 100
27,397,355
27,927,975
27.574.100
28,470,039
28, 136, 875
28,697, 767
31,423,886
33,611,710
31,990,833
34,651,811
38.043,004
23.562.735
6,333,245
1,455,792
3,093,972
862,880
19,876, 762
12,651,731
14.426.735
15, 182, 846
4 25,010,912
22,566,813
18, 160, 777
10.343.755
7 8,812, 650
578,353.848
829,758.50
1,741,655.00
866,775.00
1,593,780.00
1.406,650. 00
5,117.750.00
7,451,575.00
7.540,255.00
726.200.00
2,950.00
4.877.50
5.487.50
2,750.00
4.519.50
2.637.50
3,065.00
2,943.00
2,855. 00
6.416. 50
6.355. 50
6,295.00
100,300.00
1 1,652, 136.50
2 4,002,896. 00
3,667,831.00
2,354,652.00
1,507, 855.00
2,023,315.50
3,094,642.50
4.474.628.50
5,033,617. 00
3.119.928.50
4.454.723.50
3,149, 763.50
2,331,654. 00
1.830.863.50
5.426.414.50
5.825.587.50
5.819.686.50
2,529,025.00
1.183.275.50
1.686.811.50
Quarter
dollars.
$21,727,878.00
23.935.00
53.255.50
68. 762.50
414, 190. 50
215,975.00
1,278,375. 00
7.839.287. 50
6,024,927.50
849, 200. 00
3,675.00
3.738.75
3,243. 75
4,075.00
3.859. 75
2.218. 75
3.632.50
1.471.50
2.677.50
306, 708. 25
3. 177. 75
20.147.50
1,551,150. 00
2,960,331.00
32.583.831.75
2. 233. 448. 25
2.255.390.25
1.386.700.25
2,524.440. 00
3.497.331.75
3.994.211.50
3.822.874.25
2.644.369.25
4.617,589.00
3,551,516. 00
3,011,203.25
2,020,562. 50
2, 248, 108. 75
3,899, 143. 75
4.262. 136.25
4.110.662.50
936, 137. 75
1,410,535. 75
Twenty
cents.
$265,598
5, ISO
102
120
188, 104,442.50
98,376,086.25
271,000
Dimes.
$8,376, 184.10
52, 150.00
109,371.00
261,045.00
443,329.10
319. 151.70
2,406,570.00
3,015,115.00
1,735,051.00
187,880.00
1,510.00
3,735.50
2,497. 50
391,110. 00
767,571.20
393.134.90
257.711.70
658,409. 40
1.573.838.90
721.648.70
835.338. 90
1.133.461.70
2.304.671. 60
1.695.365. 50
759,219. 30
205,099. 60
225,088. 00
318,581.80
1,287.810. 80
2.015,324. 20
2.409.833.90
2.477,918.20
2,507, 350.00
2, 795, 077. 70
2.829.405.50
1.540. 102.70
2.480.754.90
2.976.504.60
3.453.704.50
2.309.954.50
1,448, 165.00
1,625,055.10
3.359,954.30
$4,529,818.90
26,830.00
82,493.00
189,247.50
51,830.00
Half dimes.
64,670,757. 00
$1,281,762.90
120.00
127. 80
58.50
18.00
Three cents.
4,880,219. 40
1,282,087.20
& Louisiana Purchase Lxposition.
* Final coinage^of standard Silver dollars of 300 pieces was made in December, 1904, at Philadelphia
Mint.
118
REPORT OF THE DIRECTOR OF THE MINT,
No. 25. — Coinage of the mints of the United States
RECAPITULATION — Continued.
Minor coinage.
Calendar years.
Five cents.
Three cents.
Two cents.
1798-1795 .
1796 .
1797 .
1798 .
1799 .
1800 .
1801 .
1802 .
1803 .
-
1804 .
1805 .
1806 .
1807 . • .
1808 .
1809 .
1810 .
1811 .
1812 .
1813 .
1814 .
1815 .
1816 .
1817 .
1818 .
1819 .
1820 .
1821 .
1822 .
1823 .
1824 .
1825 .
1826 .
1827 .
1828 .
1829 .
1830 .
1831 .
1832 .
1833 .
1834 .
1835 .
1836 .
1837 .
1838 .
1839 .
1840 .
1841 .
1842 .
1843 .
1844 .
1845 .
1846 .
1847 .
1848 .
1849 .
1850 .
1851 .
1852 .
1853 .
1854 .
1855 .
1856 .
1857 .
1858 .
1859 .
1860 .
1861 .
1862 .
1863 .
1864 .
1865 .
$341,460.00
144,030.00
117.450.00
97,560.00
48. 120. 00
$396,950.00
272, 800. 00
63,540.00
58,775.00
56,075.00
30,930.00
1866 .
S737, 125. 00
1,545,475. 00
1,440,850.00
819,750.00
1867 .
1868 .
1869 .
Carried forward .
4,543,200.00
748,620.00
879,070.00
OPERATIONS OF THE MINT SERVICE
119
from, their organization, by calendar years — Continued.
RECAPITULATION— Continued.
120
REPORT OF THE DIRECTOR OF THE MINT,
No. 25. — Coinage of the minis of the United States
RECAPITULATION — Continued.
Calendar years.
Minor coinago.
Five cents.
Throe cents.
Two cents.
Brought forward .
1870 .
$4,543,200.00
240,300.00
28,050.00
301,800.00
227,500.00
176,900.00
104,850.00
126,500.00
$748,620.00
40,050.00
18,120.00
25,860.00
35,190.00
23,700.00
6,840.00
4,860.00
$879,070.00
17,225. 00
14,425. 00
1,300.00
1871 .
1872 .
1873 .
1874 .
1875 .
1876 .
1877 .
1878 .
117.50
1,455.00
997.75
3,618.75
573,830.00
1,148,471.05
563.697.10
73,824.50
166.514.50
763. 182. 60
536,024.15
794,068.05
812.963.60
841.717.50
584.982.10
668,509.75
270.656.60
498,994.20
'142, 1 46. 00
1,021,436.75
626,604.35
1,301,451. 55
1,362,799. 75
1,324,010.65
1,574,028.95
1.400.336.25
1,070,249.20
1,491,363. 80
1.930.686.25
1,960,740.00
1,134,308.85
579,526. 30
1,508,467.65
1,977,968.60
70.50
1,236.00
748.65
32,417.25
759.00
318.27
169.26
143. 70
128.70
238.83
1,232. 49
646.83
1879 .
1880 .
1881 .
1882....* .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
1889 .
1890 .
1891 .
1892 .
1893 .
1894 .
1895 .
1896 .
1897 .
1898 .
1899 .
•
1900 .
1901 .
1902 .
1903 . .* .
1904 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
Total . . . .
34,758,849.60
941,349.48
912,020.00
OPERATIONS OF THE MINT SERVICE,
121
from, their organization, by calendar years — Continued.
RECAPITULATION— Continued.
Minor coinage.
Cents.
Half cents.
$4,680,577.44
52,750.00
39,295.00
40,420.00
116,765.00
141,875.00
135,280.00
79,440.00
8,525.00
57.998.50
162,312.00
389,649.55
392,115.75
385,811.00
455,981.09
232,617.42
117,653.84
176,542.90
452,264.83
374,944. 14
488,693.61
571,828.54
470.723.50
376.498. 32
466,421.95
167.521.32
383,436.36
390.572.93
504,663.30
498,230.79
536,000.31
668,337.64
796,111.43
873,767.22
850.944.93
613,280.15
807, 191. 63
960,222.55
1,081,386.18
334,429.87
1,176,862.63
1,528,462.18
1,178,757.87
$39,926.11
24,217,163.67
Total coinage.
Gold.
Silver.
Minor.
39,926.11
$729,047,572.50
23.198.787.50
21,032,685.00
21,812,645.00
57,022,747.50
35,254,630.00
32,951,940.00
46.579.452.50
43,999,864.00
49,786,052.00
39,080,080.00
62,308,279.00
96,850,890.00
65,887,685.00
29,241,990.00
23.991.756.50
27,773,012.50
28,945,542.00
23,972,383.00
31,380,808.00
21,413,931.00
20.467. 182.50
29,222,005.00
34.787.222.50
56,997,020.00
79,546, 160.00
59.616.357.50
47,053,060.00
76,028,485.00
77.985.757.50
111,344,220.00
99.272.942.50
101.735.187.50
47.184.852.50
43.683.792.50
233,402,400.00
49,638,400.00
78,793,045.00
131,907,490.00
131.638.632.50
88.776.907.50
104,723,735.00
50.176.822.50
3,271,514,410.50
$136,478,368.40
1.378.255.50
3,104,038.30
2.504.488.50
4,024,747.60
6,851,776.70
15,347,893.00
24,503,307.50
28,393,045.50
28,518,850.00
27,569,776.00
27.411.693.75
27.940.163.75
27,973, 132.00
29.246.968.45
28.534.866. 15
28.962. 176.20
32,086,709.90
35,191,081.40
33,025,606.45
35.496.683. 15
39.202.908.20
27,518,856.60
12,641,078.00
8,801,739.05
9,200,350.85
5,698,010.25
23,089,899.05
18,487,297.30
23,034,033.45
26,061,519.90
36.345.321.45
30.838.460.75
30,028, 167.20
19,874,440.00
15,695,609.95
6,332, 180.90
10,651,087.85
13.178.435.75
12,391,777.25
8,087,852.50
3,744,408.35
6,457,301.55
971,904,364.35
$10,891,393.55
350,325.00
99,890.00
369,380.00
379,455.00
342,475.00
246,970.00
210,800.00
8,525.00
58,186.50
165,003.00
391,395.95
428,151.75
960,400.00
1,604,770.41
796.483.78
191,622.04
343,186.10
1,215,686.26
912.200.78
1,283,408.49
1.384.792.14
1,312,441.00
961,480.42
1,134,931.70
438. 177.92
882,430.56
832.718.93
1,526,100.05
1.124.835. 14
1,837,451.86
2,031,137.39
2,120,122.08
2.447.796. 17
2.251.281.18
1,683,529.35
2,298,555.43
2,890,908.80
3,042, 126.18
1,468,738.72
1,756,388.93
3, 036, 929. 83
3,156,726.47
60,869,308.86
Total value.
$876,417,334.45
24,927,368.00
24.236.613.30
24.686.513.50
61,426,950. 10
42.448.881.70
48,546,803.00
71,293,560.00
72.401.434.50
78,363,088.50
66,814,859.00
90.111.368.70
125,219,205.50
94,821,217.00
60,093,728.86
53,323,106.43
56.926.810.74
61,375,438.00
60,379,150.66
65,318,615.23
58,194,022.64
61,054,882.84
58,053,302.60
48.389.780.92
66.933.690.75
89,184,688.77
66.196. 798. 31
70,975,677.98
96,041,882.35
102,144,626.09
139,243,191.76
137,049,401.34
134,693,770.33
79,660,815.87
65,809,513.68
250,781,539.30
58,269,136.33
92,335,041.65
148,128,051.93
145,499, 148. 47
98.621.148.93
111,505,073. 18
65,790,850.52
4,304,288,083.71
MONETARY STATISTICS OF FOREIGN COUNTRIES.
The statistics of the production and coinage of the precious metals,
imports and exports or gold and silver, amount of bank and Govern¬
ment notes, both covered and uncovered, of the different foreign
countries, published annually in the reports of this bureau, are
obtained directly from the Governments of such countries by the
representatives of the United States accredited to them.
A list of the interrogatories covering the points on which informa¬
tion is sought from the Governments of foreign countries is sent yearly
to the United States ambassadors and ministers through the Depart¬
ment of State, and the replies in the form of reports are forwarded
directly to the Bureau of the Mint.
Following is a copy of the list of the interrogatories forwarded to
foreign Governments for the 3Tear 1911 :
1. What was the amount of gold and silver coinage during the calendar year 1911;
new coinage, and domestic and foreign recoinage?
2. (a) Was any coinage executed at your mint for other Governments during the
year 1911? If so, state character and amount of same.
2. ( b ) Was any coinage executed at foreign mints for your Government? If so, state
character and amount of same.
3. WTiat as the estimated weight of fine gold and silver used in the industrial arts
during the calendar year 1911?
3$. What amount of gold and silver in the form of old plate, jewelry, and other old
material, was returned from use in the industrial arts to monetary use by being de¬
posited at the mint for coinage?
4. What was the total import of United States gold coin and what amount was
deposited and melted at the mints during the year 1911?
5. What was the weight, expressed in kilograms fine, and the value of the gold and
silver produced from the mines of the country during the calendar year 1911? Give
the product of the colonies of the country, naming them separately.
(; What, approximately, was the stock of gold and silver coin and bullion in the
country on December 31, 1911? Give stock in public treasuries and banks, and in
circulation, separately.
7. What was the amount of Government and bank notes outstanding at the end of
the year 1911, and what amount was not covered by gold coin and bullion and legal-
tender silver coin held for their redemption?
8 Is gold at a premium as compared with the actual currency of the country?
If so, what is the actual currency?
9 Were any laws passed during the year 1911 affecting the coinage, currency, or
banking? If so, please forward copies of the same.
10. Is there a report published on the operations of the mint? If so, please forward
a copy, also a report of the Department of Mines.
11 (a) What was the import and export of gold during the calendar year 1911, the
value of coin, bullion, and ore, to be given separately and by countries.
(6) What was the import and export of silver during the calendar year 1911,
the value of coin, bullion, and ore to be given separately and by countries.
12. Please examine the appended description of the coins of your country, bring¬
ing it down to date with corrections.
123
124
EEPORT OF THE DIRECTOR OF THE MINT,
NORTH AMERICA.
CANADA.
Answers to interrogatories, 1911.
1. Amount of gold and silver coined during the calendar year 1911:
Coinage.
Pieces.
Value.
Gold:
Sovereigns .
256,946
£253,539.00
i 1,961.00
i 1,446.00
Recoinage—
Domestic .
Foreign 2 .
Total coinage .
256,946
256,946.00
Silver:
New coinage .
940,191.55
50 cents .
205,475
1. 704. 004
2,727.557
3,6S3.6S6
25 cents .
10 cents .
5 cents .
Domestic recoin age .
45,486.95
Total coinage .
8,320,722
985,678.50
1 Face value, £1,9S1 domestic and £1,463 foreign.
2 Consisted entirely of United States gold coins of the face value of $7,120 and coinage value of $7,040.
0
2 (a and b). No.
4. Gold and silver returned from use in the industrial arts to monetary use by being
deposited at the mint for coinage :
Deposits.
Gold.
Silver.
Old plate, jcwelrv, and other old material . .
Fine
ounces.
927. 0S7
Fine
ounces.
253.57
5. Gold coin and bullion imported from the United States, $22,097,630; United
States gold coin melted at mints (face value), $7,120.
7. Stock of gold and silver on December 31, 1911:
Character.
Gold
holdings.
In banks.
Gold coin .
*100.630,792
Gold and silver coin and bullion .
Total .
$37,464,226
100,630.792
37,464,226
In circulation: Not known.
8. Notes outstanding December 31, 1911:
Items.
Notes
outstanding.
Gold specie
and bullion.
Government (gold holdings) .
*115.149.749
102.037,305
> *92,649,749
* *7,464,226
Banks of issue (gold and some silver) .
Total .
217,187.054
* 130,113,975
» Specie held for 25 per cent of *30,000,000 of Dominion notes and for all Dominion not/* in
Legal-tender silver holdings: Not separated, but relatively small amount.
OPERATIONS OF THE MINT SERVICE.
125
12 (a and b). Imports and exports of gold and silver during 1911:
Country.
Coin and bullion.1
Imports.
Exports.
$22,097,630
1,257
110,790
S7, 171,750
21,171
2,280
22,209,671
7,195,201
1 Customs returns not kept for gold and silver separately.
MEXICO.
1. Amount of Bilver coined during calendar year 1911:
Denomination.
Pieces.
Value.
Domestic recoinage: .
Pesos . .
i 007 000
1 , i % Uw
1,150,000
2,550,000
1 C 1 *710 (W1
1 SI, 71^,000
10 centavos .
4,927,000
1,712,000
. From old silver coins of the value of $1,490,000. There was no gold comage.
2 (a and b), 4, 5, and 10. None.
3. There are no data.
7. Stock of gold and silver coin on December 31, 1911:
Character.
In public
treasuries.
In banks.
Gold coin . . .
$12,013,720
$50,699,115
28,575,308
Silver coin (hard dollars) .
12,013,720
79,274,423
In circulation: There are no data. Banks of issue, $119,724,906.
8. Bank notes outstanding at the end of. during the calendar year 1911:
12 (a and b ) . Imports and exports of gold and silver a
GOLD. _
Classification and country.
Gold coin, United States.
Gold bullion:
Germany .
Belgium .
United States .
France .
Great Britain .
Total .
Gold ore:
Germany .
United States .
France .
Total .
Imports.1
Exports.
445,479
1,079,071
42,747,837
21,818
3,819,222
48,113,427
1,544
1,942,999
1,117
1,945,660
’ The list of lawful duties of the customhouse,
ftum together in ore, and improved in nuu
^wfui and f0rGitm mm aT1(i silvor Coin. As tnc
goWatidnJilvcrPcota^ As the oY duties.
76347°— 13 - 9
126
REPORT OF THE DIRECTOR OF THE MINT.
SILVER.
Classification and country*
Imports.
Exports.
Silver cnir^ United States .
$$,901
Silver bullion:
Germany .
835,569
2,925,091
56,021,086
186,890
18,546, 741
"Belgium .
United States .
France .
Great Britain .
Total .
78,515,377
Silver ore:
Germany . . . . . .
12,390
1,039
6,742,125
1,023
10,067
Belgium. . . . . . .
United States .
France. . . . .
Great Britain . .
Total .
6, 766, 644
COSTA RICA.
1 and 2 ( a and 6). No gold or silver was coined in Costa Rica, or anywhere else for
Costa Rica, during the calendar year 1911. Costa Rica has no mint.
4. None.
5. Amount of United States gold coin imported during 1911: $2,469 (Cnited States
currency). Melted at mints: None.
7. Stock of gold and silver on December 31, 1911:
Character.
In public
treasuries.
In banks.
In
circulation.
Gnld onin .
$1,247,813
•Silver coin .
$348,750
$244, i 25
Total .
348,750
1,247,813
244,125
*;ote.— No gold or silver buUion on deposit. Practically no gold coin in circulation. The sum of
$1,247,S13 in gold coin on deposit in four banks of issue to secure their total outstanding notes in sum oi
$1,905,182 at end of 1911, which are payable in gold coin.
8. Notes outstanding oil December 31, 1911:
Items.
Notes
out¬
standing.
Gold
holdings.
Legal-ten¬
der silver
holdings.
Government. .
$348,750
1,905,182
$348,750
Banks of issue .
S1.247.S13
Total .
2,253,932
1,247,813
348, 750
_
Amount of Government and bank notes outstanding .
Amount covered by gold and silver coin .
. $2,253,932
. 1,596.563
Amount not covered by gold and silver coin.
Banks must keep at least 50 per cent of their circulation in gold reserve; at end ot
1911 they had 65.5 per cent in reserve.
9. Gold is at par. The colon is the actual currency and gold payments are main¬
tained.
OPERATIONS OF THE MINT SERVICE.
127
» Items.
Premium
for ex¬
change (1911)
New York
exchange.
Highest premium .
$1.00 U. S.
1.00 u. s.
1.00 u.s.
Colones.
2.2087
2. 1753
2.1921
Lowest premium .
Average premium .
Colon at legal rate=4CJ cents United States currency; or $1 United States=2.15 colones.
10. No.
*******
12 (a). Gold imports. — During 1911 no gold bullion or ore was imported. United
States gold coin was imported as follows:
United Statjs
currency.
From the United States . $979. 75
From Panama . 1,489.28
Total . /. . 2,489.03
No other imports of gold coin are reported.
Gold exports. — The statistical office reports that it has not received any documents
showing exportation of either gold or silver coin during the year 1911. No ore of
any sort was exported during 1911. Gold and silver bullion was exported to the
total of $1,190,406 United States currency. (See also answer to interrogatory No. 6.)
12 ( b ). Silver import*. — There was no silver bullion or ore imported during 1911.
Silver coin in the sum of $6,973 was imported from the United States during 1911.
Silver exports. — Please refer to interrogatory No. 6 for silver exports. No silver
ore exported. No exports of silver coin reported for 1911.
GUATEMALA.
1, 2 (a), and 4. None.
2 (6). Coinage executed at foreign mints during
Hexton, Birmingham, England. Amount unknown.
5. No customs statistics yet published.
7. Stock of gold and silver on December 31, 1911:
1911: Nickel, coined by John
Character.
In public
treasuries.
In banks.
$24,501.27
202, 035. S8
In circulation: No data.
8. Government and bank notes outstanding at the end of the year 1911 :
Items.
Notes
outstanding.
Gold
holdings.
Legal-tender
silver
holdings.
$n, 000,000.00
85,051,355.25
$24,501.27
$237,534.01
Ddllho Ui JMuv ..........
91,051,355.25
24,501.27
237,534. 61
' 9 premium on gold during 1911: As compared with the United States gold dollar,
which is the standard of value in Guatemala. Percent.
. 1.801
Highest premium . . . . 1 , 524
Lowest premium . ’ . 1, 677$
Average premium . . * . .
The actual currency is inconvertible paper.
IS ^d rolfL°The United Fruit Co. imports irregularly gold and United States
cU£Sy to? pa/i labor? the amouet of tL U noAnowo. Stiver: No date: prob-
ably little or none.
128
REPORT OF THE DIRECTOR OF THE MINT.
HONDURAS.
1, 2, 3, 4, and 5. None.
7. Stock of silver on December 31, 1911:
Character.
In public
treasuries.
In banks.
In circu¬
lation
(about).
Silver coin .
Pesos.
i 125 f>3 4 87
Pesos.
2 3RQ 70Q IQ
Pesos.
1 ±i7
Owj UUU
1 The amount of silver coin in public treasury (125,634.87 pesos) is equal to $50,253.95 in United States
currency at 250 per cent exchange.
2 Equal to $141,070.27 at 155 per cent exchange.
8. Stock of notes, December 31, 1911: Notes outstanding, banks of issue, 282,721
pesos, equal to $110,870.98, at 155 per cent.
Legal-tender silver holdings: The bank must have 40 per cent according to law.
9. Premium on gold during 1911:
TT. , . . Percent.
Highest premium .
Lowest premium . . . . .
Average premium . 155
The actual currency of the country is silver.
10 and 11. None.
12 (a). Imports and exports of gold during the calendar year 1911:
Country.
Gold bullion:
United States .
Germany .
England .
France .
Total.
Export of gold and silver bullion not separated:
United States .
England .
Germany .
Total.
Exports.1
$2,820
14,244
800
400
IS, 264
620
3,525
1,010
5,155
* Expressed in United States currency. Exports arc changed from Honduran currency at rate of 250 per
cent, which the Government office will use in changing these values to gold.
12 (6). Imports and exports of silver during the calendar year 1911:
Country.
Imports.
Exports.
Silver coin:
United States .
CAD fWk
ff-o non
Nicaragua .
Pol 1 70 * .
«OU, UUU
1,120
9(8, UUU
1,755
Total .
AO
*70 non
Silver bullion:
United States .
Germany . .
O/O
/o, UUU
2,220
604
3,825
England . .
Total .
Silver ore:
United States .
b, CHD
650
2,907
Total .
o cc 7
O, OOt
k Ttl Riven oy me oinces or statistics in l
given above, are also in United States currency, at 250 per cent.
OPERATIONS OF THE MINT SERVICE.
129
PANAMA.
1. No coinage made since 1905.
2 (a). The Government has no mint.
2 (5V All Panama coinage was executed at the United States Government mint at
Philadelphia. None made since 1905.
3 and 4. None.
5. Not known.
7. It is impossible to ascertain the stock of gold and silver coin and bullion in the
country on December 31, 1911. No one knows the actual amount in the country, it
varying largely from time to time, and the amount in the banks at the end of the year
would indicate nothing. Considerable amounts accumulate during a month, but are
withdrawn from the 25th to the 28th of each month by the disbursing officer of the
Isthmian Canal Commission and the Panaman Government to pay their respective
employees, and from $1,000,000 to $2,000,000 circulates in this way/
From December to June large sums of American gold and bills are brought into the
country by American tourists and this is increasing yearly. During a recent month
the net profit of the Hotel Tivoli alone was $14,000, all cash and in American bills and
gold, and practically all brought in by tourists
The original amount of silver coined for the Panaman Government at the Philadel¬
phia Mint was $3,000,000, which represents the entire coinage of the republic, and
this is all supposed to be in circulation in the country.
None of the banks have any bullion on hand, and inquiry at the national bank for
a statement of coin on hand is generally answered by showing various classes of securi¬
ties and little actual coin.
One interesting item here is the amount of buried gold in the country, and the
manager of one bank tells me they have a special place for washing and cleaning gold
which has been buried at times for long periods and dug up at changing intervals for
various purposes, and that no one really knows the amount so buried.
The banks state that their supply of coin, etc., on December 31, 1911, would be of
little or no service, representing a time so shortly following a general pay day on the
Isthmus.
8. None.
9. Panama is on a gold basis; the Balboa equals $1 United States »old, but does not
exist. Silver coins only are in circulation, woith 50 cents on the dollar United States
currency. All United States coins, and all gold lias legal currency.
*******
12. (a). Exports of gold during 1911:
Gold bullion:
United States
Great Britain.
Total .
Classification and country.
Value.
$1,252
80,281
81,533
NOTE —The only statistics which the Government has on imports and exports of gold and silver bullion
are contained in my reply to No. 0. and in view of the fact that there is only one small mine working in
the country this is probably correct.
SALVADOR.
2 (6). Coinage executed at foreign mints:
Coinage.
Value.
Value in
United States
currency.
Pesos.
* 1,511,000
$604,097.80
1
1 1,011,000 made in United States; 500,000 made in England.
4,
5.
10, and 11. None.
Amount of United States gold com
imported during 1911 , $60,000.
130
REPORT OF THE DIRECTOR OF THE MIXT.
7. Stock of gold and silver on December 31, 1911:
Character.
In banks.
In circula¬
tion.
Gold coin ............ _ ...... . . . . . ......
Pesos.
110,000
M,500,000
Pesos.
1 90,000
* 2,000.000
Silver coin .
TotA| .
4,510,000
2,090,000
i Salvador pesos.
8. Bank notes outstanding on December 31, 1911:
Legal-tender silver holdings (banks of issue) . - .
Pesos.
5,500,000
9. Premium on gold during 1911:
Highest premium .
Lowest premium . . .
Average premium .
Percent.
. 154
. 144
. 147
The actual currency of the country is silver and bank notes.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin:
Pesos.
60.000
5,000
2,000
1,000
1.000
1,000
Pesos.
30,000
70,000
30.000
700,000
Gold bullion:
Silver coin:
1,015,000
500,000
10,000
1,000
15,000
1,526,000
15.000
900.000
Silver bullion:
I’nitpH SfAtRS . . . . . . ...» - ............. -
CUBA.
*******
7. No statistics available, as Government and banks do not make reports. It is
estimated, however, that the value of the gold and silver coin in Cuba at the end of
1911 was $30,000,000; this includes all American, French, and Spanish gold and silver
coin. No bullion traceable.
8. None. Cuba has no national currency, United States currency being the official
mg 'there is no premium on gold. The actual currency is United States values.
12 (a). It is stated that the total import of gold during 1911 was $1,000,000, this
being in French coinage. There was no export. The introduction of American gold
to Cuba was brought about under the first loan, and by reason of the Army pay, during
the occupation and intervention. Since then importation and exportation of gola
has been limited, owing to the expense of transportation in comparison with American
paper money. The Cuban customs statistics do not separate the coinage values in
importation or exportation, the designation being simply as money.
12 (6). The importation of silver in 1911 is stated at $600,000, all in Spanish pesos
and fractional currency. The value of bullion can not be traced, but was very small.
No exports recorded .
* i .000,000 pesos in bank notes were noi covered by legal-tender silver coin.
OPERATIONS OF THE MINT SERVICE.
131
SANTO DOMINGO.
* * «
7. Stock of silver on December 31, 1911:
Silver coin in circulation . 1
Estimate of American gold and silver not obtainable; American currency mostly
paper.
8. Notes outstanding on December 31, 19 LI:
Government and banks of issue.
. 2$i, 500,000
9. American gold is the standard currency. lftl,
12 (a and b). Imports of gold and silver during the calendar year 1911.
Classification.
Gold coin .
Silver coin . . ... .
Country.
United States .
. do .
Imports.
$18,000
89,000
To S^feCS KS’ven for the export, in gold and rtlver. The total export,
of currency of all kinds were $9,360, as per manifests render .
HAITI.
* si
coin, 7,000,000 gourdes. , , 1911: 7 893,772 gourdes.
8. Government notes outstanding at the end ol tne > ear M * John H
Note. — “I have obtained the foregoing j£ait| American capitalists
Allen, director of the National Bank of the Rj 1 £ • n0 doubt correct,
have the controlling interest in tins » bank. imported came to Port au
He also informs me that nearly all of the American gom 1
Prince and was distributed to the coast towns.
9. United States gold, 240 per cent preimum.
Premium of United States gold against gourdes during Per cent.
. 450. 83
_ _ . , , 240.00
Highest . .
Lowest.
Average
345.29
10. “Mr. Allen also informs me that there were
affecting the coinage, currency, or banking.
no laws passed during the year 1911
SOUTH AMERICA.
ARGENTINA.
1. VnTddItite.9goUdcoin ’^imported during 1911 to the value ol *1,200,000
AT StoeKf gold and silver on December 81, mi:
Character.
Argentine gold .
In conversion
treasury.
In banks.
Pesos.
189,048,628.62
$59,294, 162
Impossible to estimate amount in
banks.
in circulation; no control taken by Government or
i Dominican currency (estimated).
! American paper (estimated).
132
REPORT OF THE DIRECTOR OF THE MINT.
8. Government and bank notes outstanding at the end of the
Government .
Banks of issue .
year 1911:
.1 . 1 * $429, 055, 955. 08
. 2 293,208,255.44
10131 . 722, 924, 210. 52
11. Mint and mine report will be sent as soon as published.
12 (a and b). Imports and exports of gold and silver during the calendar year 1911. 3
GOLD.
Country.
Imports.
Exports.
Germany .
$522,000
201,600
090
4. 400.400
1,200,000
1.702. 400
191,200
3,024,000
1,401,220
Belgium .
Bolivia _ • .
BrazU .
$2, 743,400
United States .
France .
259,000
Italy .
United Kingdom .
Uruguay .
6, 197
Total .
12, 763,510
3,008,597
SILVER.
Bolivia
$720
BOLIVIA.
*******
3 and 5. Unknown.
7. Stock of gold and silver in banks on December 31, 1911:
Gold coin . £1,594,093
SUver coin . SI, 700, 498
Note.— Amounts in public treasury and in circulation, unknown.
8. Bank notes outstanding at the end of the year 1911, $24,868,850.
9. Premium on gold during 1911, 18 J pence for 1 Bolivian dollar.
*******
11. No mint report. Work at the mint is at a standstill and only medals are now
and then struck.
BRAZIL.
1. Amount of gold and silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
New coinage: gold.
20 raUreis .
8,467
137
Reis.
10 mUreis .
Total .
8,004
170,710.000
silver.
2 milreis . . . - .
1,929,000
2,811,000
8,000
1 milreis . . .
Total .
4,748,000
G, 073. 000, 000
No recoinage was executed.
2 (a and 6), 4 and 11. None.
5. United States gold coin imported during 1911, $250,575.
6. Gold and silver produced from mines during 1911. No data received.
1 Guaranteed with $189,048,028 02 Argentine gold, in accordance with law No. 3871. Argentine
a Issue of the British Bank of South America with $250,000 in public funds for gold of 4* wsos
per cent according to law No. 2216 . . 3 ^250 *000. 00
Bank of the Argentine Nation a fund of $30,000,000 Argentine gold . 293, 018,* 258. 44
Total .
* Amounts in Argentine gold.
Statistics not classified as to coin, bullion, and* ore.
293,208,258.44
OPERATIONS OF THE MINT SERVICE. 133
7. There are no figures obtainable as to amount of gold and silver coin and bullion
in the banks or in circulation. The gold coin deposits in the “Caixa de Conversao”
(conversion treasury) on December 31, 1911, were as follows:
Pounds sterling . 14, 043, 812
Francs . 62,172,940
Marks . 36,390,560
Dollars . 27,087,775
Lire . 690
Austrian crowns . 8 , 600
Argentine pesos . . 132 , 850
Spanish pesetas . 723, 470
Reis (national gold) . : . 281, 210, 005
The total value of the deposits equals £23,943,059, or, in national currency at
exchange of 16d., 359,145,886,695 reis. As the output was 378,483,010,000 reis, a
difference of 19,337,114,000, which is due to the changing of the exchange rate from
15d. to 16d., was assumed by the national treasury.
This department (“Caixa de Conversao”), having suspended the taking in of metal
specie, as well as the output corresponding, after the limit of £20,000,000 had been
attained; resumed operations again on January 23, 1911, in accordance with the an¬
nexed decree.
8. The amount of inconvertible gold Government notes in circulation on December
31; 1911, was 612,519,626,000 reis and convertible gold notes, at 16 d., 372,483,010,000
reis. There are no bank notes in Brazil.
9. Premium on gold during 1911:
Per cent. .
Highest . 1.687
Lowest . - . L687
Average . - . L687
Gold milreis equivalent, on December 31, 1911, to 1.687 paper milreis.
The actual currency of the country is paper of the convertible and inconvertible
character above represented.
10. Law of December 30, 1910, as follows:
DECREE
No. 8512, of January 11, 1911, which states that from the 23d instant law No. 2357,
of the 31st of December, 1910, which fixes the rate of exchange at 16d. per 1 milreis,
shall take effect in the operations of the “Caixa de Conversao.”
The President of the Republic of the United States of Brazil hereby resolves that
from the 23d of the current month the law, No. 2357, of the 31st of December, 1910,
which fixes the rate of exchange at 16d. per 1 milreis, shall take effect on the transac¬
tions of the “Caixa de Conversao” in calculating values deposited or admitted;
furthermore, that provisionally the notes now deposited and which served in former
emission of the “Caixa” be utilized, their value, in accordance with the same law,
being secured to the limit of their face value at the rate of 16d. per 1 milreis both in
emissions and changing, the value of the coins to be adjusted in relation to the pound
sterling, according to the table organized by the law of the 6th of December, 1906,
No. 1575, article No. 5.
Rio de Janeiro, January 11, 1911, the ninetieth year of independence and the
twenty-third year of the Republic.
Hermes R. da Fonseca.
Francisco Antonio do Salles.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin:
$250,575
Reis.
Gold bullion (bars): c
Reis.
13,768
7,009,196
7,022,964
Silver bullion (bars):
2,199.071
530,665
540.305
25,780
46,703
3,295,821
46,703
134
REPORT OF THE DIRECTOR OF THE MINT.
CHILE.
1. Gold and silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
Gold:
20 pesos . . . .
16, 702
1.339
5 pesos . .
Total . . .
18,041
1 $341,035.00
Silver:
1 peso (current coin) .... .
352,021
437,042
5 centavos (current coin) .
Total .
789,063
373,873.10
2 (a and b) and 11. No.
3, 4, and 5. No statistics available.
7. Stock of gold and silver coin in banks on December 31, 1911:
Gold coin . 1 2 $35,035,457. 29
Silver coin . 2,330,528.65
Total.
37, 365, 9S5. 94
8. Notes outstanding at the end of the year 1911:
Items.
Notes out¬
standing.
Gold holdings.
Government .
3 $150,000,000
2 $9S, 018, 988. 56
Banks of issue
Total .
150,000,000
98,018, 988. 56
9. Premium on gold during 1911 :
Highest .
Lowest .
Average .
(Value of paper pesos in English pence.)
Pence.
... lOtf
... m
... 10*8
10. The following publication is forwarded under separate cover: “Recopilacion
de las Dispociones Vigentes” (“ Summary of laws in force”).
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Gold coin:
Germany
Peru .
Bolivia..
Total . .
Classification and country.
Imports. Exports.
Pesos. Pesos.
2,100
8,602
24,230
« 34,932
Gold bullion, Great Britain .
Gold and silver bullion, Great Britain
Gold ore, Great Britain .
Gold dust. France .
Silver bullion, Great Britain .
Gold and silver bullion, Great Britain.
Silver ore:
Great Britain .
Germany .
France .
Total .
16,449
28,436
19,816
23,027
57,441
28,436
16,117
55,351
5
71,473
1 Peso at 18 pence (gold).
2 Gold peso at 18 pence.
3 Pape pesos.
4 Supposedly all gold.
OPERATIONS OF THE MINT SERVICE.
135
COLOMBIA RESUMES COINAGE OF GOLD.
[From Daily Consular and Trade Reports, Aug. 27, 1912.]
Consul Isaac A. Manning reports from Barranquilla that the Colombian Government
has ordered the reopening of tlie Government mint at Medellin for the coinage of gold.
It is presumed tins will materially affect the export of gold dust and bars from
Colombia.
ECUADOR.
1, 2 <a and b), 4, 5, and 10. None.
7. Stock of gold and silver in banks on December 31, 1911:
Gold coin .
Silver coin .
$3,271,790
31,900
Total
3,303,690
There are no public treasuries. 1 1 is impossible to obtain any information re amount
in circulation. 1A1,
8. Bank notes outstanding at the end of the year 1911:
Item.
Notes out¬
standing.
Gold hold¬
ings.
Legal-tender
silver hold¬
ings.
$5,019,934
$3,271,796
$31,900
The actual currency of the country
There are no Government notes.
9. Premium on gold during 1911, 105£ per cent.
is gold, silver, and bank notes. . „ . , - »#•_„
] There is no mint. No report was published by the Department ot Mines.
12 (a). Exports of gold during the calendar year 1911:
United States: . $168,075
Gold bullion . . 779
Gold ore .
Imports and exports of silver are not obtainable.
BRITISH GUIANA.
1.
2
None.
2 (&)'. Coins valued at 4 pence, or 8 cents, and bearing the words “British Guiana
and West Indies ” are minted in England, but no statistics are kept here regarding
*1 and the only estimate I could secure bom a
local jeweler places the gross value at about $6,000.
4 and 5. None. , C1 imi
7. Stock of gold and silver on December 31, 1911 :
• - — -
Character.
In colonial
treasury.
In banks.
Gold coin . *.!
Silver coin .
i $60,000
$600, ‘666
1 Approximate.
Amount in emulation unknown
8. Bank notes outstanding oil Mauh 23, 1J1-.
Issued bv
9. No.
11. None.
banks of issue, $681,185.
136
REPORT OF THE DIRECTOR OF THE MINT.
3 1 12 .^a and 6). Imports and exports of gold and silver (financial year ending Mar.
Classification and country.
•
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin:
French Guiana. .
388
£«o
*295.95
1S9, 120.00
U nited Kingdom . . . .
14.896.00
*270.931.20
British West Indies .
Total .
4,896.00
24.695.04
270,931.20
1K9.415.95
Bullion:
French Guiana .
10,435.15
United Kingdom .
948.210.69
2,762.50
12,755.78
14,054.56
1,003.88
United States .
157.03
Germanv .
Total .
10.435.15
950.973. 19
27,814.22
157.03
DUTCH GUIANA.
1 and 2 (a and b). Not applicable to this office.
3 and 4. No statistics are Kept.
5. Amount of United States gold coin imported during 1911, $105,000
7. Stock of gold and silver in banks on December 31, 1911:
Gold coin.
Silver coin .
Total .
8. Notes outstanding on December 31, 1911:
*206, >44. 00
187.699.85
394.S43.s5
Item.
Notes out¬
Gold hold¬
standing.
ings.
Banks of issue .
•:ri ire
♦M1.005
1 Si-1.
1 Xot covered by gold or silver.
9. Premium on gold during 1911, 2 per cent (premium unchangeable) Actual
currency, bank notes issued by the Surinam Bank.
10. No laws were passed during the year 1911 affecting the coinage etc
nT° 1111111 herf> nor 13 th?re a report of thedepartment of mines issued.
L! a and t Imnnrti? unH oriv»rtc nf r*oU nn/i - 1 _ :_r _ v * •>
Classification and country.
Gold. .
Silver.
Imports.
Exports.
Imports.
Exports.
Coin:
United States .
England
*105.000.00
9.600.00
Netherlands .
*1,920.00
$63,294.80
4.446.80
2S.408. 80
i $21,685.60
Demerara .
To Xickerie from Demerara
Total .
114.600.00
1.920.00
96.150.40
21.685.60
Bullion:
French Guiana .
Demerara . . 5
71.965.30
11.76
England . . .
5.764.15
174. 103. SO
6.811.90
38.20
United States.. .
Other places _ *
Total .
“ 1 Q— - rw»
1.484.4S1.75
6,831.20
(JO
1 Xetherlands and France.
OPERATIONS OF THE MINT SERVICE.
137
PARAGUAY.
1 and 2 (a and 6). No gold or silver has been coined in Paraguay in 1911. There
is neither gold nor silver money of Paraguay.
7. There are no statistics. The only means of such information would be to inquire
of all the banks and money changers, but as the custom of hoarding gold by individ¬
uals prevails, such inquiries would not cover the amount of gold held in the country.
8. Government notes outstanding at the end of the year 1911: 32,500,000 pesos.
9. Premium on gold during 1911:
X Cl ccux#
Highest . I’!™
The rate of exchange for Argentina gold is subject to daily fluctuations, ranging
from 1 080 to 1,750 per cent within the past 18 months. At present (May 13, 1912),
it is 1,550 per cent, which means that it takes $15.50 in Paraguayan paper to buy
one Argentma gold peso. The Argentina gold peso bemg equivalent to $0,965 in
United States currency, makes one Paraguayan paper peso to-day worth 6.2 cents m
United States gold. The actual currency is paper.
11. There is neither a mint nor department ol mines.
12 (a). No gold is imported or exported. None is in circulation except such as passes
over the counters of banks. .. . ^
12 (b) No silver is imported or exported. There are no silver coins of Paraguay m
regulation: thev are to be found in the hands of money changers who sell them as
circulation; they
curiosities.
URUGUAY.
1, 2, and 11. No coinage. No mint.
3 and 4. None.
5. Not stated. . . , _ ^ u 01 1011.
7. Stock of gold and silver com m banks on December 31, lJli.
Gold coin . .
Silver coin.
$14,667,855.53
1,495,593.71
$26,872,351.55
8. Bank notes outstanding at the end of the year 1911 :
Banks of issue .
?n NT°»ws nassed durin" 1911: Law of July 17, 1911, reforming the charter of the
Bank of the Republic, increasing its capital, converting it into a purely State msti-
tution and augmenting its powers of note issue. . , ,
12 (a and b ) Imports ana exports of gold and silver are not published.
1 and 2 tat No new coinage during 1911 of any character No mint in Uruguay.
2 (6) . Last batch was in 1905. The contractors were Aron Hirsh & Sohn, Germany,
and the coinage was nickel.
t No“itementaTeayavailable as to the gold imported from the United States
except ver^ ff^ ' to^fumish any information on the subject of the stock of gold and
silver com in Um country , for the reason, that the banks are not required to .publish
5o not nublish their balances. It will be remembered, in the case of gold coin,
that Uruguay has no distinctive coin, but that the corns of all other nations circulate
freely at a definite legal value laid down by the State. On December 31, 1911, the!
Items.
Holdings.
Gold.
Silver.
Nickel.
Total.
S13, 462,093. 68
1,205,761.85
$1,393,807.11
101, 786. 60
$213,443.59
12,075.39
$15,069,344.38
1,319.623.84
14,667,855.53
1,495,593. 71
225,518.98
16,388,968.22
138
REPORT OF THE DIRECTOR OF THE MINT.
8. The only paper money issued in Uruguay is that of the Bank of the Rennhi;.
which, while generally accepted everywhere, has no legal-tender quality All ntif’
banks of issue have been terminated. s qnauiy. All other
Pesos.
25. 179,148
Notes outstanding Dec. 31, 1911 (Bank of the Republic) .
9. Gold is not at a premium.
10. Law reorganizing the Bank of the Republic. Copy of the same tn^th* -*u
annual report for 1911, is inclosed herewith 1 I nws ’ t,°?ethor "rith
coyer the subject of requiring transportation agencie^ ^ to furnish °Qf/rel>afrati°0
tetic, to the Government on Lnetafy and fUm,Bh adeqUate s,a'
n . Mora to, assistant manager of the Bank nf flip pp^nKii i\r *. *• j ”
contained therein is up to date (1912) me m^ormatlcn
to^Suo^^StiTof^ormeiraW^ t0 ?V1 4»<* «»
is available on this subject H™ove«.f:«aH l **“,e information
me through the Bank of the RenubHc h ,fficia] 8tatements, furnished
imported trom England? redueK fliu’nds 8 * Va]"e °f Vat,<,,ls linds »f «”M
Gold Impouvs.
12^ 19101 . £19, 175,05s
Jan. 1, 1912, to Mar. 25, 1912 . . . 3,324,640
. . . 2,630,000
VENEZUELA.
Jjmd 2 (a and 6), Gold and silver coined during the calendar year 1911:
Denomination.
New coinage:
20 bolivars
5 bolivars .
2 bolivars . . .
1 bolivar . . .
Total . .
« - J
Gold.
Pieces.
Value.
120.000
Bolivars.
2,400,000 .
120,000
2, 400,000
Silver.
Pieces.
900,000
750,000
1,500,000
Value.
Bolivars.
I7,
500,000
3,150,000 I 7,500,000
bolivars in silver was authorized in ad' litton £°th °/ 20 bo.hvars ^ch and 7.000,000
coinage was received in 1912 although some o^ mentioned above. This new
to be of the following denominations: * ‘ C0Uled ln 191L Thc siIver was
5 bolivars .
2 bolivars . ’
1 bolivar .
i bolivar .
1 bolivar . *’*
ation to thS ?„S”g w“ Enu.ee’
7’ i’an,d No data obtainable.
— 1 ‘ °C ° g° C and 8llver in the country on December 31, 1911:
There is no mint
Pieces.
.1,000,000
. 500,000
. 1,000,000
600,000
800,000
in oper-
Character.
In banks.
Gold coin ....
Silver coin. . .
Total
estimated
stock.
Total.
Bolivars.
3.148,824
1,922,801
Bolivars.
16,000,000
56,000,000
1 The period above included is the
5,071,625 72,000,000
natural crop season in this country.
SERVICE.
139
OPERATIONS OF THE MINT
8. Bank notes outstanding at the end of the year 1911:
Items.
Notes
outstand¬
ing.
Gold
holdings.
Legal-
tender
silver
holdings.
Government.. .
Bolivars.
None.
9, 155, 200
Bolivars.
No data.
3,148,824
Bolivars.
No data.
1,922,801
Total .
ft
9, 155,200
3,148,824
1,922,801
goes goVfli'l ro'^cenS^ge"”"56
Highest
Lowest.
Average.
Per cent.
3*
Par
1
10. Translations of laws inclosed.
>ABMo£»of puMWi a Te^odrtViSi0n '"in“ 'h° dePartment »' '<«" (Public
12 (a). Imports and exports of gold and silver during the calendar year 1911:
Country.
Gold.
Silver
imports
(coin).1
Imports
(coin).
Exports.
Coin.
Bullion.
Ore.
United States .
France .
Bolivars.
6,265,536
1,223,000
77,600
Bolivars.
1,092, 176
316,060
15,288
296,000
1,284
Bolivars.
72, 440
975,037
Bolivars.
10,280
Bolivars.
Trinidad .
3,078,000
Holland .
German v .
7,100
827,592
9,720
Great Britain .
Total .
7,566, 136
1,720,808
1,892,169
20,000
3,078,000
1 No exports of silver.
£,en; '!iV- Gomez Constitutional President of the Republic, considering:
.,.™ the coinage of gold and silver ordered by executive disposition of July 9
I910’ does not coyer the amount prescribed by the National Congress in its decree of
June 20, last, and also that that first coinage not having been sufficient to cover the
necessity of business and the circulation which the Executive Power had in mind in
its referred to decree, JA
Decrees:
r ArL 1;^ithin, the, limits of that order by the National Congress in its decree of
June 20, 1910, ordered to be executed the 25th of the same month, a new coinage of
gold and silver coins shall be made through the Bank of Venezuela in the following
proportion : *
For the gold, two million bolivars (B. 2,000,000) in pieces of twenty bolivars (B. 20) *
For the silver, three million bolivars (B. 3,000,000) in this proportion: Two million
bolivars (B. 2,000,000) in pieces of 5 bolivars (B. 5); five hundred thousand bolivars
(B. 500,000) in pieces of two bolivars (B. 2); five himdred thousand bolivars (B.
500,000) in pieces of one bolivar (B. 1).
Art. 2. The introduction of this sum shall be made through the customhouse of
La Guaira without any charges, and in only one lot for the gold, and for the silver in
lots of not less than one million bolivars (B. 1,000,000) monthly.
The ministers of interior relations and of finance and public credit are in charge of
the execution of the present decree.
Given, signed, and sealed with the Seal of the Federal Executive and counter¬
signed by the minister of interior relations and of finance and public credit at the
140
REPORT OF THE DIRECTOR OF THE MIXT.
Federal Palace in Caracas the fourth of Febmarv. one thousand nine hundred and
eleven. \ ear 101 of the Independence and 52 of 'the Federation.
J. V. Gomez.
Countersigned:
The Minister of Foreign Relations.
The Minister of Finance and Public Credit.
F. L. Alcantara.
Antonio Pimentel.
Coinage or Monet.
The Congress of the United States of Venezuela decrees the following:
LAW CONCERNING THE COINAGE OF MONEY.
Art 1. There shall be made a coinage of ten million bolivars (B. 10.000.000* in
coins of gold and silver in the following proportion: Three million bolivars B. 3,000.-
000> in gold coins of the value of twenty bolivars <B. 20): seven million bolivars
in diver coins as follows: Five million bolivars \B. 5.000.000 in pieces of five bolivars
(B 5 : one million bolivars 6.^000,000 in pieces oi two bolivars ; B.2): one million
bolivars B. 1.000.000 ) in pieces of one bolivar (B.l). fifty centimes of a bolivar (B.0.50)
and twenty-live centimos of a bolivar fB.0-25), proportionally.1
Art. 2. The Federal Executive is authorized to arrange for and to carry into effect
the before-mentioned coinage in accordance with the previrions of law.
Given in the Federal Legislative Palace at Caracas on the thirteenth dav of the
month of X >vember. one thousand nine hundred eleven, years 102d of the independ¬
ence and 53d of the federation.
The Prerident.
P. Gltsefpi Monagas.
Juan Landaeta Llovera.
The \ ice President.
The Seeretaries-
M. M Ponto.
Samuel E. Nino.
Federal Palace at Caracas. November 14. 1911: years 102d.
Let it be carried out and watch over its execution.
J. V. Gomez.
Countersigned
The Minister of Interior Relations.
F. L. Alcantara.
The Minister of Finance and Public Credit,
Antonio Pimentel.
Status of Foreign Gold Coins in Venezuela
Foreign gold coins in recent years have not had a legal tender status in Venezuela,
but their orculati<?n as merchandise has been permitted, and thev have been used
rather extensively by merchants in sen ling balances amone themselves. The rates
at which they have been received and paid out correspond quite closelv to the bullion
value of the pure sold contained.
On the 15th of January the Government of Venezuela issued a decree which in
addition to tixing the values of the foreign gold coins found in circulation in the
country goes a step further in stating that public offices must renw'w r*,t
FOREIGN GOLD COIN (LEGAL VALUE ).
m consequence a tariff oi voices oat the rules* that the Govemmeht adopts
aA.av B. in pieces afCZO B.
aKia:© B. in pietes oi IS Bl
IDXuW B as AboTc siaseiA
OPERATIONS OF THE MINT SERVICE. 141
in the matter; therefore, in use of the power which paragraph nine of article eighty
of the national constitution confers on me,
Decree:
Article 1. The following tariff of values by which all the offices or institutes which
directly or indirectly hold or receive public funds or which are the object of any
prerogative on the part of the National Government will receive and pay foreign gold
coins:
Bolivars.
20-franc piece of France, Belgium, Italy, and Switzerland . 20.00
Fractions in proportion.
English sovereign or pound sterling . 25. 25
Half sovereign in proportion.
Spanish gold onza, onza patriota, Central American onza of any year, Colombian onza of weight
25-8.064 and .900 fine, tne same for those of the other South American States . 80. 00
Gold of the United States of North America, twenty-dollar gold piece . 104.00
Fractions in proportion.
German gold, the double crown piece, or 20 marks . 24. 75
Fractions in proportion.
Double condors of Colombia . 100. 00
Fractions in proportion.
Piece of 20 soles of Peru . 100. 00
Fractions in proportion.
Mexican onza of the weight of 33.770 and .875 fine . 100. 00
The Spanish Isabelina of 25 pesetas . 25. 00
Fractions in proportion.
Art. 2. Any infraction of this decree will be punished with the penalties prescribed
for those who refuse to receive legal money.
Art. 3. The importation of foreign gold will be regulated by a separate resolution
in conformity with the law on this subject matter.
Art. 4. The ministers of the interior and of finances and public credit are charged
with the execution of this decree.
Done, signed, sealed with the seal of the Federal Executive, and countersigned by
the ministers of the interior and of finances and public credit, in Maracay, January 15,
1912, 102d year of independence and 53d of federation.
J. V. Gomez.
Countersigned :
The Minister of the Interior,
F. L. Alcantara.
Countersigned :
The Minister of Finances and Public Credit,
Antonio Pimentel.
The values assigned to the foreign gold coins by the foregoing decree were those
generally in use previously, with one exception. The Spanish and Latin American
onzas or doubloons had been received at the rate of 82 bolivars each instead of 80 as
set forth in the decree. This has caused a loss of 2 bolivars (bolivar equals 19.3 cents
United States currency) on each piece to the holders, and this has not been well
received by those who have had any quantity of the pieces on hand. As many of the
doubloons were old, a large proportion of the Spanish pieces being coined more than
100 years ago, their weight has been reduced through wear, so that the bullion value
has been in the past less than the rate at which they have been received. The new
value of 80 bolivars -may more correctly represent the value of the majority of the
pieces found in circulation.
On the basis of the pure gold contents of the coins it will be seen that the English
coins are given a circulating value about twelve one-hundredths of 1 per cent over par,
the German coins are given a value of about twenty-four one-hundredths of 1 per
cent while American coins are given about thirty-four one-hundredths of 1 per cent
over the value to which their pure gold contents would entitle them. The French,
Belgian Italian, Swiss, old Peruvian, and Spanish coins are received at par.
The quantity of Venezuelan gold coins in circulation, with weight and fineness m
accordance with that of the Latin Monetary Union, is much greater than that of any
class of foreign gold coin. There is probably a greater amount of American gold to
be found in the country than of any other foreign nationality of modern comage. In
the interior in the region of the plams, the doubloons are more frequent.
The regulations for the introduction of foreign gold com are as follows:
United Steles of Venezuela-Ministrv of Interior Relations-Politieal Division-
Ministry of Finance and Public Credit — Division of Public Credit Caracas, Jan¬
uary 16, 1912—102 and 53. . .
Bv order of the citizen President of the Republic, and in conformity with what is
directed by article 3 of Executive decree dated the 15th of the present month, in
76347—13 - 10
142
REPORT OF THE DIRECTOR OF THE MINT.
regard to the tariff of values which should govern foreign gold coins, the ministers of
interior relations and of finance and public credit have agreed upon the following:
RESOLUTION.
1, Each introduction of gold coin into the country, of whatever kind it may be,
will be scrupu *usly examined and inspected by an expert assay er whom the Federal
Executive will nominate beforehand, in order that no money (coin) impaired in its
weight or in its fineness may be imported; the assayer being responsible in every¬
thing respecting the weight and the fineness; and the chiefs of the customs being
responsible for the weight only.
%2. When by negligence or error of the expert or of the chiefs of the customshouses,
there are imported gold coins impaired in tneir weight, or of a fineness le^> than that
which they should have, he who is responsible shall be punished by a fine of from
a thousand to five thousand bolivars in favor of the national treasury ; and in case of
a severe offense such as fraud, bribery, or any other similar, in addition to the fine
indicated the guilty one shall be removed from his post and submitted to the ordinary
tribunals.
The importation into the country of gold coins perforated filed, or worn away by
abrasion is absolutely prohibited.
Communicate this and publish it.
For the Federal Executive.
The Minister of Interior Relations. F. L. Alcantara.
The Minister of Finance and Public Credit. Antonio Pi mental.
Moneys of Account in Venezuela.
There are at present in vogue in Venezuela in daily tue three different systems of
monetary standards.
One is that based on the bolivar (equal to 19.3 cents United States currency i as the
unit. This is in use by the Government in its reports and transactions, and is the
official system. Quotations in this system are in bolivars and centimes, a bolivar
being divided into 100 centimes, although the smallest coin in this system has a value
of 5 centimes.
The second system has the “peso fuerto" or “dollar" as its unit, the units being
commonly referred to as simply “fuertes.5* This “fuerte" is taken to be equal to 5
bolivars and to be divided into i00 centavos. In former years there were in circulation
coins denominated centavos, but now the coins of 5 centimes are called centavos
also.
as
The third system has the “peso macquina." usually simply termed “peso _
ait. This “peso" has a value of 4 bolivars or eighty one-hundredths of a “fuerte.
unit, l ms "peso nas a value ot 4 bolivars or eight v one-hundred ths of a “fuerte.
This unit is considered to be equal to SO centavos, 'and to be divided into $ reals,
while the “fuerte” is considered io have 10 reals.
_ , _ published L
pounds ^avoirdupois).
\\ hen accounts kept in the two last units are paid they are transformed into bolivars
by multiplying by five or four, as the case mav be. payments being made by Vene¬
zuelan currency coined g Id and silver on the\>olivar basis, or bank notes issued on
the same s> >T.em. although some foreign sold is in general acceptance at conventional
rates. r
The use of the JM80 system is a heritage from the time when the old Spanish
or piece ot eigat reals was in common use. the more modern sy stem not having yvt
supplanted the old sy>tem in the customs of the mercantile class.
Amom. ne humbler classes making iheir purchases at the market the modern terms
are id tn used. Lor instance, an article which would be worth 75 centimes of a
bolivar ot Io centavos ot a “fuerte ” will almost invariably be quoted at “real v media/’
1 r/\^ a. a purchase will be actually paid for by offering 6 bolivars. &2§
^ COm" The seller has seated the value to l>e “ thirteen reals and a
o various differing systems is very confusing to anv person not feumliar
^ntr>% Ol* knowl«^ of their exi^noe *ill facilitate
iHuaness relations with merchants ai this Republic.
. ... Thomas W. Yortter, .iwmnin Consul.
La lcaira, \ FVExrELA, January 17, I9it%
OPERATIONS OF THE MINT SERVICE.
143
NEW COINAGE.
(From Bulletin of the Pan American Union, December, 1911.]
The President has approved the bill providing for the mintage of coins to the value
of 10,000,000 bolivars in gold and silver. The Banco de Venezuela will control this
new coinage, which will be minted in the following denominations:
3,000,000 bolivars in gold of 20 bolivars.
5,000,000 bolivars in silver of 5 bolivars.
1,000,000 bolivars in silver of 2 bolivars.
300,000 bolivars in silver of one-half bolivar.
200,000 bolivars in silver of one-fourth bolivar.
EUROPE.
AUSTRIA-HUNGARY.
Austria.
1. Amount of gold and silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
GOLD.
100 crowns .
1,175
59,313
1,285,667
Crowns.
117,500.00
1,186,260.00
12,856,670.00
20 crowns .
10 crowns .
Total .
1,346,155
148,631
587,092
14,160,430.00
6,712, 175.96
6,628,268.68
4 ducats 1 (45.16 crowns) .
1 ducat 1 (11.29 crowns) .
Total .
2,081,878
2 27,500,874. 64
SILVER.
Maria-Theresa thalers (1780) .
3 8,377,200
1 Trade coins.
2 Of which amount 27,490,034.64 crowns was new coinage and 10,840 crowns recoinage of domestic coins.
3 Trade coins, without fixed value (reckoned at 4.20966 crowns).
2. (a and 6). None.
4. Gold and silver returned from use in industrial arts, deposited at mint for coinage:
Description.
Gold.
Silver.
Scrap gold and waste of the gold and silver industry .
Fine ounces.
877. 5121
Fine ounces.
5,218.355
5. United States gold coin: Imported during 1911, none; melted at mint during
1911, 16,000 gold eagles.
7. Stock of gold and silver on December 31, 1911:
Character.
In public
treasuries.
In banks.
In circulation.
Crowns.
3,063,190.59
Crowns.
1,088,776,922.36
203,087,S54. 29
275,833,368.00
Crowns.
270, 000, 000-320, 000, 000
4, 103,549. 38
300,000,000-350,000,000
7,226,739.97
1,567,698,144.65
570, 000, 000-670, 000, 000
144
REPORT OF THE DIRECTOR OF THE MINT.
In the metal store for 1911 there are still to be counted (according to article 84 of
the bank statutes) :
Nickel and bronze coins .
Gold drafts on foreign places
Silver coins .
Gold stock .
Total metal stock....
Crowns.
8,002,893.59
60,000,000.
275,833,368.
1,291,864,776.
1,635,701,038.24
8. Amount of bank notes outstanding at the end of the year 1911:
Item.
Notes outstand¬
ing.
Gold holdings.
Legal-tender
silver hold¬
ings.
Issued by Austro-Hungarian Bank
Crowns.
2,540,960,650
Crowns.
1,291,864,776.65
Crowns.
275,833,368
The store °f metal comprised 64.3 per cent of the circulation of bank notes to be
by banks ^ Clrculatlon of bank notes in excess of 905,259,611.76 crowns was covered
9. The rates of exchange of foreign sight bills on Berlin, London, and Paris at the
\ lenna Bourse in the year 1911 may be seen from the following statement:
Items.
Par
value.
Average.
Maximum.
Minimum.
Date.
Value.
Date.
Value.
Berlin, for 100 marks. .
London, per pound . . .
Paris, for 100 francs. . .
Crowns.
117.563
240. 174
95.226
Crowns.
117.497
240.366
95. 130
Sept. 28 and 30 _
Sept. 30 and Oct. 2.
. do .
Crowns .
118.025
241.900
96. 125
Feb. 21 and July
28.
Apr. 21 and 22 _
Apr. 15, 20, and 26
and May 4.
Crowns.
117.200
239.725
94. 725
10. Laws passed during 1911:
AUStf8; 1 Bk’ No’ 157)> concerning the prolongation of the privi-
teulatiOT1 mnk a?d-the minta in agreement therewith ami the
regulation in connection with settling their transactions
Regulation by the administrative council of the Empire, representing the Empire’
Awu« rSlWNo im S,Tlr:'tiT 0|, ‘h1 m SfoHf the
August 8, mi (No. 1d7), of September 16, 1911 (R. G. BI. No 188) sanctioning
will, relation to ST’ t°di c?u<cer'"nH tbe metallic stoct of the bank
“aar'ns t* ^ decroe
. Regulation by the finance ministry of September 30 ion rr? ri fjr. i<m
and IO pctSS ^ silver coins nf\ Montenegrin gold coins of 100 perpera, 20 perpera.
bronze coPns of’ 2 auH l ZZ t ’ 2’ a,nd 1 Pe.rPera; nickel coins of20 and 10 paraf and
decree of September 2(1, ‘ 1899 '(R*G ’bP No 17n10fDl3°f Article V1 of the in}Perial
taxes, postal charges; in the imperial r, ^i ,^176’ for Payments of customs duties,
chief administrative districts o? the So! aud “ Public pay offices in the
likewise in the pay offices of f lm cit^ant?*8 °,,i J.ro and Kagusa for the present,
sizs; “d by
1 perper = 1 crown.
1 para=l heller.
sss
OPERATIONS OF THE MINT SERVICE
145
Lawfully arranged conformably to the country’s national legal-tender of the crown
standard, the silver coins to be accepted for customs charges up to 10 crowns only and
relatively by individuals also, as follows: The 5-perpera pieces up to the amount of
250 crowns; the 2 and 1 perpera pieces up to 50 crowns; the nickel and bronze coins,
in cash payments only up to their relatively equivalent value in silver coins.
This regulation is to enter into force on the day of its publication.
12 (a). Imports and exports of gold during the calendar year 1911:
Countries.
Imports.
Exports.
Gold coin.
Gold
bullion.
Gold coin.
Gold
bullion.
Gold ore.
Kilograms ,
gross .
Kilograms ,
gross.
Kilograms,
gross.
7,968
17
5.214
1,108
2,263
5.312
716
223
82
16
87
51
751
129
39
1,666
1,590
802
27
Kilograms ,
gross.
Kilograms ,
gross.
Egv pt. . . . * * '
T) |-|1 rrCL o
13
1,305
1,031
German Empire .
Prance . . . .
3,787
1,192
7,591
2,051
509,900
1,612
T4*ol tr
897
88
Roumania .
13
77
41
101
8
13
European Turkey .
Other countries .
15
146
100
Total .
3,510
5,071
28,061
11,400 1 510,000
Value in crowns .
9,517,029
15,567,970
76,157,554
14,4S5,000
168,300
12 ( b ). Imports and exports of silver during the calendar year 1911:
Imports.
Exports.
Countries.
Silver coin.
Silver
bullion.
Silver coin.
Silver
bullion.
Silver ore.
Kilograms,
gross.
10
60
Kilograms,
gross.
1,090
Kilograms ,
gross.
Kilograms,
gross.
Kilograms,
gross.
260
54,720
10,770
8,400
4,150
1,300
10, 100
uerilian r/inpuc. .
Italy .
Abyssinia .
490
. i50*
120
. io, 700
40
i3i’66o
20
6,530
. 3.400
3,900
5,600
3,100
2,410
.
.
Servia .
British India .
Holland. .
ltouinania - : .
European Russia .
Switzerland .
European Turkey .
Asiatic Turkey ••••*.*• *7 .
Britishpossessions in Africa. . . .
.
. 190*
280
7.870
770
460
.
Other European possessions in Africa .
40
120
80
800
uiner tuiitiu
3,000
181,900
186,550
9,650
10,900
350,982
15,825,300
12,607,880
839,550
12,263
146
REPORT OP THE DIRECTOR OF THE MINT.
The coinage of the Imperial Royal Hungarian Mint at Kremnitz during 1911 was as
follows.
Denomination.
Pieces.
Value.
Gold coins:
20 crowns .
62,755
1,827,589
Crowns.
1,255, 100
18,275,890
10 crowns .
Total .
1,890,344
19,530,990
Silver coins:
5 crowns .
316
4,094
1,580
4,094
1 crown .
Total .
4,410
5,674
BELGIUM.
1. Silver coinage, 1911:
Denomination.
Pieces.
Value.
Domestic recoinage:1
2 francs .
2,775,000
5,060,000
4,126,000
Francs.
5,550,000
5,060,000
2,063,000
1 franc .
50 centimes .
Total .
11,961,000
12,673,000
1 From metal obtained as follows: Francs.
Belgium &?us (5-franc pieces) . 21 324 080
Belgium worn coins or 2 francs, 1 franc, and 50 centimes . ' 353 ' 000
Demonetized 5-franc pieces of the late Independent State of the Kongo. ’. . * . . . . ’ 44 '500
Demonetized 2-franc, 1-franc, and 50-centime pieces of the late Independent State of the
Kong° . 87,000
Total.
. 11,808,580
The excess of 864,420 francs in the nominal value of the recoinage resulted from the difference between
the fineness of the e^us melted and that of the new fractional coins struck and the loss of metal in remelting.
Of the 230,000,000 francs in new fractional silver coins authorized for Belgium by
the Monetary Convention of November 4, 1908, the first annual quota of 10,380,000
francs were coined in 1909, and of the second quota, up to the amount of 8,440,000
francs, were coined in 1910. In 1911, the 1,940,000 francs remaining from the second
auota, and the third quota of 10,380,000 francs were coined. There were also recoined
(luring 1911, 3o3,000 francs from Belgian worn fractional silver coins, making the
coinage for the year 1911 of the amount of 12,673,000 francs.
2 (a). Coinage executed at the Belgian Mint for foreign Governments during 1911:
ROUMANIA.
Classification.
Pieces.
Value.
Silver coins:
50 bani .
1,400,000
300,000
Lei.
700,000
300,000
Total .
1,700,000
1,000,000
SALVADOR.
Silver coins: 1 peso .
r aa AAA
Pesos.
rru) nfH'
500,000
OUU, WL
SIAM.
Bronze coins: lstang..
Nickel coins: lOstangs
30,000,000
500,000
30,500,000
S tangs.
30,000,000
5,000.000
35,000,000
Total.
OPERATIONS OF THE MINT SERVICE.
147
4. None.
6. Monetary stock, 1910: 1 For five years the circulation of gold in Belgium has
been continually decreasing. At present it is almost nil.
On December 31, 1910, the national bank had a reserve of 125,694,390 francs in
gold coin, besides foreign drafts of the value of 173,432,168 francs, all negotiable in
gold. With regard to the amount of Belgian 4gus in existence on that date, there were
presumed to be less than 350,000,000 francs.
The amount of 69U8 of 5 francs in circulation in Belgium was recently estimated at
200,000,000, but this amount has been much reduced by reason of the unfavorable
exchange upon France, which is permanent encouragement for exportation; the
circulation does not now appear to be but little more than from 100,000,000 to
150,000,000 francs. The national bank, which pays in silver, is forced to have
periodical recourse to Paris. They advanced to them in 1898, 38,000,000 francs;
m 1899, 60,000,000; in 1900, 35,000,000; in 1901, 14,500,000; in 1902, 11,000,000;
in 1903, 25,000,000; in 1904, 12,000,000; in 1905, more than 24,000,000; in 1906,
81,500,000; in 1907, 98,500,000; in 1908, 79,000,000; in 1909, 90,000,000; in 1910,
184,500,000; being a total amount of 753,500,000 francs in 11 years.
Exchange upon Paris in 1910 was unfavorable. The premium varied generally
between 3 and 4^ per cent; the average was 3.4 per cent, but during the last three
months of the year the situation improved. At the end of December the exchange
was lower by about 1£ per cent. The effect of that premium was the exportation of
69US from circulation . This movement has been palliated by realizations upon foreign
drafts by the bank. .
The metallic reserve of the National Bank of Belgium: 2
Composition of reserve.
Dec. 31, 1910.
Dec. 31, 1911.
Francs.
125,694,390.00
64,469, 105.00
13,237,828.28
Francs.
189,114,130.00
45, 130,235.00
12,462, 748.97
rnmnorntiVp tntftl PASftrVft . . . .
203,401,323.28
246,707,113.97
Amount of bank notes in circulation on December 31, 1911: 969,763,570 francs.
7 Belgium has no State bank notes. The national bank only, placed under control
of the Government, of which it is the cashier, issues notes payable in cash on sight.
These notes are of legal circulation among the public as long as the bank pays them on
sight and the Government accepts them as payment
On December 31, 1911, the average value of the notes 111 circulation was 882,189,800
francs, divided as follows: Francs.
. 209,932,000
1,009 francs . 53,100,000
500 francs . 342.262.700
100 francs . 90.51S.S00
50 francs . . “ . 186,370,300
20 francs . . : .
. SS2, 1S9, S00
Total.
On that date the amount of metallic specie in possession of the bank was 246,707,113
francs; besides this the bank possessed 149,311,884 francs in portfolio drafts (securi¬
ties) on foreign countries, payable in gold. .
8 Regarding the monetary circulation in the interior of the country there exists
no premium oil gold over silver currency or notes of the national bank.
Course of exchange at Brussels upon Amsterdam, Berlin, London, and Paris, 1911.
Amsterdam, note at limited date (100
florins, par 208.32 francs).
Highest price . . .
Lowest price . 209 -5
PerllnT^om^at^rimited dale (100 iuarks,
par 123.45 francs): 4,
Highest price . 123;35
Avora VpHee . m. 85
i From report of the Minister of Ftoft"OBS’ NaUonsj'lUink1 onielgfum in the name of the administrative
London, on sight (1 pound sterling, par
25.22 francs):
Highest price . 25- *5
Lowest price . 2o. 29
Average price . 25.35
Paris, on sight (100 francs):
Highest price . .
Lowest price .
Average price . 100. 3o
148
REPORT OF THE DIRECTOR OF TnE MINT.
9. Royal decree of May 2, 1911, prolonging the time for the exchange at the colonial
treasury and at the public pay offices of the Kongo of the silver coins struck for the
Independent State of the Kongo:
Albert, etc.
In consideration of article 11, of the law of October 18, 1908, over the Government
of the Belgian Kongo:
In consideration of the royal decree of April 14, 1909, relative to the demonetiza¬
tion of the silver coins struck for the Independent State of the Kongo;
Upon the proposal of our minister of the colonies,
We have decreed and ordered:
Art. 1. The delay fixed by article 2 of the royal decree of April 14, 1909, which
prescribed the time during which the silver coins of 5 francs, 2 francs, 1 franc, and of
50 centimes, struck for the Independent State of the Kongo would be exchanged
against the moneys of pavment by the first colonial treasury at Brussels and bv ffie
public pay offices of the Kongo, is prolonged up to July 1, 1912.
Up to the prescribed date, these coinswill continue to be received at all public pay
offices of the colony in settlement of customs duties or taxes, and for all other payments.
Art. 2. Our minister for the colonies is in charge of the execution of this decree.
11. Imports and exports of gold and silver during 1910:
Classification.
Gold.
Silver.
Imports.
I Exports.
Imports.
Exports.
Ore .
Kilograms.
1,200
9 ’inn
Kilograms.
Kilograms.
79,000
21,500
907,350
Kilograms.
Un wrought » .
41 Ml
10, 100
Coins .
ouu
9 GOO
4UU
O onn
28,600
327,200
Zj OUU
Z., OlHJ
Total .
r, ino
o •AA
1,007,850
305,900
U, 1UU
A 4 UU
dA^U^lls1tSdwfn‘,.rw?lgh-” jnrtudes gold and silver in dust, bars, ingots, beaten in sheets,
araTnn°r wire beaten in books, single or twisted threads, on threads of silk as well as eii era vines
on shdls, gold and silver plate, and articles of goldsmiths’ ware! ' engra\ mgs
taUon and* mTh^n^,>^io.1Le.ab)0iV0itablef only those which have bwn declared in impor-
hv f They cumulate to the knowledge of the customs in rather considerable amounts
need^t d^ll?ertltyThe^i?^rn^ and lh* advan,aKe one has in the security of the shins, and they
consider also as corn the gold and silver ore as well as un wrought gold and
su\er. (rrom report of the Commissaire des Moiinaies,” 1911, Brussels, 1912.)
BULGA R I A .
1 . Number of pieces and nominal value of coins manufactured and put in circulation :
Year.
Denomination.
Pieces.
Nominal
value.
Year.
Denomination.
Pieces.
Nominal
value.
1894....
GOLD.
100 francs .
2,500
100,000
75,000
Franc*.
250,000
2,000,000
750,000
1910....
silver — con.
2 francs .
Francs.
90 franfN
400,000
800,000
4»V 1 1 LkllVO . . . . . .
10 frfinK
1 franc .
3,000,000
400,000
3,000,000
200,000
iv/ UaliC^ • • . . . .
$ franc .
Total .
177,500
3,000,000
Total .
4.000.000
SILVER.
2 francs .
3,800,000
1883....
2,000,000
4, 500,000
4,000,000
4,500,000
NICKEL.
1 franc .
1888 ....
20 cents
5,000.000
10,000,000
14,000.000
12,000,000
1,000,000
1, (XX). 000
700.000
300,000
i franc .
3,000,000
1,500,000
10 cents .
Total
9,500,000
10,000,000
5 cents .
1554. . ..
1885.. ..
24 cents .
5 francs .
5 francs .
500,000
1,500,000
2,500,000
7,500.000
1906....
Total .
41.000,000
3.000.000
1891....
2 francs .
1,500,000
4, (XX), 000
2,000,000
3,000,000
4,000,000
1,000,000
20 rents. .. .
10, (XX). 000
2,000,000
1,300,000
700,000
1 franc
10 cents. . .
13,000,000
14,000,000
} franc . .
5 cents ....
Total .
7, 300,000
8, 000, 000
Total .
37,000,000
4,000,000
1892 ...
5 francs .
1,000,000
5,000,000
COPPER.
1894....
5 fra ucs
18S1 ....
2 cents .
5,000.000
100,000
2 francs .
1 franc .
1 y VRRI
1,000,000
1.000,000
9, 000, 000
2,000,000
1,000,000
1901....
2 cents . . .
40.000,000
2,000,000
soo.ooo
1 cent .
200,000
Total
3,800,000
12,000,000
Total .
42,000,000
1,000,000
149
OPERATIONS OF THE MINT SERVICE.
2, 3, 4, 5, 6, 9, 10, and 12. No reply.
7. Stock of gold and silver coin in the country on December 31, 1911:
Character.
In public
treasury and
National Bank
of Bulgaria.
In circulation.
Gold coin .
Francs.
40,142,135.23
10 IQ** 7 in
Francs .
Silver coin .
OA CAR OKI AA
Total .
fiQ QQR C7Q IQ
* oUbj 257. 00
Oft QAA OK7 on
Ot/j OOOf O# O. lo
OOf OUO; duOi • OU
8. Notes outstanding at the end of the year 1911:
Items.
Notes
outstanding.
Gold
holdings.
I^gal-tender
silver holdings.
Government (National Bank of Bulgaria) .
Francs.
110,788,647.50
Francs.
40, 142, 135.23
Francs.
19,049,353.00
THE COINAGE OF COMMEMORATIVE COINS IN BULGARIA.
[From L’Economiste Europeen, Paris, Aug. 9, 1912.]
In commemoration of the proclamation of its independence, Bulgaria made a
coinage on September 22, 1908, as follows: 5,000 gold pieces of 100 francs and 75,000
gold pieces of 20 francs.
These pieces were put in circulation August 2, 1912, the twenty-third anniversary
of the accession of Prince Ferdinand, of Saxe-Coburg-Gotha, to the rank of Prince of
Bulgaria.
DENMARK.
1 . Amount of gold and silver coined during the calendar year 1911:
Coinage.
Pieces.
Value.
(.old:
New coinage — 20 kroners .
184,028
2,015,363
578,535
2,593, 898
Kroner.
3,680,500. 00
Silver:
25 ore . . . . . . . . .
10 ore. .
Total . . . - .
561,694.25
7. Stock of gold and silver on December 31, 1911:
Character.
In public
treasuries.
In banks.
Kroner.
69, 000.000
Kroner.
67,500,000
6,500,000
23,000,000
6,300,000
75,300,000
97,000,000
8. Stock of bank notes on December 31, 1911:
Items.
Notes
outstanding.
Gold
holdings.
1 Legal-tender
silver
holdings.
Kroner.
140,000,000
Kroner.
69,000,000
Kroner.
6,300,000
150
REPORT OF THE DIRECTOR OF THE MINT,
12 (a). Imports and exports of gold during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin, Norway .
Kroner.
Kroner.
4,000,000
Gold bullion, England .
6,500,000
12 (b). Imports and exports of silver during the calendar years 1910 and 1911:
Classification and country.
Imports.
Exports.^
1910.
Silver bullion, Hamburg .
Kroner.
214,600
336, 400
23,200
Kroner.
Remainder of Germany .
Great Britain . . .
Total .
574,200
1911.
Silver bullion .
864,200
3,480
1 No exports of silver in 1910.
FINLAND.
1. Gold and silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
Gold 20-mark pieces (new coinage) .
161,000
616,000
Finnish math*.
3,220,00(1
i 332,000
Silver 50-pcnm pieces .
1 Of which 308,000 Finnish marks was new coinage and 24,000 Finnish marks was recoinage of used domes¬
tic silver coins returned to the mint.
4. Amount of gold returned from use in the industrial arts to monetary use, deposited
at the mint for coinage :
Partly old works and partly bullion
Description.
Gold.
Fine ouiwes.
80.51
5. Amount of United States gold coin imported during 1911: $82,000.
7. Stock of gold and silver in the country on December 31, 1911:’
Gold coin....
Gold bullion.
Silver coin. ..
Silver bullion
Character.
In banks.
In circulation.
Finnish marks.
25,392,997.14
10, 351,026. 52
2,619,568.00
16,872.48
Finnish mark*.
19,219, 180
38,380,464. 14
19, 219, ISO
Total
OPERATIONS OF THE MINT SERVICE,
151
8. Bank notes outstanding at the end of the year 191] :
Item.
Notes
outstanding.
Gold
holdings.
Legal-tender
silver holdings.
In banks of issue .
Finnish marks.
Finnish marks.
Qc Q9A on
Finnish marks.
2,619,508
llOy 600 y U<U
OOy 06' 1} yu
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold bullion, England .
Finnish marks.
12,362, 102.96
Finnish marks.
3,311.058.66
Gold not worked (according to the statistics of trade):
Sweden .
1,652.00
3,519.00
10,996,172.00
Germany .
Great Britain .
Total .
11,001,343.00
Silver bullion (according to the statistics of trade; silver not worked):
Russia .
533.00
12, 275.00
7,047.00
650.00
228, 704.00
Sweden .
Norway . .
Denmark. .. .
Germany .
Total .
249,209.00
FRANCE.
1. Amount of gold and silver coined during the calendar year 1911:
Denominations.
Pieces.
Value.
Gold:
New coinage . . . . . . .
Francs.
112,126,230.00
100 frnnr*<3 .
30,067
5,346,044
1,880,865
9n franrx; .
Recoinage, domestic, 10 francs .
18,808,650.00
Total .
130.934,880.00
Silver:
New coinage . .
33,233,656.56
5,542,000.00
4, 881, 817.00
Recoinage, domestic, 1 franc .
5,542,000
Recoinage, foreign .
50 centimes .
1,329,503
Total .
43,657,473.56
Colonial coinages:
IN DO-CHIN A.
Denominations.
Pieces.
Value.
Silver:
2,239,850
2,310,839
Piasters.
407,970. 00
231,083. 90
Francs.
2,527,038.00
1.247.S53.06
4,550,689
699,053.90
3,774,891.06
15,234,000
152,340.00
822,036.00
152
REPORT OE THE DIRECTOR OF THE MINT
TUNIS.
Denominations.
Pieces.
Value.
Gold:
20 francs .
23
83
Francs.
460.00
830.00
10 francs .
Total .
106
1,290.00
Silver:
2 francs .
475,303
1,050,703
1,003
950,606.00
1,050,703.00
501.50
1 franc .
50 centimes .
Total .
1,527,009
2,001,810.50
Bronze, 10 centimes .
500,000
50,000.00
2. (a) Coinage executed for other Governments during 1911:
GREECE.
Denomination.
Pieces.
Value.
Silver:
2 drachmes (recoinage) .
1,500,000
1,881,817
Drachmes.
3,000,000
1,881,817
1 drachma .
Total .
3,381,817
4,881,817
ETHIOPIA.
Denomination.
Pieces.
Value.
Silver, 1/20 talari .
w non nnn
Talaris.
.inn nnn
Francs.
o nvifi non
Op wv» uuu
41KJ, UUU
Z, UoU, Wv
MOROCCO.
Denomination.
Pieces.
Value.
Silver:
1 piaster .
i piaster . .
2,300,664
1,30S,005
496,000
Piasters.
2,300,664.00
654,002.50
124,000.00
Francs.
11,503,320.00
3,270,012.50
620,000.00
\ piaster . .
Total .
4,104,669
3,078,6611.50 |
15,393,332.50
VENEZUELA.
Denominations.
Pieces.
Value.
Gold:
20 bolivars .
5 bolivars . .
109,868
1,103,773
750,000
Bolivars.
2,197,360
5,518,S65
1,500,000
Francs.
2, 197,360
5,5'8,S65
1,500,000
2 bolivars . .
Total .
Silver:
1 bolivar .
\ bolivar . .
1,963,641
9,216,225
9,216,225
2,000,000
300,000
600,000
2,000,000
150,000
150,000
2,000,000
150,000
150,000
i bolivar . .
Total .
2,900,000
2,300,000
2,300,000
2. (6) None.
4. None.
5. Unknown.
upon the output'of precious meHls^Mh^ ^ Fre?Cp <l*rector of the mint, bearing
being the latest figures obtainable K °f France for the >'ear 1910> these
kilograms, C valued* at Ji^;' *085 ?“nes ,of France for 1910 was 2,568
,oio,uuo irancs (!fi,/07,085); producUon of factories 133 kilo-
888
OPERATIONS OF THE MINT SERVICE.
153
grams valued at 458,000 francs ($88,394); output of silver by mines, 17 455 kilograms
valued at ^>995, 000 francs ($387,315); output of silver in factories 52,967 kilograms'
valued at 5 932,000 francs ($1,144,876). (The value of the gold is calculated on the
basis of 3,444 francs 44 centimes per 100 kilograms, and that of the silver'112 francs.)
The output of factories relates to the treatment of both domestic and imported min¬
erals and should therefore not be added to that of the mines to form the total output
of the country.
French colonies. — West Africa produced 18,350 kilograms of gold, valued at 45,900
francs ($8,838); Madagascar, 3,235 kilograms, valued at 9,058,000 francs ($1,748,194);
Indo-China, 113,589 kilograms, valued at 284,918 francs ($54,989); Guiana, 3,850
kilograms, valued at 11,550,000 francs ($2,229,150).
The statistics for 1911 are not yet available.
7. Stock of gold and silver on December 31, 1911:
Character.
•
In Bank of
France.
In other banks.
In circulation.
Gold coin .
Francs.
1,270,000,000
1,920,000.000
810,000,000
Francs.
Francs.
4,700, 000,000
Gold bullion and foreign coin .
Silver coin . . .
1,000,000,000
Total .
4,000,000,000
i 100,000,000
5,700,000,000
i Approximate amount of gold and silver coin.
Note.— There are no public treasuries in France as in the United States, the Banque de France with
branches in all the large cities of France, being the officially designated depository and bank of issue for the
French Government. The other French banks, at the close of business each day, turn over to the Banque
de France such ol the day’s receipts as are deemed not absolutely essential to meet the calls for the follow¬
ing day. It is estimated that the amount of currency thus retained by the other banks daily amounts to
100,000,000 francs. The governor of the Banque de France in transmitting the data for this reply informs
me that these figures are somewhat “conjecturable ” aud are given under great reserve, but are the result of
investigations by their specialists.
8. Stock of bank notes, December 31, 1911:
Items.
Notes out¬
standing.
Gold holdings.
Legal-tender
silver holdings.
Bank of France .
Francs.
5,664,000,000
Francs.
3,190,000,000
Francs.
805,000,000
Note.— As the Banque de France is the only bank authorized to issue notes and paper money, and the
Government issues none except through this bank, the information supplied relates only to tLat institution.
Besides the amounts of gold and silver covering the note issue, the Banque de France had other commercial
assets to the value of 1,669,000,000 francs at the close of business December 31, 1911.
9. No.
12. (a) Imports and exports of gold during 1911:
Classification and country.
Imports.
Exports.
Weight.
Value.
Weight.
Value.
Gold coin: i
England .
Kilograms.
1,611
336
294
179
2,895
1,432
Francs.
20,916,000
Kilograms.
Francs.
Rfildum .
gprmanv . . . . .
Tfolv . . . .
Turkey . . . . . - . .
Othpr rnnntrios . .
6,747
20,916,000
Gold bullion:
264
5
■ 2,745,000
53
■ 10,521,000
600
5
692
2,730
966
2,745,000
3,383
10,521,000
440
i Exports of gold coin not given. 1 Countries of origin not given.
Note. — These figures are based upon the provisional statistics of the French customs for 1911, tho com¬
plete returns by countries in quantities and values appearing only in Oct., 1912.
154
REPORT OF THE DIRECTOR OF THE MINT.
12 (ft). Itnports and export* of silver during 1911:
Classification and country.
Imports.
Exports.
Weight.
Value.
Weight. Value.
Silver coin:
England .
Kilograms.
Francs.
■12,094,000
Kilograms. Francs.
Belgium .
71,787
76
104
126
m
45,503
' 9,250,000
Germany .
Spain .
. !
Italy .
Switzerland .
Other countries .
2,575
1 , 433
7,583 (■
Total .
74,668
12,694,000
^ .54,985 j
9. 250,000
Silver bullion:
England .
524
1, 735
962
27, 790
■ 3,105,000 ■
Belgium .
ii,839 J
| 1,131,000
Italy .
Other countries .
Total
31,011
3, 105,000
11,839 1,131,000
Monetary Circulation in France.
IJrom “ L'Economiste Eiirop^en,” Paris, Mar. 22, 1912. J
report of the control com-
7J M«uWas C0.ln°T,1 at French mint in 1911 a little less than 129 millions (128 -
(i 200 751 50 fra ik* (struck' fron/m T 1 * *1G °1 ^ract‘ona* silver coins amounted to
si’lver 6cus of data n21?iS proceeding from remelting of 5,822,821 francs of
1908 in 1-franc and 50 confirm. ,*!?’ application of the convention of November 4,
SiTo^SS&pSa 5,fei‘S0' <0-900 to “5)
GERMANY.
Gold coined during the calendar year 191] :
Imperial cold coins:
Double crowns (20 marks)
Crowns (10 marks) . ’/.'.I*.'////.] .
Total .
The Imperial silver coinage was as follows:
5 marks .
3 marks .
2 marks .
1 mark .
50 pfennigs....
Total.
Other coins struck at Berlin during 191 1 ;
Marks.
101,732,520
5,318,610
107,081,130
Marks.
800,000
24,354,933
4,628, 150
8,447,420
2,408,166
40,638,669
for german east africa.
Silver coins, 1-rupee pieces . . Rupees.
Is ickel coins, 10-heller pieces. . . *>99 934. 00
. . *50j036. 30
Nickel coins: F°R GEUMAN POSSESSIONS IN KUO CHAU (CHINA).
10-cent pieces _
5-eent pieces . | . £>4 970. 30
Total . . .
. 35,019. 65
OPERATIONS OF THE MINT SERVICE.
155
Coins struck ac the Hamburg Mint during 1911:
FOR GERMAN EAST AFRICA.
Silver coins, 1-rupee pieces .
Bronze coins, 1-heller pieces . -!!!..!!!!!!!!!!]!!!!!!
German Banks op Issue Since 1904.
Rupees.
1,400,000
64,200
From Bulletin de Statistique, Paris, September, 1912.]
The German Economist has published the annual statistics upon the comparative
condition of the German banks of issue.
The circulation of bank notes and the disposable funds at the end of each year
were as follows:
Years.
Notes in circu¬
lation.
Metallic re¬
serve.
1904 .
Marks.
1,757,130,000
1,825,138,000
1,954,933,000
2,052,496,000
2,126,058,000
2,241,893,000
2,224,619,000
2, 407,245,000
Marks.
1,034,041,000
909,449,000
808,436,000
863, 411,000
1,135,134,000
1,066,936,000
1,063,837,000
1,133,519,000
1905 .
1906 . . .
1907 .
1908 .
1909. ... .
1910.; . . .
1911 .
GRAND DUCHY OF LUXEMBURG.
1 and 2. No mint. (In the Grand Duchy of Luxemburg, German and French gold
and silver currency is in circulation.)
3, 4, and 5. No reply.
6. No gold, silver, copper, or lead mines.
7. Stock of gold and silver in public treasuries on December 31, 1911: Gold and
silver coins, $2,300,000, divided as follows:
Gold of Latin Union
Silver of Latin Union . .
Gold from Germany....
Silver from Germany..
Nickel and bronze coins
$16,000
12,000
2,000,000
165,000
150,000
In circulation, nickel 10 and 5 ccd times, coined at the mint in Brussels, $100,000
in 1900; $15,000 in 1908. Bronze 2£ centimes, coined at the mint in Brussels, $2,000
in 1908.' German currency, notes, gold, silver, nickel, and bronze, at nominal value;
all the silver and gold coins of the ‘‘Latin Union, ” at nominal value, at about 101.50
per cent; French bank notes at about 101.50 per cent; Belgium bank notes at about
101.50 per cent; and bank notes of the Luxemburg (International Bank) at about
100 per cent.
8. Bank notes in circulation on December 31,1911:
Bank of France .
Bank of Belgium .
Reicbsbank, of Germany .
International Bank of Luxemburg
$50,000
60,000
5,000,000
600,000
Total
5,710,000
10, and 11. No
(See annexed “Note.”)
NOTE.
I. In order to simplify the replies to the interrogatories, a few words on the monetary
ByTh™ Grand* Puchyhas the power of coining money. This principle is set forth in
our constitution, but till now no use has been made of this power, except in the making
of various coins of 10, 5, and 2§ centimes. These are current legal tender among pri¬
vate persons up to 5 francs for every payment State financial offices must accept
the same to a larger quantity in the payment of taxes In execution of the laws of
1852, 1854, 1859, 1864, 1869; and 1870, 600,000 francs worth of bronze money was
156 REPOKT OF THE DIRECTOR OF THE MINT.
ivSUth?iteU8h°iUlitH? Prand Duchy- A law of the 29th of December, 1900, author-
and the ifS a^.al °AfU ^ronze money. with exception, however, of the 2\ centimes
h D U,Utl0n fherefor ot 500,000 francs’ worth of nickel pieces of lolnd 5 cents
iW nf 7? Srff 1 laW r,elatln,? t0( the of 1908 the Government authorized the coin-
9i^/ia Jp, 000 francs worth of 5 and 10 cents nickel pieces and 10,000 francs’ worth of
25 centimes bronze pieces.
Grand Duchy having no money, the emission of 1870 and of 1900 and 1908 were
provided by the Bank of Brussels, and other issues were furnished by the Bank of
rans. in order to obviate the absence of gold and silver money, moneys of the Latin
Umon have become current to the nominal value. German pieces, which have been
introduced in commercial and financial transactions, are current at the rate of 1 fr
rDv Per /^ark. United States gold and silver pieces are vary rarely met with, and only
in isolated cases m our public treasuries. To complete this statement respecting legal
money, it should be added that in 1869 the values enumerated were expressed in
.Netherlands florins in all public and administrative documents. By the law of
December 20, 1848, the franc was adopted as the unit in the carrying out of obliga¬
tions prior to 1849, stipulated in florins, the value of the franc was fixed at 474 per florin,
ihe Luxemburg franc does not exist; it is only represented by metallic circulation.
It is a term in exchange — the unit adopted in commerce and public administra¬
tion m the management of their accounts. The value of the Grand Ducal franc
which custom has retained, is eight-tenths of the German mark, or 80 pfennig Now’
however, in cases of agreement expressly stipulating that the payment be°made in
effective francs, the rule at the State treasury is that they are made in German silver.
At any rate, the liberality granted to all moneys admitted in our country is the same
as in the country of origin.
According to information furnished me in regard to the consumption of fine gold
and silver in industrial art, it should be added that for the last ten years no rings
bracelets, and chains have been made in the country; the importation of these metals
is almost unknown, rine jewelry is imported from France and ordinary jewelry
from Germany. J J J
III. The importation and exportation of gold and silver coin of the Grand Duchy
(the importation and exportation of gold and silver ingots are insignificant), speaking
for the public treasuries, remams apparently the same as may be approximately fixed
as follows:
Gold from the Latin Union . fronM! Cftnnn
Silver from the Latin Union . . ^(S' * 5};'™
—
tt A® I have already had the honor to state, the importation of gold and silver from the
United States is hardly anything There are no gold or silver mines in the Grand
Duchy, and consequently no refineries of these precious metals. The amount of
gold and silver in store in the State treasury, the banks, and in circulation may be
approximately stated at 10,000,000 marks. J
o 1 Y' T r? Gran(* Duchv does not issue bank notes. N evertheless, bank notes of the
Bank of France, the National Bank of Belgium, the Reichsbank of Berlin, and of the
International Bank of Luxemburg are accepted and given in our public treasuries,
at their equal value in gold. The treasury is authorized to accept and give bank
notes in payment; private persons are not obliged to accept them in the public treas-
uries. r
The financial establishment founded at. Luxemburg, under the company name of
the Banque Internationale, is only authorized to issue bank notes payable to bearer,
the refunding of which is guaranteed by a security F y
At the office of the company the bank notes must be changed at their face value.
To insure the exchange of these notes the bank is under the obligation to retain at all
times in its treasury, in current silver or in gold and silver ingots destined exclusively
for this purpose a sum equal to one-third at least of the sum of the notes in circulation.
The sum total of the bank notes in circulation in the Grand Duchy (this of course
mate?yD^foUowsr-P° ClrCulatl0n m the State treasury) may bertated approxi-
NSSomiFC^::."v.v.v.v.v.v.v.v;;.v.v.v . francs.. 250,000
Reichsbank . . . do
International Bank . . marks.. 20,000,000
. . do 3,000,000
In conclusion I would add that in regard to the haus of gold, compared with the
actual rate of the country, there have been no fluctuations for sevSPye5s
The Collector General
OPERATIONS OF THE MINT SERVICE.
GREAT BRITAIN.
Coinage op the Year 1911.
[From Forty-second Annual Report of the Deputy Master and Comptroller of the Mint, mi.)
IMPERIAL COINAGE.
157
Denomination.
Number of
pieces.
Nominal value.
Gold: i
Sovereigns .
9fj Hid 1
£ >. d.
30,044,105 0 0
3,052,053 0 0
Half sovereigns .
oUj 1 UO
f. ||)i 1
Total . .
vj 1 I/O
1 AO Oil
33,096,158 0 0
Silver:
Half crowns .
O Of liOj Zi 1
9 014 573
364,321 12 6
595,128 8 0
1,003,295 1 0
9Qfi CflO 1 c A
Florins .
Oi 3
*> Q51 9R4
Shillings .
Oy uO 1 j
20 Oft* 001
Sixpences .
Ml, UIW, uKJl
Q 1 R!% 210
Fourpences (Maundy) .
i /) Aw, oiu
1,768
5 fiAQ 075
/Zo, 006 10 0
90 O 4
Threepences .
Zt7 47 1
73 03ft ft Q
Twopences (Maundy) .
v, O *0, Ulil
1,635
1 Of wO C7 w
13 12 6
7 19 5
Pence (Maundy) .
1,913
Total .
43 935 450
2,264,717 6 6
Jw, W J
Bronze:
Pence . .
23,079,168
12,570,880
5,196,800
96 163 4 0
Halfpence .
Uv, iw 1 v
26,189 6 8
5,413 6 8
Farthings .
Total . : .
40,846,848
127,765 17 4
1 £5 and £2 pieces in addition to the ordinary denominations were struck in 1911 for issue as “Specimen
coins,” but coins struck for this purpose are not included in the above table.
Colonial Coinages.
AUSTRALIA.* 1 * * *
Denomination.
Number of
pieces.
Nominal
value.
Silver:
907,870
£90,787
2,200,000
2,000,000
110,000
50,000
8,000,000
100,000
13,107,870
350,787
Brcnzc:
3, 768, 000
2, 832,000
15,700
5,900
6,600,000
21,600
BRITISH GUIANA.
Silver, fourpences . . .
30,000
£500
, i?ocf a and Uganda, and Jamaica, and 6,000,000 of the three-
1 Tho nickel-bronze coinages for Ceylon. Last a ru a c * dated mQ although actually issued
Pences for Australia bear the effigy of Iving Edward ana u
during 1911.
76347°— 13 - 11
158
REPORT OF THE DIRECTOR OF THE MINT
Colonial Coinages — Continued.
BRITISH HONDURAS.
Denomination.
Number of
pieces.
Currency
value.
Silver:
Fifty cents .
12,000
14,000
$6,000
Twenty-five cents .
3,500
Total .
26,000
9,500
Nickel-bronze, 5 cents .
10,000
50,000
500
Bronze, cents .
500
CEYLON.1
Silver:
Twenty-five cents .
400,000
1,000,000
Rupee*.
100,000
100,000
Ten cents .
Total .
1.400,000
200,000
Nickel-bronze, 5 cents .
919,935
45,997
EAST AFRICA AND UGANDA.1
Silver, 50 cents .
150,000
555,556
75,000
Nickel-bronze, cents .
5,556
JAMAICA.1
Denomination.
Number oi
pieces.
Nominal
value.
Nickel-bronze:
Pence .
144,000
144,000
48,000
£600
Halfpence .
300
Farthings .
50
Total .
336,000
950
_
JERSEY.
Bronze:
Pence .
204,000
72,000
£850
150
Halfpence .
Total .
276,000
1,000
MAURITIUS.
Denomination.
Number of
pieces.
Currency
value.
Bronze:
Two cents . .
*nn non
Eupft*.
10,000
10,000
Cents . . .
OW, IWU
1 non nm
A y vl/U^ vA/U
Total .
i wi non
20,000
1 9 uva.*
NEWFOUNDLAND.
Silver, 50 cents.
$100,000
1 The nickel-bronze coinages for Ceylon. East Africa and Uganda, and Jamaica and 0 000 000 of the
lMuedIdurlng019u!IBtral a ^ thecfl‘gy Klng Edward and arc therefore dau>d^l0°although actually
159
OPERATIONS OF THE MINT SERVICE.
Colonial Coinages— Continued.
SUMMARY FOR 1911.
Description.
Number of
pieces.
Nominal value.
Imperial coinages .
120,930,518
25,161,301
£ s. d,
35,488,641 3 10
420,961 6 9
Colonial coinages .
Total .
146,091,879
35,909,602 10 7
The imports and exports during the last five years have been as follows:
Year.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
1907 .
£57, 000,000
46,000,000
54,500,000
57,500,000
48,800,000
£50,900,000
49, 700,000
47,200,000
50,500,000
39,000,000
£18,000,000
12,500,000
14,000,000
15,900,000
16,000,000
£17,000,000
12,200,000
12,600,000
13,300,000
17,000,000
1908 .
1909 .
1910 .
1911 .
Order in Council Approving Proclamation Directing that Certain Gold and
Silver Coins of the United States of America Shall Cease to be Legal
Tender in the Colony of the Bahamas.
[From Forty-second Annual Report of the Deputy Master and Comptroller of the Mint, 1911.]
At the council chamber, Whitehall, the 16th day of December, 1911.
Present: His Royal Highness Prince Arthur of Connaught; Archbishop of Can¬
terbury; Lord Chancellor; Lord President; Prime minister, Earl Beauchamp; Master
of the Horse, Lord Emmott. , . , , , ,
The following draft proclamation was this day read at the board and approved.
Almeric Fitzroy.
By the Counsellor of State.
A PROCLAMATION.
Directing that certain gold and silver coins of the U,n^ed of Amenca eha11
b cease to be legal tender in the colony of the Bahamas.
*
ttti Tj'o Moioattr Tirqo nlpfiRpd bv his commission dotted the 10th day of No\ giu-
ffisRoyal Highness Prince Arthur of Cunn.ugh,
K C Ct C V O His Grace the Lord Archbishop of Canterbury, G. C. V. O., the
T • V'Vt- YVru Ui’i!nfctnt Britain and the Lord President of the Council, or
Lord High Chancellor of Great > froin tjje United Kingdom, to summon
any two of them, in jr™, pri w Council and to signify thereat His Majesty’s
and hold on His Majesty sbeh Majesty’s approval in council is required;
a w7«%evi *£-***" Bpocmcd ,hc proc‘
lamation to His Majesty’s colony ot proclamation that any coins coined m a
And whereas it is provided by the f P promulgation of the said proclamation,
foreign country which, at the da*e, in any colony or possession to which the said
were by law current and a legal tend proclamation otherwise directed continue
tender at tie same rate and np to the same amount as
he5Sd whereas under the provisions K’^pIJed^
regulate any matters relative to the ? r ^ tjje ,
tive of the Crown which are not b J
or alter any proclamation previously ’
160
BEPORT OF THE DIRECTOR OF THE MINT.
And whereas by virtue of a proclamation of Her late Majesty Queen Victoria, dated
the 19th day of August, 1853, it was provided that throughout the whole of His Maj¬
esty’s West India colonies certain gold coins of the United States mentioned in the
proclamation should circulate and be received in payment as being of the full value
and equivalent to current money of the United Kingdom at the rates mentioned in
the proclamation;
And whereas by a proclamation of Her late Majesty Queen Victoria, dated the
9th day of March, 1854, it was provided that the provisions of the said proclamation
dated the 19th day of August, 1853, should extend to certain other gold coins of the
United States not specified in that proclamation;
And whereas by a proclamation of Her late Majesty Queen Victoria, dated the
1st day of March, 1864, it was provided that certain silver coins of the United States
should circulate and be received in payment as being of the full value and equiva¬
lent to current money of the United Kingdom at the rates mentioned in the proc¬
lamation ;
And whereas it is expedient that the said gold and silver coins of the United States
mentioned in the said recited proclamations of the 19th day of August, 1853, the 9th
day of March, 1854, and the 1st day of March, 1864, should no longer be legal tender
in His Majesty’s colony of the Bahamas.
Xow, therefore, we, the said Prince Arthur of Connaught, Lord Archbishop of
Canterbury, Lord High Chancellor of Great Britain, and Lord President of the Coun¬
cil, being authorized thereto by His Majesty’s said commission, do hereby, by and
with the advice of His Majesty’s Privy Council, on His Majesty’s behalf, order, and
it is hereby ordered, that the said gold and silver coins of the United States shall, as
from the 1st day of January, 1912, cease to be current or legal tender in His Majesty’s
colony of the Bahamas;
Given at Whitehall, this 16th day of December, in the year of our Lord 1911, and
in the second year of His Majesty’s reign.
God save the King.
GREECE.
1. Silver coinage during 1911. (See No. 2 b.)
2 (a). None.
2 (6). Silver coined at foreign mint: $2,000,000.
3. Impossible to ascertain.
4, 5, and 6. No reply.
7. Metallic stock: Gold and silver coin in National Bank of Greece, 13,000,000
drachmas.
8. Stock of notes December 31, 1911.
Items.
Notes
outstanding.
Gold
holdings.
Silver hold¬
ings (subject
to draft).
Government .
Drachmas.
63,000,000
80,000,000
Drach mas.
Drachmas.
Banks of issue .
Total .
143,000,000
4,000,000
26,000,000
9. Premium on gold during 1911:
Highest .
Lowest .
Average .
10. None.
11. No.
12 (a and 6). Unknown.
Per cent.
.... tool
.... 9S4
.... D9i
OPERATIONS OF THE MINT SERVICE
1G1
ITALY.
1. Amount of gold and silver coined during 1911 :
Denomination.
Pieces.
Value.
Gold, new coinage, 50 lire .
20,000
Lire .
1,000,000
Silver, new coinage:
5 lire .
60,000
1,534,810
3,069.424
i 300, 196
2 lire .
Total .
1,594,810
3,369,620
1 Domestic recoinage.
2 (a and 6). No.
4. Gold and silver returned from use in the industrial arte to monetary use during
1911: None; the pieces coined in 1911 were all obtained by melting old or foreign
coins.
5. In 1911 no United States coins were imported or melted at the mint
7. Metallic stock on December 31, 1911:
Classification.
Gold:
In coins —
Decimal .
Nondeeimal.
In bullion .
Nominal
value.
Lire .
380, 748,815
10,276,607
783,468
Total.
Silver:
In coins (decimal; —
Legal fineness, 0.000 .
Legal fineness. 0.835 .
Colony of Eritrea —
In coins (decimal)—
Legal fineness, 0.000.
Legal fineness, 0.835.
Nondecimal .
In bullion .
Total .
Nickel .
Bronze .
391,808,890
99,514,880
4,789,975
759,875
960,029
54,955
4,256,507
110,336,221
11,654,184
2,594,7 66
N B j Tbc above figures Include for the amount shown here below, the following special funds.
9. Premium on gold during 1911.
Highest .
Lowest .
A vertigo
Items.
Notes out¬
standing.
Gold hold¬
ings.
Lire.
485,2*0,695
2. 193,381,850
.tire.
220, 830,655
1,268,068.909
Banks of issue .
2, 678, 672, 545
1,494,899,024
10. Lawn paafled durmg lOl l affpotj^^he^cu^e^ of 2 lire and 10 centos
(60-lire gold piece and 6-Ure liver p« ).
Per cent.
L 35
.225
. 5482
Royal decree of January 19,
* — — n i«»n ft ri/i in /•entessimi,
com- •
e
162
REPORT OF THE DIRECTOR OF THE MINT
Statement on December 31, 1911.
Specification of the special funds.
Coined
gold.
Silver.
Nickel.
Bronze.
Total.
Five-franc
pieces,
0.900.
Maria-
Theresa
thalers.1
Metallic funds deposited in the
bank of deposits and loans as a
guaranty of State notes .
Lire.
208,816,920
18,013, 735
145,601,083
Lire.
Lire.
Lire.
Lire.
Lire.
208,816,920
18,013,735
260,480,994
Funds supplied to the Bank of
Naples .
Metallic funds in the Bank of
Italy for the treasury provincial
service .
99,040, 100
2,601,194
10,861,407
2,377, 210
Total .
372,431,738
99,040,100
2,601,194
10,861,407
2,377,210
487,311,649
1 Of the colonjr of Eritrea.
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
GOLD.
Classification and country.
Imports.
Exports.
Un wrought gold:
Austria-Hungary .
Kilograms.
19
31,829
Lire.
1 71 n
Kilograms.
59
7
Lire.
5,310
677 700
France . ...... .
JL, flU
9 ftfvi run
Germany .
Q W) 1
i, 00*x, UIU
323,190
1 y WV
77 940
Great Britain .
Oy JJl
ouu
32
2! 880
501,750
1 710
Switzerland .
5, 575
Tunis .
IQ
Argentina .
191
17,’ 190
180
United States .
2
Total .
OK AOQ
0 1 on ci n
1 A Oil
1 9J%4 fifO
oo, ioy
Of lo«7p Oil/
14, Z/4
1 y VA V
Gold coin:
Austria-Hungary .
94
11 .inn
7,108,300
585.900
3,100
Belgium .
i •*, *±uu
i,
189
Denmark .
1
France .
O no
1 n non onn
QC1
1 181 100
Germany .
0, Mi
O
1U, you, JUU
9,300
oM
1,456
on
1 f lOl t
4 600
Great Britain .
0
T. dlOi UW
248,000
241,800
6,200
Netherlands .
ou
iq
Russia .
/ 0
0
Switzerland .
004
COO 1AA
i
AQ1
1 700
European Turkey .
Brazil .
3
00J, 400
9,300
487
46
1, OW, IW
142,600
VAJli 11 /V 11 It, I ltd . .
United States .
1
3,100
4
12,400
Total .
Q ’7*7*7
11,708,700
5,017
1 Z 700
'
O, ill
ID, OOlf
SILVER.
Un wrought silver:
Austria-Hungary _
1
3,555
2,152
30
5
2,600
9,243,000
5, 595,200
78,000
13,000
France . .
iJoTTnomr
843
8,008
2.191,800
20,820.800
VXcI Illall \ . .
Great Britain .
S 7 i i 7»irlnn r\ . ••••«
O \V lltCl lei 11 Cl .
Total
276
717.600
5,743
14,931,800
9,127
23.730.200
Oliver coins 01 the Batin Unit
Austria-Hungary . .
>n:
241
4
9,993
156
48.200
enn
1,998.600
31.200
1,390
278.000
Belgium .
France .
Germany .
.
.
4,525
375
16
1
7,737
905,
75,000
3.200
200
1,547.400
Netherlands .
Russia. ...
.
.
European Turkey .
Portuguese Africa. . .
Argentina .
.
.
622
15
52
109
88
124,400
3,000
10,400
21.800
17,000
United States .
Total
.
11,280
2,256,000
14.044
2,808.S°°
OPERATIONS OF THE MINT SERVICE,
163
NETHERLANDS
1. Gold and silver coinage during 1911:
Denomination.
Pieces.
Value.
Gold (new Goinage): 10-florin pieces . . -
774,544
Florins.
7,745.440
Silver (recoinage):
Flnrinq .
2,000,000
1,600,000
4,000,000
"nipppc . . . . . . .
1 fLppnt niAppq . . .
7.600,000
12,800,000
4,000,000
10,000,000
TaIqI .
14,000.000
2 2,000,000
• Domestic recoinage. Face value of coins melted 2,884,464 florins.
2 Foreign recoinage (for East Indies). Face value of coins melted 1,978,234 florins.
2 (a and b). None.
7. Stock of gold and silver on December 31, 1911:
Character. •
In public
treasuries.
In Bank of
the Nether¬
lands.
In circu¬
lation.
Gold coin * .
Florins.
5,900
Florins.
26.249,000
114. 111,000
11.770,720
Florins.
Gold bullion . . .
Silver coin . .
Silver bullion .
59.882,790
413,390
152,130,720
59,882, 790
j T* . 1 ! _ A/1
i East Indies not included.
8. Bank notes outstanding at the end of the year 1911 :
Item.
Notes out¬
standing.
Gold hold¬
ings.
Legal-tender
silver hold¬
ings
Florins.
312,925,000
Florins.
140,360,000
Florins.
11,733,228
?2a°aand ^Import. and exports o'l gold and silver during the calendar year Mil
Gold.
Silver.
Classification.
Imports.
Exports.
Imports.
Exports.
Coin . - . . . . . .
Bullion . : . . .
Ore .
Florins.
4, OSS. 473
11,923.982
198.003
Florins.
10,616,783
8,575
2,500
Florins.
1,380.345
60,220
Florins.
8.173,373
• 5.017
IS, 750
16,210,458
10,627,858
1,440,565
~~8, 197, 140
164
REPORT OF THE DIRECTOR OF THE MINT,
NORWAY.
1. Amount of silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
50,000
200,000
400,000
1,650,000
2,300,000
Kroner.
Total .
i 415,000
1 Of this amount 114,000 kronor was from recoinage of domestic coins.
No gold was coined.
6. Amount of silver produced from mines of the country, from July, 1910, to June,
1911: From Kongsberg silver mine (estimated), 9,195 kilograms (fine); value, 588, 508.84
kroner.
7. Stock of gold and silver on December 31, 1911:
Character.
In banks.
In circu¬
lation.
Gold coin . - . ...^ . . .
Kroner.
1 60, 385, GOO
677,000
Kroner.
(*)
13, 100,000
Silver coin .
Total .
61,062,600
13, 100,000
1 In Norges Bank. * Unknown.
8. Notes outstanding at the end of the year 1911:
Items.
Notes out¬
standing.
Gold
holdings.
In Norges Bank .
Kroner.
92, 872, 700
Kroner.
60,385,600
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Gold.
Silver.
Imports.
Exports.
Imports.
Exports.
Coin:
Denmark .
Kroner.
4,001,201
190
Kroner.
Kroner.
161,008
17, 197
Kroner.
154,000
Other countries .
Germany .
39, 729
Sweden .
488, 500
Total .
4,001,391
39,729
178,205
642,500
Bullion:
Other countries .
G7, 217
15,180
724,377
Germany . . .
Total .
119, i25
07,217
739,557
119,125
OPERATIONS OF THE MIST SERVICE,
165
PORTUGAL.
1, 2. 4. and 5. Nil.
7. Stock of gold and silver coin in circulation on December 31. 1911:
BUreroota . . . . E’—’!®2
. . . — — . - . 23,077,871
Total -
w . 41,0*4,873
8. Notes outstanding at the end of the year 1911:
Items.
SotesonU
standing.
Gold hold¬
ings.
LesaUender
silver hold¬
ings.
(Toremnent and tanks of bene .
. V<2, 411,6X3
*5,530,629
V, 024,931
9. Premium on gold during 1911:
Highest .
Ixrweft . . . .
Per cent.
. 10
. 5
Average .
. 8.5
The actual currency of the country is paper.
10. La w passed during 1911: Copy herewith (“R^forme du Syst£m6 Mon6taire).
11 Report on operations of the Mint: Copy herewith (“Paper Sellado, Estadistica
Fiscal, 1852-53, 1908-9, 1909-10’*). , , , - L , J
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
GoM.
Silver.
('Ibssificaiion and country.
Imports.
! Export*.
Imports.
Exports.
Cote:
12,188
72
11.500
210
1,530
210
3
EjDfJftOd.,, . . .
315
389,000
Do, . . . . .
. iii
............
. 842
.
a vl l-Wt v ' '
104,246
24,260
5,052
390,818
Bullion:
fip&te .
- - - . . . . .
'"'240,060
.
120
5,191
435,106
. 365
Do . .
Portu/uevi; colonies . . .
. 330
164,250
- . - .
240,330
604,667
365
Decbee of May 27, 1911.
The provisional Government of the Portugese Republic has made known in the
name of the Republic that they ^^^ff/f^bli^Spting India, the monetary
Article 1- Thwugb^ttheternu^of ^^theiLe £eigfjt of fike gold as the
S^eKl dpi^ S tmrm to this wav the relation between the present and the
new^nonetary system will be 1,000 reis per icu.
166
REPORT OF THE DIRECTOR OF THE MINT.
Art. 2. There shall be coined and issued gold pieces of 10, 5, 2, and 1 6eus, 0f which
the equivalanta in reis, the diameter, fineness, and tolerance are given in the following
GOLD.
Value in
reis.
Fineness.
Weight.
Tolerance
allowed for
wear below
that of
manufac¬
ture.
Denomination.
Diameter.
Lawful.
Tolerance.
Lawful.
Tolerance.
10 6cus .
Reis .
10,000
5,000
2,000
1,000
Milli¬
meters.
30
24
19
15
Thou¬
sandths.
Thou¬
sandths.
Grams.
18.0650
Thou¬
sandths.
Thou¬
sandths.
5 6cus .
2 6cus .
900
2
y. Uozo
2
5
1 4cu .
O. OIoU
1.8065
These coins will have a grooved edge; they will bear upon one face a composite or
symbolical figure with the inscription “Republica Portuguesa” and the date; and
upon the other face, national 4cu and designation of their value.
Separate paragraph. — A competition will be opened between national artists for
models and engravings of designs.
Art. 3. The coinage and issue of the gold coins shall be unlimited. Individuals,
banks, and all other corporations may have any amount of gold coined at the mint,
according to the types established in the preceding article. The mint shall fix the
rate for the exchange of foreign gold coins, upon authorization from the Government.
Art. 4. The English gold coins denominated sovereigns and half-sovereigns of the
fineness of 0.916§ and the respective weights of 7.98805 and 3.99402 grammes, shall
continue to have lawful currency throughout the territory of the Republic with the
respective values of 4.5 and 2.25 6cus.
Separate paragraph. — These coins will be allowed the tolerance indicated in article
2 for the national coins.
Art. 5. The 6cu will be divided into 100 equal parts called centavos; each centavo
will thus correspond to ten reis of the present system.
Art. 6. There shall be coined and issued silver coins with lawful values of 1 6cu,
50, 20, and 10 centavos, of which the value in reis, the diameter, fineness, weight, and
tolerance are given in the following table:
SILVER.
Denomination.
Value in
reis.
Diameter.
Fineness.
Weight.
Tolerance
allowed for
wear below
that of
manufac¬
ture.
Lawful.
Tolerance.
Lawful.
| Tolerance.
1 6cu .
50 centavos .
20 centavos .
10 centavos .
Reis.
1,000
500
200
100
Milli¬
meters.
37
30
24
19
Thou¬
sandths.
900
835
835
835
Thou- *
sandths.
2
} 3
Grams.
25.0000
[ 12.5000
{ 5.0000
l 2.5000
Thou¬
sandths.
3
\ 5
)
7
Thou¬
sandths.
10
j. 50
These coins will have a grooved edge and will bear upon one face a composite or
symbolical figure with the inscription “Republican Portuguesa” and the date; and
upon the other face national 6$u and designation of their value.
Separate paragraph. — The models and engravings of the designs for these coins, for
which a competition will also be opened between national artists, must be different
from the models designed for the gold coins.
OPERATIONS OF THE ‘MINT SERVICE.
167
Art. 7. The coinage and issue of the silver coins, exclusively reserved bv the
State, must not exceed the amounts fixed in the following table: J
Denomination.
Pieces.
Amounts.
5,000.000
50, 000, 000
15,000,000
20,000,000
EQU8.
5,000,000
25,000,000
3,000,000
2,000,000
50 centavos .
20 centavos .
10 centavos .
Total .
90,000,000
35, 000,000
Art. 8. No person shall be obliged to receive in all payments, of whatever character
and amount, more than 10 6<;us in silver coins.
Art. 9. There shall be coined and issued pieces of bronze nickel with the lawful
values of 4, 2, 1, and \ centavos, of which the value in reis, the diameter, fineness,
weight, and tolerance are given in the following table:
BRONZE-NICKEL.
Denomination.
Value
in reis.
Diameter.
Fineness.
Weight.
Lawful.
Tolerance.
Lawful.
Tolerance.
4 centavos .
Reis.
40
20
10
5
Millimeters.
23
21
19
17
Thou¬
sandths.
[Bronze 750,
jnickel 250.
Thou¬
sandths.
} 10 1
Grams.
( 5.000
I 4,000
1 3,000
[ 2,000
Thou¬
sandths.
“
2 centavos .
1 centavo.. .
£ centavo .
These coins will not be grooved; they will bear upon one face a composite or sym¬
bolical figure with the inscription “ Republiea Portugueza ” and the date; and upon
the other face the designation of their value suitably ornamented.
The first three millions of each kind of coins will have a different ornamentation
from the others and the date of October 5, 1910, in commemoration of the proclamation
of the Republic. . , ,. . .„ , , ,
Separate paragraph— A. competition between national artists will also be opened
for the models and engravings for the designs of these coins. , . .
Art 10. The coinage and issue of the bronze-nickel coins are exclusively reserved
* * _ i , 1 _ ' i £ 1 tkn fnll nrt to h n ‘
Denomination.
Pieces.
Amounts.
•
25,000,000
Ecus.
1,000,000
2 centavos .
100,000,000
50,000,000
2, 000, 000
500,000
OCA AAA
$ centavo .
50, 000, 000
250,000
225,000,000
3,750,000
Art. 11. No one will be obliged to receive hi ~
character, more than 1 ntiaauthorized to retire from circulation the present gold,
Art. 12 The Government mauthonzec^to ^ ^ exchanged ^ coire-
SsSrt S/Wm, following the equivalante menttoned m nmole*
The - a
the Peninsular Wars and the Ma q < article 6. are excepted from the provision
according to the equivalants indicated m ,
of the preceding article. j t be effected within a period of
Art. 13. The coinace to which artie r ^ ^ ^ pubUcation of tins law upon
srcondS/r; aysssSwir *• thore,or 'o,h wluch 11,6
mint is provided.
1G8
REPORT OF THE DIRECTOR OF THE MINT.
Separate paragraph. The Government will open the necessary credits to the ac¬
count ot the profits from this coinage for the execution of this article.
Art. 14. The Government is authorized to acquire, by public contract, the silver
copper, and nickel necessary for the coinage to which the preceding article refers’
and to sell at public auction the metals existing iD the mint and those resulting from
tne retirement ot the present coins, which will not be necessary for the above-men¬
tioned coinage.
Art. 15. 1 he Government will publish the necessary instructions for the full execu¬
tion ot this law and will designate in a suitable time the economical vear in which
system 1C accoun^a®^^y commence to be held according to the new monetary
Art. 16. All contrary legislation is repealed.
Consequently, we have constituted all the authorities, to which the knowledge and
execution of this decree pertains, with lawful power to comply with and make com¬
pliance with and protect it in all its tenor.
The minister of finances shall have it printed, published, and circulated.
Given in the Palace of the Government of the Republic, May 27, 1911.
Joaquim-Theophilo Braga.
Antonio-Jos£ De Almeida.
Bernardino Machado.
Josfi Relvas.
Antonio-Xavier Correia Barreto.
Amaro De Azevedo Gomes.
Manuel De Brito Camacho.
(From Report to the Minister of Finances by the Administration of Coins and Med-
ciiSj j. ans, mi.j
PORTUGUESE INDIA.
Decree op December 31, 1902.
[From Report to the Minister of Finances by tho Administration of Coins and Medals, Paris, 1911.]
Authorizing the coinage of silver rupees for Portuguese India.
Article 1. 1 lie Government is authorized to make coinatre bv successive issues nf
$T6 rlTa arms w^pllnawreath of oak and laurel leaves, with the inscription
above India Portuguesa, and below, “Uma rupiah’ **
n iff ^am ' TT|h° ^.‘pecs Will be of the type established in 1880, with the
fineness of 0. 910$, and the diameter of 30 millimeters and will weitrh 11 66 crams
with the tolerance of 5/1000 in weight and 2/1000 in fineness. g g ’
Art. 3. 1 he quota of bronze coins, of which the issue was authorized bv the decree
of June 28, 1 J02, is carried to 40 centos of reis (40,000 000 reis)
Art. 4 The net profits of these operations shall be carried to the account of the
Sta e of India, especially and particularly designed for the (.mstruct^
foVl° European troops and to the urgent repairing of the historic monuments of Goa
Art. 5. All legislation contrary to this decree is repealed.
ROUMANIA.
1 and 2 (a). The Roumanian Government pots its nn\r*a • i
4,(5!'6fo,V10,CMd u! None.065 lei’ eXecute<1 half iu Bril^ls and SlfTlIamburg.
7. Stock of coin in circulation in the country on December 31, 19H:
Lei.
725,800
Gold coin .
Silver coin _
Total.
. 10, |
. 65,260,065
lei.
. 75,985, SG5
There are akro in circulation: Nickel coins, 10,500,000 lei, and Wae coins. 905,000
OPERATIONS OF THE MINT SERVICE. 169
® ',1^1? /x0'7?rnmcnt' r.K.’t allowed to emit bank notes; only the National Bank
? oJi^a{^T- 0f 'ank ,nVteH emitted hy the National Bank during the year
1.1 Was, .,82,.//), KKi lei, covered by a reserve of gold of 158,337,810.18 lei
12 (a). Imports and exports of gold during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin:
Austria .
Lei .
1,873,393.33
8, 260. 00
Lei.
984,309.48
172,384. 15
14,563.40
2, 187.00
2, 124,099.70
642.00
Bulgaria .
England .
France .
418, 000. 00
8,340, 128.00
Germany . . .
Italy . .
Holland . .
600.00
Russia . .
104,443.97
16, 180.00
137,171.00
Seryia .
19,010.00
653, 701.00
Turkey .
Total .
11,224,652.33
3,56G, 040.70
The Bank Nationalc do Ron mania bought in 1911, 33,700,000 lei of gold imported by rail.
12 (b). Imports and exports of silver during the calendar year 1911:
Classification.
Imports.
Exports.
Lei.
244,975.00
Lei.
20, 8G3. 90
RUSSIA.
1. Gold and silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
Gold (new coinage):
Rubles.
50,011
100,011
Rubles.
150,022
1,000, 105
Silver (new coinage):
1 ruble .
50 copecks .
20 copecks . .
15 copecks . . . . .
10 copecks . - . . .
5 . .
200,011
800,011
7, 100,011
0,313,3*4
19,180,011
2,700,011
.
36,293, 399
6,020,022
Gold coin and bullion .
811 ver coin .
tf liver bullion -
Total .
Character.
In public treas¬
uries.
In circulation.
. .
Rubles.
1,840, 700,000
85,008,000
RubUt.
040,700,000
1 17,800,000
. * . .
1,881,703,000
767,600,000
1 < 0 REPORT OF THE DIRECTOR OF THE MINT.
8. Government notes, outstanding at the end of the year 1911:
Items.
Notes out¬
standing.
Gold holdings.
Legal-tender
silver holdings.
Of Government issue .
Rubles.
1 32 ft 514 450
Rubles.
1 iQ/; iki qtt
RvXlet.
35,373,000
A J
I, «W 1
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Country of origin and
destination.
Gold.
Silver.
Imports.
Exports.
Imports. Exports.
Coin. Bullion.
Coin.
Bullion.
Coin. Bullion.
Coin. Bullion.
Germany .
Rubles.
25,000
25,000
11,000
Rubles.
1,105,000
Rubles.
Rubles.
18,809,000
7,000
6,971,000
Rubles. Rubles.
. 3.962 000
Rubles.
Rubles.
Austria-Hungary .
8,000
France . . .
32,000
20 000
Turkev .
403,000
53,000
22,000
47.000
i,nnn
3,000
Roumania .
Persia .
4. 000 _
3.359 000
235,000
195,000
China .
780. non
20,000 116,000
995,000
194,000
Japan .
9 - i ’ WWF ~
Great Britain .
Afghanistan .
83 000
Spain .
Total .
646,000 1,934,000
4,000
25,847,000
3,463,000 17,202,000
433, 000,
1, 189,000
SERVIA.
1, 2, 4, 5, and 11. No coinage; no mint.
7. Metallic stock: _Can not De. ascertained. The banks can give no figures, as
French, gold, the unit of value, is continually withdrawn and continually brought
into the country, no law regulating its importation or exportation
8. Stock of notes, December 31, 1911:
Item.
Notes
outstanding.
Gold holdings.
Banks of issue:
Gold .
♦9 AQQ QQO
16,497,241.23 .
Silver .
10,005,471.65
Total .
6,497,241.23 1,258,722.76
004. ul
9. Premium on gold during 1911:
Highest .
Lowest .
Average .
12 (a). Imports of gold during 1911*
Per cent.
55
_ Par.
25
Classification.
Country.
j Imports.
Gold coin .
A ustria- H ungary
No statistics can be obtained for the last three months of 1911
There are no statistics for the imports and exports of silver during 1911.
OPERATIONS OF THE
MINT SERVICE.
171
SPAIN.
1. Amount of silver coined during the calendar
year 1911:
Coinage.
Pieces.
Value.
Recoinage (domestic): 50 centomos
573,843
Pesetas A
2 286, 843
2 silver pesetas worth $1,788 each
that of the coins melted. r 6 n0 CC that t le recomago value was 31, !
7. Monetary stock:
ere melted t<
343 pesetas g
r> use in the
;reatcr than
Character.
In banks.
In circulation.
Gold coin. .
Silver coin . .
Total.
Pesetas.
2 418, 103,499. 10
(387, 836, 804. 75)
753,824,992.67
Pesetas.
>715,868, 125.25
(772,759, 442.20)
576,764,814.53
1,171,928,491.77 I 1,292,632,939.78
™ ““ v>1“ ““ «°M J**«” <■ «»<•'
8. Stock of bank notes, legal-tender silver holdings:
Banks of issue .
Pesetas.
1,762, 771,725
9. Premium on gold during 1911:
Highest .
Lowest .
Average .
Ter cent.
. . . . 9. 20
... 7.25
... 8.32
The actual currency is silver peseta, worth 0.926447 of the gold peseta or franc on
December 31, 1911.
10. No laws were passed.
12 (a). Imports of gold during the calendar year 1910; statistics for 1911 not
available.
Classification and country.
Gold coin:
Argentina .
Philippine Islands.
Total .
Gold bullion, France
Imports.
Pesetas.
500,000
9,220
509,220
190,800
No exports appear in any of the Government reports.
N0TE —Advance customs statistics for 1911 give totals of importations as follows: Gold com, none;
gold builion, 282,600 gold pesetas.
172 REPORT OF THE DIRECTOR OF THE MINT.
12 (6). Imports of silver during 1910; statistics for 1911 are not available.
Classification and country.
Imports.
Silver coin:
Brazil..
France.
Great Britain.
Holland.
Morocco .
Philippine Islands.
Peseta*.
6,150
3,195
6, 100
16,000
545,000
2,595
Total.
Silver bullion:
Belgium .
France .
Great Britain. .
Total.
579, (MO
3, 120
,253,850
910
1,237,880
No exports appear in any of the Government reports.
Note. — Advance customs statistics for 1911 give totals of importations as follows: Silver coin, 353,195;
silver bullion, 584,580 — value in gold pesetas.
The circulation of notes of the Bank of Spain on December 31, 1910, represented
1,715,000,000 pesetas; at the end of 1911 they amounted to 1,762,771,725 pesetas, as
follows: •
Denomination.
Value in
pesetas.
1,000 pesetas
500 pesetas..
250 pesetas..
125 pesetas. .
100 pesetas..
50 pesetas...
25 pesetas...
Total.
449,027,000
214.434,000
84,500
127.125
693,607,700
297,963,050
107,528,350
1,762,771,725
Pesetas.
Gold coin in Bank of Spain on Dec. 30, 1911 . 560 738 989. 70
Silver coin in Bank of Spain on Dec. 30, 1911 . . 753' §24* 992. 67
Situation of branches of the Bank of Spain on December 30, 1911:
Specie and unpaid drafts in bank coffers .
Banknotes . .
Pesetas.
467,138.703.11
301,538. 775.00
Amounts paid into the treasury in foreign coin from January 1 to December 31, 1911 :
[From “ Memorial” resdmtbe general assembly of the stockholders of the Bank of Spain, Mar. 5 and 10,
1912, Madrid, 1912.]
Places.
Foreign coins.
Berlin (Germany j . „
Island of Gibraltar . ' marks. .
Lisbon (Portugal) . . pounds sterling. .
London ( England J . \ . „reis- •
Paris (Francei. ...... . pounds sterling..
. pesetas..
T otal equivalence in pesetas
494.494.73 608,2».4S
2,530-17-3 63.777.65
74.012,055 415.471.51
216.828- 2-11.94 5.464.070.01
8.092.081.29 $.092.06129
OPERATIONS OF THE MINT SERVICE,
173
SWEDEN.
1. Amount of gold and eilver coined during the calendar year 1911:
Coinage.
Pieces.
Value.
New coinage:
Silver, 50 ore .
118,138
31,806
Domestic recoinage: .
Gold .
$148,616
139
45,997
2 (a and b). No reply.
4 and 5. No reply.
7. Stock of gold and silver on December 31, 1911 r1
Character.
In public
treasuries.
In banks.
Gold coin .
*11,989,634
10,776,848
1,306,322
451
Gold bullion .
S19,42i
95,576
91,958
Silver coin .
Silver bullion .
Total .
206,955
24,073,255
8. Stock of notes, December 31, 1911:
Item.
.
Notes out¬
standing.
Gold hold¬
ings.
Legal-tender
silver hold¬
ings.
Government and banks of issue .
$58, 472.226
$22,498,385
*1,306,322
9 and 11. No reply.
10. None.
12 (a and b). Imports and exports of gold and silver, 1911.
Classification.
Imports.
Exports.
Gold bullion .
$224,583
196,872
*665
10,269
Silver bullion .
SWITZERLAND.
1. Amount of gold and silver coined during 1911:
Denominations.
Pieces.
Value.
Gold (new coinage):
o/i ( i>.r t K fon lAflorfit inn 1 . . .
100,000
250,000
100.000
Francs.
2,000.000
5,000,000
1,000,000
/y irancs i ior mu vuui^ici anu** /- .
JO irancs ( ior me . . . ' *
iU irancs ^ior me Lumt-uciouuii/. .
450,000
8.000,000
Silver (new coinage):
400,000
1.200,000
800,000
1,200,000
1,600,000
2,000,000
70347° — 1
■12
i circulation unknown.
174
REPORT OF THE DIRECTOR OF THE MINT.
2 (a and b). No coinage was executed for other Governments, or by other Govern¬
ments for Switzerland, during 1911.
4. No gold or silver in the form of old plate, jewelry, and other old material was
returned from use in the industrial arts to monetary use by being deposited at the mint
for coinage during 1911.
5. No United States gold coin imported during 1911.
7. Stock of gold and silver (in national banks) on December 31, 1911:
Frames.
Gold coin (Swiss and foreign) . 123,488,000
Gold bullion . 37, 177, 968
Silver coin . 9, 188, 380
Silver bullion .
Total . . . 169,854, 34S
Total circulation unknown (Latin Union).
8. Amount of bank notes outstanding at the end of the year 1911:
Item.
Notes
outstanding.
Gold
holdings.
Legal-tender
silver
holdings.
National bank .
Frans s.
314, / oo, 900
Francs.
100,666,437
Francs.
9,188,380
10. Copy of amendment to Swiss national-bank law, dated June 24, 1911, forwarded
herewith.
12 (a and 6). Imports and exports of gold and silver during 1911 :
Classification and country.
Imports.
Exports.
Gold com:
Oprmanv _ . . . . . . .
Francs.
1,242,910
218,735
15,069,119
1,716,500
Francs.
4,676,170
707,752
14,786,189
1,062,648
13,154
2,548,791
\ nutria- Hungary . . . . . . .
Fnvnrp . . .
Grpof Britain . . . . . . .
830
26,377
697,893
14,583
. . . . .
Miscellaneous .
3,700
Total .
18,278,171
24,507,180
Gold bullion .
150,813,440
J 3,215,135
Silver coin:
ftprmanv .
1,211,736
893,622
9,695,818
11,202,967
201,712
242
1,168,481
40.350
4,382,745
1,215,962
201,699
12,396
\ nstria-H unearv . - .
France . . .
Italy . . . . .
Rpleium . . . . . . . . .....
Miscellaneous .
Total .
23,206,097
7,021,633
Silver bullion:
(iprmanv .
37,904,533
570,745
427,663
300
France . . . . .
Miscellaneous .
Total .
7,904,533
998,708
i Figures of separate countries not obtainable before August, 1912. but largely from France (8.274 kilo¬
grams), Great Britain (3,310 kilograms), and Colombia (2,132 kilograms).
* To Germany, France; separate values not yet published.
* Figures for separate countries not yet available, but quant ity was, France, 41,904 kilograms; German' •
32,731 Kilograms; Austria, 7,735 kilograms; Great Britain, 4,165 kilograms.
OPERATIONS OF THE MINT SERVICE.
175
13. Switzerland is a part of the Latin Union. The legal monetary unit is as in
France, the silver franc of 100 centimes. The gold pieces fnd the K 5-fmnc nieces
a?d LlmahuSedW£Ul CUrrency’ The comage of gold alone is free and the gold stand -
TURKEY.
1. Coinage executed during the calendar year 1911:
GOLD.
Denomination.
Pieces.
Value.
New coinage:
5 liras ($22) .
53,900
9,990
4,627,115
75,441
249,418
$1,185,800
109,890
20,359,306
165,970
274,360
24 liras ($11) .
1 lira ($4.40) .
$ lira (82.20) .
I lira ($1.10) .
Total .
5,015,864
‘22,095,326
Recoinage:
Pounds sterling .
3,031,395
99,297
60,550
49,444
39
8,365
290
14,752,284
472,654
233,723
217,554
89
4,308
290
20-mark pieces .
20-franc pieces .
Turkish liras ( worn ) . .
Austrian ducats .
Rubles .
TTnilnd Rfatps Hollars .
Total value .
3, 249,380
15,680,902
Ornamental coins:
C liras {$2*2) .
4,631
12,084
53,738
23,971
70,775
50,368
101,882
132,924
236,447
52,736
77,852
27,702
1 lira (9f> 201 .
J lira . .
Tntfll ' .
215,567
629,543
SILVER.
Jmediidie ($0.418) -
Jmedjidie ($0,209)....
2 piasters ($0,088 gold).
1 piaster ($0,044 gold) . .
Total.
1 piaster ($0,044).
20 paras ($0,022)..
10 paras ($0,011)..
5 paras ($0.0055).
7,001
1,273,073
6,109,591
936,593
8,326,858
1,992,000
11,408,000
18,992,000
21,760,000
54, 152,000
$3,345
280,076
537,644
41,210
862,275
87,648
250,976
208,912
120
547,656
Total . . .
5.021,665 Turkish pounds (face value) ($22,095,326) comes from recoinage of 10,616 kilos
23,355 pounds) of ingot of fine gold.
2 (a and b), 4, and 10. I
5. United States gold cc
8. Bank notes outstandi
None. .
coin melted at mint: $290.
Items.
Notes out¬
standing.
Gold holdings.
Legal- tender
silver holdings.
Imperial Ottoman Bank .
Turkish pounds,
i 1,124,035
\ ($4,945,754)
Turkish pounds.
3,400,000
($14,960,000)
Piasters.
14,755,000
($649,220)
176
REPORT OF THE DIRECTOR OF THE MINT.
No Government notes; the Imperial Ottoman Bank is the only bank of issue in
Turkey (covered by gold for full value).
9. Premium on gold during 1911:
Per cent.
Highest . . 108
Lowest . . . 107.2
Bimetallic silver is the currency in the shops and small trade, while gold is the
currency in the banks.
12 (a). Imports and exports of gold during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin:
England .
$22,675,114
677,718
1 23,352,832
1 5, 229,413
$5, 794,1 to
Germany .
Total .
Gold bullion, England .
1 5,794, 140
i These figures represent the amounts imported and exported by the various banks.
12 (6). Imports and exports of silver during the calendar years 1909 and 1911:
Classification and country.
Imports
(1911).
Exports
(1909).
Silver bullion:
Belgium (pure, from lead ore) .
$902, 173
England .
$2,640,000
440,000
Germany .
Total .
3,080,000
902,173
Silver:
Belgium (from lead ore) .
3,194
11,798
6,749
Greece (from lead ore) .
Greece (from zinc ore) .
Total .
21,741
ASIA.
ARABIA.
Aden.
7. Stock of gold and silver in banks on December 31, 1911: 1
Gold coin ..................................... non
Gold bullion . .
Total . ~mooo
Silver coin . ~ 486 600
Silver bullion (Maria-Theresa dollars) . * ’ * J * .* * ’ ’ . 97’ 320
Total . 5S3, 920
mind Govemmenl; treasuries with respect to Aden are located at Bombay:
of trade6 n° statlstlcs here excePt ^ose of the trade of the port, no mints, statistical bureaus, nor boards
OPERATIONS OF THE MINT SERVICE
177
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin:
TJndpidah .
$913,609
3,091
210,140
170
127
622
214
9,342
19,629
408
$24,239
.
0,318
1,264,124
17,517
901
3,114
10,7.59
2,430
13,605
1,157,352
1,343,067
Gold bullion:
Djibouti .
Silver coin:
Hodeidali .
Bombay .
Berbera .
Loheia .
Austria .
Djibouti .
Jeddah .
Mocha .
British East Africa
Assab .
Khokha .
Medi .
United Kingdom..
Perim . - .
Turkey in Asia. . . .
Maskat .
Zanzibar .
Mucalla. . .
Camaran .
Bulhar .
Zaila .
Salifl .
Massowah .
Total .
649
8,571
948,480
102,182
94,409
8, 758
9,732
101
39,234
1,419,295
161
453,741
112,361
19
24,164
2,040
33,367
9,645
113,540
2,503
60,853
65,172
.
7,039
1,803
622
.
.
32
45, 257
.
263
1,562
1,195
33,427
1,578
32,440
6,379
.
650
239,346
.
18,127
2,497
.
5,008
19,950
.
. 49,783’
26, 446
239,346
.
2, 162,703
2,078,375
Oman (Maskat).
178
REPORT OF THE DIRECTOR OF THE MINT.
CHINA.
Hongkong.
2 (6). Refer to consul's Bombay report for total British dollars coined.
7. Stock of gold and silver coin and bullion (Hongkong currency), December 31,
Gold coin (in banks).
Silver coin (in banks)
Silver bullion .
Yen.
1,755,706
21,881,824
102,000
8. The notes (Government) outstanding amounted to 27,732,229 yen (Hongkong
currency), against which there was a special silver reserve of 16,500,000 yen (Hong¬
kong currency).
9. The actual currency is silver.
12 (6). Refer to Shanghai for total of silver imported from America, i. e., 7,630,000
Haikwan taels, and refer to San Francisco for total silver exported to China. The
difference between these two amounts is chiefly accountable for imports of American
silver into Hongkong, although a small percentage has been continued to India.
Chungking Province.
1 to 8 (inclusive). There are both ordinary and extraordinary reasons why informa¬
tion of value in this connection is not obtainable now. The extraordinary reasons
have mostly to do with the revolution which has caused great confusion and disorder
in all departments of Chinese life. Deposits of gold and silver have been looted and
large quantities of Government and bank notes have been burned and books of record
have been destroyed. It is altogether impossible, therefore, to give even approxi¬
mate answers to questions numbered 7 and 8. Even under normal conditions
these statistics can not be given with any accuracy. At no time can the amount
of gold and silver mined here be ascertained. No records whatever are kept and as
the mines are widely scattered and operated by small owners there is no way of esti¬
mating their output. This is especially true just now as communications throughout
this district are broken. The same applies to metals used in the industrial arts or
taken from such use. No United States gold coin was imported here in 1911 and
no coinage was executed at foreign mints for this district.
As simple negative or affirmative replies could not have been adequately used on
the circular hereto attached I have been obliged to answer questions 1 to 8 by
submitting the foregoing explanation. In response to question 9 I would state that
no premium can be said to exist here with reference to the local currency for there is
no standard or par value upon which to base a calculation. Local currency, which
is the Ssuchuan dollar, and gold are simply treated as ordinary commodities and their
prices fluctuate accordingly. There is no standard rate of exchange between the
two— hence no “premium”; it is simply a case of supply and demand.
Questions numbered 10 and 11 as applied to this particular district, must be an¬
swered in the negative. No gold or silver was shipped in 1911 from this district to
other countries or vice versa.
E. Carleton Baker, Consul.
Mukden.
1. Amount of silver coined during the calendar year 1911:
Denomination.
Old currency: 20-cent pieces .
New currency:
SI pieces .
20-cent pieces .
10-cent pieces . .*
Total .
Pieces.
Value.
63,687,300
i$12, 737,460
60,200
60,200
765,750
886,150 2
148,815
1 Small coin dollar, about 40 cents gold,
2 New currency coins; same value as Mexican.
OPERATIONS OF THE MINT SERVICE.
179
2 ( a and b), 4, 5, 9, 10, and 11. None.
7. Stock of gold and silver in circulation on December 31, 1911:
Gold coin .
Gold bullion .
Silver coin .
Silver bullion .
Note.— Unable to obtain amount In public treasuries or in banks.
■ $12,886,275
5 98,725
8. Government notes outstanding at the end of the year 1911:
Item.
Notes
outstanding.
Gold
holdings.
Legal-tender
silver
holdings.
| 3$7,451,266
1 4 2,753
4 89,399
(s)
1 None.
(5)
4 4,342,088
(6)
X.)cU-LlvO V/* LX3 viv v>*' / • • •
7,543,418
4,342,088
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
♦ Classification and country.
Imports.
Exports.
Gold bullion: .
Customs
taels.
Customs
taels.
640
12,000
China . . .
. .
12,640
Total .
Silver coin: .
China . * * * " .
Japan . . . .
Chosen (Korea) . .
Russia (Siberia) .
1,889,245
142,857
2,242
1,250,417
10,800
16,273
3,846
2,034,344
1,281,336
Total .
Silver bullion: .
8,550,081
8,640
64,354
Russia (Siberia) .
Total . A .
8,558,721
64,354
Memorandum Concerning the Nanking Mint.
* * *
J0hhaSedanal of study hi where he returned last
corned the new standard dollar (see reports dated J^^ndAu^U,
IQVH up to the time that the eit\ < Pi 1 offairs just previous to the attack on
Sn (fen Chang Bsnn assumed ^^.^1 coSfcnew Ta Ching dollar, and
co^ed^b^ut^.WKfKtmn^Hsudollars^aihr. aren^^rn^scd very
other places rn China^ ^ ^ ^ other mints cash since last
Nankmg, and cop . een steadily coming the republicans assumed
ss^sas ax sKfe tr fess ,k sk»3s
circuit _ — 4 Mukden taels.
;ssssMSsWA*»f*
3 small coin dollar.
4 Mukden taels. ,
o Impossible to obtain.
180
REPORT OF THE DIRECTOR OF THE MINT,
and is of the same standard (900 fine) as was the Ta Ching standard dollar. The mana¬
ger stated that they were preparing a new design for the commemoration dollar, altering
somewhat the impression of Dr. Sun Yat Sen, which is not satisfactory on the present
coin. They expect to begin coining the subsidiary coins thiq month.
Nanking, China, July 9, 1912.
Amoy Customs District.
7. Stock of silver on December 31. 1911:
Items.
In banks.
In circu¬
lation.
Silver coin:
Taiwan Bank .
$163,000
84,000
168,000
2,250,000
Hongkong Bank .
Chopped dollars .
Subsidiary coins in district .
$2,250,666
Total. .
2,670.000
2,250,000
8. Stock of bank notes outstanding on December 31, 1911:
Ta Ching Bank .
Hongkong Bank . _
Taiwan Bank .
Total .
$4,500
4,500
10*. 000
117,000
9. Premium on gold during 1911:
Highest .
Lowest . .
Average .
The actual currency of the country is silver.
10 and 11. None.
12. Imports and exports of gold during the calendar year 1911:
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
Hongkong .
Japan (including Formosa) .
*2,579
>*16,358
$10,574
1 $2,533
1 1A"’
Total .
2,579
16,353
10,574
2,750
1 In bars, dust, etc.
Per cent.
0. 45$
12 (6) Imports and exports of silver during the calendar year 1911:
Country.
Hongkong .
Japan (including Formosa)...
Total foreign countries.
Shanghai .
ogh
Wenchow
Foochow,
Swatow.
Total China.
Grand total.
Imports.
Note. Amounts given are in United States currency."
Coin.
Bullion.
Coin.
Bullion.
$1,412,683
4.504
*447,354
>*3,666
1.417,187
447,354
3.000
2S3.763
9.551
2.S75
296,814
48,000
2S6.375
1.004,784
357.240
2,421,971
801,594
3.000
Export*.
operations of the mint service.
181
Foochow Customs District.
1, 2, 4, 5, 6, and 10. None.
7. Stock of gold and silver on December 31, 1911:
• Character.
In banks.
In circu¬
lation.
Gold coin .
3 *880,000
> 185,000
p)
(2>
3*220,000
Gold bullion .
Silver coin .
Silver bullion .
Total .
1,005,000
220,000
K. Notes outstanding on December 31, 1011 :
Government . 3 $1,500
Banks of issue . .! . 3 900,000
Government . 3 $1,500
Banks of issue . .! . 3 900,000
Total . 901,500
9. There is a premium on gold. The actual currency of the country is “Chop”
Mexican dollar.
11. There is 110 published report. The mint has been in operation since the begin¬
ning of this year, but I am told that owing to financial straits it will be closed again
as soon as the subsidiary silver and copper which the local Government has on hand
are coined.
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
(inld coin, lionukomr .
$366
( Jnld hull Inn SliiiliLdmi .
$52, 798
Silver eoin:
Amoy . . . . . . .
290,888
266, 495
6,009
355, 835
155, 960
3,270
439, 181
216,304
125,117
4,538
3,817
Hnnpkntu? . . . . . . . . .
Knn ti mo . . . . . . . . .
Shanghai . . . . . . . . .
S wntow . . . . . . . .
1,078, 457
788,957
Silver bullion:
16, 718
1,370
18,088
Nkwciiwano Customs District.
5 United States gold coin imported, $520 (carried).
7 Stock of silver coin and bullion in banks on December 31, 1911: $300,000.
Statistics unavailable regarding amount in circulation, owing to erratic movement
of moneys from and to the port and the heavy minting of subsidiary corns in Mukden.
S. Notes outstanding, December 31, 1911:
(Jovcmmont. .
Banks of issue
Total...
Items.
Notes out¬
standing.
Legal-ten¬
der silver
holdings.
$27,000
64,000
*240,000
(*)
91,000
240, 000
• Very little.
» If any, unknown.
* Mexican.
« Reserves held at homo
offices of Yokohama Specie Honk auJ Uusso-Asiatlo Bank.
%
182
REPORT OF THE DIRECTOR OF THE MINT
9. Premium on gold during 1911:
Mexican dollars: Per cent.
Highest . . . 49.0
lowest . 43.4
Average . : . !” 46! 0
Newchwang taels:
Highest . . 63.0
Lowest . 61.0
Average . 61.72
12 (a). Exports of gold during 1911 :
Gold bullion, Shanghai . $7,500
12 (f>). Imports and exports of silver during 1911:
Classification and country.
Imports.
Exports.
Silver coin Chinese norts . .. .
$137,339
771,217
$665, 716
Silver bullion Chinese ports .
3,125
Peking.
1. Amount of silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
Dollars .
13. 720. 742
100, 000
13.820.742
OfLoprit -niftPAS .
Total .
i $6,595,556. 16
i Partial report. ($1 Chinese = $0.48 United States currency.)
2 ( a and b). None.
3, 4, 5, 6, 7, and 10. Unknown. No statistics available.
8. Government and bank notes outstanding at the end of the year 1911:
Items.
Notes out¬
standing.
Gold
holdings.
Legal
tender
silver
holdings
r.nvpmmpnf 1 . . . . . .
$19,000,000
16,911,847
None.
None.
Unknown.
Unknown.
Ranks of issue 2 .
Total .
835,911,847
_
i Estimated. * Partial report. » United States value at $0,416.
9. There is no premium on gold. The actual currency of the country is copper,
silver bullion, silver coins, and paper notes.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Gold coin:
Japan . . . .
Haikwan taels.
6,300,000
* ($4,095,000)
2, 106,000
1 ($1,36S,900)
Australia .
Europe .
San Francisco .
4 Straits Settlements .
Exports.
Haikwan taels-
1,975,000
1,283,750)
515,000
($334,750)
6,256,000
14,066,400)
1 Haikwan tael at $0.65.
OPERATIONS OF THE MINT SERVICE.
183
Classification and country.
Gold coin— Continued.
India .
Siam .
Other countries.
Total.
Silver coin:
Europe.
San Francisco.
Japan .
Indo-China.
Siam .
India .
Other sources .
All countries.
Total.
Imports.
Exports.
Haikwan tads.
Haikwan taels.
903,000
i ($586,950)
284,000
i ($184,600)
2,015, 788
i ($1,310,262)
2,224,520
i $1,445,938
10,630,520
i ($6,909,838)
11,948,788
i ($7,766,712)
17,700,000
' ($11,505,000)
7,630,000
• ($4,959,500)
1,606,000
i ($1,043,900)
16,296,000
fi ($10,592,400)
9,010,489
> ($5,856,818)
6,611,877
i ($4,297,720)
52,242,489
» ($33,957,618)
6,611,877
i ($4,297,720)
Note — Imports and exports to and from Hongkong are included in this statement, since Hongkong,
while not a part of China, geographically or politically, is so commercially.
Shanghai Customs District.
1,
7.
2 (a and 6), 4 and 5. None.
Stock of silver on December 31, 1911:
Character.
In banks.
In circula¬
tion.
Silver coin .
Silver bullion . * .
$2, 792, 100
14,644,980
*$2,000,000
17,437,080
2,000,000
8. Notes outstanding on December 31, 1911:
Government (supported banks) .
Banks of issue:
Chinese .
Foreign .
Total .
... $369,410
...a 1,000,000
... 2,650,080
4,019,490
9- pssx
A^eSePpS“” Aid = 1 .70 Shanghai tael.
Exchange rates employed :
1 Haikwan tael = $0.65 gold.
1 Shanghai tael = $£.59 gold .
1 Mexican dollar — $0.41 gol . define.”
ThSe'ATfjSS’te Satoma purposes, butisnot coined; merely arfandard
weight of silver.
i Haikwan taels at $0.65.
* Estimated.
184
REPORT OF THE DIRECTOR OF THE MINT.
There is the Kuping tael for Government transactions, other than custom* not
corned; merely a standard weight of silver. ’ 1
There is the Shanghai tael, not. coined ; merely a standard weight of silver
There is the Mexican dollar.
There are the various provincial dollars.
There are the subsidiary silver coins — 10 and 20 cent pieces.
There is the copper 10-cash piece.
There is the brass 1-cash piece.
There are the Chinese bank notes.
There are the foreign bank notes.
The Shanghai tael is 1$ ounces of silver, and its value depends upon the value of
the metal.
The Kuping tael is worth 10 per cent more than the Shanghai tael; the Haikwan
tael is worth 11.4 per cent more than the Shanghai tael.
The parity between the tael and Mexican dollar varies, but the dollar is worth
about 73 per cent of a tael.
The provincial dollars are all at a discount outside of their own locality.
The subsidiary silver coins are at a discount, $1.10 being given by exchange shops
for 1 Mexican dollar.
Business is done principally on tael quotation, but the Mexican dollar is the coin
that circulates most freely. The currency that affects the masses most closely is the
subsidiary silver, copper, and brass coins. The people’s needs being small and all
their daily wants satisfied by “cash ’ standard, the value of the small coins interests
them as much as the value of the tael does the merchant.
Bank notes, both foreign and Chinese, pass at face value at the point of issue, but
are discounted from 2 per cent to 5 per cent in other localities.
10. No laws passed locally.
11. None.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Gold coin:
British America .
Africa .
Asia—
Straits Settlements. . .
Hongkong and Macao
Japan and Formosa . .
Total .
Gold bullion:
Europe .
Africa .
Asia—
India .
Japan and Formosa . .
Total .
Silver coin:
Europe .
America .
Asia—
Saigon and Tonkin. . .
Hongkong and Macao
Chosen (Korea) .
Japan and Formosa . .
Total .
Silver bullion:
Europe .
America .
Africa . .
Asia —
India . .
Straits Settlements.. .
Saigon and Tonkin. . . .
Hongkong and Macao.
Japan and Formosa . . .
Vladivostok . .
Imports. Exports.
$23,897
4,816
48,230
125,346
2, 359, 716
2,562,005
422
780,000
1,410
2,751,666
2,617,335
9,062
15,347
6, 174, S20
11,001,442
1,807,572
293,915
2,029,589
740, 769
343,812
1,164,467
17,381,566
$239,404
239,404
1,304,031
25,584
16,749
422 1,346,364
1.896
67, 165
2,821,820
2,890,881
294,427
315,510
16,087
582,400
327,811
570,641
42,561
2,149,437
Total
185
OPERATIONS OF THE MINT SERVICE.
Swatow Customs District.
1, 2 (a and 6), 4, 5, 6, 10, and 11. None.
7. Stock of silver on December 31, 1911:
V
Character.
In banks.
In circula¬
tion.
Silver coin . 1.
1 «l 000 000
i 49nn non
•
vi ; uuu
A U, uuu
1 Mexican dollars.
8. Bank notes outstanding at tin end of the year 1911: Mexican dollars.
Banks of issue . 1,500,000
9. Premium on gold during 1911:
Per cent.
Highest . 2.24
Lowest . 2.17
Average . 2.215
Note. — Owing to heavy fluctuations in coast exchange, the local silver-gold exchange, which must be
done through Hongkong, does not always follow closely the exchange ruling at principal ports.
The actual currency is Mexican dollars.
12 (a). Imports of gold during the calendar year 1911:
Classification.
From whence im¬
ported.
Imports.
Hongkong .
$9,023
12 (6). Imports and exports of silver during the calendar year 1911:
Total .
Classification and country.
Imports.
Exports.
Silver coin:
Hongkong . .
$1,140,211
108
$1,080,225
i47,499
Siam . .
Dutch Indies .
.
3,213
1,140,319
1,230,937
Tientsin Customs District.
1. Amount silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
New coinage (domestic): .
9,720,742
100,000
$9,720,74 2
20.000
20 cents .
9.820.742
i 9,740,742
171 000 cold. No recoinage of any kind.
1 Mexican dollars at $0,459 equals $4,44,000 go.a.
1 A • i« at the head mint at Tientsin. Gold coins not
186
REPORT OF THE DIRECTOR OF THE MINT.
4. None. All silver presented at the mint for coinage was in the fori" of “ivcee”
or bullion.
5. No statistics. No United States gold coin melted at mint.
7. No statistics.
8. The Government notes in use are notes of the Ta Ch’ing Bank. Relating to the
above inquiry the manager of the local branch of the bank stated that “since the
disturbances of last year the notes of the local bank have been regularly recalled,
that at the end of last year there were left unrecalled more than $10,000 worth, which
were covered by the same amount of reserves for redemption.”
9. There is a premium on gold. The actual currency is the tael (uncoined; as the
unit.
CEYLON.
Colombo.
2 (b). Coinage executed at foreign mints (made by the Crown agents, London,
and received by us in 1911):
Silver:
50 cents
25 cents
10 cents
Rupees.
. 100.(0)
. 100.000
. 100,000
Total
mooo
7. Stock of gold and silver on December 31, 1911:
Character. In public
treasuries.
In circu¬
lation.
Gold coin:
In Colonial treasury (Colombo) .
/> £200.000- 00
\ 1 63- 00
31- 10
Rupte*.
In pav offices .
Total .
200,094- 10
Rvpett.
I> 8. 928. 207. 00
< >306,000.00
*631.15
121,335.00
70,039.00
Silver coin:
In Colonial treasurv (Colombo) .
| *4.794.911
In pav offices .
uj pay OIDC6S siD3U surer . .
TotaJ .
9.435,266.15
4.794 911
1 Currency reserve.
* Treasurer's balance.
* Small silver, exclusive of silver belonging to ‘‘Currency reserve” and in the pay offices.
No means available in this office for ascertaining amount in banks
8. Stock of notes on December 31, 1911:
Character.
Notes out¬
standing.
Gold holdings.
Legal-tender
silver hold¬
ings.
Government .
Ruptt*.
23.594. 720
£. *. d.
Rmpttt.
*5.740.464
1 35)2,472 11 9
1 Sterling investments.
* Investments in Indian Government paper.
Ixx*al banks do not issue notes.
9. There is no premium on gold,
rupee. (A sovereign is fixed at 15
The actual currency of the countrv is the Indian
tepees by a Government proclamation.)
OPERATIONS OF THE MINT SERVICE. 187
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Items.
Imports.
Exports.
Gold coin .
Rupee*.
1 3,874,378
Rupees.
1825,000
1677,000
Silver coin .
1 3,242,943
* According to customs monthly returns.
ORDER IN COUNCIL REGULATING THE CURRENCY OF CEYLON.
At the court at Osborne House, Isle of Wight, the 6th day of February, 1892.
Present, the Queen’s Most Excellent Majesty in Council.
Whereas Her Majesty the Queen has power to make laws for the peace, order, and
good government of Her Majesty’s colony of Ceylon;
And whereas by virtue of the order in council and proclamation rescinded by this
order certain silver rupees and other coins of silver and copper are legal tender in
Her Majesty’s said colony; . .......
And whereas it appears to Her Majesty, by the advice of her privy council, that it
is expedient to rescind the. said proclamation, and to make a law respecting the coins
which are to be the subject of contract, and to constitute legal tender in Her Majesty s
SaNow!°therefore, Her Majesty, by and with the advice of her privy council, and by
virtue of all powers vested in tier Majesty m that behalf, doth hereby ordain that the
law hereinafter mentioned shall take effect in Her Majesty s said colony:
And the lords commissioners of Her Majesty s treasury, and the Right Honourable
Lord Knutsford, one of Her Majesty’s principal secretaries of state, are to give the
requisite directions for causing proclamation of the said law to be made in Her -laj-
est> ^ ^ sil ver rupee of British India of the standard weight and millesimal
fineness specified in the first schedule to this order shall be the standard com of Her
Maiestv’s colony of Ceylon and its dependencies, in this order referred to as the colony.
12) Evctv contract, sale, payment, bill, note, instrument, and security for money,
and every^transaction, dealing, matter, and thing whatever relating to money or
d0<D3)' The 3S order shah to «re.«d a.
equal to the standard coin. . , • tn t;mP coined for the colony under the
schedule to this order obverse impression Her Majesty’s effigy with the
Sinhalese, and Tamil.. , , f the am0unt of its denomination.
(3) Each coin so corned shall be a I^ai wnaer^ior^ scheduie to this order
(4) Each of the subsidiary j ,lult behalf in that schedule mentioned,
shall be a legal t ender Jhe *mo mt i in U requests any new coins of
3. (1) If the governor of the colony irora i or mixed metal, to be coined,
less value than the rupee, whether of si Be ^PP ’ 8Uch request, those new
and the commissioners o He ^^^TSe lister of Her Majesty’s mint, or
at"fyHe5 MajeTy’s ’mints .in ® j^tSpression8 directed by this order for the
coins 8pecifie^Vin°the ^^r^^hedulep^n^Jhis^order^mfe^e^to^a^ex ^jajesty>8 mint
ofyr».o»un,ao„ . any existing coin, or '
SfiKTca-., ii of -hg.
existing coins.
188
REPORT OF THE DIRECTOR OF THE MINT.
4. In the making of any existing or new coin a “remedy ’ or variation from the
standard weight, and in the case of silver coins from the standard fineness, required
by this order shall be allowed for any existing coin of an amount not exceeding that
specified in the third schedule to this order, and for any new coin—
(a) As regards fineness (if the coin is of silver), of the amount specified m the
third schedule to this order; and
(b) As regards weight, of an amount bearing the same proportion.
(t) If of silver, to the weight of the twenty-five-cent piece mentioned in
the said schedule; and
(it) If of copper or mixed metal, to the weight of the five-cent piece men-
tioned in the said schedule, asjthe denomination of the new com
bears to those pieces, respectively. _ .
5. (1) A tender of payment ol money in the colony, if made in standard coins or
in any coins specified in the second, third, or fourth schedule to this order, shall,
provided that the coins have not been illegally deajt with and provided that m the
case of silver coins such coins have not become diminished in weight by wear oi
otherwise so as to be of less weight than the weight (if any) specified as the least cui-
rent weight in the schedules to this order, be a legal tender
(а) In the case of rupees, for the payment of any amount;
(б) In the case of other silver coins, for the payment of an amount not exceeding
five rupees, but for no greater amount;
(c) In the case of coins of copper or mixed metal, for the payment of an amount
not exceeding one-half of a rupee, but for no greater amount.
(2) If any new coins are coined, this article shall, after the date fixed by the gov¬
ernor in a proclamation made with the approval of the commissioners oi Her Majesty s
treasury and one of Her Majesty’s principal secretaries of state, and setting forth in
a schedule the same particulars with respect to each coin as are 6et forth in the third
schedule to this order, apply to the new coins as if the schedule to the proclamation
were added in that third schedule. . . x ,,, ,oolt
(; For the purpose of this order a coin shall be deemed to have been illegally dea
with where the coin has been impaired, diminished, or lightened otherwise than by
fair wear and tear, or has been defaced by having any name, word, device, or number
stamped thereon, whether the coin has or has not been thereby diminished or lightened.
7. On the commencement of this order the order in council and proclamation speci¬
fied in the fifth schedule to this order and all such colonial laws and all such procla¬
mations, whether issued by Her Majesty or by the governor, as regulate tenlteDjter
in the colony, other than the Ceylon paper-currency ordinance, 1884 (No. 62 of i»»4j,
shall cease to be in force. .
8. Nothing iD this order, nor any repeal of laws or rescinding of proclamations i>>
this order, shall affect any liability incurred, contract made, or other thing done
before the commencement of this order.
9. In this order — , . , ,
The expression “governor” means the governor of the colony' and includes me
officer for the time being administering the government of the colony.
Words in the singular include the plural and words in the plural include the
10. This order shall come into operation on the first day of July, 1892, or any earlier
day on which it is proclaimed in the colony by the governor, and that day is in this
order referred to as the commencement of the order.
11 This order may be cited as the Coinage (Ceylon) Order, 1892.
C. L. Feel.
BRITISH INDIA.
1. Amount of silver coined during 1911:
Recoinage (domestic):
Rupees .
Half rupees .
Quarter rupees .
Eighth rupees .
Total .
Pieces.
15, 266,335
3, 425. 338
5,973,234
10,847.704
35,513*611
Value, 19,828,775 rupees.
The face value of coins received into the mints for recoinage during the year 1911
was 20,154,619 rupees. The face value of coins actually melted during the year is
not available.
OPERATIONS OF THE MINT SERVICE.
189
2 (a). Silver coinage executed for other Governments during 1911:
Description.
Value.
British dollars for exchange banks .
Subsidiary coins for the Government of the Straits Settlements
10-ceht pieces .
5-cent pieces .
Total .
$31,440,858
29,110
597,426
32.073.400
2 ( b ). Gold sovereigns and half sovereigns are imported into this country in the
OT4 DQoTdC and silver returned from use in the industrial arts and deposited at the
mints for coinage. No gold coins are coined at the Indian mints. The Indian mints
do not receive old bullion from the public for coinage.
5 N il
7. Stock of gold and silver on December 31, 1911:
Location.
Gold coin.
Silver coin.
Silver bullion
(quantity in
tolas).
£220,901
8,381,992
Rupees.
49,053,000
219,574,150
29,014,532
2,294, 321
259,000
i, 100,666
Against note circulation .
In the gold standard reserve .
107, 156
il,405,3io
Bv presidency banks .
9,173,209
300,195,003
12,505,310
8. Government notes outstanding at the end of the year 1911:
Item.
Notes
outstanding.
Gold
holdings.
Legal-tender
silver hold¬
ings (coin
and bullion).
Government .
Rupees.
561,765,945
Rupee*.
201,404,879
Rupees.
220,361,120
The amount of Government^ ' f
only notes in circulation are the. of the
Gr¥Cghont die year ml gold ™ for -he purposes of foreign eachnnge at a
^The par is 16d.=l rupee= . -53344 |jmn s of . orI^gpon(iing to 1 rupce=10 |-’3I I-
Highest discount, grains of m f i^’ q 004 (corresponding to 1 rupee 1>. )•
Lowest discount, grains of A ^ i ^ 0 031 (corresponding to 1 rupee i6. •)• f
- -
The hundred-rupee note was aiso
an executive order.
76347°— 13 - 13
190
REPORT OF THE DIRECTOR OF THE MINT.
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
GOLD.
Countries of origin and destination.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
United Kingdom...
£1,653,915
22, 145
419,033
*55,’ 036'
7
174,655
79,940
18,013
’ i3, 666'
6,083,811
416,376
8,327
3,931
381,749
680
321
£7,804,743
£120
£2,229,999
Malta and Gozo .
Aden and dependencies. . . .
Bahrein Islands .
Ceylon . !”!!!!!!!”!!!!. .
Hyderabad Malay States..
Straits Sottlpmpntc
155
. i6, 260
’59,’ 570 ‘
69,291
. 96
Hongkong .
28,339
205, 382
854
782, 876*
2,560
395
4
1,980
505
Mauritius and dependencies. .
Zanzibar and Pemba _
Australia . .
France . .
1,235
.
Austria-Hungary
Turkey ( European ) .
Turkey (Asiatic) .
Arabia . .
P ersia*
57
2 y /60
63,178
11,590
22,372
9,000
Java . .
Siam . . .
China (exclusive of Hongkong and Macao i .
"mM
. 94
Japan .
Philippines. . . .
7
1,600
5,087,670
2,680
371
Portuguese East Africa . .
Italian East Africa .
79
Total .
14,423,267
8,943,546
239,515
2,232,674
SILVER.
United Kingdom...
£1,786
48
126
664
11,483
£7,452,816
£6,056
£3,254
Government . .
Aden and dependencies
Government .
333
1,333
312,805
100
215,713
48,008
2,789,347
1,567
Bahrein Islands. . .
Maldives . .
.
.
Straits Settlements....
4,562
4,557
33,112
22
79,033
3,662
651
94
. i
17
3,364
••• • •••••••••••«
Federated Malay States '
Mauritius and dependencies.
.
.
East African Protectorate ...
Australia . .
France . .
Austria-Hungary . . .
Turkey (European ) _
13,667
. 3i*
10
61,308
130,067
113,333
. i*
*553*373'
.
Turkey (Asiatic.... . .
Government . .
.
16,802
100
170,520
89,444
2,347
20,333
486
Persia . .
54, 243
26,822
6,906
50
1,304
507
Government . .
Siam . .
China (exclusive of liongkone) .
121
46,000
Egypt . .
Portuguese East Africa... .
527
. 3S
Total
.
26,333
Total (Government ) .
257,302
27,534
8, 190,689
3,895,056
3,830
12, 195
OPERATIONS OF THE MINT SERVICE. 191
Value of the immrts and exports of gold and silver coin and bullion registered in the
calendar year 1911, compared with the years 1909 and 1910.
[From “Accounts relating to the sea-borne trade and navigation of British India for the calendar year
1911, compared with the years 1909 and 19 10.”] >
IMPORTS (GOLD).
Countries from whence imported.
1909
1910
1
1911
United Kingdom .
£4,932.309
£10,356,598
10,000
985.083
66,485
343,809
176,263
£9,458, 658
22,145
418,936
8,327
381.805
419, 188
Malta and Gozo .
France .
35,674
16.082
336, 929
141,442
7,000
47, 132
144,065
574,248
1,901,925
Austria-Hungary .
Turkey (Asiatic) .
Aden and dependencies:
Private .
Government .
Ceylon .
47,000
33, 473
408,252
4,617,065
25,000
13,952
940, 770
4.258
65,296
202,994
393,564
5,087,670
Straits Settlements .
China .
Egypt .
Cape Colony . .
Natal .
43,235
1,882,570
12,861
2,000
18,867
6,866,687
22, 677
Australia (including New Zealand ) .
All other countries:
Private .
Government .
Total value:
Private .
10,068, 472
9.000
18,028,008
23,366,814
G overnment .
Weight in ounces:
Private . . . .
2,443,833
2,319
4.389,653
5,772,398
EXPORTS (GOLD).
Countries to which exported.
1909
1910
1911
United Kingdom, private .
Turkey (Asiatic) .
£2, 176,904
10,173
11,287
133
£2, 212, 125
7,620
14,605
142
£2, 230,119
63,178
59,570
69,387
Straits Settlements .
China. .
669
2,040
366,309
900
2, 375
509
All other countries:
18,500
3.096
2,000
47,051
Total value:
2, 219, 706
2,604,797
2,000
2, 472, 189
Weight in ounces:
i 584. 252
i 682.827
513
645,139
i Figures defective, the weight of certain postal parcels not being declared by post office.
192 REPORT OF THE DIRECTOR OF THE MINT.
Value of the imports and exports of gold and silver coin and bullion registered in the
calendar year 1911, compared with the years 1909 and 1910 — Continued.
IMPORTS (SILVER).
Countries from whence imported.
1909
1910
1911
United Kingdom:
Private .
£7,072. 748
£5,535,834
£7.454.597
Government . .
18
48
France , , .
60,557
Austria-Hungary .
175
122
31
Turkev (Asiatic) .
89.070
80.608
61,308
Aden and dependencies:
Private . .
18.876
6,968
126
Government .
2, 132
1,690
664
Arabia:
Private .
28.092
24,808
50. 216
Government .
6.667
Bahrein Islands .
10, 300
18,877
11,483
Persia:
Private .
27.307
40.679
54.243
Government .
54.084
44,124
26.822
Ceylon .
89,485
86. 133
80.169
Straits Settlements .
237.173
2.408
43,887
4.583
Siam .
1,732
6.906
China .
698. 622
981. 65S
129,641
Japan .
1.000
Egypt .
850
685
1,303
Africa (East). . .
43.562
1
13,667
Mauritius and dependencies .
384
United States of America .
37.505
10,801
26,333
Australia (including New Zealand) .
316,329
415
498.490
553,373
All other countries:
Private .
12
G ovemment .
5.133
Total value:
Private .
8.733.858
68.016
7,332.283
45.832
8.447.991
Government .
27,534
Weight in ounces:
Private . .
79.916.662
65,034,049
256,407
74.716.915
Government .
380,913
1
154.062
EXPORTS (SILVER).
Countries to which exported.
1909
1910
1911
United Kingdom. .
£3,215
13.221
273
5,421
£3,108
1.845
160
£3.287
Turkey :
Private .
17.28S
100
Government .
Aden and dependencies:
Private .
333
Government .
2.400
230,951
305. 176
127, 788
1,333
Arabia .
209.254
287,326
63, 716
171.027
Bahrein Islands .
312.805
89, 444
2,397
Persia:
Private .
Government .
2. 067
447, 251
l!o30
539! 411
219.376
54. 682
20.454
Straits Settlements .
65. 190
242, 108
Siam .
7. 690
4s! 236
China .
598, 691
456 204
2.769.440
17
Natal .
17
419
Africa (East) .
97, 143
138. 687
243. 438
3,364
2,296
Mauritius and dependencies .
So! 739
129. S29
All other countries:
Private .
K7
99Q
Government .
Of
600
MO
Total value:
Private . .
1 « 7^ QA1
9 09*5 oct;
3.907.251
•3.830
Government .
l • 04 o% krOl
o cun
MO.
1 non
■*. uyu
W eight in ounces:
Private .
I 1*1 QA9 407
11C A7C
33. 219, 852
21.544
Government .
AO, 4U( , -til
lfi lit?
1 io, UfO, 4 fO
O*) kWi!
IO. Oof
OOU
1 Figures defective, the weight of certain postal parcels not being declared by post office.
OPERATIONS OF THE MINT SERVICE.
193
Description of gold imported and exported.
IMPORTED.
Classification.
1909
1910
1911
Weight.
Value.
Weight.
Value.
Weight.
Value.
Bullion (bar, ingots, and other
uncoined gold) .
Coin (sovereigns and other
British gold coin) .
Other coined gold .
Total .
Ounces.
1,310,400
1,097,179
38,513
£5,599,849
4,328,676
148,947
Ounces.
2,264,601
2,068,186
56,866
£9,664,375
8,142,573
221,060
Ounces .
2,093,737
3,582,973
95,688
£8,943,546
14,052,696
370,572
2,440, 152
10,077,472
4,389,653
18,028,008
5, 772,398
23,366,814
Mint and Coinage.
The Indian mints were closed to the unrestricted coinage of silver for the public
from the 26th of June, 1893, and Act VIII of 1893, passed on that date, repealed sec¬
tions 19 to 26 of the Indian coinage act of 1870, which provided for the coinage at the
mints for the public of gold and silver coins of the Government of India. After 1893
no Government rupees were coined until 1897, when, under arrangements made with
the Native States of Bhopal and Kashmir, the currency of those States was replaced by
Government rupees. The recoinage of these rupees proceeded through the two years
1897 and 1898. In 1899 there was no coinage of rupees; but in the following year it
seemed that coinage was necessary, and it was begun in February, 1900, the Govern¬
ment purchasing the silver required, and paying for it mainly with the gold accumulated
in the paper-currency reserve. In that and the following month a crore of rupees was
coined and over 17 crores of rupees in the year ending the 31st of March, 1901, including
the rupees issued in connection with the conversion of the currencies of Native States.
From the profit accruing to Government on the coinage it wp decided io constitute a
separate fund called the gold reserve fund as the most effective guaranty against tem¬
porary fluctuations of exchange. The whole profit was invested in sterling securities,
the interest from which was added to the fund. In 1906 exchange had been practically
stable for eight years, and it was decided that of the coinage profits devoted to this
fund 6 crores should be kept in rupees in India, instead of being invested m gold
securities. The gold-reserve fund was then named the gold-standard reserve. It was
ordered in 1907 that only one-half of the coinage profits should be paid into the reserve,
the remainder being used for capital expenditure on railways. The gold-standard
reserve was called into action before the year 1907-8 was out Exchange turned
against India, and in March, 1908, the Government of India offered ^ bilb onthe *ecre-
tarv of state up to half a million sterling, while the secretary of state sold £1,000 000
^ i • meet such demands. During April to August, further sterling bills
consols in order to m^tsucnaemana Qn| re^resentatfon by the Government of
were sold fora totelami otln July> 1909) f0 defer the application of coinage
India, the secretary . 'T.ji ,up sterling assets of the gold-standard reserve and
PrfitSM SrT combined amounted to £25,000,000. Exchange be-
the gold in the curren y * Q and bills on the secretary of state of die value of
came again weak in September, lyoa, 31st of March, 1910, the reserve
£156,000 were sold during that montn. cm uie
amounted to £19,764,047. orraneements were made in 1897 with Bhopal
As stated in the preceding P^P^’S^uSency These States agreed to cease
and Kashmir for the conversion of the local cur Govemment rupees for
further coinage and to withdraw the ir n^nt Qf India agreed to take over all the
the State coinage in circulation. The » , ^ Government rupees for every 124
coin circulating in the States, g*ving to hop for every 100 Ohilki rupees and
Bhopal rupees and to Kashmir 59 Government mp
47* Government rupees for every 100 Kham rupee.
194
REPORT OF THE DIRECTOR OF THE MIXT.
Similar arrangements have since been made with Bared*, Jodhpur, Xavanaar
Radhanpur, Kotah^ Jhalawar, Indore, Khairpur, Cambay, Sirohi, Dunsarpur Ban^
wara, Pambgarh. Karauli. Took (as regards Muhammad Khani currencv in the Sirooi
Faiganah ), and 5-hahpura (as regards the Phulia PamanahU These States have intro¬
duced Government com as the sole legal tender. The rates of exchange given ww
r ar^D10^ lol 130 Babushahi coins; Jodhpur, 100 rupees for loOlktisandas and
Bujeshahis; Navanapr, 100 rupees for 435 Koris; Radhanpur, 100 rupees for
'^?w'Arsu coins; Kotah, 100 rupees for 114 Kotah rupees: Jhalawar, 100 rupees
r ^1fwar ropees; Indore, 100 rupees for 113 Hali rupees: Ehairpur, 100 rawe
for 140 Chalan rupees; Cambay, 100 rupees for 129 Cambay rupees; Sirohi. 100 rupees
tor 120 Bhuan rupees; Dungarpur, 100 rupees for 136 Chiton rupees or 200 Salim Shahi
rupees; Banswara and Panabgarh, 100 rupees for 200 Salim Shahi rupees; Karauli
100 rupeesfor 1(6 Karauh rupees; Took (Sironj Paiganah . 100 rupees for 101 Mu¬
hammad Khani rupees: and Shahpura (Phulia Paiganah?, 100 rupees for 127 Chiton
I ■ KK5.
NATIVE MINTS.
With the fall in the price of silver, which preceded the closure of the Calcutta and
Bombay mints m 1S93, there was a very large importation of the metal into India and
excess e quantities were coined by some of the Native States during that period and
for some years following the closure. It was found, thereafter, that tbe coinages were
greatly m excess of the needs of the States, and operations abated in 189^ The
arrangements made with some of the States for the substitution of the British ’for the
local rupee, which have been mentioned earlier in this summary, had led to the
closing of the local mints. The only States in which coinage was carried on to anv
considerable extent during the year 1909 were Hvderahad. Cutch. Jaipur, and Maler
Kotla. The total coinage from new silver in 1909 amounted to S5O.7S0 tolas. ( Star-
i^tics of British India, Part I\ (a)y Finance and Revenue, 1911.)
JAPAN.
1. Amount of gold and silver coined during the calendar year 1911:
Denomination.
Pieces.
Value.
GOLD.
20 von .
1,47X000
eo.ooo
Ken.
29.4d0.000
mooo
w j tzm •««. - .
Total .
1.333.00)
»29.SO.Cn)
StLVTR-
50 ot .
9.907.376
500.305
3S. 751,030
4.953.^
100.061
X 575. 102
Total .
*s.as.s5t
X 1 y?1**1 *m“nl 27.761,771 Ttt was new coinage and S3 vea was from recoins? nifa mitk *t*1
yen was from recoin^ of f jrex^n coins: total. 1 W rx> ve*, voaxsuc cuu^.
AmestfeVoins mod 1 .365,410 yen was from recoina^e
forap w®5- tool. / The remainder. a59.51 1 ytn, was new coinage.
°* CO!n*** rtcom*e « *** v^es. Values of oM Japanese and fareien coins metted
2 ya and b>. None.
5. United States gold coin imported during 1911. $10; melted.
7. Stock of gold and silver on December 31. 1911:
none.
Character.
Convertible
note reserve.
Others.
TotaL
Bank of Japan:
Goki coin. .
IV*.
(V vt 1 ?
IVw
X4rU.«TO
Y€tL
Gold bullion .
x>4- iSa
1 M tin , >-
100.295. 45?
Silver coin . .
14Z.3i9.435
*9,471
911
132 . 5S^ 90S
911
474ft t Vl vi UJJU
Total
- m
525.673
52S.«
229. 154, 230
4 259. 725
333.41J»*5
OPERATIONS OF THE MINT SERVICE,
195
Character.
In Treasury.
In circula¬
tion.
Total.
Bank of Japan:
Gold coin .
Yen.
73
1,944.500
17,610.787
5,020,200
Yen.
33,969,896
Yen.
134,265.424
134,533.406
122,875,656
5,548,873
Gold bullion .
Silver coin .
105,263,958
Silver bullion .
Total .
24.575,560
139,233,854
397,223.359
8. Bank notes outstanding at the end of the year 1911:
Items.
Value.
Bank of Japan:
Convertible notes .
Yen.
433.399,116
229, 154. 220
204,244,896
Gold coin and bullion reserve .
Covered by public bonds, etc .
Total .
866,798,232
No silver coin and bullion reserve.
Note.— No Government note is in circulation at present.
9. There is no premium on gold, because the actual currency consists of gold coins
and notes convertible in gold.
10. Laws herewith.
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
GOLD.1
Country.
Imports.
Exports
(coin).
Coin.
Bullion.
Yen.
485,000
Yen.
405,004
Yen.
4,778,900
8,890.200
510
3,870
20
4,027,732
8,128,084
VJ 111 tvU tulvv * ■* * *• * v ' "
492.232
4,446,440
21, SOI. 564
i No ores imported and no ores or bullion exported.
SILVER.1
Country.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.
China . .
K wantung Province . . . ’ * .
Hongkong . - . . .
British America . . .
Yen.
35
100.000
i56
Yen.
1,126.623
. 2,782*
Yen.
1,0S7
. 2*826*
1,977
. i7,*734*
Yen.
2,573,098
United States of America .
100,191
1,129,405
23,624
2.573.09S
i No ores exported or imported.
196
REPORT OF THE DIRECTOR OF THE MINT
The following are the statistics for Taiwan and Chosen :
Exports and imports of gold and silver during the calendar year 1911.
TAIWAN.*
Description.
Exports.
Imports.
Gold bullion .
Yen.
Yen.
400
_ _ ....
Japanese 1-ven silver coins .
J apanese 1-ven silver coins t, stamped by Government ) .
. 77
311
Hongkong silver coins . .
296
Total .
Silver bullion .
Bank cf Taiwan notes .
. lbTSS
. 1.153
. 1.443
311
6.6S2
50.000
CHOSEN.
-
425 3,s81
*AH were exported from and imported to China.
i
13. There is no change in the coins of Japan except the following under €‘ Formosa
Since the adoption of the gold standard in Japan in 1897 the Government decided to
authorize the circulation of silver coins in Formosa for a certain time, at a rate fixed
by gold exchange. However, the exchange of the old 1-yen silver coins for gold coins
was completed on April 30, 1909. The coinage law (law’ Xo. 16 of 1S97 ) took effect in
Formosa on April 1, 1911, and since then the" same system as that in Japan proper has
been in force.
KOREA.
7. Stock of gold and silver in the country on December 31, 1911:
Chinese silver coin
Silver bullion .
Character.
In public
treasuries.
In Kan W
In circu¬
lation.
Gold coin .
Yen.
Yen.
1.979.990
75.443
74.503
1,170
Tern. _
5.500
Gold bullion .
Silver coin .
1,458.654
6,«3-*0
Silver bullion .
Total .
1.458.654
2.131.106
6.419. lj£
8. Bank notes outstanding at the end of the year 1911:
Item. I*» public
treasuries. ;
Gold hold¬
ings.
Banks ot issue .
Yen.
20,788,000
rm.
3.9T8.»»
197
OPERATIONS OF THE MINT SERVICE.
12 Sa and b)- Sports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin, Japan, proper .
Yen.
1,900, 187
Yen.
1,944,500
Gold bullion:
Japan, proper .
28
2,224
9,099,796
China . .
Total . I .
2,252
9,099.796
Gold ore:
Japan, proper .
•
68,081
154,310
12,500
United States of America .
Other countries .
Total .
234,891
Silver coin:
Japan, proper .
2,795,886
10,360
1,777,254
1,006
China .
Total .
2,806,246
1,778,260
Silver bullion:
Japan, proper .
8, 142
22,268
150
2, 130
32,337
China .
Germany .
Total .
30.560
34,467
SIAM.
1 to 6, 9 to 11: None.
7. Stock of gold and silver coin and bullion, December 31, 1911:
Gold bullion _ y .
Silver coin .
Silver bullion .
Ticals.
$6, 155
20,515,065
99,830
20,671.050
No information is available concerning stock of money in banks.
Circulation consists of approximately 100,000,000 ticals in silver coin.
8. The notes (Government) outstanding amounted to 26,039,000 ticals, legal-tender
silver holdings, 20,241,733 ticals.
12 (a). Imports and exports of gold:
Countries.
Imports.
Exports.
Coin.
Bullion.*
Coin.
Bullion.*
Singapore . .
Hongkong . .
United Kingdom . .
China .
Ticals.
41,649
*6,687
Ticals.
"2,063.300
539,666
Ticals.
. 80
Ticals.
""54*776
48, 336
2,602,300
80
54, 770
i Practically all gold lent.
REPORT OF THE DIRECTOR OF THE MIXT
198
4 '
12 (6). Imports and exports of silver:
4
Countries.
Imports. Exports.
Coin:
Singapore .
TkdU. Tknli.
. 258. 112
Hongkong . .
1.743.617 9.6S6
462.056 .
China _ _ _ _ _ ........
Cochin China .
34.431 1.130
2.315 .
Cambodia .
India .
273.035 115.623
2.5*15.454 3S7.561
Total .
13. Description of coins same as heretofore (see paper).
STRAITS SETTLEMENTS.
1. Amount of silver coined during the calendar year 1911:
Domestic recoinage:
5 cents .
10 cents .
20 cents .
Total .
Coinage.
Pieces. Value.
. 560,147 .
180.000 .
20.000 .
660.147 1 $40,007.35
i Straits currency; minted in India.
5. TTnknown, but believed to be very small.
7. Stock of gold and silver on December 31, 1911:
Character.
In public
treasuries.
•
In banks.
In circu¬
lation.
Clnld min (
£137.752
* $11,806,919
0)
<$654,304
0)
$6,545,649
Silver coin - . . . .
1 TTnknown.
2 Dollars and 50-oent pieces, including amount in currency vault.
» Straits currency.
« Silver bullion, unknown.
8. Stock of notes on December 31, 1911:
Items.
In public
treasuries.
Gold holdings.
Legal-tender
silver
holdings.
Government .
Ranks of issue
$36,859,310
317 140
£. s. d.
1,258,128 13 3
$11,734,173
UJ. i f 1 Tv
—
Total .
37,176,450
1,258,128 13 3
11,734,173
199
OPERATIONS OF THE MINT SERVICE.
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
[Values in United Slates currency.]
GOLD— IMPORTS.
Country.
Coin.
Bullion.
Ore.
United Kingdom .
$314, GGO
68
1,661
2,299,234
British North Borneo .
Burma .
Hongkong .
1 $300, 641
Malay Peninsula:
Kelantan .
$82,940
61,410
1,988
Pahang .
Perak .
Selangor .
487
2,199,302
227
1,974
9,181
104,599
243,428
795
13,842
1,095
954
Australia .
Austria-Hungary .
France . .
Netherlands .
Turkey .
Epvot .
Japan .
Netherlands Indies: Java .
Persia .
Siam (proper) - .
1,478
Total .
5,191,507
360,641
147,816
Tnternnrt . .
299,456
36,636
GOLD— EXPORTS.
$91,893
3
1,761
5,680
172,823
$147,816
DpitioVi XT rtrt h Rnrnpn . .
$234
90
1,324,251
356,881
1,250
826,959
318,563
364
148
31,997
5,335
263,739
Malay Peninsula:
15,304
166,331
48,848
7,327
.
French Indo-China .
1,704
5,134
653
4,057
681
. is*
3,626
7,185
Netherlands Indies:
3,658
18,542
16,210
4,756
334,365
195
. 3i,055
74
1,542
1,661
15,561
Celebes . * . .
Java .
Moluccas . /**/:**; . .
Riow and Lingga Archipelago .
. .
8,273
33,506
Siam, E. . .
3,178,579
957,143
147,816
Interport .
432,033
37,343
i Bullion imported from Hongkong nearly all gold leaf.
200
REPORT OF THE DIRECTOR OF THE MINT,
SILVER— IMPORTS.
Country.
Coin.
Bullion.
United Kingdom ....
'
Brunei . .
*80
8,093
1,784
8,521
22,718
184,504
4*1,276
1,023
345,203
4,612
6,271
7,952
2,192
195
1,249
12,282
508
2, 001
21,006
55,381
406
1,444
25,835
508 .
178,587 .
1,840 .
111,200 .
35,110 .
Bombay and Malabar coast .
Calcutta . .
Madras and Ooromundel <wusi .
llongkoug . .
.
Malay Peninsula: .
Johore .
Kelant-an . . .
Trengganu . ' * ‘ .
Negri Sem bilan . Will .
.
Selangor . .
Arabia . .
China . WWW.. .
Netherlands Indies: . . .
Bali and Lombok .
Borneo . .
. *i<#
. e.m
Moluccas . .
R iow and Ltngga Archipelago . . .
Sumatra, E. C .
.
Other Dutch Islands . .
Persia . . .
. .
Siam, E.frwWWWWWWWWWIW . WWIWW
Total .
.
Interport ... =
1,080,107
9,912
175,735
119
SILVER— EXPORTS.
United Kingdom .
1
Brunei . . * .
$135,112
147,330
Bombay and Malabar coast . .
Calcutta . .
Ceylon . Ill III . I III .
Hongkong . . .
Malay Peninsula: Johore. . . I . .
Kelantan . .
3,403
184,094
24,481
124,883
7,725
102
109,407
Negri Sem bilan . .
Pahang . .
Perak . .
Selangor . . .
N etherlands Indies: . . .
Bali and Lombok .
Borneo . .
242, 824
1,800
4,544
240,910
241.201
543.202
100, 181
118,481
10,801
22,573
57,257
954,050
41,033
8,409
2,783
114
29,750
1,512
. $193
Java . .
Riow and Lingga Archipelago . .
Sumatra, E. C . .
Sumatra, W. C . . .
Other Dutch Islands . .
Philippine Islands . . .
Siam (proper) . .
Siam, E. C . .
S i am , W . C . W W W W W .
Total . . -
. 12,837
13,910
.
Interport .
3,431,408
211,088
26,946
114
OPERATIONS OF THE MINT
SERVICE.
201
FEDERATED MALAY STATES.
No figures can be given relating to the banks. DU1U0D> n“-
8. The stock of currency and bank notes in the treasuries on December ti ion
amounted to $167,823 (United States currency). December 31, 1911,
12 (a and b). Imports and exports of gold and silver during the calendar year 1911:
Classification and country .
Imports.
Exports.
Gold coin:
Singapore .
PntlQn rr
$136,206
107
i endiig . . . . . . . .
Total .
136,313
Gold bullion:
Singapore .
265,392
70,818
$148,907
Penang .
Total .
336,210
148,907
Silver coin:
Singapore .
971,260
161,872
21,944
476
114
Penang .
Malacca .
British possessions .
8,317
Other loreign .
4,501
Total .
1, 141,449
27,035
(United States currency.)
AFRICA.
EGYPT.
1. Amount of silver coined during the calendar year 1911:
Coinage.
Pieces.
Value.
New coinage:
20 piasters .
10 piasters .
5 piasters .
2 piasters . .
1 niastpr . .
544,500
1,231,000
1,S08, 000
250,000
250,943
£E.
£ p 1x10 Ivi
4,084,443
i 329, 909. 430
> Of which £21,109.430 (Egyptian) was domestic rocoinage from the melting of coins of the face value of
£22,220 (Egyptian).
ftLThe above coinage was executed at the mi.it at Birmingham, England.
4 and 5. None
Character.
In public
treasuries.
In banks
and in
circulation.
Gold:
.
£E.
290.866
(’)
£E.
0)
h
Bullion .
Silver:
.
604,354
(J)
2,883,000
I1)
Bullion .
Total .
2 None.
895,220
1
2,883.000
i Unknown*
202 REPORT OF THE DIRECTOR OF THE MINT.
8. Amount of bank notes outstanding at the end of the year 1911:
Item.
Notes out
standing.
- Gold hold¬
ings.
National Bank of Egypt . .
£ E.
Q *-nrv /w i
£ E.
i,ool,U3(j
9. No.
10. No.
1 1 . No reports published .
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin:
Great Britain .
British possessions in Far East .
Turkey . .
France .
£ E.
5,037.729
702
890,446
563, ‘291
2S0.650
10,538
78,546
41,125
p F
765*552
5,013.235
495. 6S2
799,973
191
644
Austria-Hungary . .
Italy . . . .
Greece . .
^ tU.tr I CUUJLUlloo . .
Total .
24,812
Gold bullion:
Great Britain .
British possessions in Far East .
6.903,027 ! 7,100,089
27,283
205
France . . .
Austria-Hungary . .
42,567
69.56S
15.81 S
22
25, 158
Total .
422
Silver coin:
112,557
68.486
Great Britain .
308.814
29,479
843
5S1
235
23
21
British possessions in Far East . .
France . .
273
4S5
464
62
143
itaiy11^ . .
Greece . .
Other countries . . .
Total .
788
Silver bullion:
322, 139
31.970
Great Britain .
Turkey . .
France . .
81,550 .
50
5,063 .
3.806
2.507
Austria-Hungary . .
179
i oral . . . .
89.469
2.6 86
13. There have been no changes introduced in the coins of the country in 1911.
MOROCCO.
1 . Amount of silver coined during the calendar vear 1911 :
Coinage.
Pieces. Value.
New coinage:
Dollars (or rials) .
Half dollars . .
2,300,664
1,308,005
496,000
.
Total .
. - . .
4,101,669
$3,078,666.50
6, 7, and 8. No reply.
9. Premium on gold, 20 per cent.
Highest during 1911 .
Lowest during 19U .
Average during mi™;;;:;;;;;;;;:;:::::-
Per cent.
52
11
25
OPERATIONS OF THE MINT SERVICE.
203
10 and 11. No.
12. Imports of gold during 1911 :
Classification and country.
Imports.
Francs.
Silver and gold coins.1 France . : 1,886,081
Gold coins, Great Britain. . j 108,000
Total . j 1,994,081
Gold bullion, France . 26, 903
i This represents French money, silver and gold, separation of quantity of each impossible to give.
12 (6). Imports and exports of silver during 1911:
Classification and country.
Silver coins:
France..
Spain...
Do..
Total..
Imports.
Pesetas.
15,447,000
*250,000
5,697,000
Silver bullion :
Great Britain .
France .
Francs.
100,000
167,938
Total.
267,938
Exports.
Pesetas.
12,738,033
2 264,000
i 110,000
3,112,033
i Hassani pesetas.
* Spanish pesetas.
Statement showing total quantity and value of gold and gold dust exported from the Gold
Coast Colony by different mining companies during the year 1911.
Companies.
Quantity.
Value.
Aboso Gold Mining Co. (Ltd.) . """
Ounce*.
35,426.400
25,504.997
9,111200
134,610.900
4,308.025
1,130.500
5,948.200
802.800
5,214.510
16,245. 950
52.000
507.550
40,256.340
940.700
£. *■ d.
139,858 0 0
99,419 9 4
37,036 10 11
501,605 19 9
17,230 4 0
3,956 15 0
21,792 8 0
3,203 0 0
20,642 13 8
63,504 4 3
205 0 0
2,028 12 0
141,565 0 1
3,644 5 10
tfiDiani uoiautrius _ _ ..........
Tarquah Mining 6c Exploration Co. (Lt 1.) . .
Ashanti Goldfields Corporation (Ltd.) . .
Ashanti Rivers and ooncesaon ( Ltd. ) . .
Ashanti Quartzite Co. (Ltd.). . . . . .
Offin River Gold estates (Etd.) . .
Fura Gold Dredging Co. (1 Ltd-) • - • - - .y rv c .
Ancobra Exploration & Dredging Co. (Ltd.)..... .
Broomassie mines (Ltd.) . .
Afloh Gold Mining Co . .
Ancobra mines (Ltd.). - . " .
Prestea Block A (Ltd.) . .
Tarquah mines .
Total . . .
280,060.072
1,057,692 2 0
SM^nt <£ year
Companies.
Quantity.
Broomassie mines (Ltd.)- . " '
Bibiani Goldfields (Ltd.) .
Pound*.
963, 961. <305
100,495.000
1,064,456.605
Total .
Value.
£. *■ d.
12,802 14 9
1,121 11 11
13,924 6 8
S. Prood, Comptroller of Customs.
204
REPORT OF THE DIRECTOR OF THE MINT
BOMA-KONGO.
1 and 2 (a and b). There is no mint in Kongo. All coinage for Kongo is executed in
Brussels.
4 and 5. None.
7. Stock of gold and silver coin on December 31,
1911:
Character.
In public
treasuries.
In banks.
In circula¬
tion.
Gold coin (Latin Union) .
Silver coin (Belgian) .
$17,947.07
854,587.60
$48,250.00
285.640.00
$65,042.93
2,052,667. 90
Total .
872,534.67
333,890-00
2,117,710.83
8, 9, and 10. No.
11. The report of the mint as well as the report of the department of mines is pub¬
lished at Brussels, and these reports for Belgium include the colonial statistics.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification.
Imports.
Exports.
Gold coin of the Latin Union .
$57,900
Silver coin:
Belgian .
. .
1,747,422
Kongo .
$25,379.50
Total .
1,747,422
25,379.50
MADAGASCAR.
1, 2 (a and b). There is no coinage of gold or silver in Madagascar; only the regular
French coin is used.
7. Stock of gold and silver coin on December 31, 1911:
Character.
In public
treasuries.
In banks.
Gold coin .
Francs.
28,780.00
13,370,881.75
Francs.
Silver coin .
5,000,000.00
Total .
13,399,661.75
5,000,000.00
Note.— Gold and silver introduced into the colony by the treasury and banks amount to about 55,000,000
francs. There being practically no exports, the difference (36,611,407 francs), or more, is supposed to remain
with the public, but this amount is not visibly in circulation.
8. There are no local Government or bank notes issued.
12 (a). Imports and exports of gold during the calendar year 1911:
205
OPERATIONS OF THE MINT SERVICE.
CAPE COLONY (SOUTH AFRICAN UNION).
1. No mint in Cape Province.
7 Stock of gold and silver on December 31, 1911:
Character.
In banks.
GM:
Coin .
Bullion-.
saver:
Coin .
Bullion. -
.......... _ ...... - ....... - .....
£. t. d
2,455,509 3 5
71 10 1
XiL
Xfl.
Total.
"I
2.455.580 13 6
So information available regarding circulation.
*• i-k.— •syjjs.'sa; ^s2h£E*!55£ ttsansz
1 *“j^d b). Imports and export, ot gold and .liver during die calendar year 1911:
Classification and country .
£321,200
‘ '305,666
Gold coin:
United Kingdom
India . . . . . . . . . ” _ _ _ J 30
Australia . . .
British East Africa . . .
Zanzibar .
Mauritius .
St. Helena. . .
\scenson Islands .
Belgian Kongo . . 302,950
Portuguese East Africa.
Turkish Empire .
Southern Rhodesia .
Northwest Rhodesia . . .
131
4,970
6,500
Total..
940,751
jn,oi7
18,000
’ '35*666
10,000
6,350
3.500
150
1.500
173,000
3,230
251,747
Gold bullion:
United Kingdom .
India .
Germany .
--*!
112
.....
Total
Gold ore, United Kingdom.
115
1 35,063,644
700
35,064,344
42
Silver coin:
United Kingdom .
St. Helena .
Belgium .
Belgium Kongo.. . .
Portuguese EastAfrica .
Southern Rhodesia .
Northwest Rhodesia .
...
Total. ...... •
Silver bullion:
United Kingdom .
India . . .
United States of . .
Total .
162,799
'4,’666
. is
943
167,760
3,774
1,085
1,050
"4*797
24,035
1,500
32,467
1,852
J 1,852
. These figures are far the Union of South Afriea; no
* Native gold In bars,
a Native silver in bars.
76347°— 13 - 14
statistics available for the separate Provinces,
206
REPORT OF THE DIRECTOR OF THE MINT.
LOURENQO MARQUEZ (SOUTHEAST AFRICA).
Portal2 is a p,ortugue6e colony and has no coinage except that of
M and Transvaal coinage is also current, but not Ieg°al P °f
7. Stock of gold and silver on December 31, 1911:
Character.
In public
treasuries.
1 In banks.
Gold coin .
$851,176
$1,456,498
171,513
Total .
138,655
989,831
1,628,011
8. Bank notes outstanding at the end of the year 1911:
Item.
Notes out¬
standing.
Gold hold¬
ings.
Legal ten¬
der silver
holdings.
Banks of issue .
SI, 306, 266
$780,356
$101,051
- - - :: . . i
9. Premium on gold during 1911:
Highest .
Lowest . .
Per cent.
10 and 11. None. No mint.
12 (a and b). Imports and exports of gold and silver during the calendar year 191 J :
Classification and country.
Imports.
Exports.
Gold coin:
Portugal .
• • 03 CO c£ 2
837
344,200
Portuguese colonies . i . .
England . J * * ’ * .
English possessions . .
Transvaal . . .
Zanzibar . .
Total .
113,940
2,532,403
32,400
Gold bullion:
Portugal .
English possessions . . . .
Khodcsia . . .
Total .
412, 469
3,022, 9S0
25i,'846‘
396
465
66,040
Silver coin:
Portugal .
Portuguese colonies . ” .
251,846
66,901
32S.786
28,404
. 12,20*4
8, 748
4,0S2
Transvaal . . . ; .
Total .
Silver bullion:
357, 190
25,034
English possessions .
Rhodesia . .
Transvaal . ” . . .
Total . . -
49 .
273
.
110 .
. .
432 .
me miormation, such as it is was t * n\ t-
(2) From the customs of the MosambiqueTo with hej5]?m J?® pro^ln.cial customs;
the local public treasury; (4) From iWquSrt?re at (3) From
coast.” KV me banks “eluding their branches along the
OPERATIONS OF THE MINT SERVICE.
TRANSVAAL.
7. Stock of gold and silver in banks on December 31, 1911 :
207
Gold coin .
Gold bullion .
Silver coin .
Silver bullion .
. $14,507,002.
. 1,568,236.
. 629,414.
Total.
. . . 16,704,652.29
8. Bank notes outstanding at the end of the year 1911 amounted to $3 704 876
y. Premium on gold depends on the current rates of exchange. Gold is the stand-
aid cun'ency. Silver is legal tender up to 40s. ($9.73); copper, up to Is. (24 cents).
11. Ao report on operations of the mint. The mint has not been worked since the
British occupation of the Transvaal. Report of mines department for the vear ended
December 31, 1910, attached. ^
12 (a and b ). Imports and exports of gold and silver during the calendar year 1911:
GOLD.
Countries of origin and destination.
Imports.
Exports.
Coin/
Bullion.
Coin.
Bullion.1
Ore.
United Kingdom .
$1,563,119
$545
$4,949
87,597
$170,637,009
3,407
$204
India .
Australia .
1,484,282
British East Africa .
170,327
48,665
30,902
17,033
730
2 7,300
Zanzibar .
Mauritius .
St Helena
A spans ion Islands
"Rplcrian Cnn^n .
Pnrtnrmpsp East Afrioa
2 1,474,306
638
24, 187
31,632
Tnrlrkh Fmnirp.
Son thorn T?hnHp*>l£L
841,905
15,718
XT or t h Rhortp^iR
Germany .
2 15
Total .
4,578,164
560
1,225,126
170,640, 416
204
SILVER.
Countries of origin and destination.
Imports.
Exports.
Coin.
Bullion.
Coin.
Bullion.5
2 $792, 261
2 $18,278
2 $5,280
*5,110
23,344
* $9,013
4,5S9
116. 1)67
7,299
India . - . . . .
United States of America .
. .
19
.
816,404
18,365
158,000
9,013
1 Native gold in bars.
2 These figures arc for L nion
a Native silver in bars.
of South Africa. No statistics available for separate Provinces.
ZANZIBAR.
3 OccUeually small articles ol jewelry are mad. up irem fomign geld and silver
C°7MsSd.fgSd SdShSS currency commiaion on December 31. Mil: Ru?<„
Gold <
l com .
Silver coin .
Total .
75,000
887,944
. 962,944
888 :
208
REPORT OP THE DIRECTOR OP THE MINT,
8. Notes outstanding on December 31, 1911:
Item.
Notes
out¬
standing.
Gold
holdings.
Legal-
tender
silver
holdings.
Government .
Rupees.
1 , 427, 395
Rupees.
75 000
Rupees.
CC7 QJJ
OO / , tHri
9. There is no premium on gold. Indian diver rupee circulates. Poimd sterling
is legal tender on basis of 15 rupees for 1 pound.
12 (a and b ). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold, silver, and bronze coins:
Arabia.. .
Rupees.
107,546
2,045,005
310,290
17,550
2,014
398,910
Rupees.
4,725
400.000
337, 152
India .
British East Africa .
Benadir Coast .
German East Africa .
150,311
6,000
South Africa .
Total .
2,881,315
89S, 188
Silver bullion:
Germanv .
TnHia ( T'kiit/tVi
150,000
JLLLUla V JLM21CI1 ) .
Total .
152,000
150,000
152,000
AUSTRALIA.
Adelaide.
1, 2 (a and b), 4, 5, 9, 10, and 11. None (no mint).
3 and 8. No record. Can not be given.
7. Stock of gold and silver coin in public treasuries on December 31, 1911:
Gold coin . ..
Silver coin . ’” * * * . 138
Total . 7~7ZZ
No record as to banks or circulation. . 1 '
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold txiin:
United Kingdom .
Ceylon . .
£12,000
|VW1 IW1
Total .
.
AHJ, UU '
100,000
o i o rvYi
Gold bullion, United States of America
£17~
c.. , ... .
oiiver bullion:
United Kingdom .
Ceylon . .
India . .
Total .
35
. ies.'io
263,930
Silver ore, Netherlands.
35
432, 680
73,105
OPERATIONS OP THE MINT SERVICE.
209
Melbourne, Victoria.
1. Amount of gold and silver coined during the calendar year 1911:
Coinage.
Pieces.
Value.
Gold:
New coinage .
2,834,893
16,558
£2,834,893
16,558
Recoinage (domestic) .
Total .
2,851,451
2,851,451
No silver coin was struck at Melbourne, but Australian Commonwealth coin of the
face value of <£94,450, as enumerated in reply to question No. 2 (5), was issued to the
public. This coin was struck in London and would appear in the London mint
returns. British silver coin of the face value of £13, 411, was withdrawn from circu¬
lation and forwarded to the London mint .
2 (a). None.
2 (6). Silver coinage executed at foreign mints:
— , . £22,950
. . 39,000
Shilling . 9 200
Sixpence . 23 300
Threepence . _ _
Total.
94, 450
4. Amount of gold and silver returned from use in the industrial arts, deposited at
Description.
Gold.
Silver.
Fine ov nces.
6,305
None.
Old jewelry, jewelers’ fillings, and other old material .
1i^5S?^-SS5*S,S5SSS
too insignificant to record.
7. Stock of gold and silver on December 31, 1911.
Character.
In public
treasuries.
Gold coin
Gold bullion
Silver coin .
Silver bullion . .
. . |i £4,949,422
inn . . . . . . . .
Total .
4,949,422
In banks.
2£7,375,60S
7,375,608
- - 1,, A^otralia at the Treasury, Melbourne, in connection with Aus
made <
8. Notes outstanding on December 31, 1911
Total . . . . . .
— - . standing in the State of Victoria at end of 1911 can
of asssss:1
1 The amount u. r^tThe amount
not be ascertained, but th
2 Fully covered.
210
REPORT OF THE DIRECTOR OF THE MINT.
9. Xo.
10. Act Xo. 21: To amend section 9 of Australian notes act, 1910. Underact Xo. 21,
passed on December 22, 1911, section 9 of the Australian notes act 1910, is amended
by omitting subsection (1) therefrom and by inserting in its stead the following
subsection: “(1) The treasurer shall hold in gold coin a reserve of not less than one^
fourth of the amount of Australian notes issued. This act shall come into operation
on the first day of July, one thousand nine hundred and twelve.”
Note.-— At the time the act of 1910 was passed the prime minister gave Parliament a formal undertaking
that in practice the coin reserve would be maintained at not less than 40 per cent.
12 (a and 6). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
• Exports.
G old coin:
Great Britain . .
£307 152
New Zealand .
xoaooo
India .
375 *qq
France .
Oevlon .
li't
150 fiOn
Hongkong .
128 548
China .
21555
Java .
l.’ooo
Total .
1 Oka 4-Q
Gold bullion:
Great Britain .
£134
541.132
2
New Zealand .
United States .
India .
C; QQ-?
W, Wi
Total .
Sal
oe qgo
Gold ore:
Great Britain .
ou, ifif—
ft ft/vi
New Zealand .
iio
O, JxW
Germanv .
Total .
.
.
OW
i in
Ci 91 c
Silver coin, Great Britain .
IIU
142,540
Silver bullion:
Great Britain .
A W’
Mexico .
India .
oUu
3, 474
1
9, W7
New Zealand . .
Germanv . .
1
89
Total .
o
O 7Q1
Silver ore:
Great Britain .
Germanv .
O, 4 M
9, bW
s
181
21.826
Belgium . .
Total .
_
. 1
22, 015
Sydney.
1. Amount of gold coined during the ralerfUar year 1911:
Denomination.
Sovereigns .
Half sovereigns . * ’ ’
Pieces.
Value.
Total.
£ r
9,743,616 .
382.373 I .
10.125.989 19.934.802 10
1 Of which £9,904,341 10a. was new coinage and £30,461
was reooinage of domestic coins.
OPERATIONS OF THE MINT SERVICE. 211
“FSf* is 8UPPlied hr ,he Imperial Mint, London. (See answer to No. 2 (6).
2 (6). Comage executed at the Imperial Mint, London:
Denomination.
Pieces.
Value.
Silver:
Florins .
1,300,000
2.200.000
2,000.000
8,000,000
£130,000
110.000
50,000
100,000
Shillings .
Sixpences .
Threepences .
Total .
13,500,000
390,000
Bronze:
Pence .
3,708,000
2,832,000
15,700
5.900
Half-pence .
Total .
6, 600,000
21,600
4. Amount, of gold and silver and other old material deposited at the mint for coin¬
age during 1911 :
• Description.
Gold.
Silver.
Old jewelrv jeweler’s waste, filings, etc .
Fine ozs.
6, G09. 400
Fine ozs.
37.00
5. None.
7. Stock of gold and silver on December 31, 1911:
Character.
In public
treasuries.
In banks.
In circula¬
tion.
£4,949,422
i £28.846,749
(2)
1 1,177,476
(*)
4.949,422
30,024,225
i fiold and silver coin and bullion. 1 No reliable estimate.
8. Notes outstanding at the end of the year 1911 :
Items.
Government notes .
Banks of issue notes .
Total . .
i Banks of issue have now almost entirely withdrawn
“Australian notes act.”
Notes
Gold
outstanding.
holdings.
£10,150,358
(’)
£4,949.422
(l)
10,156, 358
4.949,422
their notes from circulation, through operation of
12 "(a) .a Imports' and exports of gold during the calendar year 1911:
IMPORTS.
Countries.
Gold coin.
Gold
bullion.
Gold ore,
quartz
and con¬
centrates.
United Kingdom . !!!!!!!!!!!-’-*"-• .
New Zealand . .
Straits Settlements . ;;;;;; .
Germany . ’’ .
New Caledonia . . .
SouthSoa^ Islands (so described) . 111111111111 .
United States of America . ‘ ‘ " .
Hawaiian Islands . .
Marshall Islands . . .
Papua . . . —
. . . ” .
£814
15,000
100
5,000
1,120
50
2,300
. 500‘
650
£148
1,518,617
. 4*24i
. 57
. 54,522
400
6.051
£8,032
. 4*905
New Pommern .
Total .
25.534
1,584,036
12.937
212
REPORT OF THE DIRECTOR OF THE MINT.
EXPORTS.
Countries. ♦
* - — - - - -
Gold coin.
Gold
bullion.
Gold ore,
quartz
and con¬
centrates.
United Kingdom .
£639,840
5,115,000
466,657
1,594,800
760,000
83,000
305,000
501,997
22, 155
1,000
1,037
280,000
523
£910,573
£51,488
Hongkong . .
400
799,270
. .
South African Union .
China . .
Java . . .
.
.
Germany . . .
Kaiser Wilhelm Land.'." .
850
6, 158
4,850
Belgium a an(^ (®° described)! ;!!!!!!!!] .
Total .
5,942
47,888
.
9,577
.
9,829,689
1,711,093
67,223
Gold contained in matte:
United Kingdom
United States of America .... . . ....... — ........ — .
Total . . . .
12(6). Imports and exports of silver during the calendar y
IMPORTS.
474
53,199
437,761
ear 1911:
Countries.
Silver coin.
Silver
bullion.
Silver ore.
United Kingdom
New Hebrides... . . .
New Zealand . .
Germany . . .
United States of America. . .
Marshall Islands. . . .
Philippine Islands. !!!]!]]!]!!;] .
Total .
£331,499
1,606
”6, ’666’
”666’
£4,061
. 2’
’ £643
. 70
338,765
4,063 |
713
exports.
Countries.
United Kingdom.
Fiji . . ;; .
Papua . .
France . .
New Hebrides..]]]!!^] .
Ceylon^ 1311111118 (^ described)]]]
India....’ ’]]];; .
New Zealand . .
Germany . .
Netherlands . ] ] ] ] ] ] ] .
Total .
Silver contained in matte:
United Kingdom....
Germany . *] .
United States of America. ...
Total .
Silver coin.
£2,400
7,295
560
403
4,068
6,097
20,823
Silver
bullion.
£35,492
13
168, 750
281,030
162
Silver ore
and con¬
centrates.
£33,083
1,040,753
43,250
170,230
114,755
485,447 1,402,071
. £205,467
. 149
. 14,355
219,971
OPERATIONS OF THE MINT SERVICE,
213
NEW ZEALAND.
7. Stock of gold and silver in bank on December 31, 1911:
Gold and silver coin and other coined metals . £5, 181, 126
Gold and silver bullion . 170, 827
Total . * . 5,351,953
8. Amount of bank notes outstanding at the end of the year 1911: Banks of issue,
£231,762.
9. There is no premium on gold. .
12(a and b). Imports and exports of gold and silver during the calendar year 1911:
Classification and country.
Imports.
Exports.
Gold coin:
£100,000
GOO, 000
£5,000
14,000
1,450
11,250
400
760,700
32,100
Gold bullion:
379,596
i 537, 151
898,528
149
.
1,815,424
Gold ore: .
58
1,361
New South Wales .
1,419
Silver coin: .
United Kingdom . .
Victoria . . .
Fiji (Islands) . -* . . :
Friendly Islands or Tonga .
70
39
2,400
. i4,*450
1,605
2,509
16,055
Total .
Silver bullion: .
United Kingdom . " .
Victoria . .
309
75
60
35,574
1,872
3
94,637
Queensland . . .
Ceylon .
Total .
.
444
131,587
- ilncludes £173, the produce of Ashanti, Gold Coast Colony. British West Africa.
TASMANIA.
11$: v£ o, & S&1
PART II.
REPORT OF THE DIRECTOR OF THE MINT ON THE PRODUCTION OF
THE PRECIOUS METALS IN THE UNITED STATES
DURING THE CALENDAR YEAR 1911.
215
REPORT ON THE PRODUCTION AND CONSUMPTION OF GOLD
AND SILVER IN THE UNITED STATES DURING THE CALEN¬
DAR YEAR 1911.
Tlie official estimate upon the production of gold and silver in the
United States is made by the Bureau of the Mint and the Geological
Survey working in conjunction, the latter making a mine canvass in
each State ami the former working backward from mint deposits
through refineries, smelters, and other reduction works to the figures of
the mine production made by the survey. The two systems thus
verify and support each other.
The total yield of gold in the United States was greater in 1911 than
in 1910 by $621,900, but with the exception of South Dakota, the
changes in any one State were relatively small. South Dakota made
a record production of $7,429,500, an increase of over $2,000,000, but
tliis was due in the main to full operations of the Homestake mine,
which was closed for a part of 1910. Nevada showed a slirinkage of
about $800,000 from its record production of 1910, due to fallm|off
in the latter part of the year bv its heaviest producer, the Gohlhehl
Consolidated. Colorado showed a loss of approximately $1,400,000,
and here again the result is in part due to the waning of a famous
producer, the Camp Bird mine. The decadence of these two great
mines are pertinent reminders that new discoveries must be con¬
tinually made to maintain the present rate of output. There is
nothing in sight in the mining situation of the Lmted States that
promises any material increase in gold production. . . .
The yield of silver in the United States showed an increase m 1911
of more than 3,000,000 fine ounces, Idaho leading in the increase, but
Nevada Utah Arizona, and Colorado contributing. The produc¬
tion from the three classes of ores was as follows: Dry or siliceous
ores, 25,375,833 ounces; lead ores, 18,995,208 ounces; copper oies,
16i3brief9revi'ew of mining conditions by States follows, for which
knowledgment is made to the Geological Survey.
ac,
ALASKA.
About *}]u fe’fUl r^am^erTs^fronTkefUKhs^mainlyTbe
feXX1 ^The tendency is “nt^r"4^
decrease and the total lode pio ^ ^ Alaska, and from the Yukon
increased from the Pacific declined from the Copper River and
and Kuskokwim ^asll,:5,f tue geward Peninsula, Fairbanks, and
. i . A 1 nC TLft increased gold output of Alaska in 1911
218
REPORT OF THE DIRECTOR OF THE MINT.
output of copper ores. Twenty-four dredges in all were operated in
tlie Seward Peninsula in 1911, against 16 in 1910. Dredging is
becoming of increasing importance.
The silver yield of Alaska in 1911 was about 500,000 ounces, mainly
from refining of copper produced and of gold placer bullion.
ARIZONA.
The gold and silver yields of Arizona in 1911 were larger than in
any other year for seven years, but there were very important develop¬
ments. The gold increase was chiefly in Mohave County, from the
Tom Reed and Gold Road properties, that county producing 40 per
cent of the State’s output. Nearly two-tliirds of the total gold came
T / l ■’* m I 1 / I /\/M 1 n nrv. i vt A n -Ml .V M y. i. 1 . . .. ) f-. .. ... ... _ _ _ I
from dry or siliceous ores, nearly one-third from co
. 1 _ A i if 1 I Vr i _ _
iper ore, and
about 4 per cent from lead ore. ^Nearly 56 per cent o ’ the gold was
recovered in bullion at gold and silver mills, and nearly 90 per cent
of this total was won by evanidation, while 10 per cent was won by
amalgamation. Arizona had 160 milling plants, of which only 46
were active. Of the total, 43 were equipped for concentration alone
and the others were constructed to treat gold-silver ores either by
amalgamation or evanidation, or both.
As in the past, most of the silver, or nearly 70 per cent, came from
copper ores, nearly 20 per cent from lead ore, and most of the remain¬
der from siliceous ores. The bulk of the State’s metal output is
derived not from the precious metals but from copper. Arizona
remained the leading copper-producing State in 1911, with a produc¬
tion of over 306,000,000 pounds. . A good quantity of gold and silver
was contained in lead ores, which increased to an unusual extent
from \\ arren district to Cochise County. Appreciable amounts of
gold and silver were also contained in zinc ores. With the exception
of the Imperial smelter in Pima County and the Arizona Consolidated
smelter in Gila County, all of the important smelting plants were in
opeiation, and a new one at Ilavden to treat the Rav ore was under
construction. A new plant equipped with roasters for the sulphide
ore will also be erected for the Calumet & Arizona Co. at Douglas.
ri eduction from the Commonwealth and Tombstone mines was
slight.
CALIFORNIA.
V^?10 lcTor^ h^m the State of California show that there
TT<h i produ?mg Punes.m 1911, of which 596 were deep mines
min f n ftvlfv °a ' T>US kmds* There were also some 2,000 more
mines oil which development work was being carried on. Of the
^ZS\™rdUCm$ 16-) aro hydraulic, 65 dredges, 141 drift, and
oi C Si St'’ sluicing properties. There are now 32 counties
ot California vlnch are producing gold. The largest county pro¬
duction of the year came from Yuba County (mainly from dredSng
VmadornCountv d tK ,llllnmf t.ho m°st productive in gold is now
miSng is Tib tv fWv^ V™ducor of gold from hydraulic
Thtf deep n^es of kfi?df ^ dn,ft m>08’ PIa™' County,
more gold in 191 1 tb. m ndVlma Produced more than SI, 500,000
cold to t o 1 ,.l liln 1 cTbln"d placers, the proportion of
compared with - 1' ' ln^ Por cent from the deep mines, as
compared with 45.53 per cent from the combined placirs. As to
PRODUCTION OF THE PRECIOUS METALS.
219
deep mining in the State, there is little change to be noted for 1911,
except in the case of copper mines, several large ones of which have
been closed down owing to the smelter fume troubles, and this affects
materially the silver output, and to a lesser degree the gold yield.
The deep mines of California produced 2,797,261 tons of ore in 1911,
of which 2,296,347 tons were siliceous ore carrying gold and silver.
The average value per ton varies slightly from year to year.
No new gold-mining districts worthy of special mention have been
discovered of late in California, the gold and silver continuing to
come from the old districts which have been its source for years.
The dredging industry shows some slight increase m g° if* produc¬
tion but this is not expected to continue long as m some fields the
best ground has been wSrked out. Of the total placer gold yield the
dredges furnished 85.32 per cent; hydraulic mines, /.51 per cent
drift mines, 5.34 per cent1; and surface pbcnmlJI Smc.
the svstem of mining by dredges began m California in 1891 there
=Si
or waste.
COLORADO.
The total value of the production of Colorad^^^WmgJold,
silver, copper, lead, and ™j ’ “ 4 per cent 'fhe yield of gold showed
1910, showed a decrease of about 1 c n considerable decrease,
the heaviest decrease and the output oV smer a practicaUy
The smelting situation ^/^Vhe Globe liadville, and Pueblo
as it was at the close of ^1910. Th ^ has been the case for
smelters were operated contanu y > a t0 tbe floods in the San
several years, not at full capac y- ® the railr0ads, ore from
Juan region and the SffiW “i^SSRvSlSto, and the Durango
»w^
rop“ltion Xfo *ecoyntlnuously until ‘November, and treated a
larger tonnage than m1910-. & Colorado Smelting Co. has added
The Salida plant of the Ohio U Dwight-IJoyd sintering
three Godfrey mechanical roasters a re®ar0 used at Lead-
machines. The blunting on- ■ ; r q{ the Dwight-Lloyd machines
it #££% decreased about
The yh§d of gold from the Cnpj le ‘Creek. *8®^ ^ the me
$440,000 hi 1911. Conditions m ft d ^ ^ Roosevelt tunnel, as
ion as in 1909 and in 1910. - m 1911 the subsidence
originally planned, was j R became apparent that tho tunnel
"PSTwater was very slight, and > . 37^umod in October, w.th sat»-
ZZ IndependencT mill SSKS
theTorfiand K on the Ajax
using tho Clancy process was comp
property .
220
REPORT OF THE DIRECTOR OF THE MINT.
Lake County (chiefly Leadville) produced a smaller tonnage in
1911 than in 1910, with comparatively small decrease in the yield
of gold, silver, and lead.
The San Juan region— Dolores, La Plata, Ouray, San Juan, and
han Miguel Counties combined— showed a decreased yield in all the
metals, except zinc, San Juan County contributing most heavily
to the decrease. For gold, San Juan County showed a decrease
of $374,064; Ouray, a decrease of $242,889; and La Plata, a decrease
of $103,907. The Camp Bird mine, in the Sneffels district, Ourav
County, produced a somewhat decreased tonnage, with a material
decrease in gold-silver bullion and a decreased tonnage of concen¬
trates. San Juan County showed heavy decreases for all the metals.
San Miguel County’s total yield showed a comparatively smali
decrease for the year 1911, as compared with the output of 1910, but
a considerable increase, as compared with the yield of 1909. The
upper San Miguel district, in which are the three large properties of
the Liberty Bell, Smuggler-Union, and Tomboy companies (these
yielding 90 per cent and more of the county yield), showed a slight
mcrease for 1911. La Plata County’s gold and silver yield showed
a material decrease because of litigation between two of its principal
properties. Dolores County showed a small total increase for 1911,
there being important increases for lead and zinc, but decreases for
the other metals.
Hinsdale County, also part of the San Juan group of counties,
showed a heavy decrease in output of all the metals except zinc.
In Mineral County (Creede) also part of the San Juan region, silver,
lead, and zinc yields decreased considerably, while the output of
gold made a comparatively large increase.
The yield of gold bullion and also the ore and concentrates ship¬
ments of Boulder County increased, with an increase in total output.
Clear Creek County showed an increased yield of the base metals,
but a decrease for gold and silver output. Owing to the closing
of all but three custom amalgamating mills near Black Hawk, the
output of bullion in Gilpin County fell off considerable, but the’ ton¬
nage of concentrates increased very heavily, particularly from the
treatment of ores from the Russell district, the contents showing
boa's y gains in all the metals, resulting in appreciable increases in
total metal output for the county.
DREDGING IN COLORADO IN 1911.
There were four dredges operating hi Colorado in 1 91 1 . At Breck-
enr.dge three dredges were operated. The Colorado Gold Dredging
Co. operated one of its two Bucyrus dredges of open-connecting type
with buckets of a capacity of 9* cubic feet. The Reliance dredge,
of the double-lift, open-connectmg type, with buckets of a capacitv
of 9 cubic feet and the h renck Gulch Dredging Co.’s Bucyrus dredge,
both m French Gulch, were also operated.
I he ( olorado Gold Dredging Co. operated during part of the i^ear
at Russell, Costilla County, its Hammond dredge of the close-con¬
nected Upe, of ,)4 buckets of 4 cubic feet capacitv. The total
?S*2£ty °7 g°ld recovered hy dredges in Colorado in 1911 was roughlv
13,000 ounces. < ° -
PRODUCTION OF THE PRECIOUS METALS.
221
IDAHO.
The total value of Idaho’s metal output in 1911 was greatly in¬
creased, principally as a result of the greater lead output and partly
from increased gold, silver, and zinc productions. The total quantity
of ore mined was over 2,000,000 tons, of which nearly 72 per cent was
lead ore, nearly 21 per cent zinc and lead-zinc ore, over 5 per cent
siliceous ore, and nearly 2 per cent copper ore. The production of
gold represented not quite $1,500,000, of which over 57 per cent
came from siliceous ore, over 29 per cent from placers, over 6 per cent
from copper ores, and nearly 6 per cent from lead ores. The mines
of Idaho have a comparatively large number of milling plants, of
which only 36 per cent were active in 1911. More gold and silver
bullion was recovered by the use of cyanidation than by the use of
amalgamation. The increase in gold output, however, was not from
deep-mine bullion, but from the operation of dredges. There was a
marked increase in silver output to a production of over 8,000,000
ounces, which is greater than any output since 1907. This was due
to the increased production of lead ore in Shoshone and Lemhi Coun-
ties Over 92 per cent of the total silver output came from lead ore
and lead-zinc ore; siliceous ore produced only about 4 per cent and
cormer ore 3 per cent of the total. . ,
There was more copper produced in Custer County in 1911 than in
iqio and this contained considerable value in gold, but a large
decrease in Shoshone County lessened the State total yearly 2,000,000
nounds. The lead output increased to the extent of 44,000,0 U
^ l TViorc were 5 oredges operated during the year, of which
pounds. There were 6 areogra op n in Lemhf County, treats 5,000
was won by dredges. moot? ANA.
There were decreases in the production of output' of'goiTwi
principally the Iasi, in 1 on al ■ j while that from deep mines
only slightly less than that ol .1910, .““^extent of about *100,000.
decreased, tn at from place . / ' « 4 non 000 and, as formerly, the
The total gold output was nearly M.000W aM £ ^
siliceous ores supplied [most ^ ^ ‘his totat^OTb^p^ ^ ^ ^ ^
was the source of o\ I > total placer gold output 8/ pei
placers over °Untana hKs^lUng’plants of
=e Ke,
000, 000 ounces
’ • ' silver output or 80 per cent
an increase in
sUiceous ores and stneores
came from copper ore, ovo. - . ( leaa ore r~
ajS'rs -8M B-- ““ c™“
76347°— 13 - 15
222
REPORT OF THE DIRECTOR OF THE MINT.
supplied over 92 per cent of the State output, which was the third
largest in the United States, Nevada being first and Utah second.
Dredges were used in Missoula, Powell, Lewis and Clark, and
Madison Counties, but the operations of greatest importance were at
Ruby, in Madison County, where 4 large boats were active. One of
these, with a rated capacity of 300,000 cubic yards per month, is the
largest dredge now in use.
NEVADA.
There were record productions of silver in Nevada in 1911, but a
slight decrease in the output of gold. In gold output Nevada was
exceeded pnly by California and Colorado, the former having eclipsed
all the other States in 1911. There has been a steady increase in
annual gold production from nearly $5,000,000 in 1904 to $18,000,000
in 1911. Excepting about 1 per cent from placers and over 2 per cent
from copper ore, all the gold is produced from siliceous ores. The
bulk of the gold output, or 83 per cent, was recovered in mills
equipped for amalgamation or cyanidation. Of this gold in bullion,
the greater part, or 69 per cent,wTas won by cyanidation, while 31 per
cent was recovered by amalgamation. Nevada has fewer idle nulls
than several of the adjoining States. Out of a total number of 141
mills, 89 were in operation and 12 were under construction, leaving
40 idle. The Goldneld district produced 56 per cent of the total gold
output of Nevada in 1911.
In 1911 Nevada not only made a record output of silver, but pro¬
duced more of the metal than any other State. The total production,
valued at $7,000,000, represented an increase of $250,000. With the
gold, it came almost entirely from siliceous ore, copper ore supplying
a little less than 1 per cent and lead ore over 1 per cent. Siliceous
ore averaged 0.63 of an ounce of gold and 9.56 ounces of silver per ton.
Ore smelted supplied over one-fourth of the total silver, concentrates
nearly one-fifth, and ores treated in gold and silver mills 54 per cent.
Of the last amount, which was over 7,000,000 ounces, only 2.4 per
cent was won by amalgamation, and the remainder was won by
cyanidation. Mines in the Tonopali district alone produced 82 per
cent of the total silver output of Nevada in 1911.
NEW MEXICO.
The yield of gold and silver in New Mexico in 1911 increased
materially over that of 1910. The Mogollon district, Socorro County,
is the most important in the production of the precious metals. The
output for 1911 was one and three-fourths times that of 1910. The
process used in the district is concentration and sliming, agitation
with cyanide, and treatment in filter presses. There were fom* oper¬
ating mills in this district in 1911. White Oaks, Lincoln County, is
an important gold district, the ore being found in auriferous pyritic
quartz veins. The gold has been recovered by amalgamation and
cyanidation, but in 191 1 the lessened output was from amalgamation
alone, the plan being to change the cyanidation from leaching to
agitation. Elizabethtown, Colfax County, once an important lode
mine district, again entered the producing stage, through the reopen¬
ing of three old mines and mills, the cyanide process being added to
the amalgamation equipment. Placers in tins district also made a
PRODUCTION OF THE PRECIOUS METALS.
223
small increase in gold output. Heavily increased shipments of sili-
cecyus gold and silver bearing copper of the Jarilla district, near Oro
Grande, Otero County, yielded an increased gold output, but the
cessation of placer operations caused a decrease for the district. The
base ores oi Las Animas district, near Hillsboro, Sierra County,
chiefly sulphides of copper carrying gold and silver with some free
o-old, yielded an increased output of gold, and the shipment of manga¬
nese ore carrying silver and lead from the dump of the Lake \ alley
Mines Co.’s property yielded an appreciable quantity of silver.
Lead-zinc ores from Magdalena, Socorro County, furnished some
S There were no smelters in operation in New Mexico in 1911. The
bulk of the smelting lead and copper ores and concentrates was
shipped to the El Paso, Tex., smelter and to the Copper Queen
' smelter at Douglas, Ariz. Copper ore was also shipped to the Shan¬
non smelter, Clifton, Ariz.
OREGON.
TVipre is little change to be noted in the mining conditions of the
Stic in the last two fears. The number of deep mines producing m
?QU was tea by 24 than in 1910, while there was an increase of 20
1911 was > * mbpr of producing placers of different
producing placers. 1 ie th nUmber of producing deep mines
tinds in 1911 ^^evJnes^ere worked by the hydraulic
was only 40 Of thejflace ^ $’u0 000 out Gf a total placer gold
system and the e p The laro.est gold producer among the coun-
lies of the State wi Bak*^“?^iu'ction in' the onler nlme’d were
Josephine, SEW? L n^Mhenr. Go.d ie heing pro¬
duced in 11 mines combined only produced about
45 WO fine^n«s in 19. C which is howeve^au ~ over to
' proj£rti£nof the'total silver yield wis derived from the deep mines
of Baker County. south DAKOTA.
The labor difficulties of 1909-111
beiow that of the record output
in&mest.keminewSP—
and sulphide ore waf^PP wly developed sulphide^od^
as
224
REPORT OF THE DIRECTOR OF THE MINT.
operated on ores from the company’s Buxton and Bonanza properties
and also on those from the Trojan mine, and from Bertschy s lease on
the McGovern mine of the Imperial property. Crude ore to smelters
at Omaha and Denver was also shipped from the Trojan and McGov¬
ern mines. The New Reliance Co. changed its mill from 4 Hunting-
ton mills and rolls to 20 stamps, and after reconstructing the mill,
operated from July throughout the rest of the year.
In the Bear Butte (or Galena) district, lead ore was shipped from
the Richmond-Sitting Bull property. The Gilt Edge Consolidated
Mines Co. was engaged in the construction of a 250-ton concentration
mill for the concentration of its pyritous ore, the concentrates to be
shipped to the new smelter being "erected by the Black Hills Smelt¬
ing Co.
The 500-ton dry-crushing cyanide plant of the AVasp No. 2 Alining
Co., in the Yellow (’reek area, was operated continuously. The Bis-
mark Consolidated Mines Co., in the same district, was engaged in
opening up its mine and building a 300-ton mill.
There was a small placer yield from Custer, Custer County. The
placer yield in Pennington County increased greatly. Near Mystic,
on Castle Creek, the Castle Creek Hydraulic Gold Mining Co. operated
from June to November the first dredge in the Black Hills. Other
operations in Pennington County were at the Golden Slipper mine
and mill, at Hill City; at the Columbia and Bismark mine, at Key¬
stone; at the Clara Belle property, at Oreville; and some placering
at Keystone and Pactola.
TEXAS.
The yield of silver in Texas, which has always represented prac¬
tically the total precious metal production of this State, showed an
increase for 1911. The gold yield, as usual, was only nominal; the
copper production was negligible, and the output of lead, while show¬
ing an increase, was comparatively of little moment. The greater
part of the State silver yield was from the Shafter district, Presidio
County.
UTAH.
In the last eight years the average annual production of gold in
l tali has been about 220,000 ounces, variance from year to year
not being great. In 1911 a little more than half of the total gold
output was derived from copper ores, nearly 35 per cent from siliceous
ores, ever 1 1 per cent from lead ores, and 2 per cent from lead-zinc
ore. 1 here was a very small placer output and no dredges were
opeiated. Siliceous, copper, and lead ore that was directly smelted
supplied nearly 64 per cent of the total gold output; and concentrates
ot various kinds, but largely copper concentrates, supplied 22 per
cent of the total. In bullion from gold and silver mills about 13 per
cent ol the total State gold output was recovered, and nearly all of
this, or over 97 per cent, was won by cyanidation, principally in
Toode Comity. A summary of mills in Utah in 1 91 1 shows that from
a total ol 65 plants 36 were in operation, 3 being built, and the re-
Se;7ldle' F«?rty were equipped for straight concentration, of
i < - v>ere active. Of the others, 24 were designed for amalgaina-
tion or cyanidation, or both, and 9 of these were active.
PRODUCTION OF THE PRECIOUS METALS. 225
J per cent or the total silver production, concentrates nearlv 9(\ nor
cent, and ore treated in gold and silver mills, principally in Salt" Lake
County, somewhat less than 1 per cent. Nearly 21 per cent of the
silver yield was from siliceous oL, 19 per cent from copper ores and
nearly 1 1 per cent from lead-zinc ores. The Park City region supplied
a silver production 33 per cent greater than that of 1910.
WASHINGTON.
Eighty per cent of the value of the total metal output of Washington
in 1911 was represented by gold, about 12 per cent by silver, amf the
remainder by copper, lead, and zinc. A comparatively small amount
of ore and tailings was treated in mills equipped for amalgamation
or cyanidation, and only a few tons of concentrates were made. Over
90 per cent of the tonnage treated was a siliceous ore containing gold
and silver, mined in great part at Republic, in Ferry County, and
shipped to smelters. Gold production from placers was unimportant.
Only 8.5 per cent of the gold and 1 per cent of the silver output came
from ores treated in gold and silver mills, but 91 per cent of the gold
and 98 per cent of the silver production were contained in crude ore
shipped directly to smelters. There were 33 mills in the State, of
which 8 were active and 4 in course of construction. Of the total,
18 were concentration mills and 15 were built for amalgamation or
cyanidation. In the Republic district, two new cyanide plants were
being constructed, one for the San Poil mine and another for custom
work. The latter plant of the North Washington P. & R. Co. is
being equipped with Cliilian and tube mills, agitation tanks, and
vacuum filtration.
Bullion, as well as smelting ore, will doubtless be an important
product of the district in the future.
WYOMING.
The production of gold in Wyoming in 1911 showed a material
increase over that of 1910. The yield of silver, usually small and
dependent on the output of copper ore, decreased. The tonnage
of copper ore and concentrates combined showed a considerable
decrease for copper-bearing smelting tonnage, and the yield of copper
decreased heavily- The copper yield, usually of chief importance
in tliis State, represented only 43 per cent of the State total m 1911,
gold representing 56 per cent of the value. .
The Atlantic City (or South Pass) district was the chief precious
metal district in Wyoming in 1911. An appreciable quantity of
placer gold was recovered from various sluicing operations in tlus
^Several carloads of copper ore from Hartville and a car of copper
ore from Saratoga were shipped to smelters Experiments at the
Rambler mill, near Holmes, resulted m the output of some platimf
erous copper concentrates. There was a considerable tonnage of
crude copper ore shipped from tlus mine in 1910, and the decrease
226
REPORT OF THE DIRECTOR OF THE MINT.
in copper yield for 1911 is attributed to lessened operations at this
mine. Small lots of placer gold were recovered at Holmes, Encamp¬
ment, and Hurricane.
An interesting feature about the coal mined at Cambria, Wyo. , is
that it is claimed to be gold bearing. Some of the coal has contained
as much as $2 per ton in gold, and the coal was sold for only $1.50
per ton. When coke made at Cambria was selling for $3.50 per ton
samples were taken from 31 cars during a period of 3 weeks and
assayed. The samples showed an average of $2.46 per ton in gold
and $0.28 in silver. The explanation offered for the presence of
gold in this coal is that the sands which submerged the old peat bog
and now form the roof of the coal bed were derived in part from
gold-bearing alluvium. While the sand was being deposited the gold
worked down into the underlying bog and is now found in the coal.
Tliis is one of the interesting statements made in a report published
by the Geological Survey. It is Bulletin 499, entitled “Coal near the
Black Hills, Wyoming-South Dakota,” by R. W. Stone, and may
be had free on request to the United States Geological Survey,
Washington, D. C.
SOUTHERN APPALACHIAN STATES.
The combined gold output of Alabama, Georgia, North Carolina,
South Carolina, Tennessee, and Virginia in 1911 was about $20,000
below that of 1910. North Carolina maintained the lead in gold
production, with an output of nearly half the total of all these States,
followed by Georgia and South Carolina in order named. The out¬
put of the Southern States was mainly from gold-quartz ores, espe¬
cially from North Carolina, and placers, mainly from Georgia.
The silver output of the Southern Appalachian States increased
in 1911 and was almost entirely from the refining of copper produced
from the copper ores of the Duektown district, Tennessee, the small
remainder coming chiefly from refining of gold bullion from gold-
quartz ores, particularly of North Carolina, and from placers, mainly
from Georgia.
APPROXIMATE GOLD PRODUCT.
Approximate gold product of the United States during the calendar year 1911 .
Items.
Weight.
Domestic product of fine bars reported by private refineries
Fine ounces.
2,968, 10U
1,695,940
22,949
Unrefined gold of domestic production deposited at the mints ami assav oiii'e^s .
Domestic gold contained in ores, copper matte., etc., exported for reduction F'M °2A\&
Less Mexican oros exported in matte from El Paso smelter . l’m
Total domestic product for 1911.
4 687.055
PRODUCTION OF THE PRECIOUS METALS. 227
Approximate disposition of the gold produdof the United States during the calendar year
Items.
Product of private refineries deposited at United States mints and assay offices
Product of private refineries exported as per customhouse returns
Product, of private refineries sold for use in the arts .
Domestic gold in ores, copper matte, etc., exported "for reduction, less Mexican ores exported
in matte from El Paso smelter .
Deposits of unrefined bullion at U nited States mints and assay offices . . .".’!!!!!!!!!!!!!!!!!!
Total .
Weight.
Fine ounces.
4,101,810
20,490
15,974
22,949
1,695,940
5,857, 169
Deduct: Fine ounces .
Bullion reported by domestic private refineries as contained in their product
but derived from foreign ores . 873,952
Bullion reported by domestic private refineries as from old material . 269,684
Total disposition of domestic product
1,143,636
4,713,533
APPROXIMATE SILVER PRODUCT.
Approximate silver product of the United States during the calendar year 1911.
Items.
Fine ounces.
Less Mexican ores exported in
Total domestic product for 1911
Weight.
Fine ounces.
58,627,078
1,628, 173
144,177
60,399,428
Approximate disposition ojtke silrer produxtojtl* VniUdSU.tr. durinp As eaUndnr
Items.
Product of ^fineries export^* wr^ciwtomhoiS returns..-
Product °f jj^.a^ ^re^coppor* matte^ etc!f expected for reduction (customhouse returns)
Total....
Fine ounces.
Deduct: n d by domestiC private refineries as contained in their product fi£) S95 992
739,371
1,173,410
Differences m
Total disposition of domestic product .
Weight.
Fine ounces.
2,770,728
111,378,008
18,755,092
144,177
1,628, 173
134,676.178
73,164,766
61,511,412
228
REPORT OF THE DIRECTOR OF THE MINT.
Approximate distribution by producing States and Territories of the product of gold and
silver in the United States for the calendar year 1911.
[As estimated by the Director ol the Mint.]
Gold.
Silver.
State or Territory.
Fine
ounces.
Value.
Fine
ounces.
Commercial
value.
Alabama - .
890
$18,400
200
$100
Alaska . .
806, 179
16,665,200
468,300
252,900
Arizona .
170,348
3,521,400
3,228,900
1,743,600
California .
964,041
19,928,500
1,270,900
686,300
Colorado _ _T .
925,839
19, 138,800
7,331,200
3,958,800
Georgia - T .
1,548
32,000
600
300
Idaho .
65,688
1,357,900
8,184,900
4,419,800
Illinois . .
4,000
2,200
Marvland and Pennsvlvania .
5
100
100
100
Mi rhi pan . .
507,700
274,100
49, 100
26,500
Montana . . . . .
176,554
875,438
3,6)49,700
18,096,900
12,163,900
6,568,500
Nevada . . . . . .
13,185,900
7, 120, 400
New Mexico .
36,847
761,700
1,341,400
724,300
North Carolina .
3,478
71,900
1,000
500
Oregon. . . . .
30,679
634,200
44,800
24,200
Philippine Islands .
9,448
195,300
3, 100
1,700
T^nrtn T? ipo .
97
2,000
20, 100
100
100
SnntVi Pdrnl inn ... .......
972
South Dakota. . . . . .
359,402
7,429,500
200,300
108,200
Tennessee . . .
576
11,900
107,000
57,800
Texas .
189
3,900
444,200
239,900
Utah .
217,020
4,486,200
11,630,600
6,280,500
Virmnia . .
150
3,100
200
100
WashinpfRn .
40,635
840,000
230,300
124,400
Wvomine .
1,030
21,300
700
400
Total .
4,687,053
96,890,000
60,399,400
32,615,700
Product of gold in the several States and Territories in 1910 and 1911 , with the increase and
decrease of each in the latter year.
State or Territory.
Value.
1910
1911
Increase.
Decrease.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia .
Idaho .
Maryland and Pennsylvania .
Montana .
Nevada .
New Mexico .
North Carolina .
Oregon .
Philippine Islands .
Porto Rico .
South Carolina .
South Dakota .
Tennessee .
Texas .
Utah .
Virginia .
Washington .
Wyoming .
$32,900
10,271,800
3.413.200
20,441,400
20,526,500
24,000
1,035,900
5,900
3,720,400
18,873,700
477,200
04,500
681.400
154.400
1,000
37,800
5.380.200
2,800
400
4,312,700
900
806,000
4,100
$18,400
1G, 665, 200
3,521,400
19,928,500
19,138,800
32,000
1,357,900
100
3,649,700
18,096,900
761,700
71.900
634,200
195,300
2,000
20,100
7,429,500
11.900
3,900
4,486,200
3,100
840,000
21,300
$393,400
108,200
8,000
322,000
284,500
7,400
40,900
1,000
2,049,300
9,100
3,500
173,500
2,200
34,000
17,200
96,269,100
96,890,000
3,454,200
620,900
$14,500
512,900
1,387,700
5,800
70, 700
776,800
47,200
"i7,700
2,833,300
Total..
Net increase.
PRODUCTION OF THE PRECIOUS METALS. 229
Product of silver in the several States and Territories in 1910 and 1911, with the increase
and decrease of each in the latter year.
State or Territory.
Weight.
1910
r. Fine oz.
Alabama . .300
Ateaka . 153, 900
Colorado . 8,523,000
Georgia . 300
Idaho . 7,027,000
Illinois . 2,000
Kentucky . 100
Maryland and Pennsylvania . ! 700
Michigan . 202,200
Missouri... . 32,200
Montana . 12,282,900
Nevada
New Mexico .
North Carolina. . . .
Oregon .
Philippine Island!
Porto Rico .
South Dakota .
Tennessee .
Texas .
Utah .
Virginia .
Washington .
Wyoming .
Total..
Net increase.
12,360,000
779,000
8,300
43,800
1,800
120,600
69,800
364,400
10,445,900
200
204,900
1,300
57,137,900
1911
Increase.
Fine oz.
200
468,300
3.228.900
1.270.900
7,331,200
600
8.184.900
4,000
100
507,700
49,100
12.163.900
13.185.900
1,341,400
1,000
44,800
3,100
100
200.300
107,000
444,200
11,630,600
200
230.300
700
Fine oz.
314,400
573,200
300
1,157,900
2,000
245,500
16,900
819,900
562,400
1,000
1,300
100
79,700
37,200
79,800
1,184,700
25,400
60,399,400
5,101,700
3, 26b 500
Decrease.
Fine oz.
100
520,700
1,191,800
100
600
119,000
’7,366
600
1,840,200
Distribution of the gold and silver product of the United States, in fine ounces, asreported
by the mine owners for the calendar year 1911, as to source of production.
[Figures furnished by the United States Geological Survey.]
Silver.
State or Territory*
Alabama .
Alaska .
Arizona .
California. ...
Colorado .
Georgia .
Illinois .
Idaho . . ■
Maryland and Pennsylv
Michigan .
Missouri .
Montana .
Nevada .
New Mexico....
North Carolina.
Oregon — --**-
South Carolina.
South Dakota. .
Tennessee .
Texas .
Utah
Virginia
Washington
Wyoming
ama
Gold.
Placer mines.
Deep
mines.
Fine oz.
915
208,654
164,807
520, 147
903,752
548
" *46, 830
146,372
869,925
35,996
3,153
22,501
975
359,320
562
1
226,944
109
40,813
588
Dredges.
Allother
placer.
Fine oz.
Fine oz.
72,562
534,060
1,144
370,865
13,166
63,858
2,303
977
'"ii',802
*7,757
.
. : —
..........
* *28,920
120
4,207
10,061
905
188
705
""*3*683
7,435
13
131
.
. -----
39
193
341
498,823
633,885
Dry or
siliceous
ores.1
Fine oz.
171
140,117
415,135
331,437
5,099,695
212
*337^715
1,618,376
12,834,730
1,183,427
943
35,268
11
183,385
‘"422,870
2,569,190
21
202,822
308
Lead ores.1
Fine oz.
725,315
74,611
1,887,923
. 3,036
7,604,326
49,867
769,068
238,397
62,221
20,370
. i,524
7,526,651
31,899
Copper
ores.
Fine oz.
320,114
2,130,121
864,397
342,550
254,095
87
497,281
9,597,752
111,474
108,892
. 9,953
106,060
2,377,946
9,060
417
of silver I
llregon, and South Dakota.
230
REPORT OP THE DIRECTOR OF THE MINT.
DREDGE PRODUCTION.
The possible production of gold by dredges lias been the subject
of much discussion during the past 10 years, and some very sensa¬
tional predictions have been made of the probable yield from this
source. The production by dredges in the United States has been
mainly in California and Alaska. The total yield during the last six
years has been as follows:
Dredge output of gold.
[Figures of the United States Geo logical Survey.]
Calendar years.
California.
Total
United
States, in¬
cluding
Alaska.
19011 .
•
008 TAQ
1 ea niV)
1907 .
K ru'.c 407
lOU, IRv
n ^ 07 no.;
190S . .
uiw, 10 i
A MA lOQ
O, OOi , UlfO
7 77'i
1909 . .
", uuU, JLo%*
7 Q5A
t < oOI , HO
w 700 oo«\
1910 . .
i , 00- , you
0, <00, OOU
Q OQQ lAft
1911 . .
< 1 OOU, fcO-i
7 AAA
*7. — JO . 1UO
IO *11 1
1U, 01 1 . M/
Distribution of the s Iver product of the l mted States us to the sources of production.
Source.
1900
1901
1902
1903
1904 1905
1900
1907
1908
1909
1910
1911
Quaru mills....
Lead bullion . . .
Copper bullion .
Total....
Per ct.
27.4
50.8
21.8
Perct.
27.8
40.7
25. 5
Perct.
29.4
48.5
22. 1
Perct.
29.9
43.0
24.5
Per ct.
20.2
40. S
27.0
Perct.
24.9
44.8
30.3
Perct.
29.0
30,8
39.0
Perct.
30.5
30.0
27.5
Perct .
39.3
31.3
29.4
Perct.
30.3
33.2
30.5
Perct .
40.4
31.8
27.8
Perct.
41.5
31.1
27.4
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
TOTAL PRODUCTION OF GOLD IN THE APPALACHIAN STATES.
*1 ho following statement exhibits the quantity of gold received
from those districts of the United States which have thus far pro¬
duced it in quantities sufficient to attract notice, commencing with
the \ ear 1S24. Up to that period it had been received at the mint
oidy from North Carolina, from which quarter gold was first trans¬
mitted for coinage m the year 1804. During the interval, however,
from 1804 to 1823, inclusive, the amount had not exceeded$2,500
yearly.
PRODUCTION OP THE PRECIOUS METALS.
231
232 REPORT OP THE DIRECTOR OF THE MINT.
Estimate of the production of gold in the southern Stales from 1799-1879, and annually
since.
Calendar
years.
Mary¬
land.
Virginia.
North Caro¬
lina.
South Caro¬
lina.
Georgia.
Ala¬
bama.
Tennes¬
see.
Total.
1799-1879 .
$2,500
$3,091,700
$19, 659,600
$2,587,900
$14, 180,500
$365,300
$155,300
$40,042,800
1880 .
250
11,500
95,000
15,000
120,000
1,000
1,500
244,250
1881 .
500
10,000
115,000
40,000
125,000
1,000
1,750
293,250
1882 .
1,000
15,000
215,000
25,000
250,000
3,500
250
509,750
1883 .
500
7,000
170,000
57,000
200,000
6,000
750
441,250
1884 .
500
2,500
160,500
57,500
137,000
5,000
300
363,300
1885 .
2,000
3,500
155,000
43,000
136, 000
6,000
300
345,800
1886 .
1,000
4,000
178,000
38,000
153,500
4,000
500
379,000
1887 .
500
14,600
230,000
50,500
110,500
2,500
500
409, 100
1888 .
3,500
7,500
139,500
39,200
104,500
5,600
1,100
300,900
1889 .
3,500
4,113
150,174
47,085
108,069
2,639
750
316,330
1890 .
16,962
6,496
126,397
100,294
101,318
2,170
1,001
354,638
1891 .
11,264
6,699
101,477
130, 149
80,622
2,245
519
332,975
1892 .
1,000
5,002
90,196
123,881
95,251
2,419
1,006
318, 755
1893 .
114
6, 190
70,505
127,991
100,375
6,362
250
311,787
1894 .
978
7,643
52,927
98,763
99,095
4,092
329
263,827
1895 .
499
6,303
68,476
127,819
127,942
4,635
334
336,008
1896 .
1,038
4,435
51,381
100,323
149, 2S8
6,495
584
313,544
1897 .
364
4,280
38,646
85,609
154,223
8,455
145
291,722
1898 .
890
5,075
89,960
105,398
133,989
6,578
147
342,037
1899 .
1,173
7,729
40,713
160,312
117, 106
4,766
176
331,975
1900 .
392
3,558
44,653
122,657
124,528
2,618
310
298,716
1901 .
139
6,465
60,411
127,304
147,580
3,773
255
345,927
1902 .
2,719
4,295
93,650
154,680
106,766
2,938
142
365,190
1903 .
632
4,465
105,603
107,883
66,541
4,894
58
290, 07G
1904 .
2,379
3,853
123,924
121,798
96,929
29,288
4,331
382,502
1905 .
16,887
5,002
123,896
95,082
94,793
41,505
3,307
380,472
1906 .
10,300
90,900
74,600
23,700
23,500
800
223,800
1907 .
8,300
78, 700
58, 100
64,800
27,400
3,800
241, 100
1908 .
3,000
4,000
97,500
31,400
53,700
7, 400
56,200
43,400
41.200
29.200
3, 700
255,300
119,700
1909 .
4,300
1910 .
900
64,500
37,800
24,000
32,900
2,800
162,900
1911 .
100
3,100
71,900
20, 100
32,000
18,400
11,900
157,500
Total...
73,280
3,288,503
22,985,489
5, 141,828
17,665,515
708,372
203, 194
£0,066, 181
MINE PRODUCTION.
The production of gold and silver from the mines of the United
States since 1792 is shown in the following table.
The commercial value of the silver product is reckoned at the aver¬
age yearly market price of silver on the New'York market.
Product of gold and silver in the United States from 1792 to 1844 and annually since.
[The estimate for 1792-1873 is by R. W. Raymond, commissioner, and since by Director of the Mint.]
Calendar years.
1792 to July 31, 1834 .
Julj 31, 1834, to Dec. 31, 1844.
1847 .
Total.
1848 .
1849 .
1850 .
1851-1855.
1850-1860.
1801-1805.
1800-1870.
1871 .
1872 .
Total.
Gold.
Fine ounces.
677,250
362,812
48,762
55,341
43,005
1,187, 170
483,750
1,935,000
2,418,750
14,270,625
12,384,000
10,716,271
12,225,570
2, 104,312
1,741,500
58,279, 778
Value.
814,000,000
7,500,000
1,008,000
1,140,000
889,000
24,537,000
10,000,000
40,000,000
50,000,000
295,000,000
256,000,000
221,525,000
252,725,000
43,500,000
36,000,000
1,204,750,000
Silver.
Fine ounces.
Insignificant.
193, 400
38,700
38, 700
38,700
309,500
38,700
38,700
38,700
193,500
309,400
28, 810, GOO
49,113,200
17,789, 100
22,236,300
1 18, 568, 200
Commercial
value.
$253,400
50,200
50,300
50,600
404,500
50,500
50,700
50,900
259,400
418,300
38.674.300
65,261,100
23.588.300
29,396,400
157,749,900
PRODUCTION OF THE PRECIOUS METALS.
ProchMo/voU im ^ ^
Calendar years.
Gold.
Silver.
Fine ounces
Value.
Fine ounces.
Commercial
value.
1S73 .
1874 . .
1,741,500
$36,000,000
27,650,400
1 $35 SSI tim
1875 . .
1,620,122
33,490,900
28,868,200
uuu
1 36.917 500
1876 . .
33,467,900
24,539,300'
» f VUU
30,485,900
1877 .
1 f Jo 1 y 0/ o
39,929,200
29,996,200
34,919,800
1878 . .
** i oo2
46.897.400
51.206.400
38,900,000
36,000,000
34,700,000
32,500,000
30,000,060
30,800,000
31,861,000
34,869,000
33,136,000
33,167,500
32,967,000
32,845,000
99 17s nrwi
30,777,800
36,991,500
40,401,000
35,477,100
34, 717,000
1879 . .
4/ it 109
35,022,300
1880 .
1,001, <8/
1 Til
31,565,500
1881 . .
1, 4 oUu
30,318,700
1882 . .
i i 0/ Oj uJJ
1 *170 1C7
33,257,800
37,657,500
1883 . .
ljds lo7
1 AZ l ocn
36,196,900
41,105,900
1884 .
-I f xO I y
35,732,800
39,618,400
1885 .
i j you
37,743,800
41,921,300
18S6 . .
I , woo, 04 O
1,686,788
1 m*} aia
39,909,400
42,503,500
1887 . .
39,694,000
39,482,400
1888 .
ouoj wy
41,721,600
45,792,700
50,094,500
54,516,300
58,330,000
63,500,000
60,000,000
49,500,000
55,727,000
58, S34, 8C0
53,860,000
54,438,000
KA 7 OA Zftn
40,887,200
1889 .
JLy UlTXj llO
1 ^Q4 77s
43,045, 100
1890 .
1) vytj 4 40
1 588 877
46,838,400
1891 .
1, woo, 01 t
1 04 CAA
57,242,100
1892 .
1 , uirt, oru
1 5Q7 008
x/OjUJU
99 At? AAA
57,630,000
55,662,500
1893 .
dj I j I/JO
UiOj IaW
Oft Q« AAA
1894 .
If 4 O&j OaJO
1 ciin an
od j yoOj wii
9q vmi nnn
46,800,000
31.422.100
36,445,500
39,654,600
32,316,000
32.118.400
32,858,700
35.741.100
33.128.400
29,415,000
29,322,000
QQ 4.^ 4W|
1895 .
j } OIO
2,254,760
2,568, 132
2,774,935
3,118,39 8
3 ,437,210
3,829,897
3,805,500
3,870,000
3,560,000
3,892,480
4,265, 742
4,565,333
4,374,827
4,574,340
4,821,701
4,657,017
4,687,053
aid non
1896 .
UlUj UUU
59 Hftft non
1897 .
OO y uuu
57,363,000
64,463,000
71,053,400
79,171,000
78.666.700
80,000,000
73.591.700
80.464.700
88. 180.700
94,373,800
90.435.700
94,560,000
99,673,400
96,269, 100
96,890,000
189.8 .
1899 .
1900 .
1 Uti OUU
57 A47 nnn
1901 .
Uf ^ kt±4 j UUU
55,214,000
55,500,000
54,300,000
57.682.800
56,101,600
56.517.900
56,514,700
52.440.800
54,721,500
57.137.900
60,399,400
1902 .
1903 .
1904~ .
1905 .
OOj TvU^ uw
. 34,222,000
3S, 256, 400
37.299.700
28,050,600
28,455,200
30,854,500
32.615.700
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
Total .
102,999,002
2, 129,176,500
1,836,530, 100
1,471,817,600
Grand total .
162,465,950
3,358,463,500
1,955,407,800
1,629,972,000
GOLD AND SILVER USED IN INDUSTRIAL ARTS IN THE UNITED
STATES DURING THE CALENDAR YEAR 1911.
Among the purveyors of gold and silver bars for use in the indus¬
trial arts the United States mint at Philadelphia and the United States
assay office at New York hold the foremost nlace; consequently, the
larger portion of the material consumed in the arts is brought under
Government notice and is a matter of public record.
The following table gives the value of the gold and the quantity
of the silver bars issued bv the Government institutions and private
refineries during the calendar year 1911, with the class of material
from which they were made:
rnM and silver bars issued by the Government institutions and vumufactured by private
Gold ana sin _ a arte durina the calendar year 1911.
Value of gold issued by—
W eight of silver issued by
Govern¬
ment insti¬
tutions.
Private
refineries.
Total.
Govern¬
ment insti¬
tutions.
Private
refineries.
Total.
Dollars.
3-5,147, 183
Dollars.
2, 187, 109
166,666
Dollars.
37,334, 292
166,666
Fine ounces.
1,990,3*2
Fine ounces.
29, 945,989
7,000
Fine ounces.
31,936.34 1
7,000
35,147,183
2,353,775
37,500,958
1,990,352
29.952.989
31,947,341
Materials used.
Bullion, old plate, etc.
United States coin....
Total.
234
REPORT OF THE DIRECTOR OF THE MINT
Estimating that the total amount of gold coin used in the arts dur-
caiendar year 1911 has been $3,500,000, and silver coin
$100,000, equivalent to 77,344 fine ounces, the total industrial con¬
sumption of gold was $40,834,292, and of silver, 32,013,685 fine ounces.
In order to arrive at the net consumption in the industrial arts,
there should be deducted from the foregoing totals the amount of old
jewelry, plate, etc., included in the private refinery returns, and also
the same class of material returned to coinage use. In the year 1911
these amounts aggregated $7,731,238 in gold, and 1,480,582 fine
ounces in silver, which leaves $33,103,054 of gold and 30,533,103 fine
ounces ol silver as the net amount of new bullion devoted to indus-
trial use.
The following table gives the amounts and classification of the gold
and sin ei used in the mdustrial arts hi the United States since 1880:
Gold and silver bars furnished for use in manufactures and the arts and classification of the
material used , by calendar years , since 1880 .
GOLD.
1880
1881
1882
1883
1SS4
1885
1886
1SS7
1888
1889
1S90
1891
1892
1893
1894
1895
1896
1897
189S
1899
1900
1901
1902
1903
1904.
1905.
1906.
1907.
1908.
1909.
1910.
1911.
Calendar years.
United States
coin.
Domestic
and foreign
bullion and
foreign coin.
Total new-
material.
Old material
$3,300,000
2,700,000
2,500,000
4,875,000
5,000,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500.000
3,500,000
3,500,000
3.500,000
3,500,000
3.500,000
3,500,000
3,500,000
3.500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
$5,511,047
6, 271,311
0,219,461
8,707,824
7,600,423
6,153,650
7,759,915
7,992,406
8,969,076
8,310,913
9,525,462
9,568,009
9,908,099
7,498,690
5,310,081
7.454,419
6,005,116
6,733,159
8.476,871
12,215, S09
13,561,553
15,131,943
17,605,984
19,103,562
17.274,999
21,975,192
28,382,934
27.967,816
20.945,797
26,748,209
30, 660, 874
29,603,054
$8,811,047
8,971,311
8,719,461
13,582,824
12,600.423
9,653,650
11,259,915
11.492,406
12,469,076
11,810,913
13,025.462
13,068,009
13,408,099
10,998,690
8,810,081
10,954.419
9,505,116
10.233,159
11,976,871
15,715,809
17,061,553
18,631,943
21,105,984
22,603,562
20,774,999
25.475,192
31.SS2.934
31,467,816
24.445,797
30,248.209
34,160,874
33,103,054
$1,294,385
1,595,431
1,795,246
1,852,638
1,899,577
2,171,092
3,266, 775
3,317,940
4,045,766
4,886,143
4,630,498
6,618,907
5,920,975
4,437,211
3,848,523
4,474,666
3,890,818
3,637,072
3,589,008
4,131,369
5,086,589
5.237,013
6,576,863
6,459,989
7,880,964
7,733,423
7.243,829
9,259,254
7.030,294
7,380,560
7,626,278
7,731,238
Total.
112.875.000
425, 153, 65S
538, 02S, 658
156,550,334
Grand total.
$10,105,432
10.566.742
10,514,707
15,435,462
14,500,000
11.824.742
14,526,690
14,810,346
16,514,842
16,697,056
17,655,960
19,686,916
19,329,074
15,435.901
12,658.604
15,429,085
13,395,934
13,870,231
15,565,879
19,847,178
22, 14S, 142
23,868,956
27,682,847
29,063,551
28.655,963
33,208,615
39,126,763
40,727,070
31,476,091
37,628,769
41.787, 152
40,834,292
694.578,992
PRODUCTION OF THE PRECIOUS METALS.
235
Gold and silver bars furnished for me in manufactures and the arts and c.asnjkaiion of
the material used, by calendar years, since 1880- Continued. J
SILVEE.
C alendar years.
United States
coin.
Domestic
s and foreign
bullion and
foreign coin.
Total new
material.
; Old material
. Grand total.
ISuV) .
Fine ounce*.
464,063
154,687
154,687
154,687
154,687
154,687
154.687
154.687
154.687
154,687
Fine ounce*.
2,126,326
2.418,873
4,783,339
3.971.275
3,784.167
3.468.715
3.238.588
3.464.589
5.369,556
5,870,650
6,212,525
6.345.372
Fine ounce*.
9 hrQfl Q&Q
Fine ounce e.
203,540
219,644
907
Fine ounce*.
2,793.929
2.793,204
5,235,716
4,418,962
4,253.906
4,071,970
3.916,275
4.206,209
6,266,305
6,780,684
7.138,173
7.427,552
7.194.042
1HA1 .
• ow, ooy
9 zee\
1882 .
**• 0*0, DOU
4,938,026
4.125.962
3,938.8.54
3.623.402
3.393.275
3.619.276
5,524,243
6,025.337
6,367,212
6.500,059
6.476,693
6,351,612
7.442.947
1883 .
'XTJ fifY*
1884 .
315,052
445.568
523,000
586,933
742,062
755,347
770,961
927,493
717,349
1,099,899
974,410
1885 .
1886 .
1887 .
1888 .
1889 .
1890 .
154,687
154,687
1891 .
1892 .
154,687
6.322.006
1893 .
77.344
6.274.268
7,365.603
7.451.511
8,417,357
9.495.511
1894 .
77,344
1895 .
77.344
8.382.937
8,460,281
1,035,230
1896 .
77.344
6,943,496
7.020,840
871,528
7.892,368
1897 .
77.344
7.675,818
7.753,162
910.227
8.663.389
1898 .
77.344
8.307,947
8.385/291
786.552
9.171,843
1899 .
77.344
10.419,087
10.496.431
1,629/261
12, 125.692
1900 .
77.344
11.338,941
11.416.2S5
1,800.999
13.217.284
1901 .
77,344
12.832.630
12,909,974
1.223,720
14,133.694
1902 .
77,344
16.46S, 7S5
16,546.129
2,798,880
19,345.009
1903 .
77,344
15.9.56.742
16,034.086
3,934,270
19,968,356
1904 .
77,344
17,743.490
17,820.834
2,659,153
20,479,987
1905 .
77,344
19.231.410
19.308, 754
4,391.923
23.700,677
1906 . .
77.344
17.866,890
17,944.234
3,909.030
21,853,264
1907 .
77,344
21.993.698
22.071.042
2, 298. 742
24,369,784
1908 .
77.344
20.183,555
20,260. 899
3,589,929
23,850,828
27,901.126
24,789,807
32,013,685
1909 . -
77.344
20.881.820
20.959,164
6.941,962
1.602.979
1910 .
77.344
23.109.484
23, 186. 828
. .
77,344
30. 4 do, t o9
30.533.103
1 , 480, 582
Total .
3.789,843 |
340.808,341
344,598.184
50.739.915
395.33S.099
EXCHANGE
OF FINE GOLD BARS FOR GOLD COIN AND GOLD
BULLION.
The value of the fine gold bars furnished to the trade in exchange
for gold coin mid bullion, monthly, by the United States mint at
Philadelphia and assay office at New York for the calendai j ear 1911
was as follows:
CALENDAR YEAR 1911.
Months.
Exchanged for gold coin.
Exchanged for gold bullion.
Philadelphia.
New York.
Total.
Philadelphia.
New York.
Total.
January-* .
February .
March .
April .
May .
July .
August .
September .
October.
November .
$588,991.51
584.417.78
684.320. 59
622,312.76
520.429.95
405.290.38
479.633.18
476.855.58
581,998.23
610,821.81
445,600.29
312,448.63
$1,901. 445. 3S
1,804.079.72
2.193,303.41
1,768.360.05
2.213.971.76
2.126.521.44
1,457.339.64
2.217.864.70
4,182,320.48
4.746,719.98
2.239,395.07
1,608,906.87
$2,488,436.89
2.368.497.50
2,857,624.00
2.390.672.81
2.734.401.71
2.531.811.82
1.936.972.82
2,694.720.28
4.764.318.71
5,357,541.77
2 684.995.36
1.921.355.50
$33,590.63
23,740.70
25,276.05
27, OSO. 27
29,021.22
24,135.09
23,874.01
13.816.90
26,457.72
27.369.27
21.643.49
24.834.21
$35S, 519. 07
281.635.86
278.137.74
317.098.73
316.536.88
306,347.45
404.836.48
287. 142.36
357,184.34
370,353.07
364.658.30
382.640.93
$392. 109. 70
305,376.56
303.413.79
344,179.00
345,558. 10
330.482.54
428,710.49
300. 959. 26
383,642.06
397,722.34
386.301.79
407,475.14
December..
Total .
8.271,120.69 !
28,460,228.48
34,731,349.17 300,839.56
4.025.091.21
4 . 325, 930. 77
236
REPORT OF THE DIRECTOR OF THE MINT.
THE WORLD’S INDUSTRIAL CONSUMPTION.
Since 1893 this bureau has endeavored to obtain, through the
United States representatives abroad, official estimates from the vari¬
ous countries of the world of the consumption of precious metals in
the arts and industries.
The results of the inquiries, though at tunes incomplete, are con¬
sidered sufficient to warrant efforts.
The interrogatories sent out by this bureau for 191 1 were as follows:
What was the estimated weight of fine gold and silver used in the industrial arts
during the calendar year 1911? What amount of gold and silver in the form of old
plate, jewelry and other old material was returned from use in the industrial arts to
monetary use by being deposited at the mint for coinage?
The following replies from all the countries reporting as to their
consumption of precious metals in the arts during 1911 are submitted:
Australasia. — -A communication from Australia states that the
amount of gold and silver used in the arts during 1911 was: Gold,
Si, 837, 800, from which a deduction of 25 per cent is made for old
material; and silver, 60,200 fine ounces. The amount of gold and
silver issued from the Melbourne mint to jewelers and others for
industrial purposes was for gold 7,038 standard ounces, and silver
30,103 fine ounces.
Austria. The United States consul general at Vienna, Austria,
reports that the amount of gold used in the arts during 1911 was 5,134
kilograms in domestic com and 58,760 kilograms of silver. The gold
represents 165,058 fine ounces, of a value of $3,412,052, and the silver
1,889,134 fine ounces, which, after deducting 25 per cent for old mate¬
rial, leaves 1,416,850 fine ounces for new material.
Hungary. — In the absence of any official information regarding the
industrial consumption for 1911 the estimate for 1910 is repeated for
1911, viz , 4,293.53 kilograms, or 138,037 fine ounces of gold, and
21 121.66 kilograms, or 679,061 fine ounces of silver. The gold is
valued at $2,853,482, and the silver is equivalent to 679 061 fine
ounces.
1 he net v alue of the gold used by Austria and Hungary is estimated
at the same figures given last year, viz, $5,750,000, and the fine ounces
of silver, 2,095,911.
Canada. The American consul general at Ottawa states that there
were 97,500 fine ounces of gold and 718,000 ounces of silver used in
the arts during 1911. The value of the gold is $2,015,500. The
following table is submitted as showing the consumption of cold ami
silver in industrial arts during 1911:
Material.
New bullion (0.999 fine)
Old plate, jewelry, etc.*.
Foreign coin 1 .
Total .
1 Approximate.
note.— The Director of t he Mint states that he feels there
the scrap in the second and third items under tho head of gol
Gold.
Silver.
Weight.
Value.
Fine ounces.
95,000
1,550
2,500
$1,900,000
31,000
50,000
Ounces.
718,000
(*)
99,050
1,981,000
71S, 000
3 Negligible quantity,
more accuracy in the bullion, fine, than in
PRODUCTION OF THE PRECIOUS METALS.
ounces oi silver. ° - -
W disturbances gold and
- ~ - iwiu umj WIICC |n U V lllUt?© oi uiina,
tne estimate for that country is included in the estimate for the total
Asiatic countries in the table at the end of this article.
Finland. The United States Ambassador at St. Petersburg reports
that the amount of gold used in the arts was 8,624 fine ounces, and
silver, 7,664 fine ounces; deducting 25 per cent for old material, leaves
for the new material used 6,468 ounces of gold, valued at $133,705,
and 5,748 ounces for the silver.
France. — The United States consul general at Paris reports that the
director of the French mint states that the quantity of silver used in
the industrial arts during 1911 was 352,000 kilograms, and gold,
39,500 kilograms; deducting 33 J per cent for old material, gives
7,544,534 fine ounces for the silver and 846,617 ounces for the gold
($17,501,126) for the new material.
Hon. Myron T. Herrick, ambassador extraordinary and minister
plenipotentiary for the United States at Paris, sends us the following
information, officially prepared, regarding the production and indus¬
trial consumption of gold and silver in France in 1910:
Report in Reply to the Questions Concerning the Statistics of Gold and
Silver in France in 1910.
It is quite difficult to reply in a positive manner to the questions that have been
submitted on this subject; we can only arrive at approximations and in certain cases
at estimates which, although based on plausible hypotheses, could not serve as a
basis for working out exact statistics, such at least as the questions appear to demand.
To know how much of the annual production of the mines, how much gold and silver
metal has been employed for minting purposes, and how much for industrial (we
sneak here of new metals), it is sufficient to deduct from the general statistics of the
world’s mining production (statistics published in London) the total for France and
other countries of the money coined.
INDUSTRIAL CONSUMPTION.
76347°— 13— -16
238
REPORT OF THE DIRECTOR OF THE MINT.
of leavings, fallings, and filings in France, has permitted us to reach an evaluation of
one-third of old metal for two-thirds of new metals.
Thus, if one turns back to these statistics of 1911, there has been sold as silver the
following total:
Silver:
First title. .
Second title
Virgin .
Compound .
Total ....
Kilograms.
... 78,600
... 34,800
... 66,000
... 34,700
214, 100
The old silver can be estimated at one-third of this weight, or old silver melted
down 71,366 kilograms.
Fine gold
Gold at 1,000
Alloyed gold
Total
Kilograms.
.... 22,700
700
24
.... 3,700
27,124
The old gold melted down can be estimated at one-third, or 9,041 kilograms
Platinum.— There has been sold 700 kilograms of platinum. The old platinum
can then be estimated at one-third of this weight, or 233 kilograms.
It is only a question here, for the above figures, of the quantities of metal sold bv
the merchants and smelters of gold and silver in France.
As to how much of the metal is diverted from monetary to industrial use, in our
calculation we include either domestic or foreign coin melted for use in the arts and
manufactures.
The president of the Syndical Chamber of Jewelry Manufacturers in France as¬
sures us that the quantity of money melted to be employed in the arts is practically
nonexistent, the quantity being so infinitesimal that there is, for France, no need
to occupy one s self with it.
\\ e regret not to be able to give exact information, but we believe that it is not
possible m the actual state of these statistics to ascertain the details that have been
pointed out to us.
Germany. — No official information has been received from Ger¬
many relating to the uses of the precious metals in the industries
since 190/, and in the absence of later figures the 1907 figures are
repeated in the table for 1911.
Great Hritaiu. Dr. T. K. Rose, chemist and assayer of the royal
mi nt in London, reports that the gold and silver wares presented
for assay and stamping from July 1, 1910, to June 30, 1911, at Bir-
mingham, Sheffield, and Chester amounted to 501,547 ounces for
^old and 6,812,196 ounces for silver.’’ The report also states that
“the amount of fine gold contained in these wares was 262 489
ounces.” Assuming that 25 per cent of this amount was from old
material, the value of the new material is $4,069,600. Deducting 25
per cent for old material, of the silver and assuming that it is 0*925
fine (British standard), gives 4,725,961 ounces, fine.
1 hose are the actual figures showing the amounts contained in
wares presented to Government institutions for assaying and stamp¬
ing, hut aie known to be far from the total amounts consumed in
the arts during the calendar year 1911.
It will be seen that practically no recent data exists upon which to
base an estimate for the United Kingdom. It is to be presumed
however, that this line of industry in Great Britain has not fallen
behind the development in France and Germany and that it bears
some relation to that of the United States. Having regard for the
figures made for these countries, the industrial consumption of gold
m the l mtedKin^lom for 191 1 is estimated arbitrarily at $18,000,000
and at 12,000,000 fine ounces for silver.
PRODUCTION OF THE PRECIOUS METALS. 239
able ySneeT«l iffi! *8?' Btted that .no ^formation is at present avail-
auie. bpecial difficulties are experienced in this country in procuring
Hie information, as the trade is organized on extreme^ petty lines*
The large importation of gold in the last two years, however, has di¬
rected special attention to the subject and it is possible that the in¬
quiries we are making may add to our information before the sta¬
tistics ot the current year are prepared, though no very definite or
quantitative results can be expected.” It is understood that the
uncoined gold imported into India is all used in the industrial arts.
The amount imported in 1911 was £8,943,546 ($43,523,767). There
are no available figures showing the amount of silver used in the
industrial arts in India. Usually the imports of silver bullion, minus
the amount used in coinage, is taken as the amount consumed in the
arts. The imports of silver bullion were 74,930,977 ounces and the
exports 33,241,396 ounces. The net imports were 41,689 581 fine
ounces.
All of the coinage during the year was recoinage.
Italy. — In the absence of any official figures for 1911 the figures for
1907 are repeated, viz, $3,000,000 for gold and 2,028,400 fine ounces
for silver.
There are no sure elements to answer this question, as in Italy
free regime is in force for working metals.
Madagascar. — The American consul at Tamatave reports that there
were used in the industrial arts 804.17 ounces of gold (new material) .
and 596.96 ounces of foreign gold coin. The value ($28,964) repre¬
sents the gold industrial consumption. No silver is reported.
Netherlands. — The American minister at The Hague reports that
there were used 32,665 ounces of gold and 367,412 ounces of silver,
old plate jewelry, etc., domestic and foreign coin. Deducting 2o per
centf for ’old material, the gold value would be $506,434, and the
PartneU used in the arts 4,575.7399 kOo-
based’ ' The figures for Portugal are used for the net consumption
“tflhJMSiiSor at St. Petersburg reports that
thm-e were used in the arts 691.4 poods of gold and 10^941.3 poods of
tnere were u i ht Gf 40 Russian pounds, equaling
silver. (Pood - a we e egents 354,122 ounces of gold and
65,971 gold and 163,659 sih ei v ^ Stockholm states that the amount
^Sweden. — The consul general at Bml ^ 1>650 nd?
of <rold and silver used in the artsm b 3 . ht f gold [s equivalent
o fold and 15,400 P°1u^sflo/±f302 a^dX silver to 184,800 fine
to 19,800 ounces, valued at $40J,3U~, at
ounces.
240
REPORT OF THE DIRECTOR OF THE MINT.
The amount of gold and silver reported as having
been used for industrial purposes in Switzerland during 1911 w.,f
^ alued at 39,000,000 francs for the gold and 5,000,000g francs for
and'’r<(965000 ' Tnl Vi 1 “'l^ Sta,es money to *".527,000 for the gold
per the foUowmg: h V6r’ rePresentmg 1.787,037 fine ounces, as
£!S!wS toSSSS: ta“ ®'d b"Wm •» *■** «I i to th« 01. .
. 8,000,000
Less gold bullion exported . 12, 000, 000
. 3,000,000
Leaves for industrial purposes durine 1911 -
JK>™ during 19lT a"0“ °r 'llVer buUi011 leaves 5,000,000 tan™ (or industrial pur-
Tn'rW ™R T Europe. Practically no information is available for
rurkey, Bulgaria, Roumama, and the smaller Balk, in States A
communication was received from the director of the niint afcon
stantmople which reads as follows: at <"on~
arJnotaknotnq,USSu2 ftfiELZlnf of ““i"7 f°r industrial pulses
1908 .
1909 .
1910 .
1911 . ;;
1912 (to Oct. 27)
The dram equals
3.207362 grams
Drams.
1,322,327
1,588,635
1,763,173
1,793,108
837,587
su™ _«■> SOW “<1 silver smiths.
of special guarantee but the mint exercise ?D1^>1*e c^ar?ecl with the function
Slv«AC^r be“S 4 «"* (•««) ps“ S^AtPM,“dtfXpSr
pSter‘2dvSSd“ made b>' dr)’ °r “ me,h,A. “'cording to Gay-Lussac or Char-
bu‘ countries have
sir erab e weaUh A 2!i c ™P°.rtant and no incon-
and 800!000 ounces oHiTver ' eSt‘mat0 ,S made of SS00.°00 £«><•
Stafe^Wn mcni?7lf^'TR0tUrn? from a
mate for 1910 is repeated ’for 19“* abSCnce °f fuU returns the «**-
tries based uponthe net^bTOrptimTofTbe laSf Te<tr for these coun-
known to have been used in coinage f TV. a “^s.less the amounts
^et^ f0r
consumption of the precious metals iuZlduia^u fo/theye^
PRODUCTION OF THE PRECIOUS METALS,
241
Country.
Gold.
Silver.
United States .
$31,439,300
15,536,000
17,501,100
18,000,000
7,527,000
3,000,000
Fine ounces.
29,897,000
10,000,000
Germany .
France .
7,544,500
12,000,000
United Kingdom .
Switzerland .
1,787,000
2,028,400
A n^f rin-H nnwrv .
5,750,000
2,095,900
Russia . . - .
5,645,300
4,321,600
Reltnnm . . . . . .
700,000
4,013,200
Netherhinds . . . .
506,400
275,600
250,000
200,000
200,000
75,000
409, 300
184,800
133, 700
5.800
2,280,800
500,000
500,000
390,400
800,000
1,378,300
60,200
718,000
1,000,000
2,015,500
1,000,000
iuUXll/Uy v 1.111! cXI uUU kjuuui ' 1 •
114,272,700
77,397,400
Asia .
50,000,000
66,371, 100
164,272,700
143,768,500
EXPORTS OF SILVER TO THE EAST.
The exports of silver from London to India, China, and the Steals
since 1881 have been as follows:
Calendar years.
India.
China.
Straits.
Total.
112,375,612
18,604,945
18,040, 140
26,073,909
30,913,667
21,159,591
19,798,328
21, 162, 116
28,392,786
35,673, 177
21,717,992
35, 180, 897
34,319,877
24,391,351
17,038,610
23,874,942
28,250,305
20,984,625
25, 597, 912
37,916,065
36,987,395
30,987, 195
36, 125,636
46,306,153
36,754,830
73,997,060
51,935,064
45, 133,819
32,477,074
35,090,872
43,131,303
§3,898,860
1,584,318
4,212,574
5,018,714
3, 160,315
1,769,425
1,427,179
1,153,002
2,731,861
1,284,498
1, 177,620
719,668
11,635,650
13,279,564
8, 042, 003
3,602,597
2,721,522
3,721,656
6,929,117
11,252,496
4, 101,764
991,793
1,508,907
2,495,502
4,315,841
2,096,002
2,420,354
3,608,023
9,538,340
7 100,223
5,208,615
83,577,729
7,354,255
11,189,631
8,136,097
3. 108. 140
2,892,064
2,766,946
3,219,321
8.181.141
4,441,197
10,754,800
18,622,825
7,847,295
6,002,565
3,668,772
4,025,257
3,597,331
1,971,443
1,396,223
3,922,477
3, 150,630
5,363,710
3,999,674
385,758
186,382
8,516
3.44S, 645
802,413
557,701
§19,852,201
27,543,518
33,442,345
39,228,720
37, 182, 128
25,821,080
23,992,453
25,534,439
39.305.788
41,398,872
33.650.412
54,523,390
53,802,822
43,673,480
29,349,385
31,502,796
34,569,158
26,677,724
33,923,252
63,091,038
44.239.789
37,342,698
41,634,217
49.247.413
41,257,053
76, 101,578
57,801,063
49,544,255
42,573,115
42, 191,095
48,339,918
-4- REPORT OF THE DIRECTOR OF THE MINT.
IMPORTS AND EXPORTS OF BULLION INTO AND FROM LONDON.
The imports and exports of bullion from and to various countries
at London during the calendar year 1911 were as follows:
Imports and exports.
Imports.
Countries.
Austria . .
Beteum . .
Franc* .
Germany .
Holland'. . .
Sweden and Denmark.
Russia .
Spain* Portugal, etc _
Switzerland .
Turkey . .
Gibraltar . .
Malta.
£§31* .
Ceylon .
Bombay, Madras ami Calcutta.
Singapore and lYnang . .
Hoortoae and Shanghai .
Dutch Indies. .
Africa (west coast) .
British South Africa .
C nited States .
Mecrico, South America, ete. .
Brazil. .
British North America .
Australia. . .
New Zealand .
Other countries .
Gold.
$4&1.S»
224,973
8,905.057
803.957
38,737
5,110
310,458
537,072
92
IS), 056
3,635,850
10,928,996
676, >91
Total..
2.456,045
4.589.392
181,113,144
320,770
3,634,25$
7.688,593
1A)
7,471.757
1.680,596
1.192,234
236,988. US
Sdver.
58,808
193.356
851,599
1.499.977
6,463
462
53.595
2,049
4.385
13.023
154.185
85, 164
129,215
145,995
266,845
744,005
15.4:46
57.901,2*2
1.6*8.303
13.816
5,371,974
233,704
172. t»3
34,226
69.560.520
Exports.
Gold.
$849,837
587, 3$«
31,976,482
28,457.579
5,245.600
2,341,273
302.974
2.303.777
20, 833, 146
501.249
437,985
19.976.982
487
44.593,550
75.256
9,733
1,479. 192
384.375
1,638,083
69. 104
9,550,409
21,750.501
1.784,317
195,149,278 82.358,392
Silver.
$85,358
206,890
4,583,815
8,413. 28S
25.919
70,321
8,435,090
616.279
24.332
275.006
19, 1*12
1, 199.860
167,009
42.865.72S
4,979.159
>0.667
5.236, 120
776. 737
44.163
1,095,254
1.051.526
1,718,673
487
396,809
GOLD AND SILVER IMPORTED INTO AND EXPORTED FROM BRITISH
INDIA.
Gold and silrer imported into and exported from British India in each fiscal war ending
March Si . from 1S7S-74 {British standard ounces).
(Frvrni Financial and Commercial Statistics of British India.)
IVriixL
Gold.
Silver.
Imported.
Exported.
Net im¬
ports.
Imported. Exported.
Net im¬
ports.
l'CS-74 . . .
Otiew,
Omkvr.
Ommcts.
331,554
446.964
355.985
im,OB
177.101
374.227
777,533
1,038,240
1 . iMS, $10
1, 138,584
973.053
544,457
395,174
Oumer*. Outer*.
% % % ^ %%»%%%%%%«%«
Owmcrt.
8,747,151
16,969,590
5,451,074
2S.2».S«^
51.436,351
13,916.146
27,581. 194
13,6*2,358
18,852.031
26.216.C65
22.448.221
25, 393. >63
40,677.913
25.078. 814
S2.rs;.s*>
32.C6.a6>
XS.64S. 774
51.53S.0cv
1874-73 . .
1875-76 .
1876-77 . .
1877-78 . .
15T8-79 .
.
1S79-90 . . ...
1880-81 .
1881-82 .
1SSSF83 . .
1883-84 .
1884-85 . .
1SS5-86 . .
1886-8T .
1887-88 . .
un-a . .
1889- 9C . .
1890- 91. . .
569.684
512.287
836,2*2
1.175.S75
41.646
50.710
76.848
161,616
5is,ass
*1.577
rrs.ss4
1,014.
sr.srr.ui
37.S44.065 5,«K.6K>
4S/M0.6S9 5. Js^.SSS
S6,l«fcVS70 , 4,651. Ts5
PRODUCTION OF THE PRECIOUS METALS. 243
Gold and silvt r imported into and exported from British India in each fiscal year ending
March St, from 1873—74 ( British standard ounces) — Continued.
Gold.
Silver.
Period.
Imported.
Exported.
Net im¬
ports.
Imported.
Exported.
Net im¬
ports.
1891-92 .
Ounces.
709.102
I
Ounces.
285,454
Ounces.
423, 64S
-454,483
Ounces.
38,177,580
Ounces.
5,829,142
Ounces.
32,348,438
1892-93 .
272,442
726,925
54,180,144
8,656,632
45,523,512
1893-94 .
474,635
236,873
695,055
657,238
378,399
96,236
00,328,296
32,638,009
5,999,323
54,328,973
27,040,022
1894-95 .
926,843
-689,970
5,598,047
1895-90 .
372,432
322,623
34,082,810
7,064,731
27,018,079
1 890-97 .
347,873
309,365
37,520,322
11.591,234
25.929,088
1897-98 .
1,129.149
397,114
732,035
68,535,612
24,250,995
44,284,617
23, 165,425
18,646,282
49,435,164
39,005,192
42,274,309
-Q 1 fcO 1
1898-99 .
1,432,461
410,461
1,022,000
49,226,780
26,061,355
1899-1900 .
1,914,037
353,225
1,. 500, 812
50,663,542
32,017,260
15,311,385
27,721,780
32,294,876
25,142,629
23,769,313
4,535,314
7 ft7Q 1 ^1
1900-1901 .
1,987,738
1,881,060
106,678
64, 746,549
1901 2 .
1,372,249
1,097,743
274,506
66, 726,9(2
75,569, 185
104,324,765
98,118,908
88,853,079
125,878,008
106,358,274
85,048,761
-*» cni 74X
1902 3 .
2,187,384
770, 766
1,416,618
1903 4 .
3,330,466
1,764,229
1,566,237
<y, lax, too
71 0 4Q riqn
1904-5 .
3,605,017
2,396,420
2,088,025
1,516,992
-65,472
2,377,151
2,781,340
625,338
3,505,136
3,842,943
«4 Q17 7f.5
1906-0 .
2,461,892
M ,014, • w
118 198 857
iq(H>-7 .
3,019,101
642,010
1,019, ldl
O U9 Q1 ^
llOj 1 JC7| VI
97,915,359
73,740,131
01,014,752
55,101.708
1 007-8 .
3,380,405
599,065
o, -Hi, 91d
11,308,630
14 4S6 993
1 Q08-Q .
1,334,107
70S, 769
1009-10 .
4,095,042
589,906
iO, OUl , <40
/'ll IQQ 7'}fl
lly UO\J
14 03 0
1910-11 .
4,526,821
683,878
uy, ivy,
11^ V»A/
IjJ^^iu-e^esti^ted'oul'yl^educ^dfrom th^dwl^e^values^nh^traUrfor^hase^years bjM'he'foilowing
process:
For gold, the rupee value of the “0^|^'y ^e™^rt^en^ividedrbv\^e°EngfL^Rrnint price of gold (£3
in ^^g^ver *the'aveK^eS^ric?of Soi^rupees^per U)0 tolas/or 285.33 rupee., per 100 ounces, was
taken as the basis of the value of the annual imports.
STOCK OF MONEY IN THE UNITED STATES.
HI 1 11C
official table:
- - -
Item.
Gold.
Silver.
Total.
31,589,301*, 137
. 56," iioi 823
$725,819,460
2,099,385
* 11,578
6,457,302
$2,310,128,59/
2,099,385
11,578
62,634,125
cssiastfito-* . ;
~1, 645, 485, 960
734,387,725
2,379,873,685
Total .
bolted ,or !!7
3,275,721
3,500,000
22,171,263
627,218
100,000
3,902,939
3,600,000
22,171,263
NKSS.?«®8&2 «* y“ 191 ;
28,946,984
727,218
29,674,202
199.483
^7616,538,97^
_ 1/vllar n
733,660,507
1PTAS.
/ , Odvi teo )
244
REPORT OF THE DIRECTOR OF THE MINT.
institutIonseon^D»oember,!!l<| 19n' was^M^ollows^^ Government
Gold and silver bullion in (J, mhu, and assail offices on Dir. 31, 191,.
liullion.
Oold .
Silver (cost K .
eer (cost)
'Total .
Value.
*183.088,870
3, 2)0. 107
186,318.977
The total metallic stock in the United States was as follows:
Metallic stock in the United States on Dec. SI, 191 1.
Oold .
Hull ion and coin.
— .... ^
Value.
Total .
*1.799, 627,84(1
735,890,014
2.535,518,400
States on December 31, 19 U , was as* follows :P(M m°ney ln the Ullited
Money.
Metallic:
Gold bullion .
Silver bullion . . . .
Gold coin . .
Silver dollars. .
Subsidiary silver coin'. ! ‘ .* ‘ ‘ ’ '
Total metallic .
Paper:
Legal-tender notes (old issue).
Legal-tender notes (act Julv 14 ikin'
National-bank notes/.. ... ’ W)
Total notes....
Gold certificates.
Silver cert ideates
Total certificates . . . ,
Total stock of money
In Treasury.
Outside of
Treasury.
Total.
*183,088.870
2, 230, 107
**••••••••••••..
list, 0RS, 870
O O'lfi ifi7
1,001,413.292
493, 775, 817
18, 155.428
*015, 125,084
74.503,550
147,225.712
sc, AlU, 10/
1,010,538,970
6ti8.279.307
105,381,140
1.098,603.514
838,854,946
2.535,518.400
9. 712,031
13,720
30,572,755
330, 908, 985
3.079,280
704,030,432
346, Oil, 010
3,003,000
740,603,187
40,298,500
1, 044, 078, (197
1.090.377,203
102,984,300
11,011,289
907, 979, 009
477,554,711
114,595.089
1,386,526,780
Imports and exports of the precious metals by the principal countries of the world , calendar year 1911.
[As officially reported.]
©
>
PRODUCTION OF THE PRECIOUS METALS.
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246
REPORT OP THE DIRECTOR OF THE MINT.
THE COURSE OF SILVER.
The following review of the London market for silver during the
calendar year 1911 is from the annual circular issued by Messrs
pixley & Abell, bullion brokers of London, England. }
1- uctuatums in quotations of spot silver during the past year have
was 2fiSer Smvler thr “ 1910i Tlle Wghest quotation ofthe yelr
"“S 26ld- on November 23, and the lowest 23f'-,l. on February 9
and 8fd.1n247.! ‘g““t ^ “ 191°' ^ inl909< «
O i?Qh? average Price Of spot silver for the year which has iust closer!
24 lid fn iqok 24¥on^ i1910; 23H<1- (the lowest on record) in 1909
25|a.;and thltoT 1 the qU°tati°n ™
market throughout the year which opened witfi Tsteady tone
Prices were maintained at about 25{d., China giving some support to
the market until about the middle of January whin an ou?& of
plague in Manchuria and northern China interfered with the export
.’fW b®ans a*Jd otber produce, whilst at the same time there was a
brisk business doing in imports in Shanghai and other China Torts
China became a seller on this market, which at once assumed a weak
one, and quotations declined steadily until February 9 when 2344d
haVblet EuW 7™ ^ The India^i balaam^ich
il i • .* g moderately, now began to support the market
import^duby on ^Iverlnto^ndia1^}1111^1111^6^ Wehension lest the
same time the ntlne " v, “i,a sho“ld “gam be increased. At the
the export of fef * „ Manchuria showed signs of abating, so that
, exPolt ol beans was resumed on a normal scale n,iT,„ (1ien
ecame a buyer, and quotations steadily improved to about* >4 M
satisfactory,*^ the monsoon^at th e^n^ the c,r0§Si in India would be
during July a sneUofdrv^H* thel°Pf11mg had been favorable, but
and as the prospect o7lndfa last*d for so™ weeks, set in,
improbable Indian and nthpr ?curipg good average crops became
market sagged until 2344d lators began to sell silver, and the
ered slightly, a"3' StaSd IndV'Z ^ ?h~T
break of the rebellion in • A , i a* and until the out-
the interior of cCacauVerf lL °Ct0l|er- A de.malld f"r dollars in
London and India which t.nIrcbases of silver to be made in
the Bombay mint,’ were sen on m ‘if C01,"ed int» Britisb dollars in
time there weresatisfactorv l.(f«n ^ b)pgk,ong- .At about the same
the prospects of the crons «n4 rainsm fn4ia,which greatly improved
with9thePdemMd iromcK?ftSThTed “11 fe.ar of a This
about which figure h „""f ‘*S ^ P™e of spot silver to 2Sd„ at
China a good buyer of sno? sill. tV' ^ar T 1,1 November. Finding
been large holders of silver II, - the Indian speculators, who have
delivery of their ™nt^ete a!teg °Ut a'6 year' th®» began to take
had on the market was shurplv 'feit"‘eTl"<'' thie g,rlp wWch they
is snarpiy telt. Those who had sold “short1
PRODUCTION OF THE PRECIOUS METALS.
247
found great difficulty in securing the silver necessary to cover their
contracts, and as the ‘‘Bear” account open in London was undoubt¬
edly very large, there was a further sharp rise and as high as 26£d.
was quoted for spot silver, the forward quotation at one time being
as much as fd. below that of spot. This tempting premium caused
some shipments from China to be made to this market, whilst
America sent increased supplies, silver, which in normal times finds
its way from San Francisco to China, being diverted to this country.
These larger supplies, whilst consumers as far as possible delayed
their purchases, served to relieve the strain, and the premium on spot
gradually decreased until the middle of December, when the snot
quotation declined to about 25}d., whilst forward was |d. to Ad-
lower. During these weeks China had been a moderate buyer of
forward silver, but its purchases were never very large. During the
third week of December the market sagged further, whilst at the
same time the Indian speculators stopped taking delivery of their
contracts with the result that the premium on spot silver rapidly
disappeared, and on the 20th of the month was again quoted below
forward as it had been throughout the year until the squeeze began in
November. At this date the quotation had fallen to 25Jd., supplies
of spot silver being more than ample, and the market remained at
about this figure to the end of the year, China continuing to buy
investment in India seems . to be
waning as the following figures, published by the mte h-
crpnee denartment of the Government of India, indicate. Aiiei
Sednetinj the amounts reexported from the amounts imported it
anDears that India has retained for home consumption during the
appears , at -u , , 44 poo 000 ounces against 56.400,000
year ending on October 31 last, 44^jihluuu o * 60 843,000
ounces during the year ending October SI, mu, ^ ^ ^
ounces during the year end in ^ increase in the import duty,
decreases are to be attributed much to larger investments m
which was made last year, a rer classes probably find it
gold, is difficult to determine The poorer bJt ^jv^ but the
impossible to invest then Ending fold a more convenient and
wealthier classes are P^^bl\^sto^kin Bombay which amounted
steadier holding than silver reduced to 13,400 bars
to 20,000 bars on JanU**y / °JU1^S J0 13,200 bars. The prolonged
on October 31, and ^Tn^he sunnier did great damage to the
period of dry weather during the goJd and prevented the
crops, but fortunately demand for silver rupees has been smal or
disaster of a famine. - Government has again made no pui-
than last year, and l the Indmn ^ not beobhged to
chases of silver, whilst it seems Pjn Burmah rice crop has yet to
buv tor coinage this seasoi , & * silver rupees in the treasury i
bcydealt with. Wd- »' the r“Pee equaling
now 251 crores (at the ex - n„9 4qo 000) at the end of 1-
£17,166*009) against 32 croces -f ,909 T^holdings oj
»-?d T3? * sISX*™ "hich at the end otl9 k.
t — — - -
248
REPORT OF THE DIRECTOR OF THE MINT4
bean crop, and during the closing months of the year the rebellion
which has spread over the whole of the Empire, have all been heavy
blows to the immediate prosperity of this country. Still China has
withstood these buffets of fate better than could have been expected
and has again been an important buyer, whilst if the negotiations
now in progress for the pobtical settlement of the country result in a
stable form of government resting on a popular basis, it is very
probable that the material prospects of the Empire will steadily
improve and that the awakening of China will be more rapid than
could have been deemed possible a few weeks since. A larger field
for the use of silver should be opened up, especially if the reform of
the currency which had been commenced, but which has been in
abeyance during the rebellion, should be energetically taken in hand
by the new Government, as is very probable. A large sum of money
will be required to carry through this reform of the currency and for
this and other purposes a loan of £10,000,000, of which £6,000,000
was to be devoted to currency reform in China, and £2,000,000 to
that of Manchuria, had been arranged for with a group of British,
French, German, and . American banks. The negotiations for this
loan will m all probability be renewed with the new Government as
soon as it is firmly established. The Peking Government had
during the year secured a stock of silver from various sources, which
had been coined into dollars as a commencement of the reform of the
cuireney as arranged with the above-mentioned foreign powers.
Ihese dollars, which are to be the basis of the new currency svstem
of the Empire, are to weigh 41U grains, with a fineness ‘of 0.900.
We understand that it had not been intended to issue these new
dollars, of which a few specimens have been received here, until a
much larger stock had been acquired and also until all the arrange¬
ments for the change had been completed, but the scarcity of cur¬
rency owing to the rebellion, has forced the Government to issue them
recently.
.crPoo^nAn^8 ,,sdv®r J)ars t° India and China have amounted to
£9,©o5,000 in value, being an increase of £1,165,000 over the amount
shipped last year. No ligures are yet available to show how this
S nln % dlvlted between the two countries. China also received
m2 ?*£? nnnnnna? FrT?c?, against £1,400.000 in 1910, whilst in
March $10,000,000 from Indo-Chma were sent to Shanghai.
mi n riVtcxr^ V*?* 'V^ *be -Bombay mint has coined a considerable
?mTpn inf°ff ^intlsh dolb\rs for use in Hongkong, but no official
SwTn t °f tbe. amount lias as yet been published. Stocks of bar
tilr * « SyCer 111 ganglia! show a remarkable increase during the
‘Shanghai +thei 1{*test fiSures available, there are now hi
valueof about £1300 OOff8 a?d M" bars with a sterling
Mexican d<Xr/ A • he-re 18 a1?0 a stock of nearly 9,000,000
I. w.^ f i dollars. At the begmnmg of the year the holdings were 123
1 p f ,tnels sycee and 6,370 bars, with a value of £2 30° 000
thf formTco/n^b1" andc Crimmy have ^ been important,
the latter £ having taken £ 1,752,647 from this market and
in loin l1’.725’33,5 H-alast £1 >110,000 and £1,257,780 respectively
y.b Shipments to France have been £940, 2S3 and to Brazil
£216,136 against £533,740 and £53,000 last year British silver
wSt AMc0a'h^kOf,£1’761;S6’ <'t-"Uidl * 1,069,652 hi gone to
• Africa, has been exported, against £1,406,500 in 1910.
PRODUCTION OF THE PRECIOUS METALS.
249
The world’s production of silver seems to be maintained though
no exact figures for a later year than 1909 are yet obtainable. In
that year the total production was 211,215.633 fine ounces, whilst in
1908 it was 203,236,861 fine ounces. The production of Canada,
which has of late years been steadily increasing, owing to the output
of the Cobalt mines, is estimated to amount this year to about
33,000,000 ounces. The production of Canada in i909 has been
officially stated as 27,878,590 fine ounces, whilst in 1910 it was
estimated to amount to nearly 31,000,000 fine ounces.
The total value of the imports of silver bars into this country
during the year amounts to £13,948,960, against £12,660,000 in
1910. In addition silver ores valued at £1,700,000 have been
imported, whilst last year the value of these ores was £1,862,333.
At the close of the Vear the stock of silver in London is estimated
* to amount to £1,900,000, whilst at the beginning of the year it was
about £2,000,000. which Mas probably considerably underestimated.
Highest, lowest, and average price of silver bullion and value of a fine ounce each month
during the calendar year 1911.
Month.
Highest.
Lowest.
Average
price per
ounce,
British
standard,
0.925 fine.
Equivalent
value of a
fine ounce
with
exchange
at par,
$4.8665.
Average
monthly
price at
New York
exchange
on London.
Equivalent
value of a
fine ounce
based on
average
monthly
price and
average
rate of
exchange.
Average
monthly
New York
price of
fine bar
silver.
1911.
Tannarv .
Pence.
Pence.
a
Pence.
24.8653
$0.54507
.52787
.53321
.54016
.53895
.53673
.53235
$4. 8576
4. 8634
$0.54407
.53754
$0. 54524
.52916
Fehmarv .
24§
24. 0807
24 3240
4.8623
.53274
.53444
\f q roll _ .........
24i
2H
4.8642
.53889
.54031
24fj
2 4*
24.6413
n 4 'OCA
4.8641
.53868
. o402S
2Ui
24*
24*
23tf
24
2H
24*
25
25*
24. d8ou
oi iCVI
4.8595
.53592
.53807
24$
Oi OCV|
4.8621
. 53267
.53330
2-t*
oi
. 5279S
4.8604
.52732
. 52842
24*
Oi 90Q1
.53069
4.8626
.53023
.53930
. OO l-o
•iAAA
- . .
24*
.54024
4. 8659
enqcr
OCjj IcUlVTvl ..•••••*
Z- i . OrOl'
.56238
4.8687
.56264
.55532
• OtvOO
t rci e;
November .
25H
Z/O-
25.3541
.55579
4.S625
• OOOIO
December .
24.6013
.53928
4.8627
.53961
.54002
250
REPORT OF THE DIRECTOR OF THE MINT
WORLD’S PRODUCTION.
The following table shows, by calendar years,
value of gold and silver in the world since 1860:
the production and
Production of gold and silver in the world since 1860.
(The annual production of 1860 to 1872 is obtained from .5-year period estimates commled hv nr ih„i >,
Soctbeer. Since 1872 the estimates are those of the Burciu offhe S ] y d°‘Ph
Calendar years.
Gold.
Silver.
Fine ounces.
Value.
Fine ounces.
Commercial
value.
I860 .
« AQa ffiio
$134,083,000
122,989,000
122,989.000
122,989, 000
122,989,000
122,989,000
129,614,000
129,614,000
129,614.000
129,614,000
129,614,000
115,577,000
115,577,000
29,095,42*
1861 .
5 Q4Q **£9
* $39,337,000
1862 .
5 Q4Q *i£9
35, 401 , 9/2
• 46,191,000
1863 .
K Q4Q
35, 401 , 972
35,401,972
35,401,972
47,651,000
1864 .
5 Q4Q W>
• 47,616,000
1865 .
K Q4Q
47,616,000
I860 .
Of \7*±Uy OOw
#; 970 fl£H
35, 401 ,9/2
47,368,000
1867 .
6 970 nfiil
43, Ool , 583
57,646,000
1868 .
U| •* 4 VJy UOU
O 970 rifi/t
43, Oo 1 , 583
57,173,000
1869 .
vj &(\j) UoO
970 HSA
43, 051 , 583
57,086,000
1870 .
Uj dmt i \Jy Uot)
97 n rtfiA
43, 051 , 583
57,043,000
1871 .
O, 4fU, UoO
5 *;qi 014
43, Ool , 583
57,173,000
1872 .
Oy O Jl y Ul*t
63,317,014
83,958,000
Oy 0\jL y Ul*t
63, 317, 014
83,705,000
Total .
78,766,630
1,628,252,000
547,997,231
729,563,000
1873 .
1874 . .
4,653,675
4 *?QO 091
96, 200,000
90,750,000
97,500,000
103,700,000
113.947.200
119,092,800
108,778,800
■ 106, 436, 800
103,023,100
101.996.600
95,392,000
101.729.600
108.435.600
10(i, 163,900
105. 774. 900
110. 196.900
123.489.200
118.848.700
130,650,000
146.651.500
157.494. 500
181.175.600
198, 763, <>00
202. 251. 600
236,073,700
286.879.700
306,724,100
254,576,300
260. 992. 900
296. 737. 600
327. 702. 700
347.377.200
380.288.700
402,503,000
412.966.600
442.476.900
454,059, 100
63,267, 187
82,120,800
1875 . .
OtrU, Uoi
4 710 etA**
55, 300, / 81
70,674,400
1876 . .
*** 1 AO, 00*5
5 HI A Jfifi
62,261,719
77,578, 100
1877 .
Ot UJLO, 4<V5
e: ci 9 |Q/;
67, 753, 125
78,322,600
1878 . .
Of oiz, lyti
ft 7A1 1 1 4
62, 679,916
75,278,600
1879 . .
Of / 01 , 1 1 *T
ft 909 174
73,385,451
84,540,000
1880 .
^ 1 4£ fiflfl
74,383,495
83,532, 700
1881 . .
Of 140, ©5U
4 Q£3 749
74, 795, 273
85,640,600
1882 . .
4, 3cW, i 44
4 Q94 ACA
79, 020, 872
89,925, 700
1883 .
4, y<54, UoO
4014 ft£Q
86,472,091
‘ 98,232,300
1884 . .
4, 014, Ofto
4 Q,_)1 1AQ
89,175,023
98,984,300
1885 . .
4 , , loy
5,245,572
S I'l'i <V7Q
81,567,801
90, 785,000
1886 .
91 , 609, 959
97,518,800
1887 .
Of 1.00 f 0/ y
5 lift fifii
93, 297 , 290
92,793,500
1888 .
Of 1 10, O01
i; oorj 77c
96, 123, 586
108,827,606
94,031,000
1889 .
0, ooU, f f 0
5 Q79 700
102, 185,900
1890 .
Of Vi Of 1 yu
5 740 90/;
120,213,611
112,414, 100
1891 .
Of 1 4 y, oUu
1; 990 104
126, 095, 062
131,937,000
1892 . .
0, 0 wU , iy4
7 004 oiu:
137,170,919
135,500,200
1893 .
1 , uy4, JOu
7 01 £ £1 1
153,151,762
133, 404, 400
1894 .
1 f Olo, ol 1
£ 704 900
165, 472, 621
129,119,900
1895 . .
<>, 1 04, «50-
0 HI ft 1 no
164,610,394
104,493,000
1896 .
y, 010, iyu
Q 7M Q1 4
167,500,960
109,545,600
1897 . .
y, i w, y 1 4
1 1 400 one
157,061,370
105,859,300
1898 . .
11, 44U, UOo
1 9 £77 Cn«
160,421,082
96,252,700
1899 . .
lo, Of f , QUO
1 4 £97 77^
169,055,253
99, 742,600
1900 .
1 4, oaf , f f 0
19 91 K 1QC
168, 337,453
101,002,600
1901 . .
1**, ala, loo
19 noc C07
173,591,364
107,626,400
1902 .
1 **, 0 .-O, Ot.i
1 4 9*^4
173,011,283
103,806,700
1903 . .
1 4, «504, OoU
1 *» £*t9 090
162, 763, 483
86,264,700
1904 . .
10, 00*5, OwU
1 ft £0 4
167,689,322
90,552,200
1905 . .
IO, oU4, a t Z
IQ OQf* A Cl
164, 195,266
95,233,300
1906 . .
io, oyO, 4ol
1 Q 471 non
172,317,688
105,113,700
1907 . .
1 y, 4/ 1, Uou
19,977,260
21,422,244
21,905,111
99 099 1 70
1 65,054, 497
111,721,100
1908 . .
184, 206,984
121,577,100
1909 . .
203,131,404
108,655,100
1910 . .
212,149,023
110,364,400
1911 .
*-*5, \JMf l7o
99 997 noo
45o, 259, 800
461,542,100
221,707,622
119, 722,600
061 } UOO
225,338,194
121,682,300
Total .
399,333,821
8,254,603,600
5, 174, 167,792
3,943,735,300
Grand total .
478, 100, 451
9,882,855,600
6,722,165,023
4,673, 298,300
PRODUCTION OF THE PRECIOUS METALS.
WORLD’S COINAGE.
251
Id the appendix to the report of the director on the operations of
e mint service will be found a table revised from the latest informa-
worl d *6 firing ,^xlub}tlnf the comages of the various countries of the
w°rl£ during the calendar years 1909, 1910, and 1911.
V\ hue the figures in the following table represent, as accurately as
me bureau has been able to ascertain, the total value of and the fine
ounces consumed in the gold and silver coinage of the world since
1873, tli cy do not accurately represent the value of the coinage from
new material alone, but include the value of the recoinage of foreign
and domestic coins and that derived from old material, plate, jew¬
elry, etc., melted and used in coinage. Many foreign Governments
in their reports to the bureau have failed to separate the values of the
coinage derived from these various sources :
Coinage of gold and silver of the mints of the world for the calendar years since 18HJ.
Calendar years.
Gold.
Silver.
Fine ounces.
Value.
Fine ounces.
Coining value.
1873 .
12, 462,890
$257, 630,802
101,741,421
79,610,875
$131,544, 464
1874 .
6,568, 279
135,778,387
195,987,428
102, 931, 232
1875 .
9,480,892
92, 747,118
119, 915, 467
1876 .
10,309,045
213,119, 278
9/ , 899, o2o
126,577, 164
114,359,332
161,191,913
104,8S8,313
84,611,974
108,010,086
110,785,934
i no on/; 7ns
1877 .
9, 753, 196
201,616, 466
88, 449, 796
. .
9,113,202
4,390,167
188,386,611
124,671,870
81,124.555
65,442,074
83,539,051
85, 685, 996
0 4 f 41 no 4
. .
90, 752, 811
1880 .
7,242,951
149, 725,081
1881 .
7,111,864
14/ , 015, 275
1882 .
4,822,851
99, 697, 170
1883 .
1884 .
5,071, 8S2
4,810,061
104, 845, 114
99,432,795
95,757,582
94,642,070
124,992,465
134, 82S, 855
i />r> /\ai cm
84,541,904
74,120, 127
98,044,475
96, 566, 844
ion qcc
lUff, oUn, ikjo
95,832,084
1% 7fi4
1885 .
. .
4,632,273
4,578,310
l.il, / Vl
124,854,101
163,411,397
1 CC7 .
6,046,510
0,522,346
lZOf Ofto, ou-
irti mn
134^922,344
139,362,595
152,293,144
138,294,367
155,517,347
1 cce .
lln, i)01, ynn.)
107 7RS 256
1 CCQ .
8, 170,611
168,901,519
1 i n 0 4 4 fll% £
lUi , / Oo,
117 7«q 228
7,219,725
149, J44, lK>o
i in a 1 99
11 1,4 Off,
106 962 049
5, 782, 463
1 1J, 1^—
170 479 104
IVA'i y v
120, 282, 947
8,343,387
1 i 4/0, 1—4
009 aoc\ 7
106, 697, 7S3
137,952,690
11,243,342
1 1 , 025, 680
4— U, Ol 4
907 QOI 0T2
87,472,523
113,095,788
Zm 1 , %7— I ,
001 act 438
98, 128, 832
126,873,642
11. 178. 855
9,470,039
21,174,850
19, 131,244
22, 548, 101
17, 170,053
12,001,537
10,602,098
11,634,100
22,031,285
11,898,037
17,721,058
19,921,014
15,828,573
15,153,110
22,004,542
18,002, 444
— Ol , / , 300
195,899,517
437,722,992
395,477,905
466,110,614
354, 936, 497
248,093,787
220, 405, 125
240,499,547
455, 427, 0S5
245,954,257
366,326, 788
411,803,902
327,205,649
313,242,714
454,874,248
372,143,555
123,394,239
129,775,082
115,461,020
128,566,167
143,362,948
107,439,666
149,826, 725
161,159,508
136,518, 406
134,062,314
120,339,501
171,561,490
151,352,824
87,728,951
78, 786,842
117,237,S38
159,540,027
167,790,006
149,2S2,936
166, 226, 964
185,358,156
13S, 91 1.891
193,715,362
211,795,829
1 76, 508, 646
173,333,093
155,590,466
221,816,876
195,688,499
113,427,331
108,915,627
148,156.282
. . .
. . .
1908 . .
. . .
. .
1911 . ■
442, 240,139
9, 141,915,089
4,286,623,272
5,549,354,648
PRODUCTION OF GOLD AND SILVER IN FOREIGN COUNTRIES.
NORTH AMERICA.
British North America.
According to the figures furnished this bureau by the statistical
department of mines, Ottawa, Canada, the production of gold and
silver in British North America in 1911, by Provinces, was as follows:
Provinces.
Nova Scotia .
Quebec .
Ontario .
Alberta .
British Columbia
Yukon .
Total .
1911.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Commercial
value.
7,781
613
2,062
10
238,496
224,197
$160,847
12,672
42,625
207
4,930, 150
4,634,563
18,435
30,540,754
$9,955
16.492,007
1,887,147
112,708
1,019.059
60.862
473,159
9,781,064
32,559,044
17,581,883
Smelter products shipped outside of Canada for refining were:
Blister copper carrying gold and silver values 10,710 tons in 1911 as
compared with 13,918 tons in 1910; copper matte carrying gold and
silver values 11,320 tons in 1911 as against 11,519 tons in 1910;
Bessemer nickel copper matte carrying small gold and silver values
as well as metals of the platinum group 32,607 tons in 1911 as com¬
pared with 35,033 tons in 1910.
GOLD.
production in 1911 is estimated as approximately
$9 , / o~ ,096, which, compared with the 1910 production, $10,205,835,
shows a falling off of $443,739. The Yukon placer production in
1.M1 is estimated at $4,580,000 as against $4,550,000 in 1910, the
<irp?!rr0nI)OfISti?n wluc!1 r°yaltY was paid during the calendar year,
according to the records of the Interior Department, being 277,430.97
? l?11 atK 275, 472.51 ounces in 1910. The British Colum-
2pr~on V1 I19,11 was S4’989’524- of which the placer produc-
Jtr^tlmated Y, tl,'v Pr°yuicial mineralogist, was $468,000,
ued at $4?52T,524 and buUl°* °btamed from ores being val‘
252
PRODUCTION OF THE PRECIOUS METALS. 253
*:“:*?* "> estira&t«d at I142,000, all from
™s»“d .%ssfaark*s.*1=s xzsir&a
szsztzsnsssgi. K~ - *** "
weTeevduPed atfe^T8 dUSt> nUggetS’ g°U fa ore- etc ’ ” 1011
Yalu0eofl941233rted 1911 in barS’ blocks’ inSots> etc‘> to the
SILVER.
The silver production of Canada, which has been very rapidly
increasing during the past few years, will probably show but little
change in 1911.
Returns so far received appear to indicate a falling off of about
128,516 ounces. The total production of the year is estimated at
32,740,748 ounces valued at $17,452,128, of which 30,761,690 ounces
were from Ontario, 1,910,323 ounces from British Columbia, 50,300
ounces from the Yukon, and 18,435 ounces from Quebec.
The production in Ontario was slightly greater than that of the
previous year and in British Columbia a falling off of nearly half a
million ounces is shown.
For British Columbia the figures represent the recovery as silver
bullion or silver contained in smelter products, while for Ontario the
figures represent the total silver content of ore and concentrates
shipped less 5 per cent allowed for smelter losses, together with
bullion shipments. ... n u u a-
The total shipments of ore and concentrates from the Cobalt dis¬
trict and adjacent mines were about 16,234 tons, containing approxi¬
mately 28 817,198 ounces in addition to which 3,334,052 ounces were
shinned as bullion. The average silver content of ore and concen-
S shaped was thus about 1,744 ounces or $929 62 per ton, as
comoaredwith an average of 867 ounces in 1910 and 840 ounces in
1909 The 1911 shipments were chiefly high-grade ^ore ^averaging
over 3 400 ounces and concentrates averaging over 850 ounces.
ov® , , • iQiA wprp 28 864 tons of ore containing 23,79/ ,111
ThG ShJP«flver S ail average of 830 ounces per ton; 6,943 tons of
ounces of sirv * ounces or an average of 1,024
C0"?i!t^„C0^ bullion containing 1,003,1 11 fine 1 ounces.
Quantities
Me, and values of gold and in
British Columbia in* 1909 , 1910 ,
Classification.
1909
Ounces.
Value.
$477,000
4,294,090
1,239,270
UOIU • •
Silver .
2,532^742
1910
Ounces.
207. 701
2,450.241
Value.
$540,000
5,533,380
1,245.016
1911
Ounces.
228.617
1,892,364
Value.
$426,000
4,725.513
958.293
76347° — 13 - 17
254
REPORT OF THE DIRECTOR OF THE MINT.
Mexico.
The United States consul general at Mexico City has furnished this
bureau the following figures relating to the gold and silver production
of that country for the year 1911 : Gold, 37,470 kilograms, valued at
$49,959,946; silver, 2,461,745 kilograms, valued at $85,697,827. The
values are in Mexican dollars, which reduced to United States money
would be, gold, $24,880,053, representing 1,203,573 fine ounces;
silver, $42,677,518, equivalent to 79,032,440 fine ounces.
Cuba.
The American minister at Ilabana reports that the gold production
of Cuba for 1911 was estimated at $20,000, which represents 967 fine
qunces.
Central American States.
• The hroduc.tion gold and silver in the Central American States
is usually arrived at by assuming that their export figures represent
their product. The following table is compiled, for the most part,
from United States import figures: 1
States.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Value.
Costa Rica. .
(riiatpmal'i .
44,039
997
17,548
37,204
3,944
58,826
$910,370
20,600
362,750
769, 086
81,533
1,216,041
33,735
$18,217
u uaiciiialcl .
Honduras . .
Nicaragua . .
Panama . .
i, 171, 439
1,846
3,440
1,287
632, 5-7
997
1,858
695
Salvador. . . .
Total
- - -J
162,558
3,360,380
1,211,747
654,344
Costa Rica.
of Costo R^5uri^gSlU9n vZedKlO ?lnhe P1?duCtion
duction at *18,217SUni^Stati cui?SP’ T?„ „ ll*16 pr°'
sents 44,039 fine ounces and the stlvTsl ,735 fine ogncl™1"6 r6pr°'
oXpoT2T,dne^fl9n1CS|1hVeet0nly a™°lUnt °f g°M and sdver buUion
th.
all taken from deep ?his Was nearl*y
silver mined can be a^rovf^tS ProPortion of gold and
this consulate by the faro-est mir i ^Ion) the information furnished
Abangarez gold fields of rwt R ^ oot^J'prise in the country, the
that the
PRODUCTION OF THE PRECIOUS METALS.
255
Item.
Gold.
Silver.
Kilograms.
Value.
Kilograms.
Value.
From deep mines .
1,369.89
i $910, 369. 99
1,059.06
>$18,216.55
1 United States currency.
Guatemala.
The American consul general at Guatemala city reports that the
gold product from placer mining in Guatemala in 1911 was very
small. The import figures show that the United States received from
Guatemala $20,600 worth of gold, which represents 996.525 fine
ounces.
Honduras.
The American consul at Tegucigalpa reports that there were pro¬
duced in Honduras 7,944 ounces of gold and 1,433 123 ounces of
silver He does not give the fineness of these ounces but states that
this was not the total production. This is the production of the
New York & Honduras Rosario Mining Co., and the only statistics
Available This is the only mine working on a large scale.
The United States imported from Honduras during the '
gold in bullion and ore Valued at *362,760 ^
ounces, and silver ore and bullion valued at $632,5/7, whicH repre
sents 1,171,439 fine ounces.
« Arminius T. Haeberle, T.^lpa. <>— “ »•< T„d. E.po«. Nov. »,
“ The most noteworthy accomplishmenUn the “““/dto'Sew
Honduras during 1911 was the erectio f . d with the most
York & Honduras ' 'or fom batteries of five 1,800-
modem machinery, a mtll of -0 t p g ^ of ore were treated.
pound stamps. Dunn si&er and 8,103 ounces of gold.
“A £Oia mine ««« vr Al + hrmoli this mine, called i auimuya,
■nartment of Choluteco. Although tms mm. ^ promising
Honduras to the unite
1911:
Metal.
Gold bullion .
Silver:
Coined . .
Bars . . . ■
United
States.
Germany.
.
*12,868
2,660
oko 094
*25,884
. . ’ .
852, 224
.
146,400
1,979
3,020
. 250
256
REPORT OF THE DIRECTOR OF THE MINT.
The following figures show the value of the p;old and silver invoiced
for shipment to the United States from the consular agencv at
Amapala during the calendar years 1910 and 1911:
MetaK
1910 1911
Gold bullion .
*30,896 S3. 275
4.402 2.174
7 216
Silver bullion .
Silver coin .
Gold concentrates .
« . A1U ..........
4, 848 101
Silver concentrates .
Conner concentrates .
- - -
38S 002
199. 7SS 154.474
627.504 602.177
Go»a evanide precipitates .
Silver evanide precipitates .
Nicaragua.
As no returns have been received from the American minister at
Nicaragua regarding the product of gold and silver in that State for
1911, the figures of the United States imports from that State are
taken to represent the product, as follows:
Classification.
Gold.
Silver.
In ore and base bullion .
In refined bullion .
sqm:
.
Total .
118,826
"CQ 1WC
997
*
The equivalent of the
1,846 fine ounces.
gold is 37.204 fine
Panama.
ounces, and the silver
The American consul general at Panama reports that Panama pro¬
duced during 1911, $81,533 worth of gold; this represents 3.944 fine
ounces. No silver is reported, but the United States imported in ore
and bullion $1,858 worth of silver, representing 3,440 fine ounces.
The Darien Gold Mining Co. is the only mine operating in the country.
Salvador.
The American consul general at San Salvador reports that gold and
silver production for 1911 was, gold 700,000, and silver 800,000, Sal¬
vador pesos: he also reports that these amounts were exported to the
Dinted States. According to the figures furnished this bureau bv
t u nltfc ^ tales Bureau of Statistics, Department of Commerce and
Vdue °f 1 je f°ld.,lmPorted was $1,216,041, equivalent to
o . _ -6 hne ounces, and the silver $695, representing 1,287 fine ounces.
SOUTH AMERICA.
Argentina.
consul general at Buenos Aires reports the gold
thTlilvefafWo s^f ^TR19^ been Talued at *48.484, and
theUnTSd • T5eflmttd States lrnport figures show that
bin fr°m Ar^nJina $288,975 in gold ore and
13 9~Q fine f ^ °re and bullion; these values represent
13,9. S fane ounces for the gold and 203,111 fine ounces for the silver.
PRODUCTION OF THE PRECIOUS METALS.
Bolivia and Chile.
257
In estimating the product of gold and silver in Bolivia and Chile
by this bureau, it has been the custom to accept the import figures
from those countries by other countries plus their coinages as the
probable production.
Bolivia is compelled to export thiough some port of Peru or Chile
and consequently does not get credit for her expo' ts, thus making it
almost impossible to separate Bolivia’s product from Chile’s.
The following table gives the value of gold and silver bullion and
ore imported by other countries from Bolivia and Chile, during the
calendar year 1911 :
Country.
Gold.
Silver.
$36,402
201,687
$1,243,661
1,176,359
238,089
2,420,020
The above values represent for the gold 1 1,517 fine ounces and for
tl^ silver 4 481,518 fine’ounces. .. Q C„Q
* ad u Uoinow of Chile was 340,735 pesos anti the silvei 373,8/3
The Whf of the sold coinage in United States money is
S?94S368 representing 6 016 fine ounces, and the actual quantity of
SSsuTed in tlf silver coinage was »g> to ^alent ^
17T5h3e3 the etrofedve^plus the quantity con¬
sumed in coinage was 4,555,043 fine ounces.
Brazil.
sil^r^^rfor ttffof lOlTblittted The ££&
silver bars as follows. miheis and silver in bars \ alued
Gold in bars valued at 7,022,904
for the silver.
. rm6 ra Brazil from 1906 to 1911.
Production of Goi.
lFrom Bulletin of the Pan American Union, March, Ml-
, <r()pi in Brazil during the last six >ears
The production of ^
follows:
was as
. .
. .
. .
. .
$2,463,275
2,047,490
2,256,66a
2,326,045
1910 . *V‘"
1911 (9 months)*-*-
• $1,972,^5
1,769,020
Total- .
12, S35, 3S0
258
REPORT OP THE DIRECTOR OP THE MINT.
Colombia.
No official information has been received from Colombia regarding
the production of gold and silver during 1911. The exports of ore
and bullion from Colombia were as follows:
Country.
Gold.
Silver.
United States .
Great Britain .
vlj dcxJj
$26, 568
414,845
Germany .
1 , OO X , 009
27,249
Total...*. .
Q 1 A7
441,413
o, lo/ ,
The export figures are accepted and used temporarilv as the pro¬
duction for Colombia. The values represent 153,241 fine ounces for
gold and 817,431 fine ounces for the silver.
Ecuador.
The chaigS d’affaires at Quito leports that the value of the gold
produced during the year 1911 was $270,781, which represents 13,389
line ounces. As no information has been received regarding the silver
product the figures for 1909 are repeated for 1911, viz, 22,642 fine
ounces of the commercial value of $12,227.
The Guianas.
BRITISH GUIANA.
The American consul at Georgetown states that the value of the
f? i inrRt UCtl0n °f Bntlsh Guiana for 19H was $891,966, representing
43,149 fine ounces. > > v °
DUTCH GUIANA.
C?ns-ul at,Georgetown rePorts tile value of the gold
Cattle Gmaim f°r 1911 WaS $523’421> representing 257320
FRENCH GUIANA.
T!ie American consul general at Paris reports the value of the »old
represent s°l 07^3 5 efi>i p' ° 1 ° °f F^,nch ?u!^a at $2,229,150, wLh
epresents 10^,835 line ounces. These figures are repeated for 1911.
Peru.
f or^lO 1 C)ln was'1 ox ^ xo'-f °l 'f ^ reports that the gold production
Tl^Talue^r^nf»lJ^oSa“^TV-'JuJei at £93>«s7 (Peruvian),
to 22 finn ^ ^ States currency eouivalent
valuta' at £7SS Sf r'p Th® “dyer product weighed 21 7,2% Xgrams,
value representing (i r'lMviftfl "inch equals $3,578,546 commercial
for l9i iq g °’626'930 ft>e ounces. This product is repeate.1
PRODUCTION OP THE PRECIOUS METALS. 259
Production of Gold and Silver in Peru During the Year 1910.
the year 1910 SeSolfngl!L°: during
Gold metal in bars, nuggets, dust, etc ... Kilograms.
Gold contained in bars of red coDDer . 277.948
Gold contained in sulphides from lixiviation . 377.433
Gold contained in crude copper . . . 14, 093
G old contained in ore exported in gross ... * . J?* ¥?
G old contained in unrefined silver ingots . . . //^.V.V.V.V.V.V.^ 7.7 . j~
Total.
715.898
The value of this product was 93,687 Peruvian pounds.
The refined weight of the silver produced by the mineral industry of Peru during
the year 1910 was 217,296 kilograms, distributed thus:
Kilograms.
Silver metal in bars and ingots . 9 ^
Silver contained in bars of red copper . 66^516
Silver contained in crude copper . . 91 , 589
Silver contained in sulphides from lixiviation . 15, 987
Silver contained in bars of lead . 2, 908
Silver contained in ores exported in gross . 30, 324
Silver contained in copper matte . 75
Total . 217.296
The value of this production was 735,343 Peruvian pounds.
Lima, November 23, 1911.
S. D.
Jose Bravo.
A seal of the office of the director of the “Cuerpo de Ingenieros de Minas” (corps of
mining engineers).
This is a true copy:
Althaus,
h The Chief Clerk of Foreign Delations.
Uruguay.
The American consul at Montevideo reports that the gold product
for 1911 was valued at $68,320. The Uruguayan dollar or peso is
valued in United States currency at $1,034, which gives the value of
the product in United States currency at $70,644, representing
3,422 fine ounces.
Venezuela.
The imports of gold and silver bullion and ore from Venezuela into
Great bSu and the United States in 1911 were as follows:
Countries.
Gold.
Silver.
.
$340,118
24,708
$235,928
United States .
Total . . . . . . . . —
364,826
235,928
orwl fnr flip
These values represent for tne gom
silver 436,903 fine ounces.
roi D DISCOVERIES IN VENEZUELA.
, , Rnlivar Daily Consular and Trade Reports, May fo. 1912.]
(From Consular A*cnt W. Henderson, Clu a ’ made in the interior of
Some very rich discoveries of gold mi not far from the
. . " - “
260
REPORT OF THE DIRECTOR OF THE MINT.
up to now (Apr. 15) this mine has yielded over 35,000 ounces of fine
gold. During the month of March more than 6,000 ounces arrived at
Ciudad Bolivar, and in the first two weeks of April the arrivals
amounted to more than that, and the gold is coming in all the time
Near the Caroni River and also in the Paragua district gold has been
taken out, but not in such large quantities. The extremely low level
of the water in the Caroni River caused a small island to appear in its
course, and from this some gold was taken; but the river is now rising
an£, , covered the island, so that work there has necessarily ceased*
I he following statement appeared in a letter from a merchant in
the mtenor, m which he writes about the Salva la Patria
There are two barrancas (shafts) dug by a group, which are simple pools of gold. I
8ew-fught Fieues of mor® than 40 ounces each> a11 containing more gold than
a \,h SU(:h1 barrancas the greatest disorder prevails; outside people' , get in at
ancLhave take? out “®re g°ld than the owners themselves, who have had to
fence up the approaches and have an armed guard at night.
Of course the Government will soon restore order, and one does not
now hear of any disturbance. There are some 2,000 men digging or
exp oruig around the Salva la Patria, and of course all are not success-
I understand, the gold is found in pockets or chim-
ne>s 50 to 100 feet down, and not in true veins
Permits to work may be granted by the jefe civil (mayor) of the
distnct; afterwards the titles must be taken out in Caracas from the
V1, Government. The maximum permit is for 200 hectares
494.2 acres and for a term of 90 years.
VS a u eU“^own fac1 tllat the interior of Venezuela, even where
nml tb*i . en discovered, has up to now only been scratched over,
t- 4 dl7p,1 Pai’t has not been explored, so these discoveries must
L t g0,y ^ow eemnig in is of a very fine grade, and as it
hnost a free gold there is very little expense in getting it out; but
a u ^LeC?r arisinnrt11 r°U S 1 hculties and high freight rates, due to inade-
to make both ^ends°meet ’ “ qUartZ mi"e1laS “ ha,d time trying
„,Tf!5 companies now working are the Gold Fields of Venezuela,
briiS in “1; "hlch, hns n?1 P“d any dividends, but which is
and a Krennh ci y and ?ccurmg surrounding mines at low prices;
Med between & “ .°l>e,.unS La Evperiencia mine, situ-
eitl r . K ,. ( u i“° a”d Guasipati, with shafts and gaUeries, and
expects to begin working in a few months.
EUROPE.
Austria-Hungary.
uc^f^Sr,0?^rral at Vrn,a reP°rts thot the gold prod-
equ i v alen M IT $1 60 ,22 6 repfShS ~ ■ , u *
product was 49 t .:i ’ * ebtnlmb 7,751 fine ounces, and the silver
representing 1,137,368 fine ounces^1 ^ 3,025,512 crowns ($614,179),
tion of1 Hungary0 jcm information relative to the produc-
silver! «16>5a8fare 121““ f°r 191°- S°>d. »,0P24,89S ;
production or the eeecious metals 261
been as fallows: °f b°th Austna antl Hungary are estimated to have
Country.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Value.
Austria . . .
Hungary . . .
Total . . .
7,751
97,954
*160,226
2, 024,898
1,137,368
401,404
8614,179
216,758
105,705
2, 185, 121
1,538,772
830,937
France.
, - The American consul general at Paris reports that the gold nroduc-
«i0?n°/rKanCe for 19?° ™ ValTl at 8,845,000 francs, equivalent to
* »707,085, representing 82,580 fine ounces. The silver product was
valued at 1,995,000 francs, equivalent in United States money to
$385,035, representing 713,028 fine ounces.
Germany.
No official information has been received from Germany relative to
the production of the precious metals during 1911. The official
figures for 1910 are repeated for 1911, viz, 3,042 fine ounces of gold
of a value of $62,898, and 5,597,026 ounces of silver of the commercial
value of $3,022,404.
Great Britain.
The American ambassador at London reports that the gold product
of Great Britain for 1910 was valued at £8,131, which is equivalent to
$39,570, representing 1,914 fine ounces. The silver product was
valued at £15,132, equivalent to $73,640, representing 136,370 fine
ounces. . .
In the absence of any information relating to the. production for
1911 the 1910 figures are repeated.
Greece.
According to the Statistique de ^Industrie Minerale Paris ,1910,
the silver product of Greece for the year 1910 was valued at 2,4/0,000
francs, equal to $476,710, representing 882,796 hue ounces. Hie
figures are repeated for 1911.
Italy.
The American -bassy at Borne
for 1911 was valued at valued at 2 793,945 lire >539,231),
ounces. The sliver piodu , > - colonial production (Colony
^ at 60P000 lire (*.1,580,,
re^r^Xct6°ofPy S ^ colony ^^^98^
SMi oYfco^rvJul of $539,231.
262
REPORT OP THE DIRECTOR OP THE MINT.
MINING INDUSTRY IN ITALY IN 1911. #
[By Charles Will Wright, in the Mining and Scientific Press, San Francisco, Jan. 6, 1912.]
*******
LEAD AND ZINC.
Nearly all the mines producing lead also produce a considerable
amount of zinc and conversely. All of the lead ores contain from 100
to 1,000 grams of silver per ton. The total lead output in 1910 was
36,540 tons, containing 80 per cent lead and 400 grams silver, and
valued at 145 lire per ton, or a total value of 5,303,855 lire. This
shows a decrease of 1,405 tons and 453,036 lire from that of 1909.
The decrease was attributed to the unfavorable market price for lead.
In 1911, on the other hand, the market has been more favorable, ami
exploration for lead ore has been energetically carried on at many
of the mines, and the lead output materially increased. The lead ores
consist of about two-thirds galena and one-third carbonate ore.
*******
GOLD AND SILVER.
These metals are produced only in relatively small quantities in
Italy. The total value of the gold output was but 58,730 lire, ami
this was derived principally from the Valbianca mine in the Province
of Turin. The ore is pyritiferous quartz. The only productive silver
mine in Italy is the Giovanni Bonn mine, near Monte Narba in Sar¬
dinia, and from this but 32 tons were produced in 1910, carrying
1.53 per cent silver, and valued at 42,400 lire, a decrease of 25,400
lire from 1909. The main silver production is derived from the lead
mines already mentioned. No new discoveries of gold or silver
deposits were made in 191 1. * * *
Norway.
The American consul general’s office at Christiania reports the
silver product for the fiscal year 1910-11 to have been 9,195 kilo¬
grams, valued at 588,508.84 crowns, equivalent to S157,720, repre¬
senting 292,075 fine ounces.
Portugal.
4 lie American minister at Lisbon reports that the production of
?t • in, l911 was P907 kilograms, valued at $673 per kilogram. The
United States value of a kilogram, $664.60, gives the product a valu-
i •?“,386» rep£??ntm£ } 15 fine °unces. The silver product was
3,667 kilograms. Tins weight represents 117,894 fine ounces, of a
commercial value of $63,663.
Kussia.
nr Jr6?^^ofeuCan- ^bassador at St. Petersburg reports that the gold
product of Russia for 1911 was 2,950.5 poods, valued at 62 423,801
rubles equivalent to 132,148,258, representing 1,555,172 fine’ ounces,
rin silver product is stated to have been 906 poods, equivalent to
PRODUCTION OF THE PRECIOUS METALS. 263
rhe gold product of Finland for the year 1910 was 5 kilograms or
added to the Russian pSucI
of S3-, 148, -58 equals $32,151,586, representing 1,555,333 line ounces.
THE RUSSIAN EMPIRE IN 1911.
[By John Power Hutchins, M. E., in the Engineering and Mining Journal, New York, Jan. C, 1912.]
The year 1911 was one of general progress in preciousrmetals
mining in the Russian Empire. Particularly was the mining of plati¬
num stimulated and aided by the high price, which averaged about
twice as much as for gold.
TOTAL GOLD PRODUCTION EXCEEDS THAT OF SOUTH AFRICA.
In total gold production Russia and Siberia rank third, being sur¬
passed by the United States and Australasia, but still remaining
ahead of South Africa. This may surprise many, but when one
pauses to remember the huge size of Russia and Siberia, and to note
the wide distribution of gold, one may well be surprised not that they
have produced so much, but rather that they have pi o< u< < < y()1y
The gold producing region in the Urals is
easterly across Siberia are scattered gold deposi >s , through the
about 4,000 miles, while a journey from
Altai Mountains and southern Sibeua, them _ >JJme ap 0f
down the Amur, thence overland to ^ about 6^00 miles
which would be in gold-producing rey1.V series in an east and
long. Tliis is the greatest length of of the
west direction in the world, and is on ■ contjnuing as they do from
north and south deposits of the Con > ^ South America, to the
Tierra del Fuego, the southernmost pait ot
Arctic Ocean. * * * *
Russia and Siberia are the ndnedly dredging, by
this metal is found in the Urals, ^ . of ^ metal has been very
open cutting, and T>y ‘li’1 ] 1 in» * - . i ated an active search as well s, _
Were the reign oftbe and it is not ^1^1
interested in platinum m e 0f tilc foreign comp v01Lh and South
It is worth noting that some giberia are scou^ Nortt. an for
platinum mining mR“f foetal. The estimated proa
America for deposits o dredges in Russia
1911 is 400,000 ounces. reslllt. There are 63 In many
Dredging is having a • ^ese have not u 1 r fajlure could result,
and Siberia, but most installed where . similar results,
instances dredges ll*ve_!jstnlction have conti J ,^s has resulted in
Bad design and weak const minmg ent^tnessed the successful
A general lack of capita ^ last year witne
installing cheap mach
264
REPORT OF THE DIRECTOR OF THE MINT.
operation of a drag-line excavator in conjunction with a floating wash¬
ing plant containing, in addition to the trommel, tables and belt
stacker of the California type of dredge, a large disintegrator of the
log-washer type, to free the gold from an extremely clayey gravel. A
second trommel was used to screen out large stones before the mate¬
rial passed to the disintegrator. This plant worked in material so
clayey that it would be considered by most dredge operators to be
impossible for dredging and in a climate almost as severe as that of
the Klondike, but without perennially frozen ground with a working
cost, not including administration, of about 17 cents per cubic yard.
Servia.
The American minister at Bucharest gives the value of the gold
product of Servia for 1911 at $265,280, representing 12,833 fine ounces,
and the value of the silver product $20,323, representing 37,635 fine
ounces.
Spain.
In the absence of any official information relating to silver pro¬
duction in Spain during 1911, the figures for 1910 are repeated for
1911, viz, 129,158 kilograms, or 4,152,430 fine ounces, of a commercial
value of $2,242,312.
Sweden.
No information has been received relative to the production of
gold and silver in Sweden during 1911. The figures for 1910 are
repeated, viz, gold, 95 ounces fine, value, $1,964; silver, 19,823 fine
ounces, commercial value, $10,704.
Turkey.
T^e A™rican c?nsul general at Constantinople reports the gold
Sf0«Q97 c°LTurfey f°ri l909, Was valued at S473> and the silver product
?l7i -“Iga6*' rhe g0ld Iaulue ^P^ents 23 fine ounces and the silver
and 1911 inC ounces‘ These figures are repeated for the years 1910
MINING IN TURKEY IN 1911.
[By Leon Dominion, in the Mining and Scientific Press, San Francisco, Jan. fi, 1912.1
The growing attention bestowed on prospecting and exploration
^nSmtrt ^Tt m°St notew°rthy feature for 191 1 in tlm Turkish
of weil S r thVS realized in that country that possibilities
neX-fdt ?Ur<T the subsoil, and this aclded to the
prospecting. effects of a liberal government has led to active
metals.
265
production of the precious >
ASIA.
British India.
The under secret a r\_ to the GoTpramant t 0.
that the gold product of British India for "on n':'lInlar<,Ports
SJ.2T1.477. equal to $11,054,143. renreintkL M4 744 fi„ UCd at
The silver product from lead ores was valued St ill 576^* S'
representing 104.323 fine ounces. u,a‘b> or $o6’335>
Goid production of thr Ffdtraitd Malay Stotts.
Pwrmk.
Negri Sembikn.
Pahang.
Total
Wdgfei. Vmloe.1 Wefeht. VatoeJ Weight.
Om men.
£
9.
Ounces
£
9.
Ounces.
15BS .
(*)
(*)
22.300.00
KM .
(*)
<*)
IS. 507. 00
MOP .
(t)
17.048.00
ISO! .
*764-41
2.^2
2
576,50
2.233
19
23.94800
I*C_ .
*54^43
2. 125
3
198.80
770
7
19.554.00
mo .
2.1*?
12
i m m
9. 1ST
5
12. 579. 00
1104. .
*1.4*9. €5
6.467
11
2.150.70
8.333
19
is.moo
MS . .
*1.799 . *2
6,974
14
311. ao
1,306
IS
9. 661. 10
1906 .
*1.057.52
4.097
IS
410 00
1.591
1
10. 727. 75
IK. .
*1.032,19
4.000
IS
35,20
118
4
*14.286.14
M08.
*1. 234- 22
4 7^2
12
13.652.60
1909 .
*1.278.®
4.955
S
76. »
298
3
14.887.67
8SK 57
3.481
19
15.868.50
1.306.57
5,074
11
241.80
937
0
7,677.00
Value.1
£
8k 025
71. 714
86.061
92.798
75. 771
48,743
70.525
37.436
41.570
55.358
52.903
57.689
61.490
29.748
Weight.
Ounces .
22.200.00
18.507.00
17.048.00
25.2SS.91
20.301.23
15.504.96
22.019.75
11.772.22
12.196.00
15.353.78
14.SS6.82
16.243.43
16.767.07
9.22S. 37
Value.*
£
86.025
71,714
66,061
97,994
7S.667
60.430
85.326
45,616
47.258
59.495
57,686
62.943
64.972
35.579
4.
0
12
0
11
5
10
10
12
19
IS
8
5
7
18
1 Ib Sterling at £3 17s. 6d. per ounce.
' . b.„ a.
• 1*L» oaasxs of gold prt>lut*d « koala Lipts not exported.
China.
A_s China publishes no statistics of hw o-0ia bullion
rer. recourse is had to the figures *° f er beck , of London, states
>m China by other countries. * • * . bullion or coin into the
it- there were no importations o go He also states that Ger-
uted Kingdom from China dimn^ • kilograms, or 65,071 fine
my import eii from China m 1911, J,w* *
nces, oia value of -$l,34o,H • • ^mual of Japan states 1
The twelfth Financial and Economic -«P g fcy japan during
s value of gold bullion unport t< 0^2 representing - ?
a S90.004 yen, equivalent to $443,- , hat the
to68* ♦ ihp Governnient of In# ia was valued at
The under secretory to tl India in 191 fie ounces.
Id bullion imported from CW™ - Renting '3-*3'
13,623. equivalent to «^^omPthe above amounts.
The following table is comp
emanates import^ ^
Fine
otujca*-
266
REPORT OF THE DIRECTOR OF THE MINT.
Imports of gold into United Kingdom.
Classification.
Country whence im¬
ported.
1909
1910
1911
British gold coin .
China and Hongkong..
Ounces.
15,092
3,301
4,951
Ounces .
Ounces.
Gold bullion:
Unrefined .
Refined .
Total (value, £91,816). .
23,344
251,061
£971,904
Gold bullion (unrefined) .
Value .
British^Vost Africa. . .
185, 779
£716,332
250,421
£941,832
Imports of gold into Germany.
Classification.
Country whence
imported.
1909
1910
1911
Gold bullion .
China
Kilograms, fine.
6,551
Kilograms, fine.
2,374
Kilograms, fine.
2,024
Value (marks) .
18,303,000
6,633,000
5, 667,000
— i
Legation of the United States of America,
Peking, October 18, 1912.
Silver mining lias been carried on in China from verv ancient times,
but until recently by crude native methods only. There is, even
now only one silver mine known to the legation" in which western
machinery is used, and that is the Sanch’s mine near Kuei-hsien in
Kuangsi Province.
in^AfVOrvS ''°U1"lin32,^ 18 Provinces of China proper and also
in Manchuna. Statistics of production are entirely wanting, and
StTmaTe oTthe out^T" ‘° legati°" Up°“ which"one ““ 811
Only four permits to mine silver were issued up to 1909 by the
thatSman°v !*h?ture» industries, and commerce, but it is well khown
It !!!I d, i ? Tre 111 °l)oratlon which were not registered.
11 of 1 S ProvTn! o i* 1|,.ltero.st’ y°u to know that gold is found in
MSXria!8 “nd m 10 °' th° Pr0™<^ of proper anil in
agricfdture*^ f* ministry of
Conner but infimoinri ^ce.up to 1909 and three to mine
imUto how many mines are beingw?rKf P*""*8 do“ no‘ ^
native tnethods^mfth^outjmtls j>robably0sma^!^^, ^ workci1 by
near^Lanchow'" in ‘xV"1 ^rita“ b“? bepn set up at Yaokai.
mining gold Tt Icliou ?n Sl.I,'0™ 18 ». Chinese-German company
working at Chao-yiian in the ejm°% am- a i>ureiy native company
an American fZrXch export' fe"" “S®?* its gold ofe to
The Chinese Government kc * t0 racoma>.^ ash., to be smelted.
Kansu, the macliinery beincr of AmHf .works at YaokaI’
The engineer in charge isXtL, H T “id Bntish manufacture.
uurgo IS British. He has four assistants who arc
PRODUCTION OF THE PBECIOUS M ETALS, 267
Belgian and Spanish. This plant turns n..t , . .
hours from 7* per cent ores. out 4 40,18 ot “PI** » 24
The Chinese Government also has cornier minac v u
Kiangsi. Samples of the ore show 40 3cen“ of coppcf^ThJe
mines are worked by native methods. We are also Government
copper mines in two prefectures of Szechuen Province. In one of
these are three Japanese assayists employed, and a smelting furnace
was purchased m 1910. The copper slabs produced from these
mines sell at about SO. 22 (Tjnited States) per 1 J pounds for the red
copper, and S0.42 for the same weight of white copper.
The total export of gold dust and bars from China in 1911 was
valued at 2,103,515 Hongkong taels, or 81,367,234.75 (United States),
but it is not certain that all of this was the product of Chinese mines.
On the other hand a great deal of gold is used in the arts and much
is hoarded in the shape of bars. No copper was exported.
W. J. Calhoun,
Envoy Extraordinary and Minister Plenipotentiary.
Indo-China.
The American consul general at Paris reports that the production
of gold in Indo-China for 1910 was valued at 284,918 francs, equiva¬
lent to 854,989, representing 2,655 fine ounces. The above figures
are used for the product of 1911.
Japan.
The American ambassador at Tokyo stales ^^gc^Mg^en^equiv-
of Japan for 101 1 was 4, 511 kilograms,
alent to 82,917,726, representing 141,145 1 me ■ oun , Went
of Formosa wals 1,657 Wlogm™,™ «« ^88 375 yen, ^
to 81,089,811, representing 52,720 hDBOW Financiai and Economic
for 1909 and 1910 according .to the mine, valued at 5,077,058
Annualof Japan were, for 1909, 1,0 < , 122,310 line ounces,
yen, equivalent to $2,528,3 /o, i P °dust weighing 436, 75o
Formosa produced in 1909 g°l( 1 aw)S8 496. For 1910 the gold
momme, or 52,656 ounces , valuedat ^Ae, Wed at 5,671,806 yen, or
production of Japan was 1,164,1 ounces. , , , ,
*2,824,559, representing 136,6.58 fm omme in gold and gold dust,
—In 1M.9 at *1,099,721. d
product m Formosa jjne ounccs. ... 111 197
en, or 832,395, representing o- Jfl for 190Q 'vi 3 ^ ^
The corrected silver product oi y $2 122,217, rear
tomme, valued at 4^ ,1’4'iJver product of ^^ommercial value
,081,186 fine ounces. in® 786 Bne ounces, ot acoi
909 was 412,946 momme, oi ^ j, 19l0 were
P 825,889. „ r Tapan silver Pr0f u^ 438,302, repre-
The corrected figures «f f4P896,l88 yen, ®i vaS 482j640
7, 763,443 momme, valued at «£ Formosa product
mting 4,515,374 fine ounces.
268
REPORT OF THE DIRECTOR OF THE MINT.
momme, or 58,188 fine ounces, the commercial value of which was
$31,422.
GOLD.
Countries.
1909
1910
1911
Fine
oimees.
Value.
Fine
ounces.
Value.
Fine
ounces.
Value.
Japan .
Formosa .
Total .
122,310
52,650
$2,528,375
1,088,496
136,638
53, 199
$2,824,559
1,099,721
141,145
52,720
$2,917,726
1,089,811
174,966
3,616,871
189,837
3,924,280
193,865
4,007,537
SILVER.
Japan .
Formosa .
Total .
1
4,081,186
49,786
$2,122,217
25,889
4,515,374
58,188
$2,438,302
31,422
4,354,430
59,991
$2,351,392
'32,395
4,130,972
2, 148, 10C
4,573,562
2,469,724
4,414,421
2,383,787
MINING PROGRESS IN JAPAN.
[From Consul Carl F. Deichman, Nagasaki, in Daily Consular and Trade Reports, 1912.)
Mining is one of the most important industries of the Nagasaki
consular district, and in point ot value of products and number of
men employed ranks next to agriculture.
Th° quantities and value oi the gold and silver output of the
Nagasaki consular district for the year 1911 are as follows:
Metals.
Quantity.
Value.
Gold .
Troy ounces.
50, 144
90,618
$1,034,641
34,800
d"rinf,191.1, sll>»"'<'d » very fair increase (9,600 ounces
onment of'lL t,,Ut f°r-, lc Ilrcv,""» year, due to the general devel-
opment of the mines with modern machinery. The Hasami gold
!ftaUed n^dem machSy afout
oS77 M0) bvaho,, rn „aSed U;elr 0,"1put ,or 1911 ("Inch amounted
to f{ /,4UU by about 50 per cent over that of the preceding rear The
LTuTurttu“Su,m;i“rn\T'feH;,re
Okuchi and TJsliio mint 1 T^os*1jI?la prefecture 1,200 ounces, the
aimually m Ka^oshlm}* ea<‘h about 4.800 ounces
producera^f^h^mltS111^ Prefecture are the largest
15,600 ounces troy annually 1 Thp W«F °ut?Vt averaging over
located in the same nrpfoninVA Sengano gold and silver mrnes
their output being over 6 000 "° & S° sb<nving ^creased production,
gold and Uer mSes L KaS.i?UnCeSr1>er The Kushikino
and are being developed in- the *lPrf-htcture, wliich were taken over
goo, I valucsVand 3 the Tna „1W U‘ Knisha' »«• showing
IS being ordered from the United* St atef ir modern machinery, wliicli
]>ly be one of the best gold producers i’n^TAn/0^ °f mi.nos wlU Proba_
being placed at 2,400 ounces gold and 18 600^,?“ estl{nated out1P1ut
s no i»,600 ounces silver monthly.
PRODUCTION OF THE PRECIOUS METALS ^
THE GOLD MINES OF FORMOSA.
[From Consul Samuel C. Real, Tamsui.]
Gold mining in Formosa is no new enterorrio Ti a-
the first gold dates back to the Chinese regrme ' In 1 SOOTS’,!7! f
Mmg-Chuan that astute and progressive afminkrator it*
forward the firet railroad construction, Cliinese coolies found
ivIr‘ll?oai'^Ule e§«avat“g,fP‘; fhe foundation of a railroad Hge
ovei the Keelung River at Slnchito. In all subsequent prospects no
mines lia\e been located outside of the Keelung River watershed.
Roth placer and quartz mines have been operating for many years
but placer mining lias been virtually abandoned. Tnere are now just
three quartz mines being worked, and their annual output appears to
be diminishing. But the statistical information is somewhat mis¬
leading, for the supply of treatable ore at two of the mines will last
for many years. Although undoubtedly the grade is growing less, the
supply is good and the value is holding fairly well By enlarging
their plants and by installing improved machinery the companies will
be able to treat lower-grade ore in larger quantities. ^ These mines are
located in north Formosa, within 10 or 12 miles of Keelung, the chief
port of Formosa. They are called Botan-ko Kozan, Kinkwaseki
Kozan, and Zuiho Kozan, the address of each being Keelung, For¬
mosa. . . n
In contradistinction to many enterprises in Formosa, t lese go
mines are being exploited by private capital. The Rowing y ,
cover the product of the three mines for the quinquennial penod,
1906 to 1910:
Year.
Botan-ko.
Kinkwa¬
seki.
Zuiho.
190G . .
1907... . .
loos...; . . .
1909 . . .
1910 . . . .
*318,324
275,785
191,535
176,202
134,147
8346,462
301,796
694,859
709,890
693,947
$243,369
220,542
186,707
166,964
231,895
. 1,095,993
2,746,954
1,049,477
\
Chosen (Korea).
,, t iue crold product
The American ambassador at Tokjo iepor ^ ^ §»901>
: Chosen for 1911 was 4,212 Julograms, v The silver product was
•,889 385, representing 1S9.7U fine ounc ^ representmg 9,
8 kilograms, valued at 1U,-
10 ounces. ^
270
REPORT OF THE DIRECTOR OF THE MINT.
East Indies.
BRITISH EAST INDIES.
The “Report of the Department of Mines of Western Australia,
1912.” states that the product of gold of the Territory of Papua in
1911 was 14.622.40 fine ounces, valued at £62,112, equivalent to
$302,268, representing 14.822 fine ounces.
BRITISH NORTH BORNEO.
No official information has been received giving the gold product of
British North Borneo since 1907, when the product was estimated to
have been 41,751 fine ounces, valued at $863,070, which furure is
repeated as the product for 1911.
FEDERATED MALAY STATES.
i he American vice consul general in charge at Singapore reports
that the gold production of the Federated Malay States for 1911 was
valued at £35. <60, equivalent to $174,026, representing 8.41S fine
ounces. c
<t Jke total product of the British East Indies, viz. “Papue,”
British JSortn Borneo, and ‘‘Federated Malay States” is 64,791
fane ounces, of a value of $1,339,364.
DUTCH EAST INDIES.
vi? tt}ere,h,af h^n report received at this bureau relative to the
Netherlands Indies during 1911, the gold figures for 1910 and the
vJ m-/?. are repeated, viz, gold, 163.S52 fine ounces,
Gf ^7-f- j goo* ’ SL^ver' ^65,980 fine ounces, of a commercial value
AUSTRALASIA.
rivPthfJS? S Department of Mines, 1912, Western Australia.”
and the the Commonwealth of Australia for 1911
CommndlZ *V“luf1 RePort of the Deputv Master and
SlX °f the L°ndon* 1911 ” ^es the silver product as
G«W- Silver.
states. - -
Fine
ounces.
- - - - -
Value.
Fine
ounces.
CoEnmer-
cial value-
Wersero AnswiEa.
'ictom. . .
1.370. S30
32S.3T.9M
I«2,599
*57.903
South Wiles. .
T aszifciiti . . — - ....
SB.»4
356. 160
151.119
W.41S.471
7.982.632
3 744. ftv;
2&. 719
549.015
14.425
_ 2S6.46S
Swri Astnia . * . - .
31.100
3,531
642,904
72.SM7
150.434
S.S34.712
60,1*4,190
14.529. 145
7,S4>.
Tocal _
7.277
427.379
2,911,410
‘i.'si6.'M3'
16.57S.421
. TOT,®?
5,952,340
PBODUCTJON OF THE PBECIOUS METALS.
Western Australia.
[From Report of the Department of Mines. 1911, Perth, 1912.]
271
GOLD.
The value of the sold yield in 191 1 was £5,823,075. As in the pre-
7n0-Lyoa^, the g° i Jie\d agam shows a decrease, the output bLg
99, <64 fine ounces less than for 1910, while the output for that year
was 124,637 fine ounces less than that for 1909.
The average value per ton of ore treated in the State as a whole has
fallen from 41 .48 shillings in 1910 to 41.19 shillings in 1911, and in the
East Coolgardie gold field, from which comes over 50 per cent of the
State’s yield, from 40.32 shillings to 38.14 shillings.
Comparing the tonnages of ore treated in 1910 and 1911 there is a
decrease of 148,355 tons in the latter year, during which 2,735,943
tons were treated.
Quantity and value of gold and silver produced during 1910 and 1911
4910 1911
Items.
Fine
ounces.
Value.
Fine
ounces.
Value.
1,470,632
£6,246,648
1ft 777
1.370.868
109, OH
£5,823,075
18,333
10, 1 4 1
- - -
AUSTRALASIAN GOLD PRODUCTION'.
« P«vrd Melbourne and Sydney, Janaary. 19VL]
^ has aga.n s^usl7
During the past year the prodin tio1! ^ ^at(?s m which mining ^
fallen off in the three principal Australi Australia. 1
carried on, viz, Victoria, Queenslanri, arnl^ It is attributable
decline has been continuous for sc ^ western Australian
to the decrease of the yields f 0ther occupations con-
to the superior attractions °^^ctona is concerned, a furth^ now
and to other causes. A3^ ted should the V ag mean the
siderable decrease must be - I higher labor ros properties.
ritting materially raise »;ag«>r SftV * ffiU
* s » **■» -
_ _ _ _ Fineoanc**-
3.073.3*1
2.902.i>*|
2. 719. MS
2 488
•£13,062- 7*2
J2 .564.070
io,5«7,e»
- - - ~~ roaoC is 587,173
_ H ^oftTS the decrease
- i f th&Q
From 1908 to 1911, » ?CIS>495,124.
fine ounces, of a value of
272
REPORT OF THE DIRECTOR OF THE MINT.
Tho New Zealand production is also declining, but not so rapidly
as tho Australian.
Tho Australasian production of gold for 1911 is approximately
2,915,902 fine ounces, as against 3,166,379 fino ounces lor 1910, and
3,435,008 lino ounces for 1909.
A RICH AUSTRALIAN GOLD MINE.
(From tho Mining World and Engineering Record, London, May 11, 1912. From our special correspond¬
ent, Sydney, Feb. 7, 1912.]
The richest gold mine in Australia at the present time is the Long
Tunnel, near Gundagai, New South Wales, about 251 miles south¬
west of Sydney. Tho mine itself is about 7 miles from the township
which is situate on tho Mummibudgeo River. It was discovered in
1896 by a prospoctor who had been induced to undertake a syste¬
matic prospecting mission by reason of the finding at various times
during the 20-odd previous years of very rich alluvial gold. The
claim was taken up by tho prospector and the owner of the station
on which tho discovery had been made. During tho partnership
several rich auriferous patches— including one at a depth of 100 feet
which yielded about £4,000 of gold from less than a ton of stone—
were met with. Tho formation was prospected a distance of 20
chains, rich gold being obtained at intervals of three or four chains,
the total yield being about £20,000 in value. Then it was supposed
that the rich ore had been cut out, and the mine was abandoned.
Ultimately the lease was canceled for noncompliance of conditions,
and in 1910 a local syndicate, including the discoverer, was formed
to commence operations afresh. It now consists of fivo local men,
including the owner of tho station. Starting about the center of
the working gold was struck at 50 feet. This, however, by means of
tunnel and winze, has been extended about 280 feet. Altogether,
there has been about 200 feet driving ami 200 feet of winze, sinking,
(r,°“ ±C1‘ 3,250 ounces of gold has been obtained, giving n profc
^ i' i r ° ; ^w0 loeks are employed, tho face being too narrow.
The lode tarnation runs from about a foot to 40 feet wide, and is
made up of ferruginous quartz, decomposed dioritc and ealcite; while
a characteristic oi tho mine is that it resembles the Wentworth
Proprietary at Orange, from which during the last eight yearn of
its Me, gold to the value of £800,000 was won. There is no erusli-
mg battery. Ono parcel of 879 ounces of gold value £8 SO ) in
one of tlie Sydney 'banks represented the task of three of the five
i^Ct of a dote,?1 T* PCr d(ay.Ior * ‘'VS, each lilting down
iron tamoinir bars* Kn riLai 1 tK"'n ’ lin,l heating tho stone witli
iron tamping bars, J\o regular miners are emploved When a
bonanza is struck, word is sent to tho nth™ ot.T ij ‘ v>nen a
2&Z l<!™ Sst t: s
Kth the main lodo? "tC °f V\Y™««ourees
low-grado proposition, is being develoned W ,vP ° ° •i'1®’6, * b,S
Cay, slate, and talcose slate, thoVldC^&U feffiS*
PRODUCTION OF THE PRECIOUS METALS. 273
100 feet wide in one part. The gold, however, is very fine and may
prove difficult to treat by battery process. The owners have not
the slightest intention at present of putting their properties on the
market. It pays them best to retain possession so long as the gold
is plentiful and readily obtained.
New South Wales.
DREDGING.
[From Annual Report of the Department of Mines, New South Wales, for the year 1911.]
The yield of gold obtained by the dredges during the past 12 years
is shown by the following statement:
Year.
Quantity.
Value.
Crude ounces.
8,882
Fine ounces.
7,924
£33,660
23,585
21,100
89,628
25,473
23,046
97,891
27,237
24,555
104,303
32,345
29,111
123.656
136,090
35,388
32,038
36,649
33,218
141,101
39,946
36,136
153, 498
161,059
40,890
37,917
36,168
32,635
138,626
31,487
28,660
121,741
25,509
23,364
99,245
363,559
329,704
1,400,498
YIELD OF SILVER.
[From Annual Report of the Department of Mines, New South Wales, for the year 1911.J
Statement showing the estimated quantity and value of the silver yielded by the mines of
New South Wales .
Teriod.
Produced in
Australia.
Value.
Contained in
concentrates,
etc., exported.
Value.
Total pro¬
duction.
Total value-
of produc¬
tion.
To the end of 1900 .
1902 .
1903 .
1905 .
1906 .
1907 .
1908 .
1909 .
1910 .
1911 .
Fine ouncex.
63.747,440
6,293,619
6,416,650
6.489,689
7,751,667
6,804.934
5,575,410
5,921,457
6,484,288
3,717,016
5,196,323
6,731.468
£11,615,847
770, 756
697,305
723.513
920. 947
852,533
775.409
795.982
693,034
382,605
561,280
620,578
Fine ounces.
93,486,234
5,527,978
3,909,110
1,736,512
2,945,058
3,480,561
3,111,013
6,228,225
5,499,381
6,867,775
7,608,336
8,797,677
£17,034,750
676,991
424,808
193,598
349,891
436,050
432,669
845,845
587,768
732.563
843,257
973,210
Fine ounces.
157,233, 680
11,821,597
10,325,760
8,226,201
10,696,725
10,285,495
8,686,423
12,149,682
11,983,669
10.584,791
12,804,659
14.529,145
£28.650.597
1,447,747
1,122,113
917,111
1.270,838
1,288,583
1.208.078
1.641.827
1.280,802
1.115,168
1.404,537
1,593,788
Total .
130,129,967
19,409,789
149,197,860
23,531,400
* 279, $27, $27
42,941,189
274
REPORT OF THE DIRECTOR OF THE MINT.
AFRICA.
The value of the gold product of Africa for 1911 was $191,538,433,
representing 9,265,672 fino ounces, and the commercial value of the
silver product, $574,587, representing 1,064,050 fine ounces.
Transvaal.
West Coast.
French colonies.1
Rhodesia.8
Total.
Weight.
Value.
Weight.
Value.
Weight.
Value.
Weight.
Value.
Weight.
Value.
1859. .
1890..
1891..
1892. .
1893. .
1894..
1895..
1890. .
1897..
1898..
1899..
1900..
1901..
1902..
1903..
1904..
1905..
1906..
1907..
1908..
1909..
1910. .
1911..
Kilos.
11.719
15,700
22,398
34,938
42,573
59,730
66,045
65,874
86.720
119, 190
107,410
9,215
8,026
52,514
92,468
117,371
152,707
179.986
200,665
219,475
220,903
234, 122
5 256, 645
$7,788,372
10,438.350
14,885,639
23,220,108
28,293,831
39,690,330
43,893,300
43,779,609
57,633,861
79,213,953
71,384,561
6,124,226
5,333,994
34,901,140
61,454,439
78,001,559
101,489, 199
119,618,507
133,361,943
145,862,971
150,799,880
155,597,202
170,566, 159
Kilos.
1,270
1,062
1,289
1,528
977
865
995
945
751
518
422
326
216
109
2,028
2,544
4,351
6,426
8,456
8,687
7,381
5,536
8,428
$S44, 262
705,705
856,730
1,011.924
649,695
574,653
661.630
627,938
499,311
343,928
280. 185
216.873
143,813
6,552
1,347,845
1,090,770
12,891,928
4,270,685
|5.620,248
5,773,333
14.905,461
3,679,000
5,601,117
Kilos.
261
261
201
<201
261
261
261
261
640
189
3*4-1
1,115
958
1, 127
1,701
2,143
2,312
2,086,
2,712'
2,801
3,098
3,842,
2,80Gj
$173,401
173.401
173.401
173.461
173.461
173,461
173.461
173.461
425, 510
125,987
228,512
741,029
636,700
748,970
1,130,358
1.424,340
1,536,353
1,386,068
1.802,676
1,861,754
2,059,336
2,553,637
1,865,349
Kilos.
8
8
8
gj
(*)
669
1,700
2,392
4,476
5.005
6,117
7,214
11,040
15,171
16,851
19,594
19,898
20, 102
20,322
$444,617
1.129,773
1,589,815
2,974,943
3,366,661
4,065,489
4,794,208
7,337,211
10,082,747
11,199, 181
13,022,460
13,223,955
13,300.012
13,505,808
Kilos.
13,250
17.029
23,948
36,727
43,811
00,850
67,301
67,080
88,111
120,566
109,876
13,048
13,676
58,815
102,314
129,272
170,410
203, 669,
228,684
250,557,
257,280
263,602!
28S,201j
$8,806,095
11,317,522
15.915,830
24.405,493
29,116,987
40,444,444
44,728,391
44, 581,068
58.558,682
80, 128.485
73,023,031
8,671.943
9,089,450
39,023,229
67,998,131
85,913,877
113,254,691
135,358,007
151,984,048
160,520,518
170,988,632
176, 189,881
191,538,433
* A. lcl“dl K Madagascar, Algeria, and the French Sudan. For 1903 and 1904, Madagascar only. For 1905,
fipires for Madagascar and Egypt. For 1900 and 1907, Madagascar and Egypt for 1905 repeated,
of ^,aP®^oj0py . a|jd Natal for all years except 1901, which does not include product
of Mozambique or Natal, F or 1903, includes Rhodesia, Capo Colony, and Natal. For 1904 and 1905, Rho-
and I^«Jiuanaia°ni'’ Mozambulue- For 1906 tlnd 1U07i Khodosiu, Cape Colony, Mozambique, fcatul,
'ninmlM*11 Rhodesia and Mozambique together produced 289 kilograms, fine, included In the
Transvaal returns.
« Previous to 1897 the only figures obtainable wore those for 1892— Madagascar only
* Includes “Cape,” “Orange Free Stato,” and “Natal,” constituting the “ Union of
of South Africa.’
Belgian Kongo.
The American consul general at Brussels reports that the gold and
silver product of Belgian Kongo during the year 1911 was valued at
$396,678 for the gold and $1,148 for the silver. These amounts
represent for the gold, 19,189 fine ounces and for the silver 2,126 fine
ounces.
Cape Colony.
The American vice consul general at Cape Town, South Africa, re¬
ports the gold product of the Province of Capo was valued at £310,
or $1,509, representing 73 line ounces.
Egypt.
1 lie American agent and consul general at Cairo, reports the value
of the gold production of Egypt at £21,609, equivalent to $105,161,
representing 5,087 lino ounces.
Madagascar.
The American consul at Tamatave reports tlio gold production of
Madagascar to have been valued at 9,120,143 francs, or $1,760,188,
representing 85, 1 49 fine ounces and the silver product at 400 francs or
$</, representing 143 fine ounces.
PRODUCTION OF THE PRECIOUS METALS.
Mosambique.
275
The annual statement of the trade of the United Kingdom gives the
value and quantity of the imports of gold from Portuguese East A W™
in gold ores, £5 240, and in buUi„„f3l,364 ounce^ZSng t£
ounces to be 916f line the total value of the gold imports in United
States money is $619,822, representing 29,984 fine ounces.
Natal.
The '‘Mines Department Annual Report of the Union of South
Africa, 1912,” gives the value of the gold product of Natal at £7,246,
or $35,268, representing 1,706 fine ounces.
Rhodesia.
The annual report of the Rhodesia Chamoer of Mines states that
the production of gold for Southern Rhodesia in 1911 amounted
to 628,521.37 ounces, valued at £2,647,896, equivalent to $12,885,986,
representing 623,360 fine ounces. The report also states that silver
of the value of £19,320 was produced ($94,021), representing
174,113 fine ounces.
Transvaal.
The American consul at Johannesburg, U*1*?*1 ,0^ ^£35^0^485*
reports that the gold product for Wll was vaW at £35^41^5,
. and the silver contained in the S°'(1 bM^ion 337 representing
in United States money of the gold » repie-,
8,249,359 fine ounces, and the value ot the sm
senting 887,668 fine ounces.
West Africa. ,
The report of the West African C^“b"af^iued ^£1,069,442,
product of gold in West Africa l01 9,, ygg fine ounces,
equivalent to $5,204,439, representing- 51 f j911 was gold,
The total product of gold and silver ot iu ^ ^ gilTer) 1,064,050
9,265,672 fine ounces, valued at > $574,587.
fine ounces, at a commercial value of
Un,on op South
(From Annual IMP*. •' “““ ,
The net output of gold from all source* *
?or the Transvaal .
Cape .
Natal .
c 949 461 • 4lS
S’24 ’ 73.052
1.705.SS0
£J5(°41,^
. . r« flne ounc‘>-
1 All values for goW taken at 1 he ] |’3 product 9 j Q.
al production of discover**.
l, when gold was tiu
276
REPORT OF THE DIRECTOR OF THE MINT,
mafcely £325,102,222 up to the end of 1911, which was practically
all produced in the Transvaal.
Monthly figures of the gold declarations are as follows for the
Witwatersrand and the Transvaal for 1911:
Month.
January .
February .
March .
April. .
May .
June .
July .
August .
September .
October .
November .
December .
Total .
Net output 1 .
Witwatersrand.
Transvaal.
Fine ounces.
Value.
Fine ounces.
Value.
623,346.354
5S6, 159.140
651,366.310
636,775.460
659.5S5.154
65S.12S.00S
6S1.063.330
6S2.653.103
669,375.613
677,609.910
691,325.600
69S.552.96S
£2, 647, SOS
2.4S9.S45
2, 766, S28
2,704,851
2. SOI, 718
2,795,550
2.S92. 974
2,899,725
2.S43.327
2. 87S, 559
2,936,564
2,967,204
648,455.355
610.712.S41
67S.793.938
664,618.707
6S7.615.957
6S5.656.697
711,651.640
713,449.118
700.623.746
707, 775. 473
720.769.9S2
727,046.520
£2,754,463
2,594,145
2,883,332
2.S23.121
2, 920, S00
2.912.4S4
3,022.904
3,030,538
2,973,511
3,006,438
3,061,637
3, OSS, 298
7,916,000.950
33,625,033
S, 256, 569. 9S0
35, Or 1 , 6r t
7,910, 033. 9S1
33.599.0S9
8,249. 461.418
35,041, 4S5
1 After adjustment of balances.
The output of gold for the Cape for the year was 73.052 fine ounces,
of winch 51.505 ounces were from the alluvial fields at Knysna.
lhere was no output of gold from the Orange Free State Province,
lhere were 1,/ 05.88 line ounces of gold produced in the Province
ot Aatal. No gold was declared by companies working in Zululand,
vhere development was carried on during the year. One mine only
was crushing m December, 1911, with five stamps.
Witwatersrand muies .
_ [£*tract from the Mining World and Engineering Record, January IS, 1913.]
Company.
Aurora West Union (10s.
share) .
Bant jes Consolidated .
Brakpan .
Cinderella Consolidated .
City Deep .
Citv & Suburban (£4
share) .
Consolidated Langlaagte _
Consolidated Main Reef. . . . !
Crown Mines (10s. shared
Durban Roodepoort Deep .
Durban Roodepoort Gold . .
East Rand Proprietary....
Ferreira Deep . *
Geduld .
Geldenhuis Deep . *
Ginsberg .
Glencairn . [ .
Jumpers .
Jupiter . * * [ ' [
Knight Central .
Knight’s Deep .
Lancaster West. . .
Langlaagte Estate. I
Luipaards Vlei . ‘*‘1
Main Reef West .
May Consolidated _ I ’ *
Stamps
work¬
ing.
80
85
150
80
150
150
90
100
660
100
90
820
250
50
300
80
160
60
105
110
400
100
200
60
90
100
Tube
mills.
3
20
3
25
6
Esti¬
mated
“life.”
Years.
23
44
30
42
37
5
30
50
42
18
6
30
13
0)
0)
0)
(»)
16
5
9
1
14
24
22
45
1
Company,
(£4
Meyer <$: Charlton. . . .
Modderfontein B .
New Goeh . *,
New Ueriot .
New Kleinfontein.
New Modderfontein
share) .
New Primrose _ * .
New Rietfontein. . .
New LTnified...
Nigel Gold .
Nourse Mines .
Princess Estate . . .
Randfontein Central
Robinson Deep. .
Robinson Gold (£5 share)"
Roodepoort United ...
Rose Deep .
Simmer Deep _ _ _ _ _ "
miner & Jack Propy .
an Ryn Gold. ... ... “
llage Deep .
Huge Main Reef. . .
est RamtCentral
est Rand Consolidated
itwatorsrand Deep
itwatersrand Gold
olhuter .
75
SO
120
70
210
ISO
160
120
60
75
260
60
750
140
250
50
300
140
320
135
180
220
20
100
245
220
120
* No reU*h,« •sUmatos of those mines an obtainable.
Esti¬
mated
“life.”
Years.
IS
68
19
10
24
24
4
0)
Q)
C)
Q)
(l)
24
11
i
13
6
33
12
12
19
23
4
13
7
10
PRODUCTION OF TUE PRECIOUS METALS.
277
SILVER.
Thera are no silver mines working- in thp TTmmi „ +
shown hereunder represents the silver contained iS'thJ go W bullion
and a small quantity of silver from base metal ores file latter fc
returned only when accounted for by the smelters.
Silver output .
Source.
Transvaal.
Natal.
Fine ounces.
Value.
Fine
ounces.
Value.
From gold bullion. . .
tO/t 9A7 ROQ
£98,470
28
94.230
From base metal ores
wo, 20/. 04>
271.000
£9
Total .
•
890, 538. 023
98,498
94. 230
9
The silver contained in gold bullion and base metal ores in 1910
was valued at £90,790.
West African gold returns .
[From the West African Chamber of Mines.]
1910
1911
Month.
Ounces.
Estimated
value.
Ounces.
Estimated
value.
January .
17 357
x,7rt Ann
15,903
15, 179
16,387
17,237
24,427
22,555
22, 510
25,385
26,717
26,826
24,289
24,369
£66,107
February .
if» U7/;
i u , oyy
68,469
71 4
March .
17 627
63,081
April .
16, 363
■ a i yo*x
07,009
AQ QJCK
67, 673
16 Son
70,880
June .
ie, oe»u
17 194
Oo, 300
70 QfiQ
96, 409
July .
15 564
/u, y?so
92, 174
August .
eui
13,921
11,497
13,341
14 021
05, OOI
57 7 1 Q
91,955
103, 753
109, 039
September .
Oi , i Lo
47,746
5^ OAA
October .
November .
OO, IriO
57,058
61 7Q7
109,503
December .
15,’ 042
99,299
OI, iiit
99,569
Total .
185 493
755, 985
261,784
1,069,442
Algeria.
IMPORTS AND EXPORTS OF GOLD AND SILVER DURING 1911.
*
[From L’Economistc Europeon, Paris, Nov. 15, 1912.]
From official statistics published recently, there was imported into
Algeria during the year 1911 gold, silver, and billon (minor) coins of
the value of 0,467,000 francs, divided as follows:
Gold coins, 40,000 francs, from France.
Silver coins, 6,371,000 francs, of which 2,057,000 francs came from
Franco and 4,314,000 francs from French colonies and foreign
countries. h
Billon (minor) coins, 56,000 francs, of which 55,000 francs were
from b ranee and 1,000 francs from French colonies and foreign
countries. ®
278
REPORT OF THE DIRECTOR OF THE MINT.
The imports in 1910 amounted to 6,273,000 francs, of which 11 000
francs were in gold coins, 6,242,000 francs in silver coins, and 2o’ooo
francs were in billon (minor) coins.
Regarding the exports of specie in 1911, they did not exceed the
amount of 756 000 francs, of which 1,000 francs in gold coins went to
Trance, 7o4,000 francs in silver coins and 1,000 francs in billon
r™01' coins went to French colonies and foreign countries.
, rje anJount of exportations corresponding in 1910 were *766,000
iiancs (9,000 francs in gold corns and 757,000 francs in silver coins).
Rhodesia.
PRODUCTION OF GOLD.
[From the Seventeenth Annual Report of the Rhodesia Chamber of Mines (Incorporated), for the
Jke Hoduction of gold from all sources totaled, as will be seen,
Sfl1 &ie °.unces’ valued at £2,647,896. The increase as compared
1 . 1 the previous year was 18,566 ounces in weight, valued at £79 698
It constitutes the highest production for one year yet declared' and
onff/to £19 67^ 328°f Th®?'* plodutctio,n f the country to the end
lw fir! non tUn 1,32?* AThe tonnage treated was 1,603,478 tons, less
by 66,000 tons than the tonnage treated in 1910. The average value
recovered per ton crushed was 33.02 shillings, or 2.27 shillings greater
than 1910. Since 1907 the average grade has steadly risen from 27 05
r t0- 2In77.shjJ^S 111 1908> ^9.03 shillings £ 1909,
lid 30.75 shillmgs in 1910. Of the gold recovered 496 557 mmcp<s
from sfeVoTl millhlS, §8,197 ounces from sands, 2l’,775 ounces
other sources 'The tor^ge^il? eS cassis giten m^Wport f and
hy 25’000 t0nS’ While thc tons of sands
GREAT GOLD MINES.
Comparisons are always interesting, and the following- from the
£ lining and Scientific 1 ress, of San Francisco, about a few”of the best
«p0mdu8c°ti« “me3 °f thC WOrld “d their “> 1 is worthy
SflS' Mo'TT -S an Er'-
1911. The greatest dividend payer of the vea?vZ r}M l,°J^ns d“Tlg October
declared dividends for the year amounting\0 over «7 000 OOO ^ C.onsohdatfd> whlc?1
mately 338,000 tons of ore of a gross value of over *10 oooom ha2;,lnS “nUed approxi-
payer of the year on the Rand was the Crown mi *e8^ ’ SffiJ Iar"estdlY1.<len.d
amounting to £517,058 for the 10 months ended ?n ’Ortib^ Thf f ed dlvldends
America from the tonnage standpoint is the TL.n?ect i ® i T“e largest mine m
tons in 1911. thomrh thf* which milled over 1,500,000
well mines have 900 stamps kVVoVfc1 wM at a?y lime' The Tread-
the Homestalce the 1,000 stamps have a dutv „fl i °f over ^tons per day, and at
daily output of the Treadwell ^nl is theref 1 wi°Ver 42 tons Per The
ditions permit the Homeetake to operate more y 8[eat€ir’ hut working con-
handicap. The deepest gold mine of th! world i^t hi \f10US ^r Ju Us overcoming the
by the St. John del hey Mining Co though The !? Mo?0 Ve,lho’ in Brazil, owned
m California am worthy ooinpaniom, lie' Kennedy,1 ‘rfffg fh“! ^
PRODUCTION OP THE PRECIOUS METALS.
279
m America, haying attained a depth of 3,550 feet. The United States takes, there¬
fore, no mean place in the gold industry, being second in total production, having the
largest dividend payer, and having more dredges at work than all the rest of the
world combined.
In Siberia the Lena Goldfields is remarkable as the most productive alluvial gold
mine in operation anywhere. The ground is permanently frozen, as in the Yukon,
and the gold lies on bedrock 100 feet below the surface. Drift mining accompanied
by steam thawing isemployed. In the season of 1911 the output of gold was £1,619,406,
or $8,047,030, from 881,000 cubic yards, or an average of 10 pennyweights per yard.
The cost averaged $6.21 per yard. This seems appalling, but it is due largely to diffi¬
culties of administration and the expensive character of the methods required to
extract the gravel. In the far east of Siberia the Orsk Goldfields has erected a dredge,
from which much is expected. A preliminary run with a stacker scow has shown a
yield of $1 per yard, but it is not likely that this is a correct average of the ground.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
REPORT OF THE DIRECTOR OF THE MINT,
GENERAL
Domestic production , deposits, and purchases of gold, by
Location and description
of deposits.
Alabama .
Alaska .
Arizona .
California .
Colorado .
Georgia . .
Idaho .
Michigan .
Montana .
Nevada .
New Mexico....
North Carolina.
Oregon .
South Carolina.
South Dakota..
Texas .
Utah .
Virginia .
Washington....
Wyoming .
Porto Rico .
Philippines ....
Other .
Total domestic.
Domestic bullion, refinery
bars.
Domestic bullion, refined
(over 992).
Total domestic bullion
Domestic coin purchased.
Domestic coin transferred . .
Foreign bullion , unrefined .
F oreign bullion , refined ....
Foreign coin .
Jewelers' bars, old plate, etc.
Deposit melting room grains
and sweeps.
Deposit melting room grains
and sweeps. New York.
Melter and refiner's sweeps.
New York.
Surplus bullion .
Gains on bullion purchased
Recovered from slag bar...
Proof bullion . ] ’
Total deposits.
Redeposits:
Fine bars .
Unparted bars.
Mint bars.
Total redeposits.
Total bullion.
Philadel¬
phia.
Standard
ounces.
861. 274
432.053
559. 677
503.307
425.780
467.885
.554
16.205
506.614
6.355
1,855. 747
80. 627
3.843
1S4.851
53.544
151. 107
4. 999
6,114. 422
175.364
511.622
6,
16,
117,
801.408
259. 208
620. 995
912. 239
72,
89. 139
610.176
93. 980
151.137
245.699
21.383
214, 805. 364
San Fran¬
cisco.
Standard
ounces.
172,629. 194
93,625.899
238, 173. 872
14.453
383.883
3. 182
77,183.269
2,185.574
5,189.231
3.326
181 222
4,960.986
594,534.091
2,326,711.985
2,921,246. 076
752. 211
106. 140
43,557.049
278,309. 812
10,350. 934
101. 737
806. 026
190.833
3,255^420.818
Denver.
Standard
ounces .
6.486
643. 869
45. 638
220,486.549
New York.
Standard.
ounces.
18.056
1,858. 781
1,510.749
576. 138
113,876,361
4,431.732
586.335
84.843
802.434
71.548
74.945
5.244
30.382
3,160. 526
61.474
18,438. 787
New
Orleans.
Standard
ounces .
Carson.
320. 813
47.538
57,504.271
88.301
110. 127
40. 746
107.958
343,051.134
458,747. 241
155,010.191
24,066.875
72,011.851
1,539,619.549
956, SOS. 566 1, 635, 698. 275
17.796 35,220.138
239.319
4,877. 859
233.870
292.616
161.250
962,631.276
33.018
Standard
ounces.
1,602.037
15.400
13.987
401.369 59, 135. C95
401.369
1,683.335
171,237. 818 77,248. 535
784,989.793 .
234,808.707 120.976
221,551.138 2,777.824
296.381 18.478
163.056
59,135.69 5
16.606
.409 .
3,083,965.306 82, 250. 926 59, 152. 301
281.555
1 Discontinued July 1, 1911.
PRODUCTION OF THE PRECIOUS METALS,
281
STATISTICS.
weight, during the calendar year ended Dec. 31, 1911
Boise.
Helena.
Charlotte.
Dead wood.
Seattle.
Salt Lake
City.
St. Louis.1
1 Total.
Standard
ounces .
Standard
ounces .
Standard
ounces.
969. 805
Standard
ounces .
Standard
ounces .
Standard
ounces .
Standard
ounces.
Standard
ounces.
7.50S
398.968
256,822. 14C
■ms
1 .
987. 861
432,585.609
9.427
3.400
28.955
44.08;
$ .
1 .
95,031.242
240,530.649
221,123.341
1,657.773
42,048.734
i, 179. 211
36,112.835
596.073
568.35c
» 2,363. 172
> .
196.801
85,830.956
1,048.380
3.055
1 17.94C
35,072.401
)
.554
91,152.717
284,404.246
25,062. 448
3,742.305
13,064.867
694.074
391,675.390
33.018
28,874.765
151.107
5,356. 134
1, 133. 959
107. 958
4,960.986
4.999
1,886.558
5,888.365
1,800.807
3.549
690.231
390, 790. 721
3.356
1.587
28,690.719
1,816. 242
335.668
3,023.002
331.525
44,532.155
87, 161. 665
4, 729. 205
390, 790. 721
363,342.135
66,525.269
.
1.884,384.736 :
463.465
4,316.260
531,397.921 !
4.026,169.607 :
44,532.155
87, 161. 665
4, 729. 205
.260
390, 790. 721
263,342. 135
25.651
66,525.269
4, 779. 725
3,030.660
6,441.952.264 5
56,989.259 5
117,727.135 2
298,646.949 3
840,115.218 3
513,339.038 3
315,768.300 3
831.607 3
151.137 3
245.699 3
1,125.907 3
12.884 3!
23.170 3!
515.139 U
13. 775
5.434.883
55.124.083
1.038
1,527.341
7. 166
3.331
1.342
9.366
183. 740
4.328
163. 671
18.554
124. 610
12.252
721.111
13. 985
879. 896
7. 120
7. 150
5.473
11.566
1.318
23.170
44. 725. 946
87.372. 874
4,866.327
390,797.871
325. 486. 785
67,265.038
8, 702. 874
8,587,443.706 4:
27.533 .
25.396.
5,227.019 42
1,233.387.303
4,582.360 4*
52. 929 .
1,243,196.682 4i
44.725.946
87, 372. 874
4,866.327
390, 797. 871
325,539. 714
67,265.038
8,702.874
9,830,640.388 4«
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
REPORT OF THE DIRECTOR OF THE MINT,
Domestic production , deposits , and purchases of silver, by
Location and description of
deposits.
Alabama .
Alaska . .
Arizona . .
California . .
Colorado . .
Georgia . .
Idaho .
Michigan .
Montana .
Nevada .
New Mexico _
North Carolina.
Oregon .
South Carolina.
South Dakota..
Texas .
Utah .
Virginia .
Washington....
Wyoming .
Porto Rico .
Philippines .
Other .
Total domestic .
Domestic bullion, refinery
bars.
Domestic bullion, refined
(over 992).*
T otal domestic bullion
Domestic coin purchased
Domestic coin transferred . .
Foreign bullion, unrefined..
Foreign bullion, relined _
Foreign coin .
Philippinecoin for recoinage.
Philippine assay coins .
Jewelers’ bars, old plate, etc.
Deposit melting room grains
and sweeps.
Deposit melting room grains
and sweeps, New York.
Melter and refiner's sweeps.
New York.
Charges and fractions .
Surplus bullion .
Gains on bullion purchased
Recovered from slag bar...
Proof bullion. .
Total deposits . 1, 181,897.
Philadel¬
phia.
Stand, ozs.
94.56
284.83
105.85
5.23
52.32
108.31
51,867.49
9.21
91.24
.23
557.31
7.01
.81
23.22
12.81
23.09
1.39
53,244.91
63, 178.60
506,473.05
622,896.56
2,489.25
417,365.90
51,395.45
274.01
928.80
85,959.98
205. 19
230.26
152.50
.90
Redeposits:
Fine bars .
Un parted bars.
Mint bars .
Total redeposits. .
Grand total .
50.626.28
691.884.48
110,527.51
853,038.27
2.034,936. 17
San Fran¬
cisco.
Stand, ozs.
18,630.57
42,817.79
50,682.81
1.72
126.40
1 TO
25, 923! 01
888.90
971.91
9.24
60.10
833.08
140,947. 12
*1,248,254.30
1,389,201.42
250.58
16,094.29
40,946.25
111,928.58
419,184.00
10,796.91
47.46
8,448.29
Denver.
Stand, ozs.
1.10
364.16
5.63
353,374.30
326. 19
162. 19
18,620.04
55,247.84
330. 12
439.93
118.72
428,990.22
13,866.64
686,712.86
721
1,129,569.
161.77
34,276.32
56.43
445,231.14
New York.
5 and. ozs.
3.70
231.45
11.21
22.25
.25
11.62
600.92
2,131.80
28.46
798,342. 18
9.36
15.54
1,054.09
51.53
New'
Orleans.
Stand, ozs.
74.51
28.87
5.87
802,514.36
31,247.98
528,831.%
,362,594.30
160. 16
101,071.08
297,340. 18
3,783.62
5,944.27
190.54
493.11
442,291.16
739.67
9,698.76
109.25
109.25
11.08
40,907.48
1,592.86
207.20
35.49
222.22 ....II"!* !
1,996,897.78
33,270.02
1,615,923.30 2.217,901.15
349,867.59
1,337,378. 10
rc*270^ 349,867. 59 1, 337, 378. 10
2, 030, 167. SOjl , 965, 790. 89 3, 555, 279. 25
42,863.36
42,863.36
Carson
Stand, ozs.
272.8 6
3.52
33,556.36
9.31
33, S42. 05
33,842.05
51.18
33.S93.23
33,893.23
1 Discontinued July 1, 1911. - - 1
age for Government orian^Salvador!11 1 Statee Private refinery bars furnished by and used in
PRODUCTION OF THE PRECIOUS METALS.
weight, during the calendar year ended Dec. SI, 1911.
283
3 Includes 410,812.68 standard ounces in United States private refinery bars furnished by and used in
coinage for Government of San Salvador.
284
report of the director of the mint.
Coinage of the United States during the calendar year 1911.
Denominations.
GOLD.
Double eagles..
Eagles . .
Half eagles -
Quarter eagles.
Total gold.
SILVER.
Half dollars -
Quarter dollars.
Dimes .
Total silver .
MINOR.
Five-cent, nickel.
One-cent, bronze.
Total minor. . .
Total coinage.
Philadelphia.
Pieces.
Value.
Pieces.
Value.
197,350
505,595
915, 139
. 704, 191
$3,947,000.00
5, 055, 950. 00
4,575,695.00
1,760,477.50
775,750
51,000
1,416,000
$15,515,000.00
510,000.00
7,080,000.00
2,322,275
15,339,122.50
2,242,750
23,105,000.00
1.406.543
3.720.543
18,870,543
703,271.50
930,135.75
1,887,054.30
1,272,000
988,000
3,520,000
636,000.00
247,000.00
352,000.00
23,997,629
3,520,461.55
5,780,000
1,235,000.00
Oft CCQ 070
1 Q77 Qfifl fiO
oy, ooy, * &
101,177,787
1 f *y ( i j w
1,011,777.87
4,026,000
40,260.00
140,737,159
2,989,746.47
4,026,000
40,260.00
167,057,063
21,849,330.52
12,048,750
24,380,260.00
San Francisco.
Denominations.
Denver.
Total.
Pieces.
Value.
Pieces.
Value.
GOLD.
Double eagles .
Eagles .
Half eagles .
Quarter eagles .
Total gold .
SILVER.
Half dollars .
Quarter dollars .
Dimes .
846,500
30, 100
72,500
55,680
$16,930,000.00
301,000.00
362,500.00
139,200.00
1,819,600
586,695
2,403,639
759,871
$36,392,000.00
5,866,950.00
12,018, 195.00
1,899,677.50
1,004,780
17,732,700.00
5,569,805
56,176,822.50
695,080
933,600
11,209,000
347,540.00
233,400.00
1,120,900.00
3,373,623
5,642,143
33,599,543
1,686,811.50
1,410,535. <5
3j 359,954^0
Total silver .
12,837,680
1,701,840.00
42,615,309
6,457,301-55
MINOR.
Five-cent nickel .
39,559,372
117,875,787
1,977,968.60
1, 178, 757. 87
One-cent, bronze .
12,672,000
126, 720.00
Total minor .
Total coinage . .
12,672,000
126,720.00
157,435, 159
3,156,726-47
26,514,460
19,561,260.00
205,620,273
65,790,85a 52
Coinage for San Salvador by mint at Philadelphia . 510,993 peso pieces
Coinage for San Salvador by mint at San Francisco . 511,108 peso pieces
Coinage for Philippines by mint at San Francisco: ^
Peso pieces .
20-centavo pieces .
10-centavo pieces . 1 , 000,
1-centavo pieces . 4,803,oou
76347°— 13 - 19
286
REPORT OF THE DIRECTOR OF THE MINT,
Assets and liabilities of the United S tat ts
ASSETS.
5
6
7
8
9
10
11
12
13
14
Institutions.
COINAGE MINTS.
Philadelphia .
San Francisco .
Bullion for Philippine
coinage.
Denver .
ASSAY OFFICES.
New York .
New Orleans .
Carson . ] ] ‘
Helena . [ * " ’
Boise .
Charlotte .
Dead wood . ””
Seattle .
Salt Lake City . ’ *
Total .
Gold bullion.
Silver bullion.
Quantity.
Value.
Quantity.
Value.
Stand, ozs.
992, 052. 336
3,898,079.530
Dollars.
18,456,787.00
72,533,572.04
Stand, ozs.
610, 653. 73
727,879.98
249,291.39
1,284,913. 12
Dollars .
387,359.51
359,290.50
219,980.57
020,319.36 .
1,704,628.022
32,830,299.95
3,091,849.849
14,894.601
4,348.754
7,094.242
5,340.624
726,312
34,686. 877
22,157.550
3,961.878
57,522,787.90
277,110.88
80,907.07
143,148.51
99,460.93
13,512.78
045,339.25
412,232.92
73,710.11
1,226,126.93
7,094.59
1,976.81
4,634.40
3,158.90
152. 45
21,828.00
3,937.03
3,065.56
620,543.02 .
3,356.47 .
977.33
2, '316. 66
1,519.46 .
74.82 .
10,917.10 :
1,911.21 .
1,534.63
9,841,027.235
183,088,869.94
4,150,712.89
2,230,100.70 4
Value of
bullion
shipped
coinage.
Dollars.
95,204.86
101,927.35
66,213.55
472,736.05
LIABILITIES.
Institutions.
Bullion fund.
Undcposited
earnings.
Seigniorage
on silver.
Unpaid
depositors.
Minor
coinage
profits.
COINAGE MINTS.
1
Philadelphia. . .
Dollars .
439 fi9n nc
Dollars.
4,2X4.92
11,308.38
Dollars.
Dollars.
Dollars.
2
San Francisco.
vA/j uoo* uo
\7i\ 719 7 A
49,693.55
73,527.56
18,729. 75
3
Denver .
1 WO) i 1Z, / 4
441,542,608.69
82,615. 15
322,770.82
13,556.63
ASSAY OFFICES.
257,937.63
377,565.96
14,612. 13
4
New York .
RQ OQ A AAQ or
313.82
5
New Orleans
aioj jifij W)o. oO
22,980,716.24
326,243.36
322, 266. 90
168, 166.92
23,693. 42
919, 585. 87
3,558. 13
73. 79
6
Carson .
2,466.17
7
8
9
Helena .
2,296.73
Boise .
Charlotte .
144.79
10
11
12
Dead wood. .
QaaI .......
100.31
seaiiie .
Salt Lake City..
603,591.47
285,523.36
893. 69
13
Total .
1,135,548,837.87
21,868.81
390, 240. 33
777,496.26
46,898.51
287
PRODUCTION OF THE PRECIOUS METALS.
mints and assay offices, Dec . 81, 1911.
ASSETS.
Gold coin.
Silver coin.
Credit with
treasurer and
depository
banks.
Minor
coin.
Minor
coinage
metal.
Deficien¬
cies.
Total.
Dollars.
307, 349, 842. f>0
38,710,360.00
Dollars .
106,363,868.16
62,010,806.38
Dollars .
189,713.91
3,499,351.17
Dollars.
709,649.36
20,375.00
Dollars.
256,954.08
7,509. 10
Dollars.
Dollars.
433,714,174.52
177,141,270.85
219,980.57
442,253,346.11
58,998,535.80
22,989,256.20
328,540.09
322,266.90
168,311. 71
23,853.73
919,585. 87
664,485. 16
285,523.36
405,359,672.50
2,090,869. 24
1,276,951.23
855,204.88
233, 788. 85
132,080.83
74,874.38
67,331.32
10,266.13
53,939.23
190,341.03
144,050. 01
59,069. 24
16,164.60
22,475 000.00
iM'o.oo
60,000.00
15. 06
751,499,245.00
192,940,543. 78
6, 727,892.97
789,093.60
280,627. 77
15.06
1,138,029,130. 87
1
2
3
4
5
9
7
8
9
10
11
12
13
14
LIABILITIES.
Minor coin metal fund .
Unpaid cent depositors
and sub treasury and
minor coin transfers.
Government of the
Philippine Islands
and San Salvador.
Total.
Dollars.
116,218.00
14,304.24
40,000.00
Dollars.
831,655.69
20,621.70
Dollars.
220,983.46
Dollars.
433, 714, 174. 52
177,361,251.42
442,253,346.11
58,998,535.80
22,989,256.20
328,540.09
322.266.90
168,311.71
23,853. 73
919,585.87
604,485.16
2S5.523.36
170,522.24
852,277.39
220,983.46
1,138,029,130.87
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
REPORT OF THE DIRECTOR OF THE MINT,
Mutilated and uncurrent domestic gold and silver coins received
Denominat ions .
Double eagles .
Eagles .
Half eagles .
Three-dollar pieces.
Quarter eagles .
Dollars .
Total, face value..
Trade dollars .
Dollars .
Half dollars .
Quarter dollars .
Twenty-cent pieces.
Dimes .
Half-dimes .
Threo-cent pieces... .
Total, face value.
SUMMARY.
Gold coins..
Silver coins.
Gold, coining value. . . ,
Silver, coining value,
subsidiary . .
Loss, gold, value .
Loss, silver, subsidiary
Gain, silver, subsidiary
Gain, silver, net .
Philadelphia.
Received
from
Treasury.
Dollars.
374,440.00
669,560.00
1,150,980.00
12.00
8,635.00
16.00
2,203,643.00
170,201.00
165,824.25
86.20
219,028.60
647.55
84.40
555,872.00
Stand. oz8.
117,620.995
417,365.90
Dollars.
2, 188, 297.58
519, 273. 29
15,345.42
36,598.71
Purchased,
Dollars.
86,730.00
98.330.00
106,975.00
54.00
12,362.50
216.00
304,667.50
141.00
1,121.00
974.50
624.50
245.90
9.95
.72
3,117.57
Stand, ozs.
16, 259. 208
2, 489. 25
Dollars.
302,496.89
3,097.03
2, 170.61
20.54
San Francisco.
Received
from
Treasury.
Dollars.
1,200.00
370,00
430.00
2.000.00
10,000.00
6,500.00
1.40
5,000.00
21.75
21,523. 15
Stand, ozs.
106.140
16,094.29
Dollars .
1,974. 70
20,024.00
25.30
1,499. 15
Purchased.
Denver.
Received
from
Treasury.
Purchased.
Dollars.
9,000.00
2, 120. 00
3,050.00
3.00
67.50
12.00
14,252.50
234.00
39.75
3.40
49. 30
2.05
328.50
Stand, ozs.
752. 211
250.58
Dollars.
13,994.62
311. 76
257.88
16.74
Dollars .
13,750.00
12,000.00
18.00
20,145.00
75.00
12.00
46, 000. 00
Stand, ozs.
34, 276. 32
Dollars.
42, 645.50
3,354.50
Dollars.
100.00
130.00
120.00
15.00
2.00
367.00
103.00
30.00
17.00
6.80
.15
156.95
Stand, ozs.
17. 796
161. 77
Dollars.
331.09
201.27
35. 9F
44.32
ie 3o]~1911.e aSSay °fflC0 at St- L°UlS Cl0sed July l’ 191L Th0 fieures are for the period January 1 to
PRODUCTION OF THE PRECIOUS METALS.
289
for recoinage during the calendar year ended December 31, 1911.
New York,
purchased.
New Or¬
leans pur¬
chased.
Charlotte,
purchased.
Seattle,
purchased.
St. Louis, i
purchased.
Total.
Total.
Received
from
Treasury.
Purchased.
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
116,860.00
8,240.00
160.00
16,060.00
375,640.00
237,150.00
612,790.00
1
193,470.00
7,090.00
130.00
15,100.00
669,930.00
316,370.00
986,300.00
2
343,615.00
16,075.00
200.00
25,670.00
1,151,410.00
495,705.00
1,647,115.00
3
30.00
3.00
12.00
90.00
102.00
4
7,680.00
302.50
5.00
17.50
8,635.00
20,450.00
29,085.00
5
82.00
1.00
16.00
313.00
329.00
6
661,737.00
31,711.50
5.00
490.00
56,847.50
2,205,643.00
1,070,078.00
3,275,721.00
7
141.00
141.00
8
55.00
9.00
1,2S8.00
1,288.00
9
51.50
193,951.00
1,290.00
195,241.00
10
48.50
. 75
184,324.25
730. 50
185,054. 75
11
105.60
3.40
109.00
12
45. 70
2.40
244,173.60
350. 10
244,523. 70
13
4. 95
1.60
744.30
18. 70
763.00
14
.75
96.40
1.47
97.87
15
206.40
13.75
623,395.15
3,823.17
627,218.32
16
l
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
35,220.138
1,683.335
.260
25.651
3,030.660
117,727.135
56,989.259
174,716. 394
17
160.16
11.08
467,736.51
3,072.84
470,809.35
18
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
Dollars.
655,258.38
31,317.86
4.84
477. 23
56,384.37
2,190,272.28
1,060,265.28
3,250,537.56
19
199.26
14.68
581,942.79
3,824.00
585,766. 79
20
6,478.62
393.64
.16
12.77
463. 13
15,370.72
9,812.72
25,183.44
21
7.14
41,452.36
44.42
41,496. 78
22
.93
45.25
45.25
23
.83
.83
24
1
Big
(C
ta
Ca
y
1833.
1834,
1835,
1836,
1837,
1838.
1839.
1840.
18*11 .
1842,
1843.
1844.
1845,
1846.
1847,
1848,
1849
1850
1851
1852
1853
1854,
1855.
1856,
1S57.
1858.
1859.
1860.
1861,
1862.
1863.
1864.
1865.
1866.
1867.
1868.
1869.
1870.
1871.
1872.
OF THE DIRECTOR OF THE MINT,
average price of bar silver in London , per ounce British standard
3 y and the equivalent m United States gold coin , of an ounce 1 000 fine
ige price.
Lowest
quota¬
tion.
Aver¬
age
quota¬
tion.
wn
i
Value of
a fine ounce
• at average
quotation.
Calendar
years.
Dollars.
1.297
1873 .
1.313
1874 .
1.308
1875 .
1.315
1876 .
1.305
1877 .
1.304
1878 .
1.323
1879 .
1.323
1880 .
1.316
1881 .
1.303
1882 .
1.297
1883 .
1.304
1884 .
1.298
1885 .
1.300
1886 .
1.308
1887 .
1.304
1888 .
1.309
1889 .
1.316
1890 .
1.337
1891 .
1.326
1892 .
1.348
1893 .
1.348
1894 .
1.344
1895 .
1.344
1896...
1.353
1897 .
1.344
1898....
1.3G0
1S99 .
1.352
1900 .
1.333
1901 .
1.346
1902...
1.345
1903 .
1.345
1904 .
1.338
1905 .
1.339
1906 .
1.328
1907 .
1.326
1908 .
1.325
1909... .
1.328
1910...
1.326
1911 .
1.322
Highest
quota¬
tion.
Value of
a fine ounce
at average
quotation.
Dollars.
1.29769
1.27883
1.24233
1.16414
1.20189
1.15358
1.12392
1.14507
1.13229
1. 13562
1. 10874
1.11068
1.06510
.99467
.97946
.93974
.93511
1.04634
.98800
.87145
.78030
.63479
.65406
.67565
.60438
.59010
.00154
.62007
.59595
.52795
.54257
.57876
.61027
. 67689
.66152
.53490
.52016
.54077
. 5392S
291
PRODUCTION OF THE PRECIOUS METALS.
Commercial ratio of silver to gold each year since 1687.
Abell’s tables, and from l&Wfrom daS^cabteCTam^from^ondo^S th^R0 1878 fl »01? P,j,xley
since from daily London quotations.] y egrams from London to the Bureau of the Mint, and
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
Years.
Ratio.
1687 .
1688 .
1089 .
1690 .
1691 .
1692 .
1693 .
1694 .
1695 .
1696 .
1697 .
1698 .
1699 .
1700 .
1701 .
1702 .
1703 .
1704 .
1705 .
1706 .
1707 .
1708 .
1709 .
1710 .
1711 .
1712 .
1713 .
1714 .
1715 .
1716 .
1717 .
1718 .
1719 .
1720 .
1721 .
1722 .
1723 .
1724 . .
14.94
14.94
15.02
15.02
14.98
14.92
14.83
14.87
15.02
15.00
15.20
15.07
14.94
14.81
15.07
15.52
15.17
15.22
15.11
15.27
15.44
15.41
15.31
15.22
15.29
15.31
15.24
15.13
15.11
15.09
15. 13
15.11
15.09
15.04
15.05
15. 17
. 15.20
. 15.11
1725.. .
1726.. .
1727.. .
1728.. .
1729.. .
1730.. .
1731.. .
1732.. .
1733.. .
1734.. .
1735.. .
1736.. .
1737.. .
1738.. .
1739.. .
1740.. .
1741.. .
1742.. .
1743.. .
1744.. .
1745.. .
1746.. .
1747.. .
1748.. .
1749.. .
1750.. .
1751.. .
1752.. .
1753.. .
1754.. .
1755.. .
1756.. .
1757.. .
1758.. .
1759.. .
1760.. .
1761.. .
1 1762...
15.11
15.15
15.24
15.11
14.92
14.81
14.94
15.09
15.18
15.39
15.41
15.18
15.02
14.91
14.91
14.94
14.92
14.85
14.85
14.87
14.98
15. 13
15.26
15.11
14.80
14.55
14.39
14.54
14.54
14.48
14.68
14.94
14.87
14.85
14. 15
14.14
14.54
15.27
1763.. .
1764.. .
1765. . .
1766. . .
1767.. .
1768.. .
1769.. .
1770.. .
1771.. .
1772.. .
1773.. .
1774.. .
1775.. .
1776.. .
1777.. .
1778.. .
1779.. .
1780.. .
1781.. .
1782.. .
1783.. .
1784. . .
1785.. .
1786. . .
1787.. .
1788.. .
1789.. .
1790.. .
1791.. .
1792.. .
1793.. .
1794.. .
1795.. .
1796.. .
1797.. .
1798.. .
1799.. .
1800.. .
14.99
14.70
14.83
14.80
14.85
14.80
14. 72
14.62
14.66
14.52
14.62
14.62
14.72
14.55
14.54
14.68
14.80
14.72
14.78
14.42
14.48
14.70
14.92
14. 96
14.92
14.65
14.75
15.04
15.05
15.17
15.00
15.37
15.55
15.65
15.41
15.59
15.74
15.68
1801...
1802...
1803.. .
1804.. .
1805.. .
1800.. .
1807.. .
1808. . .
1809.. .
1810.. .
1811...
1812...
1813.. .
1814.. .
1815.. .
1816.. .
1817.. .
1818.. .
1819.. .
1820.. .
1821...
1822...
1823.. .
1824.. .
1825. . .
1826. . .
1827.. .
1828. . .
1829. . .
1830. . .
1831.. .
1832. . .
1833.. .
1834.. .
1835.. .
1836. . .
1837.. .
1838.. .
15.46
15.26
15.41
15.41
15.79
15.52
15.43
16.08
15.96
15.77
15.53
16.11
16.25
15.04
15.26
15.28
15.11
15.35
15.33
15.62
15.95
15.80
15.84
15.82
15.70
15.76
15.74
15.78
15.78
15.82
15.72
15. 73
15.93
15.73
15.80
15.72
15.83
15.85
1839. . .
1840.. .
1841.. .
1842.. .
1843.. .
1844.. .
1845.. .
1846.. .
1847.. .
1848.. .
1849.. .
1850.. .
1851.. .
1852.. .
1853.. .
1854.. .
1855.. .
1856.. .
1857.. .
1858.. .
1859.. .
1860.. .
1861...
1862. . .
1863.. .
1864.. .
1865.. .
1866. . .
1867.. .
1868.. .
1869. . .
1870.. .
1871.. .
1872. . .
1873.. .
1874.. .
1875.. .
1876. . .
15.62
15.62
15.70
15.87
15. 93
15.85
15.92
15.90
15.80
15.85
15.78
15.70
15.46
15.59
15.33
15.33
15.38
15.38
15.27
15.38
15.19
15.29
15.50
15.35
15.37
15.37
15.44
15. 43
15.57
15.59
15.60
15.57
15.57
15.63
15.93
16.16
16.64
17.75 1
1877.. .
1878.. .
1879.. .
1880.. .
1881...
1882...
1883.. .
1884.. .
1885.. .
1886. . .
1887.. .
1888.. .
1889.. .
1890.. .
1891.. .
1892.. .
1893.. .
1894. . .
1895.. .
18%. . .
1897.. .
1898.. .
1899.. .
1900.. .
1901.. .
1902.. .
1903.. .
1904.. .
1905.. .
1906.. .
1907.. .
1908.. .
1909.. .
1910.. .
1911.. .
17.20
17.92
18.39
18.05
18.25
18.20
18.64
18.61
19.41
20.78
21.10
22.00
22. 10
19.75
20.92
23.72
26.49
32.56
31.60
30.59
34.20
35.03
34.36
33.33
34.68
39.15
38.10
35.70
33.87
30.54
31.24
38.64
39. 74
38.22
38.33
Imports of gold and silver into the United States during the calendar year 191 1.
BY COUNTRIES.
292
REPORT OF THE DIRECTOR OF THE MINT.
17,602 | 41,617
PRODUCTION OF THE PRECIOUS METALS,
293
Imports of gold and silver into the United States during the calendar year 1911— Continued.
BY CUSTOMS DISTRICTS— Continued.
294
KEPORT OF THE DIRECTOR OF THE MINT.
53
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United States during the calendar year 1911.
PRODUCTION OP THE PRECIOUS METALS,
295
1 United States mint or assay office bars.
296
REPORT OF THE DIRECTOR OF THE MINT.
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Exports of foreign gold and silver from
PRODUCTION OF THE PRECIOUS METALS,
297
5 r#
HNCpC
«ON'<
eWVooooo'oqr
jOCO i-i^O
NiCMOOWON
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BY CUSTOMS DISTRICTS— Continued.
298
REPORT OF THE DIRECTOR OF THE MINT,
C3
s
to
e
•c
I
o
f
PRODUCTION OF THE PRECIOUS METALS.
Recapitulation of imports and exports of gold and silver during the calendar
299
Description.
Imports.
Exports.
Excess.
Imports.
Exports.
GOLD.
Contained in domestic ore .
$499,265
$499,265
Contained in foreign ore .
$10, 821 , -kis
$io. S2i,4is
Domest ic bullion .
6,062, 130
6,062,130
Foreign bullion .
30,423,935
6.255.447
9.944.3S4
30,423,935
United States coin .
28, 426,710
2, 194.969
22,171,263
Foreign coin .
7,749,415
Total .
57.445,184
37,183,074
48, 994,768
28. 732,658
Excess of imports. .
20.262,110
SILVER.
Contained in domestic ore .
129,909
64,727
59,644,416
4,889,010
111,705
824, 879
129.909
Contained in foreign ore .
27,395,417
27,330,690
Domestic bullion .
59, 644. 416
Foreign bullion . .
12,995,538
2,211,090
1,144,526
8,106,528
2. 099,3S5
319, 647
United States coin .
Foreign coin .
Total .
43.746,571
65, 664, 646
37,856,250
59.774,325
Excess of exnorts . . . . . .
21,918,075
World's 'production of gold and silver .
CALENDAR YEAR 1909.
Countries.
Uruguay
itral At
merica .
Central
Asia:
Japan .
China . ;
Chosen (Korea).
British India... -
Dutch .
Gold.
Kilo¬
grams
(fine).
North America:
United States .
Canada .
Mexico .
Africa .
Australasia .
Europe:
Russia .
Austria-Hungary -
Germany .
Norway .
Sweden .
Italy .
Spain .
Greece .
Turkey .
France .
Great Britian .
Sc r via .
South America:
Argentina .
Bolivia .
Chile .
Colombia .
Ecuador .
Brazil .
Venezuela .
Guiana—
British .
Dutch .
French .
Peru.
149,975
14,117
35.875
257,280
106, 843
48,723
2,922
104
15
36
4
Ounces
(fine).
4,821,701
453, 865
1,153,400
8,271,575
3, 435,007
1,566,443
93,946
3,348
491
1,168
140
1
2,107
32
226
286
741
4,785
413
3,389
422
1,794
934
3,225
774
138
3,957
5,442
14,072
99
3,000
493
15,586
2,162
3,229
683,201
23
67,754
1,041
7.273
9,186
23, 819
153, 826
13. 273
108, 983
13,576
57,697
30,041
103,708
24,890
4,433
127,229
174,966
452,406
3,174
96,440
15,850
501,097
69,510
103, 832
Value.
$99,673,400
9,382,200
23, 842, 900
170,988,600
71,007,900
32,381,300
1,942,000
69,200
10,100
24, 200
2,900
21,965,111
500
1.400.600
21,500
150, 300
189,900
492. 400
3.179.900
274.400
2. 252. 900
280,600
1,192,700
621,000
2,143,800
514,500
91,600
2. 630. 100
3. 616.900
9.352.100
65,600
1.993.600
327,600
10,358,600
1.436.900
2, 146, 400
454,059,100
Silver.
Kilograms
(fine).
1,702,068
856,282
2, *299, 920
33,486
508,842
4, 109
31,079
165,875
6,629
914
24,467
148, 276
25,786
53,434
19,591
4,415
349
8,246
172,571
13,412
704
6,375
297,540
“7i*3oi‘
128,490
14,494
6, 598, 721
Ounces
(fine).
54, 721,500
27.529,473
73,942,432
1,076,577
1G, 359, 284
132. 122
999, 184
5,332,901
213. 122
29,373
786, 620
4,767.091
829,025
1,717,896
629, 848
141,943
•11,226
265,106
5,548,154
431,204
22,642
204,958
9,566,118
2, 294, 272
4,130,972
465.980
212,149.023
Commer¬
cial value.
$28,455,200
14,315,300
38, 450, 100
559.800
8, 506, S00
68, 700
519,600
2,773,100 .
110.800
15,300
409,000
2, 478,900
431.100
927.700
340.100
73.800
5,800
137,900
2, 885,000
224,200
11.800
106,600
4, 974, 400
’i’i93.’666
2, 148, 100
242,300
110, 364,400
Total
300
REPORT OF THE DIRECTOR OF THE MINT,
World's production of gold and silver — Continued.
\
CALENDAR YEAR 1910.
Countries.
Gold.
Silver.
Kilos
(fine).
Ounces
(fine).
Value.
Kilos
(fine).
Ounces
(fine).
Commer¬
cial value.
North America:
United States .
Canada .
Mexico .
Africa .
Australasia .
Europe:
Austria-Hungary .
France .
Germany .
Great Britain .
Greece .
144,853
15,356
37,482
263,602
98,511
3,269
2,569
95
60
4,657,017
493, 707
1,205,051
8,474,809
3,167, 140
105, 101
82,580
3,042
1,914
$96,269, 100
10,205,800
24.910.600
175, 189,900
65.470.600
2, 172,600
1,707, 100
62,900
39,600
1,777,229
1,022,372
2,219,975
32,260
670, 165
47,925
22, 178
174,091
4,242
27,419
14,574
7, 153
12,255
4,374
57,137,900
32,809,264
71,372, 194
1,037, 160
21,545,82 8
1,540,808
713,028
5,597,026
136,370
881,539
468,566
229,989
394,000
140,632
$30,854,500
17,749,400
38,541,000
560, 100
11,634,700
832,000
385,000
3,022,400
73,600
476,700
253,000
124,200
212,800
75,900
Italy .
Norway .
Portugal .
Russia .
Servia .
44
2
4
53,535
1,430
66
133
1,721,163
29,600
1,400
2,800
35,579,600
Spain .
129, 158
616
53,434
8, 188
201,871
4, 152,430
19,823
1,717,896
263,255
6,490, 163
2,242,300
10,700
927,700
142,200
3,504,700
Sweden .
Turkey .
South America:
Argentina .
Bolivia .
Chile .
Brazil .
3
1
260
} 698
2,941
5,071
375
1,795
1,193
3,354
686
138
512
7,008
16,128
5,504
2,177
5,097
83
5,905
6,619
85
95
23
8,372
22,429
94,557
163,022
12,054
57,697
38,344
107,835
22,055
4,433
16,472
225,302
518.502
176,960
69,988
163,852
2,655
189,837
212,808
2,733
2,000
500
173,100
463.600
1.954.700
3,370,000
249,200
1.192.700
792.600
2.229. 100
455,900
91,600
340,500
4,657,400
10,718,400
3> 658,100
1,446,800
3.387. 100
55,000
3,924,300
4.399. 100
56,500
Colombia .
Ecuador .
Guiana—
British .
26,939
704
866,093
22,642
467,700
12,200
Dutch .
French .
Peru .
Uruguay .
206, 125
6,626,930
3,578,500
Venezuela .
Central America .
Asia:
British India .
China .
6,471
63,044
1,392
208,043
2,026,885
44,772
112,300
1,094,500
24,200
East Indies —
British .
Dutch .
Indo-China .
14,494
465,980
251,000
Japan .
Korea .
Siam.
142,257
5,127
4,573,562
164,844
2,469,700
89,000
Total .
685,015 22,023,178
455,259,800
6,896,032
221,707,622 119,722,600
301
PRODUCTION OF THE PRECIOUS METALS.
World's production of gold and silver— Continued.
CALENDAR YEAR 1911.
Gold.
Countries.
Kilos
(fine).
Ounces
(fine).
Value.
North America:
United States .
145,787
14,089
37,430
30
288,201
90, 557
3,288
2,509
95
4,687,053
472,241
1,203,573
907
9,205,072
2,911,410
105,705
82,580
3,042
1,914
$90, 890, 000
9.702. 100
24,880,100
20,000
1^1,538, 400
00, 184,200
2. 185. 100
1.707.100
62,900
39,000
Canada .
Mexico .
Cuba .
Africa .
Australasia . / .
Europe:
Austria-Hungary .
France . . .
Germany .
Great Britain .
00
Greece .
Italy .
67
2,165
44,800
Norway .
Portugal .
4
115
2,400
32, 151,600
265,300
Russia .
48,377
399
1,555,333
12,833
Servia .
Spain
Sweden .
3
95
2,000
Turkey .
1
23
500
South America:
Argentina .
435
13,979
11,517
289,000
Bolivia .
QCQ
238, 100
Chile .
> uOo
Brazil .
5,770
185,490
3,834,500
Colombia .
4,700
153,241
3, 107,800
Ecuador .
410
13,389
276,800
Peru .
080
22,055
455,900
TTmeruav .
100
3,422
70,000
Vpnp7iiela .
549
17,648
364,800
Guiana:
British _ .......
1,342
43, 149
892,000
523,400
2,229, 100
3,360,400
Dutch _ ......
788
25,320
Fronph _ .....
3,354
107,835
T X . .
pnnffol A mprica
5,050
162,558
central iuucuw» .
Asia:
Omfich Tnnia ......
10,033
534,744
11,054,100
3,314,600
jiirtisii luujt* . .......
4,987
100,344
East Indies:
.
2,015
64,791
1,339,400
3,387,100
55,000
4,007.500
o cco dnn
T'l ntnh _ . ........
5,090
163,852
83
2,655
lDflO-v . . *
6,030
193,865
139,774
2,733
Japan .
4,348
Z, ooy. -iUU
r.p =00
85
oo, ow
. .
694,400
22,327,088
461,542,100
Silver.
Kilos
(fine).
Ounces
(fine).
Commer¬
cial value.
1,878,675
1.018,375
2,458,241
60,399,400
32,740,748
79,032,440
$32, 1 15, 700
17, €80, 000
42, €77, 500
33,096
515,658
1,004,050
16,578,421
574,600
8,952,300
47,862
22, 178
174,091
4,242
27,459
31,060
9,085
3,667
14,841
1,171
129, 158
617
53,434
1,538,772
713,028
5,597,026
136,370
882, 796
998,576
292,075
117# 894
477, 140
37,635
4, 152,430
19,823
1,717,896
830,900
385,000
3,022,400
73,600
476. 700
539,200
357.700
63, 7C0
257.700
20,300
2,242,300
10,700
927.700
6,318
203,111
109,700
139,394
4,481,518
2, 420,000
1,469
25,425
704
206,125
47,222
817,431
22,642
6,626,930
25,500
441,400
12,200
3,578,500
13,589
436,903
235,900
37,090
1,211,747
654,300
3,245
104,323
56,300
14,494
465,980
251,600
137,307
294
4,414,421
9,446
2,383,800
5, 100
7,008,964
225,338, 194
121,682,300
76347°— 13 - 20
302
REPORT OF THE DIRECTOR OF THE MINT.
index.
A.
Abyssinia, coinage 1910 and 1911 . Page.
Africang'room record’ San Francisc'o mint'.' : ; ; ; ; ;;;;;;;;;;;;; . 103
Monetary statistics. ...
Production of gold and silver,' details . . 201
Alo reduction of gold and silver, 1909, 1910 and 1911 . 274
Alabama, production of gold and silver ’ . 299
Alaska production of gold and silver . 226
Algeria: 217
Imports and exports of gold and silver . 0„_
. Production of gold and silver, details . . . ztl
All income and expenditures . ™
Appalachian States, production of gold and silver .' . o9fi 9J
Appropriations for 1912 . .
Appropriations, estimates of 1914. . ! . . * . ’ . .
Approximate silver product of United States _ ... . . 2*>7
Arabia, monetary statistics of . . . 176
Arizona, production and consumption of gold and silver . . 218
Argentina:
Monetary statistics of . 131
Production of gold and silver, details of . 256
Production of gold and silver, 1909, 1910, and 1911 . 299
Arts:
Gold and silver used in United States. 1911 . 233
Gold and silver used in United States and classification of material used
since 1880 . 234
Gold and silver in the world . 236
Asia:
Monetary statistics of .
Production of gold and silver . - ----- . 2™
Production of gold and silver, 1909, 1910, and 1911 . 299
Asiatic countries, industrial consumption .
Assay commission, proceedings of, 1912 .
Assay office at New York- . ’ gj
Assayers’ department . 4g
Deposit melting room . . 4f)
Description of new installation . . . .. - - - 1;- - - . 49
Electrolytic parting and refining of bullion . 50
Gold systems . . 47
Refining department . . 49
Silver systems. - -- -- -- -- . . 48
Treatment of sweeps — - . . . . . * " . 52
Assay office at Seattle, operations of . 54
silverbara, modifi'cation of Gay-Lussac method .
^^,1909, mo and 1911 . ""I;:::::::::::::::::::::::::::: 230
Industrial consumption. - - — . . .
ScUoSolISldSdSlver: 1909, 1910, and 1911.. 208
Australia, monetary statistics . 103
AU8tcdn^gS. 191 vnd 1911 . 236
Industrial consumption . 303
304
INDEX.
Aust ria-Hungary— Continued . Paec-
Monetary statistics . 1-13
Production of gold and Bilvcr, details of . 260
Production of gold and silver, 1000, 1010, and 1011 . 299
Average, highest, and lowest prices of silver . 246
In London since 1833 . . . 290
Price of an ounce of gold in London since 1870 . 102
B.
Balances, receipts, and disbursements of gold bullion . 57
Bars, gold certificate on hand Juno 30, 1912 . . ^ 5
Cold, exchanged for gold coin, and gold bullion — . . 17, 235
Belgian Kongo, production of gold and silver, details of . 274
Belgium:
Coinage, 1900, 1910, and 1911 . 103
Monetary statistics of . . . . . 146
Blanks purchased for uso in minor coinage . 14
Bolivia:
Coinage, 1009, 1910, and 1911 . 103
Monetary statistics of . 132
Production of gold and silver, details of . . . 257
Bolivia -Chile:
Production of gold and silver, 1909, 1910, and 1911 . 299
Production of gold and silver, details of . 254
Boma-Kongo, monetary statistics . 204
Brazil:
Coinage 1909, 1910, and 1911 . 103
Monotarv stat istics of . 132
Production of gold and silver, 1909, 1910, and 1911 . 299
Production of gold and silver, details of . 257
British Colonies, production of gold and silver . 270
British East Africa, coinage, 1909, 1910, and 1911 . 103
British East Indies:
Production of gold, 1909, 1910, and 1911 . 299
Production of gold aud silver, details of . 270
British Guiana:
Coinage, 1009, 1910, and 1911 . 103
Monetary statistics of . 135
Monetary statistics, details of . 157
Production of gold, 1909, 1910, and 1911 . 299
British Honduras, coinage of 1910 . 103
British India:
Imports and exports of bullion and coin . 190
Industrial consumption . 239
Mint and coinage.. . 193
Monetary statistics of . 188
Production of gold and silver, 1909, 1910, and 1911 . 299
Production of gold and silver, details of . 265
British North America, production of gold and silver, details of . 252
British North Borneo, production of gold and silver, details of . 270
Bronze blanks purchased for use in minor coinage . 14
Bronze, gold, silver, and nickel operations . 55
Bulgaria:
Coinage, 1910 . 103
Monetary statistics of . . . 148
Bullion, gold, certificates, bars on hand . 5
Gold deposits . 11
Gold receipts and dispositions . 57
Imports and exports to and from London . 242
Mints and assay offices, June 30, 1912 . 63
Mints and assay offices, December 31, 1912 . 244
Owned by Government and bullion upon which chargee were collected by
refineries . 16
Silver deposits and purchases . 12
Silver deposits of foreign . 12
\ alue of the silver dollar at the average price of silver since 1837 . 11*2
By-products of Government refineries . 17
INDEX.
305
c.
Canada:111’ production and consumption of gold and silver . ' ^
Coinage, 1909, 1910, and 1911 .
Industrial consumption. . 103
Monetary statistics of . . . . . ".!!!!!!!! . 236
Production of gold and silver, i909, 1910, "and’im .
Production of gold and silver, details of . . o-o
Lmi ted States gold coin in . 252
Cape Colony (South African Union):" . 65
Monetary statistics .
Production of gold, details of....!!!".”!!”” . i-A
Central America: .
Industrial consumption . .
Production of gold and silver, 1909, 1910* and "mi.” . onq
Production of gold and silver, details of . . . . .
Certificate gold bars on hand . . e
Ceylon: 5
Coinage, 1909, 1910, and 1911 . 103
Monetary statistics of Colombo . ’ ‘ . . . 186
Monetary statistics of . !!!!!!!!!!!..!!!!””” 186
Changes and improvement in equipment, mint at San Francisco. . . ...!. . . 99
Chile:
Coinage, 1909, 1910, and 1911 . 103
Monetary statistics of . ....." 134
Production of gold and silver, details of . 257
Chile-Bolivia:
Production of gold and silver, 1909, 1910, and 1911 . . . 299
Production of gold and silver, details of . 257
China:
Coinage, 1909, 1910, and 1911 . 103
Industrial consumption . 237
Production of gold, 1909, 1910, and 1911 . 299
Production of gold and silver, details of . 265
Monetary statistics of —
Amoy customs district . 180
Chungking customs district . 178
Foochow customs district . 181
Hongkong . 1J8
Kiaochau, coinage by Germany for . 254
Mukden customs district . 178
Nanking Mint . . . .
Newchwang customs district . loi
Shanghai customs district .
Swatow customs district . . 1
Tientsin customs district . 150
Chosen (Korea):
Coinage, 1909, 1910, and 1911 .
Production^f gold and" silver, 1909, 1910, and 1911 . 299
Production of gold and silver, details of .
Coins: . . inio . 73
Foreign, changes in value, . . . -mg
Foreign, melted by certain countries . 72
Foreign, values of . 14
Minor, distribution of ........ v - • * . . 15
Minor, issued, melted, and outstanding . 17
Proof and medals manufactured . 55
United States, in Canada . . j ; : . “ ” . 284
Coinage by United States, calendar year 1911, table . . 12
Fiscal year 1912, table . . . ! ! ! ! ." ! ! ! ! . 13, 15
For Philippines, fiscal year 1912 . . 13
For Philippine Government, 1912 . 13
For San Salvador .
306
INDEX.
Coinage of the United States:
Authority for coining, changes in weight and fineness, table .
By denominations and value since 1792, table .
Dies, life of .
Fine ounces and value since 1873, table .
Fiscal year 1912, table . . '
Metal purchased for minor .
Minor .
Minor, seigniorage on, table . .
Seigniorage on, salver and minor, table .
World, 1909, 1910, and 1911 .
Coiner, position abolished June 30, 1912 .
Coiners and melters and refiners’ operations .
Coiners’ department, mint, San Francisco:
New equipment installed and results of experiments made and improve¬
ments achieved .
Colombia:
Coinage, 1911 .
Monetary statistics of .
Production of gold and silver, 1909, 1910, and mi . . . ! . .' .* " .*
Production of gold and silver, details of .
Colombo, Ceylon, monetary statistics of .
Colorado, dredging in 1911 . " "
Colorado, production and consumption of gold and silver. .. . ! . .
Commercial ratio of silver to gold since 1687 .
Copper purchased, quantity and cost for use in minor coinage .
Cost of minor coinage blanks and metal purchased
Costa Rica:
Coinage, 1910 .
Monetary statistics of . i i i ... .
Production of gold and silver, details .
Course of silver .
Cuba:
Monetary statistics .
Production of gold, details of .
Production of gold, 1911 .
Page.
104
116
13
107
10
14
15
101
101
103
74
55
29
103
135
299
258
186
220
219
291
14
14
103
126
254
246
130
254
299
Denmark:
D.
Coinage, 1909, 1910, and 1911 .
Monetary statistics of .
Denomination of a gold proof and relation between surcharge
Denver mint operations:
Assaying department .
Coining department . ’ '
Melting and refining department .
Deposit melting room, assay office, New York . '
Deposits and purchases of gold .
Calendar year 1911 . ’ ”
Fiscal year 1912 . ]
Since 1873 . .
Deposits and purchases of silver .
Calendar year 1911 . .
Fiscal year 1912 . .
Since 1885., fine ounces .
Dies, coinage life of . !!!!!!!!!!"" .
Disbursements, receipts, and balances, 1912. 1 ! 1 '!!!!!!!!
lscovery of platinum arsenide in refinery furnace product.
Distribution and production of gold 1 .
Distribution by States and Territories . .
&J4 and. silver product of United States, estimate of director 1911
"lv,!r pr0duct oI the S tales, Mil, ^ rented by miBe
Domestic uncurrent coins received'for'reooinMre .
Dredge production of gold, 1911 . . . g .
Dredging in Colorado in 1911 . .
103
149
30
41
43
42
46
11
280
76
104
12
282
80
105
14
57
35
70
228
229
84
2S0
220
INDEX.
307
Dutch East Indies:
Coinage, 1909, 1910, and 1911 . . ^
Production of gold and silver, details of . . oyn
Production of gold, 1909, 1910, and 1911 . .
Dutch Guiana: .
Moi etary statistics of .
Production of gold, 1909, 1910, and 191 i . " ‘ ) ' ' ' ' ’ ‘ ’ ‘ ' ‘ ' 299
E.
Earnings, expenditures, and deposits of all offices fiscal year 1912 . 54
Expenditures of the refineries, mints, and the assay office at New York. ... 8
Expenditures fiscal year 1912, table . . . 88
East Indies:
Production of gold and silver, 1909, 1910, and 1911 . ... 299
Production of gold and silver, details of . 270
Ecuador:
Monetary statistics of . 135
Production of gold and silver, 1909, 1910, and 1911 . 299
Production of gold and silver, details of . 258
Egypt:
Coinage, 1910 and 1911 . 103
Monetary statistics of . 201
Production of gold and silver, details of . 274
Electrolytic parting and refining of bullion, New York assay office . 49
Electrolytic refineries . - . "
Employees, number of, in service . . . . . *
Employees to be appointed by the Secretary of the Treasury . 74
Estimated stock of gold and silver in United States since 1873 . 04
Estimates of appropriations for 1914 . °
Ethiopia, coinage for, by France .
Europe: . . . 143
Production of gold and siiver, 1909, 1910, and 191 1 . JfiO
Production of gold and silver, details of - - ■ - - - ; - * . , y 935
Exchange of fine gold bars for gold coin and bullion.. . >
Expenditures and all meomepn account of nunt.en-.ct . . »
Expenditures and appropriations fiscal year 191 . ; . 88
Earnings, fiscal year 1912, . . 14
Distribution of minor coins, fiscal year l.H- . . g
Expenses and earnings of refineries. . . . . 37
Experiments in rolling strips of metal . . . 24
fcpSKSES JSKSaa* *••• -.a ^ ■■■■■ £
United States, fiscal year 1912, table. . . 292
Principal couu tries of t the world.’.: ! . . ^
. 241
F.
201
Federated Malay States. 270
Monetary statistics. ... - . .
Production of gold and sin er, [03
. l'-ri
is vain** X piVa/feai i-g* . ; I:;:: I:::: : I 12
coin deposi“' ^ y“r .
308
INDEX.
Formosa." gold mines of .
France: .
Coinage, 1909. 1910. and 1911 .
Industrial consumption .
Monetary statistics of . [
Production of gold and silver. 1909. 1910. and 1911
Production of gold and silver, details of. .
Prench colonies, coinage of 1909. 1910. and 1911
rrench Guiana: .
Production of gold. 1909. 1910. and 1911
Production of gold, details of . j " '
G*
Page.
269
103
237
151
299
261
151
299
258
Gains from operations, wastage, and loss on sale of sweeps fiscal vear ] Q i “> se
Georgia production of gold and silver 1 . n. cai j ear 191 - 06
German East Africa: . 226
Coinage, 1909, 1910. and 191 1 .
Comage for, by German v . .
Germany: 154
Comage. 1909, 1910. and 1911 .
Industrial consumption JU->
Monetary statistics of . ^ . 238
°( ?°Jd and silver, 1909.' 1910, and ] 91 1 " " " " . Joo
r i Mbon ?f gold and slIyer. details of. . . . .
Goldand silver bars furnished for use in the arts . Zh 1
Coinage, fine ounces and value since 1873 ... 1 . . Ti™
Imports and exports, calendar year 1911. table. . oo->
Imports and exports, fiscal year 1910. table . aZ
Imports mto and exports from British India since 1873 . o<o
Ownership in United States. 1912 . . 2£
Product as reported by mine owners . . 9oq
!SX : : ; : : : ; *
Stockand per capita in L nited States since 1873. . . /■!
Gol<h average price in London since 1870 ! . 7^
Bara e.ewSS f°r go!4 C0in and gold bullion, calendar year ini . 035
Bars exchanged for gold com and gold bullion, fiscal year 1912 . 1?
Bare i®ued by assay office. New York.... jeariyi . 1,
Bullion S g°m exP°rt<?d from New York, calendar vear 1911 . ">95
on g°1 C°ln ?*P°rted from New York, fiscal vear 1912 ?!
Bullion a g°}j ^H1 ^“Ported from New York, calendar vearlVll . “>?•?
Bui °n and gold com reports, fiscal vear 1912. ' 1911 . 292
|SS ^S'Spy,irT«2disbur“"“,“’ S
Bullion mass melts and' the determination of silver . 1!
Bullion receipts and disposition, fiscal vear 191° .
Certificate bare on hand. June 30 191^ 5 ^ . 57
Comage by L nited States, calendar vear 1911 "o', hie . 5
Coinage of United States, fiscal ySrl9L2 table . 2S4
Com and gold bullion exported from New York . 90> 292
aBfes
Sffi.Uni ted Smesin CanST** ™******^™ ™70- .' . . . V. .. 1 . . . .* §
cSmed in Iht £ j! rn-lei Itates’ • 91 1 • ■ • * ' • — - - - . 41
Consumption of the worldF 19l“ °d Stat<>S 81"Ce 1880 . .' 234
ieP08.^ a.nd purchases at mints and . 236
,280
104
236
68
102
INDEX.
309
Gold, monetary stocks .
Movement from port of New York, fiscal vear 1912 .
Movement to India .
Operations of melters and refiners,' and coiners.' fiscal year 1912
Output by dredging . J
Product, approximate disposition of’ United States' 1911
Product, approximate of United States, 1911 .
Product, United States, since 1792 .
Production, distribution of . " * ” ’ ' ‘ ’ '
Production, by dredging .
Silver, nickel, and bronze operations, fiscal year 1912* . ! . . .... .
Gold system, refining department, assay office, New York .
Total production in the Appalachian States .
Used in the arts .
Used in the arts in United States, 1911 .
Since 1880 .
Government refineries, work of .
Great Britain:
Coinage, 1909, 1910, and 1911 .
Industrial consumption .
Monetary statistics of .
Production of gold and silver, 1909, 1910, and 1911 .
Production of gold and silver, details of .
Great Britain and colonies:
Coinage, 1909, 1910, and 1911 .
Monetary statistics of .
Production of gold and silver, 1909, 1910, and 1911 .
Great gold mines .
Greece i
Coinage, 1910 and 1911 .
Coinage for, by France .
Monetary statistics of . - - - • - .
Production of silver, 1909, 1910, and 1911 .
Production of silver, details of .
Guatemala:
Monetary statistics of .
Production of gold and silver .
GU1 Production of gold, 1909, 1910, and 1911 .
British coinage of, 1909, 1910, and 1911 - .
British * production of gold and silver, detail o .
Dutch ’production of gold and silver, details of. .
French, production of gold and silver, details of .
H. •
hSMowS yeaVwi i .'"V" I ! i
£55 SS £5 IT 5 SKK — »» .
Honduras. - _ q-i -i . * .
Coinage, 1910 and 1911 . .
Monetary statistics of . . *•-•••- . .
.
I»
asaKflas?
SiendaVyiV ! . : : : ! : : ! : 1 : 2 • • ; : : : ; : ; ; : ;
Fiscal year 191^». ^fthe- world . .
Principal country of. . .
United States gold coin since
Page.
68
61
68
55
221-230
.. 228
.. 226
.. 232
70
221, 230
55
50
. 230
233, 236
. 233
. 234
16
. 103
. 238
. 157
. 299
. 261
. 103
. 157
. 299
. 278
. 103
. 152
160
299
261
127
255
299
103
258
258
258
131
246
249
290
103
128
254
255
103
103
221
90, 292
242
242
292
90
245
71
310
INDEX.
Page.
Improved method of melting and handling minor coinage metal . 24
Improvements in coining press . . 27
Improvements in minor coin plant . 27
Income and expenditures of mint service . 8
India:
Coinage, 1909, 1910, and 1911 . 103
Gold movement to . 68
Imports and exports of bullion and coin . 241
Industrial consumption. . . . 239
Monetary statistics of . 188
Indo-China:
Coinage, 1909, 1910, and 1911 . 103
Coinage for, by France . 151
Production of gold, 1909, 1910, and 1911 . 299
Production of gold, details of . 267
Industrial arts, gold and silver used in, in United States, 1911 . 233
Since 1880 . 234
Industrial consumption of gold and silver in the world . 236, 241
Institutions of issue . ’ 68
Invention of new form of ingot mold . . . 25
Italian Somaliland, coinage of, 1910 . *""’*’* 103
Italy:
Coinage, 1909, 1910, and 1911 . 103
Industrial consumption . 239
Monetary statistics of . ’’’’’’ *’’’ 161
Production of gold and silver, 1909, 1910, and 1911 .’I!!!!!!!!!!!!!!!!!!!! 299
Production of gold and silver, details of . 261
Japan:
Coinage, 1909, 1910, and 1911 . . 103
Monetary statistics of . * 194
Production of gold and silver, 1909, *1910* and 19li. .... . . .’ ....... ! 299
Production of gold and silver, details of . 267
K.
Kongo, Belgium, production of gold and silver, details ot . 274
Korea (Chosen):
Comage, 1909, 1910, and 1911 . 103
Monetary statistics of . 196
Production of gold and silver, 1909 1*9*10* *and’i9li ...... . ! ....... . 299
Production of gold and silver, details of . 269
L.
Laboratory Bureau of the Mint, work of . 58
Liabilities and assets, mints and assay offices, calendar year wii ‘table of. ... . *. ! ! 286
Mints and assay offices, fiscal year 1912, table. ... 86
Lichtenstein, coinage of 1910 . . 103
Life of coinage dies . .*....*. . 14
Locations of moneys of United 'States, June 30, 1912. 64
Stock of metallic and paper money in United States, December 3 i, mi! ! 243
Loss and wastage on sale of sweeps and gains from operations . 56
Lourenco Marquez (southeast Africa) monetary statistics of . 206
nowest, highest, and average price of silver, calendar year 1911. . *>49
In London, use since 1833 . . 99O
Luxemburg, monetary statistics of . . ’ ’ ’ ’ “ " .\\\\\\\\\\* . . 155
M.
Machine shop, work of, Philadelphia Mint. . .
Madagascar:
Industrial consumption .
Monetary statistics .
Production of gold and silver, details of
18
239
204
274
INDEX.
311
Maskat Oman, monetary statistics of . ^77
Mass melts of gold bullion, the determination of silver . oq
Medals and proof coins manufactured . . 17
Melters’ and refiners’ and coiners’ operations! !!!!!!!!!!’! . 55
Positions abolished . . . 74
Metallic stock in United States December 31, 1911 ... . . ! . . . . . . . . . . . . . . . . ! ! ! ! '63, 244
Method of assaying, modification of the Gay-Lussac method . ’ 32
Mexico:
Coinage, 1909, 1910, and 1911 . 103
Industrial consumption . 240
Monetary statistics of . 125
Production of gold and silver, 1909, 1910, and 1911 . 299
Production of gold and silver, details of . 254
Michigan, production of silver . 229
Minor-coinage blanks and metal purchased, quantity and cost . 14
Minor-coin metal, improved method of melting and handling . 27
Minor-coin plant improvements . 27
Minor coins:
Distribution, expenditures for, fiscal year 1912 . 14
Issued, melted, and outstanding . - .
Recoinage of, fiscal year 1912 . ®
Seigniorage on, fiscal year 1912 . . - - - - . - • • - .
Uncurrent, transferred from Treasury, fiscal year 1912 .
Minor-coinage blanks and metals purchased. . . . .
Minor coinage of United States, calendar year 1911, table . ~ 14*~
Operations . . . ’12
Operations of melters and refiners and comers, fiscal >ear J JJ- . 101
Seigniorage on, fiscal year 1912 .
Mint at: . . 41
Denver, operations . . 4, 17
Philadelphia, operations . !!!!!!!!!!!! . 4, 29
San Francisco, operations .
M°nFSo^Sto°be appointed by the Secretary of the Treasury . «
31Stock'in United States December 31, 1911^ ■ ■ • • - - • • • ; ; ; ; ; ; ’ ;
Mon^C8to°ck ofin location of.'.'.!! ! ! ! ! ! ! ! •' -
Monto^f . . ! • !
Montenegro, comage 1909 ana mm-
Morocco: .
Coinage of, 1914 . .
Coinage for, by France. . — ; ; ; ; . .
Morocco, monetary statistics of ~ — york, fiscal year 1912 .
Movement of g°lcMr°If £ 0c goid and silver, details ot .
Mozambique, production of gom
N.
66
243
68
63
64
221
103
103
152
202
61
275
of ,,sv::::7 v::: : .
Netherlands. iqio and 1911 . .
^ggj^^isssfffis.- .
275
256
14
55
14
62
103
239
163
270, 299
222
103
312
INDEX.
New Mexico, production and consumption of gold and silver
New nickel p'eees .
New South Wales:
Monetary statistics of .
Production of gold, details .
New York assay office operations .
Assaying department . .
Deposit melting room . .
Description of new installation . ^ .
Electrolytic parting and refining bullion . " " .
Gold system .
Refining department . .
Silver system . ’ “ ’ ' ’
Treatment of sweeps .
New Zealand:
Monetary statistics .
Production of gold and silver, 1009. 1910, and 1911 . ”
Production of gold and silver, details of .
North America:
Monetary statistics .
' Production of gold and silver, 1909, 19l6’ and 1911 .
North Carolina, production of gold and silver
Norway:
Coinage, 1909, 1910, and 1911 .
Production of gold and silver, 1909, 1910, and 1911 .
Production of gold and silver, details of. . .
Monetary statistics of .
Nova Scotia, production of gold and silver. .
Numismatic collection, the state of . ” ” j '
O.
Offices of the service .
Oil-burning furnaces, trial of, Philadelphia mint .
Operations: .
Assay office, New York .
Assay office, Seattle . .
Assay office, other . . .
Government refineries . . .
Mint, at Denver. . . ’ ’ ’ '
Mint, at Philadelphia .
Mint, at San Francisco .
and refiners and coiners, fiscal year 1912.
Mel ter and refiners and coiners, positions abolished.
Mints, fiscal year 1912 .
Oregon, production and consumption of gold and silver
Ownership of gold and silver in United States, June 30,' 1912
Page.
222
5
... 210
. . . 273
. . 3, 44
51
46
49
49
50
47
49
48
.. 213
.. 299
.. 270
.. 124
.. 299
.. 226
.. 103
.. 229
.. 262
164
252, 299
18
3
24
3,44
’ 52
54
16
41
4,17
4, 29
55
74
17
233
63
Panama:
P.
Monetary statistics of .
Production of gold and silver, details of. . . ! ....... I!.!.!!!..!..”.!!.!..!.
Paper money and metallic stock in United States December 31, 1911....... .
Paraguay, monetary statistics of .
Parting and refining bullion operations. ....... ....... . i . ! . .].!.! . . . .’ . ' * *
^Dewm^ierSl^on countT*eso^ World, monetary systems and stock of money
Persia, coinage’, 1909,’ mo’ and 1911.'.'.’.’.'. . ! .
Peru : . .
Coinage, 1909, 1910, and 1911 .
Production of gold and silver, 1909, 1910, and 191 i.
m Production. of gold and silver, details of. . . .
I lnladelphia Mint., fiscal year 1912, operations .
Assaying department .
Carpenter and machine shops . " .
Coining department . .
Engraving department . . .
129
256
244
137
16
66
103
103
299
258
17
21
18.20
25
28
index.
313
Page.
24
. 25
ijurwhKdon >,i‘i("ndirefi[nffmiiiv . •".’I.'."”":::::;;;;;; %
of ai? electric crucible furnace . 28
D,.,. a!* of the numismatic collection . . 24
i!, Government, coinage for bv UnitoH StVt^oV ion .
Philippine Islands, coinage 1909, 1910 and 1911 ’ . 13’15
Production of gold and silver 103
Recoinage . 228
Pieces, average number struck per die . 15
p^umcoa,^ddueotta of gJa “ry of' “ ptoduct.'..; :::::::::: U
Portugal: 228
Coinage, 1909 and 1910 . lnq
Industnal consumption . • . .
Monetary statistics . ” .
Production of gold and silver, 1910 and 1911. .’ . oqq
Production of gold and silver, details . <>62
Portuguese India, monetary statistics of . *"!!!!!!”!”!”!! 168
Positions of melter and refiner and coiner abolished . 74
Proceedings of the assay commission, 1912 . * ” ’ ' 59
Product of gold and silver compared, 1910 and 1911 . 228
Gold and silver in United States from 1792 . 232
Product of gold of United States . 226
Gold and silver distributed, by States . 228
Gold and silver, 1910 and 1911, increase or decrease, by States . 228
Gold and silver of the United States as reported by mine owners, as to
source of production . 229
Silver, distribution as to source . 230
Silver of United States . . . . . - . . 227
Production and consumption of gold and silver in the United States, 1911 details. 217
Alaska . - 217
Appalachian States . 226, 230
Arizona . “J8
California . 2118
Colorado . - .
Idaho. . * . <>21
Montana . 222
Nevada . 009
New Mexico . 223
Oregon . 2<>3
South Dakota . 224
Texas . ... 224
Utah . . . 225
Washington . . . 225
Pr0<OfCMia and value, table. . . ^ »
gtf ^^fd^S-ApHa-eh^siaW. : : : : : : : 1 : : : : : : : : . «•
Production of gold and silver: 252
Foreign countnes . . 250
World since 1 860 . . ■ : . . . — - - 302
\Vnrld ’ sine - discovery of America. . - - - • - . . 215
gS&JSSfcbto the United states, »il . ;;;;;;;;;;;;;;; . 17
Pulf hasef qnantity^ami cost of metaY for use in mines coinage . •“
R.
. 291
Ratio of silver to gold sme* '®L'«nVes’ of gold bullion .
*"®i2SSS3« . .
314
INDEX.
Page.
Recoinage of minor coins . . 15
Philippine coins . 15
United States silver coins since 1891 . 65
World . 109
Refineries, earnings and expenditures of, fiscal year 1912 . 8
Electrolytic . 3
Government, by-products . v . 17
Government, work of, fiscal year 1912 . '. . 16
Refinery charges collected . . - . 16
Refinery furnace product, the discovery of platinum arsenide . 35
Refining department, assay office, New York . 47
Rolling mills, introduction of 16-inch rolls . 27
Roumania:
Coinage, 1910 and 1911 . 103
Monetary statistics of . - . 168
Russia:
Coinage, 1909, 1910, and 1911 . 103
Industrial consumption . . . 239
Monetary statistics of . 169
Production of gold and silver, 1909, 1910, and 1911 . 299
Production of gold and silver, details of. . 262
S.
Santo Domingo, monetary statistics of . 131
Sale of sweeps, loss on, and wastage from operations, fiscal year 1912 . 56
San Francisco Mint, operations of . 4, 29
Adjusting room record . 40
Assaying department . , . 34
Changes and improvement in equipment . 29
• Coining department . 37
Discovery in a refinery furnace product of platinum arsenide . 35
Determination of silver in mass melts of gold bullion . 33
Melting and refining department . 35
Modification of the Gay-Lussac method of assaying fine silver bars . 32
New coinage equipment installed, the results of experiments made, and
improvements achieved . 37
Platinum arsenide, a furnace product . 35
Relation between the surcharge and the denomination of a gold proof. ... 30
San Salvador:
Coinage, 1909 and 1910 . 103
Coinage made by United States . 13
Monetary statistics of . 129
Production of gold and silver, details of . 256
Sarawak, coinage, 1910 and 1911 . 103
Seattle assay office operations . 52
Seigniorage on subsidiary silver and minor coins . 101
Servia:
Monetary statistics of . 170
Production of gold and silver, 1909 and 1911 299
Production of gold and silver, details . | . . 269
Siam:
Coinage, 1909 and 1910 . 103
Monetary statistics of . 197
Production of gold, 1909, 1910, and 1911 . . . . . ” 299
Production of gold and silver, details of . . . 269
Silver and gold in transit, table . . . ’ . 100
Silver and gold bars furnished for use in tiie arts. . . . . . . . . . . . . . . 234
Coinage, calendar year 1911 . 284
Coinage, fiscal year 1912 . “l2
^Coinage, by acts since 1792 . ” ” ’ . . 107
Coinage by mints since 1792 . . . no
Coinage, fine ounces and value, since 1873. . ! ! ! . 106
Imports and exports . 292
Imports into and exports from British India since 1873. . * " 242
Ownership . . . . ----------- ^
Product as reported by mine owners' as to source of production 229
INDKX.
315
8ilv<;r and gold 5a r«, production of world, 1909. J9jo. afld 1911 '"J'vr
lW .u-t .on o world wince I860, fine oui.<« and value .
Production since 1792 . . .
U**l in the ind .wt rial arm, United 8 uim. . ^
P*od in the industrial arte, world . . Zjj
Stock in the United State* since 1873 . .......................... <a
Sliver bars, fine ifUAli(ifaLi/>N of the Qtty*LuMac method aeavinc w
Commercial ratio to gold wince 1687. . . *>.
f Coinage for I
Philippine Government . . . . . . . . 13
(Coinage for Han Salvador .
291
15
13
Ilepowits and purchase*, calewlar year J9J I . ’ 282
hepowifx and purcliases, fiscal year 1912. . * 12,80
Deposit* wince 1880 . 105
hollars, used in subsidiary coinage . . 05
Exported from f-ondon to the East wince 1881 . 241
Highest, lowest, and average price . 240
Increased or decreased production by State* . 228
In mas* molt* of, gold bullion dciemii nation . , . 33
Price r/f, during calendar year 19 J 1 . 249
Price of, in London wince 1833.. . 290
Product, approximate distribution . 227
Product distributed, by .States . ; . j®8
Product distributed ax to source of production . 230
Seigniorage on coinage .
Somaliland, Italian, coinage, 19J0 . *Jf.
South African Union (Cape Colony;, monetary rtalwtic* of . Mo
South America: ~ lft>
(Coinage of 1909, 19J0, and . . 240
Industrial consumption . '* ^
^rsfiSnofgldd aid 'sUvct 1909* J9W, and 1911 . g*
Production of gold and silver, details of . ^
South Carolina, production of gold-... . * \\\\\.\\\. \ 223
^::: : . . ~
Southeast Africa (Lourenjo J
-
Coinage. 1910 and 1911 . . 239
Industrial consumption . . 171
Monetary statistics of . ~ . 299
PrmluSm of silver, 1900. 1910 and 1911 . . . ; . 264
Prod action of gold and sil ver details of--- y - * . . 64
. ::::::::
~ *“ .
Coinage JwU* tyuif .
Monetary statist i<» '"V jj ’ j'gKi, 1910, and 1911
L j t if sSSdfilSd^A' .
Production of gold and
.
103
239
173
101
103
173
299
204
5ft
48
103
239
173
316
INDEX.
T.
Tables for calendar year 1911: Page.
Assets and liabilities, mints and assay offices . 286
Coinage of the United States . . . 284
Commercial ratio of silver to gold since 1687 . 291
Domestic production, deposits, and purchases of gold . 280
Domestic production, deposits, and purchases of silver . 282
Exports of domestic gold and silver . 295
Exports of foreign gold and silver . 297
Highest, lowest, and average price of bar silver in London since 1833 . 290
Imports of gold and silver . 292
Mutilated and uncurrent domestic coins for recoinage . 288
Production of gold and silver in the world since 1493 . 302
Recapitulation of imports and exports . 299
World’s production of gold and silver, 1909, 1910, and 1911 . 299
Tables for fiscal year 1912:
Assets and liabilities, mints and assay offices . . . 80
Average price of an ounce of gold in London since 1870 . 102
Bullion value of a silver dollar since 1837 . | 102
Coinage by acts since 1792 . . . ’ ’ ’ 497
Coinage of gold and silver, fine ounces and value, since 1873 . 106
Coinage of nations 1909, 1910, and 1911 . * 103
Coinage of United States by mints . HO
Deposits of gold since 1873 . . . 104
Deposits of silver since 1885, fine ounces . . ’ ." 105
Domestic exports of gold and silver . . 94
Domestic production, deposits, and purchases of goid . 76 78
l omestic production, deposits, and purchases of silver . 80 82
Earnings and expenditures . • ’ gg
Foreign coins melted by certain countries . 108
Foreign exports of gold and silver . . qg
Imports of gold and silver . . qO
SS&'tffi'SaS d.0,n.e.8*ic *•
Seigniorage on subsidiary silver and minor coin . 101
Summary of imports and exports . . ion
transient and transshipments of gold and silver . inn
Tasmania, monetary stat istics of . . . J??
1 ennessee, production of gold and silver . 99ft
Texas, production of gold and silver. . . . 99I
T™PqrCh^S?d for ,u.se in minor coinage . . .* . u
Transvaal, monetary statistics of . . 9^7
Tnv!!)duCtl0“ wf g0,d and eiIver. details of . 97s
Travancore, coinage of 1911.... ?£>
Treatment of sweeps, assay office, New York. i ! [ ! i ; ] i ; ; ] ; ; ] ' ; ‘ ; ; ; ; ; ; ; ; 43
. iS
1911 . .
^aSSsS£:“==z 1
Coinage, calendar year 1911
Coinage, fiscal year 1912 . 284
Coinage, fine ounces and valueVince 1 87a . 12
V •«*. "” tc. .
Coinage, since organization. 107
. 110
INDEX.
317
United States — Continued.
Coinage, 1909, 1910, and 1911 .
Gold coin imported and melted by various countries, 1911
Gold coin in Canada .
Production of gold, 1909, 1910, and 1911 . ! .*!
Production of gold and silver, 1911, details of .
Uncurrent silver dollars used in subsidiary coinage .
Uruguay:
Monetary statistics of .
Production of gold, 1909, 1910, and 1911 .
Production of gold and silver, details of .
Utah, production of gold and silver .
Page.
. 103
71
65
. 299
226, 227
65
. 137
. 299
. 259
. 224
V.
Values of foreign coins . . .
Value of foreign coins, changes in 1912 .
Venezuela:
Coinage, 1910 and 1911 .
Coinage for, by France .
Monetary statistics of . .
Production of gold and silver, 1909, 1910, and 191 1
Production of gold and silver, details of .
Virginia, production of gold and silver .
72
73
103
152
138
299
259
226
W.
225
Washington, production of gold and silver — - . v ‘ i vVVr iqi? 56
Wastage and loss on sale of sweeps, and gains from operations, lut al > . - - - ^
West Africa, production of gold, details of . 16
Work of Government refineries . . .
World: 103
Coinage . 251
Since 1873 . 103
Coinage, 1909,1910, and 1911, table.-....--. . 245
Imports and exports of gold and silver, table . . 236, 241
Industrial consumption of gold and silver . 66
!??::: ::::::: SS
WyoS^i-iion'o/goidVndaiver::::: . 225
z.
. 207
line,1 etc. "p urclSdforand used in minor comage .
’ 76347°— 13 - 21
o
Ih
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v>\t;.>\;,-. >rS'?*^ N.^Vi-'--. 'A..,', r,'1 v VW>.“''>\'v'>hv.>XV*'.-.' ^ ; : .1
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k sSIBk Jb£®h^-SU ^ c. m'v- . ^;. -v
. . - •■ • : • .. ■■•\^. <>v; .f'iK v* ° A v. . . .,_
titoMi
iMlMitthiTiriiiiri1-iir t
y
ANNUAL REPORT OF THE
Director of the
FOR THE FISCAL YEAR
ENDED JUNE 30
1910
4
WASHINGTON
GOVERNMENT PRINTING OFFICE
Treasury Department,
Document No. 2602.
Director of the Mint .
2
CONTENTS.
REPORT.
Volume of coinage .
Automatic machines . . 5
Reduction in coinage operations . 3
New Orleans mint idle . . g
The minor assay offices . ^ g
Gold certificates against bullion . *’ ’ . 7
Deposits of gold bullion . 8
Deposits and purchases of silver . . 1 ^ 10
Deposits of gold since 1873 . . 11
Deposits of silver since 1885 . . . 22
Coinage of the United States . 12
Recoinage of standard silver dollars . ’ 23
Recoinage of uncurrent silver coin . 23
Coinage of the United States, weight and value since 1873 . ] . 14
Philippine coinage . 14
Work of Government refineries . 16
Purchases of silver . * * * ’ 2 6
Balances of silver bullion . !....... 17
The course of silver . ’’ 27
Earnings and expenditures, mints and assay offices . 28
Appropriations . ’ 28
Earnings and expenditures of refineries . 29
Consolidated statement of expenditures, by items . 20
Laboratory of the Bureau of the Mint . ’ 21
Proceedings of the assay commission, calendar year 1910 . . 21
Operations of the mints of the United States . . 23
Operations of the assay office at New York . **’*' 39
Operations mint at New Orleans . ~ 42
Operations of the minor assay offices of the United States . ’ 44
Bullion operations, legal allowance, and wastage, fiscal year 1910 . 46
Operations of the ingot melting room . ’ 47
Percentage of loss in melting deposits . 49
Wastage and loss on sale of sweeps and gains from operations . 50
Receipts and disposition of gold bullion, 1910 . ’ 51
Balances, receipts, and disbursements . *’ 52
Cost of maintenance . . . 52
Freight charges on bullion and coin . ’ ” 53
Movement of gold from port of New York . ' ’ " ’ 53
Net exports United States gold coin . 54
Stock of money in the United States . 54
Stock of gold and silver in the United States since 1873 . . . 56
United States gold coin in Canada . * ’ * 53
Gold and silver used in the industrial arts in the United States, 1909. . . . ... 56
Exchange of gold bars for gold coin and gold bullion . . . 59
World’s industrial consumption of precious metals, 1909 . ’ ’’ 59
Product of gold and silver in the United States in 1909 . . . . . . 59
World’s coinage, by calendar years, since 1873 . . 60
Foreign coins melted by certain countries . !!!!!!!!!!!!!!! 61
United States coins imported and melted by various countries. . 62
Recoinages of the world . ’ " ’ [ * [ . 32
Value of foreign coins . . 63
Monetary legislation . . . . 35
Monetary statistics of foreign countries . . . 66
3
4
CONTENTS.
APPENDIX.
Page.
1* — Domestic production, deposits and purchases of gold, by weight . 70
2. Domestic production, deposits and purchases of gold, by value . 72
3. — Domestic production, deposits and purchases of silver, by weight . 74
4- Domestic production, deposits and purchases of silver, by value . 76
5. — Bars manufactured, by weight . 7g
6. — Bars manufactured, by value . 7g
7. — Coinage, fiscal year 1910 . ” ’ * * [ * ’ * ’ ^ 73
8. t ncurrent domestic coins, by denominations and face values, received
from the Treasury and purcnased over the counter.. . 80
9— Assets and liabilities, fiscal year 1910 . . . g2
10.— Earnings and expenditures, fiscal year 1910 . ] . . . . ’ ’ ’ ] ’ ’ ‘ ' [ “ ] ' ' ’ ’ ‘ * g4
II- Imports of gold and silver, by customs districts . gg
12. Imports of gold and silver, by countries . gg
13. — Exports of domestic gold and silver, by districtsand countries . .7 . * ! ' * ' on
14. Exports of foreign gold and silver, by districts and countries. 94
10.— Nummary of imports and exports . .
1^- Transit and transshipment of gold and silver. ........ q/?
17.— Seigniorage on silver, fiscal year 1910 . . . 07
18'“AUniKLl£eT8™e.°f. ^ “ L-don and 'equivalent value’ in
W.-Bulhon value of the silver dollar at the annual average price of silver'from
9?‘Zpriii0? °f,§old ,anij silv.er Vn United States since i?92,’ by y'eare ' ' 99
o.V “?duct °j and silver m the world since 1860. * J ” inn
of r^tlo?s> 1907> 1908, and 1909 . . JJ?
* . * . 122
REPORT
OF THE
DIRECTOR OF THE MINT.
Treasury Department,
Bureau of the Mint,
January 6, 1911.
Sir: In compliance with the provisions of section 343, Revised Stat¬
utes of the United States, the following report covering the operations
of the mints and assay offices of the United States during the fiscal
year ended June 30, 1910, being the thirty-eighth annual report of the
Director of the Mint, is respectfully submitted :
VOLUME OF COINAGE.
The value of the coinage executed at the mints in the fiscal year
ended June 30, 1910, was less than in the preceding year, and con¬
siderably below the value of the gold deposits. The gold deposits in
the fiscal year 1909 amounted to $142,124,941.59 and the gold coin¬
age of that year was $120,399,953.35. The gold deposits in the
fiscal year 1910 amounted to $126,767,967, and the gold coinage for
the latter period was only $47,578,875. The principal reason for
not doing more coinage was that automatic weighing machines were
under construction which were expected to materially reduce the
cost of weighing the individual coins, and pending their completion
gold bullion was allowed to accumulate.
AUTOMATIC MACHINES.
For a number of years the machine shop of the Philadelphia Mint
nad been at work developing an automatic weighing machine to do
away with the hand weighing of each individual coin produced. The
first machine was completed in 1907, was a success, and exhibited at
the Jamestown Exposition. About that time, however, the experts
who were engaged upon this machine were called upon to build a
machine for the customs service, which they were successful in doing,
but the task diverted them temporarily from the equipment of the
mints. Four machines were completed by the end of 1908, and early
in 1910 the Philadelphia machine shop began work upon four more.
These machines have now been completed and are in use, three in
5
6
REPORT DIRECTOR OF MINT.
San Francisco, two in Denver, and three in Philadelphia. They are
very satisfactory and have accomplished an important reduction in
the number of employees in the mints.
During the year an automatic feeding apparatus was placed upon
all the coining presses in the Philadelphia Mint, accomplishing a con¬
siderable reduction in the number of employees required to operate
the 21 presses in that institution. These feeds have also been intro¬
duced at Denver and ^an Francisco. Similar apparatus had pre¬
viously been attached to the upsetting machines.
REDUCTION IN COINAGE OPERATIONS.
An important reduction in the amount of work for the mints to do
has occurred in recent years by reason of the cessation in the coinage
of silver dollars and the practical completion of the Philippine stock.
The silver bullion purchased under the act of July 14, 1890, was
exhausted in 1905, and the coinage of dollar pieces, which had’ been
at the rate of 1,500,000 per month, ended with it. The record coin¬
age for the mints is that of the fiscal year 1902, which amounted in
■value to §228,202,151.55, not including 12,552,629 pesos in silver and
a considerable minor coinage for the Philippines, and 2,730,000 pieces
for foreign countries. 1
There w< ere in operation in this record year only three mints, to wit,
those at Philadelphia, New Orleans, and San Francisco. The open¬
ing of the new mint at Denver in 1905 came, therefore, almost simul-
0onp°«n J lmP°rtant eduction in the amount of coinage to be
wf ai d at a ilm^’ moreover, when new labor-saving machines and
reqS^616 t0 Senously dlminish the number of employees
NEW ORLEANS MINT IDLE.
opImtionsin^lfnMhf infl+uenwf has been to force a scaling down of
Orleans Mim The T* asuaPe?s!on of coinage in the New
• r nmoui1lt ,of S°ld which is available for coinage at
ZZ Orleans is small, and the total coinage of the countrv can be
ya
be no likelihood that the mint could ad van’ll aPPeannS to
tions in the near future, the estimates for ion ?U 7 ,resume ^P6™'
the conduct of the institution as nn « .19«>1 lav? been made f°r
priations asked total $17 940 whirW assay °,ilce only. The appro¬
priated for the fiscal year 1911. ’ompares with $107,300 appro-
HIE MINOR ASSAY OFFICES.
a0dVt‘lru^l™p™H0drfthe reason^ °ffi,oes Charlotte
handled is unimportant and that th ? f lat Hle vcdum0 °f business
them co„,d without much iucoutmtSlnTttm'bumo'ri,^ £
REPORT DIRECTOR OP MINT.
7
the mints, thus saving the Treasury not only the cost of maintaining
the offices, but the cost of transporting the bullion to a mint. The
larger part of the deposits at the St. Louis office come from Chicago
and Cincinnati and the depositors could as well send them direct to
the Philadelphia Mint as to St. Louis.
When the policy of maintaining assay offices in the producing dis¬
tricts was entered upon, the gold production of the country was
chiefly from placers and by the labor of individual miners working
claims on their own account. The Government assay offices were
designed to serve these mining communities by giving reliable assays
and by melting the placer dust and nuggets into bars, which were
returned to the depositor with the weight and fineness stamped upon
them ; that is to say, they performed in a simpler manner the func¬
tion of a mint. Later, the further step was taken, by way of increas¬
ing the service of these offices to the public, of buying the bullion at
its coinage value, thus saving the miners from the exactions of the
bullion buyer. This was done in 1878, and still later Congress inau¬
gurated the policy of shipping the bullion to the mint at the expense
of the Treasury instead or collecting the transportation charge from
the depositor. This policy is still maintained.
It is apparent that the conditions surrounding the production of
gold and which prompted the establishment of these assay offices have
radically changed. At the time the offices at Denver, Helena, and
Boise were established, not only was the production chiefly at the
hands of individual miners who were obliged to dispose of their
gold on the spot, but these localities were distant from a railway and
the risks and cost of transportation were a serious handicap to the
producers. When these offices were established, the country was
using inconvertible paper as currency, and it was deemed a wise
public policy to encourage the production of the precious metals and
the exploration and development of the districts an which these metals
were known to exist. At the present time, however, our gold produc¬
tion is mainly by well-organized companies and from ores, which are
commonly shipped to smelters or reduction works, and the product
eventually reaches the offices of the mint service at some distance
from the place of production. A large share of the receipts of these
assay offices come to them by express, in many instances costing the
shippers practically as much as would shipment direct to a mint.
For example, a producer in Nevada, who ships bullion to the assay
office at Salt Lake City, as a number of them do, might as well ship
it direct to the San Francisco Mint, thus saying the Government the
expense of transporting it from the assay office to a mint.
In view of these conditions Congress may well consider whether the
service now rendered by these offices warrants the expenditure for
their maintenance.
GOLD CERTIFICATES AGAINST BULLION.
In the report of this bureau for the fiscal year 1902, the director
called attention to the uselessness of coining all the gold bullion and
foreign coin received at the mints, and again in the report for 1904
the embarrassment occasioned by the statutory requirement that so
8
REPORT DIRECTOR OF MINT.
much of the reserve fund must be kept in coin was pointed out. The
paragraph in the 1902 report is as follows:
It is opportune here to call attention to the fact that the gold coinage of the country
is now entering almost entirely into storage and that the cost of coinage is an unneces¬
sary expense. The Treasury holds now about $500,000,000 of coined gold, which is
doubtless more than will be called for in a generation to come. Practically all of the
current coinage is being deposited in the Treasury for certificates. When gold is
required for export it is wanted in bars, while for domestic circulation the public
prefers the Treasury certificates, which, with some modifications of the statutes, might
as well be issued against bars.
The case is stronger now than then, for the amount of coined gold
in the Treasury is more than double the sum held at that time.
In the report for 1904 I said:
There has never been any continued demand upon the Treasury for gold except for
export, and a demand for export is always a demand for bars, the exporters prefer
bars because the latter are always of full weight, while all coin that has been in circu¬
lation is to some extent abraded. During the six months from January 1, 1904, to
m1904, Prefentations of United States legal-tender notes for redemption
SWVTon vtm™6™ k° only ?6’o91’240, while in the same time the Treasury gave
$60, / 90,511 in gold bars m direct exchange for gold certificates. At times in the last
\° T6eut]ie denJand for bars 48 fast 38 ^ came, and some coin
Itl/cW W0Uld n0-* haye g0?e if bars bad been available.
C°mwpellmg the mmts to work bars UP into coin
“bemg taken for export because bars can not be had. And it is eciuallv nlain
£ bare ^a8'lry W°Uld ““ W TCakened »>’ ««»!*>* a larger pro^onS
• Practically the entire gold production of this continent is soiner
the°form of coin }rt ^TTi ™s#old "ill neve“be wantfdif
. . orm °f corn It will be held as the basis of our monetary system
afeays pretoSnl0e?rZeu0plefarefL?d; and il th« they ^li
pSiylf! sSr S*?3 pyS: £P£i° vi
action ^
JJLPOSITS OF GOLD BULLION.
and assay offices during t he &ca Wear1 d«posits at tlle mints
redeposits during the year £Kk irW“ §126,767,967. The
office to another and bars’ bearing bullion transferred from one
assay offices, amounted to $35 519 671 ThiVf °nef °/ the mints or
and uncurrent domestic and ’foreign bni« Va-Ue ^e gold bullion
posits, amounted to S165 890 770* °m received, including rede-
receipts. ♦ioo,89o,779, which was the total of gold
EEPORT DIRECTOR OF MINT.
9
REDEPOSITS OP GOLD BULLION.
The redeposits contained 1,909,182 standard ounces of gold of the
value of $35,519,671, fine bars representing 13,050 standard ounces
($242,781), and unparted bars representing 1,884,257 standard
ounces ($35,055,942), as follows:
Bars manufactured at—
Unparted bars deposited at—
Fine bars deposited at—
Philadel¬
phia.
San Fran¬
cisco.
Denver.
Philadel¬
phia.
New York.
San Fran¬
cisco.
Ph iladel nh ia
Stand, ozs.
Stand, ozs.
Stand, ozs.
Stand, ozs.
51
Stand, ozs.
Stand, ozs.
New Orion ns
746
886,201
36,417
92,028
4,751
15,199
32,262
Nftw York
545
47
Boise
6,124
13,736
Holpna
Charlotte
St. T^inls
12,406
I)pad wood
4,855
Carson
69,284
342,392
Seat tie
331,800
48,432
Salt Lake City .
Total .
1,067,604
411,676
404,947
12,457
545
47
There were redeposited at the Philadelphia Mint 11,8/ 6 standard
ounces of gold “mint” bars, made at the assay office at St. Louis,
resulting from deposits of uncurrent domestic coin. In addition to
the above, there were 9 ounces of gold contained in unparted bars
from the Charlotte office deposited at New ^ ork, and 20 ounces in
unparted bars from the Helena office deposited at the Helena office.
DEPOSITS OP FOREIGN GOLD BULLION AND COIN.
Foreign gold bullion containing 847,200 standard ounces, of the
value of $15,761,852, and foreign gold coin containing 21,781 standard
ounces, of the value of $405,226, were deposited, and consisted of
bullion and coin produced in the following-named countries.
Source.
Crude bullion.
Refined bullion.
Coin.
Standard
ounces.
Value.
Standard
ounces.
Value.
Standard
ounces.
Value.
British Columbia ....
57,207
10,561
615
5, 164
47,949
2,719
88,241
125,578
6
35
$1,064,313
196, 490
11,434
96,078
892,064
50,588
1,641,703
2,336,349
109
646
7,241
$134,717
North west Territory .
Ontario and Quebec .
Nova Scotia .
Mexico..
501,848
9,336,714
West Indies.
Central America .
South America .
17
312
207
678
3,851
12,614
Australia....
Africa .
1,082
13,394
129
95
67
499
5,405
249, 189
2,409
1,775
1,249
9,277
100,545
Other .
1 C
v uucr ......
Total .
lo
338,093
6,290, 109
509, 106
9,471,743
21,781
405,225
10
REPORT DIRECTOR OF MINT.
DEPOSITS AND PURCHASES OF SILVER.
x, J5e d®Poslts of,sl]vfr received at the mints and assay offices durino-
Ju^ 23, 1906Ced WGight aDd &leness’ ^authorized by°SHcrof
sfe^SftS: If- K£S
Items.
Silver purchased . . " -
For Philippine coinage transferred for recoinage . . . ‘ "
Total.
Standard
ounces.
2S2.4S5.34
2.313.355.55
607.354.47
2,551,151.24
1,546. 2S4. 86
or silver bDLUOm.
1 lie redeposits contained 2 238 snu . . ,
bars representing 103,806 stSd oUn “ “un n°T,f ' L°f sUver; finc
stanH»rH 1,113 standard ounces- mint h’a p; arted bars represent-
standard ounces as follows : ’ 4 bars representing 373,586
Made at—
Philadelphia
New Orleans
Carson....
New York
Boise .
Helena.
Charlotte!
St. Louis
Headwood
Seattle. . .
Salt Lake City
Total .
t nparted bars deposited
at —
Philadel¬
phia.
Other small unparted
Stand. 023.
49
132
15,895
67,266
537
1,378
46. 126
San Fran,
cisco.
Stand. 023.
32,4 it;
46,239'
2,917
6,304
5.599
45.406
19,836
Fine bars
deposited
at New
York.
Stand. 02s.
88,590
15,216
103,806
contained 12 standard
Mint bars
deposited
at Phila¬
delphia.
Stand, ozs.
373,586
373,586
ounces.
REPORT DIRECTOR OP MINT
11
DEPOSITS OF FOREIGN SILVER BULLION AND SILVER COIN.
Foreign silver bullion containing 1,291,378 standard ounces of the
coining value of $1,502,695 and foreign silver coin containing 14,706
standard ounces of the value of $17,113 were received from various
countries as follows:
Countries.
Crude
bullion.
Refined
bullion.
Coin.
British Columbia .
Stand . ozs.
11,357
2, 146
91,692
328
824,511
360
76,440
36, 742
130
Stand, ozs.
Stand, ozs.
Northwest Territory .
Ontario and Quebec . .
123,602
Nova Scotia .
Mexico .
124,058
39
West Indies .
Central America .
1,443
1,485
South America .
China .
Germany . . . . .
8,344
169
3,226
Other nnclaosifieH .
8
Total .
1,043,714
247,660
14,706
$
Deposits of Gold at United States Mints and Assay Offices since 1873.
Character of gold deposited.
Fiscal
year
ended
June 30—
Domestic
bullion.
Domestic
coin.
Foreign
bullion.
Foreign coin.
Surplus bul¬
lion, grains,
iewelers’
bars, old
plate, etc.
Total.
1873 .
1874 .
1875 .
1876 .
1877 .
1878 .
1879 .
1880 .
1881 .
1882 .
1883 .
1884 .
1885 .
1886 .
1887 .
1888 .
1889 .
1890 .
1891 .
1892 .
1893 .
1894.. ..
1895 .
1896 .
1897 .
1898 .
1899 .
1900. . . .
1901 .
1902 .
1903 .
1904 .
1905 .
1906.. ..
1907 .
1908 .
1909.. .
1910.. .
$28,868, 569. 78
29. 736. 387. 82
34,266, 124. 52
37,590, 529. 39
43,478,103. 93
48,075,123. 76
38,549, 705. 89
35,821,705. 40
35,815,036.55
31,298, 511.97
32.481.642.38
29,079, 596. 33
31, 584, 436. 64
32,456, 493.64
32,973,027.41
32,406,306.59
31.440.778. 93
30,474,900.25
31.555.116.85
31.961.546.11
33.286. 167.94
38,696, 951.40
44.371.949.83
53,910,957.02
60.618. 239. 77
69,881,120. 57
76. 252. 487. 23
87.458. 836.23
92.929.695.86
94,622,078. 39
96.514.298.12
87,745,626.63
101.618. 315.38
103,838,268.01
114,217,462. 44
111.735.877. 77
119,727,439.13
104,974,558. 73
$27,116,948.27
6.275.367.29
1,714,311.50
417.947.15
447, 339. 68
301,021.79
198,083.17
209,328.82
440.776.97
599,356.80
374, 129. 23
263,117.17
325.210.97
393, 545. 28
516,984.63
492,512.60
585,066.87
655,474.96
583.847.16
557,967.86
792,470.43
2,093,615.46
1,188,258. 21
1,670,005.53
1,015,314.39
1,187,682.99
1.158.307.57
1,389,096.68
1,116,179.86
1,488,448.16
960, 907. 95
2. 159. 818. 57
3,404,966.63
1,514,291.19
2.754.283.29
3.989.772.90
3,432,288.62
3.603. 139.90
$426,107.44
3,162,519.92
739, 439. 66
1,141,905.76
1,931,163.12
2,068,679.05
1,069,796.89
21,200,997.23
37,771,472.26
12,783,807.04
4,727,143.22
6,023,734.45
11,221,846.45
4,317,068.27
22,571,328.70
21,741,042. 44
2, 136,516. 66
2,691,932.29
4,054,822.86
10,935, 154.69
2,247,730.78
15,614,118.19
14,108,435.74
6,572,390.14
9,371,521.03
26,477,370.06
30,336,559. 47
22,720,150.22
27,189,659.12
18,189,416.90
16,331,058.92
36,802,224.39
17,645,526.82
36,317,864.38
36,656,545.85
71,774,350.81
16,021,521.02
15,761,852.42
$518,542. 14
9,313,882.47
1,111,792.26
2,111,083.80
2,093,260.73
1,316,461.09
1,498,819.71
40,426,559.63
55,462,385.74
20,304,810.78
6,906,083.80
9,095,461.45
7,893,217. 77
5,673,565.04
9.896.512.28
14,596,885.03
4,447,475.99
5,298,773.93
8,256,303.80
14,040,187. 70
6,293,296.33
12,386,406. 81
2,278,614.07
3,227,409.06
13, 188,013.86
47,210,077.84
32,785,152.48
18,834,495.53
27,906, 489. 13
13,996,162.21
8.950.595.28
46, 152,783.87
15,141,678.08
6,648,511.63
17,221.251.40
13,684,426.46
1,034,377.62
405, 225. 55
$774,218.25
654,353.56
724,625.96
681,819.32
837,911.25
907,932.20
937,751.14
1,176,505. 77
1.343.430.93
1.770. 166.36
1.858.107.42
1.864.769.26
1.869.363.26
2,069,077.00
2,265,219.85
2.988.750.90
3.526.597.31
3,542,013.83
4,035,710.15
3,636,603.68
3,830, 176.02
3,118,421.45
3.213.809.43
3.388,622.06
2,810,248.66
2.936.943.37
2.964.683.90
3.517.540.93
3.959.656.64
4,284,724.22
4.247.582.64
4,892,930.88
5,568,482.95
4.790.558.31
5.731,111.55
6,231.547.01
5,341,603.82
5,626,330.84
$57,704,385.88
49,142,511.06
38,556,293.90
41,943,285.42
48,787,778.71
52,669,217.89
42.254.156.80
98,835,096.85
130,833,102.45
66,756,652.95
46,347,106.05
46,326,678.66
52,894,075.09
44,909,749.23
68,223.072.87
72,225,497.56
42, 136,435.76
42,663,095.26
48,485,800.82
61,131,460.04
40,449,841.50
71,909,513.31
65,161,067.28
68.769.383.81
87,003,337.71
147,693,194.83
143,497,190.65
133,920,119.59
153,101,680.61
132,580,829.88
127,004,442.91
177,753,384.34
143,378,969.86
153. 109. 493. 52
176.580.654.53
207,415,974.95
145,557,230.21
130,371,107.44
Total.
2,172,313,974.59
77,387,186.50
592,854,774.66
507,607,032.35
113,919,902.C8
3,464,082,870.18
12
REPORT DIRECTOR OF MINT,
Deposits op Silver at United States Mints and Assay Offices since 1885.
Fiscal year ended
June 30—
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906.
1907.
1908.
1909.
1910.
Total.
Character of silver deposited.
\
Domestic
bullion.
Fine ounces.
24,943,394
25,101,639
29,293,372
28,921,649
29,606,387
29, 187, 135
50,667,116
56,817,548
56,976,082
15,296,815
6,809,626
4,420,770
3,914,985
2,116,690
5,584,912
4,977,978
2,466,749
1,425,060
12,523,630
9,991,187
4,923,655
2,398,871
20,388, 163
16,114,553
5,375,389
1,547, 145
Domestic
coin.
451,790,500
Fine ounces.
678,741
216,015
5,848,585
1,202,177
394,346
466,302
637,652
5,036,246
5,346,912
5,012,060
3,015,905
3,170,768
2,208,953
1,243,050
6,060,986
3,587,992
2,613,570
2.275,090
*2,511,911
2 2,072,397
1 1.337,242
8 960,801
770. 269
786,085
659,935
548,821
58,662,811
\ ISc'udS ffi'SS ntt °unces g^iian coin,
inciuaes 148,788 fine ounces Hawaii™ „„i„
Foreign
bullion.
Fine ounces.
1,627,619
1,145,017
1,127,213
1,290,390
1,063,900
1,852, 155
1,767,908
1,556,618
1,738,711
994,901
1,362,141
680,757
626,085
209,987
716,077
1,088,019
1,306,149
1,152,023
1,110,463
1,361,701
1,906,410
3, 165, 170
2,552,003
2,963,399
2,326.847
1,172,240
37,863,903
assay coins,
assay coins.
special assay coins
,T,~ coins.
Foreign coin.
Surplus bul¬
lion, grains,
jewelers’
bars, old
plate, etc.
Fine ounces.
867,856
628,545
271,166
67,549
328,276
951, 162
1,970,912
349,652
505,171
422.725
15,291
150,942
101,157
6,808
19,382
44,704
4,250, 196
29,265
21,869
3 4,039, 100
*7,796,761
1 1,348,991
8 4,963,403
9 9,005,007
10 7,342,229
1,404,882
40,903,001
Fine ounces.
336,981
361,316
396,656
485,190
502,223
526,270
633,073
572,661
582,728
467,958
580, 125
604,386
473,755
249,468
484,751
557,831
567,647
575,430
627,108
652,015
739,310
632,544
636,722
648,007
520,715
460,935
13,875,805
Total.
Fine ounces.
28,454,591
27,452,532
36,936,992
31,966,955
31,895,132
32,983,024
55,676,661
64,332,725
65,149,604
22, 194,459
11,783,088
9,027,623
7,324,935
3,826,003
12,866,108
10,256,524
11,204,311
5,456,868
16, 794,981
18,116,400
16,703,378
8,506,377
29,310,560
29,517,051
16,225,115
5,123,964
609,085,961
COINAGE of the um-T.n ces Philippine coins for recoinage.
T1 , . * ^ates FOR THE FISCAL YEAR 1mo
ie domestic coinage was as follows:
REPORT DIRECTOR OF MINT
13
STANDARD SILVER DOLLARS USED IN SUBSIDIARY SILVER COINAGE.
There were purchased as bullion and melted at the mints and
assay offices 961 mutilated silver dollars during the fiscal year 1910,
which were used in the manufacture of subsidiary silver coin.
The following have been used since 1883:
Fiscal years.
Amount.
Fiscal years.
Amount.
Fiscal years.
Amount.
Fiscal years.
Amount.
1 QCQ
$621
1891 .
$10,800
42,881
10,500
15,055
18,580
2,034
1,898
1,365
1899 .
$1,734
1,341
1,786
1,893
1,777
1,304
2,298
909
1907 .
$1,548
1,170
1,293
961
IOOO . .
1884
1892 .
1900 .
1908 .
1,850
1893
1901 .
1909 .
JLOCW .
1894 .
1902 .
1910 .
1887
8,292
14,055
31,042
11,977
1895 .
1903 .
Total .
188,964
1 CCS
1890 ..
1904 .
1889
1897 .
1905 .
1890
1898 .
1906 .
RECOINAGE OF UNCURRENT UNITED STATES COIN.
The table following shows the face value of abraded subsidiary coin
transferred and purchased for recoinage, the amount ol new com
made therefrom, and the loss since 1891:
Fiscal years.
Face value.
Value of new
coin produced.
Loss.
1891.
1892.
1893.
1894.
1895.
1896.
1897.
1898.
1899.
1900.
1901.
1902.
1903.
1904.
1905.
1906
1907
1908
1909
1910
$910,046.69
7,118,602.78
7.618.198.25
7, 184,472. 17
4,361,761.36
4,627,141.46
3,197,998.50
6,109,772.32
8.584.304.26
5,261,070.35
3,832,280.69
3,333,437.06
3,008,747.98
2.828.384.90
1,964,476.11
1.414.963.90
1,142,184.00
1,162,982.06
977,321.23
814,361.57
Total
75,452,507.64
$861,680.41
6,937,886.02
7,381,289.58
6,924,753.05
4,161,820. 73
4,377,258.40
3,048,861.64
5,820,159.16
8.098,485. 18
4,950,088.96
3,613,021.59
3,141,548.04
2,829,890.71
2,656,104.21
1,839,219.24
1,322,834.27
1,064,826. 39
1,086,691.94
912,300.40
758,695.55
71,787,415.47
$48,366.28
180,716.76
236,908.67
259,719.12
199,940.63
249,883.06
149.136.86
289,613. 16
485,819.08
310,981.39
219,259. 10
191,889.02
178,857.27
172,280.69
125.256.87
92,129.63
77,357.61
76,290. 12
65,020.83
55,666.02
3,665,092.17
. . f d>o G09 oil in worn and uncurrent gol<l
The loss on the recomage of $3,63w,0. of $814,361,57
coins was *28,891.10 and the net loss on the recoina„e
in worn and uncurrent silver w™™*0; '0n'uncurrent gold coin
The Treasury was on uncurrent silver coin transferred
transferred and $55,615.79 loss ou ,rnose
for recoinage from the appropriation for that purpose.
14
REPORT DIRECTOR OF MINT.
Coinage or Gold and Silver op the United States since 1S73, by Fiscal Years.
Fiscal years.
1S73
1874
1875
1S76
1ST
1878
1579
IS®
1S&1
1SS2
18S3
1554
isss
1556
1557
1555
14 I
1580
1891
1892
1393
1394
isas
1S87
18»
1900
1901
1902
1903
1904
1905
1906
1907
190S
1909
1910
Total
Gold.
Fine ounces.
1.705, 1ST
2.440,165
1,623.173
1.S46.907
2, 132. 2S3
2.554.151
1.9S2.742
2,716,630
3, SOS. 751
4,325,375
1.73S, 449
1,351.250
1.302.657
1.648,493
1.083,275
1.372. 117
1.235. 687
1,065.302
1.168,330
1,717.650
1.453.095
4. SI 2, 099
2,125,282
2,848.247
3,465,909
3,126.712
5, 233, OH
5.221.458
4.792.304
2.998,313
2.211,791
10,091.929
3.868.211
2,563.976
4.279.701
9.541.406
5.233.212
2. 30] . 62$
Value,
$35,249,337.00
50, 442.69a 00
33.553.965.00
S8, 17$, 983. 00
44,078. 199.00
52, 798. 980l 00
40.986.912.00
56.157.735.00
78,733. 864. 00
W. 413. 447. 00
35,936.928.00
27.932. S24. 00
24. S61. 123.00
34,OT7.3SaOO
22.393.279.00
28,364. in. 00
25.543,910.0)
22,021.748.00
24.172.203.00
35.506.987.00
30, 038.14a 00
99. 474.913.00
43.933.475.00
58,878. 490. 00
71. 646. 705. 00
64. 634. 5*5. 00
108,177.190100
107.937. lia 00
98, 065. 715. 00
61.980.572.00
45.721 , 773. 00
M6. 618. 642. 00
79.983. 692L 00
53,002.087.50
79.622,337.50
197,238,377 SO
106. ISO. 092. 50
47.578.S75.00
ii4.sss,»is •i.sas.nr.wr.oo
Silver.
Fine ounces
Dollars coined.
2, 179.S33
4.558,526
7,650.005
14.2L> 851
21.239.S80
21.623,70?
21.059,046
21.611.294
21,383.920
21.4S8.14S
22,366,171
22.230.702
22.296.S27
23,211.226
36.525.r6
36,331,176
36.658.493
28.430.092
29.498.9r
11.258.S63
9.353.787
4.358.299
6,810.196
8,651.384
18.658.623
12.426,024
20.966.979
23.464.S17
36,736.641
22,756.781
19.705.162
13.386.S94
6.600.0®
2.905.340
9,385.454
11.957.734
8. (t?4 . 984
3.108.753
624. 981. STS
1977,150
3.588.900
5.697.500
6,132.050
9.162.900
19.951.510
r. 227, 500
r, 933. 750
r. 637. 955
r. 772, 075
28.111,119
28,099,930
28,528,552
29.838,905
33.266,831
32.n8.673
33,793.860
35.923,816
36. 232. 802
8.329,467
5.343, H5
758
3,956,011
7,500,822
21.303.701
10.002.780
18, 254, 709
18.294 «^4
24.29S.S50
19.402.800
17.972.785
10,101.650
310
Subsidiary
coined.
$1,968,645.50
2,394,701.39
4.372,868.00
12.994.452.50
19.387.035.00
8,339,315.50
382.50
8,687.50
12,011.75
11.313.75
724.351.15
673, 457. 80
330,407.65
183,442.95
1.099,652.75
1.417.422 2S
721.686.40
892.02X70
2,039,218.35
6.659.811.60
7,217,23X90
6,024.14a 30
5. 113.469. a)
3.939.819.20
3, 124.065. 65
6,482.804.00
9.466,877.65
12, 876. 849. 15
10,966.648,50
10. H3, 569. 45
8, 023. 781. 25
7.719.231.00
9. 123.660. 60
4.016,368.10
12.974.534.25
16.530.477.25
n.093, siaoo
4,297.567.25
037.259.120 213,925.769.09
PHILIPPINE COINAGE.
r I - - {jV’vtlAUlcUl .
Denominations.
Pieces.
Fine ounces.
Silver:
I>908 .
50 centavo. .
20 centavo .
10 centavo.
Bronte:
1 centavo . .
Total .
5.276.559
36,000
450,000
312,199
1.500,000
2.714.261 95
8.6SX50
43. 40*. 30
15,055.79
2.781,400.74
REPORT DIRECTOR OF MINT.
15
The total silver coinage to June 30, 1910, from coins received from
the Philippine Islands for recoinage and from bullion purchased for
such coinage was as follows:
Denomination.
Coined from new bul¬
lion, acts of Mar. 2,
1903, and June 23, 1906.
Coined from Philippine
coins received for recoin¬
age, act of June 23, 1906.
Total.
Pieces.
Fine ounces.
Pieces.
Fine ounces.
Pieces.
Fine ounces.
Pesos .
60 centavo .
20 centavo .
10 centavo .
Total .
93,445
3,342,126
3,666,152
6,077,392
48,068.11
805,870.13
353,600.36
293,082.21
41,402,559
2,100,000
2,735,000
4,030,000
21,297,476.35
506,362.50
263,790. 75
194,346.75
41,496,001
5,442,126
6,401,152
10,107,392
21,345,544.46
1,312,232.63
617,391.11
487,426.96
13,179,115
1,500,620.81
50,267,559
> 22,261,976.35
63,446,674
23,762,597.16
> Included in this amount is 11,237.93 fine ounces of coins reserved for assay.
(The balance of silver now on hand to the credit of the Philippine government is 0.27 of an ounce, line.)
Under the act of Congress approved Juno 23, 1906, and the act of
the Philippine Commission dated December 6, 1906, providing for
the recoinage of Philippine silver coins issued under the act of March
2, 1903, into coins of a reduced weight and fineness, there were received
at the mint, San Francisco, and melted for recoinage up to June 30,
1910, the following:
Denomination.
Pieces.
Fine ounces.
Pesos .
24,093,573
5,331,400
5,440,500
6,890,000
425
18,787,537.62
2,076,145.12
844,564 23
534, 328. 47
149.85
8,01140
11,237.93
60 centavo .
20 centavo .
10 centavo .
Mixed Philippine coins .
Mixed foreign coins .
Assay coins and transfers . - . . .
Total .
41,755,898
22,261,976.62
Of the coins manufactured for the Philippine government under
the act of March 2, 1903, there were remaining in the Philippine
Islands, June 30, 1910, the following coins:
Denomination.
Pieces.
Value in
pesos.
2,930,785
797,118
2,557,268
4,467,557
2,930,785.00
398,559.00
511,45160
446, 755. 70
60 centavo . .
20 centavo . .
10 centavo . .
Total .
10,752,728
4, 287,55130
16
REPORT DIRECTOR OF MINT.
The total coinage, including recoinage, made for the Philippine
government under authority of the acts of March 2, 1903, and June
23, 1906, was as follows:
Denomination.
Made at United
States mint,
Philadelphia.
Made at United
States mint,
San Francisco.
Total.
Silver:
Pesos . .
Piece*.
2,806,859
4,317,644
6,618,840
6,618,839
10,000,384
37 845 784
Piece*.
65, 713, 503
Piece*.
68 520 Vi2
50 centavo .
1 253*000
20 centavo .
7 780* 080
Ilf 5/0, 644
10 centavo .
14 846 110
11 , OlW, JJU
21 464 949
Nickel:
5 centavo .
10,000,384
jo «vva o/v?
Bronze:
1 centavo .
1 * AO A A19
i centavo .
17* 753* 38-4
•to, ZtVy ow
17,753,384
Total .
ft* Qfll 7QJ
1 A1 Af 7 OAK
1 U41 (TO fttO
OVj VOl y 1 0*1
ll/l, 111 4 y ollO
lot), viv, uoy
1 3,924,612, recoin age of ^-centavo pieces.
WORK OF THE GOVERNMENT REFINERIES.
Bullion was operated upon by the refineries connected with the
coinage mints during the fiscal year 1910, as shown by the following
Mints.
Bullion upon
lor parting w
which charges
ere collected.
Bullion owned by the Gov¬
ernment retained by the
refinery for parting pur¬
poses on which nocnarges
for parting were imposed.
Total.
Gold.
811 ver.
Gold.
Silver.
Gold.
Silver.
Standard ozs.
3,311,484.06
2,038.291.90
73.229.02
1,472,364 56
Philadelphia .
Standard oz*.
1,148,220.415
1,080.641.467
30,056. 474
1,119,557.772
Standard oz*.
2,647,553. 49
1,708,541.47
17,148.88
412,028.81
Standard oz*.
225,189.179
969,366.810
1,446. 516
292, 417.817
Standard oz*.
663,930.57
329,750. 49
56,080.14
1,0G0, 335. 75
Standard ox.
1,373,409.594
2,050,008.277
31,502.990
1,411,975. 5S9
San Francisco. . . .
New Orleans.
Denver. . .
Total ounces.
Total value..
3,378,476.128
4627855,369.82
4,785,272.65
1,488,420.322
2,110,090 95
4,866,896. 450
6,895.360 60
45,568,317 25
427,691,540.87
42,455,385.64
490,546,910.69
48,02377U279
PURCHASE OF SILVER.
mrclTased l^r subsi(l!Rrv'^;Kf„f^ua™0U^t “"d cost of silver bullion
Stock of silver bullion.
Standard
ounces.
Cost
asss-'a'*-
282,485.34
2,302. 409.79
2, 486. 63
2,112 75
6,346.38
2,595,840.89
*129,556.57
1, 134,625-02
1,438.U
974-85
3,064-55
1,269, 649- 1°
Total....
::::
REPORT DIRECTOR OF MINT.
17
BALANCES OF SILVER BULLION.
The balances of silver bullion on hand June 30, 1910, at the mints
and assay offices of the United States for the coinage of subsidiary
silver coins, and also for the coinage for the Philippine government,
were as follows:
Items.
Standard
ounoos.
Cost.
For subsidiary silver coinage .
5,725,079.35
.80
$3,642,047. 98
.27
Silver bullion for Philippine government .
Total .
5,725,679.65
3,042,O4&25
1
COURSE OF SILVER.
During the 12 months ended June 30, 1910, the fluctuations in the
price of silver in the London market were greater than for the fiscal
year ended June 30, 1909. The price ranged from 23^ pence to
24f$ pence per ounce for silver 0.925 fine (British standard), equiv¬
alent in money of the United States at the former rate to $0.50555
and at the last-named rate to $0.54665 per ounce 1,000 fine; a varia¬
tion of $0.04110 per ounce. The average London price for the year
was 23-J-J pence, equivalent to $0.52481 per ounce fine. The com¬
mercial ratio of silver to gold at the average price for the year was 1
to 39.39. The bullion value of the standard silver dollar was $0.40590.
The monthly fluctuations in the price of silver for the 12 months
ended June 30, 1910, are showm in the following table:
Highest, Lowest, and Average Price of Silver Bullion and Value of a Fine
Ounce Each Month durino the Fiscal i ear lyiu.
Months.
Ilighcst.
Lowest.
Average
price per
ounce,
British
standard,
0.925 fine.
Equivalent
value of a
fine ounce
with ex¬
change at
par, $4.8665.
Average
monthly
price at
New York
of exchange
on London.
Equivalent
value of a
One ounce
based on
average
monthly
price and
average rate
of exchange.
Averego
monthly
New York
price of
fine bar
silver.
. , 1909.
Pence.
0*1 T
Pence.
231
Pence.
23.5120
$0.51541
$4.8752
10.61633
$0.51668
.51745
August .
24
23.5875
.51706
4.8672
.51711
52016
.52067
September. . . .
231
23?
23. 7476
.52057
4.8626
.'51501
.51266
.52811
.51591
October. . . .
23 1|
23.5024
.51520
4. 8609
.51317
November
1
24
231
23. 3509
.51187
4.8734
A 0770
.52908
December
24.0384
.52694
i.on*
W.wo;...
24
23A
24.1500
.52939
4.8662
.52936
.52105
.51973
.53797
.53080
.52229
.52105
flwuary .
23.7838
.52136
4.8536
i cat#;
Wit . .
23A
23.0850
.51920
4. i»/o
.53894
April .
24
24.4831
.53669
4.8777
• ’54424
.54524
.
24
241
24 \
24.8004
24.6514
.54365
.54038
4. 8718
4. 8662
! 54035
.54182
Average..
23.9410
.52481
4.8691
.52517
.52609
72663°— 11 - 2
18
• REPORT DIRECTOR OF MINT.
EARNINGS AND EXPENDITURES, MINTS AND ASSAY OFFICES.
The earnings and gains and expenditures and loss for the fiscal
year 1910 were as follows:
Earnings and gains:
Charges for parting and refining .
Charges for alloy . . .
Charges for assaying and stamping .
Seigniorage on minor coinage .
Seigniorage on subsidiary coinage .
Seigniorage on recolnago of minor coins .
Profits on medals and proof coins .
Charges received for mounting, etc., medal fund account .
Charges for the manufacture of medals, etc .
Deposit melting-room grains and sweepings .
Surplus bullion recovered by operative officers .
Gain on bullion shipped to mint for coinage . . .
Proceeds of sale of ola material . .
Receipts from special assays of bullion and ore .
Receipts for manufacturing appliances for Government and other Institutions
Charges received for coinage for Philippine government .
Gain on light-weight United States gold coin for recoinage .
Bullion recovered from cleaning refinery pipes .
Charges for treatment of deposit raeltlng-roora sweeps . .
Receipts from sale of by-products .
Charges for manufacture of proof gold and silver .
Amount received in excess of assay value of melting and refining sweeps sold .
Amount recovered on account of embezzlement .
$242,249.91
14,812.62
23. 135. 89
1,914,747.88
2,468,685.09
2. 498. 35
3,069.99
249. 63
1.979.79
28,006.88
40,797.53
4.^4 98
3,112. 49
3.434.22
14. 142. 48
GO, 836. 81
1,088.45
807.88
41,836.82
98.00
457.82
818.77
Total earnings and gains.
4,800,672.54
Expenditures and loss:
Salaries of officers and clerks .
Wages of workmen and other clerks and employees . . .
Contingent expenses, less amount paid to reimburse wastage and loss on sweeps sold . . .
Parting and refining expenses, less amount paid to reimburse wastage and tofcs on sweeps
sold .
Wastage of operative departments . .
Loss on sweeps sold during the year .
Expenses of distributing minor coin . .
Expenses of medal fund (charges paid, mounting, etc ) .
Loss on recolnage of minor coins .
Loss on bullion shipped to mint for coinage . .
225,827.67
788.8S6.19
161,031.44
240, 936. OS
7,273.57
4,912.75
20.249.43
249. 63
14,028.54
76.09
Total expenditures and loss
1,463,471.39
APPROPRIATIONS.
The total appropriations for salaries, wages, and contingent ex¬
penses for the entire mint service, including $100,000 for freight on
bullion and coin between mints and assay offices, and $36,770 for
salaries and contingent expenses, Of lice of the Director of the Mint,
for the fiscal year 1910 amounted to $1,497,370. There is also a
balance m the Treasury to the credit of the appropriation for “New
machinery and appliances, mint at Philadelphia,” of $2,316.94, and
to the credit of the appropriation for ‘‘New’ machinery and appli¬
ances, mint at Denver,” of $343.01.
The total expenditures during the year from these appropriations
amounted to $1,268,955.67, leaving a balance of $231,074.28.
19
beport director of mint.
Appropriations and Expenditures, Fiscal Year 1910.
appropriations and reimbursements.!
Institutions.
Salaries.
Wages of
workmen.
Contingent
expenses.
Total.
Philadelphia.. .
(jo r r/\ su*
3400.000.00
14,068 05
Reimbursements.
385.000.00
2,802.05
45,000.00
20.279 .27
45,000.00
77.88
30,000.00
3528.550.00
16,870.70
251.100.00
60.836.81
234,500.00
157.45
120.100.00
88, 750. 00
Reimbursements...
41,100.00
165.000.00
40,557.54
Reimbursements..
39,300.00
150,000.00
79.57
New York . .
27,300.00
62,800.00
Carson .
41,250.00
35,000.00
12.500.00
Deficiency .
6,000.00
5,250.00
1,000 00
2.600.00
1,000.00
4.000.00
13.850.00
2,000.00
23.950.00
15,450.00
Boise . .
5,450.00
14.500.00
Reimbursement .
3,400.00
8,300.00
3,750.00
Seattle . .
4.000.00
32.000.00
4,600.00
1,300! 00
1.55
8,400.00
49,750.00
Salt Lake City .
9, 750. 00
8.000.00
St. Louis .
7, 100. 00
5,000.00
16,700.00
4,750.00
Charlotte . .
3, 000. 00
1.000.00
1,060.00
750.00
T 1
2, 750. 00
920.00
4,750.00
. [
233,350.00
939,235. 16
267.881.35
1,440,466.51
EXPENDITURES.
Institutions.
Salaries.
Wages of
workmen.
Contingent.
expenses.
Parting and
refining.
Total.
Philadelphia .
San Francisco. . . .
Denver .
New Orleans .
New York .
Carson .
Helena .
Boise .
343.550.00
40.824.46
37.958.06
27.300.00
36.918.75
6.000.00
5,450.00
3,400.00
3.200.00
8,993.06
7. 100.00
2,383.34
2,750.00
3385,569.75
mlmlii
90,719.69
21. 27a 80
31. 180. 16
5,598.00
13.367.50
8,150.00
3,865.00
28.314.16
4,434.00
997.22
840.00
359.283.52
49,801.69
23. 100. 16
7,658.88
7.832.97
3.352.35
3, 124.24
2.272.20
564.17
5, 191.29
3,537. 12
361.76
622.01
370.440.31
79,295.16
30, 101.49
2,628.72
63,388.29
3558,843.58
364.601.22
181.879.40
58.858.40
139.320.17
14,950.35
21,841.74
13.822.20
7,629. 17
42. 49S. 51
15,071.12
3,742.32
4.212.04
Dead wood .
Seattle ...
Salt Lake City .
St. Louis 1
.
Charlotte ...
Total .
225,827.67
788.SS6.19
166,702.39
245,853.97
1,427, 27a 22
mad' to other lor terrkes mnd«d u>
earnings and expenditures of the refineries of the coinage
MINTS AND ASSAY OFFICE AT NEW YORK, FISCAL YEAR 1910.
The eurnings on account of parting and refining bullion during the
fiscal year ended June 30, 1910, all of which were deposited in the
Treasury, amounted to $323,590.57: the expenditures on the same
3245,853.97; ami the net earnings over expendi-
The earnings and expenditures of the several mints and the assay
omce at IS ew York were as follows : J
Institutions.
Charges
collected.
Surplus
bullion.
Receipts
sale by¬
products.
Total
receipts.
Expendi¬
tures.
Philadelphia .
San Francisco .
New Orleans .
383,233.18
67,654. 12
3, 760. 18
58, 175. 16
29,427.27
324,658.85
1,300.30
4,278.93
6, 188. 15
3,079.61
341,836.82
3149,728.85
68.954.42
8,039.11
64,361.31
32. 506. N8
370.440.31
79, 295. 16
2,628.72
30. 101.49
68,388.29
Denver .
New York. .
Total .
242.249.91
39,508.84
41,836.82 | 323,590.57 |
245,853.97
20 REPORT DIRECTOR OF MINT.
Appropriations and Expenditures, Office of Director of the Mint, including
Freight on Bullion and Coin between Mints and Assay Offices.
Appropriations. ,
Amount.
Expendi¬
tures.
Unexpend¬
ed balance.
Salaries .
*30,120
6,650
100,000.00
*27,852.50
3,290.79
46,385.68
*2,267.50
3,359.21
53,614.32
Con tin gent exponsos .
Freight on bunion and coin . .
Total .
136,770.00
77,528.97
59,241.03
Consolidated Statement of Expenditures for Salaries, Wages, and Supplies
of the Mints and Assay Offices during the Fiscal Year 1910.
Items of expenditure.
Ordinary
expenses.
Refinery
expenses.
Total.
Acids .
cm Qi
• 1 e Afii 11
Adjusting weights and repairing balances. . .
fd) jH
21R.20
#10, wi 41
36l 00
$21,5S5. 35
254.20
Advertisements .
Balances and weights .
618! 00
inn in
1.80
618:90
mi on
Barrels and lnrd tierces .
ion on
Binding of records .
iw. w
129.85
789. 12
wU. oU
Odl. aiU
129.85
Carpets, furniture, and fixtures .
7 on
Charcoal and coke .
4 • Af
fW. a-
Chemical apparatus .
1 SOX 44
645. 04
Chemicals hot otherwise specified.
Coal . . .
1 i 225. 72
15,216.51
14,043.72
1, 132. 28
819. 59
2,541. 81
2.25
2,045.31
17,75132
14,045.97
Crucibles, oovers, stirrers, and dippers
Drayagc . .
i : 54®: 20
7, 17a 33
45.26
11, 119. 62
1,594. 46
5,430.38
7,628 83
Electric light and supplies .
Electric power .
3,522. 40
6, 490. 63
1,907.98
1,13X20
Electrical vault protection and burglar alarm. .
8, 176. 91
520.88
8, 95a 00
17, 134.91
52a 88
Express and freight . .
82.35
1,858.29
578. 12
2a 26
297.92
2,692.45
596.38
82.35
1.884.55
876.04
3,566.60
2,440.22
Furnaces and repairs . ! ! ! " * .
874. 15
1,843.84
Hardware . .
Iron and steel.’*.*.’” . .
10, 141. 70
4,210.40
1,821.44
1,660.11
1,680.33
842.01
8S9.21
3,865.34
2, 162. 12
28a 66
212.88
53.35
133. 12
14,007.04
6,372.52
2, 110. 10
1,872.99
1,733.68
975. 13
889.21
MUWI l iVUI^UlOIV 1 • • . . .
Lead: Bar. sheet, and pipe. . . . .
Loss on sale of sweeps . .
536.05
1,906.73
1,019.70
3, 32a 05
1,556.75
5,232 78
Machinery and appliances
Metal work and castings . .
1.34A 25
26,885. 18
026.01
28,284.35
1,974.26
55, 160. 53
Oils: .
Coal
999. 59
183. 53
2,330.96
3,871- 82
11,33a 55
Fuel.. .
l .
Rent of buildings. ” . .
Repairs (machinery, etc. ) .
Sewing . . .
Stationery. . . . .
Steam, supply of ‘ .
Sundries . .
Telegraphing..::;;:;;;;;;; .
Telephone . .
Traveling expenses . .
Watnr: Sprinkling, heating, and irrigating; “ *
> 6.58L12
3,900.00
1,264.53
99a 05
1,155. 01
375.28
4, 89a 72
119.34
2,200.18
75a 46
1,370.43
3,40a 54
37.90
150. 70
3,89X50
869.76
*”2,9oi.55"
114.00
47.70
1,63-2.66
1,500.17
.50
. 2L52*
31.15
63a 80
7,450.88
3,900.00
4,166.08
1,112.05
1,202.71
2,007.94
6, 391 89
119.84
2,200. 18
779.98
1,401.58
4,047.34
»r^Klvcoffl“ra-
65196
1,782.59
37.90
804.66
5, 67a 09
.
1,063.13
166 702 39
2a 46
1,091.59
Total...
225,’ 82?: 67
788,886.19
1,181,416.25
96, 84a 85
i 49, 005. 12
245,85197
263,551.24
225.827. 67
937,891.31
1,427,270.22
REPORT DIRECTOR OF MINT.
21
LABORATORY OF THE BUREAU OF TITE MINT.
From the coinage of the calendar year 1909 the assay er of this
bureau tested 359 gold and 466 silver coins, all of which, with one
exception, were found within the legal requirements as to weight and
fineness.
In the gold coins the greatest deviation above standard (the legal
limit being 0.001 above or below) was 0.0003, while the greatest
deviation below was 0.0011.
The greatest deviation of silver coins above standard (the limit
being 0.003 above or below) was 0.0013, while the greatest deviation
below was 0.0018.
The following table summarizes these assays:
In addition to the above there were examined 146 Philippine silver
coins and 6 Costa Rican silver coins, all of which were within the legal
requirements as to weight and fineness. Also 96 assays of miscellane¬
ous gold were made in settlement of differences between the mints
and the assay offices. . .
An extensive investigation was made into the question of the
possibility of standard gold made from electrolytic gold segregating
during the coinage operations, and investigations into the manufac¬
ture of cupels in the service and the determination of minute amounts
of gold in refinery silver and coins were inaugurated.
PROCEEDINGS OF T1IE ASSAY COMMISSION, 1910.
The following-named gentlemen were designated as commissioners
to test and examine the weight and fineness of the coins reserved at
the several mints during the calendar year 1909, pursuant to the
provisions of section 3547 of the Revised Statutes:
Hon. Julius C. Burrows, United States Senate; lion. Carroll S.
Page, United States Senate; Hon. William B. McKinley, House of
22
REPORT DIRECTOR OF MINT.
Representatives; lion. William A. Ashbrook, House of Representa¬
tives; Dr. Edgar F. Smith, Philadelphia, Pa.; Dr. Edward II. Keiser,
St. Louis, Mo.; Dr. Charles R. danger, Cambridge, Mass.; Hon
David Cunningham, Cadiz, Ohio; Mr. Archer M. Huntington, New
York, N. Y.; Mr. Edgar T. Leche, New Orleans, La.; Mr. Fred More,
Charleston, Ill.; Mr. Luther Drake, Omaha. Nebr.; Hon. D. A.
McPherson, Deadwood, S. Dak.; Mr. James II. Manning, Albany,
N. Y.; Dr. Edward D. Peters, Cambridge, Mass.; Dr. O. L. Shinn,
Philadelphia, Pa.; lion. Lawrence O. Murray, Washington, D. C.-
Hon. John B. McPherson, Philadelphia, Pa.; Mr. II. G. Torrev
New York, N. Y.
The ^mmission met at the mint at Philadelphia on February 9,
1910> and Hon. Carroll S. Page was elected chairman.
The following committees were appointed by the chairman with
the approval of the commission:
Cumdngham °U countin9~^r’ Drake; chairman; Messrs. More and
A”hbr"ok- d,“nn“i T»™'-
K.S,"S«5“S,rMr “'*“»• “-■ »
H J^COmmittee ?n, C0U,ntinS reported that the packages containing
SivPerTtorTTd^Lwreral mintS for triahf coins werf
kept bv the d f*u \6c wer0 compared with the transcripts
f®gS. V theiIDlr(ctor of the Mint and found to be correct \fter
a^d ^ayhig C°ln8 W°re dclivered ‘he committees on weighing
miSon wwer as6 hdllws- ^ mmtS f°F U*e pu 17)0308 of tlle assay com-
$GM coins from the mint at Philadelphia, 1,437, of the value of
$2S265e90.OinS fr°m th6 mint at Philadelphia, 10,950, of the value of
$59*940.tOlnS fr°m th® mmt at San Francisco, 3,368, of the value of
$659.5()r C°lnS fr°m the mmt at San Francisco, 2,056, of the value of
Silver coins Tr^m'th^mfntV^^?^118’ 35, °f the VaIue of *175,
$435. m,nt at New Orleans, 1,964, of the value of
Gold coins from the mint at Denver 3 fine „f ,
Silver corns from the mint utDcnw 3 034 ?f ,10 Va uo °£ $19-410'
The coins reserved on account of 3’034, f the value of $686.95.
Islands were as follows: nage executed for the Philippine
San Francisco
Pesos .
50 centavo.
20oeuUivo.."!
10 centavo .
3,780
204
225
157
0f~«StS^teratdpS^and making ““y
New Orleans, and Denver, renrestm n.V 1 lad?1Phlu. San Francisco,
coiners to the superintendents' du^VM'i^SS.^’ **“
BEPORT DIRECTOR OF MINT.
23
The highest assay value of the gold coinage (the limit of tolerance
being one one- thousandth) was at —
Philadelphia . 900.3
Ban Francisco . 900.3
Denver . ' . 900* 1
New Orleans . 89d!o
The lowest assay value of the gold coinage (the limit of tolerance
being one one- thousandth) was at —
Philadelphia . 899.8
San Francisco . ** 899.8
Jfcnvw . 899.8
The highest assay value of the silver coinage (the limit of tolerance
being three one-thousandths) was at —
Philadelphia . 900.7
San Francisco . 900.7
Denver . . . 901.8
New Orleans . 1 . . 901.1
The lowest assay value of the silver coinage (the limit of tolerance
being three one-thousandths) was at —
Philadelphia . . 898. 4
San Francisco . . 899.5
Denver . . 900.2
New Orleans. . 898.9
The highest assay value 1 of the Philippine silver coinage was at —
8an Francisco (pesos) . . . 8016
San Francisco (subsidiary) . ...... ..... . 749.4
The lowest assay value of the Philippine silver coinage was at —
San Francisco (pesos) . . 799.4
San Francisco (subsidiary) . .. . . 749.4
The committee also tested the quartation silver and found it free
from gold, and the lead used in the assay of the gold bullion and
found it free from gold and silver. The acid used in the humid assay
of silver was founu to be free from silver and also from chlorine.
The balances used were tested and found to be correct.
MINT OF THE UNITED STATES AT PHILADELPHIA.
The following table shows by weight and value the gold and silver
deposited during the fiscal year 1910:
Metals.
Deposits.
Rodo-
posits.
Standard
ounces.
Coinage values.
Gold . .
3,203
694
1,894
82
1,295, 100. 550
2,715,051.23
124,095,005.04
3, 100, 03a 52
Silver .
Total .
3,897
1,970
27,256,030. 10
» By the act of June 23, 1906, the standard Oneness of the Philippine peso was reduced to 800 and the
subsidiary coins to 750 One.
24
REPORT DIRECTOR OF MINT.
Of the above amount of gold bullion, 1,325.413 ounces standard are
the surplus bullion recovered by the melter and refiner in his opera¬
tions during the fiscal year 1910, and 66.876 ounces standard are the
surplus bullion recovered by the coiner during the fiscal year 1910.
The following table shows the number of proof coins and medals
and their nominal value manufactured during the fiscal year:
Articles.
Pieces.
Nominal
value.
Gold medals .
149
491
18,848
G05
1,806
8,550
*5,512.57
922.91
3,734.50
5,330.25
528.70
256.50
Silver medals .
Bronte medals .
Gold-proof coins .
Silver-proof coins .
Minor-proof coins .
Total .
30,509
10,291.49
Minor Coinage.
The coinage of minor coin during the fiscal year 1910 at the Phila¬
delphia mmt is shown in the following table:
Denominations.
1-cent bronie. .
5-cent nickel . . .
*1,442,415.29
852,781.90
No blanks for minor coinage were purchased during the vear.
coina^eawMUQS«°if9imet^ ?Urchased r°r the manufacture 'of minor
coinage was 988,121 avoirdupois pounds, at a cost of 8145,299.46.
ferred fmm'th* t uncurreIU copper, nickel, and bronze coins trans-
S “ Sr-Ury dUTmg uthe ye“r for con™rsiou into current
corns, cost, and seigniorage are shown by the following table:
Old copper cents..
Nickel 1-cent coins .
Bronte 1-cent coins .
Bronie 2-ocnt coins! ! ! !
Nickel S-oeutoolns _
Nickel 5-cent coins .
*110. S6
533. 18
.... 33,998.57
100. 40
433.41
.... 189,810.60
„ Total .
Balance from last year . — .
CtStof110 10 °°nvert 11110 bronM 1 -cent alloy for rvcoln-
Sdgniorage (gilfTby^SuS mctal iot reoo^*e into nickel 's-wnt <x>ln! ! ! 5! 21
Total .
Coinage executed, nominal value-
Bronte l-cent coin .
Nickel 6-oent coin . _ .
225,053.00
29,885.00
6.2
2.498.35
. 257,457.85
by reooinage . ,
Total .
. *33.230.81
. 210,192 50
- 243.429.31
. 14,028.54
... 267,457.85
BEPORT DIRECTOR OP MINT.
25
The seigniorage or gain on recoinage of minor coin was $2,498.35,
as against a loss of $14,028.54, showing a net loss of $1 1 ,530.19.
The seigniorage on the coinage of nickel and bronze coins coined
from purchased metal was $1,875,505.38, which, less a n&t loss o
$11 530.19 on the recoinage of minor coin and a wastage of the opera¬
tive officers in the minor coinage operations of $1,597.48, gives a net
seigniorage on minor coin of $1,862,377.71. ,
The total amount of the several types of minor com manufactured
at this mint from 1793, when the first coinage of copper cents was
made, until June 30, 1910, aggregated $56,114,471.71. There have
been melted for recoinage $5,228,912.44, leaving oustanding June
30, 1910, $50,885,559.27, the product of this mint.
The several types and denominations of minor coin issued, manu¬
factured bv the mint at Philadelphia since its establishment, the
amount re melted, and the amount outstanding June 30, 1910, are set
forth in the following table:
Minor Coins Issued, Remelted, and Outstanding.
Denominations.
Coined.
Remelted.
Outstanding
June 30. 1910.
$1,502,887.44
39,926.11
2,007,720.00
18 537,095.29
912,020.00
905.768.52
32,149.054.35
$380,653.31
$1,182,234.13
39,926.11
1,204,351 29
18,154,638.56
572,185.78
622,666.25
29,109,557.15
803,368.71
382, 456. 73
339.834.22
283,10227
3,039,497.20
IN 1CKH OHXUV . .
56,114 471.71
5,228,912.44
50,885,559.27
Minor coins to the amount of $2,758,799.03 have been distributed
throughout the States and Territories of the United States during
the fiscal year 1910 — *1, 215, 830.45 in nickel 5-eent pieces und
ci 549 968 58 in bronze 1-cent pieces. . .
$ The expenditure for the distribution of minor com for the same
period was $20,189.92.
All Seigniorage.
The seigniorage on the coinage of purchased metal for the fiscal
year was $3,575,885.92, as shown by the following table.
Items.
Coined.
Seigniorage.
Subsidiary stiver coins .
Minor coins .
$2,911,607.25
2.061,767.88
$1,700,380.54
1,875,505.38
4,963,435. 13
3,575.885.92
Visitors.
* i nf visitors from all States of the Union and from
shown through the budding by the several guides.
26
REPORT DIRECTOR OK MINT.
-Number op Employees.
The total number of employees in this mint at the close of the
fiscal year was 360, distributed in the several departments as follows:
Department:
General .
Assayer's .
Melter’8 and refiner’s.
Coiner's .
Engraver’s .
183
13
61
'.'4
9
Total
360
Melter and Refiner’s Department.
During the fiscal vear the melter and refiner received from the
superintendent gold bullion containing b}r assay 1,839,490.674 stand¬
ard ounces, of the value of $34,223,082.31, His legal allowance for
wastage being 1,839.491 standard ounces, of the value of $34,223.09.
He also received silver bullion containing by assay 6,825,648.72
standard ounces, of the value of $7,942,573.06, his legal allowance for
wastage being 10,238.47 standard ounces, of the value of $11,913.85.
lie returned to the superintendent 1,840,816.087 standard ounces of
gold and 6,822,418.53 standard ounces of silver.
He operated upon bullion as follows:
Items.
Gold.
Silver.
Ingots .
Standard ozs.
156,328. 000
1,373,409.594
Standard ou.
3,840,018.82
3,311,484.00
Refinery .
Total .
1,529,737.684
7, 151,502 88
The excess of silver operated upon over the amount. charged during
the year is due to duplicate operations.
se^J.emoljf °f the melter and refiner’s accounts June 30,
1910 there was found an apparent gain upon the gold bullion during
the fiscal year of 1 325.413 standard ounces, and in the operations
upon the silver bullion an apparent loss of 3,230.19 standard ounces,
i he. melts made aggregate as follows:
Melts.
Rare.
Ingots.
Anodes.
Deposits.
Special.
Total.
Gold .
995
Silver .
1,023
26
966
3,240
579
254
4.753
2,568
Total .
1,261
992
095
3,819
254
7,321
During the fiscal year one silver melt was condemned.
Numbe*. Weioiit, and Valve op Gold and S.lver Babb por Industry Use.
MctaL
Bars.
Standard
ounces.
Coinage value.
Gold .
5,115
Total .
8,501
13,616
4G6.761.327
1,819,513.87
2,286,275. 197
<8,683,93170
2,117,252 50
10,801,184.20
REPORT DIRECTOR OF MINT.
27
During the year 145 barrels of sweeps were gathered, containing
by assay 865.449 standard ounces of gold and 4,110.74 standard
ounces of silver. There were 15 barrels of old sweeps reworked, con¬
taining by assay 147.228 standard ounces of gold and 641.39 standard
ounces of silver.
The operations of the refinery were as follows:
Bullton.
Sent to refinery 4.742,461.56 gross ounces, containing by assay
Bullion received from refinery .
Sweeps .
Gold.
Standard o:t.
1,372, 113. 076
1,372, 45S. 612
950.982
• 1,296.518
Standard or*.
3,311,484.06
3,305,016. 26
4,481.24
*1,986.56
' Apparent gain. i Apparent loss.
Silver bullion sent to the refinery upon which refining charges were
collected contained by assay 2,647,553.49 standard ounces, and silver
owned by the Government and returned to the refinery for parting
purposes upon which no parting charges were collected contained by
assay 663,930.57 standard ounces.
. Troy miners.
During the year the melter and refiner received rrom the superintendent minor coinage
metal . 31,543,551.07
Delivered prior to settlement: Troy ounces.
Bronte Ingots . 23.635. 109. 40
Nickel ingots . 5. 191,652. 40
- 28,826.761.80
Delivered in settlement:
Ingot copper . 1,734,900 17
Nickel shot . *47.455.0
Bronze Ingots . . 70, 086 so
Zinc . 96,307.00
Tin . 70,778.00
Nickel clippings . 256.00
Nickel residue . 974 00
Bronze residue . 3, 527. 00
Old copper coin . 4. 685. 00
Bronze sample ingots . 1,970 00
Wastage . . ... 85,999.47
- 2.716,789.27
- 31,543,551.07
28
REPORT DIRECTOR OF MINT.
Coiner’s Department.
The coiner received gold, silver, nickel, and bronze from the super¬
intendent during the year, as follows:
Metal.
GOLD.
SILVER.
Amount.
Total.
| Amount.
Total.
Received from superintendent July 1, 1909,
to June 30, 1910 .
Stand, oz.
Stand, oz.
307,521.140
Stand, oz.
Stand, oz.
4. 174, 142. 49
Returned prior to settlement June 30, 1910. .
Returned In settlement June 30, 1910 .
31,096.564
270, 491.452
3, 951 , 009. 53
222.219.11
Wastage . .
307.588.010
4.173.828.04
‘ 00.876
313.85
Metal.
NICKEL.
COPPER-BRONZE.
Amount.
Total.
Amount.
Total.
Received from superintendent July 1, 1909,
to June 30, 1910 . .
Returned prior to settlement June 30, 1910
Returned In settlement June 30, 1910
Stand, oz.
6,231,555.38
314.893.45
Stand, oz.
5.552.420.20
Stand, oz.
Stand. 02.
27,049,502.90
26,014.500.20
380.012.80
Wastage .
5,540.448.83
26,994.513.00
5,971.37
54,989.90
1 Gold surplus.
During the fiscal year 1 910 this department received from the super¬
intendent 307,521.140 standard ounces of gold, of which 31,048.300
standard ounces were operated upon, from which there were pro-
duced 23,713.157 standard ounces of coin of the value of $441,175,
settlement16^ t0 ^ suPer^nten<^ent during the fiscal year prior to
7 ^eIn7Ve+re a.lso delivers d to the superintendent prior to settlement
delivprod OUn?eL°,f gold Upping® and bars, and there were
nartlv finiaVi 276,491.452 standard ounces of gold ingots,
partly finished com, sweeps, and bars. The entire operation showed
* ^The °vorvrP USn f 6G*8716 standard ounces, of the va?ue of $1,244.20.
waie 7ndT fiaCtUa °^°n °n ^old Solved practically no
upon ^aT^T TmT. lTdUWd to the amount mrtal operated
X operation wils l ^sJ‘'Sh P^entage was due to the fact that
blanks” received in ^ uPon “unfinished coin and good
the settlement of June 30, ^ the suPerientendent after
intendent 4,l%4*V5f* 4‘! standard C0*ner a*so received from the super¬
standard ounce’s were ‘operas d°unon 0/a,lver-.°.ffhi^i3, 936, 902.10
to the super‘
U lucre were delivered at settlement 147,646.62
report director of mint.
29
standard ounces of silver coin, and 74 572.49 standard ounces of
ingots, unfinished coin, and sweeps. Upon the entire °P<™t on
there was a wastage of 313.85 ounces of the value of $161.60, being
7-54Pe^nt°iehof1S P-dS'to the amount of metal operated
UPTheTewe3re a^o delivered to the coiner during the same period
5,552^0 20 ounces of nickel ingots from which were produ<*d
2 742 310.08 ounces of 5-cent pieces of the face value $< -, >
nnon which there was a wastage of 5,971.37 ounces.
U^The percentage of coin produced to the amount operated upon was
49ThePreF were' also delivered to the coiner during the same period
07 049 r)0o 90 ounces of copper-bronze ingots, from winch there
were produced 14,425,498.70 ounces of 1-cent coin of the f,£e
of $144>,415.29, upon which there was a wastage of 54,989.90
ounces. The percentage of coin produced was oS.M.
The coinage executed during the year was.
Denominations.
Pieces.
Value.
Gold: . .
143
172
26.182
122,274
I2.S60.00
1,720.00
130,910 .00
306. 685. 00
Eagje*- . •• •
Quarter eagles .
148,771
441.175.00
Silver: .
Half dollars . .
1.808.785
5.232.785
6, W0. 785
904.392.50
1.308. 196.25
©9.078.50
Dimes .
14,032,355
2,911,607.25
MlD|£oent nickel pieces .
1-cent bronie pieces . - .
17,055.638
144,241.629
852,781.90
1.442.415.29
161.297.167
2. 29§. 197. 19
175,478,293
5,648.039.44
Engraver’s Department.
dies, bubs, and pattern dies.
30 BEPORT DIRECTOR OF MINT.
Dies Furnished the Several Mints during the Fiscal Year Ended June 30,
1910.
Denominations.
Phila¬
delphia.
San
Francisco.
Denver.
New
Orleans.
Total.
Gold:
20
20
. .
20
34
54
12
20
24
56
13
13
25
00
5S
143
Silver:
Hall dollars .
56
30
86
Quarter dollars .
182
10
10
152
Dime .
118
10
128
300
50
10
366
Minor:
5-cent .
3S6
386
1-cent .
1,621
no
1,731
2.007
no
2,117
Philippine:
35
35
1 centavo .
30
30
.
65
05
Total .
2,338
1
285
08
2,601
. 1
Assayer’s Department.
The number of assays made in this department were:
Deposits and purchases
Ingots (gold and silver)
Refinery .
Special assays .
Sweeps assays .
Total .
35,512
2,337
10,034
3.046
217
51.440
sil^rawS°mad°ethiS’ ^ °UnCeS °f Pr°°f g°ld and 820 ounces of Proof
were Ssed “t ™l°ld 1118018 by,the meltcr “d refiner, a11
of sUv^iitsmllT lr8 ",.er® condemned. There were 966 melts
KdTSi WlUCh 961 "ere P— d- 4 -^rned for remelt-
The fineness 0f gold melts passed was:
2 melts at . _
1 melt at . . *».2
The fineness of silver melts passed was:
29 melts at . . ggg
12 melts at . . J
87 melts at . aonu
237 melts at... . *ovl
3 melts at . . SJ-J
170 melts at . .
26
293 melts at... . ™
85 melts at _ _ _ corn
42 melts at... DoLt
12 melts at . cool
6 melts at . .
961
mn °Tentyrsix • thousands cupels
rolled, and weighed.
were made and 80,000 leads cut,
BEPORT DIRECTOR OF MINT.
31
MINT OF THE UNITED 8TATES AT SAN FRANCISCO.
The following table shows by weight and value the gold and silver
deposited during the fiscal year 1910:
Metals.
Deposits.
Rede¬
posits.
Standard
ounces.
Coining value.
Gold .
7,117
991
502
2, 279, 640. 826
1,851.448.74
$42, 412,034.02
2,154,413.07
Silver .
Total .
8,108
502
44,566,447.09
Of the above amount of gold bullion 2.660 standard ounces were
surplus bullion recovered by the coiner and 2,547.05 standard ounces
recovered by the melter and refiner, during the fiscal year 1910.
Of the above amount of silver bullion 1,543,938.45 standard ounces
of Philippine coin were received for recoinage for the government
of the Philippine Islands.
During tne year minor coinage metal was received for the coinage
of United States bronze coin and the recoinage of minor coin into
bronze coin for the Philippine Islands as follows:
Countries.
Recoinagc.
l*urchased.
Total.
Cost value.
Philippine Islands . . .
Troy ozs.
311,724.50
Troy oz.
15,225.00
338,539.57
Troy oz.
326,949.50
338,539.57
$9,496.24
3,350.96
United States .
Total .
311.724.50
351,764.57
663.4S9.07
12,847.20
Assayer’s Department.
The appended tables show the operations of the department for
the fiscal year 1910:
Gold assays .
Silver assays .
Sweep assays .
Total .
Parting silver manufactured .
Cupels made . .
Leads cut, rolled and weighed .
Ingot melts were passed as follows:
40,075
12, M2
372
02,290
3,000
100,000
100,000
Fineness.
Melts.
Fineness.
Melts.
a OLD INGOTS.
899.6 .
10
SILVER INGOTS.
898.5 .
106
197
1
899.7 .
96
898.6 . .
899.8 .
259
898.7 .
896.9 .
301
898.8 .
112
172
82
59
16
6
000.0 .
77
899.1 .
900.1 .
19
869.3 .
Condemned .
0
899.5 .
899.8 .
Total .
762
900.0 .
900.2 .
o
900.4 .
2
Condemned .
1
Total made .
7 GO
32
report director of mint.
Of the above ingots, 237 were double eagles, 305 were eagles, 220
were half eagles, 670 were half dollars, and 90 were quarter dollars.
Philippine Coinage.
Melter and Refiner’s Department.
The melter and refiner received, operated upon, and delivered gold,
silver, and minor coinage bullion during tne fiscal year 1910 as
follows:
GOLD BULLION.
Received:
Settlement bullion of June 30, 1009 .
Deposits .
Reaeposits .
Clippings .
Subtreasury transfer, sweeps bars, etc .
Delivered:
Ingots .
Fine bars .
Sweeps .
Settlement June 30, 1910.
Standard ounces.
1,430.253.050
1,867,832. 811
411,676. 474
980,185.831
134. SSI
- 4,696,083.047
2. lVMiU.OUO
488,682.839
786.858
2,016,914.045
4,605,998.342
Wastage.
84.705
SILVER BULLION.
Received:
Settlement bullion of June 30, 1909 .
Deposits .
Redeposits . .
Clippings .
Philippine recoinage . .
Unltca States subtreasury transfer .
8wecps bare . .
Delivered:
Ingots .
Fine bore .
Sweeps .
Transfer to Mint Bureau .
Settlement Juno 30, 1910 . .
2,039,705.94
196, 183. 15
78.654.47
2.872.321.97
1.544,015.95
30,089.59
36.03
- 6,761,007.10
6,215,401.14
26,979.22
3,431.87
1.93
517,739.99
- - 6,763,554. 15
Surplus
2,547.05
BEPOBT D1KBCT0B OF MIKT.
33
L&OLSO
zn.ia.aB
wmu^r
JE4.M
Ingot Meltb Made.
RtnvtkY
COLD BCIXJO*
2&B
I JB9.S10
3 .ML 457
- 2,050. OBK. 277
. 2.4
nnejMQMn... - <7.07*973
Beniaaail metel . . I - 2.0*9.903 725
... MC2.M2
WnUft . . . . * . .
9LTU memo*.
t to refinery 329.730 40
Bank* 'nor bonces; 1.706.54147
erode bamoo « with cfaanx»> . 2.0».»L«
_ 19B.22l.34
Fine silver ben.. . . 44.133,35
Settlement meal . 2.0J7.3S5.7O
933.36
. . . . .
The refinery also produced 8,889 pounds of electrolytic copper.
Sweef Celia*.
Geld
Sllrer.
Std. oi
1,175.319
2, 3W. 362
25 SOI
153.524
Std. ot
4. 194.43
3.S61.72
Axrount Carson Mint:
99. 37
121.51
3,03.900
9.2S7.03
—
72663°— 11-
34
REPORT DIRECTOR OF MINT.
Coiner ’8 Department.
The coiner received gold, silver, and bronze from the superintend¬
ent during the fiscal year 1910 as follows:
GOLD.
• Standard ounces.
Received from superintendent . . •• — • — 2.469,078.498
Returned prior to settlement June 30, 1910 . 2,266,800. 200
Returned in settlement June 30, 1910 . 202, 220. 952
- 2,469,081. 158
Excess In gold ,
2.060
SILVER.
Received from superintendent . 7,403, 812. 30
Returned prior to settlement June 30, 1910 . 7,043, 810. 99
Returned in settlement June 30, 1910 . 357, 110. 87
- 7,400,921.86
Wastage In silver . 2, 890. 44
CO WEE-BRONZE.
Troy ounces.
Received from superintendent . 1 , 306, 360. 98
Returned prior to settlement June 30, 1910 . 1,092, 248. 32
Returned in settlement June 30, 1910. . . 208 938. 74
- 1,301,187.06
Copper-bronze wastage . 5, 173. 92
During the same period the coiner operated on gold, silver, and
bronze and made delivery to the superintendent as follows:
Amount operated on .
Coin delivered to superintendent .
Percentage of gold coin to amount operated on .
Standard ounces.
.... 2.266.857.546
.... 1,280,674.375
56.49
SILVER.
Amount operated on . .
Coin delivered to superintendent. .
Percentage of silver coin to amount operated on. . . . . . .
7.046.701.43
4, 171. 489. 02
59.18
COPPER BRONZE.
Amount operated on .
Coin delivered to superintendent .
Percentage of copper-bronze coin tio amount operated on
Troy ounces.
. 1.197.422.24
081,606.99
56.76
The following table shows the coinage executed during the fiscal
year :
Denomination.
Pieces
Value.
DOMESTIC COINAGE.
Gold .
2.492.425
3.074.000
4,368.000
123.826,500.00
1,345.000.00
43,680.00
Total domestic coinage
8llver*. PHIUPPINE COINAGE.
Pesos .
50 centavo . .
20 centavo . .
10 centavo . . .
Total silver coinage.
9,934.425
5,276.559
36,000
450.000
312, 199
25,215,180.00
5.276.559.00
18,000.00
90,000.00
31,219.90
Total Philippine Islands coinage
6,074,758
1.500,000
7.574,758
5.415.778.90
15,000.00
5.430.778.90
BEPORT DIRECTOR OF MINT.
35
During the fiscal year 1910 a power plant was installed for the
purpose of generating the electric current needed for operating motor-
driven machinery and electric lighting.
The power plant consists of three turbo-generating units, switch¬
board, air compressor, cooling tower, jet condenser with accessories,
superheaters, teed water heater, electric - driven fire pump, house
pump, and boiler feed pump; new conduit system for electric wiring,
hot and cold water tanks; water and air piping, covering, etc
The generating sets consist of one 150 kilowatts generator direct
connected to a four stage steam turbine, and two 100 kilowatts
generators direct connected to two stage steam turbines, each hav¬
ing a capacitv of 25 per cent above their rating.
The switchboard is complete in every detail, having indicating
and recording instruments connected with each department through¬
out the building. . . .
The air compressor is used in connection with the water supply
for the building and has a capacity of 68 cubic feet of free air per
minute. . . .A x ,
The condenser is of the let type, having a capacity to condense
4,200 pounds of steam per hour continuously.
The superheaters installed in each battery of boilers have a capa¬
city to superheat 4,200 pounds of steam at 150 pounds gauge 100
degrees F.
The feed water heater is of the open type, designed to purify all
the water supplied to the boilers and to heat the same to the proper
temperature.
The fire pump is of the two-stage type, direct connected to an
electric motor, and has a capacity to deliver 300 gallons of water
per minute against a head of 175 feet.
The house pump is of the triplex type, being driven by an electric
motor. This pump has a capacity to deliver 75 gallons of water
against a heaa of 150 feet.
The boiler feed pump is of the triplex type, having 24 speeds,
and is designed to deliver 12.5 gallons of water per minute.
Visitors.
During the year 52,635 visitors were shown through the mint.
MINT OF THE UNITED STATES AT DENVER, COLO.
The standard weight and value of bullion received during the fiscal
year was as follows:
Metals.
Deposits
ana pur¬
chases.
Rede-
posits
United
States
assay
offices.
Standard
ounces.
Coinage value.
Gold
3,546
551
1,195,622.426
$22,244,138.15
505,907.82
Silver .
595
434,764.54
4,141
551
1.630.386.966
22,750,045.97
—
36
REPORT DIRECTOR OF MINT.
Shipments from refineries, cyanide and chlorination mills aggre¬
gating 483,561.481 standard ounces gold, of a coinage value of
$8,996,492.65, and 22,403.94 standard ounces silver, of a coinage
value of $26,070.06.
Domestic bullion, unrefined, totaled 302,795.065 standard ounces
gold, of a coinage value of $5,633,396.56, and 327,607.80 standard
ounces silver, of a coinage value of $381,216.35.
Redeposits of United States assay offices carried 404,947.336 stand¬
ard ounces gold, of a coinage value of $7,533,903.93, and 80,061.90
standard ounces silver, of a coinage value of $93,162.92.
During the year there were purchased gold and silver coins of a face
value, respectively, of $477.50 and $34.50, and of a coinage value of
$442.79 in gold, and $34.58 in subsidiary silver.
There was but one change in the staff of operative officers during
the year, Air. Jabin B. Baldwin succeeding Mr. Ilarrv Tarbell as
comer March 1, 1910.
\isitors to the number of 55,740 were looked after during the six
months of coming operations.
.The number of officers and employees in the mint at the close of
the fiscal year was as follows:
Department:
General .
Assayer's . 57
Melter’s and refiner’s 8
Coiner's . 23
Assayer's Department.
ToHo^s"111'0118 °f th'S d°par,m<‘nt during the fiscal year 1910 were
Samples operated on.
Deposits .
Redeposlts .
Exchange liars .
Return bars .
Anode melts .
Mint fine meits
Ingot melts. . .
Consolidated melts.
Experimental samples
Bullion assay samples
Copper molts .
Molter’s and refiner's grain bars
Coiner's grain bars..
Assayer's grain bare.
Sweep samples..
Special assay samples'.'. . .
* °”*t Service samples .
Odd.
Silver.
Total.
3,558
595
4,153
514
37
551
40
4
15
55
4
47
464
511
171
101
272
298
293
3
3
139
106
245
9
9
2
2
4
4
8
. ii
22
4
4
21
1
22
32
32
64
192
135
327
208
203
411
• j 5,249
1,703 ;
6,952
copper, 5 samplesT S""* ^ 32 samples for
platinum. ,eaa’ 7 samples for zinc, and 1 sample for
REPORT DIRECTOR OF MINT.
37
Number op Actual Assays Made.
Gold . 20,331
8tlver . 14,611
Swnops . 3S3
Forest Service . 743
Cupels made . 32.000
Lead, cut and rolled . 32,000
Fine Gold Determinations.
The reported finenesses of the refined gold melts were as follows:
Melts.
Fineness.
j
999 5 . .
1
1
999.6 .
999.7 . .
2
999.8 .
3
14
Total . .
998.0..
999.0..
999.1..
999.2.,
999.3.
999.4.
17
39
80
13
Fine Silver Determinations.
Fineness.
998} .
999 0 .
>91.
Melts.
.... 2
30
. 17
... 26
101
Ingot Fineness.
The reported finenesses of the gold ingot melts were as follows:
Fineness.
899.9...
900.0...
900 1. ..
900.2 .
Reinelted . . .
Total..
Melts.
.... 8
.118
138
7
.... 1
292
.... 1
Melter and Refiner’s Department.
The melter and refiner received from the superintendent during
the fiscal year 1910:
Metal.
Gold account
Silver account.
Amount.
Total.
Amount
Total.
Stand, os.
Stand, oz
1.881,945.335
Stand, oz.
16,524.76'
603, 197. 27
Stand, oz.
618,697.62
Returned prior to settlement.
1.677.585. 9<*9
204,665. 805
Returned at settlement ....
1,682.251.774
619,721.97
30(1439
1,024.15
The sundus was recovered from unreported fractions of assays
and from fractional gains in weights of deposits.
The ingot melting room was in operation six months onl>.
The sweeps cellar was operated for slx months and treated S3 206
pounds of sweeps, and extracted therefrom 1,047.455 standard
38
REPORT DIRECTOR OF MINT.
ounces of gold and 1,799.37 standard ounces of silver, and the result¬
ing mill tails contained 296.654 standard ounces of gold and 1,871.51
standard ounces of silver.
Refinery operations covering a period of eight months were as
follows:
Metal.
Gold account.
Silver account.
Amount.
Total.
Amount.
Total.
Delivered to the refinery .
Stand, oz.
Stand. 02.
1,411,433.731
Stand. 02.
Stand. 02.
1,471,908.34
Returned prior to settlement .
1,378, 93& 811
32.965.222
71.556
i, 417, 073. 87
54,854.25
436.44
Returned at settlement in bars .
Returned at settlement in sweeps .
8urplus .
1,411,975.589
1,472,364.56
541.858
456.22
The refinery earnings were as follows :
Charges collected on bullion treated In refinery.
8urplus bullion recovered .
By-products . !”"!!!!!!!”!
Total . .
The following melts were made:
160,565.82
6,173.55
999. 42
67,738.79
Character of melts.
Deposits .
Anodes .
Cathodes .
Ingots .
Mint bars . .
Slimes .
Settlement .
Sweats .
Miscellaneous .
Total .
Ingot melts condemned: None. Remelts: Oold, 1; silver, r
Gold.
Silver.
Gold and
silver.
Total.
3,738
613
4,351
47
464
511
60
50
110
293
3
296
171
101
272
42
57
99
8
14
22
. 3U
314
" ioo‘
264
430
4,525
1,302
578
6,405
Coiner’s Department.
m.Tlr.Ta."L“ii5s str*1 “ ih“ •*”*« *>» «>* »
i ftn<! u^n
tendent 1 252 977 qtamlurri g°W* * delivered to the superm-
*23,311,200 Tho number of °f Pld coin- valued at
The percentage of coin oroHm^l f coi*led aggregated 2,427,950.
was 71.26. The loss in llm ,, ^rom hie amount operated upon
0Urmes’ b^g ^.SO^r'cent^if thea^aftoWanceraS ^ 8t<J”d
the superintendent1 the coi^That1 we^Tf/6*11 'T “ delivering to
“h<™ TE'b2S
BEPORT DIRECTOR OF MINT.
39
no operations of any kind in silver, other than as stated above, this
amount stands as a surplus during the fiscal year, but in reahty it is a
recovery from the previous year’s operations.
The coinage was as follows:
Items.
Pieces.
Value.
2,427,950
166,000
$23,311,200
40,900
2,593,950
23,352,100
ASSAY OFFICE OF THE UNITED STATES AT NEW YORK.
The report of the business of this office for the fiscal year 1910, is as
follows :
Bullion received.
Deposits.
Re-
deposits
Standard
ounces.
Coinage value.
10,517
1,780
1
33
3,103.023.674
2,557,913.85
$57,741,835.87
2,976,481.57
Total .
12,303
34
60,718,317. 44
The gross weight of tins bullion was .
from last year of 2,213,069.70 j deposited was
The value of the foreign gold bullKm and com^aep
- -
follows :
From now production in United States and
From private rellneries .
From jewelers’ bars, plate, etc .
***:v:; ::::
$5,013,870. 54
34,087, 800.23
3,934,082 79
10,3ia23
858,721.82
44,805,754.01
This statement shows a d^^^^^P^p^vate^rSriS of
amount of gold bullion receded weight 0f
§2,427,935.08, and an increase from g
8322,739.67. . # TT -fpfi States mint at Philadelphia,
There was received from the to 55 419.062 standard ounces,
during the year, fine gold amoun | standard ounces,
and fine silver amounting to 1>65 » * 2 gtan(jar(i ounces "old
Redeposited gold bullion consisted of 54^^^ ^ 9 073 standard
contained in lino gold bars (je at the United States assay
ounces contained in imparted ba
office, Charlotte, N. C. J aU~ «nrk«rt.nd bullion
ces coniameu xu -
:e, Charlotte, N. C. , resumed, the unparted bullion
As parting operations have n mnsferred to the United States
sived during the year has b Those shipments amounted to
it at Philadelphia, for treatment. 20464{J standard ounces of
2,418,038.48 ounces gross, ^"V nu^es of ’silver,
gold and 1,481,161.31 standard ounces oi
2,418
REPORT DIRECTOR OF MINT.
40
The amount of bullion delivered to the melter and refiner and by
him returned to the superintendent during the fiscal year 1910, was
as follows:
Bullion.
Delivered to
melter and
refiner.
Returned by
melter and
refiner.
QqP] . . . . .
Stand, oz.
3.205,474.192
2,651,519.47
Stand, oz.
2,949, G92.248
2,529,612. 19
The grains and fluxes from the deposit melting room yielded
$5,802.97, and the sweeps (52 barrels) $5,110.27.
There was stamped during the year 56,099 gold bars and 14,016
silver bars. In the previous years there were stamped 47,434 gold
bars and 13,379 silver bars. Gold bars issued to depositors of bullion
for domestic use, $3,589,277.87. Gold bars exchanged for gold coin
for domestic use, $23,332,333.28. Total gold bars issued for use in
the arts, etc., $26,921,611.15, showing an increase of $4,391,810.85
compared with last year.
Tne value of gold bars exchanged for gold coin for export was
$355,381.93, being a decrease compared with last yearof $17,035,514.33.
The income from the exchange of gold bars for gold coin was
$11,940.49, and from special assays $1,898.
The force employed in this office at the close of the year including
the superintendent, assayer, and melter and refiner, numbered 75,
distributed as follows:
General department . 23
Assayer's department . » . 15
Melter and reflner’s department . . 37
No settlement was made at the close of the fiscal year, it being post¬
poned one month and made coincident with the transfer from Mr.
Kingsbery Foster, superintendent, up to the close of July, to Mr.
Daniel P. Kingsford, who then succeeded him.
The surplus bullion turned over at that time, recovered by the
melter and refiner during the 13 months ending July 31, 1910, con¬
tained 126.872 ounces of gold and 1,41 1.48 standard ounces of silver.
During the fiscal year the foundations for the new refinery have
been completed and a large part of the framework erected.
For greater safety during this construction work $10,000,000 in
fine gold bars were transferred to the subtreasury for storage under
the seal of the supermtendent.
rir11 nle operations of the office have been conducted under very
difficult conditions during the year, every department being very
anJ tampered by the changes and curtailment of space
refinery m 1 10 present bmldmg incident to the erection of the new
Assayer’s Department.
meSVuSZe fiscal £2? “ the de»art'
Thcre were assayed 10 517 melts of gold deposits, and 1 786 melts
of si yer deposits a total of 12,303 melts, involvmg 61 505 a^avs
Hie fmo gold and silver melts assayed were 375 and he fineness was
REPORT DIRECTOR OF MINT.
41
stamped upon 55,954 bars of gold and 6,475 bars of silver, a total of
62,429.
Special assays numbered 928, being largely articles of jewelry and
manufacturer’s samples.
Assays were made on 134 barrels of sweeps and on 155 consolidated
melts for shipment to the mint, with the usual incidental ones for the
melter and refiner, etc.
All cupels used were made in this department.
Melter and Refiner’s Department.
The following is a statement of the business of this department
during the fiscal year ended June 30, 1910:
Items.
Weight.
Gold.
Silver.
Settlement metal of Jane, 1909 .
Gold deposits .
Gross or.
199.150.66
3,114,623.230
2,270,292.05
5,612.52
Stand, or.
101,406. 806
3.066,301.797
37,261.877
443.710
Stand. 02.
92.757.55
212,536.04
2,345,377.21
848.07
Stiver deposits . -
Deposit melting-room grains and fluxes. .
Total
5, 569, CM. 466
3.205,474. 192
2,651,519.47
The melter and refiner returned during the year the following
bullion:
Kind of bars.
Number of bars.
Gold.
Silver.
Gold.
Silver.
55.7S0
174
0,419
Stand, or.
2.011,113.772
61,904.776
Stand, or.
674,317.94
Standard .
Mint .
329
14,157
373.586.34
1,481.161.21
546.70
886,204.640
469.060
2.049,692.248
255,781.944
2,529,612.19
121,907.28
Balance due superintendent June 30, 1910, but not
Total .
55,954
20,905
3,205,474.192
2,651,519.47
There were delivered to the superintendent 98 barrels S melter
and refiner’s sweeps, containing 469.060 ounces standard gold and
546.70 ounces standard silver. u .
The operations of the melter and refiner s melting room were as
follows :
Items.
Gold.
Silver.
Stand, or.
2,251,149.211
297, 358. 761
Stand, ox.
355,505.44
232, 406- 18
2.600,679.423
587.911 .62
Returned from melters: Tops, bars, etc., sweeps and other sources .
\ 58,761.409
f 2.542.003.046
7,051.22
581,987.50
Total .
Apparent gains .
2, 600, 767.455
S&032
589, 03S.72
1,127.10
42
REPORT DIRECTOR OF MINT.
One hundred and twenty-six and eight hundred and seventy-two
one-thousandths ounces standard gold and 1,411.48 ounces standard
silver were returned in settlement of July 31, 1910, in excess of
amounts debited to melter and refiner.
The apparent sources of above amounts in excess are as follows:
Items.
Gold.
811 ver.
Apparent
gains.
Apparent
losses.
Apparent
gains
V jip ircnt
Unparted bars . .
Stand, or
232.371
Stand, os.
Stand, oz.
590.02
Stand, or.
Gold bars .
78.392
Stiver bars . .
%
(V47.32
2SS. 44
Assayer’s account .
Shipments
27. 107
114.30
Net total apparent gnins .
232.371
105. 499
105.499
1,525.78
114.30
114.30
126.872
1,411.48
There was an allowance during 12 months of 162.323 ounces
standard gold on small bars for which this department received no
credit.
THE MINT AT NEW ORLEANS.
The following table show's by weight and value the gold and silver
deposited during the fiscal year 1910:
Met* la
Deposits.
Standard
ounces
Coining
value.
Gold .
836
45
47,151.035
94,332.21
*877,228.50
109. 708.39
Total. .
881
98G. 990.95
*
Included therein are 192.521 standard ounces of gold and 1,515.89
fnTu , °“n.ces °f slJvcr surplus recovered by the melter and refiner
mijJs °Pcrations during the 1 1 months ended May 31 1910
and Sof^lf^J0- tl0n °f,dcP°si‘s °! g°ld from Mexico, Central
thev'aChofAS?lQ^«an<l r0?uUTd 40-288-74!) standard ounces, of
transferred (Y,\,, U deposits of domestic subsidiary coin
and those*1 nnr h Treusu(7' contained 61,412.90 standard ounces
ounces ! JSZPTA Sfo. . C°,Unt,Pr contained 153.05 standard
subsidiary coin of $76,598.37.' 8 dard ounces of the value in now
REPORT DIRECTOR OF MINT. 43
The following table shows the country from which the bullion was
received :
Countries.
Gold.
Silver.
Standard
ounces.
Value.
Standard
ounces.
Value.
Mexico .
17.447
38,240.022
1,405. 475
588.853
36.952
$324.59
711.442.27
20,148.37
10,955.40
687.49
5.85
17,046.54
142.62
189.38
12.77
$6.81
20,534. 15
165.95
220.37
14.86
Q internal* .
Honduras .
Colombia .
Total .
40,288. 749
749.558.12
17,997.16
20,942.14
Assayeh’s Department.
The work of the assayer’s department of the mint consisted chiefly
of assay determinations for the value of gold and silver deposits, being
881 in number. There were also made 151 assays of mass melts, fine
and grain bars. The balance of the work was in assaying samples of
bullion, sweeps, and special bullion, making in all i,099 assays as
follows :
NUMBER OF DEPOSITS AND PURCHASESAND BARS RECEIVED AND ASSAYED DURINO
THE FISCAL YEAR ENDED JUNE 30, 1910.
Classification.
Gold.
Silver.
Total.
Deposits. . . . . . . - . * .
836
45
881
Mint line bars issued . . . . . * . .
52
18
70
Melter find refiner’s m&ss melts . . . ....
25
26
12
12
5
3
8
21
11
32
2
2
4
46
12
58
3
$
2
4
4
Total .
1,005
94
1,099
Melter and Refiner’s Department.
The amount of gold and silver received and operated upon by the
melter and refiner from July 1, 1909, to the settlement of Ins accounts
May 31, 1910, was as follows:
Bullion received .
Bullion returned .
Surplus recovered
Bullion.
Gold.
Silver.
Standard os.
Standard o:.
1W, 291. 965
171,651 55
189, 484. 4S0
173,167.44
192.521
1,515.89
The refinerv operated upon 31,545.985 standard ounces of gold and
73,329.05 standard ounces of silver, of which there was an apparent
gain of 42.995 standard ounces of gold and 100.03 standard ounces of
silver.
44
REPORT DIRECTOR OF MINT.
Silver bullion upon which charges were collected contained 17,1 48.88
standard ounces; silver bullion owned by the Government, upon which
there were no charges, contained 56,080.14 standard ounces.
There were 45.584 standard ounces of gold and 585.58 standard
ounces of silver recovered from eight barrels of sweeps from the
various workrooms of this department. There were also made 996
melts of bullion of all kinds.
Coiner’s Department.
There were no operations in this department during the fiscal year.
OPERATIONS OF THE MINOR ASSAY OFFICES FOR THE FISCAL YEAR 1910.
Mint at Carson. — The deposits of bullion at this mint amounted to
$1,344,718.37, a reduction in the value of deposits from 1909, due to
the discontinuance of deposits by certain mines.
The earnings for 1910 amounted to $6,432.05, exceeding those of
1909 by reason of a clean-up of slag, etc., while the expenditures for
1910 were $14,950.35, or $1,817.26 more than for 1909. The neces¬
sary operatlonsreqllired to handle the above bullion show a total of
addition there were 44 assays of ores and 14 assavs
Assay office at Boise.— The value of deposits during 1910 at this
office amounted to $821,347, being $261,268.98 less than for 1909.
this decrease is claimed to be due to the extremely cold weather,
winch prevented to a great extent mining operations'
IQnQwiTT f0r 1919 were 83,110.55, Being $1,542.21 less than for
exceodTd^hose oHast^eM^y^S 1 1^96 . amounte<* 813,822.20 and
tlie'^hlflrmln0 addition to the regular assays required for
628 assay s?matl°n °f the Value of bullion for payment of deposits,
Assay office at Helena.— 1 The value of the deposits received during
07 62nO7Un^ih°.$2’013’?,32?8 ,ttnd ®-«eeifed U,ose of ,909 bv
manufacture of 9 OOO^upels^There f"8 ^Ce’ wbich, reffuired the
574 bars weighing 17 nfs*' "e.re 49 mass melts made from
Assay office at C^Lrlotte iSM and.'’alued at $272,560.95.
amounted to $89 ‘>Si fifi n rrti deposits of bullion at this office
Of last year tL eamints /nrC, m n °f $21I83190 below tbe deposits
for 1909. The ^finst 81>166 06
of those for last year. e being $282.25 m excess
were made10" 40 ^ regular “«*» deposits 126 assays of ores
during ^g^amounteirto °t «^0D at this offlce
of deposits for 1909, the increase of $1 ffmf u if- '588'53> tbe .yal“°
Jj? the increased deposits mnHn i«r • M being due principally
1122.14 U* „porW
REPORT DIRECTOR OF MINT.
45
were $3,742.32, exceeding those of 1909 by $35.67. In addition to
the regular work of the office there were 25 assays of ores and 29
special assays of bullion.
Assay office at Deadwood. — The deposits received at this office were
of the value of $734,934.53, compared with $1,329,965.43, reported
for 1909. The reduction of $595,030.90 is assumed to be due to the
destruction by fire of a large milling plant. The earnings for the
year 1910 amounted to $2,385.17, a gain of $12.29 over those of last
year, while the expenditures amounted to $7,629.17, or $99.07 less
than in 1909.
There were 416 assays made during the year for the determination
of platinum, gold, silver, copper, lead, tin, and iron. Of these, 113
were made for the Forest Service and 18 for the General Land Office.
There were required for this work 2,500 cupels, which were made in
this institution.
Assay office at Seattle. — The value of deposits at this office is
reported as $12,196,785.81, against $19,314,127.29 for 1909, a, reduc¬
tion of $7,117,341.48, which is accounted for by diminished deposits
of bullion from Alaska as well as foreign crude and refined bullion.
The earnings for 1910 were $19,394.66, being $6,108.42 less than
for 1909. The expenditures were S42, 498.51, against $44,669.29 for
1909. . .
There were 2,133 deposits, requiring 4,800 assays, using in the
operations 12,000 cupels manufactured in this office.
There were 51 special assays of bullion and 112 assays of slag from
the melting room. There were 64 assays for gold and silver and 29
assays for copper made for the Forestry Service. , , _i
The average fineness of the bullion deposited was 0.8671 gold and
0.119 silver. For convenience in shipment to the mints for coinage,
1,551 bars, each under 400 ounces in weight and aggregating
72,527.87 ounces Trov, were remelted into 67 large bars.
The source of the bullion deposited during the fiscal year was as
follows :
Source.
Gold.
Silver.
Total coining
value.
Alaska:
Stand, oz.
3,263. 457
5.863.710
6,906. M0
1.972.876
3.331.876
°1 028. 645
Stand, oz.
645.77
978.69
850.65
355.92
465.60
1,337.48
$61,466.92
110,231.23
129,485.59
37,118.83
62,530. 18
392.786.95
222^426! 617
8.229.351
300.250.791
573,273.975
56.002. 168
7,241 036
8,516.791
25,037.60
1.736.70
43,327.37
74.735.78
11,269.31
1.819. 71
4,167.304.28
155,125.09
5,636.477.47
10.752.526.54
1,066,176-98
134, 7 10. 95
160.569.41
4.356.137
049,990.107
1,504.27
89,329.07
82,795.81
12,196,785.81
Total ™
9 4A
Number of deposits . . . 11,089,880.93
Troy ounces. .
46
REPORT DIRECTOR OF MINT.
Source.
Nome. . $42,379,274. 17
Tonana . 37.977,904.34
Balance of Alaska . 8,661,503.36
Total of Alaska . 89.018,681.87
British Columbia, Canada . 12.406, 17s. 62
Yukon territory- Canada . 86,625,363.97
All other sources . . 2.070,259.74
Total . 190, 120, 484 20
Assay office at SaU Lake . — The value of bullion deposited at this
ollicc amounted to $904,156.37. The earnings for 1910 were $1,508.91
and the expenditures $15,071.12.
There were 333 deposits requiring assay and 5,000 cupels used in
the operations of this institution, which were made on the premises.
To facilitate shipment of bullion to the mint there were 265 bars, all
under 300 ounces, massed into 13 larger bars, the total weight of
which was 8,294.45 ounces.
OPERATIONS OF THE MELTER AND REFINERS AND THE COINERS FISCAL
YEAR 1910.
The quantity of precious metals operated upon in the different
departments of the mints and assay office at New York during the
fiscal year 1910 aggregated 15,036.212 standard ounces of gold and
26,393.567 standard ounces of silver. The figures in the table
following are the actual figures as obtained at the settlement of the
accounts.
GOLD.
Institution and depart¬
ment.
Amount
delivered
by superin¬
tendent.
1-egal
allow¬
ance on
amount
do-
11 vexed.
Amount
returnod
to superin¬
tendent.
Amount
operated
upon.
Surplus.
Wast¬
age.
Loss
of
legal
allow¬
ance.
Philadelphia Mint:
Mollrr and refiner .
Coiner .
Stand, or.
1,830,490.674
307,521.140
Stand, oz.
1,839.491
Stand, oz.
1,840,816.087
307,588.016
Stand, oz.
1,520,737.684
31,048.300
Stand, or
1,325.413
St. oz.
P.et.
66. 876
San Francisco Mint:
Mol ter and refiner . . .
Coiner .
4.096,083 047
2,400,078.498
4.606.083
1,234.539
4.605,998.342
2,469,081.158
4,696.083.047
2,266,857.546
84.705
1.82
2.600
Now Orleans Mint: i
Mclter and reOner . .
Unn rnr \( In t ‘
189,291.065
189 291
189, 484.486
189, 484. 4S6
192.521
Dwi ver Ainu.
Mclter and refiner . . .
1 . 881 , 945. 335 1,881.945
1.882.251.774
1,758,294.710
1,882,251.774
1,758,337.700
306.439
New York assay office: •
Mclter and refiner. . .
a, 100,004. 4 VMJ
42.990
4.89
3,755,220.626 3,755.221
- - - 1. -
3,755,347.498
2,682.372.052
126.872
Total:
Meltcr and re-
finer .
Coiner .
12,302.031.647 12.362.031
12.363.898.187
10.979.920.043
1.951.245
84.705
42.990
| Z.WH.407
4.534.963.884
4,066.243.546
69.536
Grand total .
16,896,968. 9S5| 14, 629. 498
16,898,862.071
15,036.173.489
2.020.781
127.695
• From July 1, not. to settlement M», „. 1.10. . From July 1. .to., to settlement July 31. mb.
REPORT DIRECTOR OF MINT.
47
SILVER.
institution and depart¬
ment.
Amount
delivered
by superin¬
tendent.
Legal
allow¬
ance on
amount
de¬
livered.
Amount
returned
to superin¬
tendent.
Amount
operated
upon.
Surplus.
Wast¬
age.
Loss
Of
legal
allow¬
ance.
Philadelphia Mint:
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
St. oz.
P.ct.
Melter and refiner. . .
6. 825. 648.72
10,238. 47
6,822,418.53
7.151,502.88
3,230. 19
31.54
Coiner .
4,174,142. 49
4, 174. 14
4,173,828.64
3,936,902. 10
313.85
7.51
San Francisco Mint:
Melter and refiner.. .
6,761.007. 10
10,141.51
6,763.554. 15
6,701,007. 10
2,547.05
Coiner .
7,403,812.30
7,403.81
7.400.921.86
7,048,701.43
2,890. 44
‘ 39. 03
New Orleans Mint:*
Melter and refiner. .
171,651.55
257.48
173, 167. 44
173, 167.44
1,515.89
Denver Mint:
Melter and refiner. .
618.697 82
928 04
619.721.97
619,721.97
1,024. 15
Coiner
89i 777. 06
SO . 80
89, 804^37
89.804.37
27.32
New York assay office: *
Melter and refiner. . .
2,800,010.04
4,213. 51
2,810,421.52
612,759.61
1,411.48
Total:
Melter and re¬
finer .
17, 186,015.23
25,779.01
17,189,283.61
15,318, 159.00
6,498.57 3,230. 19
Coiner .
11,667.731.84
11,667. 75
11,664,554.87
11,075,407.90
27.32,
3,204.29
Grand total .
28,853,747.07
37,446.76
28,853,838.48
26,393,566.90
6,525. 89j6,534. 48
1 From July 1, 1900, to settlement May 31, 1910. * From July 1, 1909, to settlement July 31, 1910.
OPERATIONS OF THE INGOT MELTING ROOM, FISCAL YEAR 1910.
The following table shows the amount of bullion converted into
ingots by the melter and refiner and the amount of coin manufac¬
tured by the coiner, with the percentage of coin produced to the
amount operated upon:
OOLP.
Coinage mints.
Philadelphia.
7?° Francisco...
New Orleans *
Denver .
Melter and refiner s workings.
Converted Into
Ingots.
Melts for Ingots (number).
Wastage.
Made.
Con¬
demned-
Re¬
melted.
Stand, oz.
155,588.010
2, 189,675.460
Stand, oz.
763
27
1.772,606.580
'
Coiner’s workings.
Coinage mints.
Bast .
feS*-*-..::::::::
Ingots received.
Rodellvory
of 1909.
Stand, oz.
i 98.435.200
272.381.850
■Y3,oii.‘480
Delivery of
1910.
Stand, oz.
209,085.200
2,189.614.600
1,755,326.220
Amount op¬
erated upon.
Stand . oz.
31,048.300
2,266,857.546
i, 758,337. 700
Coin pro¬
duced.
Stand, oz.
23,713.157
1,280,074.375
i, 252. 977.000
Percent¬
age of per¬
fect coin
pro¬
duced to
amount
operated
upon.
>70.37
56-84
Wastage.
Stand, oz.
48
report director of mint.
SILVER.
Meltor and refiner’s workings.
Coinage mints.
Converted into
Ingots.
Molts lor ingots (number).
Wastage.
Made.
Con¬
demned.
Re¬
melted.
Stand, oz.
3,748,304.40
6,288,197.50
066
3,646
3
4
37
Stand, oz.
1,243.(3
San Francisco .
42,807.05
3
Coiner’s workings.
Coinage mints.
Ingots received.
Amount op¬
erated upon.
Coin pro¬
duced.
Percent¬
age of per¬
fect coin
pro¬
duced to
amount
operated
upon.
Wastage.
Rode! i very
of 1909.
Delivery of
1910.
Philadelphia .
San Francisco .
Stand, oz.
180. 182. 20
801,987.75
Stand, oz.
3,966.018.40
0,215,401.14
Stand, oz.
3,936.902.10
7,048,701.43
Stand, oz.
2,340.252.55
4.171,489.02
63.19
58.17
Stand. >*■
313 Si
2,890.44
>36,970 00
52,807.05
89,804.37
32.873.37
NICKEL.
Meltcr and refiner's workings.
Coinage mints
Converted into
Melts for ingots (number).
ingots.
Made.
Con¬
demned.
Re-
melted.
Wastage.
Philadelphia .
Troy oz.
5,191.652.40
1 005
Troyoz.
- -
Coiner’s workings.
Ingots received.
Perccnt-
Coinage mints.
Itcdellvery
of 1909.
Delivery of
1910.
Amount op¬
erated upon.
Coin pro¬
duced.
pro¬
duced to
amount
operated
upon.
Wastage
L _
Philadelphia .
Troyoz .
360,767.80
Troy oz.
5,191,652. 40
Troyoz.
5,237,617.20
Troy oz.
2,742,310.08
49.39
Troyoz-
8.971.37
BEPORT DIRECTOR OF MINT,
49
BRONZE.
Melter and refiner’s workings.
Coinage mints.
Converted Into
ingots.
Melts for ingots (number).
Made.
Con¬
demned.
Re¬
melted.
Wastage.
Philadelphia .
(Im l r ini'i mi \
Troy 02.
23,035,109.40
1,302,438.50
8,492
Troy oz.
h5. •.«■*. 47
oglu r nuuiscu . . . . .
905
2,324.84
Coiner’s workings.
Coinage mints.
Ingots received.
Percent¬
age of per¬
fect coin
pro¬
duced to
amount
operated
upon.
Redd i very
of 1909.
Delivery of
1910.
Amount op¬
erated upon.
Coin pro¬
duced.
Wastage.
Philadelphia .
Troy oz.
3,414.393.50
3.922.48
Troy 02.
23, (335, 109. 40
1,302,438.50
Troy oz.
26.901,807.90
1,097,617.70
Troy 02.
14,425.498.70
680, 639. 66
53.33
56.76
Troy 02.
San Francisco .
5) 173. 92
1 Unfinished coin.
* Operations on gold confined almost exclusively to unfinished coin.
* Operations suspended.
percentage of loss in melting of deposits, 1910.
In the statement of percentages of loss appended hereto there is
shown a wide difference of loss in melting similar grades of bullion
deposited at the several offices connected with the service. This is
accounted for bv the crude condition in which many of the bars are
presented.
Mints and assay offices.
Num¬
ber of
de¬
posits.
Kings
ana
bars.
Dust.
Re¬
torts.
Philadelphia. .
3 897
0.550
5.730
5.740
Francisco .
6,121
881
.075
3.256
4. 757
New Orleans. . .
.717
208
4.438
yonver ' * .
4 141
3 091
1.674
New York.
lo! 517
.102
.060
4.636
1.094
5.848
S^son .
1*1 IQ
.740
. .
848
2.388
4. 7fli
3.027
Helena .
850
5. 416
5.012
4.856
^harlotto . .
216
.920
7. 747
6.730
fLI(0uls .
329
166
.036
3.367
7. 468
£®**wood .
.070
023
3.983
10. 958
. .
8 553
5.560
Lake City...
2,333
.091
5.693
3. 249
Amal¬
gam
un re¬
torted.
U. S.
eoin.
Mis¬
cella¬
neous.
Nug¬
gets.
Jew¬
elry.
3.560
3.936
2.004
1.643
1.645
21.829
32. 316
2.S25
4.979
53.414
. 11.367
a 253
.067
43.417
51.700
2.514
.350
4.180 ,8.332
1.820 |
.
The percentage of loss in melting bars exchanged for coin was 0.284
and on return bars 9.240, occurring at the Denver Mint.
72663° — II _ 4
50
REPORT DIRECTOR OF MINT.
wastage and loss on sale of sweeps and gains from operations.
The value of the precious metals wasted in the metallurgical and
mechanical departments was $5,676.09. A loss of $4,912.75 occurred
from the difference between the assay value of the bullion contained
in sweeps sold and the amount received for the same, as described
in the following table :
Wastage and Loss on Sale of Sweeps.
Items.
Mint at—
Assay
office at
New
York.
Total.
Philadel¬
phia.
San Fran¬
cisco.
New
Orleans.
Denver.
Mcjter and refiner's fold wastage .
*1,575.90
*1.57590
1,663 17
790.81
1,637. 21
4,912.75
onu ramcr s stiver was Lice.
******* . . . ;
*1.063.17
Loss on sale of sweeps
161. GO
832.24
1.47A61
1,066.68
Total
1766.07
337.56
* 1,010.20
Paid as follow*-
2,657.01
5.018. 10
766.07
1,137.37
1,010.20
10.588.84
JSESWsaassst-
1.065.83
1.501.18
2,983.19
2,005.00
766.07
855l86
281.51
5,670.95
4,917.80
1,010.20
Total
2,657.01
5,018.10
706.07
1,137.37
1,010.20
10,568.84
Again^r t hese'losses ^here'werp6 SWeeP? amounted to *10,588.84.
bullion during the year aggwgati|1n^f.^“ “
Character of gains.
^aaassaftsafsja-.. .
^6»3S3aS£S*=^::
v olur of bullion rvcovrrwWr^Jr . 004,1 for rrcolnar**
from the sale
FfacaJ year
1910.
*40,797 .53
36,006.88
4,508. 89
457.82
-Amount recovered
on account of emberziement! !
1,06ft. 4.5
41,836 82
818.77
- - - - — . . . . . . . 116,543. 3
value oUhf total" 'wist^el b“llion, operated on from tl
ftlW® “ the of thet^d^X’ ^Ze,
REPOBT DIRECTOR OF MINT.
51
RECEIPTS AND DISPOSITION OF GOLD BULLION, FISCAL TEAR 1910.
Institutions.
Deposited.
Redeposited—
Receipts from
assay offices.
TotaL
Deposits.
Uncurrent
United States
coin trans¬
ferred for
recoin age.
Surplus
bullion
recovered.
Philadelphia .
San Francisco. . .
New Orleans ....
Denver. .
$1,535,289.56
34,750,377.94
873, 22& 57
14,704,274.40
67,741,835.87
1,302,626. 74
1,938,916.67
797, 997.72
88.387.51
723,929.92
676,095.98
12,090,312.16
883,894.54
$2,213,740.31
1,292.65
‘$14,771.90
1,266.24
*4,010.40
* 11,661.06
5,490 80
3, 144. 87
335.22
420.25
190. 74
46. 96
368.62
2,527 10
148.29
$20,314, 147.54
7,659,097.19
$24,077,949.31
42,412,034 02
877, 238. 97
22,249,839.39
58,778,378.98
1,305, 771. 61
1,9.39,251 89
798,417 97
88,578. 25
723,970 88
676,465.00
12,092, 839.26
884,042.83
New York. .
Carson .
Helena....
7,533,903.93
•1,031,052.31
Boise .
Charlotte..
St. Louis..
Dead wood.
Seattle.... .
Salt Lake City .
Total
128,107,167.58
2,215,032.96 44,383.45
36,538,200 97
166,904,784.96
* Sr H?}3 amount S217.07 was pained on United States light-weight coin n
Of this amount $10.21 was gaim-d on shipments to PhUadelphia Mint.
• Fine bars received from Philadelphia Mint.
The disposition
follows :
of gold bullion contained in the above table is as
Institutions
Bars paid
depositors.
8hlpped to
the mint for
coinage.
Sold In
sweeps.
Bars
exchanged
for coin.
Coinage.
Wast¬
age-
Total.
Philadelphia. ...
Irancisco...
Orleans....
New York...;."
parson
*279, 195l 85
34,323.91
18,638. 21
13,787.55
3,589,277.87
>$1.031,052. 31
’ "i3,’872. 00
16,487,528. 19
1,288,989 75
1,907.699.80
791.446.58
88, 407 78
734,541.07
690,571 00
12,543,021.10
901,033. 04
$14,633.81
14,639. 21
.1,321.26
2, 60S. 76
7,090. 62
$7,373,683.54
9,057,449 93
23. 687, 715. 2i
$441,175.00
23,826,500.00
123,311,200.00
$1,119.85
1,575.90
* 3. 10,
799.81
$9, 140,860. 36
32,934,488.95
33,834 57
23,328,396.12
43,771.611 89
1,288.989.75
1,968,075.24
791,446.58
88. 578. 25
734,541.07
690.571 00
12,543,021.10
901,081.54
Helena. ..
Boise
sfe .
375. 44
170. 47
ftS"4-
Salt Lake city...
Total .
48.50
.
3.935,817.80
36, 538, 162. 62| 40,293.66
40, 118,848. 68
47,578,875.00
3,498.06 128,215,496. 42
1 Fine bars shipped to New York assay offioe. * Loss on shipments to Philadelphia Mint.
52
REPORT DIRECTOR OF MINT.
BALANCES, RECEIPTS, AND DISBURSEMENTS.
Balances of gold bullion on hand June 30, 1909, and receipts, dis¬
bursements, and balances June 30, 1910, at the mints and assay offices
are shown in the following table :
Institutions.
Balance on
hand June 30,
1909.
Receipts dur¬
ing the fiscal
year 1910.
Total.
Disbursements
during fiscal
year 1910.
Balance on
June 30, 1910.
Philadelphia .
San Francisco .
New Orleans .
Denver .
New York .
Carson .
Helena .
Boise .
Charlotte .
$16,710,902.98
31.808,687.41
2. 759.100. 60
4,974.794.29
7,231,244.51
69.438.33
85,402.80
37,540.31
124,077.949.31
42,412,034.02
877.238.97
22,249,839.39
58,778,378.98
1,306,771.61
1,439.251.80
798.417.97
88,578. 25
723.976.88
676, 465. 60
12,092.839.26
884,042.83
$40,788,852. 29
74.220,721.43
3.636,339.63
27,224, 633. 6S
66 009 623.49
1,375,209.94
2,024,654.69
835,958.28
88.578.25
776.0S4.70
703,632.82
13,921.050.50
059,672.63
19.140,860.36
32.934,488.95
33,834. 57
23.328.396.12
43,771,611.89
1.288,989. 75
1,968,075. 24
791.446.58
88,578.25
734,541.07
690,571 00
12,543,021.10
901,081.54
*31,647,991 93
41,286,232.48
3,002.505 06
3,896.237.56
22,238.011.00
86,220.19
56,579.45
44,51170
8t. Louis .
Dead wood .
Seattle .
Salt Lake City .
Total .
52,107.82
27.167.22
1,828,211.24
75,629.80
41,543 63
13.061 82
1,378,029 40
58,591 09
65.000,227.37
166,904.784.96
232,565,012.33
128,215,496.42
104,349,615.91
COST OF MAINTENANCE.
The deposits, earnings, and expenditures of the mints and assay
offices during the fiscal year 1910 were as follows:
Coinaoe Mints and Assay OrpicE at New York, Fiscal Year 1910.
Institutions.
Num¬
ber of
de¬
posits.
Num¬
ber of
rede-
poslts.
Value of deposits.
Earnings.
Expendi¬
tures.
Employ¬
ees.
Gold.
Silver.
Philadelphia .
San Francisco _
New Orleans .
Denver. . .
New York. .
Total .
8.897
8,108
881
4,141
12.303
1,976
502
551
34
S24.095.00S.64
42,412,034 02
877,228.56
22,244.138.15
57,747,326.60
*3.100,030 52
2,154.413 07
109.768 39
505,907.82
2.977.258.04
*3,756.372 94
917,514.27
9.123. 80
99,396.19
49.2S4.77
*594.909.15
364,600.73
58,858.40
181.879. 40
139,396.26
360
209
23
119
75
~7S6
29.330
3.0Q3
147,375,733.03
8,907,377.84
4,831.092.03
1,339,703.94
1.24051?' Th° PCrrCDlage of net eaminS3 to deposits at Philadelphia Is 11.59955, and at San Francisco
Minor Assay Officeb.
Numljcr
of de¬
posits.
Value of deposits.
Percent¬
—
Assay offices.
Gold.
Silver.
Earnings.
Expendi¬
tures.
age of net
expenses
to de¬
posits.
Employ¬
ees.
Carson .
*1,305,771.61
798,417.97
1,939,251.89
88.578.25
723,976 88
676, 465. 60
12,092,839.26
884,042.83
*38,946 76
■ -
Boise .
*6.432 05
*14,950.35
13,822 20
O 151
8
Helena .
22,929.03
3.110.65
1 an
10
Charlotte .
74,380.09
3,438.22
2L84L74
1 01
12
Bt. Louis. ..
653.41
911.78
4
Dead wood.. .
1,688.79
799. 17
Si 742! 32
7,629 17
3
Seattle _
58,468.93
2,385.17
19.394.66
1,508.91
5
Balt Lake City. .
*333
103,946 55
20,113.54
42[ 496 51
15.071.12
71
1.60
28
7
5,994
18.509,344.29
521,127.70
37,990. 51
123,767.45
*77
1 Includes 3 temporary employees.
REPORT DIRECTOR OF MINT.
53
FREIGHT CHARGES ON BULLION AND COIN.
The freight charges on bullion shipped to the mints by the assay
offices and on coin shipped from the mints to the assay offices during
the fiscal year 1910 aggregated $46,385.68.
movement of gold from the port of NEW YORK.
The superintendent of the United States assay office at New York
has prepared the following tables, giving exports of gold through the
port of New York.
ST£e PoNkt or
1910.
Date.
Countries.
Amount
Rate
of ex¬
change.
1909.
$14,600
2.000,000
500,000
5,150,000
4,000,000
600
3,000,000
3.000.000
10,000.000
4,500,000
4.8775
4 8775
4 8795
48785
4 8765
4877
4 8775
4 8775
4 8785
48785
1010.
April 1 .
. do .
. do .
April 5 .
April 12 .
. do .
Germany .
! . . .
April 19 .
April 22 .
April . .
April . .
. do .
rto .
32,165,200
Recapitulation of G
old Exports to Europe.
Classification.
France, i England.
Germany.
United States coin . . . ! ! .
Foreign coin .
1 $32,164,600
$500 1
$600
3,855
500~ 32,164,600
4,455
$32,169,555
Grand total of exports to Europe. . . . ■■■ ■ ,h Vniertca, Cuba, etc., during the same
Shipped to Indies, Mexico. Central and Soutft Am ^ 3W
. . . 3’, 720,968
period:
United States coin .
Foreign coin .
Grand total of gold exports .
The imports during the same period were a.
r™ Bnrope .^h^-45S6,,SC
Bullion .
Bullion In ore, etc . .
4,123,235
Total gold Imports from Europe . .
vg^STJnu *— ■
5,g|
Bullion . ••• . . 355,852
Bullion In ore, etc . . -
Total gold from
Qrend total of gold Imports.
other port, .
9,323,124
54
REPORT DIRECTOR OF MINT.
NET EXPORTS UNITED STATES GOLD COIN.
The net exports of United States gold coin since January 1. 1870,
are as follows:
Imports.
Jan. l to July 1, 1870.
Fiscal year-
1871 . . .
1872 .
1873 .
1874 .
1875 .
1876 .
1878 .
17.325.783
1879 .
3.654.859
1880 .
18.207,559
1881 .
7,577,422
1882 . . .
4.796,630
1883 .
8.112,265
1884 .
3.824 682
1885 .
3.352.090
1886 .
1,687,231
1887 .
5.862,509
1888 .
5,181,512
1880 .
1.403.619
1890 .
1,849.552
1891 .
2.S24.146
1892 .
15,432,443
Exports.
Period.
Imports.
Exports.
16,384,250
Fiscal year— Cont'd.
1903 .
$6,074,899
$101,844,087
55,491,719
40.391 357
35.661.863
28,766.843
59.309.770
27,542.861
21,274.565
6,427,251
4.120,311
1,687,973
1,741.364
29.MK.2S9
4,802.454
12.242.021
2,345.809
5.400.876
3,560.770
1894 .
30.790,892
64,308.840
1895 .
10.752,673
55,096.639
1896 .
10.189.614
77.789.892
1997 .
57.728,857
23.646,565
1998 .
40.590.947
8.402.216
1899
7,779.123
8.659.856
27.425.587
1900 .
30,674.511
1901 .
3,311.105
8,425,947
1902 .
3. 870. 320
1,519,756
9,370,841
1903 .
18,041 660
1904 .
5,780.607
15,682,424
1905 .
2.236.399
54.409.014
1906 .
1007
35. 251. 921
44,445.402
44,929,518
4,642.690
2,050,563
20, 573. 572
22.632.2S3
1908 .
1909 .
28,246.170
66.126.869
1910.. . .
86,329,314
i, 143,939
Total .
411.797.454
1.187.822.914
3,951 , 736
67,704,900
Net exports .
776,025,460
42,841,963
STOCK OF MONEY IN THE UNITED STATES.
On June 30, 1910, the stock of domestic coins in the United States
was $2,254,511,253, as shown by the following table:
Official Table of Stock of Coin in the United States June 30, 1910.
Estimated stock of coin June 30, 1909
Net Imports, United States coin, fiscal venr 1910 .
United States coin returned in transports from the Phlllp-
glnelslanda, fiscal year 1910, not recorded at the custom
Coinage, fiscal year 1910.'.
United States coin melted for recoinaee (face value)
^arta* StAt*s 00111 to havebeen used in tbe
Net exports. United States coin, fiaal year 1910 .
Annidedllcl«1 by burrau of the mint for excess of
y^T^TTofoT.^ °f “b-ldkr* si,ver 0010 • A*a»
Total. .
EJtiSTac ?i5Sk of *** ta th* Unlt*d States
Gold.
Silver.
TotaL
$1,574,906,904
$727.685. 265
2.052,816
$2,302,592,169
2,052.816
14 770
47.578.875
4, 297^507
51.876; 442
1.622.485,779
734.050,618
2.356.536.397
3,632.(01
814,302
4,446.393
3.500.000
84,278.751
100.000
3.600.000
84,278,751
9,700.000
9, 700. 000
91.410.782
10.614.362
102.025.144
1,531.074,997
723.436.256
2,254,511.253
• Of this amount 11,750 were in 11 pieces.
the Hawaiian <?ol LaroL i J" Ju“* ®> 1910» 570,272,610, which added to
the number returned In Go v m rnVn i it? ^ Imported from tbe Philippine Islands, 150.0U0. and
— July 1. iBJtbi VSBFSKS!^^ 571.410^
1883 the number melted has bwnKJ has been 2,495.0*’. and
4 1 ne 30, 1910, has been 4^Ls f 1 “Ld *** number of Hawaiian dollars
»umd.rd ““ sules 0,1
Since __.v
since 1883 _
melted to June
June 30. 1910,
o subsidiary silver mln<
REPORT DIRECTOR OF MINT.
Bullion in Mints and Assay Oppicks Junk 30, 1910.
55
Bullion.
Value.
Gold .
*104,540,510
3.G4J.04H
Silver (coal) . . .
Total . .
107,091,504
Metallic Stock, June 30, 1905, 1906, 1907, 1908, 1909, and 1910.
Coin and
bullion
Juno 50, 1005.
June 30, 1000
June 30, 1007.
June 30, 1008.
June 30, 1000.
June 30, 1010.
il
*1.357.881. ISO
(180. 401,108
11,472.005.209
<187,058,020
*1,400,050,032
705,330,224
*1,015.140,575
723.504.505
*1,040,607,131
733,250,073
*1,035.424,513
727,078,304
Total...
2.044,282.354
2. 100,054,120
2,171,380,856
2,338,735,170
2,373,817,204
2,302,502,817
Ownership op Gold and Silver in the United States June 30, 1910.
Gold coin
Sliver coin and bullion.
Total told
ana
Ownership.
and
bullion.
8llver
dollars.
Subsidiary
coin
Silver
bullion.
Total
silver.
allver coin
and
bullion.
United State* Treasury
(free) .
*241,702.322
802,754.100
151,120,801
•*a n?c nnn
*17,247,750
478.507.238
*10,575,017
*3, 042,048
*40,404.821
*282.257,143
United State* Treasury
(lor ccrUAcatc* out-
"land Inc) .
478.507.238
32.007,010
1,281,351.437
183,226.901
70.075.000
National tanks (Juno 30). .
National hanks (for clear-
1 11 t i f 1 . kt V
13.455,754
18. 041, 250*
.
Ur ynte bank* and In¬
dividuals .
308,773, 101
58.070.7fO
116.042,475
175,010.235
544.002.330
Total .
1,035.424.513
1
568,277.508
155,158,748
3.642.048
727.078.304
2,302,502.817
Location op Moneys ok the United States June 30, 1910.
Money.
In Treasury.
In notional
banks June 30,
1910
In other
bunks and In
circulation.
Total.
METALLIC.
Gold bullion.
*104.340.510
3.042,048
940.107,005
403,844.994
10,575,017
*104.349.510
3.042.048
1,531,074.997
568/277.608
155.158.748
Silver bullion .
l *222.104.891
13.455.754
18.041.250
58.070.760
110.942.475
3oltl coin .
« ^r dolta,, .
subsidiary silver colu
Total metallic .
1 . 563,008, 580
254.201.001
544.092.330
2,302.502.817
PAPElt.
^Wsrr«?“,“1714 ,sa"'
11,803,146
0.475
20.771.108
170,429,038
158.358.832
3.002.525
034.2U0.0h9
340. 081. 010
3,072,000
713.430.733
* 49,453,440
Total notes . .
41.073.810
225.882.484
790. 227. 440
1.003.783,749
?i?U°,,rUnptt‘«i .
Nllvar oartlficatiw
00.182.070
10.510.702
70.702.432
200,702.390
12S.43U 5e>4
536.051.809
355.157.674
Total carUAcatas .....
Grand total
300. 141.954
891.209.483
■■ . 1
1.075.984.831
870,220,330
2,232,129 205
3, 426,280,506
» Includes *70.075.000 cul d cli«lng-h^*« jJJilienl national banka.
• Includes *7.700,515 of tholr own uotas bald b> uinoro.u
56
REPORT DIRECTOR OP MINT.
Estimated Stock op Gold and Silver in the United States and the Amount
Per Capita at the Close of each Fiscal Year since 1873.
Fiscal year ended June 30—
Population.
Total stock of coin and bul¬
lion.
Per capita.
Gold.
Sliver.
Gold.
Silver.
Total
metallic.
1873 .
41,677,000
$135,000,000
$6,149,305
$3.23
$0.15
$3.38
1874 .
42,796,000
147,379,493
10,355,478
3.44
.24
3.68
1875 .
43,951,000
121,134.906
19,367,995
2.75
.44
3.19
1876 .
45,137,000
130.056.907
36.415,992
2.88
.81
3.69
1677 .
46,353.000
167.501,472
56.464,427
3.61
1.21
4.82
1878 .
47.598,000
213,199,977
88,047,907
4.47
1.85
6.32
1879 .
48,866.000
245,741,837
117.526.341
5.02
2.40
7.42
1880 .
50,155,783
351,841,206
148,522,678
7.01
2.96
9.97
1881 .
51,316,000
478,484.538
175,384,144
9.32
3.41
12.73
1882 .
52,495,000
606.757,715
203.217,124
9.65
3.87
13.52
1883 .
53,693.000
542,732,063
233,007,985
10.10
4.34
14.44
1884 .
54,911.000
545,500,797
255.568.142
9.93
4.65
14.58
1885 .
56,148,000
588.697,036
283.47S.78S
10. 48
5.05
15.53
1886 .
57.404.000
500.774.4C1
312,252.844
10.29
5.44
15.73
18S7 .
58,680,000
654,520,335
352,993,506
11.15
6.00
17.15
1888 .
59,974,000
705,818.855
386.611,108
11.76
6.44
18.20
18S9 .
61,289,000
080.063,505
420.548,929
11.09
6.86
17.95
1800 .
62.622,250
695.563.029
463.211,919
11.10
7.39
18.49
1891 .
63,975.000
646,582.852
522,277,740
10.10
8.16
1&28
1892 . .
65.520.000
664,275,335
570,313,544
10.15
8. 70
18.85
1883 .
66.946.000
597,097,685
615.861.484
8.93
9.20
18.13
1804 .
68,397,000
627,293,201
624.347,757
9.18
0. 13
18.31
1895 .
69,878,000
63(i,229,S25
625,854,949
9. 10
8.97
18.07
1896 .
71.390.000
599, 597,964
628,728,071
8.40
8.81
17.21
1897. . . .
72.937,000
096,270,542
634.509,781
9.55
8.70
18.25
1898 .
74.522,000
861,514,780
637,672,743
11.56
8.56
20. 12
1899 .
76.148,000
962,865.505
639,286,743
12.64
6.40
21.04
1900 .
76.891,000
1,034.439.264
647,371,030
13.45
8. 42
21.87
1901 .
77.754,000
1.124,652,818
661.205,403
14.47
8.50
22.97
1902 .
79,117.000
1.192,395,007
670,540,105
15.07
8. 48
23.55
1903 .
80.847.000
1,249.552,756
677,448,933
15.45
8.38
23.83
1904 .
81,867,000
1.327.672,672
682,383,277
16.22
8.33
24.55
.
83.250,000
1.357,881,186
686,401, 168
16.31
8. 24
24.55
84.662,000
1.472,995,209
687,958.920
17.40
8.12
25.52
86,074,000
1,466,056,632
705,330,224
17.03
8.20
25.23
87,496,000
1,615,140,575
723.594.505
18. 46
8.27
26.73
JQJQ* . .
88.926,000
1.640,567,131
733.250.073
18.45
8.25
26.70
.
90,363,000
1,635,424,513
727,078,304
18. 10
8.05
26.15
UNITED STATES GOLD COIN IN CANADA.
The holdings of United States gold coin in the treasury of the
Uonumon of Canada on December 31, 1909, was $62,988,474.
lho holdings of the charter banks (29 in number) on the same date
aggregated $17,364,362 or 63.24 per cent of their specie holdings.
Ae terelwTf U"‘ted States gold coin in Canadian reserves on
the foregoing date was therefore $80,352,S36.
GOLD AND SILVER USED IN INDUSTRIAL ARTS IN THE UNITED STATES
DURING THE CALENDAR TEAR 1909.
trials? rt® ^Ty,° c.°f 8°ld,.aud sdver bars for use in the indus-
Stets^a^ofKt KTSZ and the United
aupntlv flin ioT.rv f.e" hold the foremost places; conse-
8roS’ under Tov P° OI? °f ^he materi,d consumed in the arts is
brought under Government notice and is a matter of public record.
REPORT DIRECTOR OF MINT.
57
The following table gives the value of the gold and the quantity of
the silver bars issued by the Government institutions and private
refineries during the calendar year 1909, with the class of material
from which they were made:
Gold and Silver Bars Issued by the Government Institutions and Manufac¬
tured by Private Refineries for use in the Industrial Arts during the
Calendar Year 1909.
Materials used.
Value of gold issued by—
Weight of silver Issued by—
Govern¬
ment insti¬
tutions.
Private
refineries.
Total.
Govern¬
ment insti¬
tutions.
Private
refineries.
Total.
Domestic bullion .
Foreign material .
United States coin .
Old Jewelry, etc .
Total .
$18, 455,948
10,561,060
08
2,870,870
$224,255
207
304,458
2.015.829
$18,080,203
10,561,867
364,556
4,886.699
Fine ounces.
594.763
1,605.856
354,629
Fhu ounces.
15,634,015
3,209,021
1,500
6.425,498
Fine ounces.
16,228,778
4,814,877
1,500
6,780,127
31,888,576
2,604,749
34,493,325
2,555,248
25,270,034
27,825,282
Estimating that the total amount of gold coin used in the arts dur¬
ing the calendar ‘year 1909 has been $3,500,000, and silver com
$100,000, equivalent to 77,344 fine ounces, the total industrial con¬
sumption would be as follows:
Materials used.
Gold.
Silver.
Value.
$18,680,203
10.561.867
3.500.000
4,886.099
Fine ounces.
16,228.778
4,814.877
77.344
6,780,127
United States coin .
37,628,709
27,901,126
In order to arrive at the net consumption in the 0f
there should be deducted from the foregoing ^ t^e same
O d jewelry, plate, etc., included, and also c ^ year 1909 these
class of material returned to coinage use. 1 9C:> f ounces of
amounts aggregated ?7, 380, 560 in gold, and fi
«*lver, which leaves $30,248,209 of. ^^vo^d to industrial use.
of silver as the net amount of new bullion
58
REPORT DIRECTOR OF MINT.
The following table gives the amounts and the classification of gold
and silver used in the industrial arts in the United States since 1880:
Gold and Silver Bars Furnished for use in Manufactures and the Arts,
and Classification of the Material Used, by Calendar Years, since 1880.
GOLD.
New material.
Old
material.
Grand
total.
Calendar years.
United States
coin.
Domestic
bullion.
Foreign
bullion and
coin.
Total new
material.
1880 .
$3,300,000
$0, 000, 000
*1,267,600
$10,567,600
$395,000
$10,962,600
1881 .
2.700,000
7,000.000
1,547.800
11.247,800
522,900
11.770.700
1882 .
2,500.000
7.000.000
671.500
10.171.500
096,500
io.8fAH.noo
1883 .
4.875,000
7,840,000
194,500
12.909.500
1,549,300
14,458,800
1884 .
5,000,000
0,000,000
385,500
11,385,500
3.114.500
14,500.000
1885 .
3,500,000
0,730,927
178,913
10,415,840
1.408.9U2
11,824,742
1886 .
3,500,000
7,003,480
638,003
11,141,483
1,928,046
13, OeO, 529
1687 .
3.500,000
9,090.342
384,122
12,974,464
1,835.8)3
14. 810,346
1S88 .
3,500,000
9,893,057
718,809
14,111,866
2,402,976
16,514,842
1889 .
3.600,000
9,066.827
291,258
13,478,085
3,218.971
16,697,056
1890 .
3,500,000
10,717,472
362. 0ti2
14,579,534
3,076, 426
17,655,9t0
1891 .
3,500,000
10,097,679
028,525
14,826,204
4 , N » ! , 7 1 2
19.686,910
1892 .
3,500,000
10,588,703
771,086
14,860,389
4,468,685
19.329.074
1883 .
1,500,000
8,354,482
804,254
10,658,736
2,777, 165
13,435.901
1894 .
1,500,000
6,430.073
543,585
6,473,658
2. 184.946
10.658.004
1895 .
1.500,000
8,481,789
471.027
10,452,810
2,976.206
13.429,085
1800... .
1.500,000
7,209,787
316,804
9,026.591
2,369.343
11.395.934
1897 . .
1,500,000
7,184,822
613.981
9,298. 803
2,571,428
11.870.231
1898 .
1,500,000
9.463,202
437,641
11,400,903
2. 164.976
13.565.879
1899 . .
1,500,000
13.267,287
344,906
15,112.193
2.734.985
17.847.178
1900 . .
1,500,000
14.582.027
584,903
16,667,530
3.480.612
20.14S.142
1901 . .
1,500,000
16,296.088
6S5.642
18.482.330
3.386,626
21,808,936
1902 .
1,500.000
18.653.C25
851.673
21,005,298
4,677.549
25.682,847
1903 .
3.500,000
19, 944,365
953,597
24,397,962
4,665.589
29.063.551
1904 .
3, 500,000
12.298,459
7,131,577
22.930.03i.
5,725,927
28.655.963
1905 . .
3,500.000
20,550,910
3.662,069
27,621.979
5,586.636
33.208,613
.
3,500.000
18.667,804
10,452.037
32,619,841
6.508.922
39, 128.763
3,500,000
15.540,924
14.502.571
33.549,495
7,177,575
40.727.tC0
. . *
3,500,000
8,407,971
2.840,974
14,754,945
16,721. 146
31.476.091
.
3.500.000
16. 186,342
10,561,867
30,248,209
7,380,560
37.628.709
Total .
85,875,000
329,790.704
63,705,386
479,371,090
112,567,054
591,938,144
SILVER (FINE OUNCES).
1880 .
n rt
273,023
4,716.422
5.142,585
1881 .
l*UfiK7
3, 867 , 188
4,563.281
4.906.920
3, 576, 143
3. 480, 409
3,511,310
2,804,635
3,173.208
5.010.218
5.644,495
5,525.155
5,637,642
5,572,006
5,082.054
6,635,685
7.599,323
6, 160.777
4,604,274
112,148
1882 .
1U ACT
286,945
5,004.913
137,672
1883 .
164 087
340,544
5. 402, 151
164.065
5, 5M>, 816
4.2S5.308
4,209,374
1HS4 .
1885 .
164!687
119.883
502,734
3,850,713
4, 137,890
434,595
131,484
1886 .
48,501
3,714,498
357. 472
4,071,970
1887 _ _
1%4 ACT
638,562
3,507,884
312,589
' 3.9W.JIW
1888 .
fCT
506,505
607.082
3,834.490
371,710
4,206.209
1880 .
1&4ACT
5.761,987
504,318
6,266.305
1800 .
act
508,920
6.308, 102
472, 582
6,780,684
1891 .
963,254
6,643,096
6,763.845
6,003.336
6.505.724
7, 472. 853
8. 429.609
7.050.508
7,809.932
9.9S4, 485
495.077
7,138.173
1892 .
1*1 ACT
971,516
663.707
500.706
945,787
944.504
1,065.902
7, 427. 552
1893 .
966,643
7. 1W.042
1894 .
1,346.326
7.451.511
8.417,35”
9.495.511
7, 892,368
S.663.3S9
10,718.718
10,578.817
13,217.28.;
14, 133,696
19.345.009
19.968,256
20,479.9-v
1893 .
7^*
759,824
1896 .
752.942
1897 .
821, 3S7
1898 .
• 4 , 344
7,116.009
616,579
1809 .
77.344
9.417,981
489. 160
529, 137
■oi* <y>4
1900. ...
8.388,658
10, 423, 485
8, 995*, 130
1 (S' rw
1901 .
77,344
940,450
1,038.409
1,289,623
954.930
1,218. 122
2.754,003
2,734.187
4,628,208
{ • yT'
1902 .
77,344
11,809,418
12' 925* 171
1903. . .
77, 344
15.236.711
lit ftfl'l
0 7*1 * rn
1904 .
77,344
15,016,256
QUS. O, o
1 f, rue
1905 .
77, 344
77,344
16.029,834
1IJ, UlS. !w
3 91Q 705
s!sm!«87
4,289,023
3,810,105
2.232, Ml
1906 . .
16.580,307
17 925 300
1907 .
77, 344
15,231,828
19, 411,654
254
1908 .
77, 344
77,344
17.431,091
18,043, 150
24’,3iw!7S4
23. 850, S3
27.901,126
1909 .
15,842.812
4,490 (M2
22, 13< , 243
Total
77, 344
16,066,943
4.814,877
20,411,008
20,950, 164
| 3, 439. 730
6,941,962
3,635,155
257,942,242
36,903,308
298,480,705
| 44,532,789
343,013, 494
REPORT DIBECTOR OF MINT.
59
The value and composition of bars issued for use in the industrial
arts by the Government institutions during the fiscal year 1910 were
as follows:
Materials used.
Gold.
Silver.
Weight.
Value.
Fine ounce*.
991,649,185
23.776
533.997 489
1.063.306
141,590.005
521,536,655. 42
491.50
10,063,275.82
22,766.05
2,925,937.67
Fine ounm.
2,029,845.71
United States coin .
Foreign bullion . . .
Foreign coin . .
Old material . . .
i, 033, 642. 87
5,067. 10
347,319.75
27,72860
1,668,344.361
34.549,128.46 j 3,444.204 03
EXCHANGE OP FINE GOLD DA US FOR GOLD COIN AND GOLD BULLION.
The value of the fine gold bars furnished
fork. r..r .1- M >»•
was as follows :
Months.
Exchanged for gold coin.
Phila¬
delphia.
New York. Total.
1909.
July .
August .
September .
October .
November .
December .
1910.
January .
February .
March .
April . .
“ay .
June .
Exchanged for gold bullion.
Phila¬
delphia.
New York.
IMS. 253. 37 *1 . 367, 348. *0 $1 . 912. 601 . 97
» iq m2 US 1 952.052 34 2, 5« 1.064. 42
SS|SaS||||
714 457.92 1,934.344.44 2,668.802 36
72o' 538. 73 1 , 955, 255. 98| 2, 675, 804. 71
5^’, 243 78| 1,985:379.791 2,567.623.57
|20, 058- 87
24.526.61
19,616 85
27.398.67
16.794.45
23, 727 34
18,705. 71
15.517.86
21, 254. 14
30,(187.05
32,030.84
28,877 5ft
r291.208.92
234.898.36
276,870.00
319.02132
336,397 87
304.643.37
Total
?^3. 5423,6*7,715. 21 31,061,398 75 279, 19-5.85
322,445.04
304,061 03
313,240. 17
311,414.68
260,704.31
299,055. 70
Total.
$311,207. 79
259,424.87
296, 48o. 85
347,019.99
353, 192 32
328,370. 71
341,150.75
320,178 89
334, 494 31
341,501.73
293,335.15
327,933 26
3,575160.773,854,356.62
M rVs industrial consumption of tub precious metals in
the world s 1909.
XnThese eU'i mates only new material is taken into account.
product of gold and silver in tub united states in 1909.
The detailed statistics of the product of gold and silver in the United
States for the calendar year 1909 are presented in a special report to
the Secretary of the Treasury.
60
REPORT DIRECTOR OF MINT.
The distribution of the product among producing States and Terri¬
tories was as follows :
Approximate Distribution, by Producing States and Territories, of the
Product op Gold and Silver in the United States for the Calendar Year
1909.
[As estimated by the Director of the Mint]
State or Territory.
Gold.
Silver.
Fine
ounces.
Value.
Fine
ounces.
Commer¬
cial value.
Alabama .
1, 413
983 928
129,200
Of) OQQ 1 JVk
200
Alaska .
Arizona .
127 071
2 620 800
1 019 vJn
California .
1, 001 * 537
20,' 703,' 000
Of fclA | J'Wk
4, O 4o, UW
2 304 goo
1 1W 500
Colorado .
Q UJJl QAn
Georgia .
^ * ^2’ 099
41, 510, UW
O, 9fb, oOU
4 G00 100
Idaho .
Illinois .
Michigan .
to,’ 026
1,344)200
6,755,900
900
217, UK)
15,200
12,034,500
3,513, 100
500
113, 100
7,900
6,257,900
Missouri .
Montano .
10
181,411
200
3,750,100
1 ll OQi. Otki
Novada .
Now Hampshire .
10, Mb, M)
10, 119, 200
3,000
5, 262, 000
1,600
Now Mexico .
North Carolina. .
12.229
252,800
324,200
168,600
Oregon .
1,519
31 , 400
400
60,600
200
36,200
Pennsylvania .
Dhlllrininn Tclnn/lo
40, 103
300
829,000
6,200
247, UK)
600
7,400
0,573, GOO
4,300
400
4,213,300
4,000
420,000
3,900
j iiiiipuino islands.
Porto Kico . .
South Carolina . .
11,978
29
358
317,998
208
19
203,818
194
20,753
189
3,000
1,600
South Dakota .
Tennessee . .
Texas . . .
Utah . .
190,300
65,300
408, 100
10,551,100
6,400
75,200
1,800
102, 100
33,900
212,200
5,486,600
3,300
39,100
900
v iiM'UU . .
Washington . .
Wyoming .
Total .
4.821,701
99,673,400
54,721,500
28, 455,200
world’s coinage.
£ foT* a table’ revised latest infer¬
tile world durimr 1 1 >ltlnS tho coinages of the various countries of
Th« fill ? caJe"dat: years 1907, 1908, and 1909
bureau fe been able £ IT"!? tabl,e rePresent> aa nearly as this
ounces consumed in 1 l,„ as<’erlaln> the total value of, and the fine
worhfsince ?873 ’ the gol<1 and sllver coinages executed in the
does not correcth^miresent thnT^’ tbat-t,u? total of these coinages
made into coins during the year ^ TrT <>f n<>W fi°ld and new si'V"r
reported include tho v^i„A *or,. 6 reason that the coinages as
recoinage, ^ wtu ^ material pl^Ce^d ^ ^ m°ltcd f°r
In the circular letter of innniJ. >a’ e™> used In coinage,
foreign Governments throuih ('i,I>r?Pared at tllls bureau and sent to
information on these “ DePart‘>?cnt of State, asking for
country report the amount of’snrh^ esPec,ally requested that each
m many instances, but not in all Tecom*Ses- This has been done
REPORT DIRECTOR OF MINT. 61
Coinage op Gold and Silver op the Mints op the World by Calendar Years
since 1873.
Calendar years.
Gold.
Silver.
Fine ounces.
Value.
Fine ounces.
Coining value.
1873 .
12,462,890
1257,630,802
101,741,421
$131,544,464
1874 .
6, 568,279
135,778,387
79,610,875
102,931,232
1875 .
9, 480,892
195,987,428
92, 747, 118
119,915,467
187C .
10,309,045
213,119,278
97,899,525
126,577, 164
1877 .
9,753,196
201,616,466
88,449,796
114,359,332
1878 .
9,113,202
188.386,611
124,671,870
161,191,913
1879 .
4, 390, 167
90,752,811
81,124,555
104,888,313
1880
7,242,951
149,725,081
65,442,074
84,011.974
1881 .
7,111,864
147.015,275
83.539,051
108,010,086
1882 .
4,822,851
99,697,170
85,685,996
110,785,934
1883 . .
5,071,882
104,845,114
84,541,904
109,306,705
1884 .
4,810,061
99,432,795
74,120,127
95,832,084
1885 .
4,632,273
95,757,582
98,044,475
126,764.574
1886 .
4,578,310
94,642,070
96,566,844
124,854,101
1887 .
6,046,510
124,992,465
126,388,502
103,411,397
1888 .
6,522,346
134,828,855
104,354,000
134,922,344
1889 .
8,170,611
168,901,519
107,788,256
139,362,595
1890 . .
7,219,725
149,244,965
117,789.228
1.52,293.144
1891 .
5,782, 463
119,534,122
106,962,049
138,294.367
1892 .
8,343,387
172,473,124
120,282,947
155,517,347
1893 . .
11,243,342
232,420,517
106,697,783
137,952,690
1894 .
11,025,680
227,921,032
87,472.523
113,095,788
1895 .
11,178,855
231,087,438
98,128,832
126,873,642
1896 .
9,476,639
195,899. 517
123,394,239
159.540.027
1897 .
21.174,850
437,722,992
129,775,082
167,790.006
1898 .
19, 131,244
395,477,905
115,461.020
149, 282,936
1899 .
22,548,101
466,110,614
128,506, 167
166,226,964
1900 .
17,170,053
354,036,497
143.362,948
185.358,156
1901 .
12,001,537
248,093,787
107,439,660
138,911,891
1902
10.662,098
220,405,125
149,826,725
193,715,362
1903.. . .
11,634,166
240, 499.547
161,159,508
211,795.829
1904
22,031,285
455, 427, OSS
136,518,406
176,508.646
1905
11,898,037
245,954,257
134,062,314
173,333.093
1906 .
17,721,058
366,326,788
120,339,501
155, 590. 4G6
1907 .
19,921,014
411,803,902
171,561,190
221,816,876
1908 .
15,828,573
327,205,649
151,352,824
195,688, 499
1909 .
15,153,116
313,242,714
87,728,951
113,427,331
Total .
402,233,153
8,314,897,286
4,090,598,592 |
5,292,282,739
FOREIGN COINS MELTED BY VARIOUS COUNTRIES.
The foreign gold and silver coins melted by the countries or tne
world during the calendar years 1907, 1908, and 1909, so far as have
been reported to this bureau, are exhibited in the following table:
Countries.
1907
1908
1909
Gold.
Silver.
Gold.
Silver.
Gold.
Silver.
United States.^- - .
Austria-Hungary .
$12,330,623
207,274
$250,132
28,912
3,162,733
$3,767,669
401,573
$103,076
14.778
$147,413
11,345
$19,268
Great Britain .
4,990,384
400,997
285
Germany .
1,338
1,114
2,435,637'
5,955
324,543
633,418
299,408
60,785
260,312
. — .
Portugal .
9
150
10,981
Russia .
302,826
168,957
Turkey .
Total .
9,219,795
4,770,012
20.469
8,076,902
31,477,363
3,949,768
11,836,823
438.845
8,519, 1«3
343,811
REPORT DIRECTOR OF MINT.
62
UNITED STATES GOLD COIN IMPORTED AND MELTED BY VARIOUS
COUNTRIES DURING THE CALENDAR YEAR 1909.
The following table shows the amount of United States gold corn
imported by various countries and the value of the United States
gold coin melted at their mints:
Countries.
Import of
United
States gold
coin.
Total import
of gold from
United
States.
United
States
gold coin
melted.
$11,345
$5,427,453
16,981
240,000
30,000
400,000
611,742
4,710
RussuT .
16,981
0 uatemala .
Guiana (Dutch) , , . - . . .
. .
Venezuela . - . . .
4,992
Great Britain . . . . . .
‘ $14,384,328
Total .
6,730,886
14,384,328
33,318
i Of this amount, $188,658 was British ooln; $11,282,828 foreign coin; and the balance, $2,912,842, was in
bullion
RECOINAGES OF THE WORLD.
The following table, compiled from official sources, exhibits ap¬
proximately the gold and silver recoinages in the principal countries
of the world for the calendar years 1907, 1908, and 1909, so far as
has been reported to this bureau :
Countries.
1907
1906
1909
Gold.
Silver.
Gold.
Sliver.
Gold.
Silver.
United 8tates .
Australia .
$3,072,960
3,474
1,610,137
$1,233,298
$5,321,467
1,631,393
1,448,904
$977,211
$2,704,802
914.941
3,388
$759,677
Austria-Hungary .
Belgium .
i, 620, 440
5,189,278
1,520
2,191,796
219,100
2,101,895
3,322,111
3,132,457
Canada .
V ranee .
Germanv .
Great Britain .
India (British) .
62,496
1,786,864
13,139,550
1,170,829
20,216,679
3,509,414
10,345,352
3,769,263
2,299,669
2,992,255
1,869,300
14,847
69,858
2,256,230
16,059,450
3,110,555
589,058
1,347,083
7,864,566
1,444,379
4,933,160
14,599,500
Italy .
Japan .
Mexico .
1,137
9,314
1,797
3,944,363
989,486
3,011,463
9,836
41,534
12,924
5,319,499
535,065
Netherlands .
Norway .
Peru .
14,606
Portugal .
Russia .
Slam .
2,782
1,309,429
1,017,395
10,767,000
718
920,233
470,654
2,031.692
12,772
Straits Settlements .
6,920,500
35,532
193,000
527,568
r>we<jen .
i07
1,136
23,007
115,800
Switzerland . . .
267,305
989,788
Turkey .
Total .
9,219,795
34,613
28,908,509
63,392,263
26,824,537
35,680,266
24,614,230
20,251,651
REPORT DIRECTOR OF MINT.
VALUES OF FOREIGN COINS.
63
Treasury Department,
Office of the Secretary,
Washington, October 1 , 1910.
iRQd of th,e Prolisio?s1Pf s?ction 25 of the act of August 28,
fvr . Proclaim the following estimate by the Director of
the Mint of the values of foreign coins to be the values of such coins
in terms of the money of account of the United States, to be fol-
lowed in estimating the value of all foreign merchandise exported
to the United States on and after October 1, 1910, expressed in any of
such metallic currencies. J
A. Piatt Andrew,
Acting Secretary.
Values op Foreign Coins.
Standard.
Monetary unit.
Value
in terms
of
United
States
gold
dollar.
Country.
Argentine Republic.. . .
A ust ria-I I ungary .
Belgium .
Bolivia .
Brasil .
British possessions,
North America (ex¬
cept Newfoundland).
Central American
States:
Costa Rica .
British Honduras. .
Guatemala .
Honduras .
Nicaragua .
Salvador .
Chile .
China.
Colombia..
Denmark . .
Ecuador . . -
Gold .
...do..
.do.,
.do..
..do .
...do.
. ..do.
liver.
Gold..
..do...
.do...
Peso...
Crown.
Franc .
Boliviano.
Milreis....
Colon . .
Dollar. .
Tael...
Dollar.
do . .,
Crown.
Sucre. .
Amoy .
Canton .
Chcefoo .
Chin Kiang.
Fuchau .
II a i k wa n
(customs).
Hankow _
Klaochow...
Nankin .
Niuchwang .
Ningpo.....
Peking .
Shanghai _
Swatow ...
Takau .
Tientsin .
.Mexican....
*0.905
.203
.193
.389
.546
1.000
.465
1.000
.641
.639
. C13
.G2G
.034
.001
.610
.025
.585
.592
.045
.021
.421
.421
.424
1.000
.268
.487
Gold: Argentine (*4. 824) and \ argen¬
tine. Silver: Peso and divisions.
Gold: 10 and 20 crowns. Sliver: 1 and
5 crowns.
Gold:10and20francs. Silver: 5 francs.
Gold: Silver boliviano and divisions.*
Gold: 6, 10. and 20 milreis. Silver.
}, 1, and 2 milreis.
Gold: 2, 5, 10, and 20 colons ($9,307).
Silver: 5, 10, 25, and 50 conti mos.
Silver: Peso and divisions.
Gold: Escudo (11.825), doubloon
($3.05), and condor ($7.30). Silver:
Peso and divisions.
i Gold standard adopted Dec.
(S4.8G6J).
Gold: Condor (*9.047) and double
condor. Silver: Peso.
Gold: 10 and 20 crowns.
Gold: 10 sucres (*4.SGC5). Sliver:
Sucre and divisions.
81, 1908. 12} bolivianos equal the pound sterling or Peruvian pound
64
REPORT DIRECTOR OF MINT.
Values op Foreign* Codcs— Continued-
Value
of
United
u.*a
-m
:: a Si
AS66i
.IB
Goid: Pound (WO piasters'. S, W, *.
and 50 pmaers. Sdver. 1,2.5.*;
and 20 piasters
Gold: 29 msris (B-SO), W marts
s; X
Gold: 5, 1£L 30, 50, and 190 frano.
Sarer: 5 (rare?
Gold: 5, JO. and 30 Darts.
GokL Sovereign (pound sterling sod
i sovereign.
Gaid: 5. H>, 30. 50. and 100 dradi=as.
Stiver 5 dradimas.
Gold: 1.2,5, and 10 gourdes. Sdrer
Gourde and divfeaacs
Gold; Sovereign (pound sterLar.
Sdrer: Rapee and dinsaaus.
Gold: 5, 10. 30.50, and 100 lire. Savm
5 hie.
Gold: 5, 16, and 30 yen. Silver: M,
30, and 50 am.
SBver. DoOar*
Gaid: 5 and H> pesos. Save
(or peso and divtafcxu.
Gold: 10 florins. Silver 2|, 1 florin.
Goid: 2 dollars (*L0H).
Gold: 10 and 30 enures.
L000 Gaid: 1. 2|. 5. W, and 30 balboas.
Sllnr- Pmn a«wl
.03 Gold: §, 1, and 2 toenaas SL4»
. i- i. 1.2. and 5 kraru
A886i Gold: $ and 1 libra. Silver Sol and
,*52 P«*> W. 30. and 50 centavos.
1-CW Goid: 1 2 5.aad Wmdrets.
-515 Gold: 5. 7i, 10. and 15 rubles. Silver
SjJ*- 15.30.25.50.and lOOcopoetv
. * Gold; 25 peartas. Silver 5 pesetas
4-®<* G^f** Sovereign (pound Serin*
_ S^ver: Do0» anddjTEdoos.
*S Gold: 10 and 20 cnnrns.
• IB Gold: 5, W. 20, 50, and W0 francs.
Silver 5 francs.
.-J* G^ld: 23.50. M0. 250. and 500 plasters
LB4 Gold: Peso. Silver; Peso and d.w
Goid: 5.
Silver: S
1 100
to‘.2“',JS£S2” " "*> •* H*i-. tart tl. (UMUbU.
a*n * *** Straits Settlements is the ad'
fras been given a tentative value o( 5(jL5G7758i.
The coins o( silver-standard
current coin, vmhaed at 15
““ si" 1
it. and which
REPORT DIRECTOR OF MINT.
65
Chang E8 in the \alue op Foreign Coins during 1910.
Countries.
Central American States
China:
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
Do .
„ do .
Persia .
Monetary unit.
Silver peso . .
Silver tael, Amov .
Silver tael, Canton .
Silver tael, Chefoo .
Silver tael, Chinklang .
Silver tael, Fuchau .
Silver tael, halkwan (cus¬
toms).
Silver tael, Hankow .
Silver tael, Klachow _
Silver tael, Nankin .
Silver tael, Newell wang .
Silver tael, Nlngpo .
Silver tael, Peking .
Silver tael, Shanghai .
Silver tael, Swatow .
Sliver tael, Takau .
Silver tael, Tientsin .
Silver dollar, Hongkong. .
Silver dollar (British) .
Silver dollar (Mexican) -
Silver kran .
Value, 1910.
Jan. 1.
Apr. 1.
July i.
Oct. 1.
90.375
90.378
10.391
$0,391
.615
.620
.641
.641
.613
.619
.640
.639
.588
.593
.613
.613
.601
.006
.627
.626
.560
.574
.593
.593
.626
.631
.653
.652
.575
.580
.600
.599
.596
.601
.622
.621
.609
.614
.635
.634
.577
.582
.601
.001
.591
.596
.617
.616
.599
.605
.625
.025
.562
.567
.586
.585
.568
.573
.592
.592
.619
.624
.645
.645
.506
.601
.022
.621
.404
.408
.422
. 421
.404
.408
.422
.421
.407
.411
.425
.424
i
.070
.072
.072
MONETARY LEGISLATION.
Chap. 25.— An Act Prescribing certain provisions and conditions under which bonds and certiflcoUa of
indebtedness of the United State* may be issued, and for other purposes.
. Be it enacted by the Senate and House of Representatives of the United States of Avwrjca
mi Conoress assembled, That any bonds and certificates or indebtedness of the Lnitea
States hereafter issued shall be* payable, principal and interest, in L nited Matos goia
«>in of the present standard of value; and that such bonds may be issued m suen
denominations as may be prescribed bv the Secretary of the Treasury.
Sec. 2. That any certificates of indebtedness hereafter issued shall bo exempt from
all taxes or duties of the United States, as well as from taxation in any form b> or
“Oder State, municipal, or local authority; and that a sum not excoedinc one-tenth
«f one per centum of the amount of any certificates of indebtedness isiuod 1 is hereby
appropriated, out of any money in the Treasury not otherwise appropriated, to pay
the expenses of preparing, advertising, and issuing the same.
. Sec. 3. That all icta or parts of acts inconsistent with the provisions of this act are
hereby repealed.
Approved, February 4, 1910.
CHAP. 240. — An Act To establish in the Department of the Interior a Bureau of Mines.
Be it enacted by the Senate and House of Representatives qf the United
** Con^reM assembled, That there is hor^bv establ^hed m A JgJ bureau, who
a bureau, to be called the Bureau of Mines, and a and
bo thoroughly equipped for the duties of said office y advice and
experience andwho stall be appointed by the frosident by and vv ithtDc > acn
° j^htof the Senate, and who snail receive a salary of six , nfh emDlovees as may
fd there shall also bo in the said bureau such experts and other employees as y
ttem time to time be authorized by Congress. , j director, under
ti 2Ulnoa.and technologic investigations pertinent to information obtained
72063°— II-
66
REPOET DIRECTOR OF MINT.
Sec. 3. That the Secretary of the Interior shall provide the said bureau with fur¬
nished offices in the city of Washington, with eucn books, records, stationer}’, and
appliances, and such assistants, clerks, stenographers, typewriters, and other employees
as may be necessary for the proper discharge of the duties imposed by this act upon
such bureau, fixing the compensation of 6uch clerks and employees within appropri¬
ations made for that purpose.
Sec. 4. That the Secretary of the Interior is hereby authorized to transfer to the
Bureau of Mines from the United States Geological Survey the supervision of the
investigations of structural materials and the analyzing and testing of coals, lignites,
and other mineral fuel substances and the investigation as to the causes of mine explo¬
sions; and the appropriations made for 6uch investigations may be expended under
the pipervision of the Director of the Bureau of Mines in manner as if the same were
so directed in the appropriation acts; and such investigations shall hereafter be within
the province of the Bureau of Mines, and shall cease and determine under the organiza¬
tion of the United States Geological Survey; and such experts, employees, property,
and equipment as arc now employed or used bv the Geological Survey in connection
with the subjects herewith transferred to the Bureau of Mines are directed to be trans¬
ferred to said bureau.
Sec. 5. That nothin" in this act shall be construed as in* any way granting to anv
officer or employee of the Bureau of Mines any right or authority in connection with
the inspection or supervision of mines or metallurgical plants in any State
j 8h*U uke effect and be in forc* on and after the firet day of July,
nineteen hundred and ten.
Approved, May 16, 1910.
MONETARY STATISTICS OF FOREIGN COUNTRIES.
irJ!rtat‘f1CS °^the production and coinage of the precious metals,
m,.n! l„ianie^0rtS of gold and silver, amount of bank and Govern-
cove™ «nd uncovered of the different foreign coun-
d?r?Xbf™ naT'ally ,D the rfP°rts of this burean are obtained
» the Governments of such countries by the representa¬
tives of the United States accredited to them. P
tion cover*ng the points on which informa-
U) the Unftpd 16 G"vern,ment3 of foreign countries is sent vearlv
ment of S .n^lfmbafad0^ and ministers through the Depart-
directly to the Th r * 16 tbe form of reports, are forwarded
fXw£ B au °f the Mmt- The interrogatories sent are as
of P>ec« th™ralcndafycarniM»'TneC01nfl®e by dc"on|inations •lni1 number
recoinage. ^ear (new coinage and domestic and foreign
yT(lHT" rfiLS other Goverumen,a during the
elate character^ ud ameun^of^'m'^1 af foreign minta for your Government? If eo,
durine ^eS^ar^mgr^1 °f fiDC 8°‘d “d dlver “•* in industrial arts
de^anTmSU',it,trPm^te0,d^heS^ go»?Coin and what a“Ount war.
eilver prtiiTc'^Nroro'tfe eoliinTd ^ =. fine and 'he value of the gold and
the product of the colon^fleroumrv n^ ^Un.nkg thc Bondar year 1909? Give
6. What. Vproximately, ^ thrB^t^fTu8thJ!m,Beparalel-v-
country on December 31, 1909? Give ntnrk8u!dr.av.<i-e,.ver c0!n and bullion in the
circulation, separately. * 111 Pubhc treasuries and banks and in
the ve^“l909“alnd whTamount’wt^Mrcorered^1111 "f °uts,anding at the end of
tender silver coin held for their redemption? ^ by 50 d °°in and bun,on and lega1"
what is ?he s^rt miT^rT^n^’ ?°mpared WIth tke actu*1 currency of the country? If so,
banking?6 the coint«e- currency, or
REPORT DIRECTOR OF MINT.
67
10. Is there a report published on the operations of the mint? If so, please for¬
ward a copy; also, a report of the Department of Mines.
11 (a). What was the import and export of gold during the calendar year 1909; the
value of coin, bullion, and ore to be given separately and by countries?
11 (6). What was the import and export of silver during the calendar vear 1909;
the value of coin, bullion, and ore to be given separately and by countries?
12. Please examine the appended description of the coins of your country, bring¬
ing it down to date with corrections?
The foregoing report, covering the operations of the mints and assay
offices of the United States for the fiscal year ended June 30, 1910, is
respectfully submitted.
Geo. E. Roberts,
Director of the Mint.
Hon. Franklin MacVeagh,
Secretary of the Treasury.
APPENDIX.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
f
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
REPORT DIRECTOR OF MINT.
No. 1. — Domestic Production, Deposits, and Purchases of Gold, by
Locality and description of
deposits.
Philadelphia.
San Francisco.
New
Orleans.
Denver.
New York.
Alabama .
Stand, oz.
Stand, oz.
Stand, oz.
1.279
Stand, oz.
Stand, oz.
30.299
r 1,272.597
> 18,031.519
1 8,167.975
1 36.632
Alaska .
521.466
341,379.604
28,536.365
258,177.572
44.501
24.385
_ _ _ .
639 80;
11,733. 13t
274.672
265,458.984
Arizona .
150.216
29.213
438.319
California .
282. 139
Colorado .
60.106
Georgia .
408.845
3.064
Idaho .
252.040
55.234
995.874
Maryland .
Michigan .
.171
14.019
Montana .
17.527
190. 113
831.890
16 060 JT.
Nevada .
28.112
09,462.763
123.598
111.550
New Mexico .
1U, WU.
4,946.363
6, 200.’ 909
62.831
North Carolina .
519.506
Oregon .
39.506
7,085.823
South Carolina .
7.450
South Dakota . .
55. 489
W Ail*; 007
Tennessee .
•aW , KW. WO
Texas .
3.540
570.632
Utah .
23.487
Virginia .
37. 194
Washington .
32.697
82.289
188.018
136.231
Wyoming .
Philippine Islands .
138.129
9.594
55.073
Porto Rico .
Other .
]2Q. i30
~ Total domestic .
2,476.934
705,302.542
604. 746
302, 795.065
465 149 44K
269,495.540
lOfi Cl 1 CQ7
Domestic refinery bars .
Domestic bullion refined. . . .
i, 096,98L 601
.
18,’ 412! 033
ItfO, Oil. CWi
1,684,080.997
Total domestic bullion
Domestic coin, mutilated.
Domestic coin, transferred. .
Foreign bullion unrefined
Foreign bullion refined . . . . !
2.476.934
9.213. 914
118.999.010
1,801,284. 143
932.099
69.480
604. 746
2,130.150
786,356.546
23.800
2, 150,068. 134
46,156.298
3,093.229
41,864.838
40,288. 74 9
218.648
187,162.593
501,865.171
Foreign coin . .
Jewelers’ bars, old plate, etc
Surplus bullion .
281.021
67,405. 447
1,392.289
15.038.909
8,664. 765
2.660
65.401
154.544
3,757.836
192.521
22.489
3,755. 753
306.439
189.129
48.325
6,291.978
211,505.325
Slag from Dead wood .
Recovered, embezzlement
89.983
210.828
295.130
Recovery from refinery pipes
Gain^onmutilated coin pur-
1.200
24.385
58.591
Total deposits. .
203. 100. 855
1,867.922.895
47,151.035
790.981.529
3, 103,364.629
Rodeposits:
Fine bars .
12. 456> 946
47.457
545. 102
Mint bars .
11.875.930
Un ported bars. .
Total redeposits...
1,067,603.825
411,676.474 ....
404,947.336
9.073
1,091,936.701
411,723.931
404,947.336
554.175
Total .
1.295,106.556
2,279,646.826
47,151.035
1, 195.92s7s65
3,103,918.804
REPORT DIRECTOR OF MINT.
71
Weight, at Mints and Assay Offices during the Fiscal Year 1910.
Carson.
Boise.
Helena. C
harlotto £
1
JL Louis.
Dead-
wood.
ScattJe. («•*“»
' Total.
1
Stand, oz. -J
'land. oz.
Stand, oz.
Stand, oz.
5.258
Stand oz.
Stand, oz.
Stand oz. Stand, oz.
Stand, oz.
36.836
73.042 .
2ia 002
. 1
306.441
573,273-975
9. 874
22 383
43.190
20 321
0 651
105.630
64.435
917,721.640 2
58,496.977, 3
274,288. 135 4
265,727.063 5
973.995 6
.
19. 215
562 086
1,606.353
629. 039
1,139.969
1,483.730
36,252 239
.254
.171
104,244.063
164,467.966
11,338.382
1,145.632
18,816.662
100 299
271,814. 048
24.983
3.540
31,469.428
48.399
1,721. 814
172 617
147.723
55.073
167- 370
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
.254
125.431
47. 147
63, 122.679
67. 901
7. 088
2605
14,576.856
.424
563.295
10,885.585
746.386
59.362
92 849
36,290 096
2 470
24.983
3tt 023
11.205
116.550
474. 818
827. 442
36.386
45-225
2 015
70,015. 165
42,892 534
104,074.921
1,305.155
3,291.024
453. 102
4,445.838
16,274. 911
36,326.482
576.330 42S
47,162 695
2, 159,235. 309
669,397.907
2,813,749.542
70,015. 165
1.020
42,892 534
104,074.921
4,596.179
20, 173. 851
16,129.693
36,326.482
576,330 428
12 707
47,162 695
5,642,382 758
74,600 281
119,068. 490
338,093.360
509.106.207
21.780 870
299, 123. 902
1,893.909
1,048-123
216. 82S
48.325
24.3S5
58.504
1.200
255.166
7,241. 036
4.023
1,059.280
ia 39J
111.29;
154.633
2,352 540
12 640
343.388
y 169. 03;
r 22 585
18. 01i
10 252
70,165.22
2 42,915. 12
3104,214.62
9 4,761.06-
138.913. 771
L 36, 359. 981
649,990 107
47,517.294
7,007,447.142
43
.
13,049.505
11,875.930
1,884,256.887
44
45
40
20 17
0 .
20 17
9 .
1,909,182 322
47
48
70, 185. 2
Z2 42,915. 123 104,234. 8C
>S 4,761.06
4 38,912 77
136,359.981
? 649,990 107 47,517. 29<
1 8,916,629.464
t fe ft 6*88 58 8££5 K S3 *8 838
72 BEPOBT DIBECTOR OF MINT.
No. 2.— Domestic Production, Deposits, and Purchases op Gold bt
Locality and descrip¬
tion of deposits.
Philadel¬
phia.
San Fran¬
cisco.
New
Orleans.
Denver.
New York.
Alabama.
Alaska..
Arizona..
California.
Colorado. .
Georgia. .
Idaho .
Maryland - .
Michigan.
Montana
Nevada.. .
New Mexico .
North Carolina .
Oregon .
South Carolina. . .
South Dakota .
Tennessee _ .
Texas
Utah. . .
Virginia. . IS®
Washington .
Wyoming .
Philippine Islands
Porto Rico .
Other . .
Total domestic. .
Domestic, refinery bars
Domestic bullion,
fined.
Total domestic..
Domestic coin, muti¬
lated.
Domestic coin, trans¬
ferred.
Foreign bullion, unre¬
fined.
Foreign bullion, refined
Foreign coin .
Jewelers’ bars, oldpiate,
Surplus bullion.
Deposit, melting room
grains.
Grain, bar New York..
blag from Dead wood.
Recovered, embezzle¬
ment.
R^jovcry from refinery
Gain on mutilated coin
purchased.
Total domestic.. .
Redeposlts:
Fine bare .
Mint bars...
Unparted bare.'..;.
Total redeposlts. .
Total .
*9, 701. 09 *6, 351,248. 45
2,794.72 530,909. 12
5,249 10, 4, 803, 303, G6
1.11&25' 827.93
7, 600. 42 57.00
4,689.12 1,027.61
*11,903.39,
453.67
543.50 218i 29d 90,
8,154.77 5,liai9
4,938,771.80
*563. 70! . I
23,676.23. *1,358.93
335,470.12' . !
151,962.33; 126,873.'.‘l
REPORT DIRECTOR OF MINT. 73
Value at Mints and Assay Offices during the Fiscal Year 1910.
Boise.
Helena.
Charlotte.
St. Louis.
Dead wood.
Seattle.
Salt Lake
City.
*97.82
*3,907.01
*5,7oi. 23
*io, 665.561. Z
T *378.07
183. 7(
) 123. 74
357. 49
803! sl
l lf 905. 21
10,457.41
\ 1,198.79
*589, <199.58
11,703.66
21 7'.
4. 73
•1| AAO. i -
y 27 28
1,263.26
2,333.60
4,048. 2i
877. IS
48. 4b
131.87
*( 1, IV/. OL
7.89
202.522.51
" IQ WO f. OE
1,727.42
*<575,164.57
10, OOU. A)
45.95
208.47
UiO, OU). i o
2, i(»5. 50
8, 833. 8i
15,394.27
676.95
841.40
37.49
797,997.72
1,936,277.27
24,281.96
61,228.35
8,429. 81
82,713. 26
284, 184. 39
675,841.52
10,722,425. 49
877, 445. 49
797,997.72
1,936,277.27
85,510.31
375,327.46
300,087.31
675,841.52
10,722,425.49
236.41
877.445.49 ]
4,747.27
1,213, 150.93
134, 716. 95
74.85
19 707.53
60.93
193.39
2,070.59
2,877.20
43,767.88
254.415
’
420.25
335.22
190.74
46.90
369.62
2,527.10
147.65
798.417.97
1,938.870.47
88.578.25
723,976.88
676. 465. GO
12.092.839.26
584.042.83 li
375. 42
375. 42
798,417.97
1,939,251.89
88,578.25
723,976.88
676,465.00
12,002,839.261
584,042.83 ll
Total
40, 17I.815.4S
12.453.914.55
52,348.828.70
M, 974. 558. 73
1. 387.912. 20
2,215.227.70 31
6,290. 10J
9,471,
405,
5,565,
743.
225.55
*085.32
17,073,889.94
1,088.315.86
5,103,035. 10
4,943,759. 32
18, 120. 83
074,460.26
4. 73
3.18 9
1,939,424.11
3,059,869.11
210,946.64
21,314.09
350,077.44
1,866,02
5,057,005.54
464.80
65.86
585,477.72
900.45
32,030.
3, 211.48
2.748.34
1,024.
3. 113.
19,501.13
4,034. 01
899.06
453.68
1,088.45
22.33
130,371,107.-
242,781.48
220. 947. 53
165,890,778.54
74
REPORT DIRECTOR OF MINT.
No. 3.-Domestic Production, Deposits, and Purchases op Silveb,
Locality and description c
deposits.
1 Philadelphi
San Fran¬
cisco.
New Or¬
leans.
Denver.
New York.
1 Alabama..
Stand, or.
Stand, 02.
Stand, oz.
Stand, oz.
Stand, or.
3 Arizona .
4 California .
5 Colorado _
6 Georgia ....
72. (X
51. r
15. 5t
10,525.1]
53, 175. 1<
3.7<
.2:
las;
) 3. 6i
1 10.32
ioo.&
> 331.1)
S 3,552.2;
1 37.1
- 300, 408. S!
1112
r 234.77
7 7,576.97
• 951. 16
> 3.23
7 Idaho...
• 78. S
1 .
8 Maryland .
9 Michigan . .
1,069. 4S
”i6,*75i.'24
452.95
1 Nevada .
27.62
34,650.18
39.00
135.30
1.59
48.55 1
260,522.09
9.04 !
2 New Mexico.
3 North Carolina
4 Oregon . .
19. S3
149. 82
3.44
.61
25i.se
5,988.49
13,787.37
5 South Carolina . .
L283.73
8 South Dakota .
7 Tennessee . .
.
9 Virginia.. .
25.20
i-oi
.
.13
2,729.63
.
W ashimrton
- yoming
164.81
10.0b
1 PortoPK “'U
5 Other . .
ii'io
2.37
56.59
} Total domestic. ..
Domestic refinery bars
18,296.07
141,647.00
366.49
3T.607.S0
22,403.94
364.291.82
67,822.66
4S6.SS7.15
| Total domestic bullion
1 Domestic coin mutilated
: ‘ranster"d .
Forfifu hutllAn 1 1 nmA __ _ j
47.610.00
1.937 56
515,851.96
150.21
95,391.68
*iii«
2,268.88
75,802.67
178.45
350.82
6.65
141,647.00
167.56
30.089.50
366.49 350,011.74
15306 29.71
61,412.90 ...
919,001.63
•n yuuiuu unrenned
PhS^- bullk)n ^flned ....
Philippine coins
Foreign coin . .
39,30344
L 543, 938. 45
2. 88
17,997.16
1,377.87
876,258.32
247,6«X 21
Philippine assay coins
Jewelers’ bars, old plate -tc
Surplus bullion. * ■
room gnthi-:
Gmin bar New York ,M. .
Slag from Dead wood. .
Recovered, embezzlement
mutu“w “in pur-'
Total deposits
8.383.47
6.193.09 1
2,547.05
36.03
4. 487. 32
1,515.89
1A93
3, 104. 17
1,051.47 .
130.26
. 5773' ;
1.66 .
404.886.47
667.28
Redeposits;
roe bar* .
Mint bars.. „
Lnparted bars.'..'..'.";;'*'
Total redeposits
730,681.00
L772.794.27
94.332.21
355,754.11 2
,454.767.00
373, 586. 34
LC0C.3S2.99
’7S.‘ 654. 47' .
-T:::;;::;:; ;;
867661.90
103,806.19
. 7.94
Total .
1.97 A 969 33
2,715,651.23 |1
78,654.47 ..
lis51,448.74|=
9*7332721' =
80.061.90
*35.816.01 2,
103,811 13
558,581.13 |
REPORT DIRECTOR OF MINT.
75
by Weight, at Mints and Assay Offices during the Fiscal Year 1910.
Canon.
Boise.
Helena.
Charlotte.
St. Louis.
Dead-
wood.
Seattle.
Salt Lake
City.
TotaL
Stand oz.
Stand, oz.
Stand oz.
Stand, oz.
0.58
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
14.70
117,271.32
21,741.15
56,277.00
300,510.62
167.27
17,529.60
.02
36.800.22
63.814.71
89,681.17
274,349.90
290.30
5,769.61
11. 77
124,941.99
1.31
.13
3,178.77
4.22
726.98
1504
38.80
56.59
27.61
550
23.45
62.08
74,735 78
2.87
3.42
27.92
2.56
1.58
35 49
48.48
922.53
2. 82
88.19
15,355.83
149.50
294.43
206.86
.02
8-39
38.38
.74
63,556.13
.80
36.26
46.63
2531
32,410.53
16,237.28
.01
131.44
4,249.04
178-94
54.46
11. 16
50,199.81
.49
i. 3i
.75
447.38
. ;;
1.32
.
24.88
97.83
351.13
5.96
13-83
.19
33,338.56
19,878.01
63,829. 71
247.85
264.27
101.30
44. 71
50,205.77
75,667.92
17,034.10
1,112,312.40
90.535 58
616, 201. 68
33,338.50
19,678.01
63,829. 71
512. 12
146.01
50,205 77
75,667.92
17.034.10
1,719,049.66
2,287.88
607,354-47
159.21
1,043, 718. 15
247,660.21
1.543,938. 45
14.705 50
2,368. SS
505.265 52
5,114.41
1,344.70
359.82
57.23
1.66
6.65
.
12.66
60.43
13L31
26. 64
12.66
. .
.
.
.
.
.
.
33,409.87
19,704.65
63,915.46
561.53
1,451.31
50,246.74
89.329.07
17,285 28
5,603,293.40
.
.
.
.
103.80519
373.56534
1,761,112. 75
6. 45
2,238,505 28
33,409.87
19.704.65
63,920.91
561.53
1,451.31
50,246.74 89,329.07
17,285.28
7,931,79568
£$£?t£t3£3(j2a»75o»cn*SS5!»e«oaP'M«o*<fc««Mi
S * ft WHW 8J?aijil85S?lSC;rCGC5*(
76 REPOBT DIRECTOB OP MINT.
No. 4.— Domestic Production, Deposits, and Purchases of Silver.
Locality and description of
deposits.
Ph3adetpfcia
San Fran-
New Or¬
leans.
Denver.
New York. !
Alabama . .
fit 43
Alaska . .
Arizona .
California . .
Colorado .
E56.C
sirs
«l24
lv 11
91.76
1.232 65
S46.66A60
12,247.40
«,876.S6
A SB
.as
12.28
SA28
12.04
U7.ll
33*5-36
4. 132 54
43.54
340 506.67
ms
ASIA 84
1.10A80
ATI
Georgia . . . .
Idaho .
S27 07
. 1
Maryland .
Mir£igan . .
Montana .
1 9.«L> *5
1. €2
23. Oh
23. 434. 45
1-9*
56 40 !
303, 152. 98
18.52
31.44
40.330.68
46. 15
157.44
6.966.42
10.OC.4e
Nevada .
New Mexico . .
283.03
North Carolina .
17 AM
A 00
.71
Oregon .
1,483.78
'
South Carolina .
Sooth Dakota . .
.
.
10 56
K.M.29
rub....,:. ::
1.18
.15
A 176.30
\ Irginia. . .
3.R
28.32
Washington .
W Turning. .
73.40
101.78
11.73
RS .
42.30
275
6A85
IASI
Total doncjttc . 21 20 97
Domestic rrf.nerr bars..
16A 825. 60
426.46
381.216. 14 423, MB. 20
36. 07005 78.930 22
uodsuc txuuon refined. . . .
34, 111 A'
_ Total domestic bullion..
Domestic coin mutilated
Domestic coin transferred
Trade dollars..
Foreign bullion onrefiard
Foreign bullion refined
Philippine coins .
Foreign coin
5&.401 42
2 ,234 Q
0OO.MA12
ISAM
111,001 23
133.12
2.640.17
Sh.20S.74
®7.«5
41*.®
16AS2A®
10AM
33,013 34 ;
426 46
ITS. 08
71.462 28
407.286 30
3A5B
1.060, ISA 71
4AS30U
1.786,582 82
A15
ao.942.14
i, 003. 33
1,04*. TO- 41
288. ISA 43
Philippine assay coins . . . .
Jewelers* bars, old plate, etc
Surplus bullion |
DrpoMt melting room grams
Orate bar. New York. .
9, 75A31
7.266.3
17.422 28
AOfiB.M
4182
A 221 61
1,763. 94
IS. 52
3. 012. 13
1.223.53
130. M
471.14862
776.47
Recovered, embezzlement
1.93
. .
.
Total deposits .
RedmosiU.
Fine bars .
860.720.76
2-062.8S7.87
100.768.35
413,968. C 2
*.850,456 15
120.79265
C r. parted bars
1.&6A50L11
Total redrpcwits .
Total
91,525 20
93,16293 9-24
2, 299. 3®. 7(j
3-161000.52 •
91. 525.30
93.16293 120s 801
2.154.413.07 1 08. 768. 35
507.131-36 2977. 238.0*
®ARS Manufactured of Gold and Silver.
Description.
Philadel¬
phia.
San Fran¬
cisco.
New
Orleans.
Denver.
New York.
Carson.
Gold
Fine ban..
Send. cc.
406,761.327
Stead, or.
488,579.636
Stead, or.
1,001.804
Stead oe
Stead or.
£2,011,113.772
51.904.776
SS6.2M 640
Stead ol-
'76,'iSA«2i
Standard ban .
Total mid
Silver.
P tv® Vva m
_ 466,761.327
1.810.513.87
488,682. MQ
1.001.8Q4
2.049 223.1S8.
- — 1
70.1ss.2r
* D1TB .
Mint ban . .
cnpartedbara;:;;;;;;;;
20.955.18
1.433.79
674.317.04
373,586-34
1,481.161.21
2.529,065. 49
1. . J
"33,409 57
33,409-57
Total silver .
1M9.5U.87
26.979.22
1.433.7* j 2.027.11 j
77
BEPOBT DIBECTOR OF MINT.
by Values, at Mints and Assay Offices during the Fiscal Year 1910.
Carson.
Boise.
Helena.
Charlotte.
8t.
Louis.
Dcadwood.
Seattle.
Salt Lak«
City.
S Total.
$0.67
$17.10
136,461.17
25, 298. 78
64,323.01
349,66510
194.64
20,398.06
.02
42,926.80
74,257.11
104,356.26
319,243. 51
337.81
6,713.72
13.70
145,387.04
1.52
.15
3,098.94
4.92
845.94
18.67
45.14
65.85
32.12
10. 40
$27.29
$72.18
*86,965.27
3.34
3.98
32.49
$2.98
1.84
41.29
56. 41
240. 7i
1,073.49
102.62
3.28
$17,868.00
173.96
342.61
.02
44.66
.86
.93
42.19
54.26
30.61
37,714.07
18.894.29
.01
152.95
4,944.34
208.22
63.37
12.99
$58,414.32
.57
1.52
1.54
520.59
28.95
113.84
406.59
6.94
16.09
.22
38,793.96
22,898.04
74,274.57
288.40
307.51
117.87
52.03
58,421.26
88,049.94
19,821.49
1,294,327.10
105,350.51
600,671.04
38,793.90
22,898.04
74,274.57
595. 91
169.90
58,421.20
88.049.94
19,821.49
2,000,348.65
2,662.27
706,739. 74
185.26
1,214,508.37
28S, 186. 43
1,796,582.92
17,113.02
2.640.17
587,945.34
5,951.31
1,564.72
418.69
66.60
1.93
7.74
57.55
15,301.21
.86
14.73
70.32
55. 40
1,456.42
20.60
455.70
283.46
152.80
30.99
14.73
204
4.92
27.07
139.70
7.97
38,940. 76
22. 929.03
74,374.35
653.41
1,688.79
58,468.93
103,946.55
». 113.78
6.624,923.16
120.792.65
434.718.65
2,049,294.82
6.34
6.34
2,604,806.12
38,946.76
22,929.03
74,380.69
653.41
1,688.79
58,468.93
103,946.55 2
10,113.78
9,229,729.28
1
2
3
4
5
6
7
49
50
by Weight, during the Fiscal Year 1910.
Boise.
Helena.
Charlotte.
St. Louis.
Deadwood.
Seattle.
Salt Lake
City.
Total.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
7,241.036
Stand, oz.
Stand, oz.
2,975,471.703
51,904.776
1,873,909.802
36,359.989
642,734.855
47,517.296
42,915.123
104.214.629
4,761.064
38,913.771
36,359.989
649,975.891
47.517.296
4,901,286.281
2,525,147.89
373,586.34
1,757,048.30
50,246. 74
89,228.71
17,285.08
19,704.65
63,915.46
561.53
1,451.31
50,246.74
89,228.71
17,285.08
4,655,782.53
78
REPORT DIRECTOR OF MINT.
No. 6.— Bars Manufactured of Gold and Silver,
Description.
Philadel¬
phia.
San Fran¬
cisco.
New
Orleans.
Denver.
New York.
Carson.
Gold:
Fine bars .
Standard bars .
$8,G83,931.70
19.089,853.50
118,638.21
$14,402.57
$37,416,070.17
965.670.25
16,487,528.18
Unparted bars .
1,920.24
$i,305,771.6i
Total gold .
Silver:
Fine bars .
Mint bars .
8,083.931.70
9.091,773.74
18,638.21
14.402.57
54,869.268.60
1,305.771.61
2,117,252.50
31,366.03
1,668.41
3,406.09
784,660.88
434,718.65
1,723,533.04
.
Unparted bars .
27.97
38,946.76
Total silver .
2,117,252.50
31.394 00
1.668.41
3,406.09
2,942.912.57
38,946.76
Total value .
10,801,184.20
9,123,167.74
20.300.62
17,808.66
57,812,181.17
1,344,718.37
No. 7. — Coinage of the Mints of the
Description.
Philadelphia.
San Francisco.
Pieces.
Value.
Pieces.
Value.
Gold:
Double eagles .
i&v;;:::::
Quarter eagles .
Total gold .
Sliver:
Half dollars .
Quarter dollars .
Dimes .
Total silver .
Minor:
Five-cent nickels
One-cent bronze
143
172
26,182
122,274
$2,860.00
1,720.00
130,910.00
305.685.00
423,925
1,001,100
1,067.400
$8,478,500.00
10,011,000.00
5,337,000.00
148.771
441.175.00
2,492.425
23,826.500.00
1.808.785
5.232.785
6.990.785
904,392.50
1,308,196.25
699,078.50
2,306,000
768,000
1,153,000.00
192.000.00
14.032,355
2.911.667.25
3.074,000
1,345.000.00
17,055,638
144,241,529
852,781.90
1,442,415.29
Total minor .
Total coinage...
4,368,000
43,680.00
161,297,167
2,295.197. 19
4,368,000
43,680.00
175.478.293
5,648,039. 44
9,934,425 j
25,215,180.00
and 1,500,000 ^nze^tecca.1**0 m,Dt Bt 8an Francfaco made for the Philippine Government 6,074,758 silver
79
REPOET DIRECTOR OF MINT.
by Value, during the Fiscal Year 1910.
Boise.
Helena.
Charlotte.
8t. Louis.
Dead wood.
Seattle.
Salt Lake
City.
Total.
.
$798,420. 85
$1,938,876. 47
$88,577,94
$723.977.'i2
' $676,' 464.' 6i
$134,716.95
"ii 957,856.72
$884,042.83
$55,357,613.10
965,670.25
34,863,436.87
798,420.85
1,938,876.47
88,577.94
723.977.12
676,464.91
12.002,573.67
884,042.83
91,186,720.22
.
.
.
2,938,353 91
653.41
1,688. 79
58,468.92
103.829.77
20,113.54
434,’ 718.' 65
2,044.565.58
22.929.03
74,374.35
653.41
1,688. 79
58,468.92
103.829.77
20.113.54
5,417.638. 14
821,349.88
2,013,250.82
89,231.35
725.665. 91
734, 933.83^12, 196, 403. 44j
904,156.37
96,604.358.36
United States during the Fiscal Year 1910.
New 0
means.
Denver.
Total.
Pieces.
Value.
Pleoes.
Value.
Pieces.
Value.
750
2,232,040
195, 160
$15,000.00
• 22,320,400.00
975.800.00
424,818
3,233,312
1,288,742
122,274
$8,496,360.00
32,333,120.00
6.443,710.00
305.685.00
2,427.950
23,311,200.00
5,069 146
47,578.875.00
4.114.785
6.162.785
6.994.785
2,057,392.50
1,540,690.25
699. 478. 50
162,000
4,000
40,500.00
400.00
166,000
40,900.00
17.272.355
4.297,567.25
17,055.638
148,609,529
852,781.00
1,486.096.20
2,593,950
23.352, 100.00
165,665, 167
188,006,668
2.338.877.10
54,215,319. 44
80
REPOET DIRECTOR OF MINT.
No. 8.— Mutilated and Uncurrent Domestic Gold and Silver Coins Trans
during the
Denominations.
I
l
ilphla.
San Francisco.
New Orleans.
Received
from
Treasury.
Purchased.
Received
from
Treasury.
Purchased.
Received
from
Treasury.
Purchased.
QOLD.
Double eagles .
Eagles .
Half eagles .
Three-dollar pieces .
Quarter eagles .
Dollars .
Total gold, face value.
SILVER.
Trade dollars .
Standard dollars
$420,320.00
088,540. 00
1,111,015.00
18.00
10,015.00
39.00
$40,480.00
39,290.00
89,525.00
57.00
3,562.50
138.00
$1,140.00
70.00
85.00
$10,500.00
2. 560. 00
4,625.00
3.00
87.50
2.00
$7, 340. 00
10.150.00
22,265.00
337.50
2.00
2,229.947.00
173,052.50
1,295.00
17.777.50
40.094.50
183.00
841.00
586.00
640.75
373.40
8.85
.72
Half dollars .
Quarter dollars .
Twenty-cent pieces. . . .
Dimes .
229,876.00
208,094.00
109.00
249,807.30
688.10
62.70
’i9.066.06'
12,000.00
1.20
9,000.00
128.40
. i54.00'
47.00
2.40
31.40
2.15
$34,956.66
19,010.00
107.00
39.50
31.25
Half dimes .
Thrce-cent pieces .
Total silver, face value.
SUMMARY.
Gold coins.. . .
Silver coins .
28,530.00
10.00
ii.80
.15
688,637. 10
2.G33. 72
40, 129. 60
236.95
82.500.00
189.70
Stand, oz.
118,999.010
515.851.98
Stand, oz;
9,213.914
2,090.77
Stand, oz.
69.480
30,089.59
Stand, oz.
932.099
167.56
Stand, oz.
61,412.90
Stand. 02.
2,130. 150
153.05
Gold, coining value..
Silver, subsidiary value. ..
. 641,806.51
*171.421.65
2, GQ8. 73
$1,292.65
37,436.50
$17,352.54 .
208.47
$76,407.96
$39,630.67
190.42
. .
Loss, silver .
Gain, silver .
Loss, net, silver . '
16,011.95
40,830.59
1,030.85
21.99
2.35
2,603. 10
.
424 96 '
28. 48
6,092.04 .
463. 83
. .72'
REPORT DIRECTOR OF MINT. 81
FERRED FROM THE TREASURY AND PURCHASED OVER THE COUNTER FOR RECOINAGE
Fiscal Year 1910.
Denver.
New York.
Carson.
St. Louis.
Seattle.
Total.
Purchased.
Purchased.
Pur¬
chased.
Puchased.
I'urchased.
Received
from
Treasury.
Purchased.
Total.
*160.00
80.00
225.00
*127,080.00
257,440.00
472,885.00
24.00
8,740.00
51.00
*20.00
*67,800.00
79.010.00
155,705.00
*00.00
70.00
100.00
*421.460.00
688,610.00
1,111,100.00
IS. 00
10,015.00
39.00
*253,440.00
388,600.00
745.340.00
84.00
13,130.00
195.00
*674,900.00
1,077.210.00
1,850.440 00
102.00
23.145.00
234.00
12.50
370.00
2.00
20.00
477.50
866,230.00
20.00
302.887.00
250.00
2.231,242 00
1,400,789.00
3,632,031-00
1S3.00
961.00
799.50
720.50
2L40
416.60
11.15
.72
183.00
961 CO
284.625.50
239.824.50
112.60
257,753.90
837 65
63.42
13.00
20.00
1.50
283,826.00
239, 104.00
110.20
287,337.30
826 50
62.70
-
34.50
811.2G6.70
3.094.87
814.361.57
Stand, ox.
23.800
29.71
Stand, ox.
46,156.298
5/and. oz.
1.020
Stand, ox.
16,129.093
Stand, os.
12.707
Stand, ox.
119,068.490
a>7,354. 47
Stand, ox.
74.600.2Sl
2,447.09
Stand, ox.
193.668. 771
609,801.56
*442.82
36.96
*858,721.82
*18.88
*300.087.31
*236.41
*2,215,227.70
755,650.97
*1.387,912.20
3,044. 5S
*3,603,139.90
75S.695.55
34.68
7,508, IS
.02
2,799.08
13.59
16,014.30
55,615.73
12,876.80
50.47
3.14
47.29
28,801.10
55,666.20
3.14
55,663.02
2.46
55,615.73
72663°— 11-
82
report director of mint.
j^o. 9. _ Assets and Liabilities op the United
assets.
Institutions-
Gold bullion.
Silver bullion.
Quantity.
Value.
Quantity.
Value (oost).
Coinage mints:
Philadelphia .
San Francisco .
Philippine coins for recolnage. .
New Orleans .
Denver .
Assay offices:
Sew York. . . .
Canon . .
Helena .
Boise .
St. Louis .
Stand, oz.
1.701. 079.566
2.219,134.997
193.634.651
300,422.769
1,195,293.123
4.634. 54S
3.041.148
2.392.503
2,232,972
*31.647.991.93
41.2S6.232.4S
3.602.505.06
3. 896. 237. 56
22.23S.011.60
86.220.19
56.579 45
44.511.70
41.543.63
Stand, oz.
3.688,276.27
874,850.56
.30
173.546.26
656.766.34
S12.617.77
3,067.74
2.771.21
1,652 12
119.51
*2.585. 17166
446.621.24
.27
137.577! 72
302.916.25
160.335. 43
1,47184
1,330.05
793.02
57.22
Dead wood... .
Seattle .
Salt Lake City .
702.034
74.060.062
3.149.272
13,061. S2
1.378.029 40
58. 591 . 09
1.076.63
10,764.98
169.96
5,167®
81.25
Total .
5.608.786 665
104. 349, 51 A 91
5.725.679.65
3,642.048.25
LIABILITIES.
Institutions.
Bullion
fond.
Undeposited
wmlnp
Seigniorage on
silver.
Unpaid de¬
posits.
Coinage mints:
Philadelphia. .
*441.257.798.87
118.344.715.58
36.830.634.32
39S.494.1S4.S3
*22.46192
*144.42
*14.577.56
San Francisco .
77.579.75
721.75
New Orleans .
7X79
Denver
Assav offices:
New York .
27.519. G2S. 21
301.408.56
61,239.80
569.70
Canon..
Helena ...
142* 1S9. 70
172.21
Boise .
81,834.07
111 17
St. Louis .
61.044.88
U U
Charlotte .
21,451.68
129,353.28
Deadwood .
65.54
Seattle .
2,SSS,561. 42
275.347.58
3,343.14
15191
30.67
Salt Lake City .
Total .
14X3421,1** 98
87,623.43
77,724.17
15.963.47
BEPORT DIRECTOR OF MINT.
83
States Mints and Assay Ofpices June 30, 1910.
ASSETS.
Gold coin.
Silver coin.
Credit with
Assistant
Treasurer,
depository
banks, and
in currency.
Minor coin.
Minor
coinage
metal.
Deficiencies.
$300,285,862.80
12,031,020.00
$100,762,418.56
61,621,800.12
$2; 622, 907.' 38
$1,103,088.05
30.155.37
$37,748.18
3.692.30
2,204.12
$13,543.82
415,259.68
1,G34,475.40
385,148,298. 95
31,181.256.51
4,162,625.03
274,893. 42
1,984,107.04
5,183,087.68
107,777.24
84,422.41
36,673.82
19, 478. 47
21,451 68
115,832.79
1,348,728.74
216,832.15
29,750.00
3,640.54
75,549. 75
130,000.00
699,259,407.15
203,731,740.76
12,010,192.82
1,133,243. 42
43,644.60
504.353.25 1
Total.
118,457,888.
2,204.
36. 830, 70S. 11
395,404,184.83
27,581.437. 71
304.408.56
142,331.91
81,978.54
01,079.32
21.451.68
129,418.82
2,861.925.23
275,504.49
,024,680,146.16
LIABILITIES.
•
Minor coinage
profits.
Minor coin metal
fund.
Unpaid cent
deposits and
subtreasury minor
coin transfers.
Government of the
Philippine Islands.
TotaL
$395,192.59
22,287.67
$160,000.00
11,660.00
$585,643.64
$442,435,824.00
118.459,892.96
36.830,708.11
395.494,184.83
27,581,437. 71
304,408.56
142,331.91
81,978.54
61,079.32
21,451.68
129,418.82
2,861,925.23
275,504. 49
$3,028.21
417,480.26
171,560.00
585,643.64
3,028.21
1,024,680,146.16
©38
84
REPORT DIRECTOR OF MINT.
No. 10.— Earnings and Expenditures of the United States
EARNINGS AND GAIN8.
Items.
Mints.
Philadelphia.
San Fran-
New Or¬
leans.
Denver.
Charges for parting and refining .
Charges for alloy . .
Charges for assaying and stamping .
Seigniorage on subsidiary coinage .
Seigniorage on minor coinage .
Seigniorage on recoinage of minor coins .
Profits on medals and proof coins .
Charges received for mounting, etc., medal fund
account .
Charges for the manufacture of medals, etc. .
Deposit melting-room grains and sweeps .
Surplus bullion recovered by operative officers _
Gain on bullion shipped to 'mint for coinage .
Proceeds sale of old material . .
Receipts from special assays of bullion and ore. .
Receipts for manufacturing appliances for Govern¬
ment and other institutions .
Charges received for coinage for Philippine Gov¬
ernment .
Gain on light-weight United States gold coin for
recoinage .
Amount received in excess of assay value of M and
R sweeps sold .
Charges for treatment of deposit melting-room
sweeps . .
Bullion recovered from cleaning refinery pipes. . . .
Bullion and currency recovered account of em¬
bezzlement .
Receipts from sale of by-products. .
Charges for the man ufac t ure of proof gold and si i ver .
$83, 233. 18
2,24a 19
$67,654.12
4,524.22
$3, 76a 18
88.45
1,700,380.64
1,875,505.38
2,498.35
3,069.99
249.63
1,979.79
2,657.13
25,903.05
742,580 66
39,242.50
1,233.36
1,349.79
1,399.72
308.00
425.69
4,278.93
3.22
551.57
15.82
60,836.81
41,836.82
98.00
3, 756, 372. 94
917,514.27
9,123.86
$58. 175. 16
2,388.96
4,030 23
6,186. 15
818.13
9.00
157.45
1,088.45
818. 77
99,396.19
EXPENDITURES AND LOSSES.
Salaries of officers and clerks .
W ages of workmen and adjusters . . . . . . . . . *
Contingent expenses less amount to reimburse
wastage and loss on sweeps sold.. .
Pwttng and refining expenses less amount to reim¬
burse wastage and loss on sweeps sold
>V astage of the operative deportments .
W astage of the operative departments, minor coin¬
age operations .
Loss on sweeps sold during the year. . !
Expenses of distributing minor oolns _ _ ! . *
Eotc ?SeS °f medal fun<* (charges paid,' mounting,
Loss on recoinage of minor coin .
Loss on bullion shipped to mint for coinage. .
Total .
$43, 55a 00
385,569.75
$40,824.46
194,679.91
$27,3oaoo
21,27a 80
$37,958.06
90, 719. 69
58,217.69
46, 818. 50
6,892.81
22,244.30
6S.849.13
1,824.77
77,26a 16
3,051.51
2,628.72
29,819.98
799.81
1,597. 4S
832.24
20, 189. 92
1,966l6S
59.51
766.07
337.56
249.63
14,028. 54
594,909.15
364,66a 73
58,858.40
181,879.40
BEPOBT DIBECTOB OF MINT.
85
Mints and Assay Offices for the Fiscal Year 1910.
EARNINGS AND GAINS.
A May offices.
Now York.
Carson.
Helena.
Boise.
Charlotte
. 81. Louis
Dead-
’ wood.
Seattle.
Salt Lake
City.
1 Total.
$29,427.27
fOiO o Aft ni
6,570.80
f Z4 Z, Z4V. U1
14 fcIO f'}
12,588.13
$1,017.20
$110.02
$530.78
$900.43
$15,203.23
$1,121.52
M, HJZ. I/Z
23, 135. 89
2,408,085.09
1,914,747.88
I-::::::::
2,408.35
3,009.99
249. 63
1 07B **Q
8,771.61
3,079.01
341.10
871.03
191.56
48.88
1,305.04
2,583.77
15142
1 , ¥/¥. TV
20,000.88
1,148.97
75.00
482.93
25.00
24.70
1,520.21
36. 46
51.00
235.97
40, 797. 63
4,684.98
3,112.49
3,434.22
79.70
'
34.05
86. 51
1,898.00
100.00
1.00
330.40
378.00
134.00
149.00
14, 142. 48
.
00, oo»). Mi
220 20
457.82
AK"7 I/O
w7. (m
807.88
1,088.45
818. 77
41,830. 82
98.00
49,284.77
0, 432. 05
3,438.22
J. 110. 55
911.78
799.17
2,385. 17
19,394.00
1,508.91 4
1,860,672.54
EXPENDITURES AND L088E8.
$36,918.75
31,180.16
$6,000.00
6,508.00
$5,450.00
13,267.50
$3,400.00
8,150.00
$2,750.00
840.00
$2,383.34
997.22
$3,200.00
3,866 00
$6,993.00
28,314.16
|$7,100.00
| 4,434.00
$225,827.07
766,886. 19
7,832.97
62,378.09
3,352.35
3,124.24
2,272.20
622.04
301.76
564.17
6,191.29
3,537.12
161.031.44
240 930 0B
6, G76. 09
1 Efl-* IQ
1,010.20
A U1 O
4, VIZ. 70
on oao to
ZU, Z4V. ii
249 63
76.09
14,°S.’S
139,396.26
14,950.35
21,841.74
13,822.20
4,212.04
3,742.32
7,629.17
42,498.51
15,071.12
1,463,471.39
86
REPORT DIRECTOR OF MINT.
No. 11.— Imports op Gold and Silver, by Customs Districts,
Customs districts.
Gold.
In ore and
base
bullion.
Bullion refined-
Coin.
Total gold.
Ounces.
Value.
United
States.
Foreign.
Atlantic ports:
13,746
810
3
$284,374
16,122
58
$284,374
$500
215
16,622
493
Boston and Charlestown, Mass. .
$220
New York, N. Y .
1,173,449
2,642,340
201,017
4,140,962
819, 839
$3,969,334
10, 103,584
2.642.340
12,758
5, WO
687.530
43,730
3.338,910
3,926.935
6,642,429
382,681
4.026,931
5,280,545
26.638
3,362,104
39,053
Philadelphia, Pa .
12,758
5,800
Gulf ports:
687,530
43,730
Mexican border ports:
818,736
71
370,758
236,412
176.077
3,798,361
22,039
1,957.537
26,518
125,987
189,930
311.641
7,041
234,668
65,400
258
55,062
2,530,174
3.925,864
6,246,771
146,269
3,836,854
1,282,354
4,599
1,138,301
Corpus Christi, Tex .
1,000
Paso del Norte, Tex .
24,900
Saluria, Tex .
Pacific ports:
Alaska .
14,000
219,830
Puget Sound, Wash .
San Diego, Cal .
San Francisco, Cal .
16,486
12,535
249,780
Northern border and lake ports:
Buffalo Creek, N. Y .
Cape Vincent, N. Y .
Champlain. N. Y .
Chicago, HI .
59,980
150,289
52,457
20
690,956
171,264
40
2S3,70i
150,349
690.956
3,638
3,569
15,113
494,910
295,456
70
578,296
390
Detroit, Mich .
Huron, Mich .
3,638
Memphremagog, Vt .
183
133
3.569
2,783
Niagara, N. Y. .
4,046
494,910
295,456
70
740
7,544
North and South Dakota .
Oswegatchle, N. Y .
Superior, Mich .
Vermont, Vt .
426
8,038
172,455
397,803
Interior ports:
Denver, Colo .
390
Omaha, Nebr .
Total .
12,918,827
1,206,305
23,537,092
2,050,563
4,833,423
43,339,«5
recapitulation*.
Atlantic ports .
3,816,009
687,530
215,576
4,441,516
826,354
43,730
1,000
250,316
929,163
3,982.092
13,065,971
731,260
14,290.955
12.696,218
2,555,111
390
Gulf ports .
Mexican border ports .
1,425.977
5,954,014
1,034,907
390
634.809
355,388
742
12,839,078
6,242,108
14,390
24,900
249,780
576,651
Pacific ports. .
Northern border and lake ports .
Interior ports .
REPORT DIRECTOR OF MINT.
87
into the United States during the Year ending June 30, 1910.
Silver.
Total silver.
Silver contained
la ore.
Bullion.
Coin.
Ounces.
Value.
United States.
Foreign.
676,686
$353,226
$353,220
19,424
460
15,912
2,507,918
6,681,968
10,748,129
1,009
4,514
177,514
1,111
2,772.282
43,927
2,992,352
4,515,540
6,926
885,889
$19,424
400
$15,9i2
2,507.918
2,378, 790
10,748,129
7,988,849
4,148,911
87,820
$66,441
1,009
4,514
177,514
1,111
1 , S37, 320
150
1,383,241
8S2.7SS
5,926
427,478
1,867,071
84.205
3,076,842
7,012,881
934,962
43.777
1,599,805
3,632,752
7,185
2,121
160, 4G4
84,857
373,536
18
478, 551
1,137,749
2,309,855
i, 185, 511
2,000
356,862
2,400
96,597
2
953,304
916,290
2,582,352
1,494,611
2,400
372,162
1.185.316
1,002, 320
115,426
2,580
4,604,427
68,972
1,296,045
453,148
207,355
2,279
10.700
273,412
1,185,313
38,950
115. 426
2,153
2,580
112,720
4,349
4,481,118
01.623
1,290,045
453.148
1,231
2,279
10,700
200,130
100,589
2,972
1,706
201,918
2,500
29,726,209
23,379,955
12,086.096
2.236,842
1,168.047
45,217,194
15,650,755
8,665,535
4,502, 137
112,218
1,111
7, 185
375,536
1,740,792
67.450
177,514
2, 121
910,308
4,654
20,332,560
178,625
10,324.101
3. 474. 1C7
10,894.762
12,979
4,103,499
911.955
9,047,021
12,979
12.040.999
2,470,319
203,102
6,211.296
1,270.368
102,295
88
BEPOBT DIEECTOB OF MI3TT.
REPORT DIRECTOR OF MINT.
89
the United States during the Year ending June 30, 1910.
Silver.
Bullion.
Coin.
In ore.
Ounces.
Value.
United States.
Foreign.
Total silver.
$243
91,465
$44,935
36,193
2,786
16,826
$45, 178
36,193
7,743
46,539
201
70,956
5,296
32,936
374
24,024
$4,244
5,004
201
$339
685
3,020
353
1,511
185
1,511
185
168
115
53
6,7 96
211
6,796
9.793
100,868
2.010
397
407,933
18,553
171,135
9,582
87,437
2,010
397
397,751
13,431
3,920
793
9,238
764,889
09
875
385
385
13,692
4,421
232
18
13,692
35,616
11,888,440
1,040,301
31.195
10,058.664
579,660
203,102
160,464
102,295
84,857
1,727,249
375,766
604,097
308,200
308,200
10,580
606. G65
24. 168
62,079
750
10,580
163,334
23,070
4,769
437,574
11,933
2, 197
7,737
5,757
1,098
4,032
53,278
750
17, 129,481
18, 198, 6ii
9,427,057
7, 185
32.643
3.799
23,693
4.404
28,921
707
28,592,644
33,350
5. 174
23,818
5.047
2,247
25,192
16,525
92,196
8
1,040
610
335
125
450
240
403
692
1,555
23,440
108
1,752
16.417
34,949
111,139
57,243
4
8
1,281,204
4,300
215,753
24,007
2,257
116,791
12,480
1,243
1,397.995
17,993
1,243
685
29
1,184
685
41,590
1,482,789
754,861
34
796,485
865,580
865,580
1,246
2,941
838,222
427,312
2,000
13,175
443,733
2,941
182, 6S2
10,735
352,671
182,682
10,735
44,530
44,530
29,728,209
23,379,955
12,066,096
2,236,842
1,168,047
45,217,194
54,317
28,260,447
1,362,728
4,187
1,163,316
19,189.801
1,835.945
838,222
352,671
599,613
9,933,871
942,618
427,312
182,682
9,633
2,225,180
29
2,000
1,952
275,375
1,230
878.755
10,735
665,515
40,694,873
2,306.605
1,312.254
193,417
44,530
44.530
90 REPORT DIRECTOR OF MINT.
No. 13.— Exports, by Customs Districts and Countries, of Domestic Gold
Customs districts and countries.
Gold.
In ore and
base
bullion.
Bullion refined.
Coin.
Total gold.
Ounces.
Value.
CUSTOMS DISTRICTS.
Atlantic ports:
84, 100
150
S4, 100
1,528
Bangor, Me . .
68
SI. 378
New York, N. Y .
SI. 000
75,953.008
75,954,608
Perth Amboy, N. J .
Gulf ports:
Mobile, Ala .
50,000
505,53?
50,000
505,537
New Orleans, La. .
Mexican border ports:
Corpus Christl, Tex .
Paso del Norte, Tex.. . .
98.794
263,201
648,667
747,461
341,191
2,000
236,329
27,008,324
576,319
Pacific porta:
Alaska .
5.043
77,000
Hawaii .
2,000
14,742
} 510
200,000
Puget Sound, Wash .
San Francisco, Cal . .
Northern border and lake porta:
Buffalo Creek, N. Y .
208.540
030
f 871,077
\ 435,375
18,279
18,038
18,007,814
0,000,000
376,319
Cope Vincent. N Y .
Champlain, Is. Y .
Detroit, Mich . .
. iw‘
100
1
6,465
. 2, '266
1,910
24
132,486
6,250,000
6,' 250. 000
2,260
3,671 1
24
1,062,486
Huron, Mich .
1,752
Mcmphremagug, Yt .
Niagara, N\Y .
950,000
Oswegatchlc, N. Y . .
Vermont, Vt .
2,644
53.870
1.750,000
i, 808,870
Total . ! .
Recapitulation:
Atlantic ports .
Gulf ports .
508,380
1,340.001
27,672,014
86,329.314
114,560,714
1,000
. 68
1,378
75,957,858
555,537
648,067
17.252
9, 150,000
75.060,236
555,537
747.461
27.587.544
9,718,636
Mexican border portj .
08.704
406, 840
1.752
Pacific ports .
Northern border and lake ports. . .
COUNTRIES.
Europe:
Belgium .
1.312,425
27,598
27. 103,752
566.884
Germany .
600
1,400
32,150,000
600
1.400
32.151.000
United Kingdom — England.
North America:
Bermuda .
1,000
British Honduras.
20,000
150
9.150,000
14,742
373,737
80.000
7,300
500
1,474,000
30
648,667
41,000
. 6,400
762.108
62.500
20.666
1.52S
9,039,775
356,300
72
373,737
80.000
7,300
500
1,474,000
30
747,461
41,000
. 6,400
762,106
' 62,500
Canada—
Nova Scotia, New Brunswick, etc
Quebec, Ontario, etc . . .
British Columbia. .
Newfoundland and Labrador
Central American States—
Costa Rica .
Guatemala .
222,963
245,620
OS
27,504
5,073
4
1,378
566,812
95,038
72
Nicaragua. .
West Indies—
British .
Cuba .
French .
Haiti . ;; .
Santo Domingo .
98,704
::::::::::::
I
REPORT DIRECTOR OF MINT.
and Silver from the United States during the Year ending June SO, 1910.
92 BEPOBT DIBECTOB OF MINT.
No. 13.— Exports, by Customs Districts and Countries, of Domestic Gold
Gold.
Customs districts and countries.
In we and
Bullion refined.
Coin.
Total gold.
base
bullion-
Ounces.
Value.
co cntmes— continued.
■kmth America:
.
S2S.665.000
S2S.6S5.000
11,984. 1S5
11,984.165
41,000
41.000
50,000
50.000
772.390
Asia:
39
ssoo
800
Straits Settlements . ... _
1.125
Hongkong. . . .........................
82
1.700
2,480
4. ISO
1 1 435,375
\ 870.956
i o nm rrn
16,003,314
27.006.314
' .
Total . —
SMB. 386
1.340.001
27.672.014
86.329.314
114.569.714
Recapitulation: *
1,000
32.152.000
32.153.000
567.386
33,630
664,200
12,641,134
13.S72.720
South America .
41,532.575
41.532,575
Asia . .
1,306.432
27,007,614
3,605
27,611.419
—
* United States mint or assay office ban.
REPORT DIRECTOR OF 303TT. 93
ax© Sam rzon the TTxrcx© States dchixg the Yeah itiwc- Jrx* 3QL H10 — C«.
94
REPORT DIRECTOR OF MINT.
14, _ Exports, by Customs Districts and Countries, of Loreign Gold and
Gold.
Customs districts and countries.
In ore
Bullion refined.
Coin.
Total
gold.
and base
bullion.
Ounces.
Value.
CUSTOMS DISTRICTS.
Atlantic ports:
2,739
2,739
PrBW 1 01 l*j . 1 ...
Mexican border ports:
Pacific ports:
5,800
2,021
5,800
2,021
Northern border and lake ports:
2,010
73,076
43G
2,010
73,076
430
Champlain, N. Y .
Vermont, Vt .
103,395
163.395
Total .
3.993.501
3.993,501
Recapitulation:
Atlantic ports .
= "
3.740, 163
3,746.103
Pacific norts. . . .
8,421
238, 917
8.421
238,917
Northern border and lake ports .
COUNTRIES.
Europe:
Austria-Hungary... ...................
France . - . . .
3,239
3,855
3,239
3,855
Germany .
Italy
United Kingdom — England .
14,000
40,000
14,600
40.000
North America: Bermuda... .
Canada:
Nova Scotia, New Brunswick, etc .
Quebec, Ontario, etc .
238.917
2,021
238, oi?
2,621
British Columbia .
Central American States: Nicaragua .
Mexico .
West Indies:
British .
Cuba .
3,495,500
5,839
183,130
3,495,500
5,839
183,130
South America:
Brazil .
Colombia .
British Guiana .
Asia:
Hongkong .
Oceania .
British possessions:
Australia and Tasmania .
5,800
5,800
All other British possessions .
Total .
3.993.501
3,993,501
Recapitulation:
Europe .
21,094
3,777,038
188,909
21,094
3.777.038
18S.9C9
North America . . . .
South America .
Asia
Oceania .
5,800
5,800
REPORT DIRECTOR OF MINT.
97
No. 16.— Transit and Transshipment of Gold and Silver in the Customs
Districts ok New York and Arizona during the Year endlng June 30,
1910— Continued. „ „„„
silver.
Countries from which received and to which
shipped.
In ore.
Bullion,
refined.
Foreign
coin.
Total gold.
Receivod from —
United Kingdom _ Engl&nd .
$10,000
11,064
$10,000
5,082,513
10,795
1,562,934
55,819
Mexico. .
$40,640
445
%5, 030, 809
10,350
1,562,934
55,021
West Indies:
British
Colombia .
798
Total .
41,883
6,659,114
21,064
6,722,061
Shipped to—
1,595,580
1,220,527
3,842,725
282
6,507
1,602,087
1,220,527
3,884,608
14,839
United Kingdom— England .
Mexico .
41,8S3
14,557
Total .
41,883
6,659,114
21,064
6,722,061
No. 17.
-Seigniorage on the Coinage of Subsidiary Silver and Distribution
of the Same during the Fiscal Year 1910.
Balance and seigniorage.
Balance on hand July 1, 1909:
Philadelphia . . $1,596.82
Seigniorage on subsidiary silver:
Philadelphia . $1,700,380.54
San Francisco . 742,580.60
Denver . 25,723.89
- I - 2,468,685.09
Total . 2,470,281.91
Balance deposited by the mints in the Treasury.
Philadelphia..
. $253,618.77
732,518.26
243.596.84
247,285.70
131,123.82
93.689 55
Total
San Francisco. .
. $1,701,832.94
.. 65,273.24
301.511.39
104,177.05
194,039.23
Total TTTTTTTT gos, 000.91
Denver? *.! i . 23,723.80
Amount deposited In Treasury 2,392,557.74
Balance on hand S une 30,
1910:
Philadelphia . $144.42
San Francisco . 77,579.75 ^ ^
Total . 2,470,281.91
The net seigniorage on silver coined since July 1, 1878, including the balance on hand at the mints on that
late, to July 1, 1910, was $159,935,840.70.
72663°— 11 - 7
98
REPORT DIRECTOR OF MINT.
No. 18.
-Average Price of an Ounce of Gold in London and Equivalent
Value in United States slvce J870.
Calendar years.
Average Lon¬
don price.
Equivalent
value in
United States
gold coin of
an ounce of
gold, British
standard
(0.916J).
Value in
United States
gold coin of
an ounce
1,000 fine.
Percent
premium
above Bank
of Eng¬
land’s mini¬
mum rate.
1870 .
£ t. d.
3 17 9.01
3 17 9.01
3 17 9.24
3 17 9.28
3 17 9.00
3 17 9 .23
3 17 9.30
3 17 9.42
3 17 9.41
3 17 9.11
3 17 9.15
3 17 9.35
3 17 9.43
3 17 9.18
3 17 9.32
3 17 9.17
3 17 9.10
3 17 9.01
3 17 9.21
3 17 9.04
3 17 9-44
SI 8. 9187
18.9187
18.9233
18.9241
18.9185
18.9231
18.9246
18.9270
18.9268
18.9207
$20,638
20.638
1871 .
^ mine
1872 .
20*643
20.644
20.638
1873 .
tram
1874 .
.UJUUU
1875 .
1876 .
20015
1877 .
rvtvii
1878 .
1879 .
*
1880 .
1881 .
IK*
1882 .
IK
•Jj* "J
1883 .
IK
* HI (rjrt
1884 .
IK SS
Jj* ^
*Sss
1885 .
1 ft! 9219
on* ajo
1886 .
on lun
1887 .
1ft QMT7
.01071
1888 .
1ft 079^
20. G38
.00106
1889 .
1 ft Q1 (i?
20.642
.01804
1890 .
20.639
.00428
1891 .
3 17 10^29
3 17 10. 17
I ft (H J c
20.648
.04715
1892 .
1 ft A|AA
20.666
. 13826
1893 .
3 17 10.57
i ft asm
20.664
.12542
1894 .
3 17 9.33
3 17 9.03
J:™
20-673
. 16826
1895 .
18. 11256
20-646
.03747
1896 .
3 17 10. 16
18.9191
20.639
.00324
1897 .
3 17 11.23
18- 9420
20. 664
.12433
1898 .
3 17 10 46
18. 9637
20.688
.23901
1899 .
3 17 9^27
3 17 9.91
20.670
.15648
1900 .
18. 9240
20.644
.02936
1901 .
3 17 9.83
18.9371
20.658
20 657
20 650
20.662
20.659
. O>70
1902 .
3 17 9.55
18. 9356
. 09078
1903 .
3 17 10.06
18.9300
.05951
1904 .
18.9404
. 11570
.10337
1905 .
817 o
18.9380
1906 .
3 17 o m
18- 9272
20.648
20.657
20.660
20.665
20.642
.04639
.09008
1907 .
1 17 Q QE
18. 9355
1908 .
n 17 in i o
18. 9381
.10359
1909 .
3 17 9 18
18. 9429
.12935
W 18
18. 9224
.02062
Mint price .
Bank price .
3 17 10. 50~
3 17 9.00
18.9491
18.9185
20 671
.16208
20.638
N° Val^E or TH® S,LVEE Dollar (3711 Grains or Pure Silveb]
at the Annual Average Price of Silver each Year from 1837.
Calendar year.
1837.
1838
1839
1840
1841
1842
1843
1844
1845
1846
1847
1848
1849
1850
1851
1862
1853
1864.
1855.
11.009
1.008
1.023
1.023
1018
1 007
1 003
1.008
1.004
1.005
1.011
1.008
1.013
1.018
1.034
1.025
1.042
1042
1.039
Calendar year.
1857
1858
1859
1860
1861
1862
1863
1864.
1 80S
1866
1867
1868.
1869.
1870.
1871.
1872.
1873
1874.
SI. 039
1.016
1.039
1.052
1.015
1031
1 041
1.040
1.010
1.035
1-036
1.027
1025
1.024
1.027
1.025
1.022
1.00368
.98909
Calendar year.
1875.
1876.
1877.
1878.
1879.
1880.
1881.
1882.
1883.
1884.
1885.
1886.
1887.
1888.
1889.
1890.
1891.
1892.
Value. | Calendar year.
SO. 96086
90039
.92958
•89222
.85754
-85904
-82379
.76931
.75755
.72683
.72325
.80927
.76416
.67401
1894.
1895.
1806..
1897.
1898.
1899..
1900..
1901..
1902. .
1903..
1904..
1905..
1906. .
1907..
1908..
1909..
SO. 49097
52257
46745
WO
6525
7958
46003
0835
1960
4763
-200
52353
164
371
REPORT DIRECTOR OF MINT. 99
No. 20. — Product op Gold and Silver in the United States from 1792 to 1844
and Annually Since.
[The estimate for 1792-1873 is by R. W. Raymond, commissioner, and since by the Bureau of the Mint.]
Gold.
Sliver.
Calendar years.
Fine ounces.
Value.
Fine ounces.
Commercial
value.
1792 to July 31, 1834. .
677,250
362,812
48.762
$14,000,000
7,500,000
1,008,000
Insignificant.
193,400
July 31, 1854, to Dec. 31, 1844 .
$253,400
50,200
\m&. . ' . ’ .
38,700
1846 .
55,341
43,005
1,140,000
889.000
38,700
50,300
50,600
1847 .
38,700
1,187,170
24,537,000
309,500
404,500
1848 .
483,750
10,000,000
38.700
50,500
1849 .
1,935,000
40,000.000
38,700
50,700
1850. . • -
2,418,750
2.660,625
50,000,000
55,000,000
60,000,000
38,700
50,900
issi .
38,700
51,700
1852 .
2,902,500
3,144,375
2,902,500
38,700
51,300
1853 .
65,000,000
38,700
38,700
52,200
1854 .
60,000,000
62,200
1855 . .
2,060,625
2, 660, 625
2,660,625
2,418,750
2,418,750
55,000,000
38,700
52,000
1856 .
55,000,000
38,700
52,000
1857 .
55.000,000
38,700
52,400
1858 . .
50,000,000
38,700
62,000
1859... .
50,000.000
77,300
105,100
I860. .
2,225,250
2,060, 125
1,896,300
1,935,000
46,000,000
116.000
156,800
1861. .
43,000.000
1,546,900
2,062,000
1862 .
1863 .
39,200.000
40,000.000
3,480.500
6,574,200
4,684.800
8.842,300
1864 .
2,230.087
2,574,759
2,588,062
. 46,100,000
8.507.800
11,443,000
1865 .
53,225,000
8,701,200
11,642.200
I860 . .
53,500,000
7,781,400
10,356,400
1867 . . .
2,502,196
51,725,000
10,441.400
13.866,200
1868 .
2,322,000
48.000.000
9.281.200
12,306,900
I860 . .
2,394.562
49,500,000
9,281,200
12,297,(00
1870 .
2,418,750
2,104,312
50,000.000
12,375.000
16,431,000
1871 . .
43.500,000
17,789, 100
23,588, 300
1872 .
1,741,500
36,000,000
22,236,300
29,396,400
Total .
58,279,778
1,204,750,000
118.568,200
157,749,900
1873. .
1,741,500
1,620.122
1,619,009
1,931.575
2,268,662
2,477,109
1,881,787
1,741,500
1,678.612
1.572, 187
36.000.000
27,650,400
35,881,000
1874 . . .
33,490.900
28,868,200
36,917.500
1875 .
33,467,900
24,539,300
30,485,900
1876 .
39,929,200
29,996,200
34,919,800
1877 .
46,897,400
30,777.800
36,991.500
1878 .
51,206,400
35,022,300
40,401,000
1879 .
3S, 900, 000
31,565.500
35,477,100
1880 .
36,000,000
30,318,700
34,717.000
1881 .
34,700.000
33,257.800
37,657.500
1882 .
32,500.000
36,196.900
41,105,900
1883 .
1,451,250
30.000,000
35,732,800
39,618,400
1884 .
1,489,950
30,800,000
37,743,800
41,921.300
1885 .
1,538,373
31,801.000
39,909,400
42,503,500
1886 .
1.686,788
34,800.000
39,694,000
39,482,400
1887 . .
1,603,049
33,136.000
41,721,600
40.8S7.200
43,045,100
188S . . .
1,604,478
33, 167,500
45,792,700
1889 .
1.594,775
32,967.000
32,845,000
50,094.500
46.838,400
1890 .
1,588,877
54,516,300
67,242,100
1801. .
1,604.840
33,175,000
58,330,000
57,630,000
1892 .
1893. .
1,597,098
1,739.323
33,015.000
35,955.000
G3, 500.000
60.000,000
55,662.500
46,800,000
1894 .
1.910,813
39,500,000
49.500,000
31,422.100
1885 .
2,254,760
46.610,000
55,727,000
36, 445,500
1896 .
2,568, 132
53.08S.000
58,834,800
39,654.600
1807. .
2,774,935
57.363.000
53,860.000
32,316,000
1898 .
3,118,398
61.463,000
54.438.000
32,118,400
1890. .
3.437.210
71,053.400
54.764,500
32,858.700
1900 .
3,829.897
79,171,000
57,647.000
35,741,100
1901. .
3.805,500
78.666.700
55,214.000
33,128,400
1002 .
3,870,000
80.000.000
55.500.000
29,415,000
1003. .
3,560,000
3.892,480
73,591,700
54,300,000
»,as»aoo
1904 . .
80,464,700
57,682.800
33,456.000
1905 .
4,265,742
88,180.700
56,101,600
34,222,000
1906 .
4,565,333
94,373,800
56,517,900
38,256.400
1907 . .
4,374.827
90,435.700
56,514.700
37,299,700
1908 .
4,574,340
94,560.000
52,440,800
28,050.600
1900 .
4,821,701
99,673,400
54,721.500
28,455,200
Total .
93,654,932
1,936,017.400
1.718.992,800
1.40S.347. 400
Grand total .
153,121,880
3,165,304,400
1,837,870,500
1,566,501.800
100
REPORT DIRECTOR OF MINT.
No. 21.— Product of Gold and Silver in the World Since 1S80.
Gold.
SDrer.
Calendar years.
Fin* ounces.
Valoe.
Fine ounces.
Comm (Trill
value.
ISflO .
6.486,362
$134,063,000
29.Q95.42S
$39,337 000
1861 ... . . . .
5,949.582
122.969.000
35,401.972
46,191.000
1862 . .
5,949.582
122.969.000
35.401.972
47,651.000
1863 .
5.949.562
5.849.562
122,989.000
122.969.000
35,401,972
47.616.000
1864 .
35,401,972
47.616.000
1865 .
5.849,562
122.969.000
1257.614,000
35,401.972
43.051,583
47.368.000
1866 .
6,270.066
6,270.066
57.646.000
1867 . .
129.614.000
43.051,583
57. 173. CW0
1868 . . . . .
6,270.086
6.270.066
129.614,000
129.614.000
43.051.583
57.086.000
1860 .
43,051.583
43,051.583
63,317.014
63,317,014
57.043,000
1870 .
1S71 .
6,270.066
5,591.014
5.591.014
129.614,000
115.577.000
115,577.000
57.173.000
83.958.000
1872 .
83.705,000
Total .
78.766,630
1.628,252,000
5*7 W7 211 1 r!9. 563.000
1873 . .
4.653.675
4.390,031
4.716.563
96.300.000
90,750.000
97.500.000
103.700.000
113.847.200
119.092.800
108.778.800
106.436.800
103,023.100
101.996.600
95,392.000
101.729.600
108.435.600
106.163.900
105.774.900
110.196.900
123. 489. 200
63.267.187
55,300.781
62.261, 719
67,753. 123
62,679,916
73.385.451
74.383.495
74.795.273
79.020.872
86.472.091
89,175.023
81.567,801
82.120,800
1874 . .
70,674.400
77.578.100
78.322.600
75. 278.600
84.540.000
83.533.700
85.640.600
89.925.700
98,232.300
96.9M.dbO
9a 785.000
97,518.800
82 793,500
94.031.000
102,185.900
112,414.100
131.937.000
135.500.300
400
1875 . . .
1876 .
5.016,488
5,512. 196
5,761.114
5,262, 174
5.148.860
4.963,742
4,934.066
4.614.568
4.921.109
5.245.572
5.135.679
5.116.S61
5.330,775
5,973,790
5.749.306
6,330.184
7.084 266
1877 .
1878 . . .
1879 . ...
issn
1881 . .
1882 . .
1883 .
1881 .
1885 .
91 ! 609 ! 959
93. 297 ,
1886 .
1887 .
1888 .
lfls'&T' G06
1889 .
ion tn i
1890 .
i is fiifi -nn
Ul, ZIJ. (ill
126.095. 062
1891 .
130.650,000
ITT i?n aio
1892 .
U< , 1IU.V1V
1883 . ...
7‘ 618! 811
R. 764. 362
8.615,190
9.7S3.914
11 420 06S
146, 651, 500
157,494,800
181, 1 1 5, 600
153, 151,762
129, 119.900
104. 493.000
1884 .
165, 472, 621
|£l AtA Ml
1885 .
ISfci, ■ fi3. 600
1M.UU.W
IS? e/m iwi
1896 .
w oo am
IDl . JWJ. XU
1W, W, 'w
iac esn inn
1897 .
236,073, 700
157,061. 370
ISA i-11 ACA
1UO.
cu\ 7(in
1896 .
13 87?’ 806
loU. 4_1.U8J
t fin rwc ;
1899 .
14! 837! 775
12.315, 135
286,879, 700
vk im
ltiU.Ooo. 253
mi no° iiYI
1900 .
•M>, l .1, 111)
168.337. 453
1U1 . w- -
107. 400
1901 .
12 625. S27
254, 576, 300
qck> r»mi
173,561,364
173,011. 2S3
162.763.483
167,689,322
164. 195, 266
172.317,688
165.054.497
184.206,984
203.236.S61
211,215.633
1902 . .
■W). 992. 911)
103. 806.700
1903 .
15. $52,620
16.804, 372
S6. Ki 700
iw% cm m
1904 .
30, jW, aw
1905 .
is! 396 451
M7,377,300
95,131,300
me iii rm
1906 . .
19. 471 ! 080
19.977.260
21.430.438
21 . 962, 713
Af lO V|> ,VW\
lux llA,
tit *7*11 im
1907 . .
•It., ittS, (XU
ill. ul. uw
121,577.100
1908 .
412, 9f<>, HOO
A 11 /VV
1909 .
JUO
108.711.500
109.832.200
4S4 422 900
Total .
m ODQ nt
«7 TOO mi Onn
4.726.294.043
3. 701. 854. tWO
^ flW, 8(0
Grand total .
433,775,961
S.966.846 800
5,274,291,274
4,431,417,600
report director or mint.
No. 22.— ' Coinage of Nations.
101
Countries.
United States.... .
1'hlllpplne Islands .
Austria-Hungary .
Belgium .
Bolivia .
Brasil . . .
British Empire:
Australasia .
Canada .
British East Africa.
Brit ls)i Honduras. .
Ceylon .
Newfoundland .
Great Britain......
Guiana (British)...
Hongkong .
India . . . .
8 traits Settlements.
Sarawak .
Chile .
China .
Colombia . . • . .
Danish West Indira. . .
Denmark .
$131,907,490
666) 1*4
France
French colonics:
Indo-Chlna..
Tunis .
Germany. . . .
Colony of Herman East
Africa .
Honduras . -
Italy .
Japan .
Korea .
Mexico .
Montenegro .
Netherlands .....
Dutch East indies
Norway .
Persia. .
Pern .
Portugal .
Russia .
Roumanla .
Han Salvador .
Slam .
Sweden .....
Switzerland
Turkey
Gold.
40,902
52.772.2M
100,011,442
Gold.
75,261,788
$13,178,430
0,730,200
3, 45*, 435
105,1*5
i.’iio.two'
i)iii)ooo‘
* 24,500
25.055
24,333
50.000
9,924,740
M, ft*). 037
17,517.000
2,000
750, 100
5,316,439
1,017,5*0
29,172
216.7H9
2,224,300
154,050
1,202,130
$131,08,633
s)»6)k27'
206
15,925,915
H, 944, 080
i6! 632,152
Total...
996,010
. 280
570,000
10,030,231
411,803,902
09,331
50,887,122
3,299
07,157,700
$12,391,777
11,199,868
10,808,313
9,687
2,888,288
$88,776,910
’iii285il80
313,338
‘"si.'iw
100,000
4,911.301
2,433
1,945,720
68,773.220
0,VM,500
187,449
858,340
24, 498,053
407,058
'3,912,084
*m) 574,' 098
14,061,745
77,551
20,210,679 15,660,409
324.433 .
137,410
3,110,555
14,785,004
116,499
13,834,110
2,115.M»
8,5*0,999
617,920
10,371.704
423,040
4,436,294
8,459,790
935,071
16,393, 119
249,000
9,651,454
3,932,351
”i. 849,’ 200*
1,809,300
97,927
. 207)799
1)266)666'
1,809,000
156,440
. 3ii)o6o
23,250
'**4*15,527*
207,300
5,000,338
. 764)267
. i,*930
. i52)w6’
2,344,468
3,263,078
2,315,280
250,085
“’i,* 342)801*
714,428
G53, 306
1,323.756
)”))))))...
. 47)560
319,726
1, 370, 300
4,708,265
380.000
748,707
1,544.000
8,109,755
221.810,876
327,205,049
1 195,088.499
313,242,714
47.330,780
79,194
$8,087,853
3,981.010
9,784,001
2,191,796
389,000
247,681
09, 104,300
073.044
16,222
(>4,887
100,000
5,851.205
2,920
5,068,025
9 258,002
1,720,792
1,052,900
38*746^321
249
M, 272, 420
208,471
11,103,996
39,372
3,449,
9,797,
12,607
97
670
7,371
199
1,586
162
1,407
MM
13f
5.00C
<
3.77-
6.03
"6*
39
10
50
78
113,42
sla'issi1: gS81«8IB8S¥§: 8 SIS si
102
REPORT DIRECTOR OF MINT.
No. 23.— World’s Production of Gold and Silver.
CALENDAR YEAR 1007.
North America:
United States..
Mexico . .
Austria- H angary. .
Germany .
Nonray. . .
Sweden . . .
Italy
Turkey .
France .
Great Britain..
Argentina..
Bolivia. .
Chile..
CofaxnMa...
Brazil.
Vi
British....
Dutch .
French....
Peru .
Uruguay .
Central America...
Twin Oiln*
Korea. ...
India < British) _
East Indies —
British .
Dutch.....
Total.
Gold.
Kilo¬
grams
(An*)-
136,073
2k, MO
12,613
22S.6K5
113.870
40,151
3.7*
100
7
1, 257
44
00
155
1,007
4,008
402
3,0*0
34
1,963
963
3.552
774
78
3,172
A 172
6,771
4n
3,266
2S0
15.04
2.340
3,123
Ounces
(fine).
4,374.827
MS, 6U9
406,517
7.352,: —
3,660,911
1,290.854
130,209
3 230
650.435. 700
18,681, HX)
8,382.800
151,984. 100
75,677,700
26,684.300
2,4*4,900
66.6CJU
1,914
216
40. 413
1.414
2.8W
4, >85
61,313
157.401
12.923
97,730
1.082
30.961
114,
134. 146
217.688
1.540
105.013
8,038
502,307
75,525
100,614
621,375 19,977.380 412.966,600
18.700
*.600
4.500
OS. 400
29.200
103,000
1.267.400
3,255,600
367.100
2,020,700
22,400
1.304.400
640,000
2.380.800
514,500
51.900
2.107.800
2,773.000
4,500.000
31.800
2.170.800
166.200
10,363,000
1.561,300
2,079,900
6 Ova
Kilograms
(fine).
1,757,844
1.901,904
*7.506
24.586
558.292
A110
54,253
158.261
6*
22.960
127,435
25,786
2.096
24.727
4,268
M2, <37
32.619
58,877
96,506
Gances
(tee).
rial value.
56, 51 A 700
61, 147.203
K. 779, 800
790,431
17,940.090
132-122
1.744.233
5,088,086
201,516
29,761
737, 843
4,097.035
829.025
67.351
794,973
137,216
C7.2W.700
40,357.200
8,434,700
521.700
11,646,400
87,200
1, 151.300
3, 356, MO
U. ■ •
10.600
487.000
2.704 000
547 300
44.5®
524,600
90.600
25,178 16.600
5,222.356 3,446,800
J. CHS 719 692.200
2.456
1,892,896
3.073.411
10,434
335,454
6,729 611 154.206,954
1.600
6. 313. OJO
1,240.300
2,028,40 0
271,900
121,577.100
103
report director of mint.
No. 23. — World’s Production' op Gold and Silver — Comtinued.
CALENDAR YEAR IMS.
Gold.
Sflrer.
t oon tries.
Kilo¬
grams
(fine).
Ounces
(fine).
Value.
Kilo¬
grams
(fine).
Ounces
(fine).
Com¬
mercial
value.
North America:
142,281
4.574.340
m 560.000
1,631.129
687.597
2,291.200
52.440.800
22.106.233
128.060.600
11. 824.600
39 402,900
14, SUM
476,112
9 842.100
33.661
1.082,210
22.371 200
73.064.027
*680,700
250. ASs
8.055.430
I06.520.5tt)
73,327.300
39.583
534,218
1.272.595
17,175,099
9 lSliODO
110.333
3.547,210
Europe: ^
42.209
1.357.027
2S, 062, 200
4.109
55,069
154.636
7.035
132,122
1,770.457
4, 971.544
226.175
70.700
947 000
3,715
119.454
2,469.300
Germany . . .7 .
97
3,134
64.800
2‘l2LO(5
22
46,500
1.111
35,728
19,100
361.000
2.233.600
443.400
Italy .
70
2,251
30,990
129.881
25.786
248
4, 175^674
829 025
3
1,147.400
16.000
59,800
7.971
4,300
316,700
72,300
n J
1,726
55,505
18.415
4,307
135' 255
Great Britain . .
772
Servla .
South America:
AnrcntlQA. .
90
243
7,801
161.300
3,954
127,106
68,000
Bolivia .
\ IO,
16,752
346.300
3,427.300
350.300
2 196 600
180,505
6,806.117
3,105,700
rhilp .
) 5-1
1,375,039
735,500
12.100
Colombia . . - _ -
5,157
165.797
22,642
Ecuador .
527
3.305
37
16, 945
<04
Brazil .
Venezuela . .
lj 184
’ 24,500
3,254
104.626
56,000
Guiana—
British .
2,119
68,116
1,408.100
663.000
2, 135.500
514,500
91.600
Dutch .
90S
3,213
32,071
103,307
'297,546
9 566 118
"5,'ii6,900
Peru .
774
13 8
4,542
24.890
Uruguay .
Central America . .
146,034
3,01*! 800
45,437
1,480.809
781,400
Asia:
Japan .
China .
Korea .
5.253
13,011
4,585
168.874
418.312
147.423
3,174
15,850
512,702
67,770
125,596
3,490.900
8.647.300
3,047.500
65.600
124,194
3,992,854
2,135.900
lndo-China .
India (British) .
East Indies (British) .
(Dutch) .
493
15.947
2,108
3.906
327.600
10.598.500
1,400,900
2.596.300
17,790
571.953
305.900
Total .
006,574
21,430,438
443,000.200
6,321,517
203,236,861
108,711,500
104
BEPOBT DIRECTOR OP MINT.
No. 23.— World’s Production- or Gold axd Silver — Continued.
CALENDAR YEAR 1909.
Gold.
Silver.
Countries.
Kilo-
grama
Ounces
(fine).
Value.
Kilo¬
grams
Ounces
(toe).
Com¬
mercial
(fine).
(fine).
value.
North America:
Uniterl States. .
149,975
14,730
35,875
257,280
106,843
48,723
2,922
4,821,701
473,591
1,153.400
8,271,575
3,435,007
1,566,443
93,946
3.348
399,673,400
9.790.000
23,842,900
I7n Qkx r-m
j 7Q2 068
51,721,500
<28,455. 200
14,496 900
38.45T.100
Canaria .
*867* 141
Mexico .
2,299,'9-JO
73 942 432
Africa .
71 007 900
5W’
'L’
Europe:
Russia .
w ui lm
132,122
8 506 800
*8,700
Austria-Hungary .
*U, «Jol , OW
1 M2 000
31* 0^9
Herman y .
’ 69,200
165)875
C 629
5,332)901
213 122
2,773)l00
110 SCO
Norway' .
Sweden ...
15
M
491
1,168
140
1 0 1 i
29,’373
786,620
4,767,091
829,025
15)300
Italy .
24 200
24,467
148,276
25,786
Spain .
2! 900
2,478.900
431,100
Grew . .
France .
1,726
80
55 505
1,147,400
248
18,415
14,300
7,971
592,012
459,747
11,226
265,106
4,100
Great Britain .
2, 863
7 273
307.900
239.100
5,800
137.900
Servla .
226
286
150*300
South America:
Argentina .
180,900
8,246
Bolivia .
} 741
9,186
Chile .
23,819
153,826
492,400
172,571
13,412
5,548,154
431,204
22.642
2,885,000
Colombia .
4,785
413
3,389
Ecuador .
13*273
^74 400
Brazil. .
It*! 983
2, 252! 900
704
v enczucu .
Guiana—
422
13,576
280,000
6,375
204,958
106, GOO
firllhh .
Dutch .
1,794
934
3,225
774
138
57,607
30,041
1,192,700
621.000
Peru . ...
Uruguay .
108,708
24,890
4,433
2,143,800
514,500
91,600
297,546
9,566,118
4,974,400
v 4-i u rai America .
Asia:
3,957
127,229
2,630,100
71,361
2,294,272
1.193,000
Japan . .
5,698
3,786,700
9,352,100
65,600
133,076
4,278,392
2,224,800
China .
lndo-Chinn .
Korea
14*072
99
3,000
493
15,588
452,’ 4CIG
3,174
96.440
15,850
501,097
Slam .
India (British) .
Indies _
1,993,600
327,600 .
10,358.600
British .
2, 162
69,510
1,436,900
2,146,400
.
3,229
103,832
14,494
465,9*0
242,300
Total .
683,748
21,982,713
454,422,900
6,569,689 5
111,215.633
109,832,200
REPORT DIRECTOR OF MINT.
105
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106
BEPORT DIRECTOR OF MINT.
hN« «o» gg
cJS?S SSS 2 S3 S
&&
S3
Hci
8 2
*5 ^
33Sg£S£8&£8583
•<5 'MriKjdo^Hriciwrt1®
ss sa
- ' s*
S83 888 9 85 888S5$S2SSg2g3383SS
«^c4^ e4-<ci * fig *©<«**■« '2«hh ^,^-o^r- t-
8S3 333
tfr^co 5252!
88 323225285S82S22S8SS SS
06 ‘ .4 06 1^ s£ c« g co * ’ ao t-J ci »o w n «d •-< £; •*
1188
Is'sa
§ i
88111188888.111
2c*3gSS“SS8S,'SS
81 81
3 8
II
till 111 1 II 8188111811118811111 II
||ga g&£ 3 08280§g"~g^5£2S2g,° §**
!§§
388
1888 Hi 8 18 8881811811811888888 88
35| S3 'e32a«gg"-gSSS?®®2§‘° T
1118 888 8 81 8888181118811118811 II
|gs*- ^®!8 g ^ ,rNNSNg8N':SS!2‘ON,0®Sfl's ^
m
f? | ! iitj i
2©® 222 2 22 oddddooodoeoooddoo'2 2
^22 222 2 22 ’O’O'O'U’U'OtS'O’O'OTJ'O'O'O’O'O'O’O'O 2
£ i if
"5^5
: : :
3 <3 : : : :
:. ;a
saa,
= 3 « ecs CoC«ak->ooOoO = r = o
«o(5w^feooa22szz&.p;ssi2cn5
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^2222SS:®2SF:aaS3S?;a SS
ouuiAnoti ,- •op---1-;—-^T\os
REPORT DIRECTOR OF MINT.
107
13.21
17. 41
222. 24
6.00
3.33
8.00
9.00
58.50
2.00
19.55
.39
18.94
12.24
30.39
6.60
18. 13
12.50 |
£883 £888 :3
OOdg^ -*dcg
:;S
■ -r d ;d
8
ri
28 :8 888 :;SS&
588828
■ cxJ ^ ^ ^ ^
fri
3.18
.03
.02
3.46
.33
1.00
2 00
.17
1.48
14.09
.12
5 24
4.01
18. 48
5.50
.39
d
190, GOO
56,300
1,000,000
2,000
600
400
600
35,000
1,700
ill! il
:S88 :5
r
a
18 !l 811 ill 1
8" i-
YUU
173,700
8.600
13,500
26,400
6,900
§
t
e*
11 !l 111 ilii
8" i“ I'"'
700
173,700
8,600
13,500
26,400
6,900
1,379,400
|
till lllilllillll
8 v ®2 8SS»^
6,293,700
! i Is
| | jei : • •
3,200
34,700
116,400
700
1
A
i§§ § §18118881811
a « ”8 8S8S-
4,704,000
21,600
3,400
4,500
1,300
300
100
100
600
4,600
i inn
2,600
19,700
5,400
3,300
24.000
4;.600
1,023,000
Milreis .
Peso. .
Dollar .
Sucre .
Pound sterling...
Florin .
Franc .
Peso .
Sol .
Bolivar .
Peseta .
Crown .
Franc .
Piaster .
Peso .
1 .
odoo odoooi
TJ -O *0 "O T3 X| XJ TJ X! 1
. .uu.
. .do.
..do.
. .do.
. .do.
..do.
Silve
nJJMi!
MijHhi
pScwo p-p-,;
v ruguay .
Venezuela....
Spain .
Sweden .
Switzerland .
Turkey .
Central Ameri¬
can States.
Total .
5SS3
1
a
s
i I
1 1
1 |
if!
HI
1-1
If-3
!"i
ai«
|§3
IPs.
lit
108
REPORT DIRECTOR OF MINT.
No. 2(5.— Authority por Coining, Changes in Weight and Fineness, Act Do-
continuing Same, and Amount Coined por Each Denomination op Coin.
|
- -
Denominations.
Act authorizing coinage or
change in weight or fineness.
\\ eight
(grains).
Fine¬
ness,
Pieces.
Total amount
Coined to June
30, 1910.
GOLD COINS.
Double oaple (S30) .
Mar. 3, 1S49 .
516
270
25S
.900
.916)
•899225
11<» Cfl 7 IfbQ
*2,256, 143,380.00
Eaplo ($10) .
Apr. 2. 1702
1 llA| wJ< , Ills*
June 28, 1834 .
! 48,177.301
481,773,01500
Jan. 18, 1837 .
.900
• 916|
.899225
naif eagle (*5) . .
Apr. 2. 1792 .
135
129
H
June 28, 1834 .
| 70,986,684
354,933,435 00
Jan. 18, 1S37 .
.900
.9161
. V*9225
Quarter eagle ($2.50) _
Apr. 2. 1702 .
June 1834 . .
67.5
64.5
1 13,971,650
34,929,147.30
Jan. IS. 1837 .
Three-dollar piece .
Feb. 21 . 1853 (act discontin¬
uing coinage Sept. 26,
1890).
Mar 3, 1S49 (act discontin¬
uing coinage Sept. 26,
June 2jj, 1902 .
77.4
iSoo
539,792
1,619,376,00
One-dollar .
One-dollar Ivoulsiana
25.8
25.8
258
.900
19,499,337
250,000
00,000
19,499.337 00
250,00500
60,00500
Purchase Exposition.
Dollar, Lewis and ( lark
Apr. 13, 1904 .
Exposition.
Totul gold .
*LVKR COINS.
2U>t291,942
1 3»149,20*,<kU50
Dollar .
Apr. 2. 1792
Jan. 18, 1837 (act discontin¬
uing , coinage Feb. 12,
1873).
Feb. 28, 1S78 .
412)
-8924
.900
•578,303,848
>578,303,848.00
Tm , 1 a #1 ~ 1 1 _ #
July 14. 1**> .
JTSU9 (lOUiT 1 _ - _
Lafavette dollar. . . .
>cb. 12, 1873 (act discontin¬
uing coinage Feb. 19,
Mar. 3, 1899. .
420
.900
35,965,924
35,965,924.00
Htlf rlnllar
Apr. 2. 1792
.900
.S924
50,000
50,00500
Jan. 18, 1837 .
•Mw; i
1
Feb. 21, 1853 .
192
* 192.9
.900
| 306,731,221
183,365,61530
Columbian half dollar
Quarter doUar .
Feb. 12. 1873 .
A up. 5, 1.892 _ ....
.900
5,000.000
1
* 2,500,00500
Apr. 2, 1792 .
Jan. 18. 1S37.. .
104
- 8924 1
Feb. 21, 1S53 .
*9?
•96.45
95 45
•77.16
.900 |
\ 385,922,401
96, 480,605 23
Columbian quarter dol¬
lar.
Twenty-corn piece. . ..
Dime .
Feb. 12, 1S73 .
Mar. 3, 1893 .
Mar. 3, 1S75 (act discontin-
AjFP3gf'lt*!r *•“»).
Jan. 18. 1837.* ! *
.900
.900
40,000
1,355,000
10,00500
271,00500
41.6
38. 4
.8924
.900
Feb. 21. 1853 .
Feb. 12. 1873
602,967,996
60,296,795®
Half dimes.
Apr. 2, 1792 .
Jan. 18. 1S37 .
T3S. 58 .
20 8
mi
• 8924
.900
Feb. 21, 1853 (act discontin-
S£& *»• «•
Mar. 3, 1851 .
19.2 .
97,604,388
4,S90,215«
Three-cent piece .
Ml
11-52
.» I
.900
Total silver _
Mar. 3. 1S53 (act disoontin-
“j!!* C°iD4rP Frb- M.
42,736,240
1,282,087. 20
1 Amount mln^t I. _ _
963,406.08795
frt».2s,is7s; . . ts.m1.2ss
Julv 14 IWMrt . Ill- . - -
July 14, 1890*. .
Mar. 3, 1861 .
- *378,166.793
. 1S7.G27,345
. 5, OTS, 472
Total .
* denitnd' Joint resolution July 23, lSTd
•Total amount coined.
- 570,273.6*0
. 578,303. S4S
• GJ prams, or 96.45 prains.
• 5 prams, or 77.16 pnains.
T 2J prams, or 38.58 grains-
109
REPORT HI RECTOR OP Ml XT,
„ «.v»rrY mi liUSlXG. OMANvIKJ* IX WB0*T WP Fte*X*», ACT P*S~
Noco“x7,^^T ™ SEE r— n*sv»*«s.\T».>s <* Coe-
Oontinwil
Total aa^at
DHWNSlMlMCtt
^asR»«si
W**M
tgraHtsV
!>«a
rtwltahw
3U.IRWC
MIXv'K COM
rtx^rH»t !»**•»' ■ •
Tfcrwvvnl vWkH'. .
vtiac oMu*rf ^ ^
MB
Apr *LMt4CR*4*K4-fr
aux oxtiratfv Wv It
isnv
nn
»
8
MJ.3RI.lsr
R41.Ma«
Tv*»e*nl vbrwwrV
u
01
RW.A*
WA.RSVH*
1 Vnl
Vwr. J. IT** • •
JM
I*,.,..-
V f**1 \W|T"
}t£ It VS»\*4
HR
l
t JR9. SC 44
imuit* v*tMC»
ca«»t
Iflffv
Fab 11. 1VV (*rl«tt*x*»Un
uittt cotaaca Ajx. »
UMv
A|»r ». ISM
n
01
1 s«vnt«
ONtl lh«XM\ir'
HalUvol vcopi**'
m
IO
IM
R4
oi
Jii 5t IS
l T.«M»
1A«* It
-
tlmilac oot«*** »>b *1.
WBV
3tM4.RC.URi
aa.iM.vc «
Total wWat
Total
\flT,vVttW
twakriM* t*
iSSSSUSf
» Un tnj iUk'
' Y*iUt*to*U« JUt*
110
REPORT DIRECTOR OF MINT.
No. 27. — Coin ag k op the Mints of the United States
(Coinage of the mint at Charlotte, N. a, from Its organisation, 1S3S, to its suspension, 1861.]
Calendar years.
Gold.
Total value.
Half eagles.
Quarter eagles.
Dollars.
1S3S to 1861 .
$4. -105.135
*544,915
$109. 138
*5,059, 1SS
[Coinage of the mint at Carson City from its
Calendar years.
Gold.
Silver.
Douhle angles.
Eagles.
naif eagles.
Dollars.
Trade dollars.
1870 to 1883 .
$17,283,500
$2, 997, 780
$3,548,065
$13, SSI, 320
$4,211,400
REPORT DIRECTOR OF MINT.
Ill
FROM THEIH ORGANIZATION, BY CALENDAR YEARS.
(Coinage of the mint at Dahkmega, Ga., from its organization, 1838, to Its suspension, 1861.]
Calendar years.
Gold.
Total value.
Half eagles.
Three dollars.
Quarter eagles
Dollars.
1838 to 1861 .
85,536.053
83,360
8494. G25
872,529
86. 106,560
organization, 1870, to Its suspension, June 30, 1883.)
Silver.
Total coinage.
Total value.
Half dollars.
Quarter dol¬
lars.
Twenty
cents.
Dimes.
Gold.
Sliver.
82,654,313.50
82,579,198.00
$28,658.00
82,090,110.80
823,829,425.00
825,445,009.30 849,274,434.30
Its suspension, 1861, and from Its reopening, 1879, to December 31, 1909 ]
8Uver.
Total coinage.
......
Half
dollars.
Quarter
dollars.
Dimes.
Half
dimes.
Three
cents.
Gold.
Silver.
828.720.038
1,372.000
562,000
1 263.000
87.452,250
854.000
403.000
1.187.000
875,000
614.000
307 500
$3,262,590.00
201,000.00
502,000.00
450,000.00
81ft, 000. 0O
8812,327.50
821, COO 844. 720, 002. 50
‘ "726.' 410. 66
8184.064,335.10
15.017, 000. 00
14,847,000.00
1229. 390, 937. 60
15,017.000.00
15.567,410 00
11, 536.000. 06
11,536,000.00
1050 000
1,127,710.00
7,193.000 00
8,330,710.00
'55*; 800
252 500
1,089,500.00
4,S92,M».0q
5,982.300.00
340.000.00
261.000.00
505.800.00
178,900.00
228, 700. 00
900,000 00
900,000 00
1.223! 000
1,973,300
2 680,000
514! 000
1,140.000
1,561,000
868, 950. 00
1,998,000. 06
| 2,866,950.00
3,619.100.00
4,419,900.00
3,619,100.00
| 4,419.900.00
171,000.00
809,400.00
1,040,400.00
462, <00
40,117,338
j 15,085,750
0,807, 99a 60
812,327-50
1 21,000
48,704, 172.50
249,956.535.10
298, 660,707.00
Its organization, 1*64, to December 31, 1909.]
Silver.
Total coinage.
Total value.
If
5f
Twenty
cents.
Dimes.
Half
dimes.
Gold.
SUver.
Minor.
88,322.569.00
464, 646. 25
18. it/,, on
381.153.00
259,000.00
471,000.00
340,000.00
196,000. 00
337,000.00
8231,000
84.798.728.80,
510,827.00
59, 302. 2U;
207,000.00:
61,330.00'
80.000.00
685,510.90;
313,664.00
317.847.00
322,000.00
100, 000.00]
$119,1
100
- g
s-ftstiatsal
ummzzus
mmims
1150,317,502.30
5.801,634.25
2,784,990.20
2.848. 488. 00
2.521,716 00
2,660,519.00
2,4(0,519.90
1.183.741.00
1,282,847.00
1,340.414.00
1,319,000.00
.
111,150.00
26. 180. 00
81,242,806.909.30
57,446,634.25
81,072, 490.20
47,310,988.00
36,256,716.00
105,829.019.00
40,759,519.90
50.058.741.00
46,703.847.00
2,800.064.00
61.253.180.00
10,789,534.25
231,000
7, 462, 218. 90j
119,100
| 1,594,886.407
183, 464, 371. 65( J7.330.00
1,778.388.108-65
Minor coinage.
Three cents.
Two cents.
Cents.
Half cents.
Total.
$11,150.00
26,180.00
811,150.00
26,180.00
37,330.00
37.330.00
112
KEPOST DIRECTOR OF MUTT.
Xo. 27.— CODCAG* OF THE MlVTS OF THE UviTCD StaTW
rf U» aht at Pcnr fen
CU«brtn - - -
Tbrw
**”» rwta
2; . . — ... Ktti an fi.®Q.a»
1** . . *0 130.000 4 440 ODD
i sm. . ; . *.«s.<ro
lOSa.JJO 1.H5.0DI3 17.1 ?S
- — .
. »•*»«» ».?».** 2ESK-.S00
_
Itll
REPORT DIRECTOR OF MINT.
115
frok their Organization , bt Calendar Year*— Continued.
RECAPITULATION.
Sliver co in opr.
Trade
dollar*.
1304.791
72.930
7,770
327.536
423.515
230.930
54.454
41,650
06.004
19,570
321
Half dollars.
Suarter
ollara.
$161,572.00
. L 959. 00
15.144.50
14.945.00
15.857.50
78.259.50
106,801.00
419.788.00
525.788.00
G84, 300.00
702,905.00
638, 138.00
601.822.00
814.029.50
031.951.50
519,537.50
$1,473.50
63.00
Twenty
cents.
300
61.005
173,000
184,618
165,100
30.000
24.500
169,600
140,750
15.000
G2.600
47.500
1.300
1.100
46,110
33.140
26,000
63.500
94,000
038.500
733,930
78,500
12,090
27.660
31,170
47,000
49,625
00,325
182,700
424,300
23,575.00
607. 753. 50
980. 161.00
1.104.000.00
373.561.00
652,8(1 ~
779.786.50
847, 100.00
1,752.477 00
1.471. 583. 00
2,002.090.00
2, 746, 700 00
1.537,600.00
1.850,078.00
2. .182. 400. 00
2.936.830.00
2,398.500.00
2,003.000.00
3,200.002.00
2,678,003.00
3,273, 100.00
1.814,910.00
1,773.000.00
1.748,768.00
1,145,054.00
355,500.00
1,484,882.00
3,056,000.00
1,885.500.00
1,341.500.00
2,257.000.00
1,870, 000. 00
1,880.000.00
1.781.000.00
1,341.500.00
301,375.00
110.565.00
2,430.354.00
4.111,000.00
2,288.725.00
1,903.500.00
1,482,000.00
5,998,000.00
2,074,000.00
1,032.850.00
2,078,950.00
802,175.00
709,830.00
518. 785.00
593.450.00
899.812.50
810. 162.50
769, 100.00
725,950.00
1.684.50
30.348.50
51.531 00
55,160.75
17.308.00
5,000.73
90,293.50
36.000.00
31,861.00
54.212 75
16,020.00
4.450.00
42,000.00
1,000.00
25,500.00
99,500.00
80,000 00
39,000.00
71,500.00
488.000.00
118.000.00
63,100.00
30S.000.00
122.786.50
153,331.75
143,000.00
214,250.00
403 400.00
290,300 00
230.500.00
127.500 00
275,500.00
36,500.00
85,000.00
150,700.00
62,000.00
68,265.00
4,146,555.00
3,466,000 00
857,350.00
2,129,500.00
2,726,500.00
2,002.250.00
421.000.00
312,350.00
1,237,650 00
249,887.50
48.015.00
28.517.50
25,075.00
11.381.25
17.156.25
31.500.00
23. 150.00
$2,213.50
2,536.10
2,755.00
'2,‘i 76.00
3,464 00
1.097.50
3,304.00
826.50
12,078.00
Half dimes.
10,500.00
4.471.00
635.50
6,513.00
94.258.70
118,651.30
10.000.00
44,000.00
$4,320-80
511.50
2,230.35
1,200.00
L 60S. 50
650.50
1,892.50
780.00
51,000.00
121,500.0 0
12,500.00
77,000 00
51,000.00
77,135.00
52,250.00
48.500.00
63,500.00
141.000.00
119,000.00
104,200.00
239.493.40
229,638.70
253,358.00
363,000.00
390,750 00
m bosloo
7,250.00
198.500.00
3. 130.00
24.500.00
45, 150.00
113,900 00
244.150.00
142.650.00
196.550.00
,327,301.00
624. tK)0 00
207,500 00
703,000.00
712,000 00
189,000.00
97.000.00
78,700.00
209.650.00
102.830.00
17,196.00
2i. 907 'O
18,550.00
14.372.50
14.662.50
72.625.00
70,600.00
61.500.00
62,000.00
02, 135.00
48.250.00
68,500.00
74,000.00
138,000.00
95. 000. tt)
113,800 00
112,750.00
108,285.00
113,954.25
98,250.00
58,250.00
58.250.00
32,500.00
78,200.00
1,350.00
63.700.00
63.400.00
72,450.00
82.250.00
82,060.00
63.025.00
785.251.00
365.000.00
117.500.00
299,000.00
433,000.00
258,000.00
45.000.00
92,950.00
164.050.00
74,627.50
5,923.00
4,523 50
6. 675.00
6.536.25
6.431.25
18.295 00
21,930 00
Three
• cents.
$185,022.00
559,905.00
342,000.00
20. 130.00
4,170 00
43.740 00
31 260.00
48,120 00
10.950.00
8.610.00
14,940.00
10,906 50
643.80
14.10
255 00
681.75
138.75
123 00
153.00
5,053,440 95,509,284.50 21,727.878.00 . 8,376,184.10 4,529,818.90 1,281.762.90
116
REPOET DIRECTOR OF MINT.
No. 27.— Coinage of the Mints of the Cntted States
R EC A PIT CLATTOX— Continued.
Calendar yean.
1870.
1871 .
1872.
1 sn.
1874.
1875.
1876.
1877.
1875.
1879. .
1880.
1851.
1882. .
1583.
1884.
1885..
1886. .
1887.,
1888..
1888. .
1880..
1881..
1892..
1883..
1884..
1885..
1886..
1887..
Brought
1900..
1901..
1902..
1903..
1904..
1905..
1906..
1907..
1908..
Total .
Doable
$560. 502,480
22.819,480
20.456.740
21.230.600
55. 456.700
33.917.700
32,737.830
46,386.9®
43.504.700
45,916.500
28,888.260
17.749.1®
14,585.300
23,295.400
24.980.040
19.944.200
13.875.560
22.1®
5,662.4®
21.717.3®
16,995.1®
19.369, 080
25,881,340
19.238.760
27.178.3®
48.350.800
45.163.1®
43.931.760
57,070.2®
54,912,900
73.383.680
86.661.680
34,150.5®
35.087.580
24.826.560
227.619,440
37,440.2®
55.113.800
96,656.6®
108.263.200
58. 774.140
Eagle*
$54,819,680
164.430
254. G50
244.500
173,680
799,270
78,350
104.280
211.480
1.031.440
6.1®. 3®
21.715,100
48. 796.230
24.740.640
2.595.400
2,110.800
4,815,270
i m >.»
8,706.800
8,090.310
4.286.850
755.4®
1.956.000
9.637.400
». 132.450
26,032,780
7. 146.260
2.000.980
12.774.000
12, 857.970
21,403.5®
3,749,600
46.036,100
5,520. 1®
7,766.870
2.708,880
5.703.280
16,903.9®
26.838,7®
14.S13.360
5.987.5®
2,252.801.140 451.341.670
Half e
57.470.S80
143.550
245.000
275,350
754,605
208.5®
105,2®
61. 8®
182.660
1.427.470
3,777,155
22 S31.765
XL 458. 4®
17. 831.885
1,647.990
1 922. 250
9.065.(00
18.2S2.1®
9.560.435
1,560.9®
37.825
290.640
1,347 065
5.724.700
9,610,965
5.152^275
7,288.6®
1.072,315
6.100,415
10, 154.475
16.278,645
8,673,650
21,3®.®D
5.557,810
10.410.1®
2.445.6®
5 915.040
I W, Mi
7. 5®, 9®
6.149.4®
21.910,4®
Three
dollars.
n, 149. 123
10,605
3.9®
6,080
75
125,460
®
135
4,464
246,972
9.0®
3.106
1.6®
4.6®
2.8®
3.31S
2.7®
3,436
18.480
15,873
7,287
Quarter
3®, 113.685
325065.402.
51.387.®
68,37500
52,575.00
512.562.®
9, 850 00
».0® 00
23.052. 50
92.6®®
1.1®. 650 TO
331.225.®
7.4301®
l.TOa®
10.1®®
4.9®.®
4.9S2.®
2,217 »
10.230.®
15,705®
40.245.®
44.1®®
22.032.®
27.6®®
6,362. ®
75,365®
10.305®
15.297 ®
48,005®
74,7®®
60. 412. ®
68,375®
168,012.®
228,307 ®
334.332.®
503.142 »
402.4® ®
544. 8® W
441.225®
841.1®.®
1.412.642.®
1,104,747.®
Do Ban.
319,040.007
9.335
3.930
5 SO
125.125
IS* SO
43D
3,245
3.939
3 02)
1.06
7.660
5040
10,840
6.206
12.305
5016
8,50
15080
30.723
* 75000
• 175000
• 25.000
•35,000
_
1.619.376 34,928,645® 19.909.337
1 ifi,-®0 to Colombian coins.
Includes CXCa.o® In Columbian colas.
» Includes 310,0® In CohunWancolS^
REPORT DIRECTOR OF MINT.
117
FROM THEIR ORGANIZATION, BY CALENDAR YEARS— Continued.
RECAPITULATION— Continued.
Silver coinage.
31.225.1X0
4.910.000
6,279 *0
6,192,150
13. OflL». 710
4.239.900
1.511
1,987
960
1.097
97V
Dollars.
Jo.Offl.440
445.4 M
1.117.136
1,118.600
296,600
22.495.550
27.500.100
27.397.355
27.9t27.975
27.574. 100
28. 470. 039
28. 136.875
tN. 097. 767
! m,m
33,611.710
31.990.833
34.651.811
3S.OC.0O4
23.502.735
6,333,245
1.455,792
3.093.972
«2.880
19,876,762
12.651.731
14.426.735
15.1S2.846
<35.010.912
22.506.813
IS. 160.777
M^MB m
S, 812, 650
Half dollars.
305. 509. 2M. 50
S29.758.50
1,741.655.00
866,775 00
1.593.7SO.OO
1,406, <>50. 00
5, 117,750-00
7.451.57500
7, 540. 255 00
726.300-00
2.950.00
4.877.50
5.487 50
2.75a (U
4.519.50
2.637.50
3.065 00
2,943.00
2,855 00
6.416. 50
6,355 50
6,29500
100.30UOU
» 1,652.13550
1 4.002.896.00
3.667.SS1.00
2.354.652.00
1.507.855 00
2,023.315 50
3.0W.642.50
4.474.628.50
5.033.617.00
3,119.925 50
4.454.723 50
3.149.763.50
2. 331 . 654. 00
1.530.563.50
5 426.414.50
5825587.50
5S19.68U50
2,529,025 00
Quarter
dollars.
821.727,878.00
23,98500
53.255 50
08.763 50
414. 19R 50
215.97500
1.278,37500
" 889 m 88
6.024.927.50
849. moo
3,67500
3.738.75
3.243.75
4.07500
3.859.75
2. 218. 75
3.632.50
1.471.50
2.677.50
306.7CK25
3. 177. 75
20.147.50
1.551. 15a 00
2.960.331.00
•2,581,831.75
2.20.448.25
2. 255 39a 25
1.556.700. 25
2. 524. 44a 00
3.497.331.75
3. 994.211.30
3.S-LW4 25
2.644.369-25
4.617,589.00
3,551.51500
3,011.303.25
2.030,502.50
2.348.168.75
3,899. 143. 75
4.362, 13A 25
4,110,662.50
3265.596
5, 180
102
130
Twenty
cents.
S8A76.1S4.10
52. 15a 00
109.371.00
261.045.00
443,329- 10
319.151.70
2. 406.57a 00
3.015.115 00
1.735.051-00
187,88a 00
1.510 00
3,735 50
2,497.50
S9i.ua go
767. 571. »
393. 134.90
257.711.70
658.409.40
1,573.838.90
721.648.70
835 338. 90
1.133,461.70
2.304,671.60
1.695.365 50
759,219.30
54,529. SIS. 90
26.S30.00
S2.483.00
1S9.247.50
51,83a 00
Three
cents.
II. 281; 762. 90
13a 00
127.80
58-50
18.00
225,088.00
31S.581.80
l.*7.Sia80
2.015324-20
2.409.833.90
2.477,918.30
2,507.35a 00
2.795,077.70
2.829,405 50
1,540. 102. 70
2.480.754.90
2.976,504.60
3.453.704.50
5309.954.50
1.448.16500
578,353.848 185234,35550 96.029.472.75
39.6857-
747.60 4.880,219.40
1,282,067.30
« Includes 50.000 Lafayette souvenir dollars.
1 Louhiua Purchase Exrx
• Lewis and Clark F
118
REPORT DIRECTOR OF MINT.
No. 27. — Coinage op the Mints op the United States
RECAPITULATION— Ccotinued-
REPORT DIRECTOR OF MINT.
119
FROM THEIR ORGANIZATION, BY CALENDAR YEARS — Continued.
RECAPITULATION— Continued.
Minor coinage.
Total coinage.
fl0.GC0.33
9,747.00
8.975. 10
9.797 00
9.045 85
28,221.75
13.628. 37
34.351.00
24.713.53
7.508.38
9.411.10
3,480.00
7,272.21
11.090.00
2.228.67
14,585.00
2, 180. 25
10,755.00
4, 180. 00
3,578.30
28.209.8 2
39, 4H4. 00
31,070.00
20,710.00
44,075-50
3,890.00
20,723.39
12,620.00
14,611.00
15,174. 25
23,577. 32
22,600. 24
14,145.00
17,116.00
33,502.00
23,620.00
27.390.00
18,551.00
38,784.00
21,110.00
55,583.00
63,702.00
31,286.61
24,027.00
15,973.67
23,833.90
24,283.20
23,987.52
38.948 04
41,208.00
61,836 69
64,157.99
41,785.00
44,268.44
98,897.07
50.U30.94
06,411.31
42.361.56
15,748.29
20,904.63
177.834.56
246,000.00
364,000.00
205,060.00
101,000.00
280.750.00
498.400.00
529.737.14
354.292.86
98,265.00
08,210.00
102.065.00
64,200.00
4,080,677. 44
$712.67
577.40
535.24
GO. S3
1,057.65
71.83
489.50
5,276.56
4,072.32
1,780.00
2 380.00
2,000.00
5.772.86
1,075.00
315.70
31 A 00
1,170.00
3,030.00
2,435.00
11.00
770.00
600.00
705.00
1,990.00
199.32
199.06
738.30
648. 47
270.79
282.60
202.16
175.90
n, 485. 00
77,960.00
128,19a 00
205,610.00
213,285.00
317,760.00
422,570.00
423,310.00
258.377. 50
mlm n
170. 367. 50
324,505.00
437 , 495. 00
284.665.00
160,375.00
501,435.00
497.9tt5.00
290,435.00
477,140.00
77,270.00
3,175. 00
39,92a 11
242,940.00
258,615. 00
1,319,03a 00
180,325.00
88, 980. 00
72,425.00
93, moo
150,383.00
92.245.00
131,565.00
140, 145. 00
295.717.50
643, 105 00
714, 270. (W
798,435-00
978, 550. 00
3,954.270.00
2, 186.175.00
4,135.700.00
1,148, moo
1.809,765.00
1.376.847.50
1.675.482.50
1,091,857.50
1.829.407.50
8.108.797.50
6,427,670.00
3.756.447.50
4.034.177.50
20, 202, 325. 00
3.775.512.50
9,007,761.50
31.981.738.50
(>2.614, 49-2. .V)
66.846. 187. 50
39,377,909.00
25.915.962.50
20.387.968.00
36,S57.7C«8.50
32.214,040.00
22.938.413.50
14,780,570.00
23,473,654.00
83,395,530.00
20,875.997.60
22,445,482.00
20,081.415.00
28.295. 107.50
31,435,945.00
23.828,625.00
19.371.387.50
17.582.987.50
729,047,572.50
$370. 683. SO
77,118.50
14.550.45
330,291.00
423,515.00
224. 290. 00
74,758.00
58,343.00
87.118.00
100.340.50
149. 388. 50
471.319.00
597.448.75
(<84,300.00
707,376.00
638.773.50
608, 340. 00
814.029.50
620.951.50
561,687. 50
17.308.00
28 575.75
607.783.50
1,070, 454.50
1,140,000.00
501,680. 70
825,762.45
806.8Ui.50
895,550. 00
1.752,477.00
1,564,583.00
2,002,090.00
2,809, 200. 00
1 , 575, 600. 00
1,994,578.00
2, 495, 400. 00
3,175,600.00
2.579,000.00
2,759.000. 00
3.415,002.00
3,443,003.00
3,006, 100.00
2,096,010.00
2,333.243.40
2,209.778.20
1,726,703.00
1.132,750.00
2.332,750.00
3.834.750.00
2, 235. 550. 00
1,873,200.00
2.558.580.00
2.374.450.00
2,040,050.00
2. 114. 950. 00
1,966, 100.00
774,397.00
999, 410. 00
9,077.571.00
8,619,270.00
3,501,245.00
5,142,240.00
5. 478,760.00
8. 495, 370. 00
3.284,450.00
2, 250, 390. 00
3,783,740.00
1,252,516.50
800,267. 80
609,917.10
091,006.00
982.409.25
908.876.25
1,074,343.00
1.266,143.00
136,478,368.40
$11,373.00
10.324.40
9,510.34
9,797.00
9, 106. US
29.279.40
13,628.37
34,422.83
25,203.03
12,844.94
13.483.48
5,260.00
9.652.21
13,090.00
8.001.53
15,660.00
2.495.95
10. 755. 00
4, 18a 00
3,578.30
28,209.82
39, 484. 00
31,670.00
26,710.00
44.075.50
3,890.00
20,723.39
12,620. 00
14,926.00
16,344.25
23.577.32
25, 636. 24
16,580.00
17,115.00
33,603. GO
23,620.00
28,160.00
19,151.00
39.489.00
23,100.00
55.583.00
63,702.00
31,286.61
24.627.00
15,973.67
23.833.90
24,283.20
23.987.52
38,948-04
41.20S.00
61,836.69
64. 157.90
41.954.32
44,467.50
99,635.43
50,630.94
67,059. 78
42,638.35
16,030.79
27,106.78
178,010.46
246,000.00
364.000.00
205,660.00
101,000.00
280, 750. a)
408,400.00
926.687.14
968.552.80
1.042, 960. 00
1,819,910.00
1,697.15a 00
963,000.00
10,891.393.55
$453,541.80
lt>5,402.90
152.250.79
545,698.00
645,906.68
671,335. 40
510, 95a 37
516,075.83
370. 698. 53
371,827.94
333,239.48
801 , 084. 00
1,044,595.96
982.055.00
884.752.53
1.165.868.50
I, 108, 74a 95
1.115.219.50
1.102.271.50
642.535.80
20, 483. (JO
56,785.57
647,267.50
1,345,064.50
I, 425,325.00
1.864.786.20
1,018,977.45
915,509 89
967,975.00
1,858,297.00
1,735,894.00
2.110.679.25
3,024,342.32
1,741,381.24
2.306.875.50
3,155.620-00
3,923,473.60
3.401,055.00
3.765.710.00
7,388,423.00
5,668.667.00
7,764,900.00
3,299,898.00
4.206.710.40
3,617,912. 31
3.426.812.50
2.240,581.17
4.185.991.40
II, 967,830. 70
7,687,207.52
5.668.595.50
6,633,905 54
22,638.611.69
5,879,720. 49
II, 164. 695. 82
S3. 892. 3U.- 00
63,488.524.93
57.8Ui.22S.44
48.522.539.78
34,577,870.85
32.905.243.79
42,027,115.28
37,870.810.46
31.679.783.50
18. 429, 02a 00
25.93S.704.00
87.280.270.00
22. 109,264. 00
23.753. 149. 80
21.618,019.24
29.954,665.38
33.461.314.25
26.557.411.25
22. 142. 850. 50
19.812.130.50
876,417.334.45
120 REPORT DIRECTOR OF MINT.
No. 27. — Coinage op the Mints op the United States
BEPOBT DIRECTOR OP MINT.
123
8tock <* «oW silver coin mod bullion in the country on Decern-
b €T 31, 1809. ^
G«M ec±3fa t±* ho£j of rwhw n] wmMwwu
lm**~ — . . . MuSs
Gold oote in backs. .
There is do official estimate of the amount in circulation
Themmount of silver coin held by the receiver general on December 31, 1808,
7. Amount of Government and bank notes outstanding at the end of the rear 1809:
- 0,12^32
. . 7 500.000
. . AKtM
b. Gold b not mi a premium, a* compared with the actual currency of the country.
fTbe Dominion of Canada comprises the Provinces of Alberta, British Columbia,
Manitoba, New Brunswick, Non Scotia, Ontario, Prince Edward Island, Quebec,
and Saskatchewan, and the Yukon and Northwest Territory. The monev of the
Dominion consist* of British and United States gold coin: Dominion and bank notes,
and a Dominion issue of subsidiary coin):
The weights, fineness, etc., of the subsidiary coins of Canada are as follows:
9. Laws passed in 1909 affecting the currency: None.
10. The report on the operations of this mint is included in the general annual
report of the London mint.
11 (a). Import and export of gold during the calendar year 1909:
"lBd; . . . »5*«r.43 .
. . . I2,2;»,^S
. - . ■*•««
11 (b). Import and export of silver during 1909: None.
_ 1 Cl^pier 27 of R*rfatd SUTutes of 1**. Twwtfy-ftvB perae
lo be beid in specie end cuannisod debexmir®, daUsr fcr
it of line JX 000.000 of Domtafce i
124
REPOBT DIB EC TOE OP MINT.
Thb Note Iisces or Canada with Thki r Bearing on the Proposed I&sce of
Commonwealth Notes.
By Thomas Chcrcs.
ITroni The Austntetsn Insurance ud Banking Record, Melbourne end Sydney, March 21, wm]
[Author s note. The following notes on Canadian note iaroes are offered as a
recital of ncte, collected on a tour through Canada, by reference to Canadian .statutes,
and authorities, bankers and economists, and my own observations.]
*
The question of currency is one that has special interest to Australian bankers at
k Jf of li?e atu?mPl bv the Federal Government to introduce
a bdl for the abolition or curtailment of bank i*ues of notea and to substitute in lieu
thereof (ommon wealth notes to a practically unlimited amount. Much is heard
through the pro* and from the man in the street of the blessings of paper monev
Sections of our people— and large sections, too— oreK'ribe it a*
LUO prw* ana irom me man in the street of the blessings of p _
Sections of our people-and large sections, too— prwcribe it as panacea forbad tima.
wint out that it has only to be adopted and it will mate cheap monev and
Government, wive >n el »«T»r* «n#4 k _ : _ _ _ .»• ’ _ .-,1
They point c-w — . *v —J •« •uvptw uu 1 win mase cneap money, and
with a Government, give an elastic and easy means of borrowing money that will
W® ^ impressed upon it is always good,
XiS? A A 'gPZ. *?y of *U doubts about its virtu? w
and the L ruled State* are held up a< examples of prosperous
countries that have enjoyed the blowings of gooil times and great expansion inrome
^KI °* ^P* *27 • ** American StaSare cited it “ difficult
to understand. There is no probfem at the present time in the United States of
America that presents greater difficulties to its ministers than its maze and tangle of
currency and hanking methods, and much of this is the outcome of its experiments
with paper .money. ^ 1 1 w equally difficult to understand why Canada’s prosperity
make any Vu h claim*11 ** 1D duo to currrac>’- The Canadians certainly < ^Tnot
°r£ar,?° *** at l^e truth regarding japer money, it b well to consider what is
leant by paper money. One idea — the idea of the casual citizen — is that the
overn men t should pnnt notes of different denomin*tif>n« i
7?-“* iaea — tne idea of the casual citizen— is that th<
Govemmentshouki pnnt notes of different denominations and inue them to any ex-
* le^ U*M}^ by law, and use the proceed* of the issue in Govern¬
ment undertalrings. It would be quite safe— they say— the Goyemment would get
Uae U f^ State punx***, and as the notes could not be refused in
commercial transactions, there would be no danger. Bv these means the hmre sum*
won(l J1>!^Eg»lnKth!llTk5 W°uld be idle (for the reason that thev
CSiSERi0 *"! <* m.«b of it. to the Tnmuy in exchange torn otesc
*oud b« used in building railways and developing the country Little is said
^ thev^re pro-
S£S£W^W5SrKSS.>saH SS
a Go\ eminent to pay, and not providing the means of payment when need oriss
ia S^dC dT?n^l“ alalion-paper pamins for money.” and that definition
“r,r ‘*i* I-
^g^a®£^£^SswnB
approximate in any wavto thrae™ *4 let <■» «w if our condition*
in another VZ wilteS it 'CmSf' h f*** ■**>' be bad
and
role. . cases oejond it. Gold u aeldom or never eeen. Paper money is the
ggporr dtoctc* nr mist.
125
Fa, tie i
* ik _ _ # ,
MBpr free of base* ibat ar veld bercaae a peaunt Ua to ties i~ a tie
Tiat * tie cciy wpect fn» wixi tiey wnw carry ary. Oar Federal
p crop to eexr kq-e Stator’ i»WK«k«, ^ it &Arsh to b«*w
braarofMiiea^iUceapu^iL Tkrjr km arewfartr
i to tie krre baktoes o i paMie fdd and desire to we ne d
e el tbeir ca* rerrew y is lie i n d Federal ante*.
“» fdkwed in La#S Tbe
U tier k~ aikj xik*nar tie neee
■Mti-It to to tie :*aie WBOOW to
»Ui to iwwe mourn at all w dealt anti is
pr»,todhe
~To '
■ kr Bear* cl cirr-acy or ibesr
• ‘Caaadwm Bapito:
r^^TtiTsuie to
pwiape. l ~t aSoeiral, 1
Mderpur r:tk scatsen
mltonR d rcjeniac
_ _ _ pcbbr aad ia tie ctmA
niitoimkr tin VL7,! - j>.^..«.»torfrwkthrtto
Fra aa -i - - pent d riew a Operator* ka> m» were n&t to we <
r leaa poruw* tku it ito tie hade of arap banks for tie —a ^
vrrtikie idwtwy c tar-ary * a p»ceto.l |
Mdduroto. Tie irae expJanati^ oTStotoTWl
awitietotoed bank tie
*W
red tore ree-wrcee Ttari. ar*- ♦»
nrkl to care is trearay *'/<rk oc
Tie State hae j* taeiLod- fcr
■ne of Mock ud nears?} idle
it eoee watoide tie tarreary or tie ftoihr I
d pobbr trodUe Tie eariy iktcry d
mtoetxiraML Tc afto» qw*e fw*
“H a
r kid dew* fcr xL Fixed 1
lafadketopwarid
rw wtoy, it » lie t*
• arr.^ * - - i
. ka>ir. it toty by tie exerewe d
Tfci- pnr^ally > tL*.’ n-anr Eu- >a'
* Mrtaan* pobry may »e-!l aesxi rwefcLy ^ J
i arid tie
. id^Ddaiya wteci k m hkOr to **«*
aad Mt anti ikiagf ae they c^ittobe JwrT » tiaf it <
«£: sssn^sssrs -1? Es^yg5k—.~
to»tai ««« It tat -« ta
r. copper. aadpaper. Gdd
*J fartod ckaafe Mey;
3 ns £ SttsXS!£t
ssstssrsl^^ - *» - «• ^ — **“
idd an a mms. is acid ec sai to mt -
It it area at oareti at Canada’- ry<*m ci pi^er i
T** y M take the d iknrcir^ra^
•^wtt liat tia Gcirera»£t
P^d vki tie total tone, bat ruC a Urre ct f **W
. bared o.edd
4
126
REPORT DIRECTOR OF MINT.
average total amount of notes in circulation usually fluctuates from 60,000,000 to
63,000,000 dollars. This amount is made up by the following totals of the respective
notes taken from the returns for Juno last:
Fractional notes, 25 cents.
$1 and 12 .
$50 and $100. .
$500 and $1,000.
•5,000 .
105.000
C, 801,000
40,875.000
Of these the firet two items, fractional and 1 and 2 dollar notes, are “change” notes
and are not likely to be ever presented for exchange into gold. The larger notes are
usually in the hands of banks, while the $5,000 notes are issued to banks only for use
in the clearing-house system as exchange vouchers. Against this amount of $63,000,000
(round figures) the Government holds gold to the value of $45,259,000 and guaranteed
Bterling debentures of $1,946,000, or a total of $47,200,000, leaving a shortage of
$15,800,000, or, roughly, 3,000,000 sterling, which they employ from the total opera¬
tions oi their note currency as a free loan from the public.
These figures require some explanation. Their statute authorizes the use of
$22,500,000 without any reserve in gold being held. They employ only $15,800,000,
as shown by the foregoing statement. Their total circulation is $63,000,000, but of
of this nearly $41,000,000 is in clearing-house certificates, which can not, strictly
speaking, be termed circulation, as explained later, so that the balance, $22,000,000,
is true currency and liable to the 25 per cent reserve in gold, which, when deducted,
leaves Canada with an authorized issue free of the total figures, roughly, $17,250,000
Of this authorization they employ the amount stated, viz, $15,800,000, so that they
have a balance yet to employ of $1,450,000 when the public need it.
The cost of managing and operating this note system is not ascertainable, for the
reason that services in connection with it are bound up with the treasury charges
generally, and they have never been separated.
It is unlikely that any embarrassment could be caused the Government by sudden
demand for redemption of the notes in gold, for the reason that the total shortage in
only as stated, about 3,000,000 sterling, and the “change notes” which equal the j
shortage, would never bo presented, being too small in amount and too widely
distributed.
From the foregoing it will be seen that Canada's system is in reality' a gold system,
as any sound system of currency must be; the only difference as between the Gov- i
emment and the banks and our Australian system’ is that in one case the Treasury
holds the gold, and the Dominion notes are circulated as counters for it, and the banka
hold gold and Dominion notes as reserves, while in Australia practically gold only is
held by the banks for circulation and reserves.
We have seen that the use of currency by means of State notes has furnished Canada
with a free loan of, roughly, 3,000,000 sterling, and this after their system has been in
force for over 40 years. It is interesting now to turn to the early’ history’ of their
expenmen ts in raising money by issue of paper. First, it must be borne in mind that
Canada, from its earliest times, never knew anything of gold circulation; it has always
REPORT DIRECTOR OF MINT.
127
from it. Wo have two important differences to bear in mind in regard to any compari¬
son with Canadian experiences: *
1. We have a circulation almost wholly gold, while Canada has always had paper
2. We have never known notes for value less than 20 shillings, while Canada hasthom
from 25 cents up.
In order to get a circulation the Government would need to use banking channels
If their notes are to replace the bank issues, then the banks would need to call theirs
in. This would mean that the loan they employ from the public through their note
issues would have to bo repaid by them in gold. Banks, in order to do this would
have to call in their advances to an equivalent amount and suspend all fresh advances
for an indefinite period. In order to arrive at some estimate of the amount of paper
the public would absorb, it would be necessary to ascertain as nearly as iKjesible tho
total amount of bank notes and metallic currency in circulation, for any issue of Gov¬
ernment notes means that gold would be withdrawn and handed over to-the Treasury
in exchange for their notes.
It is impossible to say what the exact effects of so radical an economic change would
be, but it is certain that there must be dislocation of trade and public method, for the
reason that our people would need education to the general use of paper, and as no
Government can cancel any citizen’s right of redemption in gold, any change must
be gradual. To attempt to force notes into circulation would cause want of confidence
in currency method, and want of confidence is the forerunner of nanic. Assuming a
system somewhat on the Canadian lines were adopted, viz, tho Government to have
the right to issue, roughly, 4,750,000 free, and any balance beyond that to be secured
by pound for pound in gold, how long would it take our circulation to absorb that
sum? Probably years. Canada has taken 40 years to get three millions from tho
people, and can not get more, and the problem of increasing it is one that her states¬
men are considering but can not solve unlcsB by compelling banks to call in advances
in order to absorb more notes. From the figures quoted of Canada's circulation it
must bo kept in mind that of the sixty-odd millions, forty represent gold clearing¬
house certificates for the bank clearing house, and this is obviously kept intact in
gold; the balance is the circulation, and it does not produce enough to give Canada
her limit of 4,750,000 she is empowered to employ free through her act.
To sum up the position as regards the proposals of Australian advocates of a Govern¬
ment currency, they require a free loan, and they propose to disguise it under cover
of currency legislation. To gain their end by means oi currency they would have to
start gradually in proper season when money is easy, and patiently educate people
to the use of paper, cooperate with tho banks to encourage its use and allow tunc to
work a gradual achievement. To suddenly prohibit future bank issues or call m
§ resent ones and let loose their own Federal notes would be equivalent to a sudden
emand for an urgent forced loan, a consequent stoppage of bank advances, a calling
in of existing ones to make room for the new demand, and general dislocation of
business. ,
A fact that is real and plain is that no community will absorb more currency than it
needs, and any attempt to ignore that in practice must end in disaster.
A strong feature in Canadian currency and banking legislation is that its financiers
cooperate with their banking leaders in conference and discussion in tneir
acts with mutual benefit, there is abundant reason why the Commonwealth should
do the same.
MEXICO.
Answers to interrogatories , 1909.
1. Amount of gold and silver coiuage during the calendar year 1909.
SILVER.
Denominations.
Number of
pieces.
Value.
Pesos . . . . 1
2,934,000
2, 020, 000
' J2, 111,671. SO
1 1,074,428. 20
3, 186, 000. 00
i New coinage.
t Kooolnoge.
128
REPORT DIRECTOR OF MINT.
2 (a). No coinage was executed at the mint of Mexico for other Governments during
1909.
2 ( b ). Coinage executed at the mint of Birmingham for Mexicar Government during
1909: Nickel coins of 5 cents, 2.051,000 nieces; value. $102,580.
3. Fine gold and silver used in the inaustrial arts during 1909: There is no data.
4. United States gold coin imported, and dept Kited at mint and melted during
1909 The customs list of duties fori mnartation, from which we compiled the statistical
information, comprises together in only one part the “foreign gold and silver coins,”
consequently it is impossible to estimate the value of the coins of either metal, or the
countries to which they belong. The mint of Mexico did uol melt any United States
gold coins during 1909.
6. Gold and silver produced from mines of the country during the calendar year 1909:
Ctaolflcatlana
KUognuus.
Value.
Gold tram deep mines and planer minlnr . . .
3S.g7S.S09
2.2»,aJUl.V3
»47.»4,Q11«
rft.M5.93S.!®
SUrer (ram drj or alir«ou5 orw, land and copper arw .
6 Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31. 1909:
Character of stock
lu public
lroa*urt<&
In hanks.
GaWaOn . .. . ~ .
Sllrer rain. .. ...
tll.Sl4,73ant
21ft. Slum ;
aa,ari.43aoo
XJ.OsJOft*
Total . . . ... . . 12,042. 341. 70 W\,089.:5ft»
7. Rank notes outstanding at the etui of the year 1909: Notes of banks of isme,
$101,460,121.
8. There is no premium on gold.
9. Laws paasMl during 1909 affecting the coinage, currency, or banking: A copy
of the order of December 27, 1909, bar changing the design of the silver coins of $1
inclosed herewith
10. The miut report for the fiscal year 1908-9 will be scut to you as soon as it is
printed
11 («). Import and export of gold, (6) import and export of silver during the calen¬
dar year 1909:
GOLD.
, ' & J£2SS5 ‘If *nd value* of the cold and silver Imported Into the cwintrr.
u!S! 1Sj?uu;^' sssss? du,te ** ,wp
BJfcPorr MBECTOft or mixt.
129
Orm or the SuctmiT Ftatx. Ttu*nrr, avd JVauc Ciemi,
I>ceastye»t or (user i» Coima.
1* empbanre vitb (be ofd^r in article § W the U» of MaHi R. 19(16. whiefc #*ub*
bAM the tnonetarT ryttefn of the l/nited Hater of Uniro. *nd wu* the aatbori-
*•*»* coaoMed to him by artirle 2 of the lav of Sweater • of the aune y«r. tbe
ftwdent of tbe Repo Mir hat tbo-jfbt it well to deride that, witeet aoy Modifi¬
er**® ia tbe veirfct ftaeoe*, or duseier to chas«e tbe denca of tbe nlaer row
flf I pew, to tbe ecd that ia rirrulatin* three kv pier** they will ronMxtoie c*e
•* tbe oMBWBWjratiorA* of tbe reatennatl of tbe national independence.
Tbe peso will bare tbe MV/vinr leread*. derinee. and repaint**
Ou tbe abreo tbe mat of arm* of tbe reentry: ia tbe upper pert rerrawadiag
the eade will be read Eladr* Lnidoe Mexv-anoe- (T ailed Hater of Menro);
tbe lover part, ia a horizontal line, the valoe of tbe rota vdJ be raraped.
On the Eft of the mall viand vhirh viptretr tbe cartas plant tbe
and «■ tbe ri*fct tbe wed Mpra»* 6Wl*r wiD be placed Tbe bord*r vill
RpiW'ut a chain nrm ptand of J7 of Inc c links vitb a fe*v o(h*v clarpe
Oa tbe rerene. tbe prinriwJ firrire vill be that of Ubertv,
* spoiled rhaiver, wearm* a Phryrian rap. vitb (k*rt« hav and lkop- rarb, cmtt-
m hir left hard a lon-h. ar.d in hir rirbt a branch of oak: tbe bridle ma
bath. and tbe left front Hr and the r*ht bind Hrof thehoewraie trradme ^naj“£
r»v Wnp of earth, bark of vhHb ir tbe ran, whose nrm, pomh^nry U *pp«» wj»
• bar to tbe rvrwmirr^ of the ^in la tH l«vw part “•***i"5
pr of owur. The border is like tbe obverv\ vtfh bat S5 liaka. as
?b* bmre of Libert r obstruct* tbe rbaia TH herder will have in bavrriW tbe
■vriptirc ‘ Indepe&denria r libertad ** (Independence and liberty
December 27, 1W
Copied from the anpotl Mexico, Jane 1 1, 1910
IjMAJTfOtX
WaKEsoniu, Tk* IrtnOar.
^Jted by tbe iame of a
flwt denyn, wbirh
A New Mexjca* Ibnaaa.
(Two U» Beim UfMia* Ser Verk, May, 0*4
vhirh ormn this verr, vill be rommeia-
I Ifwicwwjriii »- Jwn occur* IHK ' ''■J u .
rtTn^Ttb* «i«r p~. .b« h -ill I^J-Wy
»jafcg5sL"
J&IXwiU *pp~r , Imn- M Ul-rtv mr-unwl
« *3S:*wi light, W -»p-T.
TUP*— U - 9
180
REPORT DIRECTOR OF MINT,
holding * torch in her right hand. Her left hand will hold a branch of laurel. Thi
left foot of the charger will ho raised, and also the right rear foot. Ho will stand upon
a narrow strip of land, behind which will appear a rising sun. Around the edge*
will appear tho inscription, “ Independence y liberted.”
[Translation.!
Demonetisation or Mexican Coins.
[From L'&conomkte EurojVeo, Parts. Jut; S, 19104
Tho following decree, dated May >4. 1910, published in the Diario Otioial, has de¬
cided the demonetization of various Mexican silver and copper coins:
“ Article 1. Tho copper centavos of a date urior to March 95, 1905, known by the
name of ‘’centavo grande M (large centavo), and the silver coin of 5 centa\*os, prior to
the same date, are demonetised.
“Art. 2. All these coins now in circulation will have lawful currency only up
to December 31 next.
“Art S. These coins will be exchanged at parity and in amounts to l>e deter¬
mined by interested parties being in charge id the following office*: The commis¬
sion of exchanges and coins; the chiefs of the finances; tho marine and frontier cus¬
toms; and tho principal administrative and subordinate offices of the stamp office
“Tho public administrations of the confederation will positively refrain immedi¬
ately from putting in circulation the coins named in this decree.’'
COSTA RICA.
Answer* to intrrrogatorits. t9i&.
1. Gold and silver coined or recoined during calendar year 1909: None.
2. (a) Coinage executed for other Governments during the year 1999: None. (4)
Coinage executed at foreign mints for Costa Rica during the year 1909: None.
3. Fine gold and fine silver used in industrial arts during the year 1909: No data
obtainable, but quantity is so small that it may l>e disreganied.
4. United States gold coin imported or deposited at mint and meJted during the
year 1909: None, as far as known.
5. Gold and silver produced from mines of the country’ and colonies of the country
during the voar 1909:
CV9ow*
OoKl from d«*p mines (domestic production) . . . . . 1/ilAA*
Sllvrr from dry or sitlcixms ores (domestic production) . . 4*1. r«2
(The mining companies in Costa Rica do not separate gold from silver bullion in
their output. When the quantity of silver excocas 50 per cent in the bullion it w
exported as silver product. The output of tho rainw is steadily increasing and prop¬
erties are being extensively developed. The ores are worked by tho cyanide pi\xw-
The capital in tho mines is mostly American )
fi Approximate stock of gold ami silver coin and bullion in the country ou Decem¬
ber 31, 1909: Stock in public treasuries not known, but inconsiderable.
Slock In hanks, Oosta Rica cold coin
Slock In banks, foreign cold coin . .
Slock In banks, silver win _
Total . . .
Stock in circulation uncertain, owing to export during tho veer.
7. Amount of Government and bank notes outstanding at the end of the vear 1900
Government legal-tender silver holdings, 723,0tX> colours (tamo amouni 723. i**1
cents -Costa Rica silver was ou deposit m Rank of Costa Rica as socurit\ for silver
circulation)
Banks of Issue: Colon**
Not«a outstanding. . . . . 9 «*
uoid holding*. . $53? *
1 8 PtJJMum on goldi Gold and the local currency have the same value, fixtnl by
law at 40.5 gold for 1 colon— 215 par of exchange, except for small fluctuations de¬
pending upon demand for foreign exchange
Freuaum during 1909: Ilightwt, 216*; lowest, 213*; average, 215*.
REPORT DIRECTOR OP M.IXT.
131
When the coffee crop is going out, exchange drupe to minimum stated othenrw
foreign exchange approximates 215 closely. ’
9. Lm pas*d during the year 1909. affecting currency or banking: Decreasing
metallic reserve to 40 per cent of circulation: A recent law makes the obligatory
metallic bank reserve against notes in circulation 40 per cent; it was formerly 50 per
cent; but the three banks of issue have not availed thereof to date. ^
10. Coeta Rica has at present no mint and no report is made by a department of
mines, which does not exist.
Finance.
[From BoDriin of the International Burma of tin America Rcpabtics, July, l*t&]
Money' in circulation for the year was estimated by the President at 6.275,000
colon ee. of values as follows:
Foreign sold . .
, National cc'. 1
Saver sod site*
I. M
. 2. (DU. 000
575.000
t.ooaooo
Tsui . . .
Lem po*d reserve held by banks ms fuanateed by a
‘The colon has a Tatar of sty cents United States ru*d-
<?OM MERCK
Gold and silver bullion was exported during the year 1909 to the amount of $792,847.
GUATEMALA.
Answers to inlerrogatana. 1909.
1 and 2. Amount of gold and silver coined and recoined, and coinage executed for,
or by other Governments, during the calendar year 1909: None. v
3 *«**• o' StTJXZ Sfi
3. Weight of fine cold and fine silver used in the industrial artsdunng law. *c
4. ToUU import of United States gold coin and amount deputed and melted*
mints during the year 1909: United Fruit Co., and Northern Railroad, $L40.000,
1_ ihsi -uTi v JlZLs ... uw I n<t ips Further statistics UDobtamal
the
for
_ _ ixiicvi * W| _ _ .xonucm
it uS^'bTlkT^rad to Wet lndi«. Further mMc.
5. Weight and value of eold and rilver peduved from mines of the rountp duni«
- - - fproduced, but it is impossible to obtain correct mformaUoo
o. »x cigar ana value
the year 1909: There is g _ , _
**6° Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909: . .. . ...
Character of stock: Gold coin, gold bullion, rilver coin, silver bullion.
In public treasuries: Unknown; statistics unobtainable. kniHnn-
In tanks: Bankers’ estimates vary from $16,000 to $-50,000. gold win and bullion,
£567.000 to $500,000. silver coin and bullion. ^ nr*ft>r rmn- in interior
In circulation: Impossible to say'; on Atlantic coast nati p •
only Guatemala paper bills are current. . , the year 1909
7- Amount of Government and bank notes outstanding at the end ot tbe year iwv
132
REPORT DIRECTOR OP MINT.
8. Premium on gold during the year 1909: Highest premium, pesos, 18.50 for $1
gold (United States currency); lowest. premium, pesos, 16 for $1 gold (United States
currency); average premium, pesos, 17.25 for $1 gold (United States currency). Actual
currency of the country, paper money.
9. Laws passed during the year 1909 affecting the coinage, currency, of banking:
None.
10. Report published on operations of the mint during the year 1909: None.
*******
HONDURAS.
Answers to interrogatories , 1909.
1. Amount of gold and silver coined during the calendar year 1909: None.
2. No coinage was executed for other Governments, or by other Governments for
Honduras during 1909.
3. Estimated weight of gold and silver used in the industrial arts during 1909:
Gold, 4,000 ounces; silver, 36,000 ounces (estimated).
4. Total import of United States gold coin during 1909: No data. Amount of
United States gold coin melted at mints: None.
5. Gold ami silver produced from mines of the country during 1909: No data.
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909:
Pesos.
Silver coin in banks.. . . . 138,214.51
Silver coin in circulaUon . ' . . . . . . . . . . . . . 2,000,000.00
7. Amount of bank notes outstanding at the end of the year 1909: Iwued by banks
of issue, 428,450 pesos.
8. Premium on gold during 1909: Highest, 175 per cent; lowest, 165 per cent;
average, 169 per cent. Actual currency of the country is silver.
9. No laws were passed during 1909 affecting the currency.
10. There is no report published on the operations of the mint or of the Department
of Mines.
11. (a) Import and export of gold during 1909: Export— Gold bullion to Germany
valued at 4,146.25 pesos.
11. (6) Import and export of silver during 1909:
Classification and country.
Imports.
Exports.
Silver coin:
Nicaragua . .
United Stftt^s . . . . ...
Pesos.
10,837.50
Pesos.
2,250.00
04,212-52
Total .
10. 837. 50
96,462-62
Silver bullion:
United States .
G, 921-08
Total .
937.50
Cyanide precipitates:
United States .
England . .
491,261 0
8,8?7.»
93-75
Total .
300,183.®
United States value of peso, $0,375.
REPORT DIRECTOR OP MINT.
Coining Money in Honduras.
133
By Consul Arminius T. Haeberle, Tegucigalpa.
[Taken from Daily Consular and Trade Reports, October 8, 1910.]
On February 16, 1910, the mint of Honduras was opened after having been closed
two years, owing to the fact that most of the silver in bars is exported to other countries.
At present ( August, 1910) the Government is coining some silver, but chiefly copper
corns, to replace the amount which disappeared from circulation. According to
information received, copper was formerly bought at 1.50 pesos per pound (about 55
cents gold), while 1 * pesos worth of copper coins weighed 1 pound 6 ounces In other
words, if one bought coins to equal the value of 1 pound of copper, there was a gain
of 6 ounces in actual weight. As a re?.ult copper coins begin to disappear from circula¬
tion. The Government has now gathered about 84, (XK) copper coins and expects
to com new ones to the amount of 1,000,000. By decree No. 08 in the official
P™1 cation, Le Gaceta .of March 4, 1910, 2-cent pieces were to be coined in
addition to the 1-cent piece. These were to weigh 4 25 grams, tolerance being 5
centigrams, the diameter 19.5 millimeters, and 235 coins to each kilo, or 2.2 pounds.
The 1-cent pieces were to weigh 2.12 § grams, or one-half of their former weight, toler¬
ance being 5 centigrams, diameter 15 millimeters, and 470 coins to each kilo. This
was later changed, so that the actual weight of the 2-cent piece is 3.5 grams and of the
1-cent piece 1.9 grams.
The machinery at the mint dates to the time of President Marco Soto, 1877-1883,
and consists of 3 presses, 3 rollers, 2 machines for cutting of coin, 1 for milling, and 1
for drying coin. With the present equipment about 20,000 can be turned out daily,
although at an average only about 400 pesos worth are made in one week, the making
of which costs about 200 pesos.
The mint is equipped with a cupola furnace for melting large quantities of silver,
about 100 pounds at a time, one melting furnace which provides for crucibles of about
150 pounds capacity, apparatus for parting gold and silver, and a charcoal assaying
furnace. Of the various coins 4,901 pesos worth were coined during March to June,
inclusive.
Monetary System of Honduras.
[From Weekly Consular and Trade RejxMts, March 5, 1910.J
COMMISSION RECOMMENDS ADOPTION OF OOLD STANDARD.
Consul Samuel MacClintock, of Puerto Cortes, explains the conditions which
obtain in connection with the circulating medium of Honduras-
Honduras and Salvador are on a silver basis, while Nicaragua and Guatemala have a
mixed silver-paper system. As their paper is not convertible it results that they
have in circulation only fractional silver coins. Costa Rica is solidly on a gold basis
mid experience none of the disadvantages of fluctuations in the price of silver and
exchange.
Previous to 1879 a mint had been established at Tegucigalpa, the capital, which
coined Borne silver and copper, but apparently without any systematic plan or relation
to the demands of business. In order to supply the demand for small silver the current
pieces were cut in half, as far back as 1649, and these media constituted the circulation
hhtil 1774,- when a mint was established in Guatemala. Even after that cut monev
seems to have continued in circulation as long as the Spaniards were in control of the
country, and is even occasionally met with to-day in remote parts of the country
Prom 1859 to 1878 the mint was closed . In 1869 the Government decreed the coinage
Of nickel nn A aan» tn umrV At first these coins circulated at
n „ T . — -
•tfy, Peru
,_nu silver
mixture of
rrom 1859 to 1878 the mint was closed. In 1869 the Government decreed me coinage
of nickel and rent to France for the work . At first there coins circulated at their par
value, then gradually depreciated until the people refused to take them at any \ alua-
tu>n. With the disappearance of nickel, the (fiver of other countries, chiefly, Peru
money was in circ
®lver and copper
Establishment of the present system.
The first actual monetary system established in Honduras dates from 1879 and
»a« confirmed by executive decree of September, 1808. H made the it ,hcrrfore
£“°> or dollar of 100 centavos, 25 grams in weight and j'.,*
ai AaS were alao decreed^ The
of 0.835 fine, and the fractional coins of Nicaragua and all the mone>s oi oaiMuiur
134
REPORT DIRECTOR OF MINT.
are also accepted. Gold coins were also made legal lender in the system of 1S79. and
20, 10. and 1 peso denominations have been minted.
Not much money has ever been coined in Honduras, owing to the fact that it was
more profitable to export silver and receive value in gold, and also to the additional
fact that there has been lacking the knowledge and appliances to separate scientific¬
ally the silver and gold.
between 1S79 and 1902 silver to the value of 94S.690 pesos was coined; gold to the
value of 1,421 pesos, and copper to the value of S2.404 pesos.
It is difficult to estimate the amount of money in actual circulation at present in
Honduras and Salvador. Of gold there is practically none. Gold, as a metal, forms
a considerable export . Of the national silver there is little in circulation and none
being coined. It has practically all been driven out by the cheaper mon£y from
other countries, for the Honduranian peso contains a slight admixture of gold, which
makes it profitable to export. Copper coins are also very scarce, so much so that on
the north coast some commercial houses issue brass checks, which are generally
accepted under their guaranty of redemption. The scarcity of small money greatly
embarrasses transactions of minor value, and in remote places various small articles,
such as candles, tobacco, matches, and even safety pins are used to facilitate exchange.
HONDURAS EA S' MONET IN ADJOINING COUNTRIES.
The national money, being 0.900 fine, is readily accepted in the neighboring
Republics at a premium of at least 5 to 1 as compared' with the paper monev of Guate¬
mala, and 3 to 1 compared with that of Nicaragua, and it exchanges writh the colon of
Costa Rica according to its bullion value in the New York market.
The silver of Guatemala and Salvador, in the denominations of 1 peso, and 50 and
25 centavos, circulates in greater quantities than the national money and is accepted
at its face value. The Guatemalan 124 and 6f silver pieces. 0.S35 fine, also circulate,
but are not accepted by the bank or t>v the people generally. The Nicaraguan 20.
10, and 5 centavo silver pieces are found all over the Republic, displacing the national
money of the same denominations. In the southern part of the Republic this frac¬
tional silver of Nicaragua excludes that of the other Central American States. In the
interior this Nicaraguan money is often subject to a discount and on the north coast is
not received at all.
The Government of Honduras issues no paper money and the bills of the Bank of
Honduras do not circulate very freely. The people at a distance from the bank avoid
their use. Thus the bills of the bank in Tegucigalpa are subject to a discount on the
north coast unless they are especially stamped, and for thus stamping its own bilb the
bank charges the customer.
GOLD STANDARD FOR ALL CENTRAL AMERICA.
A commission appointed to report upon the monetary system of Honduras to the
■‘^mor,can Conference made the following recommendations:
1. That the gold standard be adopted as soon as possible, as it will facilitate com¬
merce, both domestic and foreign, and make less noticeable the fluctuations in the
rate of exchanjje.
- Ip case it should be impossible to get the five Republics to agree to establish
the gold standard, there should be established as one of the means to secure that
desirable end{ a unity in the coinage of the silver dollars of all of the Central American
Republics, with the stamp of the old Republic of Central America, using the Mexican
» ‘th regard to weight, fineness, and other condition*, and neither
COf?<In$£<> recenan§ silver dollars of anv other class
tw5ach of,tht ?ut?3 at liberty to coin fractional monev, at least the
^er ^ni^n,whhh>.ltf 1?ternal trade demand*, with the weight fineness. and
S^ nStyof ^ehi^ i" * convenient, the other State* being exempt &»■»
never to’fntl^Jtf.^T^' “ a fixod P?“‘ in l,u> monetary svytern of Central America.
d£^d to accept^ i nanv M ^ *"• — r
American,? <J>“Yen‘ion entered into between the Republics, of Central
re™ renceto gold . ^Un-American States to fix the value of efiver of each with
REPORT DIRECTOR OF MINT.
135
UNIFORM 8Y8TEM PROPOSED.
an/ail^r doS at parity * m°Detary eyS'em in °Cntral b. .he gold
“2. The Central American Conference of 1910 shall fix the date when the resnoetivn
Governmentfl shall proceed to change their respective monetary svstoms 1
3. No foreign silver money shall be legal tender in Central America after the date
^4 fchT v the Gore"1"Jenta ar?[} af^r there "hall exist a national money.
‘ *. Governmeilt "hall prescribe the conditions for the recoinage or exportation
Ae^tSemenTnf ?atl.onal* fiha11 the limit of coinage, anTahall ar^nge for
««?tSument f obligations contracted before' the conversion of the system
tlf- A*}6 D?on®>r of Central America, created by this conference, shall be composed
of the following denominations: Gold pieces of 20, 10. 5, and 1 , silver of 1.00, 0.50 0 25
“J *5® tt 01 In fineness, weight, and size these moneys shall be like
those of the l nited States. They shall bear on the face Republica de - : on the
reverse, the shield of the Federation of Central America, with the legend ‘15 de
septiembre de 1821 ’ and below this the denomination.”
NICARAGUA.
New Issue of Paper Currency.
[From Bulletin of the International Bureau of the American Republics, March, 1910.]
The vice consul of the United States at Managua states that, according to a recent
executive decree, paper currency is to be issued in Nicaragua to the amount of
♦*.,000, 000. The issue is to be in bills of $50 denomination.
SAN SALVADOR.
Answers to interrogatories , 1909.
1. Amount of gold and silver coined during the calendar year 1909: None.
2. Coinage executed for other Governments, or by foreign Governments for Salvador
during 1909: None.
. ‘For many years they have suspended the coining of money in Salvador, but
since. 1896 the works of our mint, which had scarcely four years’ existence, have
remained idle.
“Subsequently, they have authorized different banking enterprises and honorable
persons and powers to coin money in foreign countries for account of Salvador.
“On November 29, 1904, the Salvadorian Bank received 113 cases containing 450,000,
and on December of the same year the Agricultural Bank received 75 cases containing
269,000 pesos.
“According to the Report of the Treasury and Public Credit for the year 1908, the
Government granted authorization to the Salvadorian Bank t ^0^d<S5ltai5SS’
and to Messrs. Miardi & Co. and Messrs. Dreyfus Bros, to com < 00, 0W, 500 000, 200.000,
and 500,000 pesos, respectively, of which lots there had come in when the said report
was first published only 700,000 pesos.” , , ... .
3. Statistics concerning the employment of gold and silver in the ™dustnal
nave not yet been collected, because, owing to their meagemess, they represent no
4. United SUateegold coin imported, or deposited at mint and melted, during 1909:
(No reply ) ,
. 5- GolSind silver produced from mines of the country during 1909. Data under this
ead have not yet been obtained.
136
REPORT DIRECTOR OF MINT.
6. Approximate stock of gold and silver coin and bullion in the country on Decern-
ber 31, 1909;
Character of stock.
In public
treasuries.
In h^nky
Gold coin .
Silver coin . .
m> o2i eit
$1X632.06
a Wl. JO
4.
There is no data concerning the circulation.
7. Bank notes outstanding at the end of the year 1909: Issued by banks of issue-
Notes outstanding .
Legal- tender silver holdings . ^SsSRl?
17(T percent* 80,11 d<lring 19091 Hi^les'' 208 Per<'enti lowest, 157 percent; aver'
N^eUWS PaSSed duhng ** year 1909 affecting the coinage, currency, or banking.
10. Report published on operations of mint: None,
year 1909 ImPOrt ^ export of S°ld’ (*) import and export of silver during the calendar
GOLD.
Classifications and countries.
Imports.
Exports.1
Gold bullion, U nlted States
$1,836,025.45
SILVER.
Silver bullion. United States
Gold and silver tabhigs. . .
1 In Salvadorian co lanes.
Commerce, First Half of 1909.
[From Bulletin of the IntemaUonal Bureau of the American Republic. March. 1910]
*
Gold and silver bullion exported amounted to $490,429.
CUBA.
Answers to interrogatories , 1909.
the calendar1 yed^So9; '(Xoreply^) ^ sllver us«d industrial arts during
be determined, for^he sil^le'reion1!^0^^01'1 Coin^ imPorted or exported can not
metals only, or according to the count customs statistics classify coins by the
ticular coinage. ” untnes of ongin, but never according to the par-
ln5C?bidth?re^ei^lU^fd1 IT *5 min“ of *• during the year 1909:
Pinardel Rio S^ucC.fai^v ZSTSTt “1 **»ted toSThStoc- of
lar operations have vet been Jt * ^ 'inente. It is not thought that anv regn-
mine belonging to an 4mcricn ™ on ln three properties, except at one 'quarts
Santiago deCula There are^^°mp“y' ,oc?ted <“ Helgrin. in Jhe ftovinee of
of that mine. * are> however' ®o available data in respecTto the>)duction
REPORT DIRECTOR OF MINT.
137
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909: Tho onlv official monetary data available in statistical form are those
compiled by order of tho secretary of finance, Gen. Juan Rius Rivera, toward the end
of 1905 and published a few months later, in 1906. These statistics show the following
stock in the Republic as on January 1, 1906: ^
Classifications.
Number
of units.
Value.
Per
capita.
United States paper currency:
Denominations of *10 and more .
$6,853,035
1,531,875
*4.36
1.00
Denominations of *1 , *2, and *5 . .
790,435
8,385,810
5.36
United States gold coins:
Denominations of *10, *20, and *50 .
15.820.010
5.595,944
10.08
3.63
Denominations of *5, *2$, and *i .
Total United States gold .
2, 181,763
21,415,954
13.71
United States silver coins:
Denomination,*! . . . .
217.121
372.415
217, 121
94,674
.14
.06
Denominations, 50 cents, 26 cents, and 10 cents
Total United States silver .
589.536
447.491
311,795
14.889
.20
.01
United States nickel and copper coins .
Total United States currency .
30. 128.448
19728
Spanish and French gold coins .
’ 3,607,540
1,623.283
1,474,971
1,621.641
16,818,762
1,623,283
375,954
26,618
10.70
1.03
.24
.02
Spanish silver coins:
Denomination, *1 . . .
Denominations 50 cents 40 cents and 10 cents .
8panlsh copper coins .
Total Spanish and French coins .
18.844,617
11.99
Recapitulation:
"
30, 128.448
18,844.617
19.29
11.99
48,073,065
31.28
With the foregoing table and adding thereto differences resulting fr°m imp()rte and
exports through customhouses of the Republic since the beginning of the c
year 1906, we have, if not an exact figure, at least a sufficiently approxima ig
the visible or known stock of money in the country. With respec j
there is no way of determining imports and exports by the mails, by express, a
similar means over which the customs exercise no control. TT rur-
Reducing Spanish and French gold (see table) to its value in Umted States cur
Qcy, we have the following figures of gold stock as on January ,
rency,
United States gold os per the foregoing table . . .
Knaniah and French gold . 1 , 681 , 876
lucing 10 per cent difference In value . .
S21.415.954
15, 136,886
Total gold.
The silver .
United .
Spanish
12 per
. 36,552.840
in circulation on the same date, reduced to United Stale, sold, Is a. toUow* jn, 71
i States silver . *1,999.237
h silver . . . 239.908
! per cent difference In . . . — 1.750,3.
Total silver (United States value). .
2,071.134
k Progressive improvement in Spanish fo^Cuba Spanish silver
between Spanish silver and pounds sterling is very s , * difference being but 2
k* reached almost a parity with Spanish and Suits and
* «nt, which, added to tho 10 per cent difference between u currency 12
lanish rraU ’i _ ™ Snanish silver as to umieu
pw _ _ , WMAU11 ttuuc.u w ^ w r-
Spanish gold, makes the discount on Spanish silver
percent.
AnrnJ 8t*to* mckcl and copper coins in circulation amounted to
Spanish copper to . .
Quet 12 per cent for difference in value .
*26.618
3.194
. *14,889
38,313
138
REPORT DIRECTOR OF MINT.
The scarcity o! copper coins has placed copper on a parity with silver, and fre¬
quently factories and other establishments employing day labor are compelled to pay
a premium up to 5 per cent for copper and for silver coins of small denomination.
The imports and exports of specie (gold and silver) during the calendar years 190fr-
1909 (according to statistics of the Treasury' Department for 1906 and 190*7 and data
supplied by the Bureau of Statistics for 1908 and by the customhouse of Habana for
1909, figures of the movement through other ports for that year, which is in anv event
insignificant, being unavailable) are shown in the following table:
GOLD.
you
Imports.
Exports.
Increase
of circular
tion.
Decrease
of circula¬
tion.
1906 .
Jl.2fr4.232
687.166
943.700
3.719.228
*4.472,0*
12.261.799
3,697.700
34.000
*3.308. 4M
11.574.633
2, 754. Oft)
1907 .
190K .
1909 .
*3.685.228
Total . .
6,614.326
20,466. 197
3.685,228
17.537.0W
Net .
13.S51.S71
SILVER.
1906 .
*256,330
09.387
118,000
138, 375
*522.433
157. 8S2
548,000
200
*266.103
88.495
430,000
*138. 175
Total. .
582.092
1.228.515
138. 175
781,588
Net
646.423
COPPE
R.
1906 .
*500
720
88.726
. .
*500
720
88,726
Total .
.
.
89.946
M Ml
foregoing tables it will be seen that the visible stock in 1909 was made up
Description.
Stock in 1906.
Stock in 1900.
Increase or
decrease,
1906-1909.
Gold .
silver . . .
*36.552.000
2,071.124
38.313
*24.300.969
1,424,70?
128.059
+ s».:*
copp" . iiimiinirnmmimrr .
Total .
38.661,437
25.853.730
- 12,807 707
real monetary consul h^^ver ^been^ than approximate, for, as a matter of fact, no
«yst*m permit <Uba: nor ** prevailing fi.«l
metals destined to industrial uses. °f movement °f coined metals and fine
to 'til i^q uf^tion1 1 ^SavtMk^say 'that* the ^ “ Ule *?d ot the >'*" 1909: In
cuUtion an\ bank note, or Lrvo. 1 1 r v e m m n ’ does not issue nor have in or-
authorize. Ub to £ “Y kind. and. althout-h the la*
after the concession held bv the *"''*n,a6® of such authnrixauon
8. Premium on Sold ts ,he oS,1 1 ^ Bank otdl? Island of t'uba e xpired
reucy. this MuesUon needs no f^er re^Cy °f ** counlry “ Lmuxi States cur-
REPORT DIRECTOR OF MINT.
139
9. Laws passed during 1909 affecting the coinage, currency, or banking None
10. Report published on operations of mint: None.
11. (a) Import and export of gold, (6) import and export of silver, during the calen¬
dar year 1909:
GOLD.
Clarification and country
Import*
Export*.
Gold coin:
France (United Slate* currency) .
$2,<S4.t£8
34.240
Spain tl nlted State* currency - . .
United State* .
$34,000
34.000
Total .
3,719,228
SILVER.
SUrer coin:
Spain (United State* currency ' . . . .
$138,375
United State* . .
#235
Total. .
138.375
235
It will be seen that the balance of trade {with reference to specie) in 1909 was favor¬
able to Cuba, the net difference amounting to $3,689,000, principally in French gold.
This had not happened in Cuba for many years.
Financial Statement at the Close or 1909
[From Balk tin of the International Bureau of the American Republic*, March, 1010.]
On December 31, 1909, the Republic of Cuba had on hand assets to the value of
16,399,447.50, consisting of cash on hand deposited in the banks of the island
$939,028 79, and cash in the treasury and in the hands of collectors $5,460,418.81.
The liabilities at that time exactly covered the amount mentioned.
DOMINICAN REPUBLIC.
Commerce.
[From Bulletin of the International Bureau of the American Republic*, July. 1910!
* * * * * * , *
During the year 1909 there was imported from the United States gold and si 'er cur
to the value of $219,465. *
* * * * * *
Lhinug the year 1909 there was exported to the United and r ' ur
rency to the value of $55,640, and to Germany to the value of $8,000.
Ansuers to interrogatories, 1909.
'“O. Amount of gold aDd silver coined during calgnj" 1909 N°
rn°i^y has been coined in this country nor is there any coinage ^ #
declam?ilt;ed SUtea Eold 00111 imIK)rtod diiring Yfota^Sative \^^proport?on
of “nportation of $202,565, but there is no exact dau relati e i
WT mJ?* am°unt. which, to a great extent was ^
the the total amount of money brought into ^Republic in
heater part was introduced by mail without being d # •
« . * *
140
REPORT DIRECTOR OF MINT.
8. Premium on gold: The monetary unit of the country is the gold dollar of the
United States of America. The circulating money i a the national currency- at a filed
official rate of $5 to $1 gold, and this latter at its nominal value. In 1909 dnfo
upon North America were sold at a premium of one-half to 1 per cent.
9. On the 15th of November, 1909, a banking law was passed, which was published
in the Gaceta Oficial. No. 2041, of the 20th of the month and year mentioned.
HAITI.
Answers to interrogatories, 1909.
1 and 2. Amount of gold and silver coined, and coinage executed for other Govern¬
ments during the calendar year 1909: None. No mint in Haiti.
3. Amount of tine gold and fine silver used in industrial arts during 1909: Very
little used and impossible to estimate amount.
4. Amount of United States gold coin imported during the year 1909: $400,000.
5. Gold and silver produced from mines of the country during the year 1909 Now.
6. Approximate stock of gold and silver coin and bullion in me country on Decero-
ber 31, 1909:
Gold coin:
In public treasuries, practically none.
In banks, impossible to estimate.
In circulation. $1,000,000 (estimated).
Gold bullion, none.
Silver coin :
In public treasuries, practically none.
In banks, impossible to estimate.
In circulation, $10,000 (estimated).
Silver bullion, none.
7. Amount of Government and bank notes outstanding at the end of the year 1909
Issued by the Government, gold, 14.593,115 gourdes This is in fluctuating currency
of gourdes, value of which is given under No. 12. It consists of the following:
Gourd®
. . . . . 7.0M.75&®
. . .
nkiaL ... 6,aoo,o®-*
. . . ;;;; mwx®
Total . . . i4. 593. 115-00
Less estimated las through firs, eu . ’ US.«U-U
Total estimated circulation _ .... . . 14,447 IS. »
8. Premium on gold during 1909: Highest. 610; lowest, 375; average, 525 Actual
currency of the country-, paper gourdes, and fractions of gourdes in nickel and copper
9. Laws passed during 1909 affecting the currency were as follows:
1 and 2 gourde bills .
6-gourde bills . .
5, 10, 20, and 50 centime
1 centime, copper .
Law
Francois Antoine Simon. President of the Republic, tiring the power that article 69
. of the constitution grants him.
Considering that the depreciation of the paper money cam** serious losses to ike
^Ze8 COIUmerc^ transactions, and' impedes the progress of the
Considering that there is necessity' to put an end to this deplorable state of affai*
and to consider, in consequence, the gradual withdrawal of the paper money. .
Un the report of the secretary of state for finance and commerce and the advice of
the following law 8ecretari€e of 8tate- baa proposed, and the legislative corps has voted-
Ik I“modiftf >' afl€r the promulgation of the present law the return*
created by the laws of August 11, 1903. and July 28. 1907. consisting of the stamp
tax. tiunsimanon tax, tax on the income from personal property and the passport tax.
^^nAn'Cil^lItionaPPrOPrialed l° ^ wit*drawal oi 1 and 2 gourde bill* at
Art. 2 The above enumerated taxes shall be the subject of a special account in
the treasury books and the funds resulting therefrom shall constituted sicred dep^1
REPORT DIRECTOR OF MINT.
141
In llio safe* of tho treasury, of which it in forbidden to put to any other use than that
Indicated by the procoding article.
A itr 3. AH appropriations that shall be made from thin fund for purpose* other
than that for which it wan created shall be doomed a crime against the state and the
author uml accomplice shall be punished with hard labor for life.
Art. 4. The taxi* stipulated to bo paid in American gold by tho laws of August
II, 1003, and July 20, 1907, may be paid in 1 and 2 gourde bills at the rate of exchange
of tho day of the payment.
Aut. 6. Tho operation of the withdrawal shall he carried on under the supervision
and care of tho h«gislutivc commission foreseen by tho law of August 1 1 , 1903, and under
Uio conditions provided by that. law.
Aut fl. A commission of 2 per cent of Uio amount withdrawn from circulation is
allowed to the legislative commission to cover Uio expenses of the withdrawal and to
roecompciiHo it for it* services.
Art. 7. Tho present law abrogates all laws and provisions of laws that are con¬
trary Uioroto and shall he executed under tho supervision of the socrotary of stale
for finance and commerce
Signed by the representatives July 9, 1909.
Signed by the Semite August 3. 1909
Signed by tho Prooiduul August 12, 1909.
Law.
(TnuisUlton I
Franpni* Antoine Simon, President of tho Republic, in view of article 09 of tho
constitution.
Considering that to modify tho economic situation of tho country and ameliorate
the general conditions of existence, there is a necessity to consider the immediate
withdrawal of a certain quantity of the f 0-cant nickel pieces at present in cireula-
Considcring that it is just and equitable to pay to the victims of the Port au Prince
fin* a second installment of the assistance granted to them amounting to It*6.t*t>t* fio
t'onsidering that this result can not be attained with the ordinary budgetary . re¬
sources, thon* is thorofora occasion to provide for this by means of extraorclinar)
Considering that there is a necessity to make an appeal to the public credit ,cov*r
tile InauftHenoio* of the receipt* and assure the current expenses of the f
On the report of tho socrotary of state for finance and commerce j “ll* J. » wu
•he council of tho secretaries of state, has proposed, and the legislative corp* h
uto urgency of the following law: , . . „ . ... _ _
Artici.k 1. The Govornmont is authorised to contract a loan. t« t . ln,m
the country, of 1,(HH),(KK) gourd*'* in 60-cant nickel piece* to Ik vrithdra
circulation, and 1,500,000 gourdes in hill* for the current oxihmisw* . . |n
Aut. 2 the 50-<x*nt nickel pieces, the proceeds of this ban si \*\V b« u\ of
tho nn*sem e of the legislative commission that will be formed * *
A«Tttl!!1 iC hills1 which aro tho proceeds of this Wn shall
[° ** um»d for tho current expense*. deduction being’ made o •
lor the benefit of tho victims of tho fin** of the Mb. t>lh, and 10th Ju ^ ^ ^
Art 4 A new *ur(ax of 15 in*r coni on the total amount »'t I * i . , .iAVB
•Jod for ,ho reimbursement of this loan This new surtax shall be enforced thn*c da>*
*fier the promulgation of the present law. the new surtax of
Aut. 5 When the reimbursement of the loan i shall bo cc i ^ ^all be u*xi
Percent shall bo ruducod to 10 percent and tinning still with the 50-
° withdraw the nickel piece* at present in cin'ulauon, ^ u> ^ formed
piiH't** under the supervision of the legislative »x>mu i
by virtue of the law of August 11. 1903 , that an* contrary
Aut. 0 The present law n*|n*uls all la"* "r pm> J* 1 ''v 0f cuir tor finamx'
themto and shaft be executed under the supervision of the se* rvtar> oi sun
•^commerce
bigmsl at tho House of Representative* August 20, 1909
‘ kin'll at the Senate August 20, 1909
Signed by tho President August 21, 1909.
142 REPORT DIRECTOR OF MINT.
11 (ab Import and export of gold during the calendar year 1909:
Classification and country.
Imports.
Exports.
Gold coin United States . .
$400,000
‘ 1250,000
1 Estimated.
11 (6). Import and export of silver during the calendar year 1909: None, or so little
as not to be noted.
12. Description of the coins in use in the country in 1909:
The money in circulation in Haiti is the gourde of 100 cents, multiples and fractions
of gourdes.
The law of September 24, 1880, provided for the mint ing of a national gold coin, called
fourde, weighing 1.6129 grams, of the fineness of 0.900, and a silver gourde, weighing
5 grams, of the same fineness. The law also provided for fractional silver coins, 0.835
fine. Tho gold coins were never minted. The silver gourde and fractional silver
coins, with the exception of the 5-cent piece, were minted and placed in circulation,
but have now disappeared entirely from circulation, owing to the fact that when the
paper currency became so depreciated they were exported and sold as bullion. There
remain only a few silver coins, kept as curios.
The actual currency of Haiti is irredeemable paper, in 5, 2, and 1 gourde bilk;
nickel, in 50, 20, 10, and 5 cent pieces; bronze, in 2 and 1 cent pieces.
United States gold is current in Haiti. Large quantities are met with, owing to the
fact that all the export duties, and on imports a surtax of 25 per cent and an additional
15 per cent, are payable in that coin. Some salaries are paid in United States gold,
and quite a number of items of the budget are in United States gold.
SOUTH AMERICA.
ARGENTINA.
Ansvers to interrogatories , 1908.
1 and 2. No gold has been coined since July 22. 1896. No silver has been coined
since February <, 1884, but $456,455.65 in nickel coins were struck during 1908, as
follows:
Pieces-
5 centavo . 1 «joc>. 977
10 centavo . 0*079, si3
20 centavo . -1-111111111111111 . ~ 719. 1®
Total . i.oPi,9l7
3. Coinage executed for other Governments: For the Republic of Paraguay, through
the mediation of the French Rank of Rio de la Plata. $300,001.75 in Paraguayan nickel
coins were struck during 1908, os follows: *
Pieces.
5 centavo . 400 005
10 centavo . »«0 005
20 centavo . . 1.000.005
Total .
4 and 5. No reply.
6, 7, and 8. Importation and exportation of gold and silver during 1908:
Country of origin and destination.
Germany .
Bolivia .
Brasil .
United States . .
France. .
1’aragua1
United f.
UniRuay.
Importation.
Exportation.
Gold.
Silver.
Gold.
J Silver-
$1,083,000
1
?7S
2,611
$34, i30
‘ $M.845
*1.*'
1,500
’ WO.OTO
1.410, 087
. 800
307, 520
22. 400.525
"'5,773
2.780,872
21, 899
|. - . * _
34,130
44.817 |
1,57s
REPORT DIRECTOR OF MINT.
143
9. No reply.
have iny knowledgo^^kno^m?;' tet feto be'
to ascertain the production of the gold from washings, inasmuch as it treats Tfmta
i T!?u I20<illctl0Ii5f arBPntiferoufl i galena during tho same year was 16,929 kilograms
l>ut the fineness of the silver is not known ; wo can only give an opinion that it oscillates
around 2 kilograms of silver to the ton.
14 and 15. Approximate stork of money in the country on December 31, 1908:
Denomination.
Number.
. . 2,065.428
100 . . 20,458,736
£00 . 400,479
.$•00 . 11,098.720
10 00 . 11,508.536
20-00 . 26,757
60-00 . » . 1,817,860
100.00 . 1,370,215
200.00 . . 31.436
600. 00 . 97. 433
IjOOaOO . 91,593
*ivw. w . . . . .
Old Issue of the National Bank, whose denominations are unknown.
Total.
% NICKEL COINS.
Scentavo . ... 26.365.290
10 centavo . 38.104,475
20 centavo. . . 21.207,475
Total.
COPPER COINS.
1 centavo .
2 centavo .
Nickel and copper coins for revision .
,032,714.00
1.458,736.00
812. 958. 00
493, 600. 00
0S5, 360.00
m 14a oo
893,000.00
021.500.00
2S7.200.00
716, 500. 00
503.000.00
306,038.00
571,235.746.00
1.318.264.50
3.810.447.50
4.241,473.00
12.907.518
26,680.576
Total.
9.370.18-V00
129.075.18
533.611.52
3.550.00
666.236.70
Grand total . 581,272,167.70
The issues of notes indicated above are classified as follows:
Issue guaranteed with $126,721,723,948 In gold coin. In accordance with the law No. 3871. . r2S8.003.909. 26
Isstte of the British Bank of South America, guaranteed with *250.000 in public funds for ^ M
Issue charged to tho National Government for the conversion of wltich there exists m tnc
k*nlc of the Argentine nation a fund of 25,000,000 in gold dollars . * _
Total . 581.272,167 70
On December 31, 1908, tho fund for conversion amounted to *28.000,000 in gold dollars.
17. 18, and 19. Notes were printed in 1908 as follows:
Denomination.
Si 12,636.000
4.902.000
807.500
783.000
198.300
5.
10..
50..
, 100..
1,000.
Total notes and value.
21.432.N00 *388.361.000
'? AptV,al currency of the country: “It is apt f this country are accustomed
d and silver money in circulation, because the pu . tlu;t come9 into the
^oalmost exclusive circulation of paper t tfe banks for paper, with
injyis generally exchanged at the conversion officeor at tnc txn
ich all transactions are made.” (From report for . '•)
144
REPORT DIRECTOR OF MINT.
21. Premium on gold: Law No. 3871, called the conversion law of November 4,
1899, provides that the nation shall convert all its present medium at the rate of 44
cents gold for each paper peso, or, approximately, at the rate of 227 .27 per cent, and
authorizes the cash conversion office to receive and pay out whenever requested notes
of legal currencv in exchange for gold at the rate indicated. Since October, 1902. up
to the present tne rate has been almost invariable, and is that which has prevailed in
all official and commercial transactions generally.
22. No laws were passed in 1908 affecting the currency.
23. No report of the mint has been published in 1908.
Argentina Monetary Reform.
(Translation.]
[From L’feconomiste European, Paris, Sept. 23, 1910.]
We give here below information relative to the Argentina monetaiy reform:
The project of law deposited with Congress by M. Iriondo, minister of finances,
ordered the stamping of gold, nickel, and copper coins upon the basis of the standard
value of the present paper peso, which is 44 per cent of the national gold peso of the
value of 5 franca, according to the law of 1881.
The weight of the new standard gold peso is fixed at 0.709696 grams, corresponding
to 2.20 francs.
The coinage of gold will be free and unlimited. The coinage will comprise 10-peso
pieces, valuing 22 francs. The nickel pieces will be of 20," 10, and 5 centavos, or
hundredths of a peso. The copper pieces Mill be of 2 and 1 centavos as at present.
The old gold argentinos of 5 pesos will be exchanged against the nen- pieces of 10
pesos at the rate of 44 centavos in gold for 1 paper peso.
The new monetary system will be maintained up to the amount of the funds of
conversion of issues prior to the law, No. 3S71, of 1899, M*hich reached the amount of
300,000,000 francs and which at present amounts to 150,000,000 francs.
The funds will be principally constituted from the not product of the liquidation
of the old Ran<*o National (National Bank), estimated at 60,000, 000 francs, by the
150,000,000 of the con\ersion funds formed by the Government and by 13.000.000
provided from other resources which will be realized outside of the annual entries to
the budget.
In exchange for the present notes there will be others delivered bearing the inscrip¬
tion, “Payable in gold pesos/’ The foreign coins will be received according to the
value represented by the fine gold which they contain.
A new issue department is going to be instituted at the Banco de la Nacion Argen¬
tine (the National Bank of Argentina), with a personnel, a treasury, and offices, all to
be made independent of the operations of the bank with the public and the Govern¬
ment.
This department will take charge of all operations at present connected Mith the
cash-conversion office.
The present reserve and the gold which will bo received in exchange for notes must
not in any case or under any orders whatsoever, be devoted to any other object than
f 1 V econiV«reu!n °* notca under the personal responsibility of the ad minis tra tors
ment Nallonal Bank of ArSeutina and the directors and employees of that establish-
^ank of Ar^e.utiiia .'vil1 continue to use the funds of conversion
deposited by the Government m foreign trading, as they have been doing up to the
300000 rhen ^ £und.* of, conversion have reached the amount of
300,000,000 francs, the Government anil always continue to increase them.
The Argentine Republic in 1909.
(From Bulletin of the International Bureau or the American Republics, July, 1910.]
* * * * # *
fund offl?hn ;^nLiti0n °- 016 in 1909 most satisfactory, the conversion
5S-
rate of intweet fell monev ™ h‘?t0'X0,f the Republic. As compared with 190? . the
ment of t&SSSy'SS ‘h# COmmcrdal •»* Atrial ***
For n number of yea™ prior to 1902 Argentina's credit and commerce suffer^ on
REPORT DIRECTOR OF MINT.
145
account of the inconvertible paper currency. At times the gold premium advanced
to an atamng figure The conversion act established the rcnvereion office thrS
which the Government undertook to maintain the gold premium at 127 per cent— that
mktiltU44Xopnrge T Uo,ot 27 fi*in8 th® value of the paper peso at approxi¬
mately 44 cents. To do this it was, of course, necessary to maintain a large gold
m the conversion office. This reserve began with the deposit of $2,843 in gold
in 1902, which, with a gold bank credit of $142,464 made in all $145,307. At this time
the paper circulation was 296,055,093 pesos. The reserve therefore represented only
m of 1 per cent of guaranteed value of circulation. Jn 1909 the circulation was
685,150,000 pesos and the gold reserve $201,000,000. which represents 66} per cent of
the guaranteed value of the circulation.
* * * « » « «
The following table shows the cash on hand in the banks for the last four years:
1906 .
1907 . , .
1908 .
1909 (November 30)
Year.
Paper.
Paot.
199. 400,000
220.770,000
330,101,400
318,354,944
Gold (cosh
on hand).
126,210,000
40,027,000
47,520,137
64, 264,356
BOLIVIA.
Report on the National Mint.
(Translation.)
. Since the 1st of January, 1909, the National Mint has suspended the coinage of
silver coins, as much for the lack of dies corresponding to the new types of coins as
for the lack of silver bullion. , . . . .
By law of December 31, 1908, the Government was authonzed to coin 4,000,000
bolivianos in silver coins of 50 and 20 cent values, with the weight of 10 and 4 grams,
respectively, and the standard of 0.833} fine. . . , .oK
In view of the most favorable conditions that could be obtained among the esta -
lishments of England, France, Belgium, Germany, and North America, the coinage
was contracted for in Birmingham for 1,000,000 bolivianos in the following form.
Bolivianos.
in ^ccnt pieces .
In 20-cent pieces . . .
Total..
700,000
300,000
. 1,000,000
from 20,000.64360 kilograms containing 579,292.44 troy «uncf - , r,nts
The issue of nickel reached 1 ,000,000 bolivianos in ‘ ’^.“‘‘ufent hid to con-
acc°unt. of the difference in weight and finem^the for in tho (aw 0f
for the manufacture of new dies with the design )
December 31, for future coinages. . . , • BinCe the adoption
f A® new eilver coin is merely for convenience in » 12 50 bolivianos,
of the goW standard, it need not be accepted in overnment has not yet been
he value of the pound sterling, on which account the ordered has been
ofrfrged to coin t£e 4,000,000 which it authorized, because the sum ordered na.
fiufficient for small transactions. . .. treatment of the amentiferous
m the fiy8tem of lixiviation employed in the^ systems of amalga-
^ctels, which docs not produce bullion as was the case 'With Y prccipitatos or
25?“. which ^e those wanted by the National Mint but of bullion
is which need special treatment to concen coinin^° neceasitiee of the
day more insignificant and is not enough for the coining
the view of resolving the problem of ^ Y^^^0fortE^^irpose, which
^ctor of the mint ordered from Europe inconveniences of
**ve not been installed on account r61e that has been given
th« umral character. On tho other hand, Jhe secomlao ^ the neCessity
of inBllver.°oin by th® «ted law of December the country was under
thS*011* the production of bullion, as was the case wnen
1®fpme of the silver standard.
72663°— 11 - io
146
REPORT DIRECTOR OF MINT.
Since the vear 1906 the production of bullion has touched its minimum pcant.
the annual importation into the country not having paceed 719,171 kilograms with
a value of 24,681.50 bolivianos, it being noticeable that in previous years it never
fell below 2,000.000 kilograms, on which account, if it were actually desired to strike
coins, the coinage woulaftot be over 30.000 to 40,000 bolivianos.
With the new dies ordered and the establishment of the section of furnaces for the
treatment of silver sulphured, the establishment can be started anew, and for which
betterment there has been set aside a sum from the Morgan loan.
The production of silver bare reached its minimum output during the years 1907
and 1906, as slKwn by the fallowing data relating to the last five years:
tiaras
TIAiJO
ISM.
ISOS. .
1*»-
1*CC..
In mum the production of silver sulphurets *v in an increased amount, accord¬
ing to figures of the customhouse statistics, as follows
Prodcchon and Exportation or Silver Scu-HrEETS.
v-
Kikurmiaa. <
ftra.
" Ea
-
ni.|||ir-
1*04. ....
ims.. ..
. . . .
*a.«c.xx
X.65A®*
1906. .
110,11*. 3
4.7».7i:
1907.
1*4. LS- *6
L56.4R2.34
A4SL*0
1*06 _
Silver Ores.
The production and exportation of argent if erous ores has declined eooaderably.
Even tne law of December 13, 1902, suppressing the former heavy duties, and which
is yet in force, had not power to reanimate and stimulate the development of the
silver mines of this district, whose owners all apply themselves with preference to
the working of tin mines, which yield to them better ulilitv and profit
In the value of the small exportations made firm this customhouse in 1906 and
the first six months of 1909, the following countries have taken part
• First sA\ oootlx
Gold ('one.
During the course of the past six months ( 1909) there was taken out of the country,
as proven at this customhouse. £898 in gold coin, of which £110 was exported pre-
vun» to the supreme decree of March 3, last, free of all dutv: and the remain^
£.88, after the said decree, which established the dutv instituted bv article 5
the law of January 3. 1906, on the exportation of gold coin. <~r bv paving the duty
cf 3 per cent on the equivalent value of 9,850 bolivianos, made' 296'50boliviau *
for export duty.
REPORT DIRECTOR OF MINT.
147
Exportation of gold of national production in 1908: 35,490 kilograms, valued at
59,225 bolivianos; silver, 150,482.340 kilograms, valued at 8,050,092 bolivianos.
The exportation of silver and gold in 1909 was as follows: Silver, 150 507 309 kilo¬
grams, valued at 8,060,401.33 bolivianos; gold, 39.900 kilograms, valued at 05 244 06
bolivianos.
The metallic stock of gold in the institutions of issue on December 31, last amounted
to £507,845. On June 30, last, that total had been reduced to £482,792, which
includes the £30,000 that the Government imported and the amount existing in the
bank coffers as sight deposits, on which they derived an annual interest of 4 per
cent.
For the reason that the diminution of the metallic reserves of the banks has not
passed £25,153, as may be seen, it does not indicate a large demonetization. A
good portion of the difference is in the hands of the public.
They have recently acquired £50,000, which also belongs to the Government.
With this new quota, the amount of gold coin existing is above the amount contained
in the data collected December 31, 1908, the date on which the new monetary system
went into force.
(Translation.)
Reestablishing the Duty Instituted by Article 5 op the Law op January 3,
1906, on the Exportation of Gold Coin.
Ismael Montes, President of the Republic, considering:
That it is necessary to provide for tne preservation of gold coin in the Republic,
with the view of consolidating the monetary reform of December 31, last ;
By employment of the power conferred on me by the law of December 15, decree:
Article 1. The duty created bv article 5, of the law of January 3, 1906, on the
exportation of gold coin is reestablished. .
Art. 2. Conforming to the General Regulation for Customs, all exportation which
is not made within the lawful requirements, are to be confiscated.
The honorable minister of the treasury and industry is charged with the execution
and fulfilling of this decree.
Given at the palace of the governor of La Paz, March 3, 1909.
Ismael Montes,
Tenth Guardian of the City.
To contribute to the consolidation of the reform, the governor considers that the
following measures are necessary: . _ ,
First. To concur with the resolutions and their supplements m the inaintenauc e of
a rate of exchange on London which will not permit the exportation of coin and t
procure the advance of that rate up to where it will give place to the importation ot
said coin. , ., . . .
Second. To retain in the country the greatest °°ln and
encourage the banks so that, on their part, they will fulfill that .duty . rrodit
Third8 To retire the old silver coin existing in the reserves of ‘ ^ T
and in the hands of the public, and to substitute for them those coined under the con
ditions specified in the new law. , . , . rw_ a v;flW
Fourth To carefully observe the fluctuations of our economicbaiancewith a
to knowing the movement of exportations and importations, which interfc a p
cipal factors, solely, in the fluctuations of exchange.
Bank Statement, June 30, 1909.
(From Bulletin of the International Bureau of the American Republics, January. 1910.]
Mr. Jor<s Gutierrez Guerra has prepared some inte^ting data concerning
ations of the banks of Bolivia dunug the first to 5.63U93.75
coined gold on hand in the five banks of issue of the Kefmbhc amou nteu i j ’ of
bolivianos, as compared with 5,780,156.25 bolivianos o"
148,962.50 bolivianos, or £11,917. On the other hand J Juno
30°mq 20'356 20 b,*liviar°T^ silver coin was due
l909! as compared with December 31, 1908. * . . order of the Govern-
to ‘ho exportation by the Industrial Hank, in accordance with an order
ttent, of 227.000bol,vianos. . ,1,,, transactions of the Bank of Bolivia and
The foregoing figures do not include the txansao , whose figures are
London^ an institution recently established in the p » i,llt comprises
thi available» 110 statement of that bank having yt Agricultural, and
operations of the National, Francisco Argandona, inaustmu, h
Mercantile Banks.
148
REPORT DIRECTOR OF MINT.
BRAZIL.
Answers to vtiorogaiories, 1909.
1. The coinage of gold and alver by the Brazilian mint during the year 1909 was ss
follows:
—
X ember
of pjaces.
Visa
'■**- >xa
Gold:
l.Ofli
4. C
J Ore*
io, *0
MC
JO miti-fm
TottL .
5,0
90,2X0 51 m
Silver 1 nwh*** ...
Md.200
~S1*.200
2. No coinage was executed at the Brazilian mint for other Governments, and no
coinage was executed for Brazil in foreign mints.
3. There are no statistics to be had as to the amount of gold and silver used in the
industrial arts.
4. The amount of American gold deposited in the caixa de converaao on December
31, 1909, was $13,266,840. which represents the total amount of American cold held by
the Brazilian Government. Of this amount none was deposited or melted at the mint.
5. The production of gold would be represented more or lees by the export *f bulbuo
(see No. 11 ). The production of silver is practically nil
6. Approximate stock of gold and silver coin and bullion in the country on December
31, 1909: There are no figures obtainable as to the deposits in the hanks. The gold
deposit in the caixa de couveraao (which corresponds to the public treasury * was, oo
December 31, 1909, 225.283,744 milreis, equivalent to $68,336,069. No statistics as to
the deposits of silver.
7. There are no bank notes in Brazil. Of Government notes, the amount of convert¬
ible notes was 271.320,420 mi Ire is, equivalent to $72,300,637. The amount of incon¬
vertible paper notes was 628,452,722 milreis. equivalent to $190,630,663. (The value
of thepaper milreis throughout thevear was 15d., or about 30.4 cents.
8. There is a premium on gold: The gold milreis is equivalent to 1.8 paper uiilreis.
corresponding to their respective values of 27d. and lod. The actual currency is
paper of the convertible and inconvertible character, as above referred to.
During 1909 the highest rate of exchange was 15Jd . and the lowest rate 15^jd. which
would give the value of the gold milreis as 1.7S8 paper milreis. The average premium
on gold for the year 1909 was 7SA per cent.
9. There were no laws passed during the year 1909 affecting coinage, currency, or
banking.
10. No department of mines and no report of the operations of the mint, separately
published. The information will be embodied in the Annual Report of the Minister
of Finance, not yet issued.
Exports1 of^old*1*1 CXpon °f 501(1 during the year 1909: No imports of gold.
Countrias.
kuJocraos.
Gonna ct .
t2.va
1.210,94
4.ZD 2,252.**
These figures are based upon the amount of gold on which dutv has been paid so
it must be borne in mind that there is doubtless a considerable amount of gold bullion
taken out of the country clandestinely.
11. (b). The import of silver during 1909 is not ascertainable.
12. Description of the coins of Brazil: The description of the coins of Brazil submitted
REPORT DIRECTOR op MINT.
140
by the mint is, for the most part substantially correct. The legal valuation of the cold
S«l“6 y’ corr“Ponc‘" 40 4 valuation of the English Xreignof8^9taffl
w“ ?apcr> but not delusively inconvertible paper.
It consisted of 628,452,722 milreis of inconvertible paper and 271,320,420 milreis of
convertible paper money Nor during 1909 was it still true that the monev incireula-
tion was fluctuating in value, except as stated in answer to No. 8, between the narrow
limits of 15 and 15# pence.
The stability of exchange in Brazil at a shade above 15d. is one of the results of the
operation of the conversion law, passed in December, 1906.
The Brazilian nickel coins at present in use are of the denomination of 400 reis, 200
reis, and 100 rens. All of the 50 reis pieces and the old, lai^ge, 200 and 100 reis coins are
being called in . The 10 reis coins have long since disappeared . ( 1 ,000 milreis is called
a conto and l,000contosa “conto decontos”).
THE BRAZILIAN COINAGE.
(From the Brazilian Yearbook of 1909.)
During the colonial period and even after independence, until 1883, the monetary
system of Brazil was regulated by the Portuguese law of August 4, 1686, that determined
thetypes and values of the different gold and silver coins in use.
The value of the oitava of gold, or one-eighth part of a Portuguese ounce (28.691
grams or 445.7681 grains troy), of 22-carat fineness, was declared to be 1,600 reis;
and that of an oitava of silver, of the fineness of lid. to be 100 reis, the ratio thus estab¬
lished between gold and silver being 1 to 16.
By the same law it was determined that in the Portuguese colonies in Asia and
Africa, the value of the oitava of gold should be 1,720 reis or 7.5 per cent higher, and the
oitava of silver, 120 reis, or 20 per cent higher.
By the law of October 12, 1702, the coinage was again revised, when the value of a
mark of 64 oitavas of gold of 22 carats was determined to be 112,640 reis, and that of
silver of lid. fineness to be 7,600 reis, thus raising the value of the oitava of gold to
1,760 reis, and of silver to 118.75 reis, the relation of silver to gold being thus raised to
1 to 14.816.
In spite of this law gold coins of 4 oitavas and value of 6,400 reis, in accordance with
the old law of 1688, continued to be issued at Lisbon, whilst in the colonial mints of
Brazil and other colonies, gold coins of 2 oitavas and 20 grains (2.227 oitavas), of the
legal-tender value of 4,300 reis were issued at a premium of 18.75 per cent compared
with the coins simultaneously issued at Lisbon and likewise legal tender in Brazil.
On October 8, 1833, the first law’ under the Brazilian Empire was promulgated regu¬
lating the currency, by which the value of the oitava of gold of 22 carats was declared
to be 2,500 reis. nut only by a subsequent decree, dated October 18 of the same year,
was the relation of silver and gold declared to be 1 to 15.623.
In 1846 there was a further alteration, when the law of September 11 declared an
oitava of cold of 22 carats to be worth, 4,000 reis. In 1849, by executive decree of July
28, the relation of gold and silver was declared to be 1 to 14.222.
This law, by which the value in sterling of the milreis (1,000 reis) was determined to
be 27d., is still in force, as regards gold. .
As regards silver, there have been several alterations of the fineness of the coins,
the last coined in 1906 being of 0.800 fineness, with the weight of 20, 10, and 5 grams,
and legal value of 2,000, 1,000, and 500 reis, respectively.
. Taking the oitava gold for basis, the depreciation of Brazilian currency since 1688
w as follows:
Year.
1688
1702
1833
1846
1906
Character of coin.
1 oitava, 22 caraLs.
...do .
...do .
Colonies.
2.227 oitavas, 22 c&ruls .
1 oitava, 22 carats .
. do .
. do .
Currency.
Depreciation.
1,600 reis in gold coin.
1 ,760 reis In gold coin.
1,720 rols In gold ooin.
Starting point.
9.09 per cent.
6.97 per cent.
4,300 rcls In gold coin .
1,888 rcls In gold coin .
2,500 reis in gold coin .
4,800 rcls of 27d. paper money*
7,200 rcls of 27d. paper .
15.25 per cent.
15.25 per oent.
36 per cent.
60 per cent.
77.77 per cent.
The rate of conversion of new issues.
150
REPORT DIRECTOR OF MINT.
Value op Curb ext Brazilian' Coin* ani» Currency.
Wright
FioroessL Mini \ah*
Okms.
Grams.
20.H»ms . . 5
U>jl» w&. . ... . 2.5
5JX30 r*4« . L»
17. (W*
4 4JC
£- a. i.
1 1 a 4 taw
I waer \ l 2 aj*
1 0 11 2.S74
The mint pur of the unit 1.000 reis, pold, is therefore S6.IHd. In commerced
practice 27 d. is adopted as the par value
Finance.
[Front Bulletin of the Tnlrmatioasl Rurrtu of the American Repu’ Hcs. July. 19IU]
On December 31, I90S, there wa< in circulation paper money to the amount of
$634,682,852. On the same date in 1909 the amount was 628.45^.782 milreis This
circulation has been further reduced in the year 1910, so that at the end of March it
stood at 627.075,261.500 milreis
Commerce.
iw
1*»
Gold, silver, and platinum. were imported during the years 190S and 1909 as follows:
»
Gold was exported during 1909 as follows
1741 .<*
&si.»
DnrrtpUoD and dnlinatiuo
Gold In ban:
Kk> tk- Janeiro .
Mborilaneum. .
4.323 I 1.S32.*®
(Translation ]
The Coining of Money in Brazil.
(From L' Economise F.uroptVn, Parts. Nov 12, IBORj
According to information published in the Brazilian Review, tho mint of Brazil
has recently acquired the delivery of 91 silver bars of a total weight of about 4. VO
kilograms
hJsr^jiisyfKja1" coh,<Ml “* «hc» •>» » ** •» *i*e roini
..WWW ,w>.vi'rl!mi'ul h“ authorization for coining silver pieces up to the amount "f
thknT fittkwmn LhJ.!lumUT *tni<'k to the prex-nt do not amount to more
JJf “ 15*«W»000 milreis Silver coins are now very common in Rio Janeiro, and th*'
ok“°r:°'“u'1 2 V" IT- of"‘n «i W and Vom. are rapidly distp, Hearing
from e^,M1u?i"1Td,.,th<‘y fn.ve .no,,r? tha> «h» minister of fininrw intends to rctnv
\\ i t' i' er.c"m' previous to those coined in the last mo >'•»'
VWth ragard to nickel coins, the necessity appear* to bo less urgent . 'rl - •« 1 ’* »
amHOO r£iT 1 proHenl a total 4111011111 of -UOUO.OOO milreis. in pi
The mint P<^
i pieces of 400, 2U0.
REPORT DIRECTOR OF MINT.
151
__ A_A , t ---» - - During the first nine months of 1908
77,050 milreis in gold coins have been stamped, and they expect that the coinage of
gold coins will be considerably greater in 1909. The gold coins stamped during the last
^inBre^ h^e" °* 20 a"d !° milreis Piec08» exclusively. They have not coined any
At present exchange a gold niece of 10 milreis is valued at 18 paper milreis, and a
20-milreis piece at 36 paper milreis. Any person who brings a bar of gold to the mint
to be made into coin must pay 4 per cent of the value of the gold, beside 3 milreis for
the two assays to which the bar of gold is subjected.
The Brazilian Review adds that, if the rate of per cent for coinage would shortly
b® reduced to 1 per cent, in case exchange is maintained at its present low rate, it
would then make the coining of gold in Brazil more profitable than its exportation.
CHILE.
Annvrra to xntrrrogatoriea , 1908.
1 Amount of gold coined during 1908, $513,560 in gold coins of 10 pesos value each.
No recoinago
2. Amount of silver coined during 1908:
10. 40 (with wpieht of 15 prams to thi* noso >
1580.782.60
,173.789.60
414, 938. 00
182.123.06
Total . 2,351.633.25
No recoinago; all from now bullion. No domestic nor foreign coins melted. No
coinage at foreign mints.
3. Coinage executed for other governments: None.
•1 and 5. Amount of gold and silver used in industrial arts during the year 1908: No
reply .
U importation of gold during 1908: From Great Britain, $117,971 in coin (Chile gold
Exportation of gold during 1908:
Metal.
Quantity.
Value.
Copper and cold mineral to Great Britain . . .
Kilogram*.
2, 195 %S
32. 961
root.
519.957
3.793
Gold mineral:
58.776
104 290
10.217
28.157
Total .
163.066
38,374
1.162. 913
2.529,735
Qokl bullion:
.565
1.017
to Germany ... . . .
17.775
3.620
31.239
6.516
Total . . . .
21.960
38,772
—
152
REPORT DIRECTOR OF MINT.
7 Importation of silver during 1908: From Peru, $141,476 in coin (Chile currency
at 18d.); from Bolivia, $51,053 in coin (Chile currency at 18d.).
Exportation of silver during 1908:
Metal.
Quantity.
Value.
Silver ore:
Kilograms.
50.100
77. 002
21.900
Poos.
44.149
32.252
2,114
To United States .
149,722
79,025
Silver and lead ore:
To Great Britain .
17.011
1.524
3,701
419
18.535
4.120
Copper and silver ore:
To Great Britain. .. . . . . . . .
475.390
21.000
84,636
8.817
496.390
93.453
Silver bullion:
To Orrst Prllflln . . . . . . .
8,301.123
61.153
809.074
2,213
Total . . . . . . .
8.362.276
| 871.287
8 and 9. United States gold coin imported and amount deposited at mint and melted
during 1908: None. . . . , . lonu
10, 11, 12, and 13. Gold and silver produced from mines of the country during
Gold, 1,188,522 grams; value, ‘$1,070,354. Silver, 52,435,071 grams; value, ‘$1,515,241.
Output of gold and silver from refineries of the country during 1908: “Although no
small portion of the gold produced in the country is sent abroad for treatment or tor
separating it from the silver, copper, and other metals, which are nearly always com¬
bined witn it, it is of some interest to know the origin of the gold which is brought to
the mint, in bars, dust, and crude bullion for either melting or sale. ”
Derivation and Character op Gold Melted and Acquired by the Mint in 1908-
Description.
Bars. \
Crude
bullion.
Domestic .
Kilograms.
124.8910
Kilograms.
88.2295
Foreign .
- -
“Various foreign coins, 41.2825 kilogrums.” a
14 and 15. Approximate stock of gold and sliver coin and bullion in the country a
tlio close of the calendar year 1908: ,
“Gold: Of the amount of 23,985,620 pesos coined in 1898, 1900, and 1901, for the fun<* *
of conversion, there were used 4,539,460.32 pesos for acquiring gold bullion from
6, 1898, to December 31, 1905, and the remaining 19,446,159.68 pesos were delivered
to the official treasury of Santiago as part of the 26,850,444 pesos in coined gold, ana
2,057,069 in gold bullion, which that office sent to Europe in 1905. •
“The coinage of 1,581,040 pesos during the years 1906, 1907, and 1908, was cficcteo
with the object of providing the mint with gold coin for paying for bullion broug
there, and also for contributing to the increase of gold circulation, for which the
depended upon the mint. The amount of those coinages remaining in the vault o
December 31 , 1908, was 312,971.33 pesos. ^
“Silver: In tho 10 years running back from July 6, 1898 to December 31. *• ’
they have coined silver coins with tho fineness of five-tenths, in accordance
•In dollars of I8d. ..
* From the Report of tho Superintendency of the Mint, presented to the honorable minister of tho treas¬
ury In 1909,’’ Santiago, Chile.
REPORT DIRECTOR OP MINT.
153
1907. The amount and types of eUvor toim inT«t ,.!SL,, ^ ot Peceml>«- 8.
that period with authomatiou conferred by thoee thiSTStedk™ COUled
On December 31,1908, the mint closed with a stock of 1 030 000 nesos in w-h l
silver coins having delivered to the official treasury of Santia^^k^a^0^
public, m the preceding nme years, 8,487,481.45 pesos ^ “ and t0 the
date of the promulgation of law No. 1992, of Aueust 27 1907 kv
the Saltpetre-refiners’ Cash Credit Office (Caja de Credito Safi trero)’ was established
and which authorized the issue of 30,000,000 pesos in notes of lawful curre^aad ffie
Z °f E l0an ?f 4;*00'000 «erliSg. the international exchlS^ fTu“££S
around l.j pence. In the months of September, October, November, anti December
, * - o - - — r* . . »**»'- net. 1 m; Bt an iiy iu mo circuianon
bu?an A.be mo?t and /?r2ro ^asibly felt as it was up to the point where they could not
obtain them without difficulty and even then at a sacrifice as they were iudisiiensable
in small transactions for daily subsistence. This situation could not be prolonged
ana lor relief they had recourse to a new coinage of fractional coin, which was the
‘ ?«2iSke?.^y of effectin? it- That was the origin of law No. 2057, of December 9,
190/ , which created the silver coin with a fineness of four-tenths. The intrinsic value
of this coin with 15 grams per peso, at 26$ pence, which was the price of silver in Lon¬
don at the end of November, 1907, the date on which the superintendent of this mint
proposed their coinage, was 5 pence; and if the troy ounce should go up to 30 pence
it would be 6$ pence. But taking into account the tolerance in the fineness and weight
the cost of remelting, transportation, insurance, commission, refining, etc., the intrin¬
sic value legally exact is reduced at least 1 penny, so that with silver at 26 1 pence, it
would value in reality no more than 4^ pence, and with silver at 30 pence, no more
than 5{ pence.
“In carrying out the law of December 9, painstaking energy was applied by the
mint in the coinage of the new coins and they were satisfactorily delivered to the
circulation a very few days afterwards, thus contributing to put an end to the per¬
plexing situation produced, and also to that which might have supervened in still
more distressing conditions, os in June, when the decline of exchange should have
been still greater, it went up to around 7j pence.
“From that time to the present the mint has covered all the exchanges and orders
for delivery of fractional coin they were asked for and, as they have had occasion to
demonstrate, had sufficient in their vaults to meet any extraordinary demand what¬
soever.
“ By article 2 of the recorded law of December 9, 1907, the President of the Repub¬
lic was authorized to make coinage of nickel coins in 5 and 10 centavos, up to 1.000,000
pesos.
“The mint made a calculation, between their values, with the nickel necessary for
effecting the coinage and to conveniently provide spwial blacklead crucibles for
melting the metal, and stamping the designs for their issue, which had to be those
that were approved by the supreme governor. Notwithstanding, the mmt ceased to
coin the nickel money or to launch them into circulation. The reasons they gave in
a note addressed to the honorable minister of the treasury, were, m the fireplace
that they had fully supplied the necessity for which that com was dertmwl with the
silver coin of four-tenths fineness, with the same designs as the 10 and 5 centos,
and forthwith, as a ground of greater importance, establishing the fear that the adver
coins were to be expelled by the nickel coins of less effwUv^ueandprobably
opening a field for possible falsification and clandestine importation of nickel coins
with the object of hoarding the silver ones. n Ror.„i,iir bv
Copper: In exercise of the authority granted to the Pres ^^^^following
artldo 11, of law No. 1054, of July 31, 1898 they coined m thatand ffie
- i in copper coins" of 2* and 2 centavos; and n 1904 906. 190 • ana
/vur« naa not reqUired the coinage oi more u.uu « y ■ th pro.
ee“1Th*t *»w, as it is' recorded, created a new cZwaTveZdiffmZfrenV’ilwt
154
REPORT DIRECTOR OP MINT.
also very diverse. The quality of this new coin had had satisfactory resell*: in fee
use of it no exchange ha* resulted unpleasantly as with that of the preceding coin,
and their die permits of carryh^ them without inconvenience, and they are not
susceptible of being confounded with the gold and silver coins.
**In the exercise of the law they have pot into circulation only two of the types oi
the new coins, those which were in greatest demand, of 2} and 2 centavos. They are
preparing the dies for the other two of 1 and one-half centavos and they will be
issued in the coarse of the present vear >1906). The amount of copper com existiag
in the mint on December 31. 1906.' was 410 000 pesos.’’ (From the Report of the
Superintendent of the Mint, presented to the honorable minister of the treason- ia
1909 Santiago Chile )
16 and 17. Government notes outstanding at the end of the year 1906:
.. tan
. MEMB
. 2fc.IU.ai
.. JMJM3I
17, TV Si
... 17, XT m
. r.na
... 4*71 •.»
SCO
According to law the Government declares the entire emiasioa convertible in gsl d.
18 and 19. Amount of bank notes outstanding at the end of the year 1906: $4,220 44i
None not covered by legal tender gold or silver coin or bullion.
20. Actual currency of the country : Gold of lSd . silver 15 grams to the pea*.
government paper convertible according to law.
21. * * *
22. Laws passed during the year 1906 affecting the currency: None.
23. Report published on operation* of the mint daring 1906: “Memuria de b <.*»
de Moneaa” sent herewith.
Answers to inlarogatanm. 1909.
1. Amount of gold and silver coined during the calendar year 1909:
SILVER
2. Coinage executed for other governments, or coinage executed for Chile by ctltf*
countries, during 19 ifi None.
3. Estimated weight of fine gold and fine silver used in the industrial arts durihP
1909 Unknown It is impossible to find in Chile any statistics covering this auesti^-
4. United States gold coin imported and depurated at mint and melted dunfl?
1909 None.
5. Gold and silver produced from mines of the country during 1909:
Coid torn deep atecs and ptarc mining .
SDw troa dry or RAceocs ora. Rad, *r«d copper ore* ".r:™:™
1.3K414
44, 282. 57%
l«k
>tl-tsd
REPORT DIRECTOR OF MINT.
155
k 6 a;'PiPd?QXiTt°,8!°C,k °f 50l^.aud «Uver coin and bullion in the country on Decem¬
ber 81, 1909. No statistics of this nature aro obtainable, except the following:
Classification.
At the mint.>
Gold coin belonging to the treasury ... .
Gold coin belonging to the mint
130.000.00
282,071.33
Total .
312,071.33
66,525.75
2,346.027.13
1.158.732.74
Gold bullion belonging to the mint ...
Silver coin bclonfnn^ to tho mint
Silver bullion belonging to the mint . . .
1 SI = 18d*
7. Amount of Government and bank notes outstanding at the end of the year 1909:
.Issued by—
Notes out¬
standing.
Gold
holdings.
Government .
Banks of issue .
S146.001.708
3.008,202
too. 000, 000
Total .
150,000.000
00.000.000
8. Premium on gold during 1909 Percent.
Highest premium . : . 8®
Lowest premium . « . 38
Average premium . 65
The actual currency of the country is paper (to be converted Jan. 1, 1915, into
gold of 18d. in accordance with law itfo. 2192 of Aug. 30, 1909).
9. Laws passed during 1909 affecting the coinage, currency, or banking: Conversion
law of August 30, 1909 No. 2192. (Published in Report of the Director of the Mint
for 1908.) . , .
10. “Memoria de la Superintendencia de la Casa de Moneda” for 1909, inclosed
11. (a) Import and export of gold, (6) import and export of silver during the cal¬
endar vear 1909:
GOLD.
Classification and country.
Imports.1
$5,300
t bilean gold coin. United States .
Classification and country.
Exports.
Quantity.
Value.1
Hold bullion:
Great Britain .
Peru . . .
Total .
Oram*.
18.075
2.680
$30,464
241
21.655
30,705
Gold dust:
14.006
31.704
25,211
67.062
Germanv...
France
45.710
82,273
Gold ores:
Grou kilo*.
16.001
4.188
2.776
873
1,672
Great Britain . . .
tiormimy . .
United States .
21.089
517
1,118
2, 166.065
1,201.776
11,861
5.321
5.848
5.455
149.260
206.134
3,013
STOpUates of gold. Great Britain.... .... . .
• ^;lpl«auss of gold and silver. Great Britain . .
n® )! tnd copper oree, Great Britain .
811 ver ores. Great Britain
Pper, gold, and sliver ores, Great Britain. .
i $1 = 18d.
156
REPORT DIRECTOR OF MINT.
SILVER-
Classification and country.
Imports.
‘
SBrararin:
$14.91)
. . . . .
72.411
Total . . . ...... . . . . . . . . . .
S7.S39
300
CHILE.
[From Bulletin of th* International Bureau of the American Republics, July, 1910.]
Finance.
The paper currency consists erf 150,000,000 pesos, paper, of a par value of 18d. On
January 5, 1909. the' exchange value of the paper peso was at its highest, 13Ad.,
which is about 04 per cent of its par value. It reached its lowest point during May,
when it went down to a fraction under 10d., or to about 54 per cent of its par value.
At the close of the year the peso was worth about UtVL* but is now a little higher
The average during the rear 1909 was about 10$d-, or 21 cents United States gold.
The total deposits in 6ie banks on December 31, 1909, were 394,614,515 pesos, gold.
ECUADOR.
Aiukyt* to interrogatories, 1909 .
3. Estimated weight of fine gold and fine silver used in the industrial arts during
the calendar Year 1909: None.
* * « • t *
6. Approximate stock of money in the country on December 31, 1909: The total
amount of currency in the hands of the public (dec. 31, 1909) is:
Total..
REPORT DIRECTOR OF MINT.
157
The legal reeerve of the banka is 50 per cent of the amount of notea in circulation:
The notes In circulation amount to. . .
The reserve should be . . .
The banks held gold for . . 1 184,613
6urplus of gold . . . 5,027,305
issue
. . 832,i
7 Bank notes outstanding at the end of the year 1909: The three banks of i»i
existing at present in Ecuaaor have in circulation (Dec. 31, 1909).
Bank of Ecuador . ,
Bank Comorclal and Agricola . . . } ’ 25’ SK
Bank of Plchincha . .
It b considered that there have been destroyed and iost, about ^Joo.'ooo
_ In circulation . . . « <mo wm
The banks hold (securities) . *!!!.!!!!!!"! ’VB,S77
In the hands of the public . 8.236,648
* * • • * * «
9. Laws passed during 1909 affecting the currency: According to the amendment
of the money law (act of 1908), two new gold coins were added to the law of 1898, viz:
Gold piece of 2 sucres; weight, 1.6272 gram; 0.900 fine. Gold piece of 5 sucres;
weight, 4.0680 grams; 0.900 fine.
The Government was authorized to coin nickel as follows: 100,000 sucres in pieces
of 6 cents, weight 3 grams; 50,000 sucres in pieces of 2 cents, weight 3 grams; 30,000
sucres in pieces of 1 cent, weight 2 grams; 20,000 sucres in pieces of $ cent weight
1 gam. Alloy, 75 per cent copper, 25 per cent nickel.
The law of 1898 ordered that silver was legal tender up to 10 sucres; the new law
reduced it to 5 sucres. The law of 1898 ordered copper or nickel to be legal tender
up to 5 cents; the new law increased it to 50 cents.
* * « * * • •
11 (a). Import and export of gold during 1909:
Sucre*.
Slnoo the adoption of tho gold standard (In 1900) there have boen Imported into the conn-
try In gold coins . . 1*. «15, 0U5. ^
Or these only 2,000,000 sucres were Ecuadorian coins ( pieces of the value of 10 sucres, or £1)
and the rest English and Australian sovereigns, French 20 francs, German 20 marks, and
•ops 15 American pieces
There have been reexported up to December 31, . . 7,165,164.00
Leaving In the country a stock of . 9,248,801.85
m t- ..Which b distributed as follows: , . . , . _ ,
U) In the vaults of the banks as guaranties for their notes Issued and in circulation.
Bank of Ecuador . . V
Bank Comorclal and Agricola .
Bank of Plchincha . .
(2) In the hands of the ’public! !!!!!!!!!.!
404,556.00
106.570.00
817,17V 00
5,027,305 00
4,222.580-85
Total .
Exporta of gold from Ecuador:
9,248,901.85
1001
1002
1903
1904
1905
1906.
1907
1908.
Years.
Ore.
Bars.
Coin.
Dust.
Kilogram*.
Kilogram*.
Kilogram*.
>;
I
2,033
7, Wifi
16,858
16,762
17..5G8
17.226
16,563
18,078
321
177
80
128
92
36
176
SO
123
131
240
454
259
158
REPORT DIRECTOR OF MINT.
11 (6). Import and export of silver during 1909:
In 1885 Ecuador adopted the decimal system and since then tho quantity of silver coin
imported (and recoined abroad) has amounted to . 4 OOlS 3d5 00
For the purposo of conversion (1900) when tho gold standard was udopted there were exported
(and afterwards) for necoinago into small pieces . 2 415 ($7 00
Leaving in tho country a stock of.
Which is distributed as follows:
(1) In tlio vaults of tho hanks:
Bank of Ecuador. .
Bank Comercial and Agricola. . .
Bonk of Pichincha .
2.579,728.00
47,02192
105,54140
20,199.91
Total .
(2) In tho hands of tho public.
172,889.23
2,406,858.77
Tota> . 2,579,728.00
11 (c). Nickel: According to the law of 1908, which authorized the Government to
coin up to 200,000 sucres in nickel coins, there were imported in 1909, 168.000 Micros,
of which only a part was put in circulation, and the stock on December 31 was dis¬
tributed as follows:
In the vaults of tho Bank of Pichincha.
In the treasury and hands of the public.
Total .
Sue ms.
25,315.75
142. (*54. 25
168,000.00
BRITISH GUIANA.
Answers to interrogatories , 1909.
1 and 2. Amount of gold and silver coined, and coinage executed for other Govern¬
ments during the calendar year 1909: None.
_ an^ silver used in the industrial arts during: the calendar year
1909: No record is kept. ^
4- United States gold coin imported and deposited at mint and melted during
1909: None.
6. Amount of gold and silver produced from mines of the country' during 1909.
Oold produoed in 1909.
Kilograms.
(fine).
Valuo.
Domestic production:
Deep mines .
Placer mining and hydraulickine. . . .
518
1,467
134
1291,395
825.913
75,407
Dredging . .
Total .
2.119
1,192,715
0
No silver produced.
of ^°1(1 a?d 8ilvcr coin and bullion in the country on December
unknowii t<>Ck pUbllC treaa,ine8’ n°n©; in banks, declined to state; in circulation,
Ti7' rA“2““"t,Grernrnt and bank n0t08 outstanding at the end of the year 1909
onH M008 no,tea Banks of issue: Notes. $632,835; gold holdings
and legal-tender silver holdings, declined to state
2 per ccnt!.1Um °D *** during 1909: UiKheet’ 2 P« cent; lowest, 2 per cent; average,
banks a' ToaihtA^Sn^<l!heA'°Uintr^ “ En«lish ®Bver and notes Issued by the loc*I
banks 1° obtain gold from tho banks a premium of 2 per cent is cliareea Hardly
but to TCt bo vereiorn tl°n Th° b,,/inp P°wor of a» English sovereign is 20 shillings.
q ^rg i sovereigns, a premium of 2 per cent is charged
10 A conv ofthft^nnrt^T1^ 1909 u?°?tillK the coinage, currency, or banking
ended March 31 IQftQ * th? 5*0Jnm“810ner °f lands and mines for the fiscal year
cnaea March 31, 1909, is transmitted undor separate cover.
repout director of mint.
1909:ImpOrt and exp0rt °f 8°ld’ (6) “"P011 au'1 cxport of “ilver. during th« calendar
GOLD.
Classification and country.
Imports.
Exports.
Gold coin, U nlted Kingdom. . .
HW0
Gold bullion (raw gold):
United Kingdom... .
United States . . .
*1.117,330
10, ew
Dutch Guiana.
6, 449
m
Total .
7.058
1,134,010
8ILVEK
DUTCH GUIANA.
Answer* to interrogatories, 1909.
1 and 2. Amount of gold and silver coined, and coinage executed for other govern-
by other mints, for British Guiana during 1909: None.
3. I* me gold and fine silver used in the industrial arts during the calendar year 1901 •
"®t applicable to this office. ^ . , ....
4- United States gold coin imported during 1909. $30,000. Amount melted at
N& statistics are kept. . . . , ,009071s
5. Product of mines of the colony during 1909: Gold from placer mining. 1, • -
g^i^proximate^tock^of2 golcUnd silver coin and bullion in the colony on December
“fe . . . =r.ft?as
. . ,<a“
Total . . .
7* Government and
258.167.45
does
L:,j.not ia«ue notes,
moldings, $206,194
8- Premium on gold during 1909: Highest. 8 per
o States gold pieces for jewelry Lowest
• A o laws were missed dur
nd bank notes outstandingat the end of the year 1909. Government
Banks of issue: Notes outstanding. $439,046. legal-tender
cent, as there is a big demand for
premium. 2 per cent,
coinage, currency, or banking.
10 fk™ woro passed during 1909 affecting tho issued-
AU- There is no mint here, nor is there a report of the department u*
160
REPORT DIRECTOR OF MINT.
and exP°rt of gold, (6) import and export of silver, during the calendar
} 6£ir limy i
Classl Odilon and country.
Gold coin, Netherlands. .
Gold ore;
French Guiana.
Imports. Exports.
»», ,*00 ft**
Netherlands. . . • IIS,3S2
England.... . .."I.'!!”!”"!" . .
France . . 2ft .T9J
11S.3K 614,091
SILVER.
Silver coin, Netherlands . L
Silver ore, Netherlands . . f!
I1.1CL0O
12. 91 LOO
12. Coins of the country: No mint here.
-4nsu<rs to interrogatories, 1909 .
1 Md2. Amount of gold and silver coined during the calendar vear 1909- None
yi °f fme 801(1 and fiue 8ilver used in the industrial arts during the
1 SS®?®?*1.?8 goW during 1^09: None,
place/minfnir from uf the country during 1900: Gold, from
SUSS “ kilograms: fine; valued at 1.107.9SC, frunc* (No silver Pr^
3lf 19^froXllnale >toc ^ o{ 8°^ and ®iver coin and bullion in the country on December
Character of stocks.
In puhtto
treasuries.
In t tanks.
1 In circulation
Gold coin .
.
Frame*.
S48, 410
l as, nee
Franc*.
2S|, 120. 00
Inrma
.
513,’ 70S. 90
About ioo.cax)
Impowible to obuin^Sv ' i$oTOtk!?k n°t6S ouLstandinP at the end of the year 1909
8. There is no premium on gold.
jj- ^ Unkin*: Xono
not be obtained ^ CXp°rt °f ^ a“d rilvor durinS the year 1909: Thus information ran
12. Coins of the colony: The same as in France.
REPORT DIRECTOR OF MINT. jg|
URUGUAY.
[Translation.]
Monetary System of the Oriental Republic of Uruguay.
By Mr. Edmond Bruwaebt, Minister for France to Montevideo.
[Taken from the Report of the Administration of Coins and Medals to the Minister of Finances, Parts, 1908. ]
Urupiay has the gold standard with this peculiarity, that the Republic has never
Z^hS**?^** 80 d ?0m8' ,TW whirh circulates abundantly in the country
comes from foreign countries of which it carries the stamp. Besides these foreiS
b,lv<-r COin for PaXmenta in small amounts, coined fm
account and benefit of the State, in much reduced proportions. There also exists
change, a national nickel coin of equally limited issue. Save for retail
account however, this is not the metallic money of which they make the most use—
in Montevideo, at least. Bank notes seem to lie preferred. The check exists, and
u may be that the print on them is troublesome, and it may be that distrust makes
inem unwelcome, but they are far from occupying the important rdle which they
ment and which is accorded to them elsewhere, in England and in the United States,
lor example, to tho groat benefit of monetary stocks, which, becoming leas necessary
as articles of liquidation, they can be used as material for investment.
LEGISLATION.
Before the acknowledgment of the independence of the oriental Republic (Aug.
o’ ’ *be C0lmtxy Bad been alternatively attached to Spain, to the Argentine
''^federation, to Portugal, and to Brazil; thence the various monetary systems
afc all repealed.
— The gold money is now regulated by the law of June 28, 1862, of which tho
pruicipal provisions are as follows:
Article l. On January 1, 1863, the national coins of the oriental Republic of
Lniguay shall be the silver piaster and the gold doubloon. ^ #
Art. 3. The gold doubloon of the weight of 16.97 grams and the fineness of 0.917
snail have the value of 10 silver piasters.
* * * ^ * * * *
Art. 8. So long as no national coins shall have been coined, the foreign gold and
silver coins will continue to circulate for their current value ac<*ording to the equiva¬
lence following the official rate (since modified) of 13 different kinds of coins.
* « * # * *
Art. 13. All prior laws contrary to this law are repealed. # #
ihJh^douVIe “‘““dard recognised by thia tost suffered a tot injury 9*
promulgation of the law for banks of issue of March 2o, 1865. That law w
in intent, in paragraph 1 of article 1, as follows: Notes ijuedbj the
ildfm “hall be drawn to fiearerTat eight, and payable m gold com. mduWwm, or,
T?8 t^om> m coin of tho samo metal, according to the law of Mar *y .
The adoption of the single gold standard was affirmed 11 years later by the hat
,ne 1876, expressed in these words: of
l,.„?he 'aw of March 23, 1865, having declared compulsory the reimbunwMntw
-> 3 in gold doubloons or in coin of the same metal.accordii 8 ^ , t
u; by w^ich repeal of the double standard pnmsmnallv esl boon cons&ervd
ho mvolv®d, taking into account Uiat the gold since then has « -g£autivo
he solo monetary standard of the Republic and that in conseq hS^ooe not amount
has. hv — . 10 limited to a fraction wnicnaoesn , A.
5HS aatne time
fluctuations produced by the constant, lowering of silver * ith relation 8“
» “An Pro visional government has willed and decreed ^ R0pUbIic
of silv TICL® To continue to permit the importation and ,d coiB m pro.
Pom ' ?01I?H of lawful currency with the auxiliary charackrlotii g*
na nidicatod by the following article:
726630-11 - 11
162
REPORT DIRECTOR OF MINT.
“Art. 2. Accordingly, no one has to receive the auxiliary coins for more than in
piasters in all settlements not exceeding 1 dubloon ; for more 'than 10 piaster in “ul
tk^ U- 10 1,0??L for “ore 20 m settlements of more than 1 000
The fractional pieces of the unit are designed to transactions of less than 1 piaster
The law of June 23, 1862, instituted the silver piaster and gave itffie weizht
On ,thC fJleneaL^ °-917- That lawful piece w^ nev£ c3
i Son £Sr M?,7' troasuf>’ P*®*** » contract with MM PaulierBros. for coinS
1,000,000 oriental piasters at the mmt of Paris. These white pieces were of the den..mi§
nffir?al8hlLi P.lasier* 50. .20, and 10 centesimos or soles, arranged according to the
he French decimal tvnes of 2sfl£5 5
and 2J> pams the fineness was fixed at A, m despite of the onental law That
however, was regulated by a subsequent law of October 18
gfifiojSo ^whiS^es^6 C°mm8, aCCOUnt “d profit of *e StAte’ of
♦ °[ ^at law indicated the dimensions and weight of the Dieces areorrfin#
to the French types. Article 3 decided the design. Article 4 r£S tolh^
FmmThi8 °f- operation . the gran tees of the coinage realizing only their expend
From the point of view of the liberty power of this money articfe T ovpr^ tC
In payments of less than 10 piaster they must remit uptoVaS^StSsfor
payments of more they will observe the following scale Prom 10 to ^piaster* 30
^ to Sii 0rr cen^f 25 fiS? UP‘° 100’ 20 rr cent; tor morotofn Rffiten
2p£ o£l° * *’ f°r more 500 UP to b>™°> 5 per cent; for more thaA 5,000,
' c°mage realized, on the whole or in part the executive newer inter-
other* thuFtha^of n ationaf c<rinage7 °f ** ***»& *
be^hsposed of <asf1 they^ a^eeto^to/^ *° Pariiament of * e P™6* realized, which will
ktton^l ru^v wddiTim^^! m?0!!!! dc8lgnd ^.ve been coined and put in circu-
the workmen 5?rt3uPOT?,r N •vertheleas the officials of the State
in sih er^ffie ^ldbeto^ auPPIiesJ tradesmen, are nearly ail paid
15 per cent- ft wS it £ ££?!??% The Premium there for 10 or 12 years' has been
button dealers th^Tobtain 1 003 to*? h* 1'0(».8old Peters to the
which benefits all thes^ F^t the * ^em?alPin of S to 7 piasters,
imDose th« vhitA .il1’ who, when it has small sums to pav, can
who receive the wEite nieces ^ P^^cs. On the contrary, the retail dealers
frequent commercial ^ °'eJ7un W coPf*ir coins, which caused
ofthe French decimal type In °f C°,m **5® given P^c® to ^ l>ronzo P1?™
0fSnfVaT?iwWh‘?ri^' Se“b.Cmp t£KST' °f ^ “ % I*
uie piecej
centeannos or soles _ , .
or soles in n ic ke^inail p^menkf* *Thf n0t Por rem*t more than 25 piaster
According to the proSSS^t J ^ ?me re*ulation applies to individuals.”
profits (they had a gain of 400 000 retlre™ient of demonetized bronze coins, the
appropriated to vSS.ff" on *e «» *>0.«>0) are, by article 10.
VENEZUELA.
Answers to interrogatories, 1909.
nients. or coinage executed executed tor other Govern-
1909: None. at forciSn mi“* for Venezuela during the calendar year
" SfflwSA repW
REPORT DIRECTOR OK MINT.
163
ft. Amount of gold and silver nroducod from mi non of the country during 1909:
Gold from daop minoa and from placer mining, 603.113 kilograms; value, 1,503,086.99
bolivars. (No silver.)
6 Approximate aUxk of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909: Gold coin in banka, 3,562,126 bolivars; silver coin in banka, 3,294,086
bolivars,
7. Amount of Government and bank no too outstanding at the end of the year 1909:
None.
H. Premium on gold: There in none.
9 Laws passed during 1909 affecting thn coinage, currency, or banking: ( No reply.)
JO, There was no report published during 1909 on the operations of the mint.
II, Import and export of gold and silver during 1909:
HOLD.
Imports
Exports,
Country.
(coin).
Coin.
Old gold.
I' HIM HUte* . .
liollVQTI.
3, 100,690
Itohsart.
18,000
Bnliiari
51.S07
There was no import or export of silver during 1909.
EUROPE.
AUSTRIA-HUNGARY.
Auhtkia.
(Translation |
Answers to interrogatories, W09.
I Amount of gold and silver coined during the calendar year 1909:
OOLD.
PanowtnaNoni
Number
of pieces.
Value.
Now coinage:
loo crown* . . . .....
3,971
330, 158
2,512,007
91.979
390,102
Crowns.
20 crowns . . . . .
Ducats rr. . . . .
3, 328,277
4O.M0.K3O.G2
9*200.00
40,979,030.62
BII/VKK.
N*w coinage
ft crow im . . . ... . . . . .
l.cMinUno ttmlciw . . .... . — ....
3, 484, 58?
6,054,100
Total
9, 538,667
• 17. 419. *W. 00
3.055.00
'I'olnl nn'olhikpr (< limit* t to)
Total coinage ....
17,422.935.00
' Trade coins
• No value li glviui tit* Lavnutlno dollars. since us trade rotas Uiey luasvcs no constant value.
164
REPORT DIRECTOR OF MINT.
.k2 ^JT11*** w^xecTd ** !** “ Vlenn* ** olhar Government*, don*
men?len<,Ar >W 1909, 00 ooma^ ™ executed for Austria by jotr^n Go^
Estimated WC*gbl °* fine 8°^ *»“* ®lver «s«ed in the industrial arts dsri^
Material used.
Gold.
am.
New bullion .
Hmemmers
rwon
plate, jewelry , etc .
iistrc
M.4MLH
Domestic cote . .
Foreign cate . I . .
l.TO.t|l4
3.C1.MS
I. *5 31
Total .
f.iiirt
N».a
Tt.M-Hi
Si£fk ♦C^dfJ^ted,_V mint “Kl melted during 1909: 1.135.75
^uch1 r°nUmed 18 9660 kilograms irith allov and 17 0689 kikgtaw
s V E? “KT* lmP"rted tbe United States in the vwr'lW
odendaTyeax wd° W “d P^110^ irom mine« <* the country d'uhcg the
cnnimiiii
Weigel
Vatoe.
oocn.
Domestic production Item deep
“Klti
1 Oars*.
$41 S*
Domestic production: nLT“*
From dry or MHceoos ores.
30.97€L5tS
5. mass
27*. 830
a&mcn
1 241 VS
r7.is
30.7S
l.MCU*
Frotn copper ores...* *111 . . . . .
Total .
her 3i^l909X*m*t*' 8toc^ °* 8°ld idlver coin and bullion in the country on Dtceffi-
Character of stock.
In imperial
treasury
Ln Austrian-
Hungarian Back
Inrirrtda-
Uco.
Gold coin
Gold bullion
Sflrer cote _
Total.
::::::::::::::::::
Cro re
3.671.764.55
5.611.993 00
9.383.757.55
Crons.
1,066.504.731.21
387.462,541 «
290. 780.449 00
1.644. 807. 722 30
Crwpe<
1 JOO.OOOO®
1 350.000 0®
i 630 000.0®
‘Nearly.
7. Bank notes outstanding at the end of the year 1909
Issued by banks of issue: J
Notes outstanding
Go*d holdings.
Or owns-
**“*2£5»
•asss
folWs',tOCk °f meuk ln a‘p Austrian-Hungarian Bank on December SI, 1909. «■" **
Nickei and bronze cotes
Gold coins and bars.
Crowns.
i£SS
7^’albr stock on Dec 31 «■» **.210.^5
Bids of exchange payable In Sid. ' I.TI^OIS.***
. 475.<C! 92* »
REPORT DIRECTOR OF MTNT.
165
8 Premium on gold during; the calendar year 1909: The exchange value of right
drafts on London, Berlin, and Paris at the Vienna Bourse in 1909 was as follows
Items.
Maximum.
Minimum.
Parity.
Date.
Value.
Date.
Value.
London (for £1 sterling) .
Berlin (for 100 marks).
Paris (for 100 francs) ....
Crown*.
240.082
117.321
05.3118
Nov. 9 .
Dec. 2-3 .
Dec. 3 .
Crown*.
241.475
117.925
95.80
May 1 .
fJan.29 .
\Feb.3 .
Mar. 10 .
Crown*.
239. 475
| 110.876
’ 95.000
Crown*
240. 174
117.503
95.220
9. Laws passed during 1909 affecting the coinage, currency, or banking: Procla¬
mation of October 27, 1909, from the finance ministry, regarding the issue of a national
gold coin of 100 crowns.
Law of October 27, 1909, (Reiehsgesetzblatt No. 201), relative to the coinage of a
national gold coin of 100 crowns, for individual account.
Upon the basis of the law of August 11, 1907, the coinage of the 100-crown gold piece
was to commence in 1909, or when found convenient to establish the practicability to
make the coinage. .
10. The reports upon the operations of the mint and mining for 1909 are still in
course of completion, and when they are ready we will forward a copy as formerly to
the Director of the Mint of the United States of North America.
11. (a) Imports and exports of gold, ( b ) imports and exports of silver during the
calendar year 1909:
GOLD.
Classification and country.
Imports.
Exports.
Gold coin:
Kilogram*
200
Kilogram*
37
16
17,726
374
1.340
17
6.403
907
10,170
1.790
Greece .
322
io
1.188
116
26
373
187
Netherlands .
83
291
660
Russia in Europe .
50
21
80
359
1,245
702
609
907
29
Turkey in Asia .
306
1,713
25
15.685
42,628,182
18
35,211
96,719,602
Estimated value in crowns .
Gold bullion:
837
64.900
6.290
Prance ' . .
3,738
287
Viirol nrluilLl .
Netherlands . .
161
309
Roumanla . .
42
42
13
60,019
180.284.7U5
5.390
Estimated value in crowns
16.893,500
Ore and gold-bearing quarts:
Germany . . .
' 600
647.800
200
'Total . . . .
600
648.000
120
167.140
166
REPORT DIRECTOR OF MTXT.
SILVER.
Hcxcart.
(TmininB )
Atuwtj to ixUrrogatorie*, 7909
1- During the calendar year IMS gold « coined a, follow.
I^inuw.
fi
*
f
a^cro»TJ pfacos..
IfecfWB pinto ... w.
To tML .
4K.T43
sn.su*
4.IT4.2
. . . . . . i .ms.sa
Of^.bo« amount. U.M5.5S0 crown, w« new coumge and 7.490 crown. -
2 <•). During the calendar tea, iso» rilver wa, coined a, follow.
REPORT DIRECTOR OF MINT.
107
Of the above amount, 5,290,636 crowns was new coinage and 1,275 crowns was
recoinago.
In addition thereto there \eero withdrawn from circulation and recoined 3,156 one-
crown pieces, valued at 3,156 crowns. ...
2 (6). The above coinage was executed at the royal imperial mint at Vienna with¬
out the assistance of any foreign mint. No coinage was executed for other govern-
K7< .51162 kilograms of gold, valuod at.
11,284.870 kilograms of silver, volu<*<1 at
k,8T>8, 398.11
. 101.563,911.00
The Hungarian refineries worked only upon material derived from Hungarian
mines; in consequence, the gold and silver recovered was cpnUinedteOie ammrnt
of ore produced, from which was recovered: From gold washings, 0.6069-J kilogram,
of value* 1 kilogram of fine gold i» reckoned »t 3,280 cniwiu and
' ei'lfpproxiiMteatoek of g“d mid ‘silver coin and bullion in
s^sSsSsais asSSft. *,.d a„d «»»«>» *
^Tho complete withdrawal of Government notes was concluded in the course of
the viw 1907* so that in 1908 and 1909 no Government notes were in circulation
* O? banknotes issued bv the Austrian-Hungarian Hank, there in circulation
at ih, a mill nf the voar 1909 2,188,000,000 crowns. , , ...
At tho end of the year 1909 there were in the vaults of the Austnan-Hungarian
Bauk
Gold coin and bullion .
Notes payable in gold
Stiver coin and bullion .
Crowns.
1,354.000.000
AO. 000. 000
298.0ai.000
1,712,000,000
Aftnr deducting this amount from the bank notes in circulation (2,188,000,090
rmsvnst there iv mains 476.000,000 crowns which are not covered by a deposit in
• K.’it which art' covered bv bank securities.
R According to the average current rotes of Berlin, London, and Paris, cold has a
»i.i« During tho first six months of 1909 there was no premium; at the middle
nfJimothc imtostoodat porfit was below par at the lowest at the end of March, when
it was 0 4’W per cent below. During the second six mouths of 1909. to the end of
September it was below par, then it rose to oar at the beginning of October; at the
middle of October it was again below par ami sinking; it then took an upward ten¬
dency and stood at the highest at the beginning of December, via, 0.433 jht cent
premium; at the end of December it again sold at 2 per cent.
168
repost director op mtst.
t. No tew* were pn-ed during ISO# xftertuw ™tmge etuie^-m bjLkti*
10. The reports upon the operetioos o( the cat end mimng for 1KB im or* j*
completer! : when ther ire uroed we wflL M formerly, forwnrd » copy direct to the
Dhectnr of the Mint of the United Steles ot North Amenta.
11. Imports sod export* of gold end rilver dtmne the extender yexr 1S09
IwroKTs avd Expoets or Goto UD Sn.rex urro »*d now Hcrcser itrxreo
the Yea* 1309.
REPORT DIRECTOR OF MTNT.
169
Imports and Exports of Gold and Silver into and from Hungary during
the Year 1909 — Continued.
Imports.
Exports.
Classification and country.
Value
per kilo¬
gram.
Weight.
Value.
Value
per kilo¬
gram.
Weight.
Value.
Silver coins and medals:
Ootcru.
149.50
Kilogram*
52,478
Croicnt.
7,846.461
Cromu.
186
Kilogram*.
37,159
Crown*.
0,911,574
Bosnia
186
342
63.612
Germany .
149.50
62
9.269
186
141
26.226
3
449
Switzerland .... .
Italv
149 50
34
5,083
6,279
.
France .
149.50
42
186
18
3. 348
1. NO
R ouman la . . .
180
10
Servia. . . . .
149.60
8
1.196
186
12
2.232
1.116
Turkey in Europe .
186
6
European possessions InJ Africa
Argentina .
186
9
1.674
149.50
2
299
Total . .
62,629
7.868.036
37,697
7.011.642
Silver bars, plate, etc.:
Austria .
67.90
07 9Q
2,619
90
177,830
67.90
36
13
2.444
6.111
67.90
883
Germany ..••«, . .
Franco . .
67.90
2
136
67.90
4
272
67.90
2
136
Total
2,711
184.077 .
55
3,735
BELGIUM.
Answers to interrogatories , 1909.
1 Amount of gold and silver coined during the calendar year 1909: No gold coined.
Silver coinage (national fractional coins).
- - - -
Denomination.
Number of
pieces.
Value.
Domestic reoolnage:
2.175,000
4.500.000
5,012,916
Franc*.
4,350,000
4,500,000
2,506,458
50 centimes. ... - . . .
11,687,916
» 11,356,458
1 From metal obtained as follow's:
Belgian coins of 5 francs . . . .
Belgian worn coins of 2 francs, 1 franc, and 50
Demonetised 5 * ** “
Demonetized 2
Kongo.
Total.
Francs.
8,788,575
970, 45S
553,065
340,935
10,005,033
2 (a). Coinage executed at the Belgian mint for foreign governments during the year
1909;
Country and classification.
Number of
pieces.
Valuo.
4,000.000
12,000,000
16,000,000
150,051
Franc*.
1,008,000
900,000
3,300,000
900,000
Siam:
170
REPORT DIRECTOR OF MINT.
2(6). No coinage was executed at foreign mints for Belgium during the year 1909
3. Estimated amount of gold and silver used in the industrial arts during the cal¬
endar year 1909: Since the law of June 5. 1868, authorizing the free exercise of the
gold arid silver smith trades, it is impossible to ascertain the weight of gold and silver
used in the industrial arts.
Three refineries situated in the provinces of Liege and of Limbourg (works of Bley-
berg, Sclaigueaux, and Overpelt ) treat argentiferous ores of foreign production. The
production of those establishments in 1909 amounted to 80,747 kilograms. The work*
at Overpelt have also extracted from auriferous ores 43.479 kilograms of gold.
For the 44 years (1866-1909) the production has amounted to more than 1,090,544
kilograms of fine silver.
A fourth refinery, started at Hoboken, near Anvers, treated lead ingot-, imported
principally from Spain; their production for 1909 amounted to 184,562 kilograms of
silver and 985 kilograms of gold.
4. United States gold coin imported and deposited at mint and melted during the
year 1909: XU.
5. Gold and silver produced from mines of the country during the year 1909:
Source of product.
Kilograms
(toe'.
Value.
Domestic production.
Gold .
* l.OSS
Fn»a.
3. 540, SM. 52
<*>
<*)
Silver—
From dry or silioeous one. .
80,747
From leed ores .
1S4.562
1 Extracted during 1909 from the silver and feed ora Imported and treated tn the Lie tones of the euuntn .
calculated at 3,444.44 francs per fine kilogram. No sold Is produced in Belgium.
1 Calculated according to London and Pans quotations. M0 to 90 francs per tine Vi Ingram an the averse
during 1909.
6. Approximate stock of gold and silver coin and bullion in the country’ on Decem¬
ber 31, 1909: No answer can be given for lack of data. (See answer to No. 7 )
7. Government and bank notes outstanding at the end of the yeur 1909: There are
no Government notes in Belgium. The National Bank, placed under the control of
the State, of which it is the cashier, issues alone, in fact, notes payable at sight at its
offices. These notes are legal tender among individuals as long as the bank pays them
at sight and the State accepts them in its treasury.
The amount of notes outstanding on December 31. 1909, was 845,015,550 irancs.
On that date the coin stock of the bank amounted to 15S, 912,458.56 francs. The bank
also holds foreign bills to the amount of 149,128.613 francs, always redeemable in gold
8. As regards the actual currency of the country’, gold is not at a premium in rela¬
tion to silver coin or bank notes of the National Bank.
?* La^B] piiwod during 1909 affecting the coinage, ciirrencv, or banking: ( laws pub¬
lished in Report of the Director of the Mint, 1909.)
10. The mint publishes an annual report, copies of which are sent to the Bureau of
the Mint, Washington. There is no department of mines, as there are no mines of
precious metals in Belgium.
11 (a and 6). Import and export of gold and silver during the calendar year 1909
Import and Export of Gold and Silver into and prom Belgium during the
Year 1909
GOLD (INCLUDING PLATINUM).
Countries
General imports
Special imports
Coin
Bullion
Ore
Coin.
Bullion Drr
Belgian Kongo .
Franc*.
Francs
1.587.600
3.448. $00
Francs.
2.279.677.36
Francs
Francs. Fm**-
1.587 000
1, 152. 000
Germany .
A ukLtU-H unpirv
235,600
40.500
12. 400
Bremen.
Brazil .
7.300
3,000
3. 100
7.200
French possessions on West Afri¬
can coast. .
33,400
7,300
7 »»
French possessions on East Afri¬
can coast .
Spain. ..
France .
29.214 400
3.000
540.000
43,970.400
21,700
3. (BO .
540.000
3,484. 8U0
REPORT DIRECTOR OF MINT.
173
To the fractional pieces recoined, of the value of 976,458 francs, were rharged a
loss in weight of 9.48 per cent, with an inferior fineness to the legal standard of 0.835.
These lowes have been compensated for by an addition to the melt of 390.867 kilo¬
grams of fine silver, for which the price paid was 34,190.61 francs (being about 87.50
francs per kilogram'). Including the expense of manufacture and assay, the cost of
the recoinage has been 46,333.12 francs.
The total coinage of 11,356,458 francs has been divided as follows:
2-trmc pirns..
14r»ncp'
. 4,350,000
- 1 . 4. £00,000
pieces. . 2.506.45*
TMaL . . 11.356,458
These pieces on the average were manufactured very nearly at the correct weights.
Those of 2 francs and of 1 franc were weighed singly for the requirements of the office
of the comptroller.
The proportions of pieces acknowledged to be defective in weight or stamping
has been 1 .45 per cent for the 2-franc pieces, 0.92 per cent for those of 1 franc, and
0.97 per cent tor those of 50 centimes. These amount* are neatly inferior to those
assayed from the preceding coinage. The general average fineness of the pieces is
0.8345. Upon 3,650 samples assayed singly by the assay office, 12 have been found
light and outside of the tolerance of manufacture.
The average number of pieces struck with one pair of dies has been about 31,600
for the 2-franc and 1-franc pieces and 91,000 for the 50-centime pieces.
Nickel and copper coins.
In 1909 the monetary factories began the coinage of 1,000,000 francs in 25-centime
pieces with an allovage of nickel and 200.000 francs in 2-centime pieces of copper.
On December 31 the amounts struck represented the value ol 499,000 francs in
nickel pieces and 111,000 francs in copper coins.
The supply of metal has been acquired by public awarding at the price of 4.15
francs for the nickel and 1.52 francs for the copper.
In the coinage of copper the remelt of 70,000 francs in copper coins retired from
circulation bv reason of wear was included, those pieces having lost an average of
13.13 per cent of their weights. The expense of the recoinage, metals included,
amounted to 18,058 francs.
There have been coined besides for the Colony of the Kongo a first amount of 300,000
francs in special nickel coins of three denominations — 20, 10, and 5 centimes. The
tvpe of 20 centimes is especially for the colony. They have been replaced in Bel¬
gium by those of 25 centimes by virtue of the law of February 3, 1908.
(TranabuJan-]
New Belgian Nickel Coins.
| From L' Economist*? Europwn. I'mrw, Mar. 25, 1910.1
A royal decree of the date of Mareh 14, 1910, determined the type of new nickel Bel¬
gian coins to be as follows: . ......
“These nickel coins will be pierced through the center with a hole having the
diameter of 3$ millimeters for the 5-centime pieces. 4 millimeters for the 10-centime
pieces and 44 millimeters for the 25-centime pieces They will bear on the obverse
an A (abbreviation of AltesBt^-*' Highness surmounted by a royal crown and by
an inicription of the words “ Royaume do Belgique ” or “ Komnknik Belgie ” (“King¬
dom of Belgium under which is the date; on the reverse on the left side is a branch
of laurel, and on the right side the indication of the value. The pieces will have a
smooth rim. .. .... ....
“Our minister of finances is charged with the execution of this decree.”
174
REPORT DIRECTOR OF MINT.
BULGARIA.
Antwcrt to xntrrrogatorirs, 1909.
6 Approximate slock of gold and silver coin Riid bullion in thu country on Ditcui-
ber'ai, 1909:
Id the National Hank of Bulgaria:
Gold coin .
Silver coin . „ .
In other banks:
Gold bullion . — .
Franca.
.n.om.oai
17.000.00U
1,000,000
7. Amount of Government notes outstanding at the end of the year 1909:
Ivoed by National Bank or Bulgaria, which performs the duty of public treasury
Notes outstanding -
Gold .
Silver. . . . .
Gold boldines.
Legal-tender silver holdings .
Franca
M. 000. 000
23,000.009
31,000,000
17,000,000
8. Premium on gold during 1909: Seven-tenths centime per 20-franc gold piece,
llighest premium, 40 centimes; lowest premium, 7 centimes.
[TranalaUon )
Bulgarian Silver Coinage.
[From L’Ecooomlstr F.uropden, Paris, June 3, 1910.1
The Bulgarian Government intends to proceed to make a coinage of 4.000,000
franca in silver pieces by way of adjudication (stamping and supplying), which will
take place June #.
These 4.000,000 bancs are distributed as follows: Four hundred thousand pieces
of 2 leva, being 800,000 leva . 3.000,000 pieces of 1 leva, being 3,000,000 leva ; and 400.000
pieces of 50 stotinki, being 200,000 leva
DENMARK
Armtvrs to inUrrogatorxt*, 1909.
1. Amount of gold and silver coined during the calendar vtar 1909:
GOLD.
New coinage:
JO kroner.
10 kroner.
Total..
Number
of pieces.
Value-
200,030
216.716
416,7*. |
6, Iff. 740
Silver coinage: Nil.
1 oinago executed for foreign Governments or coinage executed by
other Governments for Denmark during 1909: Nil
4 Vfnm* *?ld *nd fine silver used in industrial arm during 1909 Nil
n i L™ U^: ,SUiles K°ld coin and amount of same deposited at mint and
melted during 1909; Nil.
REPORT DIRECTOR OF MINT.
175
5. Amount of gold ami nilvor produced from mine* of the country during 1900: Nil.
6 Approximate atoek of gold and ailver coin and bullion in the country on Decem¬
ber 31, 1909:
Kroner.
. 70,000.000
. 1, H00, 000
.... 23,000,000
(told coin (about). . . .
(told bullion (about) . . *••• •
Silver coin (about) —
7, Amount of Government and bunk notea outatanding at the end uf the year 1909:
Kroner.
Note* out* Landing .
Gold holding* .
Logal’tendcr ailver holding*.
128,000,000
«7,fino,ooo
6,600,000
8. There ii» no premium on gold.
9. Laws pawed during 1909 affecting the currency: Nil. |0ftK
10. A copy of tho report of the Director of the Mint for the ponod April 1, 1908,
to March 31, 1909, in ineloacd herewith.
11 (o). Importa and exporta of gold during the calendar year 1909.
Cloaalfirutlon and country.
Import*.
Export*,
Coin:
Kroner.
100,000
Krona.
Daniih Wnet India .
1,000,000
Norway . . .
3,000,000
Sweden . * .
Total.... .
llulllon, Groat llrUaln .
100,000
3,700,000
4,000,000
FINLAND.
Answers to interrogatories, 1909.
1. Amount of .Uvo, coined during thecatajjtar ye.r 8.6,000 piece. 26 penni
(0.28 markka), valued at 204,000 kinniab mark..
sMnS.’ during the . .lender year 1900. About
r?'Toid .0,1 .liver produced Com mine. oMhc country during 1W>: (No rep.y )
31, 1900:
Character of »tock.
(told coin .
Gold bullion .
Silver coin .
Silver bullion .
In publlo
trauury.
In ltonk of
Finland.
In dmila-
Uon. •
Finnish
marks
20,480
Finnish
marks.
10,028,610
600,000
2,853,7.10
54, 100
Ftnnuh
marks
15, 100,000
"12,250,000
170,400
19,487,400
27, 360, 0U0
176
REPORT DIRECTOR OF MINT.
7. Amount of Government and bonk notes outstanding at the end of the year 1909:
Repost op the Bank or Finland. December 31, 1909.
Finnish Baits.
. *,SH 27175
2,&a,73L25
449.OM.42
23,071.3*30
av.6^.a&44
2,443,S5i.«
Satm payable to beam In ctiruMtlon
Notes payable to order .
Grand total . . . . . . . . . 3®, .S’, 3* »
®^xPr^Efiun} 00 .!«»: No. Actual currency of the country: 'Cur¬
rency and values are not changing
banking WCre P“d dunng X*" 1909 affecting the coinage, currency, or
Nove^^l 9 un "Per*tiaas of mint: “Will probably!** published in
U («). Import and export of gold during the calendar year 1909
IMPORTS.
Gold «
To
To
To
To
Total . .
Gold bolttoo. to Ertctand '
V . - .
iSH®
1.7*
301. rs
9 JCW
JC.M»
.« SMisw ^jssfisiszs? 1909: SUvor buUio"
lr op Mint Coinages in the Archduchy op Finland, prom 1903 to 19*,
IvnJTflTVV
Denomlaatioa
1903
1904
1806
1906
' 1907
190b
Gold
fnuul
Fmauk
Faaiil
Famtsk
FnrsuS
Fmmak
a*-nnrk plena.. .
lo-mark pieces....
aorfc*.
2.1*0 000
"art*.
3.700.000
narlu
■MTts.
narks
rnarU
Silver . • .
3-eoark pieces...
. — -
1.0SO.QUO
430,000
1-mark piece. .. .
SO-penm pieces .
. . *•
.
4S.000
453.000
200.000
34* 000
300. rao
u; o®
P**»-
. . .
136.000
176. Clfi
CopiNr-
fei'iJS’
. - .
. .
70,000
174.000
SCO*
■»o ( go
1-pcanl piece . .
». 300
50. 700
nano
46.000
50.300
36.300
4.860
13.550
10 300
24.650 |
6.100
—
REPORT DIRECTOR OF MINT.
FRANCE.
Answer* to interrogatories, 1909.
1. Amount of gold and silver coined during the calendar year 1909:
177
Denomination.
New coinage and recoinage:
100 francs —
20 franco .
10 francs .
2 francs .
1 franc . .
SO centimes.
30,000
9,030.953
508,705
1.000.305
10,023,790
9.000,044
i 200. 72*. 340
i r»f which 7 483.H30 francs was domestic recolnage
. Of which lb WM6 franc was domctlc rtcoln^c.
Fob Tunis
Denomination.
Number ol
plocs.
2 franc. .
1 franc... .
3U9
703
1 003
SO centimes
Total.
2.009
For Inho-China.
Denomination.
Number of
pieces.
1 plaster
0 20 plaster .
0. 10 plaster -
9.201.143
500.(00
1.000,000
10.701 143
2. Coinage executed (or other government. during the year 1909:
For Montenrobo.
Pieces.
00,010
500.010
1 perper (silver).
560,020
For Slam
Pieces.
, . 1,036.001
uwnI ^in'th ."im'luf (rial art. during the year
X.QOq
Odd. . ***S
MW;;' ,^i cc-tp-, cold coin imixirted and deposited and melted at mint during 1909
* ^vtnltatiMicH<do' not class hi countries gold coin imported into the country, it w
^qhu^tly TmiZfblo to giv«y the .mount. .Nono melted at mmt.
72603° — 11 - 12
178 REPORT DIRECTOR OF MINT.
5. Gold and silver produced from mines of the country during 1908:
Classification.
Kilograms
(fine).
Value.
GOLD.
From refinery. . . .
From placer mining . .
28
1.008
770
4.008
3.140
16.415
61.164
1
Fnnci.
96.000
5.840,000
340.000
11.065.000
9,448.000
2.002.000
6,850, 000
Colonial prod action:
Indo-Chlna . . .
Guiana. .
Madagascar . .
SILVER.
From mines .
From refineries. .
The moat recent statistics are for 1908.
6. Approximate stock of gold and silver coin and bullion in the country on liecembcr
31, 1903 (a):
Cliaracler of stock.
In publk- in bant,,
treasuries.
Gold coin... .
Silver coin .
Franc*. Francs.
* 4 H10.000.000 * 3.4>7.<WO.OOO
■2.130,000,000 * 673. 3UO.OOO
Total. ...
6 930.000.000 4.360.300.000
1 *<»ount r®l»tlve to stock in France was made In 1903.
» In Bank of France on Dec. *1. 1009.
r 7n Government and hank notes outstanding at the end of the year 1909:
In Bank of FYanee, notes outstanding. 5.139.465.1:15 franca; gold holdings, 779,000.000.
not covered by legal-tender gold or silver coin or bullion.
8. Premium on gold: Gold was at par throughout the your 1909
hew.o th° "’‘"‘S'- C,UTCncy’ or b‘nkinR: R,'p0r' 10
ta& °f U C°“°" *
dar^ywu^ 1909^°^ aD<* exP°rt of import and export of silver during the calen-
GOLD.
Clarification.
Import*.
Export*.
Gold coin _
Gold bullion l.
Gold ore (including platinum
Gold manufactured articles
Franc*.
79.366.000
312,916.000
425. 000
6,437.000
Franc*
143.754.000
37, 314.0X)
2, 078.000
SILVER.
Silver win. . . .
Silver bullion 1
Ml 11? ft Ml
103.757.00)
1 *27.112.000
Silver ore
*1 . 114 . UUG
HA 74$ 000
niooo
,0X'n?fflJnT,,mP°rUM
From Italy. . .
From United 8 tales
From other countries .
1 2M.808 kilograms, of which 140.100 kilograms rat to England,
of origin. 1 H ,,ot *ndi< ato for imports and exports of coin and ore the country
Kilograms.
57.348
1.225
18.437
15,020
0,1?rom^E *Vrr *m Ported:
From fiefculm .
From Italy _
From other countries _
Kilogram*
. 31,03*
... 7,007
... 501.2*5
REPORT DIRECTOR OF MINT.
179
Bank of France.
MONTHLY VARIATIONS OF THE METALLIC REHERVE, PARIS AND BRANCHES.
I From Hullo tin do StAtlstlquo, Paris, February, 1810.)
Oold.
Silver.
Year and months.
Maximum.
Minimum.
Maximum.
^Minimum.
1008.
J turn .try .
February .
March .
r
June . . .
July .
August . .
September .
October .
November . .
December .
Franc*.
3,631,000,000
3,645,400,000
3,630,400,000
3,613,300,000
3,679,000,000
3.713,700.000
3.708,200.000
3,709,000,000
3,704.300,000
3, 643, 900, 000
3,624,200,000
3,563,700.000
Franc*.
3.488,200.000
3,026,200,000
3,697.200,000
3.581.100,000
3.011.300,000
3.683,000.000
3.693.400,000
3.691,000,000
3.648.900,000
3,019.400,000
3.562.100.000
3,506,500,000
Franc*.
888,100,000
889,200,000
890,500.000
891,000,000
884, 900.01-0
001,400.000
90\ son, ooo
908,700,000
905.200,000
902. win. 000
898.400,000
898,700,000
mmmmz
§8j!SilSl£l|*
iiiiiiiiiiii
GERMANY.
(Translation.)
The New Monetary Law (of June 1, 1909).
(From Bulletin do Stallitlque. Paris. September, 1908.)
law ol July 9, 1873, has been modified
of th° Germa,‘ EmpirU'
The monetary unit is the mark, dmdcd into 100 pfennigs.
Art 2. The imperial coins are the following.
^ .-ark pb*c.
"^mSJRSS: «•$*->* -ffirT' 5'p,t'nniK
\LCf *8£S5Jl\ C 3E a iSlognu/of «»« gold 130..-, pi.K,* of 20 mark,
279 pieces of 10 marks.
t»r th,. silver roin„, o( WO “"I""1 CdSK by the Federal Coun. il
Aar. 4. The oponmo" ‘ U»^v^ihr«id finone-i. of the coin,. If .ha.
They will determ ini exactl) . obtained absolutely for each coin, the allowance
weight and finene* have not be aa j weigj,t,and for the fineness, 0.002 for
above or below ®tn* jot ex< 'Se^M and 0 0M thousandths in the fineness for the
!rtlve^cdoiCn. B“dfor the ma*ee, the aeiBh«e and finene*.* must be in conform../
WiAh..Th5PThi-riKoV.I and dWeiroin. of a value of more than 1 mark, bear on one aide
Art. 6.1 bt g nn a inscription “Empire Allemand ” (“German Empire ). the
i^i^nonoH^eir value in murks and the date; upon the other side, the effigy of the
indication oil cmblam of the sovereignty of the cities at large, accompanied by
ahml!tabl inscription and the initial of the mint Other details of decoration, the
Horner of the pieces and ornamentation of the edge will be decided by the Federal
Coum il The Federal Council may make coins of 5. 3. and 2 marks with other
/irtri^ns under the title of commemorative coins ...... .
« The other coins of silver, copper, and nickel, will bear the indication of
their value, the inscription “Empire Allemand,” the indication of the year, the impe¬
rial eacle and the initial of the mint The arrangements of detail, with regard to the
apportioning of the distinctive marks upon the two faces of the coins, their decom-
180
REPORT DIRECTOR OF MINT.
tion, the ornamentation of the edge, as well as their composition, weight, aud diameter,
shall be regulated by the Federal Council.
Art. 7. The coins shall bo struck for account of the Empire in the different mone¬
tary factories of the Confederated States, which they shall ascribe to the coining. The
coinage and issue of the coins shall be under the supervision of the Empire. Indi¬
viduals shall have the right to have coinage made for their own account, in the mone¬
tary factories, of the 20-mark pieces, at a time when the factories are not employed for
account of the Empire. The rights pertaining to coinage of that nature shall be
determined by the chancellor in agreement with the Federal Council, but shall not be
permitted for more than 14 marks per kilogram of fine gold. The difference between
these rates and the indemnity claimed by the factories for the coinage is to be turned
into the treasury of the Empire. They must be the same for all the monetary fac¬
tories. The monetary factories are not to demand indemnities for this coinage above
that given by the treasury of the Empire for the coinage of 20-mark pieces.
The chancellor, also, in agreement with the Federal Council, shall determine the
amounts of coin to be apportioned to each monetary factory for coining and the uniform
indemnity to be charged by each factory for earn kind of coin. The acquisition of
metals designed for the coinage is to be made upon order of the chancellor.
Art. 8. Until further ordered, the total amount of the silver coins shall not exceed
20 marks, and the total amount of nickel and copper coins, 2 J marks per head of the
population of the Empire.
Art. 9. No one shall be obliged to receive in payments more than 20 marks in silver
coins, nor more than 1 mark in nickel or copper coins.
The cash offices of the Empire and of the individual States are obliged to accept
silver coins in payments without limitation. The Federal Council will designate the
cash offices which shall deliver gold coins in exchange for silver coins to the minimum
amount of 200 marks, and in exchange for nickel and copper coins to the minimum
amount of 50 marks. They will at tne same time arrange the detailed provisions for
these exchanges.
Art. 10. The provisions relative to the acceptance in payments and in exchange
(art. 9), shall not be applicable to pieces that are perforated or reduced in weight
otherwise than by normal wear, nor to counterfeit coins.
Art 11. Gold coins of which the weight shall be not more than 0.005 less than the
limit of current rate (art. 3), aud which have not intentionally or fraudulently been
lightened, will be considered valid for all payments.
Gold coins which have not the proper weight for circulation, and which have been
m P*yTn£ub by the cash bureaus of the Empire, by individual States, by the
Provinces, or by the people in general, as well as by institutions of credit and by the
banks must not be apm returned to circulation by cash bureaus or other institutions.
hlresult oflon^u^ long circulation, shall have been dirnin-
win ho 9UC“ ProlX) Jton that they are not of proper weight for circulation
heir vTm lf Zf,C0Un °f Lh? EmPire- The «*»• thus worn shall ho accepted f-r
\RT l > hr?’ a Cadl b™»Ve of thc Empirc and of the confederating States.
cu^n^E uE?**' ai^ nu*el C0lns whioh- hv result of long use and long cip
of indent iffoation e«h» 1 1* ^ on8l^r^b^e Portion of their weight , or have become difficult
l>ire aud of the ^ acc®Pt®d by all cash bureaus of the Liu-
Art. 13 The verifir^J * Ut ^ ^ bo for account of the Empire,
law shall be established l*u‘ pieces coined by virtue of this
for circulation of the ,.-,,,,0 equivalent to the lawful weights and the weights
,hat °J thf mu^biples of th£e weights. For the
ordinance for weights and meJures *eights they Wl1* emPloy regulations m thi
nwri4™?10 ,Fe?eml r°uiu'il is authorized—
^2) To render such derision*' of n ^tbdrawn from circulation,
ryoirculation under the rich. ^emed necew“y for maintaining the mom-
U’^r 'hviSt'condiUn.r
offered and accepted i 'n'n a vmp^R k l*!iC ^!,ru^n R°ld and silver coins shall no longet.h®
entirely. P paymenl3' and »•*> to prohibit the circulation of foreign win.*
Empire or the individual Siat'etid m *” Wmenta by cash bureaus of jhe
and if ao to determine that rate tenor transactions at the rate officially published,
shail 'dictate" t h o ' nu aasurointolbo take °U *ig* circula,:°n(No. 1), the Federal Council
shall be of two years Thi ir nut tin*™#*0* that effect *• tho delay for tlicir retirement
of tho public hv tho l^i.kJiP^AV^^i^^turency shall he lm.nohf to the knowlcd*
REPORT DIRECTOR OF MINT.
181
Art. 15. (1) All payment* which, before the adoption of the imperial monetary
unit, had to be made in coins of an individual State possessing another monetary unit ,
or in foreign coin lawfully assimilated to those coins, under reservation of the regula¬
tions in article shall be made in coins of the Empire.
(2) In that which concerns ^oid coins of a class for which there is no lawful relation
with silver coins, the conversion is made according to the relation of the lawful fine
weight of fine gold in the coins with that which the contract for payment has estab¬
lished as tho lawful fine weight of coins of the Empire.
For the conversion of other coins: The thaler to be calculated for 3 marks: the florin
of south Germany for 14 marks; the mark of Lubeek, and the current mark of Ham¬
burg, for H marks.
Other coins of the same origin will be convertible at the same ratio following the
value which they represent in the system to which they appertain. For conversion
into fractions of a pfennig from the imperial monetary unit, they shall be calculated at
the ratio of one pfennig if they represent a half pfennig or more; fractions below a half
pfennig shall not be considered. . ...
(3) If obligations for payments were contracted after the adoption of the imperial
monetary unit in coins of the old monetary systems of the individual States, or in
other lawiul coins, the payment must be made under reservation of the legulations of
article 9, in application of the prescriptions of No, 2.
(41 In all judicial or notarial documents where mentibn is made of amounts of silver
like all judicial decisions adjusted to the payment of a sum in silver, if the relation of
that sum to the monetary unit of the Empire is legally fixed, they must be expressed
in values of that unit, but it is permitted, nevertheless, to express it in the com which
is mentioned in the obligation. , „ . .... . ,,
Art. 16. The law of December 4, 1871, regulating tho striking of gold coins of the
Empire, the monetarv laws of July 9, 1873, June 1, 1900, and May 19, 1908, modifying
the monetary regime, are repealed . All references to the regulations of the repealed
laws are replaced by references to the corresponding regulations of the present law .
[Translation ]
Answers to interrogatories, 1909.
1 and 2. Amount of gold and silver coined in 1909: During the calendar year 1909
the imperial gold coinage, including recoinage, was as follows:
Denomination.
Pieces
Value.
5, 502,904
t. 173.40s
Marks.
111.250,280
11. 734.0X0
0,730,372
122, 003, 3(10
Weight of some:
Kilograms (fine).
. 0. 42x0
KJS -■> *•» *«“ *« “M - h“" •—
token from the vaults of the Relchsbank .
. 7.423.1702
During the calendar year 1909 the imperial silver coinage* was as follows:
SILVER.
Denomination.
Pieces.
Value.
SO, 000
Marks.
13,037. SW)
125, 000
7,026,240
0.571,647
1 mark . .
50 pfennigs . .
Total . .
30,410.35ft
1 53.224.702.50
182
REPORT DIRECTOR OF MINT.
The silver coinage was made principally from silver hare purchased at the average
current market price during the year 1909.
No gold coinage was executed at German mints during 1909, but silver was corned
for German East Africa as follows:
Rupee*.
Vrupe# piece* . — . 'JOO.uuo
A-ropec piece* . - . JO.Ouo
f-repee piece* . . . 50 000
Total. . . ~ . 300, 0Gu
No coinage was executed at other mints for Germany during 1909.
3. The amount of gold employed in industrial arts during the years 1906 and 1907
was as follows:
iwc
Carats gold coins...
J Serb
I 4i 665 .000
Marks.
49.371 000
Foreign goW coins...
1 540 Q£iu
2 006.010
40,99.000
Fine gold .
JJ 506 0UU
Tool .
S3 731 09;
91.66 flO#
4 . The amount of gold coin imported from the U nited States during 1909 is given in
the answer to 11 (a). No United States gold coin was melted at the mint during 1909
5. Amount of gold and silver produced from mines of the country during 1909
GOLD.
Pftltt— .
Weight. Value.
From domestic rokl are* . . .
From foreign gold ares . .
Kt Mframs.
104. 14
550.02
4.401.12
5,064.2h
From foreign tod domestic tweept .
TotaL . .
14.147,0*
—
SILVER
From <V»ae*Ur aiTer ores. __ _
Fro. jarw^oro*. .;;; .
hwWpMddwrtciwwp,..
Trrfol - - - -
. - . . 400,561. S3 28.ir OW
8tOCk ^ gold 8ilver coiD *ud bullion in the country on Decern-
Ftork ci GokL Gold coinage and recointgp up to the end of December. 1900 4.545^^1^
- - rzr-sggg
Total . . . ~~
StorkotaOror . . . . . . flB.0^ W-9'
yew I90&U°l 223*633 J01*9 outstanding at the end of the calendar
Lut^er^S^^ £ ^n1 457’409-000 — “* «"«*d *
to °U'ft*fdin* jpOMOOOOO marks, which are eoual
bear no interest. com which the Empire holds in reserve, and the)
8. There is nopremiom on gold.
Tlie fundamental law^of thT'r.j^.M909 a®*rt*n* the coinage current , nr hankie:
OI Ule P«*ent monetary system of Germany is that of June 1
REPORT DIRECTOR OF MTNT.
183
1909. abrogating the law of December 4. 1871, regulating the striking of gold coins in
the Empire, the monetary laws of July 9, 1873, June 1, 1900, and May 19. 1908. modi¬
fying the monetary system. All references in the arrangements of the abrogated
laws are replaced by corresjxjnding references in the arrangements of this law-.
The standard is gold monometallic, and the monetary unit the mark of 100 pfennigs.
Two thousand seven hundred and ninety marks are manufactured from 1 kilogram of
fine gold. Hence mark, or monetary unit, contains 0.358422939 grams of pure gold.
The maximum coinage charge for individuals is 14 marks in the case of 20-mark
pieces per kilogram of fine gold.
The silver coins of the new system, 0.900 fine, are 5-mark, 3-raark. 2-mark, 1-mark,
and 50-pfennig pieces, 5 grams of fine silver to a mark. The coinage of silver is solely
on account of the State. The total coinage of silver was limited to 20 marks per capita
of the population of the Empire. Silver is legal tender to the amount of 20 marks. All
these corns are exchangeable for gold at the public treasuries.
10. No report on the operations of the mint is published.
11. Import and export of gold and silver during the calendar year 1909 was as
follows:
SILVER.
Country of origin
and destination.
Silver . fine, al¬
loyed, and in
dust and bars.
Imports. Exports.
Belgium .
Denmark .
France . .
Great Britain.. . .
Italy .
Netherlands. .
Norway .
Austria-Hungary..
Russia in Europe. .
Russia in Asia -
Finland .
Sweden .
Switzerland .
Servla .
Cameroons .
Persia .
Slam .
Bolivia . .
Chile .
Mexico .
Peru .
United States o
America .
Other countries..
2.754
003.842
2, 172
3,093
Total
Kilos.
'9,145
13,100
(i8,9i;
4,096
6, 162
6,919
61,882
90,686
20,340
1,797
11.975
24,971
Im¬
ports.
Kilos.
3,087
15,253
343,892
22,870
10.143
Ex¬
ports.
Silver
sweeps,
etc. •
(broken
and
scrap
silver).
Imports.
Kilos. Kilos.
09,126
1,600
3,369
47,534
2,713
9,495
67.854
138,141
Gold
and
silver
not
speci¬
fied.
Im- Ex¬
ports. ports.
Kilos.
1,573
947
1.050
Kilos.
1,847
’2,094
4.115
20,542
4,654
539
75,816
141,184
677
10,430
3,503
42.347
Imports.
Kilos. Kilos.
Ex¬
ports.
350.000
194,000
234,700
1,577,800
> Exports Included in preceding column.
184
REPORT DIRECTOR OP MINT.
GOLD.
Country of origin
and destination.
Gold, fine,
alloyed, and
in dust and
bars.
Gold coins.
Gold sweeps,
waste, etc.
Broker
and
scrap
gold.
i
Gold ore.
Im¬
ports.
Ex¬
port*.
Domestic.
Foreign.
Ex¬
ports.
Im¬
ports.*
Im¬
ports.
Ex-
ports.
Im¬
ports.
Ex¬
ports.
Im¬
ports.
Ex¬
ports.
Im.
ports.
Belgium. .
Kilo*.
Kilo*.
Kilo*.
1,368
Kilos.
Kilos.
Kilos.
Kilos.
Kilos.
Kilos.
Kilos.
Kilos.
Bulgaria .
57
Denmark .
81
1,720
40.992
80
775
80
3.615
712
334
1,407
250
1 1,423
j 3,970
France . .
Great Britain .
Italy . .
487
2.956
417
10,015
1,463
5,018
224
57
49
723
147
120
338
3,210
7,383
1.444
Netherlands .
Norway .
91
146
Austria-Hungary . .
I tollman la .
233
036
| 1,722
714
238
6,371
2,328
5,428
273
167,825
4,099
1, 775
Russia in Europe. .
Russia in Asia .
3,414
59
200
25,775
9,346
56,446
2,524 1
Sweden.... .
2,432
Switzerland . .
Turkey in Europe.
844
120
165
53
638
5,075
13,276
278
British 8. Africa. . .
Dutch East Africa.
Korea .
10,310
0$
124 400
China .
Argentina .
365
8,659
3,040
3,397
397
Brazil .
Colombia .
70
145
Honduras .
Dutch Australia. . .
1,598
134
Other countries _
Total .
63
138
39
60 1
118,463
7,273
739
33'soo
73,517
34.300
12.537
40,505 1 10,309
17,471 2
142.734 1
10.447 j
27,141 1
77.300 .
1 Exports included In preceding column.
REPORT DIRECTOR OF MINT.
185
GREAT BRITAIN.
Value of the Registered Imports of Gold and Silver Coin and Bullion
into Great Britain, 1905 to 1909.
Country whence imported.
Gold coin and bullion (total value).
Sweden..
Germany .
Netherlands .
Belgium .
France .
French West Africa..
Maedagasrar. .
Saltier land . .
Portugal, Azores. and Madeira.
Portuguese East Africa .
Spain and Canaries. . . . ..
Italy .
Austria- H ungary .
Roumania .
Turkey In Europe. . .
Turkey In Asia .
Persia .
China .
Japan .
United States .
Colombia and Panama .
Venezuela .
Peru .
Chile .
Brazil .
Uruguay .
Argentina .
Other foreign countries .
Total foreign countries.
Channel Islands .
Gibraltar. .
Malta and Goto . ....
Cyprus .
British Africa (west coast) . .
British South Africa .
Aden and dependencies .
British East Indies .
B traits Settlements .
Ceylon and dependencies -
Hongkong .
West Australia .
South Australia .
Victoria . .
New South Wales .
Queensland .
Tasmania......... .
New Zealand .
British West India Islands.
British Guiana .
Other British possessions.
$41,755
9,344
3,736,489
1,041.864
161.342
1.473.245
112
12,653
166,473
203,478
67,382
322,819
155,947
314.605
1,511,798
$34, 162
462
10,706
8,566,588
3,815,944
167,914
16. 249,025
170
9.977.128
8, 108
5.280
244,274
194,324
126,787
314,580
153.728
100.959
139.936
003.397
39
3,070.307
217.138
661
104,615
1,620.539
193,127
6.594
162.327
1,978,033
2,433
5,485
354,315
338,923
991,588
273.030
39,584
66,744
1.886,616
2,586,973
167,563
40.411.191
$79. 197
1,217.112
021,257
36,082,680
3,234.539
367.518
25.201.579
5.460
$372,316
$218,409
17.018
1.048,371
1,797.033
134.242
982,084
584 ,
243
3,668,353
4.314.649
139.776
21.271.730
973
255,009
639,877
46.679
150,239
127,892
1,394,325
9.714
1,021,965
143,221 i
1,580,518
195,400
251,180
96, 464
200,334
27.739 I
957,022 i
10,113.940
127,770
15. 149,604
29,384
390, 376
406.207
143.440
172,542
156,31.1
842,790
15,840
394,021
1,217
17.700. 113
3,845
309,105
3,175, 153
1,116.623
177,097
7.056
57,902
1,931.597
008,313
592,321
1,610.923
33.199
14,353 .
559. 190
1,402,642
89,948
213, 390
110. 844
2,158.950
2.044
99,924
627,569
100,828
14,384,328
1,380,508
215.654
9,387
45,886
2.582,272
445.854
90.282.851
28,294,576 69,003,715
324,200
174,900
291,990
2,885,572
103,984,077
Total British possessions..
Grand total . - .
33.337.277
1,043.079
6.935
1,703
11,712.225
54,748
530,118
860. 191
3.320,873
279,872
244.970
111,929
1,119
3,850.738
125,542,303
730
15,708,050
1,903,043
18.G68
3.197,707
5,450
807,489
1,432.099
63.265
104,052,624
187.090.ti60
19,455,029
851.038
7.121.558
3,296.000
2. 635. 161
224.083
062, 146
584
230.935
1.445.681
54,508
183, <>56, 071
224,006.262
265,117
245,315
125,004
2.005
5.740.173
144,128.225
10,387,734
1.123.242
290.053
158,288
151,621
803
5.525.127
155,432,903
27,252
11,718,936
2,358,126
14,835.350
145.995
1,711.003
1,776.039
2,322,771
202,572
2,975,884
8,451,349
55.965
1,941.179
2,022.371
537,305
434,204
4,467,037
161,071
1,267.173
63 007
197,390
1,402.808
152,156
187.538,502
277.821,413
196,271,506
224 5nii 171
780,791
2,227.065
945.506
09,688
5,207,500
2,550
118.704
1,237,877
214,087
186
REPORT DIRECTOR OF MINT.
Value op the Regifttered Imports ok Gold and Silver Coin and Bullion
into Great Britain, 1905 to 1909 — Continued
Silver coin and bullion (total value;.
Country whence Imported
Sweden.
Denmark.
Germany
Netherlands
Java and other Dutch
Belgium
Prance..
French West Alrica.
Switzerland . .
Portugal, Azores, and Madeira
Portuguese East Africa
Spain and Canaries
Italy,. . . .
Austria- FI ungarv .
Turkey in Europe .
Turkey in Asia..
fSSL:.
Persia.
China...
United States
Colombia and Panama .
Peru..
Chile.
Brazil. . .
Uruguay
Argentina ...
Other foreign countries. . |
Total foreign countries.
Channel
Gibraltar..
Malta and Goto . .
VrGsh West Africa.
Rhodesia .
Cape of Good Hope
Natal.. ..
Transvaal _
Aden and dependencies
British Indla^^
Straits Settlements .
Hocgkonjc
West Australia. .
\ ictoria. .....
New South Wales
New Zealand
Canada .
Newfoundland
British Weat India Islands .
British Guiana
Other British
REPORT DIRECTOR OF MINT.
187
Value or the Registered Exports of Gold and Silver Coin and Bullion from
Great Britain. 1905 to 1909.
Country to which exported
Gold coin and bullion (total value)-
Jara and other Dutch possessions.
French West Africa
11.703
973.300
1,714.249
4.035.608
586,413
1,211.939
7.709
60, 548, 487
48,800
Portugal, A cores, and Madeira - 190, Wf*
Spain and Canaries.. • —
l5y. . 2,433,250
583, WO
1. 450.950
Peru. .
Chile . .
Brarfl . .
Uruguay .
Arrentina ....
Other foreign countries .
Total foreign countries.
8,842.430
192,227
872,349
560.381
10.430,642
12,971.490
10.368.315
1,258,666
GIhraltar..
Malta and Goto .
British West Africa.. ..
Cape o( Good Hope. - - - - -
Natal .
Transvaal .
Aden and dependencies. .
British India. .
Straits Settlements . .
129,150,923
36/27^
593.713
545.291
64.96>
121.663
194.660
3,407
19,125.695
170.328
Near South Wales .
Canada ..... .
British West India Islands .
Other British p™**4™*
$8,248,285
700,776
1,1— _
368,696
938,991
2.6J6.522
22,490,291
64,063
13.603.216
2,223,436
1.056,031
7,470
79,923
409,759
1.790,872
243
291.990
2,239
437,985
5,156.490
30,586,176
3, 168.082
*75.970
7.427.252
22,2*K,7»
3,042
69.048,209
1,368,367
976,731
13,613,985
11,119.953
9.688.593
1,193, AO
», 323.688
53.532
1,311.011
136.362
17.770.604
1O.7TE.803
6,667.105
786.037
1W, 948,208
773,774
462,318
119,443
98.060
170.325
6,935
22.7WJ.992
2.677
214.389.348
165.033
535.549
97,948
9,733
29,821.912
1,766.578
5,840
95.383
$14,273,445
1,824,938
2,212,871
16,721.859
1.734,197
1,147.852
79.324
127.561,112
12,784
2,411.351
97,330
1.294
194.660
6,706,037
583,980
2.919.900
8,370,380
15.013
3.662.270
* 487
. 12,220
1.309.711
23.042.488
6,477,443
1,053,597
224.436.543
526
97.330
$11,424,109
975,232
37,687.990
704,005
574,174
108,995
38.080.440
7,110
243
484.217
198,310
5,056
2,920
28,698,054
399,320
8,540.708
19.952.845
5.864
W0
17.763
19,271
545.535
14.687.783
IS, 882, 020
30.013.335
19,466
291.900
1,046
316,323
158,161
145,995
2,433
25,919.320
5,660
104,630
188
REPORT DIRECTOR OF MINT.
Value of the Registered Exports of Gold and Silver Coin and Bullion from
Great Britain, 1905 to 1909 — Continued.
Country to which exported.
Russia .
Sweden .
Denmark .
Germany .
Netherlands . . .
Java and other Dutch possessions.
Belgium .
France .
French West Africa .
Switzerland .
Portugal, Azores, and Madeira —
8pain and Canaries .
Italy .
Austria-Hungary .
Turkey in Asia .
Egypt .
Morocco .
Persia .
China .
Japan .
United States .
Mexico .
Colombia and Panama .
Venezuela .
Peru . .
Chile .
Brazil . .
Uruguay .
Argentina .
Other foreign countries .
Total foreign countries. .
Channel Islands.
Gibraltar..
Malta and Oozo. .
Cyprus.
British West Africa. . . .
Cape of Good Hope
Natal .
Transvaal .
Aden
British India. .
Straits Settlements.
Ceylon _
Hongkong _
West Australia . .
South Australia.
Victoria _
New South Wales
Queensland. . . .
New Zealand .
Canada.
New foundlaud
British West India Islands.
British Guiana _
Other British possessions. .
Silver coin and bullion (total value).
*19,241,009
00,345
00,072
2,020,152
101,515
14,653
3,374,509
2,784
335,205
21,820
702,240
361,273
2,707,380
389.320
973
43,799
2,093
827
973
1537,031
92,464
1,400
1,572,590
72,409
143,075
0,280,287
14,419
352,841
827
30,279
24,946
936,427
49,940
729,975
1*757
143,528
97,330
219
358,544
2,574
12,063
11,458,185
Total British possessions . 41 , 402, 794
Grand total . . 1 70,864,402
*49S,227
87,597
36,279
1,793, 101
46, 480
7,396,710
1,548
3,893
371,226
1,022
487
1,582
15,792
1,557, 61G
28,420
1,830,777
3,212
288, 535'
105, 116
197,093
1,228,290
448
97
15,483,937
*1,775,251
145,995
3,484
2,428,807
29,491
49,541
033,618
3.532,894
238
18,006
719,244
9,091
33,263
458,200
338.952
3,539,405
976,210
257.925
98.371
160,595
707,613
6,326
1,314
247,364
16,233,022
*5,000.465
01,654
2,292
6,718,296
34,241
43, SB
2,052,651
958,832
409
165,753
69.143
351,240
510,009
9,364,119
23,286
362,579
2.433
652
298,691
26,021,030
REPORT DIRECTOR OF MINT.
189
GREECE.
Answers to interrogatories , 1909.
1. Amount of gold and silver coined during the calendar year 1909: None.
2 Comoro executed at foreign mint* for Greece during 1909. None.
i Estimated amount of gold and silver used in industrial and belted
4. Import of United Staton gold coin and amount deposited at mint and melted
<*'5U(jo'ld*an<f silver produced from mines of tho country during ’^Ir^ durincTooU-
6. Approximate aleck of gold and ailvor com and bullion in the country during 1909.
U “‘“Amount of government and bank notes outstanding at thc.cnd of the year 1909:
Drachmas.
. 75,775,975
Government notes . 68,061,652
Note* of banks of issue . . .
• 142, 487,627
Total . . .
8. There is no premium on gold, but the actual currency of the country (paper)
fluctuates from par to above par .
Premium during 1900: . 106. W
Highest . 100.00
Lowest . 102.98
Average . .
9. No la, vs were passed in 1909. A convention s, ^'“^owever withdje
Latin Union calling for the replacement .of n£kel and' copper now
ff '£“l££ to -k^=^«ccti™3 now settle condition, in the
country.
ITALY.
Ansuer to interrogatories , 1909.
1. In 1909, 17.374 kilograms „i milver were used for coining .-lire piece, for a total
“°UCcoin,^ n° r°inW> "* "X<“'",0d (°r ,U‘y
by3!°T?b«1,™*Kg of B^iSjLJSSethere are no'^iablo SemMds^fOT^ing an answer
tho free regime being in existence th re are mm. durjnR ](J0!)
5. Golfcdxwrerfremm!he mi^ of the Kingdom amounts to 28.52 kilograms
8* 'e'6 Situation of* the gofdand* si Ivorooi ns held by issuing bank, on December 31, 1909
Claarifloatioo.
Bank of Italy.
Lire.
950.830,800.93
Gold coins . * v it (mm) fine .
90, 336, 980. 00
Silver coin*, acudi ^V^iJ^TunSy '
Fractional coins having legal currom >
4,651,193.50
Rank of
Naples
Lire .
196.534. 205. 90
14, .328, 755. 00
1.706.308.00
Dank of
Sicily.
Lire.
56,213.908.
3.730.300.
566.397.
f!88
190
REPORT DIRECTOR OF MINT.
Metallic Stock of the Government.
Classification.
Nominal value
in lire.
Gold coins:
>342,686.730
> 11, 069. 787
Total .
353.756,517
Gold bullion .
398. 107
Silver coins:
Decimal-
Legal fineness 0.900 .
•102,551.725
•6,480,238
*869,300
• 1,209.949
•404,772
Legal fineness 0 835 .
Legal fineness 0.900 ( Eritrea Colony) . . . .
Legal fineness 0.835 (Eritrea Colony) . .
Nondecimal . . • . . .
Total .
111,515.985
3,029,671
*7,061,157
* 2,600.972
Silver bullion . .
Nickel coins .
Bronze coins .
i Including on Dec. 31, 1909, 87,464,283 line, being at the Bank of Italy for the sen-ice of provincial treas¬
ury ; including, moreover, 174.92S4.x20 line, being at the Bank of Deposit and Loans, of which 152.566.220
lire was a special reserve for 411,250,000 lire of notes issued by the Government and 22,361,900 lire for the
operation of the Bank of Naples, in pursuance of art. 8 of the law of Jan. 17, 1897, No. 9.
* lauding on Dee. 31, 1909, 101.&I.130 lire In acudi (Wire pieces): 5.246,837 lire in 1 and 2 lire pieces:
624,325 lire In coins of the colony of Eritrea (Wire); 14.045 lire In smaller Eritrea Colony pieces, and 174,000
lire in Mari a- Theresa thalers, belonging to the treasury and existing in the Bank of Italy.
* Including 3,956,966 lire existing at the Bank of Italy.
4 Including 2,443,246 lire existing at the Bank of Italy and belonging to the treasury.
7. The Government notes circulating in the country- on December 31, 1909,
amounted to 432,924,715 lire, with a gold reserve of 174,928,220 lire. Bank notes on
the same date amounted to 1,931,663,450 lire, with a reserve of 1,491,820,102.03 lire,
of which 1,203,578,975.61 were in gold; 124,319,893.30 in silver, and 163,921.232.92
lire in securities allowed by law7 as a guarantv for circulation.
8. In 1909 the average exchange on Paris was of about 100.4388 lire, with a maxi¬
mum of 100.7250 lire and a minimum of 100.0750 lire.
9. In 1909 the following provisions affecting the metallic and paper monev were
issued: Royal decree, January 28, 1909, No. 95, authorizing the issue of 4,000,000
bronze come in Italian Somaliland; royal decree, April 1, 1909, No. 209. approving
the type of bronze coins for Italian Somaliland; law, June 10, 1909, No 358, approv¬
ing and rendering executive the monetary convention for Italy signed at Pans on
oA’ *90?’ between the states of the l^atin Union; royal decree, June 13,
1909, No. 361, which provides for the withdrawal from circulation of the mixed nickel
20-centesimi coins; royal decree, September 2, 1909, No. 684, for the coinage of new
81 inF 2 -,re P,eoes UP to the amount of 9,000,000 lire.
e BPec‘al reports on the works of the mint are published. A report on mines
for 1909 is separately transmitted.
1909 ^ Imports and exports of gold and silver during the calendar year
Countries of origin.
I nwrought cold.
Austria-Hungary .
France .
Germany .
Great Britain . .
Switzerland.
Haiti and Santo Domingo
Malta .
Central America .
Imports. ! Exports.
Kilogram*.
20
2.G39
2,428
37
Total
REPORT DIRECTOR OF MINT.
191
Countries of origin.
. 1
Imports.
Exports.
OoW coins:
Austria-Hungary .
France . .
Germany .
Kilogram ».
30
177
732
Kilogram*
96.5
3,148
2.337
50
Great Britain... . .
Switzerland . . .
Venezuela . . .
Tripoli . . . . • . .
Netherlands . .
Montenegro ...
34
1
2
311
6
4
1
Russia .
European Turkey . . .
19
38
976
6.888
Unwrought sliver:
Austria-Hungary’ . . .
50
31,295
80
31.031
France . . .
6.399
389
Germany . .
320
377
2,633
Great Britain . . . .
Switzerland.
1,082
55
Uruguay
7
4
. . .
Montenegro . . . . . - * - ••••***
6
39. 208
34.520
Silver coins:
Austria-Hungary .
France . .
06
1,673
226
35
1,141
186
447
5,775
13. 190
22
Great Britain ...
42.113
Portuguese Africa.
Malta .
United States .
40
7
0
Tripoli
Netherlands . .
German East Africa.
Spain . <
European Turkey.
11
92
. 9
'** . 5
1
3,507
61.568
12 The modifications introduced in the
following: The royal decrees February • > f '^-ccntemmi coinsand mixed nickel
have provided for the withdrawal of V Janu“ 15 190s, No. 22, authorized the
20-centenimi coins; and the royal d pureUauce of the law of July 9, 1905, in the
issue of pure nickel 20-centemmi pieces, in pursuance
reorganization of small circulation
[Translation ]
Decree
Koval decree o, Juuo 13. .909. ordering the retirement free circulation of .he
20-centeaimi nickel (aUoycd) P>«“- arranging for the iwuc of 20<-enU*imi
In consideration of the law "‘(deration of the law of July 9. 190S, conrerorag £c
nickel (alloyed) pieces; “„ur decree of January 23, 1908, authorising the
i’iuoV'ure’SckS 20^ eniSimi pieces and arranging the eond.Uons for their manu-
Eure. ‘ ministers agreed upon the preposition of our minister secretary of
The council of minisurs ok willed ana decreed: , ,
fnr thp treasury, and wt_na _ issued in virtue of the law
192
REPORT DIRECTOR OF MINT.
From July 1, 1910, to, June 30, 1914, the 20-eentesimi piecee of nickel alloyagc will
be exchanged at the treasuries of the Kingdom against the new centesimi pieces of
pure nickel, for bronze coins, or in their deficiency, for all other lawful coins.
The coins which shall not have been exchanged on June 30, 1910, will lose their
value.
Ordered.
[Translation.]
From the Report of the Mining Corporation of Rome we have obtained the following
statistical data for 1909:
Gold produced from mines of Italy during 1909, 2,890 tons, valued at 91,150 lire
(12 m-ama of gold to the ton).
Silver produced from Italian mines during 1909, 44 tons, valued at 67,800 lire (1.85
per cent of silver to the ton).
Product of gold from metallurgical works during 1909, 15,136 kilograms,1 of the
value of 34,000 lire; silver, 20,534 kilograms 1 of the value of 1,785,875 lire.
Silver extracts from argentiferous lead, 93 tons (800 grams of silver to the ton),
valued at 17,364 lire.
Silver extracted at metallurgical works in the environment of the city of Genoa,
from argentiferous lead, during 1909, 18.000 kilograms, valued at 1,566,000 lire.
Silver extracted by cupellation, 2,534 kilograms, valued at 219,875 lire (at 86.77
lire per kilogram).
.Silver extracted from argentiferous zinc, 229 tons (350 grams of silver to the ton),
valued at 248,353 lire (Average price of silver per kilogram during 1909, 86.738 lire.)
There was an increase in the value of gold produced from all sources in 1909 over
1908 of 149,965 lire and a decrease in the silver product of 100 lire.
Importation and exportation of gold and silver through the customhouses during
Crude gold, in bars, dust, and scraps: Kilograms.
Imports . ... 5.490
Exports . 8,517
('rude silver, in bars, dust, and scraps:
Imports . 39.2W
Exports . 34.470
MOROCCO.
Answert to interrogator ie*f 1909.
t of gold and silver coined during the calendar year 1909: None. (Infor-
lource of which is not mentioned herein, has been furnished by the British
ka “Ron/in/, .1 » If _ > »
1. Amount c. 6v,.
mat ion, the source c. uul uurmium;
director of the “Bangue d’Etat de Maroc.”
2 (A) and (B). Coinage executed for other governments, or coinage executed by
>ther governments for Morocco during long-
silver coin is believed to be melted down for the same purpose, but to what extent is
uuascertainable. (The Comit6 des Douanes has been consulted, but has been unable
to add any further information.)
N ®tatee 8°ld coin imported and deposited at mint and melted during 1909
o. Amount of gold and silver produced from mines of the country’ during 1909
None.
qi^ of gold and silver coin and bullion in the country on December
31. 1909: Oold coin, unknown; silver coin, 978,330.30 rials (in State Bank oulv^i
silver bullion, unknown.
It is impossible to know the amount of either “Azizi” coin or “Hasaani ” coin in
circulation. It is believed that 8,400,000 rials of “Azizi” and 10,000.000 rials of
lassani were coined, but more exact information might possibly be obtained from
Rraunschwig and Haessner and Joachimsohn as to the former and Moses
Panente as to the latter, these having been the contracting firms.
Thom mOUI' c Government and bank notes outstanding at the eud of the year 1909
1 here are no Government or bank note*.
1 AU extracted from native ores.
REPORT DIRECTOR OF MINT.
193
8. Premium on gold for 1909:
Percent.
Hfcbwt . fig
Lowest... . 43
. 5L4
The actual currency of the country is silver.
9. LawB passed during the year 1909 affecting the currency: None.
10. Report published on operations of mint: None. (There is a mint at Fez which
has occasionally struck copper coins. The silver in circulation was coined at Paris,
Birmingham, and Berlin.
11. (a) Imports and exports of gold coin and bullion during 1909: The Commission
des Douanes informs me that no gold was imported or exported during the year through
the customhouse; what amount of gold may have entered the country in postal par¬
cels, which did not pass through the customhouse, is unknown.
11. (6) Imports and exports of silver during the calendar year 1909: The Commission
dee Douanes has furnished the following statistics, which are incomplete, as a con¬
siderable quantity of silver was imported in postal parcels and did not pass through
the customshouse.
Gold imports from— Franca
Tangier . 24,557=14,911. 46
Larache . 3,251= 650.20
Rabat . 934= 186. 80
Casablanca . 10.316= 2,063 20
Matagan.... 938= 187.G0
Sail . 6,037= 1,207. 40
THE NETHERLANDS.
Answers to interrogatories , 1909.
1. Amount of gold and silver coined during the calendar year 1909:
Denomination.
Number of
pieces.
Value.
136,203
Fiorina.
773,633.04
8ilver (recoinage):
2.000.000
3,000,000
4,000,000
5.500,000.00
lo.’oooiooo
2. Coinage executed for other governments or by other governments for the Nether¬
lands during the year 1909: None. . . . .
3 Estimated weight of fine gold and fine silver used m the industrial arts during
1909 Gold 31 734 fine ounces; silver, 472,228 fine ounces (can not be specified).
4 United States gold coin imported during 1909: Can not be specified For total
amount of import and export of gold and silver vide answers to No. 11 (a) and (6).
5 Gold and silver produced from names of the country during 1909: Figures and
particulars concerning the colonial production of gold are given by the minister for the
colonies direct to the American legation at The Hague The production of silver is
°f Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909:
Character of stock.
In banks.
In circulation.
Fiorina.
31,144.350
W.8S0.650
35,504.973
Fiorina.
47,800,000
Gold bullion . . . . . .
95,579,000
156,619,973
143,379,000
72663°— 11 - 13
194 REPORT DIRECTOR OF MINT.
7. Government and bank notes outstanding at the end of the year 1909:
Florins.
Banks of issue: ^
KMSKE1 “* . ::::::::::::::::::::::: ::::
.
8. There is no premium on gold. _ . ..
9. Laws passed during 1909 affecting the coinage, currency, or banking None
10. The annual report of the mint is regularly sent to the Director of the Mint,
^ lMof Import and export of gold, (6) import and export of silver during the calendar
year 1909:
GOLD.
Classification.
Imports.
Exports.
Florins.
25.D85.5fi2
; Florins.
492.338
L, 877, 387
9.805
86,500
2,300
! -
1,048.065
5,498,827
9,805
Bullion * .
383,854
1,644
280
_
« The different countries’ import and export of gold and silver can not be specified. The figures given
an? those supplied by the official report of statistics. Especially those of the export are of little value as
regards exactness.
12. Description of the coins of the country: . ,
The fundamental monetary law of the Netherlands at the present time is that ot
May 28, 1901, altered by the law of December 31, 1906. ,
By the law of November 26, 1847, the Netherlands adopted the silver standard and
maintained it in force until 1872, the monetary unit being the silver florin of the legal
weight of 10 grams, 0.945 fine.
In 1873 (May 21) a bill was passed to suspend the coinage of silver on private account.
This suspension lasted until May 1, 1874. In December of this year the coinage ol
silver was suspended anew, first, provisionally, and afterwards, definitely, and, tor
the time being, Holland had really no metallic standard of value, for gold was only ) n
commodity. The balance of the indebtedness happened then to be favorable to Hol¬
land, and the foreign exchanges fell considerably. In order to arrest this fall a bn*
was passed in 1875 (June 6) opening the mint to the public for the coinage of gold,
making the new standard coin a 10-florin gold piece, weighing 6.048 grains of fine gold,
thus establishing the ratio in coinage of gold to silver of 1 to 15.625.
Holland is usually classed as a double-standard country It would be more correct
to say that it has a gold standard conjointly with the circulation, as a legal-tender, o
the nxdaler, gulden, and half gulden. The currency is in the same provisional estate
of the so-called limping standard as in France, but the balance of indebtedness having
also been rather in favor of Holland, no inconvenience has been felt arising out oftn
9 if Hoi-
- - - weight <
stamped.
The coinage chaiges are for gold 5 florins per kilogram. 0 900 fine, equal to 5.50
kilogram fine, or 3.33 per mille. The mint is not bound to accept less than
100 kilograms for coinage of ducats, nor less than 300 kilograms for coinage of 10-flori
gold pieces. °
Out of the kilogram of pure gold there an' manufactured 1,653.43 florins; out of the
kilogram of pure silver, 105.82 florins. The ducat is a trade coin. Ducats art' coined
lor India trading companies only.
The law of April 1 27 1884, empowered the Government to melt down into bars the
silver coins and sell the bars. The object of this law was to enable the Governin' nj
. maintain the relative value of the gold and silver coins. This law is now erobodi
m section 4 of the law of May 28, 1901
The monetary system of the Dutch colonies is the same as that of the mother countr> •
REPORT DIRECTOR OF MINT.
195
Netherlands’ Colony op Luxemburg.
Answers to interrogatories , 1909.
1. In order to simplify the replies to tho interrogatories, a few words on the monetary
system might be given:
The Grand Duchy has the power to coin money. This principle is set forth in our
constitution; but till now no use has been made of this power, except in the making
of various coins of 10, 5, and 2J centimes. These are current legal tender among
private persons up to 5 francs for every payment; State financial offices must accept
the same to larger quantity in the payment of taxes. In execution of the laws of
1852, 1854, 1850, 1864, 1869, and 1870, 600.000 francs’ worth of bronze money was
circulated throughout the Grand Duchy. A law of the 29th of December. 1900,
authorized the withdrawal of all bronze money, with exception, however, of the
2J centimes, and the substitution therefor of 500,000 francs’ wTorth of nickel pieces
of 10 and 5 centimes. By the law relating to the budget of 1908 the Government
authorized the coining of 75,000 francs’ worth of 5 and 10 centime nickel pieces and
10,000 francs’ worth of 2i-centime bronze pieces.
The Grand Duchy having no money, the issues of 1870 and of 1900 were provided
by the Bank of Brussels, the other ismes were furnished by the Bank of Paris. In
order to obviate the absence of gold and silver money, coins of the Latin Union have
become current to their nominal value. German pieces which have been introduced
in commercial and financial transactions are current at the rate of 1.25 francs per
mark. United States gold and silver pieces are very rarely met with and only in
isolated cases in our public treasuries.
To complete this statement respecting legal money, it should be added that in
1839 the values enumerated were expressed in Netherlands’ florins in all public and
administrative documents. By the law of December 20, 1848, the franc was adopted
as the unit, in the carrying out of obligations prior to January, 1849, stipulated in
florins, the value of the franc was fixed at 47 ^ per florin. The Luxemburg franc does
not exist; it is only represented in metallic circulation. It is a term in accounts, a
unit adopted in commerce and public administration in the management of their
accounts. The value of the grand ducal franc, which custom has retained, is eight-
tenths of the German mark, or 80 pfennigs. Moreover, at least in case of agreement
expresslv stipulating that the payment be made in effective francs, the rule at the
State treasury is that they are made in German irilver. At any rate the liberality
granted all moneys admitted in our country is the same as in the country of origin.
2. According to information furnished me in regard to the consumption of gold
and silver in industrial arts, it should be added that for the last 10 years no rings,
bracelets, and chains have been made in the country ; the importation of these metals
is almost unknown. Fine jewelry is imported from France, tho ordinary jewelry
from Germany.
3. The importation and exportation of gold and silver coin of the Grand Duchy
(the importation and exportation of gold and silver ingots are insignificant), speaking
generally for the public treasuries, remains apparently tho same and may be approxi¬
mately fixed as follows:
Francs.
Gold from tho Latin Union .
Silver from tho Latin Union .
Gorman gold .
German sliver .
SO. 000
60,000
Marks.
2.000,000
700,000
As I have already had the honor to state, tho importation of gold and silver from
the United States is hardly anything. There are no gold or silver mines in the Grand
Duchy and consequently no refineries of these precious metals. The amount of gold
and silver in store in the State treasury, the banks, and in circulation may be approxi¬
mately stated at 10,000,000 marks.
4 The Grand Duchy does not issue bank notes. Nevertheless, bank notes of the
Bank of France, tho National Bank of Belgium, the Reichsbank of Berlin, and of the
International Bank of Luxemburg are accepted and given in our public treasuries at
their equal value in gold. The treasury is authorized to accept and to give bank
notes in payment; private persons are not obliged to accept them from the public
treasuries.
The financial establishment founded at Luxemburg under the company name of
the Banque Internationale is only authorized to issue bank notes payable to bearer
the refunding of which is guaranteed by a security.
196
REPORT DIRECTOR OF MINT.
At the office of the company the hank notes must be changed at their face value
To insure the exchange of these notes, the hank is under the obligation to Main at
all times in its treasury in current silver, or in gold and silver ingots, destined exclu¬
sively for this purpose, a sum equal to one-third, at least, of the sura of the notes in
circulation.
The sum total of the bank notes in circulation in the Grand Duchy (this of course
according to the report of the circulation in the State treasury ) may be stated approxi¬
mately as follows:
Bank of Franco -
National Bank . . . . .
Reich* hank .
International Bank
Frants.
350,080
2fw, on)
30.000,00)
5,000, ODD
In conclusion, I would add that with regard to the advance of gold compand with
the actual course of exchange of the country, there has been no fluctuation for several
years.
(Signed) Francois.
The Collector General.
Dutch Government Assays.
FIXED STANDARDS OF GOLD AND SILVER WARE FOR HOME TRADE.
(From Monthly Consular and Trade Reports, June, 1010.)
Writing from Rotterdam, Consul General S. Lit too says that all Dutch manufac¬
tures of gold and silver bear the stamp of a Government official to the effect that the
contents nave been unsaved and found of the purity required by the law of 1S52 and its
subsequent additions and amendments.
This Government supervision safeguards all purchasers of jewelry, silverware, and
similar articles. Dealers detected in an endeavor to evade the provisions of this law
are punished by forfeiture of their wares and a monetary tine, which increases with each
offense.
The special tax on manufactures of gold and silver is, respectively, 15 florins ($6.QS>
and 0.75 florin ($0.30) per hectogram (2 ounces, 15 pennyweight, 10 grain*, troy
weight) fine. There are four standards for gold, via. 916, 833, 750, ana 583 thousandths
(22, 20, 18, and 14 carats), and two silver standards, 934 and 833 thousandths. A qu*l-
ity variation of 0.003 in gold and O.OOo in silver is allowed . Manufacture* of gold under
a purity of 0.583 are not guaranteed, but simpl v stamped to prove that the tax has been
paid. Objects containing lees than 25 per cent of either gold and silver are not ccnsm-
ered as gold or silver ware. Assay offices art* maintained at The Hague, Amsterdam.
Rotterdam, Schoonhoven, Leenwarden, Utrecht, Amheim, Boia lo Due, Groningen,
Alkmaar, and Dordrecht.
All articles coming under this classification must, on being imported into the Neth¬
erlands, be assayed and pay the legal tax. Goods manufactured for export are not
obliged to conform to these regulations. There were exported from the Rotterdam
consular district to the United States manufacture* of silver valued at $71,559 during
NORWAY
Ansurrt to iHtfrrogatorie*, 1909
1. In the year 1909 no gold was coined. Of silver there were coined :
FW»
1 crown . . . . 170,<*£
50 ora . . . 100, O*
Wore . 4*e.OOP
io ore . rtnunmmm* . ****;;;;
Total . . $ro.iM)
Total value, 520,000 crowns
1‘uSS1 VahK> #b0Ut M>S0° m,WnS ™
™ “ld° ,OT '°rui|'’n Munui«. »“<* « P"‘ o' ,h' *bovc coiM|!0
Uo3n ^n^l^nlho wci«ht an,i of gold and stiver used in industry no informs-
197
BEPOBT MBECTOB OF MINT.
4. No coined gold w« imported from the United State of Ameme. during the vear„
t Ontnatol mid mndalvCT from mine* ol the country during
in the country in 1909 was presumably inconsiderable. Accurate intormauon
TSXtT^uSiaon from die minirtry of
1909aproduction of raw gold (or fluvial) of 1,815.513 grams, which amounts to (at 2.48
kroner the gram) a total value of 4,502.47 kroner. _ , A -i 19ng aiKj Jane
At the Konigsberg silver mines there waaproduced ^tw^'“>AP.hi’h brought upon
30, 1909, from pure silver ore, about 8,287 kilograms of fine silver, which brougnt po
Odmr mines been (»o fir a, is known) regulwly £&£££% on Derem-
6. Approximate .lock of gold and mlver coin and bnU.onmthc
ber 31, 1909: Here the only information tiiat can be »ven isth * 'jnaddi-
surplus stock of gold at the end of 1909 amounted to about 3O,293^30erov^ ^
tioi to this the bank had in its favor in Nfidonalbanke^ Corner^
Riksbank a balance of about 3,153,300 crowns and dern^ ted wjtb foreig
agenta about 16,859,400 crown,. At thi» d»te (lle^W 3M^*em w« »
17,117,120 crowns in gold coin, of which there had beenretuedw ™ f which
crowns. Of silver small coin there was in circuladon ctowds,
on December 31, 1909, 1,479,530 crowns were »n theGoverament |^[Jere wen? on
7. No bank notes are issued by the State. Of ^ '***£. . qqq were not cov-
ecember 31, 1909, 77,494,500 crowns in circulation, of which 27,lbS.uuu we
December 31.
9 In 1909 no regulation, wer^SP^. f, arepOTt"”*”'*™ >pera-
don,of ^PCl"n”lTni^^ d^Ure period from April ., 1908, to June 30,
Tl («) According to the .tatfrtic,, the importation and exportation of gold
was as follows:
in 1909
Classification and country.
Imports.
Exports.
Cota and medals: . . . . .
Denmark . * . . .
Sweden .
Germany . .
Austria . .
Crwrns.
1,000,220
575
2,000
100
Crx»rn*.
"131,992
" * 2,142
Other countries .
Un worked fold, German)
1,002,896
2,164
34,134
» Coins.
11. (6) Importation and exportation of «lvcr during 1909 .
russification and country.
Imports.
Exports.
Coin and medals: .
Denmark . .
Croun*.
153,0*8
4,980
175,310
Crovnt.
> 148,000
"•287,000
Sweden . .
Germany . . . .
926
Other countries -
352,384
435,000
Total . * .
Unworked silver . . . •
Denmark . . .
480
638,040
Germany .
638.520
BilvM-Twrtio <l«nW .
« Coins.
10 There is inclosed a copy of Storthing’s proposition No. 1 lor 1908 in which is
• \2 iTIl IT a supplement the treasury department’s report concerning the e«tabbah-
men'tliU Change the stamp for the Kingdom’s gold, silver, and bronze coins, which
“m the basis of the royal decree of November 19, 1907.
198
REPORT DIRECTOR OF MINT.
PORTUGAL.
Answers to interrogatories, 1909.
1. Amount of silver coined during the calendar year 1909:
Denomination.
Number of
pieces.
Value.
New coinage:
500-reis pieces .
1,513,166
7,650,000
Rcii.
200-rels pieces . .
Total . .
9,163,166
2,286,583,500
During 1909 the following were retired from circulation:
Reis.
1,000- re Is pieces to the value of . 476, 000
600-re Is pieces to the value of . 51,717,000
200-rels pieces to the value of . 2,530,706,600
100-re is pieces to the value of . 835,902,400
50- re is piooes to the value of . 75, 837, 960
Total . 3,494,828.850
2. Coinage executed for other governments, or coinage executed at foreign mints
for Portugal during 1909: None.
3. Estimated weight of fine gold and silver used in the industrial arts during the
calendar year 1909: Not known.
4. Total import of United States gold coin and amount of same deposited at mint
and melted during 1909: None.
5. Amount of gold and silver produced from mines of the country during 1909: This
information in regard to 1909 is not yet known.
6. Approximate stock of gold and silver in the country on December 31, 1909:
Reis.
Gold coin (In circulation) . 7. 967, 002. 000
Silver coin (In circulation) . 36.707.019.900
Stock in public treasury and in banks is not known.
7. Amount of Government notes outstanding at the end of the year 1909: Not yet
known.
8. Premium on gold during 1909:
Per cent.
Highest premium . . 23. 85
Lowest premium . " ' . 10. 10
Average premium . . . . 16.97
Actual currency of the country is silver and bank notes.
9. Laws passed during 1909 affecting the coinage, currency, or banking: Nu laws
were passed. Copy of a decree herewith.
10. There are no reports published on operations of the mint or by a department of
mines.
11. Imports and exports of gold and silver during 1909:
Country or origin and destination.
Bars.
Coin.
Bars.
Coin.
Oermany .
MUrtit.
Milreit.
Milrcit.
J nirrU.
2,538
700
United States of America .
United States of Brazil.. .
255
841,020
Spain .
Great Britain .
303,500
215
30,197
• 167
3,112
1,870
125
1,482
060.061
1,137
4.603
474
5
435
39
25,012
Portuguese possessions:
Angola . .
Capo Verde . .
St. Thomas and Princlpo Imperial
Mozambique .
Macau .
50
Timor .
India .
Total .
354
93
553
303,550
36,388
1,510,063
35,496
REPORT DIRECTOR OF MINT.
199
Decree.
Ministry of finances and general directory of the treasury, office of the mint and
stamped notes, first division.
Having soon to commence to distribute to the cash offices of the country tho new
200-reis coins, whose issue was authorized by a decree of law September 9,
by which it was decided to retire to the mint the remainedr of coins of the same v
of coinage prior to the present reign, which are to be retired from circulation by .
of the requirements of the above-cited law by June 30, they will have to fax th
(luring which these coins will have to be exchanged for an :
current coins or are to be received in payments to the State as well as at loca £
of the Bank of Portugal and in the municipalities of the continent and the
The minister secretary of state and financial affairs is charged with t
of this decree.
Made at the palace June 2, 1909. » ,,ro„nn t^nn
* Francisco de Paula de Azeredo, Aing.
RUSSIA.
Answers to interrogatories , 1909.
Denomination.
Number of
pieces.
Value.
Rublet.
1,842.00
BUver:
1-ruble pieces . . .
50-kopeck pieces .
50,011
50.011
18,875.011
21.666,677
50,011.00
25,005.50
3,775.002.20
3,250.001.55
15-kopeck pieces . . .
10-kopeck pieces . .
25.290.011
3.100,010
2,529.001. 10
155,000.50
5-kopeck pieces .
69,031,731
9,784,021.85
i 3.948,360.00
. .
New coinage . .
5,835,661.85
2. Coinage executed for other government,, or by other mint, for Russia, during
TatoffiSSS* of fine gold and fine silver used in the industnal arts dunng
the year 1909 : - - - - - —
Material used.
Gold.
SUver.
Kilogram*.
4,101.80
Kilogram a.
132,056.50
New bullion, old plate, jewelry, etc.-- _ _ _
(FurthcTThcrtvwcre^pmduced- for testing and slamp.ng 56,8
silver watchcw.) . imported during 1909 : 26,998.80 ru
J Wefiroduced from mines of the country dunng
149 gold au
bles.
1909:
id 139,525
Description.
Kilograms
(fine).
Value.
48,720. 7S96
(»)
RubUa .
62,927.701
0)
DOIoSd From tloep mines and placer mining .
Silver.
- - i Tho figures for 1900 are not yet known.
There is no colonial production.
200
REPORT DIRECTOR OF MINT,
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909:
Character of stock.
In public
treasury and
Imperial Bank
of Russia.
In circulation.
Gold coin and bullion. . .
RubUs.
1,173.968,731
40,207,696
RubUs.
577,200,000
112,000,000
Sliver coin » .
Silver bullion .
Total . * . - . | 1,214,266,427
689.200.000
1 The figures relate to the coin of the fineness of 0.900 only.
7. Government and bank notes outstanding at the end of the year 1909.
Issued by—
Notes out¬
standing.
Gold
holdings.
Legal-tender silver holdings.
Bonks of issue .
RubUs.
1 1,300,000,000
(The silver does not serve as a covering
tor the notes).
(*)
of^io^x,1:173-8” rabiM 10 <*"’ md
201 1W7<J ““J asu* of tot 000.000,000 of paper money Is to be
g° d rUb‘“: 0Ver “d above e00’000-000- ruble1 mim be guaranteed
aJo ^}di CirCUlAio?? of. P°1(i throughout the country is not exposed to
guaranteed nihS ’ i?*®* paper money in circulation was fully
c^uld b^&u^d 1 ^ ble’ ^ d’ End therefore l^e ful1 amount of 300,000,000 rubl<*
lO.^ThTmiarpublis^M^ reports ^ th® coina«e- circulation- currency, or banking,
calendar $23** °Ip0rt °f g°W' <6> «“P<* export ol ailver during the
Classification and country.
Gold coin:
Austria-Hungary _
Argentina .
Belgium .
Bulgaria . .
China .
Denmark. .
Egypt .
France .
Germany .
Great Britain..
Greece .
Holland .
Italy . "
Japan . ’**'*’“
Roumanla
Servta . * .
Spain .
Switzerland..
Turkey . . .
United
States of America
Total, j .
Gold bullion:
Afghanistan .
France."!.'
Germany _
Great Britain .
Persia .
Turkey .
Total .
Imports. Exports.
RubUs
13,005
19
164
37
59,724
5
. 15,435
8,401,165
1,172,157
7
79
186 .
205 .
30
18
3,003
30
576,385
52,3*0
RubUs
8.532
139.356
1,806
52,130
26,850
24,820,441
. il,586
1 Over andTbo . . > 24,920.025 20,
to U» B»k * SUK repr^onnrh..
puraU3 sum into the constituent parts.
150.732
526,650
ii'Sfrjg
6,677,395
35
6,320
30,455.773
not possible toseparate5 thtssum1?^ *?• B“k State re
paraw “ns sum Into the constituent parts.
REPORT DIRECTOR OF MINT.
201
SILVER.
Classification and country.
Imports.
Exports.
Silver coin:
Rubles.
17.581
Rubles.
11,002
37
28,030
13,638
351,046
3.175,221
2,378
11,297
123
666,450
3,628.807
091.287
Silver bullion:
733.072
274,019
Franco .
Germany .
Amq f Dritoln ...
6.638.527
8.908.533
467.814
1G’200
151
4.434,136
16,428
Persia .
Turkey .
16,121.658
5,505,078
Russian Coinage Law.
(June 7 (19), 1899.)
Silver is coined into pieces of 1 ruble, A-J ► » . » l half a copeck, and a
Copper money “ c2**Sj ® g^go^ti^f ernntom a £Ul of copper.
" °f t in accounU- doed"' “d
all transactions in general are, °n^ pl Vl_l a Dayment of any amount.
Gold coin of full weight is legal tender f I - c for circulation and payments.
Silver and copper coins serve as I 0ff ruble 50 copecks, and 25 copecks
. A tender of payment of ^^KexSdii 25 rubles, and
is legal tender among private pe»M °n . ^ to the amoUnt of 3 rubles Govern-
in other silver coins, as well ** mentioned coins to anv amount, in all payments,
ment treasuries receive the »J>®ve-m . jn which case the amount of silver and
with the exception of CUfl1tom?®lJ?ct n(ior is fixed by the customhouse regulations
copper coin to be received as lega Millie currency in Russia on the basis of the
In 1896 a plan for the E^pSs. As a result of the deUbera-
gold standard was 8ub.ml“e^.^derrce of August, 1896. was Issued fixing until January,
im. &T3^«»W* SSto and of .ho half unpenat a, 7.5 paper
rubles. . council of the Empire in 1896 by the minister of finance
The plans submitted to the coun ^ ooi of neW 10-ruble pieces corresponding
contempUted the authon n ^ bilb of credit or paper rubles. The objec t of the
exactly with the actual . d monometallism for the paper money based on
projected reform was wjumu ^ho reform in no way impairs, contracts, or modifies
silver (the sil^ver or paper ru^t> inA Rufltfia itaelf or between Russians and foreigners,
accounts either betwee I . bv the reform was to fix and make permanent the
All that was sought to be existed.
gold parity of credit ruble aaw 189£ waa confirmed by the ukase of January 3 (15),
The imperial d& < ret owi ^ ^ foUowa;
1897. The full ond to the inconveniences which circumstances and the force
“In order to P» about -n the m0netary circulation of the country we have
of things nave u » ^ ^ deposited with the council of the Empire a plan elaborated
directed than i(tee having for its object the placing of our monetary system on a
by a®Pe.r1^ harmony vidth the existing situation, and also the regulation of the issues
new Duct
°* “Thhfau«rtl°n on a<,,'onnt of its importance and complexity, may still require long
deliberation and discussion.
202
REPORT DIRECTOR OF MINT.
“ To-dav,on account of the urgent necessity of resuming the stamping of gold coins,
and in order to stop the uncertainty arising among the people from the discrepancy
between the nominal value of gold coins and the price at which they are exchanged
for bills of credit or paper rubles, we have thought it well while awaiting our final
decision after examination of the council of the Empire to cause to be stamped gold
coin bearing the indication of the price fixed in our imperial decree of August 8, 1896.
44 Therefore, in accordance with the plan which you have submitted," and which
has been examined bv a special committee, we direct you —
“(I) Without modifying in any way either the quantity of fine gold, or the fineness,
or the weight, or the dimensions of gold coins as fixed by law (Monetary Iaiw, articles
8, 9, 12, 17, 19, and 21), to cause to be stamped imperials and half imperials bearing
as an indication of their price, the former 15 rubles and the latter 7 rubles 50 copecks,
in conformity with the description approved by us at the same time as these presents.
“(2) After the manufacture of the gold coins on the bases indicated in article 1 of
the present ukase, to put the coin aforesaid in circulation.”
DESCRIPTION OF THE NEW GOLD COINS.
The obverse represents the portraits in profile of the left side of Ilis Majesty the
Emperor, with the circular inscription: 4 ‘Nicolas II, by the Grace of God Emperor
and Autocrat of all the Russias.”
The reverse of the coin represents the imperial arms, with the following inscription
below: On the piece of 1 imperial, 15 rubles and the year of coinage; on the piece of
one-half imperial, 7 rubles 50 copecks and the year of coinage; on the edge a depressed
inscription indicating the quantity of fine metal contained in the piece; “Order of
His Majesty the Emperor.”
(Communicated by the minister of finances to the directing Senate, that the same
maybe promulgated.)
ilia Majestv the Emperor, on the report of the minister of finances, has deigned to
promulgate the following, January 3, 1897:
“With respect to engagements concluded in gold rubles and to payments to the
treasury of customs duties and other taxes payable in gold coin, the imperials and
half imperials mentioned in our ukase of January 3, 1S97, shall bo received— the
former at the rate of 10 rubles and the latter, of 5 rubles in gold.”
In accordance with the ukase of January 3, 1897, there was coined a piece of the
value of 15 rubles (for the amount of 178,500,000 rubles), and another piece of the
value of 7 rubles 50 copecks (for the amount of 126,200,000 rubles). In the course of
time, however, such coinsj in view of their comparatively high cost of value and non-
conformancy of their nominal value with the decimal system, were gradually exempt
from circulation and melted; according to the minister’s order such pieces are not
coined from 1897. By the ukase of November 14, 1897, there was inaugurated a new
coin of 5 rubles’ value, corresponding bv its ingrediency of pure gold to one-third of
an imperial, and by the ukase of December 11, 1898, a coin of 10 rubles’ value, which
both coins are now in circulation.
In addition to the ukase of January 3, 1897, the following laws are necessary for the
full comprehension of the existing monetary system. (It mav be useful to
that whereas the imperials issued before Jan. 3, 1897, were at the nominal price of 1U
rubles each, 1 ruble containing 26.134 doli fine gold; the new imperials were ismed
at the nominal price of 15 rubles each, 1 ruble containing 17.424 doli line gold.)
THE UKASE OF AUGUST 29, 1897.
,°ul;.u„kfse °.f •ranuafy 3' MW, wo caused gold coin to bo stamped and issued
?ollo"'*ng prices: Fifteen rubles on the imperial?, and •
SM 'a® half “T™18- ™s measure brought the nominal price o
flVn ta coirespondeuee with the price fixed for the redemption of Government
and^ju^their cironl^r00 Umo,lt confirmed the valuation of Government bank notes,
and put their circulation on the same basis as that of gold coin
bank notca^ue,S>’Je Lf0rmT 'laW8 c0VccruinK *0 covering in gold of Government
Therefore and Ri I101 ln accordance with our above-mentioned ukase.
nnteat we order'tlie'followirig;09111^19^ * f,rm basis for lhc is8U0 ot Government bank
bcLg08tricUy“Tmitedabv twlT '8SUcd h?.1?10 Bank ot Stote- the amount of i»™j
arc covered m ^old tJL real necessity arising from tho circulation of money.
of the total amount. cover tho notes must not bo less than hj»
rubl«. XnTn0tos in c^.ri?dl ‘f tbis la?‘ amount d<** “«‘ exceed 600.000.000
covered i * UU- 8 ln ClrcUlatlon over nr»/l enn nru\ niv\ must
issued in
REPORT DIRECTOR OF MINT.
203
THE UKASE OF NOVEMBER 14, 1897.
Having fixed by our ukase of January 3, 1897, the price of the imperial at 15 rubles
and that of the half imperial at 7 rubles 50 copecks, we thereby put the circulation of
Government bank notes and of gold coin on an identical basis, and established the
f)rice of a ruble as equal to one-fifteenth partof the4imperial, such price being equiva-
ent to the ratio of 17,424 doli fine gold in 1 ruble. After that, namely, in our ukase
of the 29th of August of the same year, the foundation was laid of the issue of Govern¬
ment bank notes covered in gold, and the ratio of this gold covering was fixed at 15
rubles to 1 imperial.
At present, having found it useful to cause the inscription on the Government bank
notes to agree with the rules of the above-mentioned ukases, and in accordance with
your report, which has been looked into by a special committee, we direct you to have
the following changed inscriptions put on tne bank notes which will be prepared
henceforth.
In lieu and place of the existing inscriptions, the value of the bank note is to be
depicted and the following inscription put: The Bank of State redeems the bank notes
in gold coin without any limitation of the amount (1 ruble equals one-fifteenth of an
imperial and contains 17.424 doli fine gold). The heading and the second and third
clauses of the extract from the manifesto are to be replaced by the following inscrip¬
tions: (1) The redemption of Government bank notes in gold coin is guaranteed by all
the country’s possessions; (2) The Government bank notes circulate all over the Em¬
pire on the same basis as gold coin . The third clause is to remain as it was.
THE UKASE OF NOVEMBER 14, 1897.
To our Minister of Finance:
In order to facilitate the settling of accpunts in gold coin, we have deemed it good
to approve your report, which was looked into by a special committee on the stamping
and the issue, in addition to the imperials and the half imperials, of a 5-ruble gold coin,
possessing the value of one-third of an imperial, in conformity with the description
approved by us at the same time as these presents. ,
The weight of fine gold in the 5-ruble gold coin is fixed at 87.12 doli. This com
contains 900 parts of fine gold and 100 parts of copper. A standard pound of this
fineness must contain 95 gold coins by 5 rubles plus 1 ruble and 3i'\t copecks. The
diameter of the 5-ruble coin is 72 points (1 point = 0.01 of a Russian inch = 0.254
millimeter). The weight of this coin is 1 zolotnik and 0.8 of a doli; in the fabn-
cation of this coin the following deviations are permitted: (1) In the .fineness 0.001
part higher or lower than the above-mentioned fineness; and (2) in the weight 0.3 of a
doli, lower or higher than the above-mentioned weight The limit of weight for the
acceptance of the 5-ruble gold coin at its nominal value by the Crown is not less than
1 zolotnik- a 5-ruble coin weighing less than the above-mentioned limit is accepted
only on the difference in price fixed by the law being paid.
Description of the outward appearance of the 5-ruble gold coin equal to one-third
^Th^nEvoree represents the portrait in profile of the left side of Dis Majesty the
EmperorwUh the ^cular inscription: “Nicolas II, by the Grace of God Emperor
aDTheUr^CT8e of^ th^c^irTrepresents the imperial arms, with the circular inscription,
5 rubles, and the year of the coinage. The coin has a patterned edge.
THE UKA8E OF DECEMBER 11, 1898.
In order to facilitate the settling of accounts in gold coin we have deemed it useful
to cause cold coin having the price of 10 rubles to be stamped and issued in addition
to the imperials, half imperials, and the 5 rubles’ coin.
Therefore and in accordance with the report of the minister of finance, which has
been looked’ into by the council of the Empire, we ordain:
I That the striking of gold coin of the value of 10 rubles be made on the following
basis- The weight of fine gold in the 10-ruble coin is fixed at 1 zolotnik 78.24 doli.
This coin contains 900 parts of fine gold and 100 parts of copper. A standard pound of
this fineness must contain 47 coins oy 10 rubles plus 6 rubles and 3jYt copecks. The
diameter of the 10-ruble coin is 89 points. The w;eight of this coin is 2 zolotniks plus
1 0 doli. In the fabrication of this coin the following deviations are permitted: (1) In
the fineness, 0.001 part higher or lower than the above-mentioned fineness, and (2) in
the weight. 0.4 of a doli lower or higher than the above-mentioned w eight. The limit
of weight for the acceptance of the 10-ruble gold coin at its nominal value by the
202
REPORT DIRECTOR OF MTNT.
“ To-day, on account of the urgent necessity of resuming the stamping of gold roin»
and in order to stop the uncertainty arising among the people from the dkcrepancv
between the nominal value of gold coins and the price at which they are exchaneJl
for bills of credit or paper rubles, we have thought it well while awaiting our final
decision after examination of the council of the Empire to cause to be stamoed enld
COi? indication of the price fixed in our imperial decree of August 8 1896
Therefore, in accordance with the plan which you have submitted, and which
has been examined by a special committee, we direct you —
“(1) Without modifying in any way either the quantity of fine gold, or the fineness
or Jhe weight or the dimensions of gold coins as fixed by law (Monetary Law, articles
8, J, 12 17 19, and 21), to cause to be stamped imperials and half imperials bearine
as an indication of their pnce, the former 15 rubles and the latter 7 rubles 50 copecks
*?lty ?lth the description approved by us at the same time as these presents!
(-) After the manufacture of the gold coins on the bases indicated in article 1 of
tno present ukase, to put the coin aforesaid in circulation.”
DESCRIPTION OF THE NEW GOLD COINS.
The obverse represents the portraits in profile of the left side of His Majesty the
Emperor, with the circular inscription: “Nicolas II, by the Grace of God Emperor
and Autocrat of all the Russias.”
The reverse of the coin represents the imperial arms, with the following inscription
below . On the piece of 1 imperial, 15 rubles and the year of coinage; on the piece of
one-half imperial, 7 rubles 50 copecks and the year of coinage; on the edge a depressed
inscnDtion indicating the quantity of fine metal contained in the piece; “Order of
His Majesty the Emperor.” r
(Communicated by the minister of finances to the directing Senate, that the same
may be promulgated.)
His Majesty the Emperor, on the report of the minister of finances, has deigned to
prouuileate the following, January 3, 1897:
W ith respect to engagements concluded in gold rubles and to payments to the
treasury of customs duties and other taxes payable in gold coin, the imperials and
half imperials mentioned m our ukase of January 3, 1897, shall be received-the
former at the rate of 10 rubles and the latter, of 5 rubles in gold.”
In accordance with the ukase of January 3, 1897, there was coined a piece of the
value of 15 rubles (for the amount of 178,500,000 rubles), and another piece of the
value of 7 rubles 50 copecks (for the amount of 126,200,000 rubles). In the course of
time, however, such coms? in view of their comparatively high cost of value and non-
conformancy of their nominal value with the decimal system, were gradually exempt
from circulation ^ and melted; according to the minister’s order such pieces are not
coined from 1897. By the ukase of November 14, 1897, there was inaugurated a new
com of 5 rubles value, corresponding by its ingrediency of pure gold to one-third of
an imperial, and by the ukase of December 11, 1898, a coin of 10 rubles’ value, which
both coins are now in circulation.
r for the
uiul wnereas me imperials issued before Jan. 3, 1897, w6re at the nominal price 'of 10
rubles each, 1 ruble confining 26.134 doli fine gold; the new imperials were issued
at the nominal pnce of 15 rubles each, 1 ruble containing 17.424 doli fine gold.)
THE UKASE OF AUGUST 29, 1897.
In our ukase of January 3, 1897, we caused gold coin t
.follow.in& Prices: Fifteen rubles on the imperials, anc
bios oO copecks on the half imperials. This measure brought the nominal price
gold coin m correspondence with the nrire f„r _ t
^ un ine nan imperials. This measure brought the nominal price of
,CfO7hO81“nd0?Ce wi,h lh,? Plic,° lwJ for ‘he redemption of Government
h“}k °“h»'.at .‘ho name time it confirmed the valuation of Government bank notes,
and put them circulation on the same basis as that of cold coin,
han't- 7!t!!7UeD(T’ ^ former laws concerning the covering in gold of Government
^hore o8 ,nH ,arL‘ 7" ?ot m “?°r(hince with our above-mentioned ukase.
noT^ we order ^folfowi^:^ ' a firm tor ,he »f Government bank
“BU^d by.1!10 Bank of State, the amount of issue
are covered m eohl H?6 rea* necessity arising from the circulation of money, and
of the total anfnunt nf am?unt of to cover the notes must not be less than half
rubles not™ in *** T^d’ lf lhla laat amount does not exceed 600,000.000
covered in eold l circulation oyer and beyond 600.000,000 rubles must be
issued ^ to ^ banknotlS^hmi w 10 °£ ru,ble for rubIe* in 8Uch a "ay that every 15 rubles
issued in bank notes should be covered m gold at least to the amount of 1 imperial.
report director of mint.
203
THE UKASE OK NOVEMBER 14, 1897.
Havine fixed by our ukase of January 3, 1897, the price of die imperial at 15 rubles
JEW the half imperial at 7 rubles 50 copecks we thereby put die circulaUon of
Government bank notes and of cold coin on an identical basis and established the
trice of a ruble as equal to one-fifteenth partof the. imperial , such price being cquiva-
Cuo theratio of 17 424 doli fine gold in 1 ruble. After that, namely, in our ukase
of the 29th of August of the same year, the foundation was laid of the issue ^ Govern¬
ment bank notes covered in gold, and the ratio of this gold covering was fixed at 15
™ t torese n t avfng found it useful to cause the inscription on the Government bank
note't^ee wkh the rtlee of the above-mentioned ukases, and m accordance with
vour* teport^which has been looked into by a special comnttW, tjedirect preM^ed
the following changed inscriptions put on die bank notes which will be prepared
hTn He^and place of the existing inscriptions, the vidue of to be
depicted and the following inscription put: The Bank 0 *v i one-fifteenth of an
in gold coin without any limitation of the amount (1 r,. , the second and third
imperial and contains 17.424 doli fine gold). The hetdmg and f^lo^inscrip-
clauses of the extract from the manifesto are to berepa^ y guaranteed by all
tions: (1) The redemption of Government bank notes
the country’s possessions; (2) The Government bank mtoBUKnm iau overi.
pire on the same basis as gold coin. The third clause is
THE UKASE OK NOVEMBER 14, 1897.
possessing the value of one-third of an imperial, in conformity wiui ui
approved by us at the same time as these Pre®®n“-.
<fi _ • V. in i he 5-ruble gold com
_ _ _ _ _ _ _ _ s vy u ^ _
diameter o! the 5-ruble coin is 72 points o!g*of a doli; in the fabri-
millimeter). The weight of this com is nermitted: (1) In the fineness 0.001
cation of this coin the following .q , fiJeneeB; and (2) in the weight 0.3 of a
part higher or lower than the ^ove-m weight. The limit of weight for the
aoli, lower or higher than the abo\e- . . y^e by the Crown is not less than
acceptance of the 5-mble PyJ? * le^ "han the above-mentioned limit is accepted
1 zolotnik; a 5-ruble coin , tbp iaw being paid. . . ,
^I^^cripdon of^eoutw-wd^ippcumuce of th. 5-ruble gold coin equal to one-thud
of an imperial: in profile of the left side of His Majesty the
E^J/^Tb r&Mp^n: Nicola. II. by the Grace of God Emperor
and Autocrat of all the Russias. imperial arms, with the circular inscription,
'Thecoin'haa a patterned edge.
THE UKASE OF DECEMBER 11
1898.
., „ . ti jnfr of accounts in gold coin we have deemed it useful
In order to facilitate ^e Qff 10 rublea to bc stamped and issued in addition
to cause gold coin having f d tbe 5 rubles’ coin. . ,
to the imperials, half ’ with the report of the minister of finance, which has
Therefore, and in uncy cf the Empire, we ordain: .
been looked into by ^ (.oin Gf tbe value of 10 rubles be made on the following
I. That theBtnking ld in lbe 10-ruble coin is fixed at 1 zolotnik 78.24 doli
basis: The weight of hue g ^ and 1Q() te of c0?per A standard pound of
This coin conUins 900 parts? 10 nlbies plutJ 6 rubles and 3^ copecks. The
this finenoffl must contoi sg *inUj The weigbt of tbis coin ^ 2 zolotniks plus
diameter of brication of this coin the following deviations are permitted : (1) In
1.6 doli. I11 Jf® . . higher or lower than the above-mentioned fineness, and (2) in
the fineness. 0- lo°,or or higher than the above-mentioned weight. The limit
the weighty O. ^ acceptance of the 10-ruble gold coin at its nominal value by the
204
REPORT DIRECTOR OP MINT.
Crown is not less than 2 zolotniks and 0.6 of a doli; 10-ruble coin weighing Iom than the
above-mentioned limit is accepted only on the difference in price fixed bv the law
being paid. J
II. That after the 10-ruble coin has been manufactured in conformity with Schedule
I, it be put in circulation.
The directing senate has to give the orders for putting these presents into execution
Description of the outward appearance of the 10-ruble gold coin, approved bv His
Majesty the Emperor on December 18, 1898:
The obverse represents the portrait, in profile, of the left side of His Majesty the
Emperor, with the circular inscription : ‘ ‘ Nicolas 1 1 , by the Grace of God Emperor and
Autocrat of all the Russias.”
i^Thu,reverae of 1116 00111 represents the imperial arms, with the circular inscription
10 rubles, and the year of coinage.
. °,n the edge a depressed inscription indicating the quantity of fine metal contained
m the com.
SERVIA.
Answers to interrogatories, 1909.
1. Amount of gold and silver coined during the calendar vear 1909: None.
2. Coinage executed for other Governments, or by other mints for Servia during 1909:
T“er® “ .no mijlt m. Servia. No new coinage for Servia was made during 1909.
ioeo | tmiated weight of fine gold and fine silver used in the industrial arts during
I*”"- I^P^tole to obtain the required data, but the quantity is very insignificant.
4. United States gold coin imported or melted during 1909: None.
5. Gold and silver produced from mines of the country during 1909:
Description.
Kilograms
(fine).
Value.
Domestic production:
Gold from placer mining. . ..
1G0
197,127.00
53.218.96
900.00
4.937.83
Go!d contained in copper ore exported to United States
Oliver from lead ores .
Silver contained In copper ore exported to United 8tates
50
6. Approximate stock of gold and silver coin and bullion on December 31, 1909:
Character of stock.
In public
treasuries.
In banks.
Gold coin .
Silver coin . .
*566,916
1 *4.553,846
Total .
86,338
053,254
l 1,415.696
• 5,969.542
7. Amount of Government and bank notes outstanding at the
?ed in this c
led in a horn
: of gold an<
ger than the
end of th<
»untry. This
je. Therefore,
i silver In the
amount given
9 year 1909:
Issued by—
Notes
outstanding.
Gold
holdings.
ings.
Banks of issue.
/ • *602.8*3
l *9,270.720
} *4,529,809
*1,327,578
Total .
9.900.008
4,529.809
1,327.578
In gold.
* In silver.
REPORT DIRECTOR OF MINT.
205
8. Premium on gold during 1909:
Per cent.
Highest.
Lowest..
Average.
<4
Actual currency of the country: Silver bank notes.
9. Laws passed’during 1909 affecting the coinage, currency, or banking: (No reply.)
10. Report on operations of mint, or of the department of mines: There is no mmt
in Scrvia. The last report of the department of mines is for the year 1906; it is in the
Servian language; one copy has been sent to the Department of State.
11. (a) Import and export of gold, (6) import and export of silver during the calen¬
dar year 1909:
GOLD.
Classification and country.
Imports.
Exports.
Gold in copper ore:
<53,218.06
87,346.00
140,564.96
SILVER.
BUver In copper ore: *
14.937.83
3,673.00
8,610.83
SPAIN.
Answers to interrogatories, 1909.
1. Amount ot gold and silver coined or recoined during the calendar year 1909: No
“T Nbeomage^ execudetTfor other Governments, and no coinage executed at foreign
"^Ste^S? 5. of fine gold and silver used in the industrial ans during
1 Vunil^Statee gold coin imported, or deposited at mint and melted during 1909:
None. . , _ ... iho (vtnnfrv rtnrincf 1909:
CloaslflcaUon.
Kilograms
(fine).
Value.
Domestic production: .
Gold from deep mines. . . .
Silver from dry or siliceous ores . .
5,016
3,656
139,747
Peseta*.
15,018
344.856
12,499.120
Silver from lead ores .
0. Approximate etock of gold and silver com and bullion in the country
ber’31, 1909:
on Decern-
Character of stock.
In public
treasuries.
In banks.
In
circulation.
179^0431385.61
709,865, 438. 15
*45MsS!257.80
FfscUu.
‘ 13a 666,' 666
Sliver coin .
849,508.823.76
Total .
- , rrwu amount is deposited In the Hank of Spain to the credit of the public treasury.
1 2 n!..“ n„„ir nf Snain
_ , h n impossible to obtain statistics as to bullion, the Spanish statistics giving
only the total value in pesetas of the amounts of gold and silver.
206 REPORT DIRECTOR OF MINT.
7. Government and bank notes outstanding at the end of the year 1909:
Issued by—
Notes out¬
standing.
Gold holdings.
Legal-tender
silver holdings
Dank of Spain .
Peseta*.
1,670,998,175
Pesetas
402,926,036.49
Pesetas
769, 865,438. 15
8. Premium on gold during 1909:
6 Percent.
Highest . li.®
Lowest . u.®
Average . 10.004
Actual currency of the country, gold, at premium of 7 per cent.
9. Law's passed during 1909 affecting the coinage, currency, or banking: None.
10. Report published on operations of mint: No report was published in 1909.
11. (a) Import and export of gold, (6) import and export of silver during the cal¬
endar year 1909:
GOLD.
Classification and country.
Imports.
Exports.
Gold coin: •
Fernando Poo. . . . .
Pet etas.
Petetu.
220,480
Philippine Islands .
25,164
France . .
141,300
Mexico .
950
26,114
18 |
360
Total .
361,840
10ft
200
Gold bulUon, France .
Gold ore, France . .
SILVER.
811 ver coin:
Fernando Poo .
431.225
148,14ft
Mellila .
2,676,500
Plo de Oro .
*100,000
ArgelLa .
181,000
Argentina .
io boo
Brazil .
4,350
1,300
820
11
1,500
Cube .
560,300
Philippine Islands . .
France .
170,000
Morocco .
Mexico .
2,100
Portugal .
5,000
Total .
3,232,806
1,050.440
8Ilver bullion:
Canary Islands .
9
France . .
2,343
" ’ a.a»
Great Britain .
Portugal .
*■’3
Total .
2,352
— -
Silver ore:
Canary Islands
100
Oreat Britain . .
Portugal . .
900
651
560
Total .
—
1,000
REPORT DIRECTOR OF MINT.
207
SWEDEN.
Answers to interrogatories , 1909.
1. Amount of gold and silver coined during the calendar year 1909:
Denomination.
Number of
pieces.
Value.
Crown*.
4,240
Silver, new coinage:
483,850
1,010,460
2,094,316
402,974
85,848
2. Coinage executed for other governments, or coinage executed at foreign mints for
Sweden during 1909: None. . . , , .
3. Fine gold and fine silver used in industrial arts during 1909:
Fine ounces.
. 24,000
Stiver .
Kunttf coin imported, or deposited at mint and melted
oNf°goTd and silver from mines of the country during the calendar year
1909:
Classification.
Kilograms
(Qne\
Value.
15.265
913.612
Crown*.
37,608
55,087
811 vcr, from copper ores .
6. Approximate stock of gold and silver com
U, 1909:
and bullion in the country on December
dl, iW'J.
Character of stock.
In public
treasuries.
In banks.
In circula¬
tion.
Gold: .
Crowiu.
81,380
Crown*.
73,836.220
0,913,032
Crowns.
12,000,000
Bullion .
Silver:
239,400
458,047
4,485,000
27,500,000
Bullion -
Total .
778,833
85,234,318
39,500,00
7. Amount c
Notes outstanding. •
Gold holdings .
Crowns.
. 201,897,470
. 80,431,270
8. There is no prejnmm on^ldff^t.^ the coinage, currency, or banking: His
9. Laws proclamation, regarding the issue of new Riksbank notes, given at
Z&.SSS&Sk""-
208
REPORT DIRECTOR OF MINT.
10. Report of director of mint not printed. Report of board of trade on
yet published for 1909, but said report for 1908 is hereby transmitted.
11. (a) Import and export of gold during the calendar year 1909:
mines not
Imports:
Gold coins .
Gold bullion .
Exports, gold bullion.
..crowns.. 1,003,044
kilograms.. 333
. do.... 9
11. (6) Import and export of silver during the calendar year 1909:
Imports:
Silver co Ins .
Silver bullion .
Exports, silver bullion .
...crowns.. 571,353
kilograms.. 13,701
. do.... 437
SWITZERLAND.
[Translation]
Answers to interrogatories , 1909.
1. Amount of gold and silver coined during the calendar year 1909:
Denomination.
Number
of pieces.
Value.
Gold (now coinage):
20-franc pieces for account of tho Confederation
200.000
200,000
Franct.
4,000.000
4.000.000
20-franc pieces for account of the Swiss Notional Bank
Total .
400,000
8,000,000
Silver (new coinage):
2-franc pieces .
1-franc pieces . .
300,000
900,000
1,000,000
600,000
900.000
500.000
50-centime pieces .
Total . .
2,200.000
120,000
2.000.000
600.000
Slher (recoinage), from domestic coins 1
> Old 6cus of 5 francs with tho design of Helvetia sitting.
mcntCd^gl9o“UNodtiny0ther Govermnonta’ or hV °thCT ”“>1* for your Govern-
thecSjnd^J 1& °f 80,11 “nd fin° Bilvcr U8ed in the industrial arte during
Kilograms
(fine).
10,700
80.500
^ thf Prec.ious metals employed in tho industrial arts
7 oSISr riwSf" nxiaA^y ^imated at 37,&0;000 francs for gold and
1909 :^To\<.ur knowleSee and i1epo-sited at mint and melted dliring
land The fedenl ^tates 8°^d COIn has been sent direct to Switzer*
taSrto to nottoncSIifXr/ “tH fore,K" «*“• The American gold carried by
C"dTdiQafi0n ^ ™“Df Sfc they'^rT "0t 8U',jeCted W “y
land possesses ncdhcrrPdUnor eiivcr min^ th th° “U"try <f.urin« 1909: As Switzer-
ber 3 h\,9^)C:,mate Mloc^o^ R°*d ant^silver^in^^kuHioi^m^lie oountt^on^ecem-
Possible to specify, oven approximately, the amount referring to each article stamped.
REPORT DIRECTOR OF MINT.
209
Character of stock.
In public
treasuries.
In banks. >
In circula¬
tion.
Gold coin .
333
Francs.
114. 338. 802. OS
22,139,981.80
15,955.080.00
Francs.
» 180,000,000
Gold bullion .
Silver coin 4 .
• 70,000,000
Total .
152.433,863.88
250,000,000
■ Banks of Issue and Swiss National Bank.
1 The answers received fall to reply to this question.
• Estimate of a specialist given here with all reservations.
* Ecus of 5 francs.
7. Amount of Government and bank notes outstanding at the end of the year 1909:
Issued by—
Notea
outstanding.
Gold holdings.
Legal-tender
silver holdings.
Francs.
Francs.
Francs.
Banks of Issue . .
286,161,250
136,478,783.88
15.955,080.00
Total .
286,161,250
136,478,783.88
15,955,080.00
Percent.
. 100.25
i Ordinarily the Confederation does not Issue treasury bonds.
8. The premium on gold follows the rate of exchange on Paris.
Premium during 1809:
Highest . .
9. Laws passed during 1909 affecting the coinage, currency, or banking: Addi¬
tional convention to the International Monetary Convention of November 6, 1885,
eniOre^^t)rtfortheIfeyderal1^iit upon the service of 1909, contained in the general
re?Lt (a) ^mporTTnd1 export of gold , (6) import and export of silver, during the cal¬
endar year 1909 :
Classification and country.
Gold coin:
Germany .
Austria .
Fiance .
Italy .
Belgium .
Great Britain .
Denmark .
Bervta .
Bulgaria .
Roumanla .
fffi::::::::::::::::::::
Holland .
Sweden .
Greece .
Africa .
Turkey In Asia .
India . . —
United States of America. .
Total .
Bullion (unwrought gold): .
Germany . .
Austria . . .
France . .
Italy . " “ ' .
In Europe - .
South American countries .
wire, Md KOM-thraid ttosuc. and told town,
Imports.
Exports.
Francs.
Francs.
3,116,444
3,954.021
2,491,062
248,658
9,528,358
24,097.575
2,639,210
398,255
19,820
830
1,035
3,782.936
2,000
4,120
3,494
95,572
. 1,580
452,540
1.009,905
250
. 9,380
M0
10,000
3,795
2,000
720
1,829
18,353,905
33,522,244
9,218,050
3,526,664
1,500
' 23,784, ' 292‘
2,514.812
706,430
1,500
3,446
34,460
4,893,320
38,639,998
6,044.476
1,554,311
2,900,872
There were no import, or export, of oro.
72663°— U - 14
210
report director of mint.
SILVER.
Classification and country.
Imports.
Exports.
8ilvcr coin:
Frana
1,246,140
793, (X >3
2,831,065
16,736,510
5,100
1,800
Frana.
1,075,296
42,347
3,779,142
1,093,954
373,346
1,888
5,337
21,613,764
! 6,371,308
Silver bullion:
2,642,787
797,827
2,658.452
835,794
0,195
353,380
1,459,508
474.656
224
Italy06
Groat Britain .
Total .
7,294.435
105,652
1,934,448
61,291
Rolled silver, silver beaten into fine leaves, and silver wires
[Translation]
Consumption op the Precious Metals in Switzerland during 1909.
(ferom L’£coDomiste European, Paris, Jan. 7, 1910.)
According to a communication from the Federal office for receiving gold and silver,
the Swiss stamping offices stamped 628,728 gold watch cases in 1909 against 565,679
in 1908; and 2,301,409 silver watch cases, against 2,123,875 in 1908.
There have also been stamped during the current year 122,062 articles of jewelry
and gold and silver ware against 88,470 in 1908. The number of gold and silver
bars assayed amounted to 19,134 against 16,511 in 1908.
More complete statistics have not been published up to the present. It may h®
of interest to recall that the weight of fine gold employed in Swiss industry in 1907
was estimated to have been about 11,000 kilograms. That valuation was made by
the Federal bureau of gold and silver matters from the articles stamped and registered
at the different bureaus of control and on the basis of observations made in the industry
and commerce of watchmakers and jewelers.
It is not possible to stato how much of that amount proceeded from the reinciting
of coins or other works, but it is probable that new gold coins are used in preference
for making gold articles, at least. From an estimate furnished to the Federal bureau,
the gold coins melted for industrial purposes amounted to about 5,000 kilograms.
The amount of silver employed in Swiss industry in 1907 was about 69,000 kilograms.
TURKEY.
[Translation.]
Turkey and the Latin Monetary Union.
[From L'ftoonomistu European, Paris, Oct. 22, 1909.]
Through recent news from Constantinople we learn that the committee appointed
to examine the question of the entry of Turkey into the Latin Monetary Union have
decided in the affirmative. In their decision the committee observed that by
entering the union Turkey would derive not only a moral but a material benefit,
which may bo valued at 30,000,000 or 40,000,000 francs a year.
The Government will shortly commence negotiations upon the subject with the
interested powers. The Turkish pound will liave the valuo of 20 franc's ; the medjidie
of 5 francs; the present quarter-modjidie will henceforth have the value of l franc,
and the piastre of 20 centimes.
It may be of interest to give some information regarding the present monetary
system of Turkey. The monetary unit is the Turkish piastre of 40 paras. The
REPORT DIRECTOR OF MINT.
211
piastre has the par value of 0.2278 francs in French money. The following table gives
a list of the legal coins of Turkey, with their diameters, weights, and finenesses:
Diameter of
Legal fine¬
Legal
the pieces.
ness.
weight.
Millimeters
ThoiuQJulthi .
Oram.
35.75
)
[ 36.082
27.5
18.041
22.5
} 910.66
{ 7. 216
18
3.008
14.75
J
l 1.804
37
24.055
27.25
12.027
24
830
6.013
18.75
2.405
15
1.202
13.75
1.601
18.75
15
| 100 •
f 2.0046
[ 1.0023
Denominations.
Gold:
500 piastres..
200 piastres.
100 piastres .
50 piastres . . .
25 piastres . .
Silver:
20 piastres..
10 piastres..
5 piastres
2 piastres.
1 piastre .
1 piastre .
10 paras. .
5 paras..
The devices on the gold coins are as follows: Upon one face is the “Imperial
Toughra” (“a Turkish standard composed of a short pike or staff, on the tip of which
a horse’s tail is fastened with a gold button”), surmounted by seven stars with two
branches of laurel around the lower part; at the right of the “Imperial Toughra” is
the inscription “El Ghazi” (“The victorious”), and between the “Toughra” and
laurel branches, the year of tnc reign. The 500 and 250 piastres bear, besides, the
indication of their value under the laurel wreath. On tne reverse is a wreath of
laurel surrounding the inscription: “Azze Nassrouhofl, zounbe fi Constantinie”
(“after the conquest of Constantinople”), with the date of the Arabian year under¬
neath. The edges of all these coins are grooved.
The 20-piastre silver piece bears on both faces a notched circle, 12 crescents and
stars with 12 engraved flowers. On the obverse is the “Imperial Toughra,” a branch
of rosebush with blossom, and the year of the reign. In the center of the reverse is
the inscription: “Azze NassrouhoA, zounbe fi Constantinie, and the date. __
The 10 and 5 piastre silver pieces have the same design as the 20 piastres, with the
only difference that in place of the rosebush branch the inscnption ‘ El Ghazi is
substituted. . , ,
The 12 crescents which characterize the preceding coins are not reproduced upon
The** half* in^tre^bears on its face the “Imperial Toughra ’’surrounded by a wreath
of laurel. At the side of the “ Toughra ” is the inscription El Ghazi, withtheyear
of the reign underneath. On the reverse in the inscnption: Azze Nassrouhofl,
zouribe fi Constantinie,” the Arabian year and the figures 20 (paras).
There are also in circulation other] pieces of money no ^juded in the reform of
same report the produclion of precious metals in Turkey, in 1904, 1905, and 1900,
was as follows:
1904..
1905. . ..
1900.. .
Gold.
Silver.
Weight.
Value.
Weight.
Value.
Kilogram.
64
53
50
Francs.
220,000
183.000
147,543
Kilograms.
23,406
16,607
17, 176
Francs.
2,225,000
19,990,000
1,900, 136
monotarv stock of the Ottoman Empire may be valued at 28,000,000 or 29,000,000
Turkish pounds for gold and 6,000,000 Turkish pounds for silver.
212
REPORT DIRECTOR OF MINT,
ASIA.
ARABIA.
Port of Aden.
Answers to interrogatories , 1909.
1 and 2. Amount of gold and silver coined during the calendar year 1909: Nil.
3. Estimated weight of fine gold and fine silver used in the industrial arts during
the year 1909: Nil.
4. * United States gold coin imported or melted during 1909: Nil.
5. Gold and silver produced from mines of the country during 1909: Nil.
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909:
Character of stock.
In Govern¬
ment
treasury.
In banks.
i In circula-
1 tion.
Gold coin 1 .
£6,000
22,000
£8,000
45,000
£11,000
40,000
Silver coin 1 .
Total .
28,000
53,000
51,000
> Figures roughly estimated; no statistics.
There is no gold bullion; silver bullion, if any, the amount unknown.
7. Amount of Government and bank notes outstanding at the end of the year 1909:
Total notes held, probably 100,000 rupees =£6, 666, Indian government notes held
mostly by the treasury. No other notes in circulation. (Government treasuries with
respect to Aden are located in Bombay: there are no statistics here except those of
the trade of the port; no mints, statistical bureaus, nor boards of trade. The informa¬
tion gathered herewith is from the manager of the National Bank of India. It leaves
much to be desired, but no better could be secured.)
8. There is no premium on gold. Actual currency of the country: £1 = 15 rupees
(Indian silver currency).
9. No laws were passed in 1909 affecting the currency or banking.
10. Report on mint work: No mint.
11. (a) Import and export of gold, (6) import and export of silver during the year
(Mar. 31, 1908, to Mar. 31, 1909): ^
GOLD.
Classification and country.
Imports.
Exports.
Gold coin:
United Kingdom .
Rupee*.
26, 100
Rupee*
8,500
7,095
400,500
45,254
Somaliland .
3* 030
Zanzibar and Pemba .
Perim . . .
9 750
India (Bombay) . .
1*800
1 017,345
Austria . .
2*610
15,540
Abyssinia . .
Italian East Africa .
Egypt . .
Jiddah . .
1,500
978 598
375
Ilodeidah . .
Mokha . .
Arabian Gulf ports. . .
Lohela . .
DJlbonti and Obokh . .
Ceylon . .
Straits Settlements. . . .
Karachi. .
516) 978
23,475
110,193
17,850
76,925
10, 215
28,750
150,000
40,530
France . .
North Africa . .
Total .
9,750
60,000
18,125
132,813
1, 944, 792
1,831, 569
■■■*■* EM2ZCTC® rsf 3C3T-
_ UZSslB
= II ‘=
. . . . ± _ j
_ _ v*36 S.SM.3B
g, ~ tbt tnk i»i rarjgiTtw recaras lie PW Trart far
__ - g Mxr fi7» 7Vy««»iib*Mpfc*»Tit«8?--
12. Description of the coin* of the ctwnuv: The Mem Tt™a ;»
ME>1 thvK UHMTflT at Hodeidah; the mahmodi=to 20 e»=to tflf mark, w m
y.in Ae^mxi ^
a tke Y«»en'uid eridauly «re coin* loud «»«»"“«£
of naibsu Y-nxm and die cnontry «nmnd Ind>aa and E^Wi cnmnc>
“Jy «® *• Bntiih p-**0^
in Arabia. _
CHINA.
Amot.
Ansvren to interrogatories, 1909 .
1. Amount of gold and rilvor coined during the calendar year 1909: None.
- #. _ . _ . (ii o-oU and silver coin and bullion in the district on Decem-
b^'s^SSofSh^^n inTai Wan Bank, $493,200 (gold); silver coin in circulation,
of Government and bank notes outstanding at the end of the year 1909:
I*oed by—
Notes out¬
standing.
Legal-ten¬
der silver |
holdings.
109, 87U 00
$69,870
Tri W«n Bank- : Ru. .
IS, 676. 80
Hoogkonc sod &b*n*b*l Hun* .
_ in t.nI,«rv 20. 1910, and that the amount of their bank notes outstanding (bank
notes nut into circulation f up to date. May 12, 1910, is $200,000, for which over $150,000
is held for their redemption.
These figures are Mexican, being equivalent to $82,000 gold at the present Gov¬
ernment rate ($0,411).
214
REPORT DIRECTOR OF MINT.
8. Premium on gold during 1909:
Tal Wan Bank:
Highest .
Lowest .
Average....
Per 1100.
l&M
—
1&M
The actual currency of the countryis as follows:
Tai Wan Bank, dragon dollar; "Hongkong and Shanghai Bank, Mexican dollar.
“Chopped yen and chopped British dollars are the currency at this port. They are
circulated at a daily price in the market here. Last year the highest price was par
and the lowest 12 per cent discount. The chopped Mexican dollar or, as it is called
here ‘Spanish dollar, * is the currency of this bank (Hongkong Bank) and the Customs’
Bank; it is by weight at the rate of 72 taels for $100. It can not be circulated in the
market except for payment of customs duties. The Hongkong and Chinese small
coins are circulated at a daily price in the market. Last year tne highest price was
about 5 per cent discount and the lowest 8$ per cent discount. There are no gold
and silver bullion in the market. The gold coin is circulated in the market at a daily
price. Our notes issued amount to $45,491 . * *
9. Laws passed during tne year 1909 affecting the coinage, currency, or banking:
None.
10. Report published on operations of mint: None.
11. (a) Import and export of gold during the calendar year 1909:
Exports from Hongkong:
Gold coin . $34,477
Gold bullion . 71,254
11. (6) Import and export of silver during the calendar year 1909:
SILVER.
Classification and country.
Imports.
Exports.
Silver coin:
Hongkong .
$418,806
40,526
803,704
764,579
228,209
$650,325
2,369
163,619
6,250
31.063
Japan and Formosa .
Foochow, China .
Shanghai, China .
Swatow, China .
Total .
2,255,826
862,646
542
Silver bullion, Foochow, China .
Canton.
Ansuers to interrogatories, 1909.
1. Amount of gold and silver coined during the calendar year 1909:
SILVER.
Denominations.
Number
of pieces.
Value,
dn gold).
New coinage:
20-cent pieces .
65,410,000
6,001,000
Dollars .
Total value . .
$7,377,864
No gold coined.
2. Coinage executed for other Governments, or by other mints for Canton, during
1909: Nil.
3. Estimated weight of lino gold and fine silver used in the industrial arts during
the year 1909: Unable to ascertain weight, but silver bullion, gold double eagles,
sovereigns, and yen, and domestic copper coins were used.
4 United States gold coin imported, or melted during 1909 : None (mint is for silver
and copper coinage only).
ropiyA)m0imt °f 8°ld 1X11(1 BllV0r from mines of the country during 1909 : (No
report director of mint.
215
6. Approximate stock of gold and silver coin and bullion in the country on Decem-
h*? ^Amount ^Government and bank notes outstanding "
Canton taels notes issued by the Government to a value of $9,000,000 or $10,000,000.
Gold holdings, none. Legal-tender silver holdings, not known.
8. Premium on gold during 1909 :
Highest..
Lowest..
Average..
Percent.
. 9
.
Actual currency of the country: Silver subsidiary coin based on the current price
fc^awtf passed during 1909 affecting the coinage, currency, or banking: None,
ll 'oTgold during the year 1909: Gold coin, imported from
Hlf(6)^“rnd ixft orsilver during the year 1909:
SILVER.
Classification and country.
Imports.
Exports.
Silver coin. .
i $886,813.80
11,863.00
i $5,956,115.00
09,242.88
Silver bullion .
1896.676.80
* 3,352,338. 56
16,025.357.88
i 22,400.00
i Gold values.
Fohxien Province.
Answers to interrogatories, 1909.
land 2. Amount of gold and ml wro^d^TOr^exreut^forotherg) c
and fine silver used in the industrial arts during
1909:
Material used.
Gold.
Silver.
Pounds.
104
416
Pounds.
267
3,600
Old plate, Jewelry, etc. (about) .
Total . . . .
530
4,167
4 United States gold coin imported, or deposited at mint and n
N°5n Gold and silver produced from mines of the country durin*
nlSSa‘te st^of^ld and silver coin and bullion in the e<
31, 1909:
lelted, dui
r 1909: Noi
mntry on I
ing 1909:
ne; there
lecember
Character of stock .
In public
treasuries.
In banks.
In circula¬
tion.
Gold coin (non. Mown to b. on tnodi .
$900,000
147,000
Mexican
dollars.
150,000
Silver bullion .
1,047,000
150.000
Total .
216
REPORT DIRECTOR OF MINT.
7. Amount of government and bank notea outstanding at the end of the year 1909’
Government notes, unknown (reported $2,800 Mexican). Notes of banks of isnip'
$1,382,800 Mexican. *®ue’
9. Laws passed during the year 1909 affecting the coinage, currency, or banking-
In 1908 a set of regulations were issued by the central Government at Peking requiring
native banks to register at the Government bank and deposit legal tender but it has
never been enforced.
10. There is no published report. The local mint has stopped coinage, by royal
edict from Peking, and no report has ever been made public of the coinage therein
which was always of subsidiary silver or copper coin.
11. (a) Import and export of gold, and (b) import and export of silver during the
calendar year 1909: 6
GOLD.
Classification and country.
Imports.
Exports.
Gold coin, Shanghai .
*204.75
uUUl I / LllllOH , MlUDKIlal...
$4,914.00
33,824.70
Hankow Province.
Annins to interrogatories , 1909.
3aooo''mnLC?in/H d,OTing the year 1909: Silver sycee
„ cno value 01 3.000,000 taels (Hankow) were eninoH i„(„
to the vXeof 3ao^Bnm LC?ln/H d,“ring the cal<*nd" ye" 1909: Silver sycee
Tcoinace k (Hankow) Wl>r<> l'0‘ned into Hupeh silver dollars.
19. None other governments or by other mints for Hankow during
and fine — - ** w
NoneUmte<i StaU* 801,1 Coin imP°rted and deposited at mint and n
e! °f the °0Untr>- ^ng 1909:
ber Sl.^o Twe^y) 8 COm “nd buMion the P
7 A TVS V. • * w. 4- __ g * _
Issued by—
Notes outstand¬
ing.
Legal-tender
silver holdings.
Hupeh government:
Bank notes .
Bonk dollar notes .' .
Banks of issue. . .
Total .
Hankow tael t.
‘15.000.000.000
8,550.000
10,550.000
19,100,000
Hankow taels.
. Vg’ooo, 666
1 Syoee held as reserv e aga
Inst note Issue.
REPORT DIRECTOR OF MINT.
217
9. Uwf aSecting the coinage, cunency, or banking:
'*10. Jteport published on operations of mint: None. ofto. w
U (a), import and export of gold dunng the , calendm year 19M. None.
11(6). Import and export of silver during the calendar year 1909.
SILVER.
[Taken from imperial maritime customs report for 1909 ]
Classification and country.
Imports.
Exports.
- - -
Silver coin:
*49, $42
176,347
3.915
2,818
8,769
20,932'
*1,760.924
534.980
135,242
. i.'eio
1.714
92.431
4,082
25,684
. . .
Nanking . . .
. . .
KInktang . . .
. . .
Changsha . .
Shasi . .
Ichang . .
262,623
2,556,667
SArer bullion:
5,007.226
618.044
124,200
4,600
182,448
1,905
311,834
30,616
245, 410
3,450
Nanking .
Klnklang . — * . .
312, 541
125.971
144,900
94.957
366,820
6,526.283
1.048,639
Germans Introduce New Coins at Tsinotau.
.From Monthly Consul* and Trad. Reports. Man*. 1»10.1
Vice Consul Edgar KoPP. of Tsingmu. transmit the following report on new cur-
reThe^ennan<Goveniment at '^e^
nickel coins of 5 and 10 cent . d l ^ anchor. ''Deutsch Kiautsehau Gebiet
the coins bear the circular! v inscribed around the eagle. The reverse
(German Ktaochow territory) is mese characters. . . _ .
bears the same as the obverse, but inChin ; of 5 and 10 cent coins of Chi-
The money has been issued W remeoyu ■guteJ£m4ncy) wor(h of coins have been
nese currency. Altogether •*!.» v imufflcjcnt.
put into circulation and the supply tho Government treasury recently
To induce tbe CTimcso any amount of these nickel coins against
published
rcuiunw** «■** - - * * ' t *hono coins' tne uovenuueui .wv*-/
ce the Chinese to “JJJ any amount of these nickel coins against
published a prociamationoffenngtoc } and 10 to a dollar and to accept them
Mexican dollars " F^^’SKiUd that in future the use of Chinese and Hong-
for legal tender. It ‘ . d ial(.r entirely barred from local circulation,
kong coins will suffer a discount of 20 per cent, and no more than $1
JstfSSS* i^TcTrrncy^epted in small eoYns of these eountnes.
Hongkong.
Answers to interrogatories , 1909.
no mint in D°ni;konfi- , hero k|ve coillca for them, at the Bombay mint, British
report that various tion fumished by the banks here in regard to the number
silver dollars. The imorn varies from 6,000,000 to 8,374,635.”
co‘DelI.,;rmrt0e?wSt„f"fi no gold and fine silver user! in the industrial arts during
the year 1909: No information.
218
report director op mint.
c* SiT Rold (ioin "“ported during the yeai 1909: No information
produotion8nd * produce<1 from mines °f the country during 1909: No mines; no
l)e%yP19M:ima,e Bt0Ct °f g°‘d “nd 8ilver coin aud bul,ion in the country on Decern-
Gold coin in banks (no gold bullion) * Hongkong dollars.
Silver coin in banks . ' * ' . . 1 1 . 009. 320
Silver bullion in banks .!.’*.*.*!!*’!!.*******’’ . - . * 24.051.045
>000,591
circulation. “° PUbUC treaSUry' No infonna,io“ regarding the amount of coin in
7. Bank notes outstanding at the end of the year 1909:
In banks of Issue:
Mexican dollars
Legal-tender silver toidinp! Mcxlcaii dollar^ . * 16, 687, 651
__ ” . >14,600,000
No gold in colony.
cofonyTJrilwr011 ***'' Ther° ” 1,0 8°ld in the oolor>y- The actual currency of the
N£.. Pa8Sed duri,,g lhe year 1909 Meeting the coiniage, currency, or banking:
ll' Dn^«?S1lahe<L0ntOp^?ti0?80fmiDt; No mint at Hongkong
■ Import and export of gold and silver during the year 1909: No information.
Stuart J. Miller,
Vice Consul General in Charge.
Mukden.
Answers to interrogatories , 1909.
1 Am°Unt of 801,1 and silv<?r coined during the calendar year 1909:
SILVER.
Denomination.
New coinage, 20-ccnt pieces.
Rocolnage, 20-cent pieces . I!*. “ .
_ Total .
Copper, 10 and 20 casii .........
Number of
pieces.
1 52.083.335
*4,912.500
Value.
110,416,667
982,500
56,995,835
23, 009. 267
11,399, 167
1 ^ ^“l083-335 2(Xcnt pieces.
g o ars 90 per cent pure recoined into 2Dcent pieces 80 per cent pure.
Province dulri^TSo#!*601116*1 f°F °ther GoVernrnents. or by other Governments for this
tained. ght °f ^°ld and fine 8,lver u?ed in industrial arts during 1909: Unascer-
Nonc so far as known. ^ °°in ^raPorted or deposited at mint and melted during 1909:
country
t reported.
Character of stock.
In public
treasuries.
In banks.
In circulation.
Gold yon .
Gold rubles.!..*”!’”’ .
Silver coin. .
Silver bullion.!! ! . . .
Total . .
.
1,147.0 0
1,399.10
*245.000
471.200
716.200
*4, 109, 152. 85~
2,149,725.24
6.258 R7X no
$4,099. 000.85
2, 149. 725. 24
r. 9iO 326. 09
* on confldentlal
Figures furnished by oo Ionia
1 information
1 treasurer.
Of O. W
REPOBT DIRECTOR OF MINT.
219
7. Amount of bank notes outstanding at the end of the year 1909:
Banks of Issue:
Notes outstanding .
Legal-tender silver holdings
Do .
Total.
152,640,904.60
*716.200.00
6,258,878.09
6,975,078.09
9. UwA pas^^durinT 1909 Effecting the coinage, cuneucy « banking: None.
10. There is no report published on the operations of the mint.
11. (a) Imports and exports of gold during 1909:
Exports (from Manchuria) to China:
. 12,120
Gold bullion .
11. (6) Imports and exports of silver during 1909:
Classification and country.
Imports
(Manchuria).
Exports
(Manchuria).
Silver coin: .
China . . .
Korea . .
Hongkong and Macao .
Japan ana Formosa .
1994.798
84,221
14,760
*850,871
17,070
. 270*703
1,093.779
1,1*8,644
8llver bullion: .
China . .
4,262,446
350
305,635
4,270
965
Japan and Formosa .
4,262,796
310,890
Nankino Consular District.
Answers to interrogatories, 1909.
and^e wiM^^0A^we?^Neitimk™^c^”mint^n^hls°dSrict^ere in°op*^ion
ThiZi ex^utM1<|or^otbrer<Governm^a^<»t'Cb>0^beri^“^,^jr ** “ce
dT“|8am ISd IdgMoffiue gold and fine silver used in the industrial arts during
^^j^^^tates^ld *coiiT imported , or deposited at mint and melted during 1909:
Nil. , xrnm mines of the country during 1909: Nil. There
5. Gold and sil.v" ^“uver ^ines in Anhwei Province, but no figures as to their
are one or two unimportan
production are^ailab^f ^ ^ gUver coin and bullion in the country on December
316’l90§rNil. t and bank notes outstanding at the end of the year 1909:
7. Amount of goveroment ana ^ $2 759 752 (Mexican)^ bank notes,
Issued by GoverPm.®“-fi(iant Gold holdings, nil. Legal-tender silver holdings,
Highest.
Lowest. .
Average
Ounces
silver.
.. • 43. 00
.. *40.05
... *41.75
passed during 1909.
in operation during 1909.
i T^fbsIwSuhe above Government notes Is limited to 111,000.000.
• Equal to 1 ounce of gold.
220
REPORT DIRECTOR OF MINT..
11. (a) Import and export of gold during the year 1909: Nil.
11. (6) Import and export of silver during the year 1909:
SILVER.
Classification and country.
Imports.
Exports.
Silver coin, Nanking district . .
> SI. 057. 184
>*714,104
1 1,378,413
Silver bullion, Nanking district . .
1 879,285
> United States gold value.
Newchwano.
Answers to interrogatories , 1909.
I and 2. Amount of gold and silver coined; coinage executed for other governments,
or coinage executed by other governments for China during the calendar year 1909:
Nil.
3. Amount of gold and silver used in industrial arts during 1909: No statistics
available.
4. Import of United States gold coin and amount deposited at mints and melted
during 1909: Nil.
5. Amount of gold and silver produced from mines of the country during 1909: Nil.
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909: Gold coin and bullion, nil. Silver coin, in banks, 50,000 haikwan taels
at $0.65=131,250 gold; 60,000 haikwan taels=$37,500 gold. Silver bullion, nil.
It is impossible to divide the money in the banks from that in circulation, as the line
of demarcation between banks and merchants is not very distinct, the more important
firms having banks attached to them.
7. Government and bank notes outstanding at the end of the year 1909: Notes out¬
standing issued by Government (Ta C'hing Bank, Moukden Government Bank, Bank
of Board of Communications), 200,000 haikwan taels at $0.65 =$125,000 gold. There
is no law compelling these tnree semigovernmental Chinese banks to keep a reserve
against their notes issued. By banks of issue (Russo-Chinese Bank, Yokohama Specie
Bank) 200,000 haikwan taels at $0.65=$125,000 gold. No reserve kept specially at
place of issue.
8. Premium on gold. There is no gold currency in this country.
9. Laws during the year 1909 affecting the currency: An edict was promulgated
authorizing a stamp duty, but this tax was never imposed. An attempt was made
by the local authorities to fix the rate of redemption of the transfer tael, but it was
unsuccessful.
II (a) Import and export of gold during the calendar year 1909: Gold imported,
nil. Gold exported, from Shanghai, coin, $1,325 gold; bullion, $11,062 gold.
11 (6) Import and export of silver during the calendar year 1909:
SILVER.
[Values In gold.]
Classification and country.
Imports.
Exports.
Silver coin:
Hongkong and Macao .
Shanghai... . .
Chefoo . . .
*225
10,313
25,220
*332,875
114,375
Chln-wang-too . . .
Inland waters places .
Total .
12.500
4,818
11,117
5,075
53,076
463,442
811 ver bullion:
Shanghai .
773,485
1,250
78,438
57,343
Tientsin . .
Chefoo . .
Amoy . .
Chln-wang-too . . .
Inland waters places .
30,625
3,419
3,287
Total .
887,217
62,505
report director of mint.
221
Peking.
Answers to interrogatories, 1909.
statistics are available.
Shanghai Consular District.
Answers to interrogatories, 1909.
X and 2. Amount of gold and -Wcr coined; coinage executed for other govern-
ofto^randte silver used in the industrial art. during
1909:
Material used.
New bullion .
Old plate, Jewelry, etc .
Domestic coin .
Foreign coin .
Total .
Fine ounce*.
2,152.00
24,614.53
27,460.53
Fine ounce*.
145.630
84,614
1,200,000
1,430,244
4. United States gold coin »m,P0^i^'ft{1^0Umry during 1909; None.
6. Gold and silver produced [from mine* o « ^ >7 in tho country on Decem-
6. Approximate stock of gold and silver com anu
her 81, 1909:
Character of stock.
811ver coin .
Silver bullion..
In public
treasuries.
In banks.
In circula¬
tion.
i 1,500,000
113.111.005
i 6.634.000
<•)
* So figure* obtainable.
7. Government and bank note* outstanding at the end of th- > « ar 1 Kti . ^ ^
G ovemment notes . . .
Note* of banks of issue .
8. Premium on gold during 1909: ^
Premium on 11: . 777.7*7 . IjJij®
Highest . . . . . 7. 7. . . 1 2- 38
pareed during the year 1909 affecting the coinage, currency, or banking:
None.
1:’ («*■*■* anJ cxport of 8i,vcr durins 1909;
Classification and country
Import*.
Exports.
Gold coin: . 777777777777.7 .
gsfeasUfSSa -> .
I/aikiran
tael*.
. 8L813
871,332
Haikiran
tael*.
51,630
. m'jixi
953.145
6G8.332
Total .
Gold in bars, dust, etc.. . *“”*
B^MJ-^^>:;7777i;!7;77;77777:7777::::::::::
Turkestan .
. 40.069
6,289,428
34.000
1,768,580
40.009
7.092.008
222
REPORT DIRECTOR OF MINT.
SILVER.
Classification and country.
Imports.
Exports.
Silver coin:
Haikwan
taels.
Haiktean
taels.
49.999
6,258
3,261,891
3,916.275
1,860
160
Japan (including Formosa) .
401,527
84,332
Korea .
Total . .
3,754,008
3,968.294
Silver In bars and syoee:
Europe . .
10,313,269
4,335.002
39.335
1,386,253
121.883
174. G66
139. 160
136.278
952
1,413
North America. .
Australia . . .
India (Including Burma, etc.) .
1,477.910
606.538
1,194,218
376,171
Straits Settlements .
Hongkong and Macao . . . . . .
Vladivostok . . .
Japan (including Formosa) . . .
Korea . .
Total . . .
16.046.798
3,656,250
Tientsin Consular District (Embracing the Provinces of Chihli and Shansi).
Answers to interrogatories, 1909.
1 and 2. Amount of gold and silver coined; coinage executed for other governments,
or by other governments for Tientsin, during the calendar year 1909; None. The
provincial mint (Province of Chihli) has been closed for some time, the machinery’
neing removed to the Tu-chih Pu mint, which is under the direction of the Imperial
Government. This mint is located in Tientsin. During the year 19(H) it coined
nothing but copper. The total coinage of copper for the year was 138.387.500 pieces
of 20, 10, 5. 2, and 1 cash denominations; face value 1,333,721 dollars (Mexican).
3. Gold and silver used in the industrial arts during 1909; No statistics available;
none kept.
4. United States gold coin imported and deposited at mint and melted during 1909
None imported (officially informed by the imperial maritime customs at Tientsin).
5. Gold and silver produced from mines of the country during 1909; There is some
gold mined in Mongolia, in the northern part of this consular district, but it isimpo»i'
ble to get any information regarding the amount. There is no report made of the
quantity and value of the product. No silver is mined.
6. Approximate stock of gold and silver coin and bullion in the country on Dcccm*
ber 31, 1909: No information whatever can be obtained on these points.
7. Government and bank notes outstanding at the end of the vear 1909: There arc
no direct government note issues. There is a large number of Chinese private ban**
which issue notes, but there is no record whatever of the amount of such issues. 1
various foreign banks located in Tientsin, Peking, and other cities have large non
issues, but no information as to volume iB obtainable.
8. Premium on gold; Yes.
Peace
per
Price of silver bullion: oUD<*;
Highest . .
Noedteto&onthe^?8" 1909 affW,ing thc coinage'
. “ no ,rcP°rt of any mint published . The mining interests of
i^Hn^A.l^H0ntr° of a burcau of the NungKungShang Pu, or board of agricult O'
^S iC?^™.0rCe-. No min'n6 report h<£ been pubUshed so far as <=*»
lt^ed, and no statistics of production appear to be kept
mport and export of gold and silver during 1909: No reply. _
1 May 6, IKS. • Oct. at ana Nov. 1. ’I*11109-
REPORT DIRECTOR OF MINT.
223
[Translation.]
Copper Money in China.
[From 1/ Economist* European, Paris, November 19, 1909.]
A question has been taken up recently in the House of Commons on the subject of
the depreciation sustained bv the copper money in China during late years. Accord¬
ing to Mr. Jovnson-Hicks, that depreciation has not been less than 62 per cent in the
space of four vears; the tael, which was valued at 1,100 cash in September, 1905, was
valued at 1,7TB in September, 1909. Mr. Joynson-Hick s has inouired of the president
of the board of trade whether that depreciation has attracted the attention of the
Chamber of Commerce of Shanghai ; if the commerce of the exports to Lancashire has
not vet been affected; if, in conformity with the Mackay treaty of 190- the < ChuMae
Government has taken anv measures to remedy that state of thing!?; finallj , if the
English Government should not interfere under those circumstances
In response to that inquiry the secretary ?f state for foreign affairs has ‘decked that
a heavy depreciation has, in fact, been taking place recently in the value of Chinese
that an improvement will take place before long.
INDIA.
Answers to intcrroga toriis , 1909.
1. Amount ot gold and silver coined during the calendar year 1909:
Number of
Vain*.
Denominations.
pieces.
Recoina^e of domesuc coins (silver): .
22.2K.746
1.471. M3
1.206.791
Rupee*.
22.238.746
735.971.50
151.0fl6.S75
Half rupees . —
Eighth rupees .
Total .
24, 919, 480
23.125,816.375
2 °(eT*Coinage^ executed lor other government*:
Silver lOoent P««« tor ^ . . . 12.631,470
al« « coinage of 25.000 copper cent piece*, and 10,000 hal^ent piece*
lor the Ceylon go'ernment. min„ for i„dia during 1909: Nil. (Sovereign.
2. (M Coinage ifu, this country in the ordinary course.)
and half sovereign. *re tmportM ^ fine rilvcr used in the mdu.tn.1 art. during
3 Estimate* *i tip
1909- Information not avaiw. • coin wero reported during the year 1909.
4 No imports of l 111 uced from mines of the countiy during 1909: Do¬
s’ Amount <****•&}$£ and from placer mining, 17,400 kilograms
meatic production. ^
‘^'Jvtia^'in India.
226
REPORT DIRECTOR OF MINT.
SUPPLY ANI> ISSUE OP CURRENCY NOTES.
9. (1) The head commissioner shall provide currency notes of the denominational
values prescribed under this act and shall supply the commissioners and the currency
agents subordinate to him with such notes as they' need for the purposes of this act.
(2) The commissioners alia.ll supply the currency agents subordinate to them,
respectively, with such notes as those agents need for the purposes of this act.
(3) Every such note, other than a universal currency note, shall bear upon it the
name of the town from which it is issued .
10. The name of the head commissioner, of one of the commissioners, or of some
other person authorized by the head commissioner, or by one of the commissioners,
to sign currency notes, shall be subscribed to every such note, and may be impressed
thereon by machinery, and when so impressed shall be deemed to be a valid signature.
11. The officers in charge of circles of issue shall, in their respective circles, on the
demand of any person, issue, from the office or offices of issue established in their
respective circles, currency notes of the denominational values prescribed under this
act, in exchange for the amount thereof—
(a) In rupees or half rupees or in gold coin which is legal tender under the Indian
coinage act, 1906; or
(b) In rupees made and declared to be a legal tender under the provisions of the
native coinage act, 1876.
12. Any currency agent to whom currency notes have been supplied under section
9 may, if he thinks fit, on the demand of any person, issue from nis agency any such
notes in exchange for the amount thereof in any coin specified in section 11.
CURRENCY NOTES, WHERE LEGAL TENDER AND WHERE PAYABLE.
13. The officers in charge of circles of issue shall, on the requisition of the comptroller
general, issue to any Government treasury currency notes in exchange for gold coin
which is not legal tender under the Indian coinage act, 1906, or for gold bullion at
the rate of 1 rupee for 7.53344 grains troy of fine gold.
14. If the secretary of state for India in council consents to hold in gold coin or
bullion, or in silver bullion, or in securities of the kinds mentioned in section 22, the
equivalent in value to notes issued in India as a reserve to secure the payment of such
notes, the Governor General in council may from time to time direct that currency
notes shall be issued to an amount equal to the value of the coin, bullion, and securi¬
ties so held by the secretary of state lor India in council.
lo. A universal currency note shall be a legal tender at any place in British India,
- a“y°Uler currcncy note shall be a legal tender at any place within the circle from
which the note was issued for the amount expressed in the note in payment or on
account of —
(а) Any revenue or other claim, to the amount of 5 rupees or upward, due to the
Government of India, and
(б) Any sum of 5 rupeesor upward, due by the Government of India, or bv any body
corporate or person in British India:
Provided that no currency note shall bo deemed to be a legal tender by the Govern¬
ment of India at any office of issue.
CURRENCY NOTES, WHERE LEGAL TENDER AND WHERE PAYABLE — RESERVE.
16^ A cumsney note shall be payable at the following offices of issue, namely:
(a A universal currency note at any office of issue: . ■
town fmm ’ Xc? * Umvereal currcncy ™te at any office of issue in the
bo^payliblf— hlt aDy SUeh Doto i“u0<’ ljafoTO *0 commencement of this act shall »lw>
ofi»uIoni*Ca<Stm,annd‘<i ^ ‘h° offlce at <'awDP°re OT Othore, at any office
BombaJ.D th° CaS° 0t “ n°t0 ifflued from office at Karachi, at any office of issue in
aooncvshl!iet.r,'i[^f,Ht,"0[tion“t15 and 16' currency notes issued from anv ouncocy
5to bo 1T« h(‘fn “"cd from the town appointed uniicr section
18 Whore an offion^ V* °{ issue in which that agency is established
notification in the (\170fL! r c tho Governor General in council shall. .
noun canon in the Gazette of India, direct that with pffoct from the date of the closing
15 and 16 be n°if8 therefrom shall, for the purposes of
in sSch notihcaUon * httV° be°n such other office ia may be spewed
REPORT DIRECTOR OF MINT.
227
Zh°]\ amount currency notes at any tirue in circulation .hall not exceed
the total amount represented by the sovereigns, half sovereigns,] rupee*, half rupees
and gold bullion, and the sum expended in the purchase of t sUver bullilmanci
securities, which are for the time being held by the secretary of state for India in
Governor General in council as tt reserve to provide for the satis¬
faction and discharge of the said notes, and the said notes shall be deemed to have been
S,iiedh0n he Cre?^ °f ^ Government of India a-, well a.* on the security o?the said
com, bullion, and securities: 3
that’ for th* P^P08^ of this section, currency notes which have not been
*or Pa3:r*P?nt m the case oi notes of any denominational value not exceed¬
ing 100 rupees within 40 years, and in the case of notes of any denominational value
exceedmg 100 rupees within 100 years from the 1st day of April following the date
of their issue, shall be deemed not to be in circulation :
Provided further, that all notes which are declared under the first proviso to this
section not to be in circulation shall be deemed to have been issued on the credit of
the Government of India and shall, if subsequently presented for payment, be paid
from the revenues of the Government of India.
20. Subject to the provisions of section 19, the Governor General in council may
at any time, if he thinks it expedient, convert any of the coin or bullion for the time
being held by him as a part of the reserve into coin of any of the kinds mentioned
m section II or into gold or silver bullion.
21. If any coin or bullion held by the secretary of state for India in council or by
the Governor General in council as part of the reserve is transmitted by the secretary
of state for India in council to the Governor General in council, or by the Governor
General in council to the secretary of state for India in council, it shall be deemed
during the period of transmission to remain part of the reserve referred to in section 19.
22. The securities mentioned in section 19 shall be securities of the United King¬
dom of Great Britain and Ireland or of the Government of India, or securities issued
by the secretary' of state for India in council under the authority of act of Parliament
and charged on the revenues of India, and the value of them at the price at which
they arc purchased shall not exceed one hundred and twenty millions of rupees:
Provided that the value at such price as aforesaid of suen of the said securities as
are not securities of the Government of India shall at no time exceed twenty millions
of rupees.
23. The securities purchased by the Governor General in council shall bo securities
of the Government of India, ana shall be held by the head commissioner and the
master of the min tat Calcutta, or of such other mint as the Governor General in council
may direct in this behalf, in trust for the secretary of state for India in council.
24. (1) The head commissioner may at any time, when ordered so to do by the
Governor General in council, sell and dispose of any of the securities held under
section 23. ...
(2) For the purpose of effecting such sales, the master of the mint at Calcutta or
of such other mint as aforesaid shall, on a request in writing from the head commis¬
sioner, at all times sign and indorse the securities, and the head commissioner, if so
directed by the Governor General in council, may purchase securities of the Govern¬
ment of India to replace such sales. ...
25 An account snowing the amount of the interest accruing on the securities held
as part of the reservo under this act, and the expenses and charges incidental thereto,
shall be rendered annually by the head commissioner to the Governor General in
council, and published annually in the Gazette of India.
PRIVATE BILLS PAYABLE TO BEARER ON DEMAND.
26 No person in British India shall draw, accept, make, or issue any bill of ex¬
change hundi, promissory note, or engagement for the payment of money payable
to bearer on demand, or borrow, owe, or take up any sum or sums of money on the
bills, hundis, or notes payable to bearer on demand, of any such pennon.
Provided that checks or drafts, payable to bearer ou demand or otherwise, mav be
drawn on bankers, shroffs, or agents by their customers or constituents, in respect
of denari ts of money in the hands of those bankers, shroffs, or agents and held bv them
at Llie credit and disposal of the persons drawing such checks or drafts.
27 fli Anv person contravening the provisions of section 26 shall, on conviction
bv a Presidency magistrate or a magistrate of the first class, be punishable with a
fine equal to the amount of the bill, hundi, note, or engagement in respect whereof
the offense fa committed. #
228
REPORT DIRECTOR OF MINT.
(2) Every prosecution under this section shall be instituted by the officer in charge
of the circle of issue in which tho bill, hundi; note, or engagement is drawn, accepted,
mode, or iwuod.
SUPPLEMENTARY PROVISIONS.
28. An abstract of tho accounts of the department of paper currency, showing—
(а) Tho wholo amount of currency notes in circulation;
(б) The amount of coin and bullion reserved, distinguishing gold from silver,
and showing separately tho amount of coin or bullion held by the secretary of state
for India in council, or in transit from or to India, or in the custody of the mint master
during coinage: and
(c) The nominal value of and the price paid for the securities held as part of the
reserve, showing separatelv tho<e held by the secretary of state for India in council
and those held in India under section 23,' shall be made up four times in each month
by the head commissioner, and published as soon as may be in the Gazette of India.
'29. (I) The Governor General in council may make rules to carry out the purposes
and objects of this act.
(2) In particular and without prejudice to the generality of the foregoing power,
such rules may —
(a) Fix the denominational values (not being less than 5 rupees) for which cur¬
rency notes shall be issued ;
i6j Provide for the alteration of the limits of any of the circles of issue;
c) Declare the places at which currency notes shall be Issued; and
d) Fix and notify the conditions upon which lost or mutilated currency notes
may be paid at offices of issue.
(3) Every such rule shall be published in the Gazette of India, and on such pub¬
lication shall have effect as if enacted in this act.
30. The enactments mentioned in the schedule are hereby repealed to the extent
specified in the last column thereof:
Provided that all securities purchased and notes issued under the Indian paper
currency act, 1905. or any act thereby repealed, shall, if undisposed of or in circu¬
lation at the commencement of this act, be deemed to have been respectively pur¬
chased and issued under this act:
Provided also that all currency notes, which under section 29 of the Indian paper
currency act, 1905, are to be di'eraed to have been L*med from the office of issue in
the town of Oawnpore, shall still be deemed to have been issued from that office.
THE SCHEDULE— ENACTMENTS
(See section 30.)
REPEALED.
Year
No.
Short title.
Extent ol repeal.
1905
Ill
The Indian paper currency act. 1905 .
So much as has not been repealed.
1909
11
. The Indian paper currency (amendment ) act,
| 1909.
The whole.
10. A copy of tho report on the operations of the mint for the official year 1908-9
and a copy of the report on mines for 1908 are inclosed herewith.
11. ( a ) Import and export of gold. <b) import and export of silver during the calen¬
dar year 1909:
GOLD.
Classification and country.
Gold coin:
United Kingdom .
France .
Austria-Hungary.
European Turkey..
Asiatic Turkey. ...
Aden, etc . .
Arabia.
Rupee*.
15.4SS.300
535. 109
341.336
36,002
5.044. S95
2.075.404
84.730
6,565
Exports-
Rupee t.
9.817
130
152. »1
19.012
REPOET DIRECTOR OP MINT.
229
GOLD Continued
CliUMlflnstton and country
Gold ooln— Contlnuod.
Strolls Settlement*. .
Jopoo . ..........
Nol*pil.
Host Africa .
Mauritius . .
Australia (Including New Zealand) .
All other countries . .
Total (private) .
Total (Government) .
Grand total .
Gold bullion:
United Kingdom.. .
Asiatic Turkey. .
Aden. etc. (private)
Ceylon .
Btralts Settlements .
China .
Natal .
East Africa .
Australia (Including New Zealand)
AU other countries .
Total..
I in ports.
Exports.
Kuptti.
1, ftft, M3
Jlupttt
3,220
1,234,04
1,107
«M26
20,270
7,100
11,2 32, Mu
000
1,422
. 07,020,343
612,270
138,000
07,104.243
M, 620, 430
22,643,720
0,246
40,220
2,022
012, 422
602,120
* 6,2 22
7, 770,024
ao •in
21
12, 1M
17,006,066
. 606
' 22,007,720
22, 621,712
SILVER.
Silver coin:
United Kingdom .
27,174
2,776
22
161,000
21,310
3, 126.200
4.300,000
063,744
6.204,001
072.662
112,000
6,000,302
i. 466, 400
1,200,000
1,016
France . .
Austria-Hungary.
Asiatic Turkey .
Aden, etc -
Arabia .
Bahrein Islands
Persia . .
Ceylon .
Btralts Settlements . • • ■ .
Slam . -
China .
ISn.ru.::.:
727
2,026
1,330.666
223, 136
420,360
IM lOt
MM . urn
24.766
2,267,461
V, 124
76,014
12.766
662,413
6.766
6,220
Total (private).
7,002.140
1, 020, 246
27,071, m
44. 100
Total (Oovaminent).
6,(02.304
26.016.762
Silver bullion:
106,004,(00
007,014
6,466
1,021
1,217,816
m
10.4(0,410
at -.7i
4.744,0001
46, 447
Asiatic Turkey (private) .
Ceylon .
Btralts Settlements.
Siam .
East Africa'. .’. - -
Mauritius . ■
United Slates of America- . . .
‘ 17,220
3,446
114,760
4,001
•«. 44*.
'no
11, 0M
Australia (tnchidta* New Zealand) ....
607
All other countries-
Total .
124,006,720
212,722
i v.Kiwn U> bo imported into India.
Gold ore w not known w ^
230
REPORT DIRECTOR OF MINT.
Report op the Director op the Mint, British India.
From 1835 until 1S99 the standard of this country was silver an<l the monetary unit
the rupee, of the legal weight of 180 trey grains. fineness 0.910} and containing 165
grains of fine silver.
The weight, fineness, and legul-tendvr power of the silver ruin* of It nib have
remained unchanged since the enactment of Act No. XVII of 1835. which demone¬
tized gold, though still rennitttug p»ld to he coined in the mints, and established the
silver standard. That law provided that the company's rupee — that is, the rupee of
the East India Co. (a tenn sujperseded in 1862 by the term ‘ Government rupee-,
should be of the weight aud fineness mentioned alxtve and that the rupee and half
rupee should be unlimited legal tender in payment or on account.
Provision was also made for the coinage of subsidiary silver, namely, one-quarter
and one-eighth rupees, commonly known a* 4-anna and 2-anna pitx-ew. which are local
tender for not men' than the value of fruct ions of 1 rupee. These coins are of the name
fineness as the rupee and half rupee. aud of proportionate weight. The rupee aud
half rupee remain legal tender until they have lost more than 2 per cent below stand¬
ard weight, or unless they have been clcfaced. The quarter rupee and eighth of a
rupee are legal tender, if they are not more than 12} per cent below standard weight
and have not boon defaced. Rupee and half rupee not more than (ij per cent below
standard weight, ami 4-anna and 2-anna pieces which are not more than 25 per cent
below standard weight, are received at the treasuries at their nominal value i provided
that they have not been fraudulently defaced) and an* cut and withdrawn from
circulation.
Bv Act VIII of 1893 the Indian mints were closed from the 26th of June of that vear
U) the receipt of silver for coinage from the public, but the Government retained
power to coin rupees aud fractions thereof at the mints on its own account The profits
realized on the coinage of rupees is held as a gold reserve to guarantee the fixed rate
of exchange.
Until 1835 gold coins were legal tender. They were the gold rnohur, which was
equivalent to 15 rupees, and a double gold inoliur, or 30-rupee piece, a Id-rupee,
and a 5-rupeo piece. The muhnr was eleven-twelfths tiue gold and weighed ISO
grains, of which 165 grains were tine geld. The other gold coins were of the same
fineness and of proportionate weight. These gold coins ceased to circulate as currency
since 1835 and, indeed, were practically not current before that year. Though a
certain number were struck in the mints more or le*** regularly down to 1891-2, they
were not struck ior circulation, but were used l v the public as ornaments or for other
similar purposes. In the future these coins will uot enter into circulation or ho a
part of the Indian monetary system. That system has been settled as follows: Bv
Act \ III of 1893, Act XXII of 1899, and Act fll of 1906. and the subsidiary notifica¬
tions and orders issued under these acts.
The monetary' standard is gold, and the unit is the sovereign coined iu the roval
mint in London, or in any’ branch of the royal mint. The sovereign b legal tender
at the rate of 15 rupees, as long as it has not lost weight beyond the limit prescribed
as the least current weight, or been vailed in. The half revereigu is abo full local
tender at the rate of 7} rupees. The Government for the preeent undertakes to receive
sovereigns and half sovereigns from the public in exchange for rupees at the rate of
15 rupees and rupees, respectively; the Government also issues sovereigns ami
?,\fre,KU5» as far as convenient. in exchange for ruptes at those rales Rupees
and half rupees remain full legal tender, in payment or on account, side bv side
with the aivereign, at the rate of 15 rupees to the sovereign.
Report upon the Operations or the Paper Currency Department during the
Year 1908-9.
Calcutta, July SI, 1909
To the Secretary to the Government of India, Finance Department, Simla.
d iXohe' Jw'IsSi'* I''PUrt UP°“ *• °P~»do“> xf ll«- P»P« oum'iK'y
*
(told, silver . aud not«. On .ho 1m of January . 19a<. Covoro-
th« w>T,U , nil T?^’ ^nci tlu* pw«d«u\v luuhs hold X 100.000. When
Bv the « ik 1 d ' ln- °^?di*nc® Xo Gresham * law . began to duapmur
n^ddenev hl^ki i” ’ PJR!'U<^ly Ui0 "Hole stock held by Government and the
yBSS5S ^»PP«nuice is more or lJe final, for the gold is
’ * hoarded. In addition to this stock there was a considerable
REPORT DIRECTOR OF MINT.
231
quantity in the hands of the public which has suffered the Rame fate During the
last four year* India has absorbed £13,000.000, the absorption in 1907-S being no
less than £6.000.000. What amount of this circulated must alwavs remain a matter
of more or less scientific guesswork, but it can not have been less than £2.000 000
The monetary loss of gold, therefore, is understated at £3.000.000+£2.000.000, or*
say. £5,000.000. Turning to silver, the loss can be measured with accuracy bv
the amount of reverse consols sold, which came to £6.000,000. Turning lastly to
notes, it can not. I think, be said that the drop in the circulation of high value notes
is a diminution in our monetary supplies. In bad vears the Government receivw
fewer rupees (which it converts into high value notes ^ and pays out more rupe<* (which
it obtains by realizing high value notee). But the net result’ is merely a change in the
form of currency held by Government and the people.
Summing up. therefore, during the worst period of last year, the monetary stocks of
British India diminished by at least 5.000.000 sovereigns and £S. 000 .000 of rupees,
whilst the circulation of high value notes dwindled, owing to bad harvests.
A noticeable change during the year has been the passing of Act 1 1 of 1909. by which
the universal 5-rupee note has been extended to the Province of Burma. The alter¬
ation is too recent tor us to judjje of its effect. (A scheme for making 10-rupee and 50-
rupee notes universal, has received the sanction of the secretary of state and will be
introduced as soon as the necessary legislation is carried out.)
The year 1908-ft opened with a stock of gold in the currency reserv e and treasuries
in India valued at £2.922,286.5, and the closing balance was worth £86,004.5. (In
addition to this, gold to the value of £1.500.000 was held in the currency chest in
England.) There were no transactions in gold in India during the year on account
of the gold standard reserve, as there was practically no profit creditable to the reserve,
and the payments to it that were necessary were made in silver.
The net transactions with the public in the year under report resulted in the aggre¬
gate in an issue of nearly £2.600.000, against about £1.000.000 in the previous year, and
a receipt of £ 1.000.000 'in 1906-7. . „ .
Owing to adverse trade conditions, there were practically no imports of sovereigns
during the year, the receipts at the currencv offices from imports having amounted to
the negligible sum of £75,000 against £5,250,000 in the previous year. The public
demand Tor gold had therefore to be met entirely from the stock in the currency
reserve and treasuries, which proved inadequate to satisfy the demand. The indents
from the several Provinces for supplies of gold could not be complied within full evon
at the beginning of the year, and the stock of gold in the currency offices was almost
exhausted bv the middle of the year, when issues to the public practically ceased.
The following figures show the net absorption of sovereigns from treasuries and cur¬
rency offices in each of the five years ending 1908-9 The absorption in the year under
report would have been higher than ever had gold been available:
1904-.'; .
19Q5~<> .
1906- 7 .
1907- 8 .
1908- 0 ....
.... £2.200,000
.... 2.700.000
.... 3.900.000
.... 6.200.000
. 2,400.000
* * *
The details of the (told held iu Iudia on the last day of the year are as follows:
Description.
Current- weight sovereigns * .
Light-weight sovereigns and haJf sovereigns
Currency.
Treasury
and mint.
Total.
£21,921
£00,771.5
£82,092.5
1.493
1,819.0
3,312.0
23,414
02,590.5
86,004.5
, ... u„vf>reiirns and half sovereigns and gold bullion can not be utilized
As light-weight ^ cointJ and bullion to the value of £240.248.6 was sent to
in India, ft remittance
London in September, -(andard reserve at the beginning of the year stood at
The balance of tnc
£18.318,054, made up as l ^
Purchaso value of sterling securities....
Col£d ™p«« ^ of balances of unitary of state . 1.131.223
j-aa-ffisawsr ~ . — !l«
232
REPORT DIRECTOR OF MINT.
The most important transaction during the year in connection with the gold stand¬
ard reserve was the sale in India of sterling bills on the secretary of state for £7.988,000,
the par value of the bills being paid in rupees into the Bilver branch of the gold stand¬
ard reserve in India, whilst the secretary of state paid for the same by equivalent with¬
drawals from the reserve in Ixmdon (vide paragraphs 73 and 74 of the financial state¬
ment for 1909-10). To enable him to pay the bills, the secretary of state sold gold
securities having a nominal value of £8,100.497. Including some minor transactions,
the sale of gold standard reserve securities in 1908-9 amounted to £8,110,959 (nominal
value), and resulted in a net loss of £121,109, as compared with the cost price of the
securities, £7.760,747, the sale proceeds amounting to £7,639,638. This lo6s was, how¬
ever, more than covered by additions to the reserve to the extent of £306,220.
*******
The rupee coinage of the year amounted to 251 lakhs. 1 148 lakhs at Calcutta and 103
lakhs at Bombay. No coinage was undertaken during the year from newly purchased
silver, and the entire amount coined was from withdrawn and uncurrent coin.
Statement of Whole Rupees Coined and Issued from the Indian Mints, from
1903.
Calendar years.
Coined In
Calcutta.
Coined In
Bombay.
Total.
1903.... .
1904 . . .
Rupert.
/ 125,000
\ 49.378.355
58,338,617
51, 257, WCt
104,797, 164
81,338,000
20,217,728
3,800.000
Ruptct.
52,960, 151
101,940,291
70,202,22 3
L58, 953,209
170.911,810
10,714,770
2.766.970
Rupert.
‘25.000
*102,347.506
*160,278,908
« 127, 4<4), 106
‘263,750,433
•252,249,816
30,932,498
* 6,566,970
1905 .
1906 . .
1907
1908 .
1909 . .
Total . .
309.152,747
574.458,490
943.611,237
' Coined in 1902.
1 Includes 1,106,451 rupees coined for native states.
* Includes 594,221 rupees coined for native states.
4 Includes 328,000 rupees coined for native states.
» Includes 390,310 rupees coined for naUve states, and Rs. 433 lakhs (Calcutta 32 lakhs and Bombay 135
akhs) coined from gold standard reserve silver
• Includes Rs. 94, 7G6 coined for native states and Rs. 433 lakhs (Calcutta 168 lakhs and Bombay 265 lakhs)
coined from gold standard reserve silver
1 Up to Mar. 31, 1909.
The Metallic Reserve.
The following tabic shows the gross circulation and the composition of the metallic
reserve of the currency department on the last day of each month of the year:
Coin and bullion reserve.
Month.
Gross
circulation.
Sliver coin.
Gold roin
and bul¬
lion.
Silver
bullioa
under
coinage.
Gold coin
and bul¬
lion in
England.
April .
May .
June .
Julv . .
1908.
.piPH!!
Rupeet.
252. 900, 000
262,800,000
271,000. 000
7m wi nm
Rupeet.
33,300.000
23,900.000
19.100.000
IQ 1 (Ml rvvi
Rupeet.
800, UU0
800.000
800. 000
£“&>
40. 600,000
40,600.000
40.600,000
25. 600, 000
25.600.000
25. 600.000
22.500.000
22,500,000
August.. .
September .
oW, ouu, uuu
2S5. 400, 000
285,500 000
IV, 1UU, Wl
14,300,000
G, 500, 000
800^000
October . .
November .
700,' 000
290, 500 000
2,400.000
sooiooo
De^.nUr .
275, 000, 000
l * k/!Ii nnii
am nnn
January .
1909.
422.100.000
438, 600, 000
om nm
22.500.000
22.500,000
22.500.000
February .
—i i', mu
•)oj cm rmn
fim'nnn
March . . . .
454,000 000
• jH, ow, uuu
400* 000
oil, -TUU, UUU
’ '
The chief feature of the year has been the exhaustion of the gold held.
1 A lakh of rupees Is 100,000.
REPORT DIRECTOR OF MINT.
233
Working of the Mints at Calcutta and Bombay during the Year 1908-9.
Government op India,
Finance Department,
Calcutta , December 22, 1909.
Receipts of gold.— The tenders of gold by the public at the mints were less in value
than those of the preceding 12 months by over 7J crores of rupees Owing to adverse
trade conditions there were practically no imports of sovereigns during the year.
The following statement compares the value and nature of the tenders with those
of past years:
Year.
Calcutta mint.
Bombay mint.
Total value
of gold
tendered.
Value of
sovereigns
and half
sovereigns
of current
weight.
Value of
light and
un current
sover¬
eigns and
half sov¬
ereigns.
Total.
Value of
sovereigns
and half
sovereigns
of current
weight.
Value of
light and
uncurrent
sovereigns
and half
sovereigns.
Value of
bullion.
Total.
1006- 7..
1007- 8 ...
1008- 9. .
Rupees.
49. (o8, 547
20,137,155
4,253,910
Rupees.
776,9 63
105. 105
19,710
Rupees.
50. 418.510
29.242,260
4,273,620
Rupees.
14, 520. 000
54.584,760
5.082,945
Rupees
6,840
2,123.695
19.800
Rupees
187, 422
Rupees.
14.7f3.262
56.708,455
5.102,745
Rupees.
65,131,772
85.960.715
9.376,365
ar ^ mss
to Rs. 16,431,667 and are classified as follows.
Description.
Government rupees and half rupees.
Of . . .
Of 1840 (first Issue) .
%£R23St SKte. M-sa* •••.
Worn coins .
Reduced rupees and half rupees .
Total
In thou¬
sands
of rupees.
102.76
3,176.00
8.864 20
307 10
2,728.80
SS.00
15,306.86
Coinage e/tn^.-The silver coinage was as follows:
Denomination.
Rupees .
Half rupees .
Quarter rupees .
One-eighth rupees. .
Total.
Rupees.
14,800,000
7SS.249
1,770, M3
846,114
18,205,316
Rupees.
10,330,308
Rupees.
25,130.508
788,240
1,770,053
846, 114
28.535,014
- - wine the vear 190&-9 was less than that of the previous
The outturn of rupees dunnR ‘he> entirely reprejoutod thetBeoinageot
-ear by nearly 15 croree. n A small amount of coinage (to the extent
of Rs 50,000) was underUictn ^ chitori coinB in the Phuha Pargana.
British silver currency.m PJJ ^ 6 870 741 British dollars of the nominal %alue of
„ and thirty ^ix thousand nickel
Sb SKSass!^: «"«
during the y^
234
REPORT DIRECTOR OF MINT.
gain on the nickel coinage which passed into circulation amounted to Ra. 1,111,336,
against Its. 1,771,720 in tne preceding year.
Bronze and copper coinage. — The bronze coinage of the year consisted of pice, half
pice, and pie pieces of the aggregate value of Its. 1,103,958. Of this Its. 3,500 repre¬
sented the nominal value of single pice for the Sailana Darbar, for which a special
reverse die was prepared in the mint.
The copper coinage comprised Straits Settlements cents, half cents, and quarter
cents of die value of Rs. 133,338.
During the year under review there was a net loss of K& 1,071,185 on bronze and
copper coinage, as compared with a net gain of Ra. 1,736,390 in the preceding year.
The loss was duo to the return of a comparatively larger number of coins from circu¬
lation during the year.
BOMBAY MINT.
Tenders of silver bullion from the exchange banks for coinage into British dollars
amounted to 14,382,858 tolas fine. Of this amount silver of the outturn value of
Its. 15,655,863 was brought to account during the year.
The description and weight of the silver is as detailed below:
* Description of silver tendered.
Amount
in lakhs
of tolas.1
American bar silver .
119.34
London bar silver . . . . . .
19. 20
San Francisco bar silver .
5.23
Total . . .'. . . .
143. S3
1 A tola is ISO grains.
Recoinage into Government rupees of the silver currency' of native states.
The conversion of the Chitori currency in the Phulia Pargana of the Shahpura
chiefship was taken in hand during the year. The exchange value in Government
rupees of the amount converted was Ils. 50,000.
Silver coinage. — The Government coinage for the y’ear, which consisted of rupees
onlv, amounted in value to Rs. 10,330,598. Of this amount Rs. 50,000 were on account
of tne Shahpura chiefship; the rest was wholly' on Government account.
Six million eight hundred and sixty-nine thousaud eight hundred and eighty-four
British dollars were issued to exchange banks for export during the year. Of these,
6,813,993 were shipped to Hongkong, and 55,891 to Singapore.
The Indian Gold Reserve.
[From The B inkers' Magaiine, New York, Maj, 1910.]
A remarkable recovery in the portion of the gold standard reserve kept by the
Government of British India in gold and securities has taken place during tne lost 16
months. The severe pressure to which the sterling resources of the Indian Govern¬
ment were subjected during the crop failures of 1908 led to the reduction of the amount
held in London by nearly one-half, an equivalent amount in silver rupees piling up
in the meantime on India. The figures now available show', however, that the portion
in London held in gold and securities increased from £7,916.100 on March 31, 1909, to
£ 12,544,700 on January 31, 1910. The facts are brought out bv tho London Economist
in a sharp expose of one of Mr. Moreton Frewen’s breezv suggestions, that “the failure
of an autumn’s rain dissipates in a single season the gold standard reserve fund »)
laboriously accumulated during 15 years,” etc. This insinuation, it is declared by the
Economist of February 5 last, “conveys an untruth.” The real situation is thus
summed up by the London publication:’
“During the great depression of 1908 the sterling portion was reduced (tho reduction
therein being made good by an increase in the rupee portion), but for the last year the
sterling portion has been growing rapidly again, the rupee portion being correspond-
reduced, the total remaining unaltered except for the addition due to the receipt
of dividends on securities. The figures that are of general interest in the matter are
those showing tho variations in the amount of the sterling portion during the 10 (not,
as Mr. hrewen aiys, 15) years since the establishment of the reserve. They are given,
u the following statement:
BEPORT DIRECTOR OF MINT.
235
Sterling Resources Held in the Gold Standard Reserve op ttie Government
of India.
Year.
Resources
held.
Year.
Resources
held.
Unr 1001
£1,200,000
3,454,200
3,810,300
(1,370,500
Mar. 31,1906 .
£12,165,000
1902
1907 .
12,518.560
1903
1908 .
14,317,700
1904
1909 .
7,916, 100
1905 .
8,362,600
Jan. 31,1910 .
12,544,700
“The securities held on account of the reserve are, for the purpose of this statement,
valued at cost price. The gold standard and the fixing of the value of the rupee has
saved the laboring and commercial classes of India from the most terrible losses. J ne
onlv people who ought to complain are owners of silver mines and speculators in
exchange And it is doubtful whether even the owners of silver or silver mines should
attribute more than a tiny fraction of the depreciation to the action of the Indian
Government.”
BRITISH NORTH BORNEO.
Answers to interrogatories , 1909.
the year 1909: Nil. . . lono. v;i
4. United States gold coin imported duruH, I • ■ . ri 1909: Nil.
5. Gold and silver produced from mmee of th in lho country on Decem-
6. Approximate sKx-k of gold a"d * dollars of 2s 4d . ), $22.'., 000. (No banks. )
her 31. 1909: Silver coin (Straits Settlem' ^ d Standing at the end of the year 1909:
7. Amount of Government and bank notes ouisia. . ^
Government not*. (Straits *•' &)■ ■" ’ . 175,000
Legal-teiuler silver holdings (Straits settlement aouius
8. There is no premium on gold. * * * *
* * .. “British North Borneo” Is In London, Eng-
t^4ss&£;- xss ^UMoa‘ '° c"u”1 5
ui c,rcu““-
JAPAN.
Answers to interrogatories , 1909.
1. Amount of gold and e
GOLD COINS-
Num,,cr
of pieces-
New coinage: 559.00°
20-yen . . 2, 170- 000
. . . .
*->“ .
Total .
Rocolnoge: (#Q.
Domestic oola» ^ou
Value.
Denomination.
Number
of pieces.
Value.
Yen.
11,180,000
21,700,000
SILVER coins.
New eolonge:
ao-wn .
20-sen .
10-sen .
22,014.012
8.830,000
20,291,030
Yen.
11,007,006
1,766,000
2,029,103
25.951
11,958
Total .
Reooinage:
Domestic coins (old)..
Foreign coins .
51 • 135i 042
10,681,725
651,14*3
Total recolnage .
11,333,418
37,909
Total recoin»^jj____--- - TTTJidsilver coins, as well as of recoined gold coins,
- ZTTvaluc of new P\ ^ue cf the recoined silver coins is calculated at
Note - Th*;r f]lCe value- 4 fun per 1 yen, the amount of domestic old silver
represents thei nlonuiie an recojved being respectively 57,681 kwan and 317
.ho rowMl r“'%iBn »l,fr , 4i momme.
coin, ami of J k w»n anJ
momme, and
236
REPORT DIRECTOR OF MINT.
Amount of gold and silver coins melted during the calendar year 1909:
Gold coins: Ten.
Domestic (ancient) . 25.961
Foreign . . . . . 11. <68
Total amount melted . 37.909
Silver coins: , -
Domestic (ancient) . 363
Domestic (old) . 8,083,05
Foreign . «u.ufju
Total amount melted . 8.573.475
Note. — Net weight of ancient gold coins and foreign gold coins is 8 kwan 81 mom me
7 fun 7 rin; value calculated at the rate of 5 yen per momme pure gold.
Net weight of ancient silver coins is 2 kwan 764 momme 5 fun 4 rin. Value cal¬
culated at the current rate 127.57 yen per 1 kwan.
The value of old silver coins and foreign silver coins represents their face value.
Amount of modem gold and silver coins recoined:
Yml
Gold, 20-yea pieces. . 37.90#
Silver . . =
50*en pieces. . . 4.687 00
30-stn pieces . 1 766 000
10-sen pieces . 2.CC9.M3
ToUL . UCW
Note. — The value of gold coins represents their face value. The value of 50-sen
pieces and 20-sen pieces, silver, calculated at the revised rate of 1 yen per 5 momme
4 fun, the amount of old silver coins received for melting being 34,850 kwan 680
momme 5 fun. The value of 10-sen silver pieces calculated at the revised rate of 1
yen per 6 momme, the amount of old coins received for melting being 12,174 kwan
618 momme.
2. Coinage executed for foreign Governments and in foreign countries during the
calendar year 1909:
Coinage executed for Korea:
Yen.
Gold, 20-yen pieces. . 5UO.OOO
piece* . . """"i "... 400 000
l-«n pieces. . . .WC^O
h«i piece*. . * **
ToUL . H7.806
N°«.--The value of gold, silver, and nickel coins represents their face value.
* TK? «-°f- ^or^co,nsl joined during the calendar year 1909: None
la™ ^eiS^0f gold and silver u.^d in industrial arts during the calendar
>ear 1909 is unknown.
9 458^?nUDt ** Unitcd Statca S°ld 00103 iu ported during 1909: $4,715, equal to
xJ^lSn °*ll^it^-SUte8 ^°Id 001,18 in 'b* of Japan at the close of the calendar
>ear 1909. $1,334,757, equal to 2.674.050 ven
yoaMsSS! fo025l^nUlef> 601(1 COi“ me,ted *l Lhe Japans mint during the calendar
1 mommrJfhni.U^r|0ftK mled States P°ld calculated at the rate of 5 yen per
5 amount melted being 2 kwan 4 momme 9 fun 5 nn.
calendS^i-mg'^110 °* *** "*d siUer inim mines in Japan during the
REPORT DIRECTOR OF MINT.
237
Japan has no colonies.
Note. — Definite statistics for the calendar year 1909 have not yet been taken, hence
onlv approximate estimates given by the bureau of mines.
The value of silver for the calendar year 1909 calculated at the rate of 131.58 yen
per 1 kwan, which is the average quotation in the Osaka market.
The percentage of silver produced from lead mines, silver mines, and copper mines
may be given below according to the average output of the five principal mines cover¬
ing a period of five years: Pefcent
From lead mines .
From silver mines . . . . . if 2
From copper mines . .
The percentage of silver produced from the principal mines with reference to gold
produced in this country may be given as follows: 85.2 per cent (five-year average).
The amount of gold and silver produced in Formosa during the calendar year 1908 is
given below. Definite statistics for 1909 have not yet been taken.
Sources.
Amount.
Value.
Gold produced from—
1/omme.
429,241
12,031
Yen.
2,146.205
60. 130
441 . 27^
2.306.355
37,095
Silver produced from lead mines -
of the calendar year 1909
Gold coins:
In Bank of Japan .
Held as reserve for convcrUblc nou*....
In circulation .
Total .
Gold bullion:
In Bank of Japan
Hold "
reaerve for convertible noU*..
Silver coins:
In national treasury..
In Bank of Japan... ■
In clrculaUon -
Silver bullion:
In national treasury--
In Bonk of Japan... -
Yen-
2, 130,826
73,368,727
26,621.484
736,237
. 144,474,348
. 19,128,941
. ;;;;;; . 1,119
Total . . 362.971,089
Grand tot-l. ' . in banks other than the Bank of Japan in included in
v —The amount of coins in
Amount in circulation. , notes outstanding at the cloeeof the calendar
ht a?®*5?ini of Government k f japaD, covered bv reserve consisting of
£ t^ConUble note^of «bo “b> guaranteed r^rve, 134, 9!9.926
S'n- total aww"1 '"““^ irculuJion'ia^qdal to ihe amount issued.
No« - The amount »“ currency of Japan consists of gold coins and notes
£ Premium '^^ hlncc^hero is no difference in value between currenc> and
’onvertible »nl< K affecting the coinage, currency, and banks: There
J°9d Laws .pa*Td SJg to coinage and currency during the calendar year 1909.
ivas no U^iHl|a,!uringl^ relating to banks annexed herewith.
Laws enacted <1
238
REPORT DIRECTOR OF MINT.
10. Reports published on operations of the mint and the bureau of mines: One copy
of the mint report, in English, for the fiscal year ending March 31, 1909; one copy o’f
the Statistical Report of the Department of Agriculture and Commerce, in Japanese
and English, for tne fiscal year ending March 31, 1909, inclosed herewith.
11. Import and export of gold and silver during the calendar year 1909:
GOLD.
Classification and country.
Imports.
Exports.
Gold coin and bullion:
British India and Straits Settlements. . . .
Yen.
Yen.
625
2,056,258
China .
4,098.844
6.519
6,359.207
39
17.787
44,953
Kwontung Province . .
Korea .
Hongkong . . .
4,365,125
Philippine Islands .
Asiatic Russia .
Germany . . .. . .
25,000
United States of America . .
54.065.S89
14, 156.350
1.350
Australia . . .
Other countries .
Total .
78,750,998
6,447,006
SILVER.
Sliver coin and bullion: •
China.
6,494
58,922
Kwanlung Province .
1,962
824,973
2S5
Korea. .
8,001
Hongkong... .
8.519
Asiatic Russia .
460
100
Great Britain .
United States of America .
1,120
50,266
British America .
6,236
Australia .
2.500
4.917
Total .
137,319
an(f silver imported to and exported from Formosa during the calendar year
Classification.
Number of
pieces.
Imports
Exports.
British gold coins. .
Yen.
1,709
Yen.
Domestic:
=====
One-yen silver coins. .
9.S29
113, 8£
One-yen silver coins (stamped)... .
Mexican silver coins ...
Hongkong silver coins.. .
683
561
25.310
Subsidiary sliver coins. . . . .
Total .
Bank of Japan notes. .
560
i 171
5.449
6.449
10
11,111
140.494
17.081
* Ounces.
Following are the laws relating to banks enacted during the calendar year 1909:
Law No. 1, March 1, 1909.
Balk'd ,0 ** «AaDRed for 1-yen silver coins famed by
1909 11 appl> for exchange to the Bank of Formosa by December 31,
REPORT DIRECTOR OF MINT.
239
In the case mentioned in the preceding paragraph, the Bank of Formosa shall give
in exchange gold coins or the bank notes issued now by the bank according to the
current quotation of silver. However, the current quotation of silver shall follow the
notification of the governor general of Formosa.
Supplementary clause: This law shall take effect on the day of promulgation.
Law No. 10, March 22, 1910.
The law of the Hokkaido Colonial Bank is amended as follows: >f
In articles 12, 13, 14, and 20 the words “loans of article 7, No. 1, are amended to
read: “Loans redeemable in installments.”
-tb. P-W mentioned in the
nrorodim? nanurraph the Hokkaido Colonial Bank shall add to the reserve fund the
whoS of the dmdends for the shares taken up by the Government, as provided for in
the preceding article.”
Law No. 32, April 12, 1909.
The law of the Hypothec Bank of Japan is amended as follows:
S date of opemtion ifffiaw' hall be determined by
^"fntperia. Ordinance No. 330 of 1909 this law took effect on Dec. 1.
1909-) Law No. 33, Aemi. 12, 1909.
The law relating to agricultural and industrial banks is amended as follows:
Item 4 of article 6 » amendt^te - -a- s.
ing
Item 4 of article 6 is amendedto read ^^JJticle without security, when in adjust-
■■ Loans prescribed in items Land adjustment of cultivated lands,
ing cultivated lands in accord . vatod lands has apphed for a loan, or when owners
t union for the readjustment o choir joint responsibility.’
of lands to be adjusted ^ty,(ndS*£SiraU^’’ ire amended to read “ umon of Indus;
In article 7, II. the ,W<:V!“nh„bShar^ot members of a union of induslml guilds
^^^“‘Cdlmo'lo^ration o, this law shall he determmed b3
uuguuas —
Supplementary clause, a *
“^^Tlmiterua Ordinance 330 of 1909 this law took effect on Dec. 1, .)
IaAW No. 34, April 12, 1909.
The law of the Hokkaido Colonial Bank is amended amended to read
..JSoWSttrial guilds0"^'''! ^industrial guilds which are not members of union,
of industrial guilds/^ Tfae da,0 of operation of this law shall be determined by
‘“(SF^H^mperia! Ordinance No. 330 of 1909 this law took effect on Dec. 1,
Ti^reaeonsta^
The amendment to th » fisheries, so that funds may be advanced more
ila A fiCODO of .
S'! to the Hokkaido Colonial Bank is meant io extend the scope of
TRe amend men v w
loans to fisheries.
240
report director of mint.
SIAM.
Answers to interrogatories . 1909.
J&gr =5 syars
MV.ttio. - during 1909: At Paris mint,
NoI'uSSS,<® the industnai ^ duri"* ism
Nil. go d coin imported and deposited at mint and melted during ISO*
1909: The minee of the country during the calendar )Mr
quantity, rilv« i, nrSue^? so.™al1 “ to be '
6. Approximate a^ock^ofgohi^ I!*! v^8 ®!am * .
be an unknown,
Character of stock.
1
In public treas
urles.
t
In banks.
In circuUtwa
Gold:
Coin .
Bullion. .
8llver: — .
Coin...
Bullion. . .
TicaU. '
47,i$4.43
33,212,370.00
73,709.61
TicaU.
HI
8
Tmlt.
» ioo.ooo.o®
No Information In the ministry of finances.
^Amount of Government and bank note, outstanding at
* Estimated.
the cud of th(
i year 1909:
Issued by—
^otes outstand¬
ing.
Gold holdings.
I>egal-ten<l*r
silver holding
Government
Banks of Issue .
TicaU.
16, 776 930
TicaU.
TkaU.
11, Oil, 60S. J»
0)
11, Oll.fAS3*
Total.
02, 103
10,839,033 1.
* No separate holdings.
8. Proiniuni on cold* Thi«
medium i8 n£t but silver or (Lveri^ n°^ ttPP,irabIe to Siam, as the circulating
1Zf V"der gold standard act SHE!1 cu™*cy note*. The gold coins author-
9. Laws passed during the y^r i n°l >'«. b<*» i*med.
11.' SdTm^rtafdl."" ‘;r?,i0^ of ”i”"? thc coma/to, currency, or banking: No.
calendar year 1909: °f goI(i» <h) import and export of silver, during the*
gold.
- - -
— Classification and count™
I Imports.
Exports.
Gold coin: - - - - -
Straits Settlements
nongkong... •
emtod Kingdom. .
1 TicaU.
75,266
TicaU.
. 1*05
a ^ Otill .
Gold bullion, Hongkong
2, 600
77.865
105
4,970
REPORT DIRECTOR OF MINT.
241
SILVER.
Classification and country.
Imports.
Exports.
Silver coin:
Hongkong .
TicaU.
2,093, 120
2SS.777
527.959
124,710
99.785
27,744
1,036,691
TkaU.
1,146,297
China .
Cochin China .
Cambodia. .
India . . . .
207,602
167,129
Straits Settlements . .
France
Malayan States .
3.300
1.524,328
Total.. . . .
4.196,792
STRAITS SETTLEMENTS.
Answers to interrogatories, 1909.
1. Amount of gold and silver coined during the calendar year 1909:
Denomination.
Value.
Gold.
Silver.*
Domestic recoin arc:
0400.000
1.309.873
Sulxsiduirv silver . . .
1,709.872
_
> Value in Straits dollars.
2 Coinage executed for other government*, or by other mint* for Strait. Settlement.
'f'ESSSd idgktN«rffine gold and fine diver ut*d in the indudrial art. during
TVnheTsute. gold ?in imported during 1909 ; Unknown. Amount of mmc
deposited at mint, and melted lbe counUy during 1909:
Source of product-
Kilograms
(fine).
Value.
Gold of domestic production .
Gold from placer mining, v- .
Silver of domestic production . «
400. SO
C)
377.00
£ «.
62.943 5
*"°U* ‘:“0OUDe*l‘
Individual Malujr gold washer m i an
6 Approximate .took of gold and fiver coin and b,
her 3*1, 1909 :
i addition to t!
iillion in the
he above, mt a
i country c
s won by an
in Decern-
Character of stock.
In public
treasuries.
In banks.
In circu¬
lation.
Gold coin . . .
Silver coin . .
ctivrr bullion -- -
£930
>**12.293,623
•IS, 400. 679
i
**(«>
0)
* *6, 713, 249
i No rold In circulation.
• x-.Iim* in Straits dollars-
\tod5oZs!5d hill dollars.
72663'
»-ll - 16
242 REPORT DIRECTOR OF MINT.
7. Government and bank notes outstanding at the end of the year 1909:
_ t Straits dollars.
Notes of banks of Issue .
8. Premium on gold during 1909:
HiKhMt . 2 4JL
Average . 12 4
* £?,a-lCjnSnry of \he c°untry: Strait« dollars, silver and paper, with small coins
(60 btraits dollars are legal equivalent of £7; that constitutes the gold basis of the
sterling^. °f ** C0Untry‘ Baais value is 2s- 4&d- Banks a,low for a pound
The exchange value of the dollar fluctuated during 1909 from 2s. 3«d. to 2s lAd.-
J\e;* tGUGbe<1 b,,th extremes; working out, highest premium, two-thirds of 1 per cent;
highest discount, two-thirds of 1 per cent, average, par.
9. Laws passed during the year 1909 affecting the coinage, currency, or banking:
Ordinance No. XXVII of 1908.
(An ordinance further to amend “The currency note ordinance, 1899” (Dec. 2, 1908).]
(His seal.) John Anderson, governor and commander in chief.
!t is hereby enacted by the governor of the Straits Settlement* with the advice and
consent of the legislative council thereof as follows:
ordinIncr,^I?»CLTyAeiC.ited cl,rrencX notG ordinance, 1899, amendment
2 " ’ irqq ’* A d 8hai bc oonstnied as one with “The currency note
ordinance, 1899, (hereinafter called “the principal ordinance”). Any copy of the
ordinance PnntGd after the commencement of this ordinance shall be printed
with the amendments and additions required by this ordinance. P
so o*^ * nancei 8 a mend ed by inserting in the first line of
governor may aprefim ” Slneapore the words “and al <*!>«• P>a«* «b«
3. Subsection (41 1 of section 4 of the principal ordinance is repealed.
“nrinL?.Sf« l v! X* pnncipal finance is amended by the insertion of the words
in the *???* ?rtth* c0,oldes” after the word “commissioners”
roues*” after t h a 1 (J).and °J tbo fords “or of the crown agent* for the col-
bvTh «a£V h 7ord comm'ssjonere” m the fourth line of subsection (2) and also
by‘ Ao ad.d,tlon of a. new subsection to be numbered (6) as follows:
ptJSLluTTS^ “f ^all as soon as
in^newsubsection wtaUut^^erefor"00*^ 0rdinanCe fa repealed and ,he f,,llow-
’$?), °f tho reniintod coin, received from His Majesty's mjnt number as is
foiXwith'ho nlieed1'! th.? ""*! numb?r ot 'h« old coin, talten out to be reminted shall
cSSSE* iyiSS “ 0 e0,tt P°r,,0n 0f tlu! tund f,'r lhe ordinary P^poees of the
in^'new8ub«reti<ni sltoUur^th'o^for^"'^1 °rd'“nCC ” rcPea,pd aad the f»110-
aftcfrenbcinc'i'hooM co^-' ,ofI,tho re,ninV“d received by the commissioners,
331,12,““ 5“ ,, sbe ro,!’int<!<!' -ball first be applied in the
nSlttlTf"* Td a ebanjes in connection therewith and in mak-
Stto^JTn^ SET* by ,he aa,e “ bulli»D "f “ia
injt new ordinallc* “ "PmM and the follow-
expcnL^menUou^iTfthL a balance.of reminted coins after defraying the
equivalent in face value S[®<^4lnP.8ub®?p|tl0n* the whole or such part thereof as is
shall he exchanged for an «JS»ei° d ^ RV ! landing in tbe coil1 portion of the fund
bullion of the old coins receive! °f thG old ro,n^ standing and the value as
gold standard reserve ” Ued ,A GXcbau8° shall be paid into a fund to be called the
* Par.
BKPORT DIRECTOR OP MINT.
243
/*) jo added to section 7.:
cedin'? subsections have been satisfied s^lMm^ P1™™0™ of the pre-
times^ to the com m issionenj1 may seem fit and fhfenwT*1 f°- g°Jd at *uch tim« or
bo paid into the gold standard rSero » g°,d 80 recei ved ,n exchange shali
r th?„end •'**«<>»
may, notwithstanding anythin* contained^ (hi8ordinn^?AAtCnd<i•, tho commiasionere
coins as still remain in the coin portion ^ the ncle^Zntol S?10 t0 ^ 8Uch 0,d
governor may direct e UOte ®:uaTantee fuuc^ for 8|ich time as the
no'u^pi>arantce<fund^and^e°loMe(if ai^)tbe'tL^I!l.*',0|.n f> ^nhwith bo paid to the
the pVoode of their'
the gold-standard reserve so l«,ng as funds are av£ilab?eor othnrSr^Tt^0 from
times as the governor may' direct ” "ise at such time or
foliSw?^ « -Pealed and the
crown agents for the colonies at a rate not loss than the equivalent in to th?
not exceeding a rate which will afford a sufficient manrin above tho^miivoT8 ?"d
floveroigns to cover all charges (including interest; whmh would bJ incurred iS r^
mitUM to Singapore from London such equivalent in sovereign* ” d
11. Subsection (2) of section 7b of the principal ordinance is repealed and the
f< llowing new subsections substituted therefor: 1 eaica jna tile
“(2) The sum so received in sovereigns may be kept in London in the custody of
aKen,fl- , The equivalent in sovereigns of the Straits Settlement* ^l(W
fiO-cent pieces and currency notes lasued in the colony shall form part of the not?-
guarantee fund and may be used by the commissioners for payments under the next
succeeding section. The sum (if any) received in excess at the equi^lent in ^
oreigna shall be paid into the gold-standard reserve. ^ In ®°v
i “/3l !u thi® 9efcLion ^.expression ‘equivalent in sovereigns’ means the equiva¬
lent at the rate of 7 sovereigns for 60 Straits Settlements dollars ” cquiva
12. Section 7c of the principal ordinance is repealed and the following new section
substituted therefor: K * HCCUOn
“7c. (1) It shall be lawful for the commissioners to receive Straits Settlements
dollars, 50-cont pieces or currency notes in exchange for sovereigns payable in London
by the crown agents for the colonies at a rate which will provide a sufficient manri!
above the equivalent in dollars to cover all charges (including interest) which would
be incurred rn remitting to London from Singapore the sovereigns so payable
“(2) The Straits Settlements dollars, 50-cent pieces, or currency notes so received
shall be kept in the custody of the commissioners. Such portion thereof as repre¬
sents the equivalent in dollars of the sovereigns payable by the crown agents for tho
colonies shall be held by the commissioners for the ordinary purposes of the currencv-
note issue. The value in sterling of the sum in excess of suen equivalent shill h«
credited to tho gold-standard reserve.
“(3) In this section the expression ‘equivalent in dollars’ means the equivalent
at tho rate of 60 Straits Settlements dollars for 7 sovereigns ”
13. The following new section, to be numbered 7d, is added to the principal ordi¬
nance:
“(7d) (1) It shall be lawful for the commissioners at any time when the amount
of the silver coins forming part of the coin nortion of the fund is leas than one-sixth
of the note issue to uso any part of the gold forming part of the coin portion of the
fund for the purchase of silver to be minted into current coin. The whole of the
profit of such minting shall be paid into the gold-standard reserve
“(2) The commissioners may at any time sell any silver coins forming part of the
coin portion of tho fund for the purchase of gold. K P “e
“(3) The proceeds of the sale of the silver coins shall be paid to the coin portion
of the fund and the difference between the face value amt the sale value of such
coins in the case of a loss shall be made good to tho coin portion of the fund from the
gold-standard reserve, und in the case of a profit shall bo paid into the gold standard
14. Section 9 of the principal ordinance is amended by oinittin" the words ‘Vpnorni
,1U" of <*> - rx
244
BEPOBT DIBECTOB OF MINT.
15 Section 10 of the principal ordinance i* amended by inserting between Uie
word "fund” in the Kcond liiJToI Bulwertion (4; (4) the following: dMUnguiAu*
gold from diver and showing separately the amount of coin •“■d J;v Ihe ' <*“5?
Kr the colonics or in transit from or to the colony or in the custod} olUiemiDt
durin" coinage " and by adding at the end of the same subsection the words (</; the
bullion va?ue ot the old dollars held as part of the note-guarantee fund under sub-
"^Section 11 of the principal ordinance is repealed and the following new section
substituted therefor minting subsidiary coin after deducting therefrom the
costi of minting and all char^. in connection therewith shall be paid to the gold-stand¬
ard reserve and any lo* incurred in the conversion ot the existing subsidiary coin
into new subsidiary coin or by the sale of such coins as bullion shall be made good
^^2^TEegold-atandard reserve shall be held in the ciurtodv of the commissioners
or by the crown agents for the colonies, and shall be liable for all expenses of and
incidental to the execution of this ordinance so far as they are not defrayed out of the
income from the investment portion of the note-guarantee fund. • ,
, rt -hall he lawful for the commueioners to invest the whole or any portion of
the Z$Z£SZ£l in such gold securities as may from time to timebeapproved
by a secretary of state. The interest accruing from such investments shall be paid
t0'%’s!lb^trd1^DcU.n of the governor, it rfuJl be lawful for the eomtnio-
moneti, whenever it may be deemed necessary, to make uae of any poruon of the
eold-standard reserve in the payment of currency notes. . .
80,4 (5) Whenever the governor satisfies a secretary of state that the funds the
gold-standard reserve are sufficient, after meeting all liabilities against it, to co\er
the difference between the bullion value and the face value of all “J,ver ”>,l“ Jjf1*}
by the commissioners as part of the note-guarantee fund, he may order the a°n^
payment of the net balance to the go Id-standard reserve made under the
of subsection (2) of section 9 preceding, to be discontinued and the said net balance
to be paid to the general revenue of the colony. ... in
“(fijlf the gold-standard rescue shall at any time be unable, either wholly or in
oart to meet the demands upon it, then such demands shall be made good from the
general revenue of the colony and the amount shall be recovered from the gola-
standard reserve. ” . . . . .
17. The following new section, to be numbered 15, is inserted after section 14 m
the principal ordinance and the present sections 15, 16, and 17 of the principal ordi¬
nance are renumbered 16, 17, and 18: _
“15. No person shall draw, accept, make, or issue any bills of exchange, promis¬
sory note, or engagement for the payment of money payable to bearer on demand,
or borrow, owe, or take up any sum or sums of money on the bills or notes payame
only to bearer on demand of any such person. .
‘^Provided that checks or drafts payable to bearer on demand may be drawn on
bankers or agents by their customers or constituents in respect of moneys in the
hands of these bankers or agents held by them at the disposal of the persons drawing
such checks or drafts. . . _ , . _ „ . . .
“Any person contravening the provisions oi this section shall, on conviction by
a police court, be punishable with a fine equal to the amouDt ot the bill, note, or
engagement in respect whereof the offense is committed.
“ Every prosecution under this section shall be instituted by the currency commis¬
sioners or by an agent duly authorized by them in writing.
“Notes issued by banka duly authorized by law so to do shall be exempt from the
operation of this section.” ....
18. This ordinance shall not come into operation unless and until the governor
notifies by proclamation that it is Ilia Majesty’s pleasure not to disallow the same,
and thereafter shall come into operation upon such day as the governor shall notily
by the same or some other proclamation.
Passed this 27th day of November, 1908.
A. H. Lemon, Clerk of Council *.
10. No reports published on operations of mint, or department of mines
11. (a) Import and export of gold, (6) import and export of silver during the calen
dar year 1909.
REPORT DIRECTOR OF MINT.
245
GOLD.
Classification and country.
Imports,
Exports.
Gold coin:
United Kingdom . .
J 128, 075
1 11,714
074,347
1,381
110,750
British India .
Hongkong .
2,515,062
44
428,671
14,458
Malav Peninsula. . .
Australia.... . .
Turkey . .
French Indo-Chlna.. .
8,585
Japan. .
084
Netherlands Indies . .
245,500
2,128
41,656
Portuguese Indies. .
81am... . .
Turkey in Asia . . ...
24,050
2,050
United States .
Total .
3,016,184
1,386,120
Gold bullion:
United Kingdom . .
640.180
7,050
302,041
V*. V«I
41.100
1,800
3,251
00,045
111,271
Sarawak .
British India .
Hongkong. . .
3,704,282
454,680
Malay Peninsula .
Japan . .
Kelanton
101,184
Netherlands Indies .... .
Total . . ■
4,350,146
J ->V .(>77
SILVER.
Silver coin:
United Kingdom .
Oden .
Borneo _ .......
British Indio .
Hongkong . .
Mai (iv Peninsula..
Arabia .
China .
Egypt .
French Indo-Ohina. .
Malay Peninsula (T. and K.)..
Netherlands Indies .
Philippine Islands .
Siam .* * .
Total .
Silver bullion:
United Kingdom .
British India. .
Total .
81,310,061
84.000,000
12,104
80,452
314,242
587,614
1,681.488
1.181,183
6,140
324.508
1,000,806
57,425
0,430
2,087
1,000
‘372,800
470,400
610,425
1,491,011
2,512
200,855
85.808
4,640,412
10,(04,096
1.020
700
1,720
i Straits currency.
19 DeerriDtion of the coins of the country: “Legal tender (unlimited) in Straits
a^Homentnand Federated Malay States consist* of (1) sovereigns; (2) StnutaGovern-
♦ of 1 dollar and upward; (3) coined dollars, silver (token) 2s. 4d. par.
ment doics ^ ^
f Straits Government is prepared normally to buy telegraphic transfers at 2s.
28 1875 pence), or to sell same at 2s. 3ffd. (i. e., 27 8125 pence), thus
*tV1. a the sterling value of the dollar within boundaries which, in a country
keeping u* “ ^ on a <r0ld basis (and not as here merely on a gold standard)
wh<M h„ SIS feV-io pomes’ (i. e . at 2s. SAd-> it would li«nbly ,,av to import
would be ^ Australia or London, and at 2s. 3ffd. it might be good finance to
sovereign* from jipre to London By differentiating between gold basis and gold
Bhip eove ^erejy point out tliat the Government is not under any legal obligation
standard a notc8 an(i merely adopts the method of selling on London as an alterna¬
tive device to maintain the efficiency of the gold standard."
246 BEPOfeT DIRECTOR OF MINT.
Output op Gold and Silver in the Federated Malay Stater during 1909.
Items.
Weight.
Value. 1
frv\m thn Vf ftlav fit in 1900 . .
Troy or
14.904.6
1,278.8
£57.987.16
4,955.70
UOIQ PXpcrinl I rum Ulu r oui.TaaM muu> 1 11 ** v .
Gold reported to have been bought by gold buyers In Perak .
16,243. 4
C2.943.30
» Value at £3 17a. Gd. per ounce.
Silver. Twelve and fourteen-hundredths ounces of silver, worth about 25s., were
exported from Negri Seinbilan.
American Embassy, London, April £5, 1910.
AFRICA.
ABYSSINIA.
Answer* to interrogatories, 1909.
1 and 2. Amount of gold and Rilvcr coined during the calendar year 1909: None.
No coinage was executed at Adis Ababa for foreign Governments, and no coinage was
executed at foreign mints for Abyssinia during 1909.
3. Estimated weight of fine gold and fine silver used in the industrial arts during
1909: Very little. No statistics.
4. United States gold coin imported or deposited at mint and melted during 1909:
None.
5. Amount of gold and silver produced from mines of the country during 1909:
A small quantity of alluvial gold is washed by the natives in the rivers of western
Abyssinia, but as it does not pass through the customs (is sold direct to merchants),
no 'statistics are obtainable.
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909: Gold coin, approximately 1,000,000 Maria Theresa thalers; in public
treasuries.
Marla Theresa
Silver coin (approximately): thalers.
In public treasuries . 6,000,000
In hanks . 400,000
Total . . . . 6,400.000
7. Government and bank notes outstanding at the end of the year 1909: None.
8. Premium on gold during 1909:
Items.
Selling
price.
Buying
price.
Highest premium . . .
Francs.
2.51
2.22
2.365
Francs.
2.47
2.17
2.32
Lowest premium . . .
Average premium . .
Actual currency of the country: Maria Theresa thalers and Menelik dollars
9. Laws passed during 1909 affecting the coinage, currency, or bunking: None.
10. There is no report published on the operations of the mint at Adis Ababa, which
was not in operation during the year 1909.
11. (a) Import and export of gold during the calendar year 1909’ None. There is
a varying quantity of alluvial gold washed by the natives; the same is sold to mer¬
chants who use it for payment of foreign bills; it does not pass through the customs
and no statistics are obtainable.
REPORT DIRECTOR OF MINT.
247
11. (6) Import and export of silver during the calendar year 1909: To Austria,
approximate import by the Bank of Abyssinia and bv private merchants during the
year 1909, 2,500,000 Maria Theresa thalers ( =$1,119,4(50 in United States currency ).
12 Description of the coins of the country Maria Theresa thaler equal to 54 to 80
kilograms salt, or 4.21 German marks (=2.32 francs or $0.44776 in United States
currency).
EGYPT.
Anxuers to interrogatories, 1909.
1. Amount of gold and silver coined during the calendar year 1909- None. Nickel
and bronze were coined, as hereunder:
Denomination.
Number
ol pieces.
Value.
New coinage:
Nickel—
2-ochr-cl-Ruerche -
750,000 1
2,000,000 |
Em***
pouiU*
[■ 3.500
Brooie—
1,400.000 1
| 1,000
fochr-ePpuerrhe
1,300,000 ;
2 The coins enumerated under No. 1 were executed for the Egyptian Government,
^Fine Hd r u*d in <he industrial art. duriug the calends y«r 1909:
U5kX>™n.I»ort« of pold coin directly from the United Sute. United State, gold coin
TgSd and'eiiver produ«d fmmmint, of the country during 1909:
Description.
Kilograms
(fine).
Domestic production
“ d from
Gold from H^munu mine-
Stiver from Uarramia mln«.
go.aoo
19.008
£ E. s. i.
12, 904 It 10
« 0 9
6 Approximate stock of gold and silver coin and bullion in the country on December
31, 1909:
Character of stock.
In public
treasuries.
In honlo.
In drculatlon.
1
—
^ptUn pounds^
202,823
024,779
•"“ISSSSl
2,587,500
Gold coin . .
8 Ivor coin .
TW. mild bullion; stock oi silver nuiiion unauuwii .
There is no Joia utatanding at the end of the year 1909: Notes outstanding issued by
:ma?Bank of Egypt, 2,000,000 Egyptian pounds; gold holdings, 1,338,154 Egyp¬
tian pound*.* premium as compared with the actual currency of the country .
8- V° d M«ied during 1909 affecting the coinage, currency, or banking: None.
10 LRcp<-rt published on operations of mint: No report issued since 1906.
i Balance covered by securities (£ E. 1,361,815).
248
REPORT DIRECTOR OF MINT.
11. (a) Import and export of gold, (6) import and export of silver during the calen¬
dar year 1909:
GOLD.
American Agency and Consulate General,
Cairo, March 27, 1909.
Sir: Referring to your letter of February 5, 1909, which contained the financial
interrogatories in which you are especially interested, 1 beg leave to sav in replv that,
upon receipt of it, I went immediately to the officer of the financial adviser, who has
just sent me a note, a copy of which I inclose to vou. 1 tried to make personally some
inquiries in the goldsmiths' bazaar, but was tofd that no definite estimates could be
given. As the financial adviser’s office is very keen on this point, I think there is no
better source of information.
Your obedient servant, Lewis Morris Iddings,
_ Agent and Consul General.
Director op the Mint,
Washington, D. C.
Copy.
Cairo, March 2S, 1909.
Dear Mr. Iddings: With reference to tho inclosed letter from the Director of the
\\ ashington Mint, which you left with me some davs ago, I have made inquiries on
the three points raised by that letter.
. (a) A few yeare ago, tho head of the bureau de poinfonnement made some inquiries
in the goldsmiths bazaar with the object of arriving at an estimate of tho amount of
gold melted down into gold ornaments.
REPORT DIRECTOR OF MINT.
249
The estimate submitted for the year in question, 1905, was tho enormous sum of
£2,000,000, which, however surprising, was not inconsistent with the amount of gold
coin registered through the customs as having been retained in the country during
the period 1902-1905, viz, eleven millions sterling
e are, however, quite unable to confirm the above estimate, which has not been
made the subject of a systematic inquiry, and which, at best, does not amount to
more than a rough guess *
(6) The output of gold from Egyptian mines was, in 1907, £20,714; in 1908, £7,808.
As to the Sudan, 1 believe the output is confined to the Urn Nabadi mine, which
made no returns in 1907 and only a few hundred sterling in 1908. An inquiry from
the Sudan government agent might elicit more precise information, if required.
(c) The Question of the stock of gold coin in Egypt is bound up with that of the
amount melted down in ornaments, since hoards may be kept in the form either of
coin or of ornaments. In the absence of data for estimating the amount of the letter,
any figures given of the stock of gold must include gold in all its forms.
The stock of gold usuallv stated as the stock of “gold coin ” has formed the subject
of several very diverse estimates. The following list, I believe, comprises them all .
Ottomar Haupt, 1881 (francs) . .
M. L. Muhlcman, 1800 (dollars) .
De Beaupuls, 1901 (pounds) . « . .
United States Mint. 1905 (dollars) . - . - .
P. Arminjon and B. Michel, 1908 (Egyptian pounds) . 33,000,000 to 41,000,000
It is a justifiable assumption that the only one of the foregoing estimates which is
based on any scientific study is the last one. This has been worked out by the authors
by a mathematical comparison of the curves of fluctuations in the gold and silver cir¬
culation during the last 20 years. The conclusion, however, is open to some d is¬
olation Meanwhile their estimate remains, faute de mieux, as the only one which
has any pretension to accuracy. The authors are careful to state that it includes
coin lost, hoarded, and melted down. ..... , .... , . . .
“There is of course, always a certain stock of com in the hands of the banks, includ¬
ing as the treasury’ correctly states, the 50 per cent of the coin held by the National
Bank of Eevpt against the note issue. This stock van<* greatly according to the tune
of vear and the activity of business, but it can never exceed a few millions, and, even
were it accurately known, would furnish no guide to the amount of gold in the country .
Arminjon & Michel’s method and estimates are explained in full in their
work ‘I.ft Circulation, le Credit et leurs Instruments en Egypte,’ which can be
°kl*hope ^th^above^fomuitfou wili meet the requirements of the Director of the
Mint.
Yours, sincerely,
(Signed)
II. P IIarvet.
[From Orest Britain, House of Commons, Sessional Papers, 1905. 1904 Report on Egypt and Sudan.]
The Movement op the Currency.
[Note by Mr. Roussln. (P. 103.)]
. . .i. svTvnninv of the year 1905 there was a superabundance of silver coin in circu¬
it the to a sudden fall in the price of cotton in December, 1904,
laUon, aue F, ^^p^ponding restriction in the volume of trade and the demand
which Pro<|“'- IJoth KOjJ and silver coin had been taken into circulation in large
for cUfT^n< 'sririnir the preceding months; the issue of silver, indeed, surpiywed all
quantities® tfae withdrawn from the Government treasuries during Sep-
previous re<: . and Xovembcr amounting to no Iosb than £ E. 345,000.
tember, enw ’ that these large withdrawals were in a measure due to the
]t w nig 0( pertain sections of the public that the Government reserves
annexation c BUfccient to satisfy tho demand for winter circulation, as in fact had
would not in jjjo lwo preceding seasoa«. Tho ample provisions, however, which
been tne caw. ^ ba(1 made rendered such a contingency practically impossible;
the rn' orm worth of new silver coin was struck during 1904, and the reserve in the
£ E* ^Tver fell below £ E. 160,000. , .
demand for silver was artificially fostered in this way, tho reaction following
After in cottoQ would naturally be the more severely felt. It was, as a matter
in the ,aV n in a marked manner throughout the country. Stocks of silver coin
of f»ct* j in the hands of bankers and merchants, who found it impossible to
accuinma ^em. The superfluity of gold coin found its natural outlet through the
^^etT*** of reexport, but that of silver remained as a clog on the international trade,
250
BEPORT DIRECTOR OF MINT.
representing a lock-up oi capital attended with low to tboeo who were unfortunate
enough to find themselves its custodians. . . , ,
To remedy this situation, and to relieve the community of an unequal burden,
there was evidently Borne measure— and only one— indicated, to vat, the assumption
of the charge by the Government. Arrangements were accordingly made in January
to receivesilver coin against gold at the Government treasuries and a the National
Bank of Egypt The circulation at once reduced itself and silver continued to flow
into the treasury until the month of August, when the Quantity in the hands of the
public reached its minimum for the year. At this date the total amount returned to
the Government out of the £ E. 345,000 in new silver coin issued nine months previously
was £ E. 215,000, leaving £ E. 130.000 as a permanent addition to the circulation.
The following table shows at a glance the movement, of the circulation from the
opening to the close of the 1904-5 cotton season:
Coins.
In circulation.
Ex pan-
slon.
Contrac¬
tion
Differ¬
ence
(1.0., net
expan¬
sion).
August,
1904.
November,
1904.
August,
1905.
Silver .
£E.
1,801.000
318.800
10.900
£E.
2,145.700
344,800
11,200
£ E.
1,931.400
330,000
11.700
£ E.
344,700
jw.ooo
800
£E.
214,300
15.000
£ E.
130,400
11,000
800
Nkrkel .
Bronze. . . . - - -
Total. .
2,130,700
2,501,700
2,273,100
371,500
229,300
142,200
It may here be remarked that tin* contraction in the circulation of nickel coin is
an unusual feature. Though introduced with some misgivings with the reform of the
currency in 1886, the nickel coinage met with so great a success that the demand lor
it has, until this year, progressed almost independently of the periodical contractions
exhibited in the circulation of silver. .
The movement of the gold circulation during the 1904-5 seasons was similar, up to a
certain point, to that of silver. Sovereigns were imported to the amount of
_ _ uimprllnniK dm him already been shown by the laii
on being handed over to the Government in virtue of the new arrangement, were
banked? and this contributed to swell the market resources. About 2,000,000 were
shipped abroad, chiefly to England and India, in December and January’. Part ot
this shipment, however, proved to have been premature, for fresh gold was imported
in March and April, to be reexported in June and Jul>\ The total “JJ,
season aggregated^ E. 6,600,000, and the exports £ L. 3,600,000. leaving £ E. 3,000,000
as a permanent addition to the stock of gold in the country. . , ,
The expansion and contraction of the gold and silver circulation during the last
four seasons are shown in the following table, collated with the cotton statistics for
the same period .
Circulation.
1901-2
1902-3
1903-4 1904-5
GOLD.
Imported (L c. , expansion) . Egyptian pounds.
Exported (I. e., temporary expansion) retained . .do
Balance (L e., permanent expansion) . do
SILVER.
Withdrawn (rom treasury (L e., total expansion),
Egyptian potmds .
Returned to treasury (1. e., temporary expansion),
» Egyptian pounds .
2,900,000
1,800.000
4. 800.000
1.800.000
7.500,000
2,500.000
6,000.000
3,000.000
1,100,000
3.000,000
5,000.000
3.000.000
158,000
151.000
219,000
48,000
259,000
4S.000
345,000
215,000
Balanced.)!. . permanent expansion) . E gyptlan pounds .
COTTON.
Quantity Cantors
Value . Egyptian pounds .
7,000
171.000
J 211.000 130,000
ft. 538. 000 5.880,000
13,800,000 17.000.000
! G, 144.000 637C‘'®0
20,400.000 1 17.800.000
REPORT DIRECTOR OF MINT.
251
In the Hummer of 1905 it became necessary to make provision for the retirement
in silver of the present season. The stock in the Government's hands at the end of
July, including £ E. 100,000 in new coin received in March, amounted to £ E. 452,000.
This sum would amply have sufficed the winter demand in any previous year, but in
view of the very large crop anticipated and the possibility of high prices, it was thought
advisable to supplement the reserve by a further £ E. 100,000, which was accordingly
ordered from the Birmingham mint and arrived in November.
Tho event has shown that this extra provision was unnecessary, for the silver with¬
drawn from circulation up to the end of this year has not exceeded £ E. 214,000, as
against £ E. 345,000 in 1904. The gold import which at the same period in 1904
amounted to 5,500,000, has reached only 3,500,000 in 1905.
The relative diminution in the demand for winter circulation has especial interest
when contrasted with tho fact that tho cotton crop has come to market in rather larger
quantities than last season and has commanded nigher prices. Until the season has
run its course it would be premature to assign to this phenomenon, with any certainty,
its proper cause. Tho increasing stock of floating circulation, the restrictions in
banting accommodation, the liberation of Government revenues formerly paid into
tho Oaiasc do la I)ctte, the expansion in the note circulation of the National Bank of
Egypt; all these have probably been more or less important factors in the result. It
may be that the movement of tho silver circulation, though similar in appearance to
that of the gold, is due, at least in part, to different causes, such as the absence of the
artificial demand alreadv described.
Trustworthy data bearing on the state of the circulation do not extend back over
many years. It is hoped that a careful study of the details that are year by year
accumulating may eventually throw light on tho question of both general and |>ar-
ticular interest in connection with the subject.
(Signed) L. G. Rousbin.
January 4, 1905.
[Memorandum by Mr. RoOHtn on the movement of the currency (p. 104).]
* * * * * * . *
The EevDtian monetary' system is on a gold monoroetallir basis, the unit being the
Eratbanmnd which contains 7 4375 grains of fine gold £4.943070026117); it is
divided into 100 piasters The British sovereign ($4 80G55899R23), the French 20-
fninc piece ($3 859052538 ) , and Turkish pound ($4 390447027). are also legal currency
in the country at the following fixed prices:
Sovereign .
20-fmnc piece ...
Turkish pound ....
Piaster*.
97 50
77.15
.. 87.75
The above-mentioned legal rates do not coincide with tho mint par value of the
several coins, which are as follows:
Sovereign
20- franc piece
Turkish pound .
Plasters.
. « 45
78.07
88. 94
*n .i kinds are therefore undervalued at the legal tariff rate, but while the
jswiLntiltion against the sovereign Is less than 1 per cent, those against the 20- franc
d-ff T urkish pound amount to 1^ per cent and 1* per cent, respectively,
piece and v tian mint8 opcn to free comage of the Egyptian pound, the ordinary
\N ere uiy ^. ■ lftW wouid prevent tho introduction of the undervalued foreign
operation to any considerable extent. The gold coin or bullion imported
coins into c ^ mint and coined into Egyptian money.
would be laitcu have not howevor, been minted for many years, and very
remain in circulation. Their place is supplied by the legal tender for-
fow of tn* . jjut ^ between these coins, the legal tariff rates shown above dia-
oign gold c* ■ biy ^ fftVor Gf tho sovereign, the 20-franc piece und tho Turkish
crimmate ci undervalued with respect to it It follows, therefore, by Graham s
pound noin , tjf10 former must drive the latter out of circulation; such is m fact the
law again, ^ £-ypt consisting almost exclusively of British sovereigns
t nlv when the exchange value of the pound sterling in francs rises sufficiently
lt isoiuj in| ^ compensate for the difference in tho legal tariffs that it
far abo^V"iblo to import 20-franc pieces into Egypt at the same profit a a sovereigns,
becomes » .f (lj0 editions of the Paris market permit of tho obtaining of gold for
and only ‘ a prcmium or other extra charges The mint par of the pound sterling
0XU°r is 26.2214 francs, but tho legal tariff in Egypt givos it a conventional value
in iiWag® w
252
REPORT DIRECTOR OF MINT.
in francs of 25.2754. It is at the latter rate, therefore, that the sterling exchange
must rise in Paris to permit of the profitable export of French gold from that ('enter
It is, however, matter of common knowledge that the rate of exchange in Paris on
London has fallen very short of this level during recent years.
The preponderance of the British coin is further strengthened by the comparative
ease with which sovereigns can be obtained from the London money marked But,
notwithstanding all tho circumstances that militate in its favor and against the 2<h
franc pieces, tho customs returns bear testimony to the efforts that ha\ e been made
to introduce the latter coin into circulation, at the same time that they show with
how little success those efforts have been rewarded. Thus the gold coin declared on
importation and exportation at the customs during the last 18 years appear as follows-
Items.
Sovereigns.
ao-fanr
piece*.
°" ’■out.
Imports .
£ E.
CO. COO, 000
29,000.000
£ E.
7.000.000
6.300,000
EE. EE.
3.100.000 71.300.000
2,600.000 38.500.000
Expons .
Net Imports . .
31.000.000
1.300.000
600.000 32,600.000
These figures indicate the small proportion of 20-franc pieces retained in the country
out of the total imported, while, in the case of the sovereigns, more than one-half of
the gross import has remained as a permanent addition to the stock of cold in the
country.
Tho undervaluation of the 20-franc piece is no recent innovation, dating back, as it
does, to the time of Mehemet Alt It does not appear to have auv practical utilitv.
On the contrary, to confer legal tender on the 20-franc piece at its mint par equivalent
would probably holp to give stability to the Egyptian monetary system
The subsidiary currency consists of silver, nickel, and bronze coins, which are
coined in limited quantities by tho Government according to requirements Their
token value is considerably above their metallic value, and they are legal teuder
only m small amounts. They represent decimal subdivisions of the Egyptian pound.
*. . * * * * * ' *
While it would be unsafe to put forward any estimate of the future demand for gold
for this country, a conjecture may be hazarded that, given another cotton crop of
equal value, the gold for extra currency will be Its* acute, and more easily satisfied,
than on this occasion. The stocks of precious metals held in Egypt and yearly aug¬
menting, the use of credit instruments is making gradual, though slow, progre»^, and
it is reasonable to hope that both the local and foreign markets may be better prepared
lor the omerceney . J
Of hardly less interest than the phenomena exhibited by the expansion of the cur¬
rency are those connected with the subsequent contmcuon A Vertain portion of
the extra currency required during the cotton season remains in circulation or it is
hoarded; the remainder is returned, the surplus silver being paid into the Govern¬
ment treasury, while the surplus gold is exported The quadtiti« retained in cir¬
culation or hoarded out of the sums taken during the recent successful cotton seasons
have been very large The following are the figures of Uie gold coin that has been
added to the permanent stock of tho country during the last five years.
Egyptian pounds.
. 3,000,1X1)
. 6,000.000
. . 3.000.000
. 1.640.000
1908-3 ....
1003—1 . . . .
1WM-6.. ,
19Q5-0 . .
These sums are far larger than would bo required for circulating purposes by the
normal rate of increase of the population The excess is t„ be account for. liartlv
w^th'thn r IZSSSZS U! °oruuim'lal ■ctiWty 1>V profitable cotton seasons, coupled
with the comparatively slow progress of the credit system, uud partly bv the produce-
JSVl*® n»>>vo [for hoard, nR hi. g»itu. This prosperity i* romrm.n. o'.t onlvTmooK
ha vorwHin 1 1 v Ka am°n8 'ho well-to-do. Some remarkable instances
S 't adduced to show that the native, even vs hen possweed of hoarded
wealth, will borrow money at interest in order to conceal the fact Inquiries made
5*toi? ^,dBln,th8 ln 0““° o|k*ted 'ho information that very large
quantities of gold corns are annually melted down and converted into omamebt*
REPORT DIRECTOR OF MINT.
253
If the gold currency consisted of Egyptian coins only, fresh imports would be needed
every autumn as at present, but the coin or bullion imported would need to be coined
into Egyptian money before it could be used.
*******
(Census of Egypt, 1907, population, 11,287,359.)
GOLD COAST COLONY.
Total quantity and value of gold and gold dust exported from the Gold Coast Colony
by different mining companies during the year 1909. 254,303.55 ounces, valued a't
£982,591 18b. 9d.
Total quantity and value of concentrates exported from the Gold Coast Colony by
different mining companies during the year 1909, 33,409.14 ounces, valued at £25,414
0 s. lid.
T. J. Wood,
Comptroller of Customs.
Victoriaborg-Accra, January 27, 1910.
CAPE OF GOOD HOPE.
Answers to interrogatories , 1909.
1 and 2. Amount of gold and silver coined, coinage executed for other Governments,
or by other mints for Cape Colony during the calendar year 1909: None. No mint.
3. Estimated weight of fine gold and fine silver used in the industrial arts during
1909: Nil.
4 United States gold coin imported and deposited at mint and melted during 1909:
Nil.
5. Gold and silver produced from mines of the country during 1909:
Statement Showing Gold Produced from Mines and Diggings in Cape
Colony during the Year 1909.
Locality.
Weight In
kilograms.
Value.
Di^^Q of Knvsna. Millwood . .
2. 208219
2.736221
£ s. <L
< 274 0 111
*282 14 10
\V odehouse Kraal . . .
4 034440
556 15 91
> Taking £3 15s. as value per ounce. * Actual value.
The Millwood gold in the above return is from alluvial deposit; the Wodehouse
Kraal gold is from reef formation
No silver is recorded as having been produced.
6 Approximate stock of gold and silver coin and bullion in the countrv ou Decem¬
ber 31, 1909:
Statement of Joint Stock Banks on December 31, 1909.
c°,n,D!^1r"er8-
minion in h*n^1 or in 101113,1 .
KeovcmiuentsocurUi* .
nlKr government securities .
g“t5 U.han'l of other honks . .
£*2X£nder notes »u circulation,
notes in circulation .
6,381.868 4
39.660 0
279.002 7
1,708,626 18
2,704.341 17
260.073 17
2, 645, 721 19
1,078, 163 0
jjoTK —The cash in hand of public officers on December 31, 1909, was £28,000.
254
REPORT DIRECTOR OF MINT.
7 and 8. Government and bank notes outstanding at the end of the year 1909; and
premium on gold during 1909: No reply.
9. No new lawB were passed during the year 1909 affecting the coinage, currency,
or banking.
10. Annual Report of the Inspectors of Mines and Claims for 1908 is forwarded
herewith.
11. (a) Import and export of gold, (6) import and export of silver during the calendar
year 1909:
GOLD.
Classification and country.
Imports. Exports.
Gold coin:
United Kingdom . .
Australia . . .
Other States in South Africa Customs Union.
Mauritius . —
Germany . — .
Total.
Gold bullion, United Kingdom . .
Gold ore (raw gold in transit), the product of:
Transvaal .
Southern Rhodesia . .
Bechuannland Port . . .
Swaziland .
Congo Free State. . .
Portuguese East Africa .
Northeastern Rhodesia .
Total.
£95,000
100,000
150,918
29,559,295
2,508.3*1
55,019
36.055
19,725
14,180 .
4,667
32, 197,922
870,975
1,000
811 ver coin:
United Kingdom . .
K vassaland 1 ’rot ec to rate
£5,800 £515
10,000 I .
Belgium . . .
1.235 .
Other States in South Africa Customs Union .
Germany . .
15,417 52.399
. 386
Total . .
32.452 53,300
64 .
Silver bullion, United Kingdom
Gold ore, United Kingdom .
~ 253
Gold ore (raw gold In transit) from Transvaal, etc . . .
. 32,197.922
Total . . ... . . .
. 32,198,175
12. The coins of the country are the same as those of Great Britain.
KONGO.
Bom a.
Answers to interrogatories, 1909.
1. Amount of gold and silver coined during the calendar year 1909: Gold: New
coinage, none; recoinage, Latin. English, and German gold used Silver: New
coinage, none. The withdrawal of Kongo coins has begun and they are being re¬
placed by the divisional pieces of the l^itin Union.
2 (a) and ( b ). Coinage executed for other governments and coinage executed at
foreign mints for the Kongo during 1909: None.
v 3. Amount of fine gold and fine silver used in the industrial arts during the calendar
year 1909: Gold, foreign coin, 10 kilograms (English); silver, without basis
4 Import of United States gold coin and United States gold coin melted at mint
during 1909: None
6. Gold and silver produced from mines of the country during 1909. (No reply.)
REPORT DIRECTOR OF MINT.
255
Prone*.
WO
1,239
. 220,000
(J. Approximate steiok of gold and silver e-oin and bullion in tho country on December
31, 1900; In public treasuries, gold coin, 352,323.66 franca; silver coin, 1,473,200
7 Amount of Government notes outstanding at the end of tho year 1009:
Government nolw:
100-franc noUvi ... . . . . ; .
10-lnuic not** . .
Oold holdings
8. There is no premium on gr»ld
9. Laws passe-el during 1909 affecting the coinage, currency, or banking:
(TronsUtion.]
Copper Coin for the Belgian Konoo.
I From L’ Economist* Europfrm, Psrls, April 2, 1909.1
Tim Official Bulletin of the Belgian Kongo contains a decree roUtiye to the J*tab-
lishmeiit of copper coin in the Belgian Kongo. That. decree declares that the special
c onner coins for tho colony shall be of 1, 2, 6, 10, and 20 centime* Those of 1 and 2
JSi - - lu. tnnde (.f no re Conner, while the metal in the others shall lie composed
' ,L(t rt,vnnu, five- pointed star and the arms oi inc coiony— uw .u
fnmdL the^enter of the star with the indication of the value- and the fineness
f The copper coins shall bo struck with a grooved nm and those of nickel aith a
smooth rim. centime at 2 grams; 2 centimes, 4 grams; 6 centime*,
^ nuWmoioin'^conl^^^^y^lHnwtore^ o®ntiaMo?l0 miSl-
«7. ». and
Tlw odd ‘ ^°jj poniinuo to havo tiro visional currency in tho colony. A roy»l
Au«n»t 27, lW<t. aha'l <-">utn whlc£ three coin, .hall not have lurthar currency
^Svtliany iongo, in .he caah offle- oi ii.0 State.
ITriuulatlori.) »
The Silver Coins of the Belgian Konoo.
[Prom L* Economist* Kurop<'*n. Paris, May 7, 1900.]
The Official Bulletin oi the Belgian Kenco ha. published Utefellonin,, reflation,
July Z7- 1S*7’ . , July 1, 1911, these coins shall be e xchanged against the coins of
Art. L UP J r. lhfl ro|OI1j0i tresuiury at BrusselH and by the cash office* of
account (legal ct | ^ designated by the minister of tho ceiloniew. I hey shall
the Kongo, which shun bo (^u ^ ^ ^ rolo up to die date
continue uJ.b® dScharge of taxe*. contributions, or for any other puynumt.
above mentioned in ®*d th„ MUI1(, bulletin publisheel a re-gulation by the minister
1 r ni?* X^gnaling the cash office, of tU colony set apart to die service* of
;;Un^trth<- oXogeof tho abovo-doscribed coins.
Relative to Article 11 of the Law upon the Government of the
Paper Bei-ati Belgian KoNoe».
of Ihe Chamber of
1R,uv. turn. «h* "I»« .r «» '«>ISZ£3*8Xtt&ft3a “ “*
„ („( tho plan), “tiold and .ilvcr coin, .hall have ctirrcncy In Belgium
and'iS Kf^d^iiu^*on&'t which tho mlv« coin, .tntek by thclnde-
"A ' Krthc STahall not havo further cunoncy and .hall not bo any
P*yff*mwd by tho colonial troaaury.
250 REPORT DIRECTOR OF MINT.
"The profit which will remit from the coming o« Belgian coin, necereary, for the
•SRSIft SWr^SSSSw. «*. *• * ™
•Sffi^3feMSSrStWfiS5- a.
■Sfg “whore the free introduction of the coin b called to exereiso a happy
iitaZ?mUSenmofVie Latin Union. What will oventnally be the effect of the
°f u1D(“) Import and export of gold during 1909: Import*, gold coin, 100,000 francs;
State of the Kongo and of Greece).
Independent State of the Konoo.
French German, and English coins; ham wire, mi toko, equal to 52-65 centimeters,
“kKZ and 50 centimes (decree of July 27, 1^7);
ph“* .fM0.'»nd ^^rXrT'l'Sw'
iTwi^bcTihan^ forT^derinSl ^“^ntii July 1. mi
Belgian Kongo.
The gold and silver coins coined by the countries
8‘ The^reek silver pieces of 2 francs, 1 franc, and 50 centime, and 20 centimes are no
longer accepted in the pay offices of the colony since September 1, 1909.
Colony of the Konoo.
The monetary system of the late Independent State of the Kongo was regulated by
oViS"™ til? p.ld’fram'.' Th “lfgai-tender coin of payment « the
?^b?mnc ' and diameter as tire coins of the Latin Union. Three. fractional coins being
«Xgrable at the treasury of th.. state in llnissels against their values, or payableat
nicyht Tho odd coins being copper pieces of 10, 6, 2. and 1 centimes.
A decree of August 27, 1906, created, besides, odd coins with nickel alloyage, in
denominations of 2*5, 10, and 5 centimes. There were coined; Fnul„
In fractional Silver coins . >49,300.70
In copper coins . . 235,000.00
In nickel coins .
TW virtue of article 11 of the law of October 18. 1908, upon the Government of the
iJgLm Kongo, the gold and alver coins having currency in Belmum have currency
!inde? the samo conditions in tho Belgian colonv. It is lawfu fur the King to com
special (tapper coins for the colony. These coins do not have legal currency in Belgium.
~u74S670 francs wore rcmclted In 1900 and 1908, and tboincUl »u used for the coinage of nickel alloyed
REPORT DIRECTOR OF MINT.
257
In conformance with the provisions of that law. a royal decree of April 14, 1909 has
demonetized the silver coins of the Independent State of the Kongo. These coins
ceased to have legal currency in the colony from October 1, 1909; but up to July L
19U, they will continue to be accepted by the colonial treasury and the public cash
offices of the Kongo.
The International Monetary Convention of November 4, 1908, carried the quotas
of coins for each state of the union to 16 francs per head of the population, and estimated
the population of the Belgian Kongo for the application of that provision to 10.000.000
inhabitants. The coinages must be made by the employment of Belgian £cus. By
special provision Belgium has l>een authorized to use equally the silver coins issued
by the Independent State of the Kongo for the manufacture, which are thus incor¬
porated with the 5-franc pieces.
In 1909 a first amount of 900,000 francs of these coins has been remelted. The coun¬
ter value has been assigned to the colony. During the year the national bank has
remitted to the minister of the colonies and various organizations operating with the
Kongo, such as the special committee of the Katanga, the Bank of the Kongo, etc., the
following coins:
Francs.
Gold . . ■
Belgian <Scus .
Belgian oolns of 2 francs .
Belgian coins of 1 franc .
Belgian coins of 50 centimes .
170,000
901.250
252,000
682.250
260,000
Total . 2,558,500
On January 1, 1910, the colony, txwides, had 1.000.000 francs in silver coins of the
Independent State of the Kongo which had not yet been remelted. They must also
take into account the silver coins of various countries of the union which have been
imported through the ordinary way of exchange. .
A decree of March 15, 1909, created for the colony sepcial coins with nickel alloyage,
of 20, 10, and 5 centimee, and copper coins of 2 and 1 centimes. The same decree
regulated that the copper and nickel coins issued by the Independent State of the
Kongo should continue to have provisional currency. . , . .
The nickel and copper coins arc pierced in the center with a circular hole. The
design is the same for the various types and not different from the old corns of the State
of the Kongo except bvthe double inscription, ' Congo-belgc-Belgiseh-tongo. The
weightsan<? diameters of the 10 and 5 centime pieccsare the same as the P1^
of the same value The 20-centime piece weighs 6 grams and has a diameter of 25
“ujwoTtiie monetary faetoriee reined an amount of 300.000 ftanr* in niekel coins,
namely.
20-centlino pieces
10-oentlme pieces,
eple '
60,000
150,000
. 90,000
The net profit of this coinage assigned to the colony amqunrod to 261.000 francs.
A new emnage of nickel for 1,000.000 francs is going to lie made
MADAGASCAR.
Answers to interrogatories, 1909.
1 Amount of gold and silver coined during the calendar year 1909: Gold. 63.990
francs; silver, governments, or by other mints, for Madagascar during
2. Coinage*? Madagascar (coinage for same made at French mint).
1T:E«hSwd we’ght^' fmc gold and fine silver used in the industrial arts during
Materiel used-
Gold.
Sliver.
HSfesSS
Fine ounces.
232,919
ltvVU'2
325,799
736,780
Total . .
72663® — 11 - 1?
258
REPORT DIRECTOR OF MINT.
4. United States gold coin imported during 1909: None.
5. Gold and silver produced from mines of the country during 1909:
Description.
Kilogram*
(fim).
Valne.
Odd:
From de*p rnirv* . .. ..
M6.006S00
3,021. 863629
Franc*.
1,870,415.40
8,487,818. 16
From placer mining . . .
Total ... .
3,009. 960129
10,358.2*3.56
6. Approximate stock of gold and silver coin and bullion in the country on December
31. 1909: Though request na« been made upon the governor general of Madagascar
for the approximate stock of jjold and silver coin and million and stock in the public
treasuries and banks and in circulation, the following figures were given:
Francs.
Gold coin.
Stiver coin
63,990
19,734,911
It must be stated, however, that after investigation at the agency of the Comptoir
National d'Eseoropte de Paris at Tamatave, the stock in the public treasuries, banks,
and in circulation, given by the director of that establishment, amounted, on Decem¬
ber 31, 1909, to 26.000,000 francs.
7. Government and bank notes outstanding at the end of the year 1909: There are
no bank notes issued in Madagascar, that Government not having the privilege to
issue any.
8. There is no premium on gold.
9. No laws were passed during 1909 affecting the coinage, currency, or banking.
10. Report on operations of mint: No mint.
11 (a). Imports and exports of gold during the calendar year 1909: Gold ore was
exported from Madagascar valued at 10,207,967 francs.
11 (6). Imports and exports of silver during the calendar year 1909: None.
MONTENEGRO.
Memorandum on Montenegrin Coinage.
The Montenegrin coinage is based on the units of para and perpera or crowns; 100
para = 1 perpera or crown. The pieces are of copper (1 and 2 para), nickel (10 and 20
para), silver (1, 2, and 6 crowns), gold (10, 20, ana 100 crowns).
The copper pieces are of an alloy containing 950 parts of copper, 40 parts of tin,
and 10 parts of zinc. The nickel nieces are without alloy. The silver pieces contain
835 parts of silver and 165 parts oi copper. The gold pieces contain 900 parts of gold
and 100 parts of copper.
The total number of pieces struck to date is as follows:
Denomination.
Weight.
Number
of piece*.
Total
valne.
1 pan (copper) -
2 pares (copper .
10 pares (nickel) —
20 pares (nickel) .
Gram*.
300,000
830.000
1.000.000
1.000,000
Cmrn*.
2.000
17,000
100,000
200.000
. 2.000
4 000
1 crown (silver) .
2 crowns (silver) ....
10.000
5 crowns (silver) . . .
10 crowns ( gold ) .
25.000
oo! 000
300.000
20 crowns (gold 1 . .
In ono
i!nn' non
IGO crtums (roM » .
T* 0(X)
. —
■
REPORT DIRECTOR OF MINT.
Table op Weights op Muskat (Mahkat).
261
7 rattles (i. e., gun,
14 rattles (I. o., gun
21 rattles (I. e., gun )
) — 1 ibrami or mitkal.
) — j ibrami or mitkal.
} ibrami or mitkal.
28 rattles (i. e., gun ) - 1 Ibrami or mitkal.
7 mitkals or Ibrami (8 huruf) - 1 riyal or kurah.
0 rivals - 1 kyass.
24 kyass - 1 mann.
7| mann - 1 ferra.
20 forras - 1 kandi.
Note. — The Sultan misunderstood, and gave the weights in use in Oman. The key
to his table is tho “riyal” or “kursh,” which are but different names for the Maria
Theresa dollar.
SOUTH AFRICA.
Transvaal.
Answers to interrogatories, 1909.
1 and 2. No coinage executed. The mint has not been worked since the British
occupation of the Transvaal. , . t . . .
3 Estimated weight of fine gold and fine silver used in the industrial arts during
tho calendar year 1909: No returns. . . . . « , - _
4. United States gold coin imported and deposited at mint and melted during
1909: Nil. . , . , . . 1(lOQ.
5. Output of gold and silver from the mines of the country during 1909.
Derivation.
Kilograms
(fine).
Value.
Gold:
226,851.677
61.720
i £30, 980, 587
17,063
226,003.397
130,987,650
Silver: . . .
24,892.250
418.342
*84,420
*1,320
Contalnod lu shipments of Baba minerals * .
25,310.601
*85,740
silver «U».
lal valui
i commercial valuo.
(i. Approximate stock of gold and silver coin
her 31, 1909:
and bullion in the country on Decem-
Charactw of stock.
Gold:
Coin . .
Bullion.
Silver:
Coin . .
Bullion..
Total.
In public
In circula¬
In banks.
tion.
treasuries.
Nil .
Nil .
£. *•
3.3S2.631 10 00
273,897 12 H
(»)
Nil .
91,731 5 3
(')
”3/748, 160 8 2
- i No statistics avallablo. ^
7. Amount of Government and lholdfn^:iNhe
262
REPORT DIRECTOR OF MINT.
8. Premium on gold: This would depend on the current rate of exchange. No
statistics available. Gold is the standard currency of the colony. Silver is legal
tender up to 40s. ; copper up to Is.
9. No laws were passed during the year 1909 affecting the coinage, currency, or
10. Report published on operations of mint: (See answer to question No. 1.)
11. (a) Import and export of gold, (6) import and export of silver during the cal¬
endar year 1909:
GOLD.
Silver coin:
Porturuese East Africa . . > £5 uOO
Ail other States in the South African Customs Union . l m rqfi
ToUl . - . ^ 56.306
8flver bullion. United Kingdom . To"
£29. 1&5
29. IS
* AQ British coin.
Raw gold is described by the Transvaal Chamber of Mines as follows: “Raw gold
is bullion recovered from the ore by amalgamation, ryaniding, or other processes
before it has been refined. It contains anything up to, eav, 950 parts of pure sold
to the thousand parts.” * * *
Tax Txaxsvaai. Gou> Ocrrrr, lsua.
[From The Minins Journal. London, Jan. L5, 1910.]
Months.
_
The Rand.
Outside districts.
TotaL
Ounces.
Value.
Ounces.
Value.
Ounces.
Value.
January .
February .
March... .
.
June .
July .
August .
September .
October .
November _
December . .
591,976
550.645
MC. 415
5S7.ee*
608.411
Bum
599.078
M0.S04
MS. 736
581,132
576, 708
583.209
£2.514.555
2.338.901
2,5K> 422
2.496.078
2.563.128
2,532.563
2.544.722
2.510 Otft
2.488.060
2.40.183
2.449.965
2,477.216
23.137
14.573
15.085
19.475
21.087
21.012
21.716
20. 613
20.649
21.284
20.997
21.778
£98.281
61,901
*4,076
82,726
89.571
88,255
92.243
87.500
87.710
90.409
88.191
92.506
615.113
565,218
607.500
607.101
624.498
*17.228
630.794
611.537
006,385
602,416
597.765
004.967
£2.612.836
2.400.882
2.580.49b
2.578,804
2.652.088
2.621.818
2.636,865
2.597,646
2,575,760
2,558.902
2.539. 146
2,569.822
Total .
7,089. 136 29.900.359 241,406
1,035.308 7,280.542
30. 925,788
ZANZIBAR.
Answer* to interrogatories , 1909.
A A { 8ll.\er corned, coinage executed by other governments,
r by other governments for Zanzibar during the calendar year 1909: Ndbe
3. Gold and solver used in the industrial arts during 1909: Unknown.
4. United States gold coin imported during 1909: None.
REPORT DIRECTOR OF MINT.
263
5. Gold and silver produced from mines of the country during 1909: None.
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909: In public treasuries, 1,864 rupees; in banks, unknown; in circulation,
unknown.
7. Amount of government and bank notes outstanding at the end of the year 1909:
Rupees.
Notes outstanding (Government) .
Legal-tender silver holdings (Government) . o50*
8. Highest premium on gold during 1909: Rs. 15/2. Actual currency of the coun-
trv. Government of India rupee: sovereign of Rs. 15.
*9. Laws passed during 1909 affecting the coinage, currency, or banking:
Currency (Amendment) Decree.
Decree by Hie Highness Scyyid Ali Bin Hamoud, Sultan of Zanzibar. No. 21 of 1909.
In the name of the most merciful God. (1T, Ar>nr0o Nn 1
Whereas it is expedient to issue currency notes under * id
of 1908,” of denominations different from those set forth in sec ( )
decree *
It is hereby decreed as follows: word -20 rupees.” the follow-
1. In section 5, subsection (1). ” an,i alter the figures and word
ing figures and word shall be inserted. 50 P • j ert(.(i ‘aml auv multiple
“ 100 rupees.” the following words and toU be ™*™’uncncy bLd.”
of 100 rupees as from time to time shall b - decree 1909,” and shall be read
2 This decree may be aWdas and’,he two decrees may
and construed as one with Ihecurr y ,,
be cited as “The currency decrees V 908 and
(For llts Highness Seyyid All Bin Hamoud):KBALED Bin Mahomed Bin Said.
n.(u) Import and export of : gold during die calendar year 1909: Gold bullion
TV ol calendar year 190^
Classification and country.
Sliver coin:
Germany .
Aden .
Muscat .
India .
British East Africa .
Italian Bcnadir .
German East Africa. . -
South African ports. . - •
Total.
Imports.
RUPt%
183,350
2.020
1,160. 865
18.572
50.533
4,000
14.100
1.439,573
Exports.
Rupees
652,178
115,050
852
79,844
847,924
AUSTRALIA.
COMMONWEALTH.
264
REPORT DIRECTOR OF MIXT.
Up to the end of 1909 British sflver coin supplied to the Commonwealth states
of Australia: since then a local silver currency *, under an arrangement with Has
Majesty s Government, gradually taking *» p*ce There is no coinage of silver in
the Commonwealth mints
2 (« » and (b). Coinage executed for other Governments, and coinage executed at
foreign mints for Australia during 1909: MIL
Fin* gold and fine silver used in industrial arts during the calendar year 1909:
Gold, about, 4o. 104 fine ounces < qj details as to classification ■ Silver: Xo information
available.
4. Amount of United States gold coin imported or deposited at mint and melted
during 1909: Xo record. ... , ,
5. Output of fine gold and fine mlrer from mines of the country’ during the calendar
r 1909:
year ]
... ita»«
. mam «4i
14. m os
ar aas
m.cu.2
.. LJ
L5T4
g»Ml
Value.
i. am ITS
S4,»4
177tS4
6 Approximate stock of gold and silver coin and bullion in the country on June 30,
1909 Stock m banks. JTJ6.f97.S4J Amount in public treasury and in cirruiatioc:
Not available.
7. Amount of Government and bank notes outstanding June 30. 1909:
S. There i» no premium on gold
9. Laws passed during 1909 affecting the coinage, currency, or banking: An im¬
portant act has just passed the Common wealth Parliament providing for i*ues of notes
by the banks to be supplanted by Government issues, to be secured by a reserve held
by the treasury, a copy of which will be forwarded to you.
' 10 The Commonwealth mints being hand mints, no separate reports are published
beyond those included in the Annual Report of the Deputy Master of the Royal Mint,
London
11. («"> Import and export of gold. (4) import and export of silver during 1909:
REPOBT DIRECTOR OF MINT.
265
SILVER.
Stlrer coin:
£39.455
£6.000
Papua . . .
France . . .
Germany........ . .
. 1,500
347
350
313
. i.ooo
3 205
ucbri^.^. . _ ;;;;;
5.154
South Sett iSUUluS v^u ursMilit-u » . .
3J.337
16,374
^TT.SKinrdom .
1,677
43,343
MS, 300
166,760
74.330
350
2,110
5.030
1.360
28,650
106
United Kingdom (in matte) . . I! ! "I ! "IIIIIIIII
Ceylon . ‘ ’ 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 .
N>w Zealand....
Belgium (in mat U ) .
Franco (In matte). •
United States .
2.294
660,237
Oliver and sHverdood ore and concentrates:
S United Kingdom. . I™:::.:.....
New Zealand . .
Belgium . . . . . .
Franco . . .
Germany . .
Netherlands .
. 450
36,438
. 438,743
37,038
134,050
138,471
450
765,630
Id ore and concentrates.
266
REPORT DIRECTOR OF MINT.
The Commonwealth or Australia.
No. II of 1910. ^Assented to Sept. 16, 1910.)
[An net relating to Australian notes. ]
Be it enacted by the King’s Most Excellent Maiestv, the Senate, and the House
of Representatives of the Commonwealth of Australia, *as follows
Part I. — Preliminary.
1. This act mav be cited as the Australian notes act, 1910.
2. This act shall commence on a day to be fixed by proclamation.
3. In this act, unless the contrary intention appears* hank ” means a person or com¬
pany carrying on the business of banking; “bank note” means a bill or note for the
payment of money issued by a bank and payable to bearer on demand and intended
for circulation; “constable ’ includes any member of the police force of the Common¬
wealth or of a State or of part of the Commonwealth; “treasury bill " means a treasury
bill under this act.
A. (1) From and after six months after the commencement of this act —
(a) A bank shall not issue, or circulate as money, any note or instrument for the
mon-e>' by a State and payable to bearer on demand; and
{b ) A note or instrument for the payment of money issued by a State and payable
to bearer on demand shall not be a legal tender.
(2) A bank which, in contravention of this section, issues or circulates as money any
note or instrument issued by a State and payable to bearer on demand shall be liable
to a penalty not exceeding five hundred pounds.
(3) Proceedinp for an offense against this section shall only be instituted by the
attorney general or by a person acting under his authority.
Part II. — Australian notes.
5. The Governor General may authorize the treasurer from time to time to—
(а) Issue Australian notes.
(б) Reissue Australian notes; and
(e) Cancel Australian notes.
Australian notes may be issued in any of the following denominations,
pounds and sha/b^ °ne P°und* five pounds, ten pounds, or any multiple of ten
fa) Be issued from and bear date at the Commonwealth treasury
(6) Be a legal tender throughout the Commonwealth and throughout all territories
under the control of the Commonwealth; and *
(r) Be payable in gold coin on demand at the Commonwealth treasury at the seat
oi government. J
{2) l ntil the Parliament meets at the seat of government, the seat of government
for the purposes of this section shall be deemed to be at Melbourne
,-^.Au%IJlun notes 8h*ll te" thereon the signatures of such officers as the treasurer
Ji? 1 lnres™y te made in the handwriting of the officers or may be made
b\ engraving, lithography, or any mechanical process approved by the treasurer
»r‘rUmfKAu9t^r n°^® “e tourer may use the note fonhs of any State or of
te uec'oasary. notwithstanding that such
tSsacT pnnted or WTltten upon them a date antecedent to the commencement of
^ The moneys derived from the issue of Australian notes and any interest
SSKfWi <° the credit. of an account called the AuaSliln no,«
W^>ww f?ia UU81 account'r’thm the meaning of the audit acts, 1901 -190C
orany'part thereof—
>?) tk securities of the l nited Kingdom, or of the Commonwealth, or of a State
^ 8CU °r dwpose of a°y purities in which any moneys to the
credit of the Australian notes account are invested * mammy* me
e™J^d-°ney8 PUnding t0 ** 0f 1116 Australian notes account may be
(а) In the redemption of Australian notes, and
(б) In the payment of the expenses of the administration of ibis act.
REPORT director op mint.
267
9. (1) Th© treasurer shall hold in ©old coin a reserve t n
(a) An amount not lew than one-fourth of , , fo!loiw,,;
up to seven million pounds; and the 1111011111 of Australian notes i«ucd
JltloZT eqUa‘ 10 ,h° “"»* °f noted i*„ed in exce» .von
which have beeiw^eemri* dudlnotVe todudS “0tCa “Ued’ th' *mount of noU*
bank or ^iZ^rityTr “y n0,<,s or d^il “« ** »y
v“" m
[5! *£ a”ount of, goM win held ^
GaMtteh Btatement eha" bo countersipied by the treasurer and published in the
12. (1) Every bank shall-
(a) Keen in accordance with the proscribed form, a record of all bank notes i»ued
or reissued by the bank after the commencement of this act and not redeemed by the
bank at the close of business on Monday of every week, and
iP) On or before the 31st day of March in each year, send to the treasurer a copy
of such record for the previous calendar year, verified by a declaration in accordance
with the prescribed form.
Penalty: Five hundred pounds.
(2) This section shall not come into force until the day on which the bank notes tax
act, 1910, commences.
Part III.— Treasury bill*.
13. The treasurer may, from time to time, issue treasury bills to such an amount
as he thinks proper, but so that the total amount of the bills Lwued shall not exceed
the amount or Australian notes issued and not redeemed at the timo when the bills are
issued.
14. Treasury bills shall—
Be in accordance with the prescribed form;
r Bo for such sums as ore prescribed ; , , A . . _
Be for such period, not exceeding five years from the date of issue, as is pre¬
scribed;
Iteirmtereet not excwd in* four pounds per centum per annum
15. (1) The principal and imerent parable in respect of IWMUiy bUfeaM be cMse-
able on and payable out of the conaofidatcd revenue fund, which is hereby appro-
Pt2)0Therinte0rTa“ab.o in respect of treaaury bill, shall be paid half yearly at
the Commonwealth er in any place
k^^Tbe moneys £& gSZSfiX"* •» *">' » bU1* be ‘PpHed
toward the redemption of Australian notes. # #
Australia’s Declining Gold Yield.
American
Sir: I have the honor to inform you amt iuge^X arises
ralia’s yield of gold promises to become }«■ gdeDoiit* in the known mining dutneta
ntirol/from natural causes. The nch aUuvud de^«^ formationfl. The
re being worked out, as well as the I^^eJn A ustraiia, Victoria, Qog®*"*
a the yield is not confined to any one Sta , duo to the depletion of
Ad Now South Wales all have to record • idada* o m ^ U>n b> ^are
re. But this means that °ro|odl?th tho^ Svement in
ovr being tested and they will, with 1 . V t months of this >^r
ccount. The gold yield of Austra us.a for ^ for the corresponding period
,122,512 ounces (fine) as against 3,223,041 ounces *
268
REPORT DIRECTOR OF MINT.
in 1908. The figures for this year compare with those for the corresponding term in
1907 and 1908 as follows:
State.
1907
1908
1909
Victoria .
Ounces.
629,845
222,614
416,486
1,543,097
11,000
55,000
Ounces.
597,871
203,032
415,616
1,508, 752
7,200
55,500
Ounces.
577,207
183,028
408,737
1,461,188
6,800
55,000
New South Wales .
Queensland .
Western Australia .
South Australia1 .
Tasmania 1 . . .
Total Commonwealth .
2,878,042
433,044
2,787,971
435,070
2,691,960
430,552
New Zealand .
Total .
3, 311, 9SG
3,223,041
3,122,512
1 Approximate.
I have the honor to be, sir, your obedient servant,
The honorable Assistant Secretary op State,
Washington, D. C.
John P. Bray,
Consul General.
NEW ZEALAND.
Answers to interrogatories , 1909.
1 and 2. Amount of gold and silver coined, coinage executed for other Governments,
or by other Governments during 1909: Nil. ’
amount of fine gold and fine silver used in the industrial arts during
and meteldSringlw^ NUStatea COi“ aDd amount °f defx>sitt'd at mint
r±±I?0UDi0f^0ld 8dver Ponced from mines of the country during 1909:
£2 00?9fiS^riW°^ g°Ld fr°m (?ep mine8' 15,750.26 kilograms (fine), valued at
£180872 * h°m dry °r 8111000118 ores’ 56,417.73 kilograms (fine), valued at
ber'^^onq11?^ t of g0!d a£d 8llver coin bullion in the country on Decern-
gold and^ailver buHi^n^ JS112,f&0^iOs!'nwand ot^er coined ■netals, £4,977,994 2s. Id.;
No^oTb™ to 5 toS.T.SragMfc &T 0Ut8Undil,8 at the end of *•» 1W9:
8 and 9. No reply. ’ *
of1di^tmS,rol^5«h^^£t #nd dcPartment of mine* for 1909: Copy of report
year 1909ImPOrt an<1 0Xp0rt of gold’ ^ imPortand export of silver, during tho calendar
GOLD.
Classification and country.
Imports.
Exports.
Gold coin:
Victoria .
Now South Wales. .
£650,000
100.000
£10,260
Total .
375
9,600
Gnld hnlllAn*
750,000
20,235
vi uiii mumm.
United Kingdom .
Victoria . .
1,124,525
Total .
391,357
491,018
Gold ore*
2,006,900
United Kingdom .
140
Total .
2,310
2,450
REPORT DIRECTOR OP MINT.
269
SILVER.
Classification and country.
Imports.
Exports.
Silver coin:
United Kingdom .
FUI .
£102,075
Malden Island .
£185
South Sea Islands .
25
Total .
102,127
5,400
Sflver buUion:
5,610
United Kingdom .
91
47 295
New South Wales . .
15
’382
133,196
180,872
Ceylon . . . ...
Total .
106
American Embassy, London, July 7, 1910.
Sir: With reference to the embassy’s letter of the 3d ultimo and previous corre¬
spondence respecting the production of gold and silver in the British colonies, I
have the honor to transmit herewith for your information a copy of a dispatch which
has been received from the governor of New Zealand by the foreign office, giving a
return of the production of gold and silver in New Zealand for 1909.
I am, sir, your obedient servant, __ ~
* J Fred. Morris Dearino,
Second Secretary of Embassy.
ICopyJ Government House,
Dominion of New Zealand,
Wellington , May i, 1910.
were: Gold, 506,371 ounces, equal to It, £180,872.
silver, 1,813,830 ounces, equal to 56,417.73 kilograms,
I have, etc., (Signed)
Plcneet,
Governor.
The Earl op Crewe, K. G., etc.
QUEENSLAND.
Answers to interrogatories, 1909.
land 2 (a). No mint in .Queensland. Queensland: Information not avulaMe.
! ‘Si^B’.S'SSJKEB SSSS «■ >“
Gold and silver coin. .
Gold and silver bullion.
270
REPORT DIRECTOR OF MINT.
outstanding at the end of the year 1909, $7,934,842.85 (not
r;Cttrg0,d and 8“VCT Coin 0r bullion); gold and legal tender silver
8. There is a premium on gold.
9 No lawn were passed during 1909 affecting the coinage, currency, or banting
10. Copy of report of department of mines forwarded under separate cover,
year 1909 ImP°rt ^ exPortof gold, (b) importand export of silver, during the calendar
GOLD.
Classification and country.
Imports.
Exports.
Gold coin:
New Sooth Wales .
United Kingdom .
Hongkong .
<3,078,061.25
<238,458.50
282,257.00
155,728.00
652.11
74,613.18
Total .
3,078,061.25
751,708.70
Gold bullion:
Papua .
81, 596. 01
New South %Vales . . .
New South Wales (in matte). . . “ .
180.06
United States of America . .
Total .
48,937.52
77,435.75
Gold ore: .
81,776.67
8,378,935.31
United Kingdom .
206.86
SILVER.
New South Wales...
New Zealand .
Queensland .
South Australia .
Tasmania .
Victoria .
Western Australia. .
Total
State or colony.
Fine
ounces.
204,700
472.465
455,576
7,860
44,777
664,222
1.505,260
3,485,007
REPORT DIRECTOR OF MINT.
271
SOUTH AUSTRALIA.
Answers to interrogatories, 1909.
1. Amount of gold and silver coined during the calendar year 1909: No coinage in
South Australia.
2. Coinage executed for other Governments, or by other mints for South Australia
during 1909: Nil.
3. Estimated weight of fine gold and fine silver used in the industrial arts during the
year 1909: No records available.
4. United States gold coin imported or melted during the year 1909: Nil.
5. Gold and silver produced from mines of the colony during 1909:
Description.
Quantity.
Value.
Colonial production:
Gold from deep mines and from placer mining . ounces.
Silver from dry or siliceous ores . . do. .
Silver from lead and copper ores . tons.
14,087
1,660
70
£58,112
167
416
6. Approximate stock of gold and silver coin and bullion in the colony on December
31, 1909:
Character of stock.
In public
treasuries.
In bonks.
In circu¬
lation.
£019
> £2,313,035
8,599
8
(*)
Gold and silver bullion .
118
1,037
2,321,634
(*)
i Gold and sliver coin. * No record.
7 Amount of Government and bank notes outstanding at the end of the year 1909:
No issue of Government notes. Notes of banks of issue, £497,940, more than covered
by total coin and bullion, £2,321,634.
8 There is no premium on gold . , . . .
9. Laws passed during 1909 affecting the coinage, currency, or baukmg: Bills of
nv chance act, 1909. __ _ ,, .
10 Report on operations of the mint: No mint in South Australia.
11 (a) Import and export of gold, (6) import and export of silver during the cal¬
endar year 1909:
GOLD.
Classification and country.
Imports.
Exports
(oversea).
Kingdom .
£7,500
90
2,500
10,000
Hongkong . . .
Ceylon . . .
yTusuaS* * * 'riiiriiiiiirririi -
' " £1,666
440,000
Western aushiib* . - . ****
441,000
20,090
Gold bullion:
United Kingdom .
16
1,997
16
1,997
120
272
REPORT DIRECTOR OF MINT.
SILVER.
Classification and country.
Imports.
Exports
(oversea).
Silver coin:
£3,000
700
800
Victoria .
Total .
4,500
Silver bullion:
Ceylon .
£166,760
74,320
5,030
India . .
China . . .
Total .
246,110
Silver ore:
United Kingdom .
5,200
26,915
6
38,616
Belgium .
France .
Netherlands .
New South Wales .
65,396
Total .
65,396
70,737
1 A large quantity of concentrates (silver-lead) was imported from New South Wales, but the figures
are not available.
Note.— Imports (of coin) from other States are shown above, but the exports to other States are not
available.
TASMANIA.
Answers to interrogatories , 1909.
1 and 2. Amount of gold and silver coined and coinage executed for other Govern¬
ments or by other Governments during the calendar year 1909: Tasmania is part of
the Commonwealth of Australia and has no separate mint of its own.
3. Estimated weight of fine gold and fine silver used in the industrial arts during
the calendar year 1909: No means of ascertaining, but probably insignificant quanti¬
ties:
4. Amount of United States gold coin imported and deposited at mint and melted
during 1909: Not any gold coin was imported except transfers from some other States
of the Commonwealth. No United States coin used here.
5. Gold and silver produced from mines of the country during the calendar year
1909: Colonial production, gold from deep mines and placer mining, 44,777.366 ounces
(fine), valued at £190,201 ($895,613.16).
Return Showing the Quantity and Value of Gold and Silver Products for
the State of Tasmania during the Year ending December 31, 1909.
Classification.
Quantity.
Value.
44 777
•Pi on on i
Silver-iead ore . . tons'
7* y 4 4 4 • OU\»
on 07R
OOC OCA
OU f O • o» uO
&oU
1 FIne g°1(b including gold contained in blister copper and silver-lead bullion.
6. Approximate stock of gold and silver coin and bullion in the country on Decem-
ber 31, 1909: Amount in public treasuries, none in Tasmania. Amount in banks
(totals of amounts of gold coin, gold bullion, silver coin and silver bullion only can be
given; no means of ascertaining separate amounts), £704,800 15s. 3d. ($3,429,809 20)
Amount in circulation, £250,000 ($1,216,625), or about 25 per cent per head of the
population.
7. Amount of Government and bank notes outstanding at the end of the vear 1909:
No Government notes issued here. J
Value of bank notes in circulation on December 31, 1909, £156,434 ($761,286).
REPORT DIRECTOR OF MINT.
273
8. There is no premium on gold; currency is always at a parity with gold.
9. No laws were passed in Tasmania affecting the coinage, currency, or banking
during 1909.
10. No mint report issued separately for Tasmania. Annual report of mines of Tas¬
mania not yet issued; will be forwarded when published.
11. (a) Import and export of gold during the calendar year 1909: No gold imported
except, possibly, transfers from other States. For value exported see answer to
preceding question.
11. ( b ) Import and export of silver during the calendar year 1909: No silver imported
except, possibly, transfers from other States. For value exported see answer to ques¬
tion 10.
12. Coinage system of the country: Coinage is the same as for the rest of Australia;
English system of pounds, shillings, and pence used. Unit is a pound sterling.
STATE OF VICTORIA.
Answers to interrogatories, 1909.
1 and 2. Amount of gold and silver coined: Coinage executed for other governments
or at other nfints for the State of Victoria during the calendar year 1909:
Denomination.
Number of
pieces.
Value.
GOLD.
3,029,538
186,094
£3,029,538
93,047
Half sovereigns. . . * . . . .
3,215,632
» 3, 122, 585
SILVER.*
1,600
800
1,200
3,200
2,000
Hall crowns .
blXpCDCC*
Threepence . * . . . .
8,800
i of this value, £2,982,465 was from new coinage and £140,120 from recoinage of domestic gold coins.
* This silver coinage was struck in London and would appear In the London mint returns; thcdenomi-
naHons ^n bo found enumerated herein. British silver coin of the face valuo of £5,563 was withdrawn
from circulation and forwarded to the London mint for recoinage. No silver coinage was executed at
Melbourne mint.
3 Estimated weight of fine gold and fine silver used in the industrial arts during
iq09- Not ascertainable.
4 United States gold coin imported and deposited at mint and melted during
1909- Imported, approximately $1,000 in the hands of travelers; melted at mints,
too insignificant to be recorded.
5 Gold and silver produced from mines of the country during 1909:
DerivaUon.
Ounces
(fine).
Value.
V1° OoldVro m1 dwp mines and placer inlnlnR .
> 654,222
*21,655
£2, 778, 936
2,310
Sliver from lctici and copper ores. . . - .
i As far as can bo ascertained, 233,000 ounces of the above gold was obtained from alluvial and the remain-
^e*r Thi? s^l ver* was extracted from gold at the mint and was the only silver produced in the State.
72663°— 11 - 18
274
KEPORT DIRECTOR OF MINT.
6. Approximate stock of gold and silver coin and bullion in the country on Decem¬
ber 31, 1909:
Character of stock.
In public
treasuries.
In banks.
In circula¬
tion.
Gold coin . .
Nil .
£7,788,457
423,723
274,628
£529,620
Gold bullion .
Nil..
Silver coin .
Nil .
119, 145
Total .
8,486,808
648,715
7. Amount of Government and bank notes outstanding at the end of the year 1909:
No Government notes issued. Notes of banks of issue, £865,252, fully covered by
gold coin and bullion.
8. There is no premium on gold.
9. Laws passed during the year 1909 affecting the coinage, currency, or banking:
An Act Relating to Currency, Coinage, and Legal Tender.
(Assented to Sept. 4, 1909.)
Be it enacted by the King’s Most Excellent Majesty, the Senate, and the House
of Representatives of the Commonwealth of Australia as follows:
1. This act may be cited as the coinage act 1909.
2. In this act, unless the contrary intention appears —
“British coins” means coins which have been issued in accordance with the laws
of the United Kingdom and which have not been called in in pursuance of those laws*
“Australian coins” means coins, which have been issued m accordance with this
act, and which have not been called in in pursuance of this act.
3. The standard weight and standard fineness of the gold, silver, and bronze coins
of the denominations mentioned in the schedule are as specified in the schedule
(See answer to No. 12.)
4. (1) The treasurer may cause to be made and issued silver and bronze coins of
the denominations specified in the schedule.
(2) All silver and bronze coins to be made and issued shall be of the weight and
fineness specified in the schedule. 6
(3) In the making of silver and bronze coins a remedy (or variation from the stand¬
ard weight and fineness specified in the schedule) shall be allowed of an amount not
exceeding the amount specified in the schedule.
(4) The treasurer may cause to be made and issued nickel coins of the denomina-
tions, weight, and fineness specified m any proclamation under this act
5 (1) A tender of payment of money, ii made in coins which are British coins or
Australian coins of current weight, shall be a legal tender-
fa) In the case of gold coins, for the payment of any amount*
. fl m?,?8® °f Silvfr coinSl f?r the, Payment of an amount not exceeding forty
shillings, but for no greater amount; and b J
(c) fn the case of bronze coins, for the payment of an amount not exceeding one
shilling, but for no greater amount. uue
• (2) • uC.T eha11 be deemed to bo not of current weight if it has become diminished
in weight by wear or otherwise— ^uun_ unmnisnea
(а) In case it is a British coin, so as to be of less weicht than thr> rcoiohi j
as the least current weight in the law of the United Kingdom applicable to tffcd^
(б) In case it is an Australian coin, so as to be of less weieht th™
Bed as the least cuirent weight in any proclamation undcfthis tct h gh 8peC*'
0. No piece of gold, silver, copper, or bronze, or of any metal or mixeH m„,„i t
any value whatever (other than a British or Australian coin) shTlI h^ i ^ °i
as a com or as a token for money, or as purporting that ^ ® or lssued
to demand any value denoted thereon. P Penalty* TwenW ™LnXlherC°f 18 entltled
7. Every contract, sale, payment bill not** inarm™ . ♦ P°Uj a*
and every transaction, dealing, matter/and thing whateverreStog ' to ~ m°ney’
REPOBT DIRECTOR OF MINT.
275
according to the coinsS a?e cu^td^m'j^i Wd-1,,to- doae' and ^
act, and not otherwise, unleas the Rame he m«rif fg tender in pursuance of this
had according to the current Te^ BriiM^L^Utedf enterfd into, done, or
8. (1) TheGovernor Geneml nZbvmXr^T!?11 n 80036 foW 8tate*
things, namely ^ ^ P do all or any of the following
JSSSSSeSS’cSS^s -
IS aSn^AuJtu1^81 'Urre?t Wei?ht of an7 Australian coin;
b& S'^tayffK'.SiSK « ■">■ AuWnliM
■4- ar^a.yatasg.'g" ‘arrasa
proclamation and not exceeding five shillings; and P ln 016
thiil- very .Pr<?cIan“t,j°n under this section shall come into operation on a date
therein specified and shall have effect as if it were enacted in thWt
in thi ™.tyn 8tandmg to the credit of the trust fund may be invested by the treasurer
m the purchase of bullion for coinage.
**?,• uT 1116 PurP°8es 1 °f the treasury accounts coin made in pursuance of this act
shall be considered as bullion until issued for circulation.
11. The Governor General may make regulations, not inconsistent with this act,
prescribing all matters and things which are necessary or convenient to be prescribed
tor giving effect to this act.
Schedule.
Denomination.
Imperial
weight
Metric
weight
Imperial
weight
Metric
weight
Gold:
Five pounds .
Grains.
616. 37239
246. 64895
123. 27447
61.63723
174. 64545
87. 27272
43. 63636
21.81818
145. 83333
87.50000
Grams.
39.94028
15.97G11
7.98805
3.99402
11.31036
5.65518
2.82750
1.41379
9. 449S4
5.66990
Grains.
612.50000
245.00000
122.50000
61.12500
Grams.
39.68935
15.87574
7.93787
3.96063
Two pounds .
Sovereign .
Half sovereign .
Silver:
Florin .
Shilling .
Sixpence .
Threepence .
Bronze:
Penny .
Halfpenny .
Denomination.
Standard fineness.
Remedy allowance,
weight per piece.
Millesimal
fineness.
Gold:
Five pounds .
Two pounds .
Sovereign . . .
Half sovereign .
Sliver:
Florin. .
Shilling .
Sixpence .
Threepence .
Bronze:
Penny .
Halfpenny... .
[fi fine gold, A alloy, or millesl- 1
f inal fineness 916.6.
Ijj fine silver, A alloy, or mlllesi-
| mol fineness 0. 925.
\ Mixed metal, copper, tin, and (
f tine. \
Imperial
grains.
r 1.00
.40
.20
.15
.997
.578
.346
.212
2.91666
1.75000
Metric
grams.
0.00479 )
.02592
.01296
.00972
.0646
.0375
.0224
.0138 j
. 018899 1
.11339 f
2
4
None.
10. The report of the Melbourne mint is contained in that of the royal mint at
London, England, the former being a branch of the latter.
276
REPORT DIRECTOR OF MINT.
11. (a) Import and export of gold, (6) import and export of silver during the calendar
year 1909:
GOLD.
Classification and country
Imports. Exports.
Gold coin:
Great Britain . .
New Zealand...
Ceylon..
India....
Natal.
China .
France .
Japan .
Hongkong.
Total..
Gold bullion:
Great Britlan..
New Zealand...
United States.
Ceylon .
India. .
Total..
Gold ore:
Great Britain.
Germany .
407.200
£180.675
600.000
2,800
60.093
125,000
15,070
252
950.000
95.037
2,037,927
SILVER.
Silver coin : France .
£4S
Silver bullion:
Great Britain .
£1.304
50.455
New Zealand .
1
Total .
1.305
50.4S5
Silver ore: Belgium . . . .
34.933
Victoria Banking Returns
[From The Australasian Insurance and Banking Record, Melbourne and Sydney, January, 1910.)
*******
For the year (1909) there is a large increase in deposits — the increase being divided
nearly equally between Government deposits and other ” deposits, and a moderate
contraction of advances, the general position thus being easier. The holdings of
coin and bullion show for the year the large increase of £1,181,046, and the ratios
to call and total liabilities are therefore muen higher.
*******
An increase of £3,077,145 in total deposits for 1909 compares with a decrease of
£1,630,746 for 1908. while a decrease in advances of £795,816 for 1909 compares with
an increase of £472,456 for 1908.
THE NOTE CIRCULATION.
The note circulation on December 31, 1909, was £865,252, which shows an increase
over 1908 of £23,648. There was a decrease in 190S of £47,753. The improvement
is doubtless attributable to greater activity in the country districts, where the circu-
tion is comparatively large.
COIN AND BULLION.
The holdings of coin and bullion on December 31, 1909, was £8,491,775, which
shows an increase over 1908 of £1,161,046.
REPORT DIRECTOR of mint.
WESTERN AUSTRALIA.
Ansuiera to interrogators, 1909.
branch™0*1"1 °f g°M C°ined durin8 the year 1909: At the
277
royal mint, Perth
Denomination.
Number of
pieces.
Value.
Sovereigns .
4,524 241
f i rni Aii
Total .
44io22
&4, jJ4,241
22,011
4,508,263
4,546,252
There was no recoinage.
2. Coinage executed for other governments: No. Coinage executed at other mint*
for Western Australia: Silver and bronze coin (imperial currency) executed at the
£11 200 •'bronze ^*>80 e<^ t0 ^ ^ circulation to the follo™g extent: Silver,
^Estimated weight of fine gold and fine silver used in the industrial arts during
New bullion Issued by royal mint, Perth branch-
Gold .
silver .
Fine ounces.
. 99
1,504
Approximate estimate from manufacturers:
Fifty-four men working at an average of 15 ounces per month per man, equals fine gold used for
the year . . . 9, 720
Six chainmakers working at an average of 40 ounces per man per month, equals for the year. 2.SS0
Total fine gold used for the year . 12,600
The approximate quantity of fine silver used equals that which is mostly used for alloyingpurposes. 2,500
These figures are only approximate and based on the practical knowledge of manu¬
facturers.
4. Total import of United States gold coin, and amount of same deposited at mint
and melted during 1909: Nil. . _ . . , ,
5. Amount of gold and silver produced from mines of the country during the calendar
year 1909: Fine gold, 49,618 kilograms, equal to 1,595,269 ounces, \alued at £6,/ 76,273,
fine silver, 4,112 kilograms, equal to 132,203 ounces, valued at £14,3— n
C. Approximate stock of gold and silver coin and bullion in the country on
her 31, 1909:
Character of stock.
In banks.
In circula¬
tion.
£1,834,464
1 552,978
£275,000
105,000
Silver and bronze coin . . .
2, 4S7, 442
380,000
> Silver coin.
(The estimate of coin in circulation is based q aud siIvercoin, the official
In the banking returns the banks do not dist g ,netals,” but it may be assumed
classification being “coined gold and silver am bullion are only nominal,
that the holdings of silver and bronze coin ai 1909: issued by banto
7. Amount of bank notes outstanding at the end loU thcryew ^
of issue, £351,978. No special reserve against note iss
Australia. . . .
8. Gold is at par, and has no premium. currency, or banking:
9. Laws passed during 1909, 0f exchange act, 1909. . f tjie
wealth of Australia coinage act, 1909, and • - isincluded Jn J*c 0f the
, 10. The report of the Perth branch of the A copy of the report 0^
deputy master and comptroller of by the department 0 ^ gtates
department of mines for 1909 WI11 bef Department, Waflhmgto ,
ready to the Bureau of the Mint, Treas >
of America.
278
li.
calendar year 1909:
REPOET DIRECTOR OF MINT.
11. (a) Imports and exports of gold, (6) imports and exports of silver, durinc the
Lifinnnr vonr lQftQ’ 0
GOLD.
Classification and country.
Gold coins:
New South Wales. .
Victoria .
South Australia. . . .
Total Australian States. .
Germany .
India and Ceylon .
South Africa .
United Kingdom .
Total.
Imports. Exports.
£540,000
410,000
440,000
1,390,
450,
1,040,
525,
97,
Gold bullion:
Victoria .
India and Ceylon. .
United Kingdom. .
Total.
Ore and furnace products:
Germany .
United kingdom .
United States .
Total.
24 2,141,521
3,407
45,750
17,101
00,284
SILVER.
Silver coins, United Kingdom.
£18,200
27
0,1 ' vi uuiiiuu, uiuutu jvingaom. .
In matte: .
United Kingdom .
£14,541
1,118
710
Total .
10,369
brStor’iuduS'nSSSf ““ ■0,d ',m SpecWly pn'p“"
ed at royal mint, Perth
Comparative Statement op Gold Bullion Entered for Export and Received
aTjThe Perth Branch op the Royal Mint during the Years 1907, 1908, and
Export.
Mint.
Total.
Value.
Ounce*.
431,803.14
358,353.96
380, 37h 58
Ounce*.
1.265,75a 45
1,291,557.17
1,198,898.83
Ouncej.
1,697,553.69
1,647,911. 13
1, 595,209. 41
£.
7,210,749
6,999,981
0,770,273
«. d.
0 2J
10 10$
14 7j
iisss
INDEX.
A.
Abyssinia: Pft«c-
Monetary statistics of . 246
Africa:
Monetary statistics of . 246
Production of gold and silver, 1907, 1908, and 1909 . 102
Alabama:
Production of, 1909, estimate of Director . W)
*
Production of, 1909, estimate of Director . 60
Amount and cost of silver bullion purchased for subsidiary coinage . ij>
Approximatedistributionof goid and silver of producing States and Territories,
estimate of Director .
Arabia: 212
Monetary statistics of .
Argentina: 142
pSon^gdd^dsii^V/i^; 1*908*, "and *1909 ! ! ! ! ! I i i i I » " ■’ i *■
Arizona: , 60
Production of, 1909, estimate of Director .
Arts and manufactures: . ; 56
Gold and silver used in United States . 59
Gold and silver used in the world . 21
Assay Commission, proceedings of . ‘ ^ - . 44
Assay offices, minor, work of . . .
Assay office at New York: 39
. *2
AU8(£taageof, 1907, 1908, and 1909 . """".'"".‘I 263
SSKK1 of^icT & vav«; m 102
Aub^'^Ti^7. 'so®. 1909 . :::::::::::::: IS
i9^1909; 105
g«WCm°LondeonB'mcel870: . »8
B.
nuances0 bullion, inintsand aaaay officea: ! «
g£Kft{5* exposition of rceerve . ^
BaraElchangod for gold coin... . . v - • • • — . ! ! ! ! ! ! ! ! ! ! ! ! ! : : : : : : : 58
. ”
BclgCotai«eof, 1907 and 1909 . i " "I "Z! I"::: HI---- - '«?
Monetary statistics of . - . 44
Boise assay office, operations of . 279
280
INDEX.
Dunvm.
Coinage of, 1908 and 1909 .
Monetary statistics of . - •
Production of gold and silver, 1907, 1908, and 1909.
Brazil:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
British Empire:
Coinage of, 1907, 1908, and 1909 . .
Imports and exports of coin and bullion .
British East Indies:
Coinage of silver, 1909 .
Production of gold, 1907, 1908, and 1909 .
British Guiana:
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
British Honduras:
Coinage of, 1907 .
British India:
Coinage of, 1907, 1908, and 1909 .
Production of gold, 1907, 1908, and 1909 .
British North Borneo:
Monetary statistics of .
British West Africa, monetary statistics of .
Bulgaria:
Monetary statistics of .
Bullion:
In mints and assay offices June 30, 1910 .
Operations, fiscal year 1910 .
Purchased . . .
Silver, average, highest, and lowest price .
Silver, balance on nand June 30, 1910 .
Value of silver dollare at average price of silver from 1837, table of.
C.
California:
Production of, 1909, estimate of Director .
Canada:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of . .
Production of gold and silver, 1907, 1908, and 1909. .
Cape of Good Hope:
Monetary statistics of .
Carson mint, operations of .
Central America:
Monetary statistics of .
Production of gold and silver, 1907, 1908, and 1909. .
Ceylon:
Coinage of, 1907, 1908, and 1909 .
Cyprus:
Coinage of, 1907 .
Charlotte assay office, operations of .
Chile:
(linage of, 1907, 1908, and 1909 .
Monetary statistics of .
Production of gold and silver, 1907, 1908. and 1909.
China:
Coinage of, 1907. 1908, and 1909 .
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
Circulation of money in the United States June 30, 1910.
Classified statement of expenditures .
Coin, subsidiary, cost of silver purchased for .
Coin, United States, in Canada .
Coins, foreign, melted by certain countries .
Coins, foreign, value of .
Coins, United States, melted by various countries .
Page.
101
145
102
102
148
102
101
185
101
102
158
102
101
101
102
235
246
174
55
46
16
17
17
98
60
101
122
102
253
44
131
102
101
101
44
101
151
102
101
213
102
55
20
16
56
61
63
61
INDEX- 281
9ilIer T06 l»Mne ounces and value, by fiscal years P‘?4
United States, fiscal year 1910 . } 3 . {*
United States, 1907, 1908, and 1909 (table)... . lit
United States, since 1873, by weight and value .
United States, for Philippines . .
World . . . . “
World, 1907, 1908, and 1909, table of . I!!!!!"""""!" . 101
World, since 1873, by weight and value . 61
Colombia:
Coinage of, 1907 and 1908 . 101
Production of gold and silver, 1907, 1908, and 1909 . 102
Colorado:
Production of, 1909, estimate of Director . 60
Commercial value of silver . 17
Cost of maintenance . 52
Cost of silver purchased for subsidiarv coinage . 16
Costa Rica:
Monetary statistics of . 130
Course of silver . 17
Cuba, monetary statistics of .
D.
Danish West Indies, coinage of, 1907 .
Dead wood assay office, operations of . 4{)
Denmark: * ini
Coinage of 1907, 1908, and 1909 . gj
Monetary statistics of . 35
Denver mint, operations of . 10
Deposits and purchases of silver . - . 9
Deposits of foreign gold bullion and coin . H
Deposits of foreign silver bullion and coin . 8
Deposits of gold . .
Deposits of gold and silver— 8
At mints and assay offices . 70
At mints and assay offices, tables of — — • • • • * . ” . 11
Deposits of gold at mints and assay offices since . . . 12
Deposits of silver, fine ounces, since 1885.. '
Disbursements, receipts, and balance of gold bullion. . 52
Mints and assay offices .
Distribution— . . . 59
Of gold and silver, by States and Territories .
Dominican Republic: ljy
_ Monetary statistics of . ini
Dutch East Indies: }n9
Coinage of, 1907, 1908, and 190° and . . 1U
Production of gold and silver in 1907, 1908,
Dutch Guiana:
Monetary statistics of . - . . * ; ■ . .
Production of gold in 1907, 1908, and IS
_ . E- .19
tamings and expenditures— 18
Of Government refineries..^ . . * * 84
Of mints and assay offices . .
Table of . 102
^B^.production of 907. 1®09. ; ; ; ; I ; ; ; . Kg
Dutb! p3tioi W ^“uter, W. “d . . ... W
Ecuador: . ... 102
„ . ;;; . »
Egypt: 6 . . .
Coinage of, . . iin' ~ . 60
Estimated stock in United States “d percaP,t of United S>t»t«-
Estimate of Director, of gold and silver prou
282
INDEX.
Exchange of gold bare for gold coins .
Expenditures, classified statement of .
Exports and imports:
Exports, net, of U. S. gold coin since 1870 .
Gold and silver bullion and coin, tables of .
F.
Finland:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of .
Foreign coins of certain countries, melted .
Foreign coins, value of .
Foreign countries, monetary statistics of .
France:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of .
Production of gold and silver, 1907, 1908, and 1909
Freight charges on bullion and coin shipments .
French Guiana:
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
Georgia:
G.
Production of, in 1909, estimate of Director .
German East Africa:
Coinage of, 1907, 1908, and 1909 .
Germany:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of . .
Production of gold and silver, 1907, 1908, and 1909. . . .
Gold:
Average price in London since 1870 .
Bars exchanged for gold coin .
Bare manufactured at mints and assay offices, table of . ! . . . .
Bullion deposited at mints and assay offices . ’ _
Bullion and coin deposited at mints* and assay offices Bince 1873.
Bullion, redeposits of .
Bullion, stock of, in United States June 30, 1910. ] .’ .* .* .’ .' .' .* ' .* .*
Coin of United States melted by certain countries .
Coin, United States, net exports of, since 1870 .
Coin of United States in Canada .
Coinage of mints of the world since 1873 .
Coinage of mints of the United States . * *
Coinage of the United States since 1873 (weight and value). . ! ! '
Coinage of mints of United States from thei reorganization (1792).
Deposits at mints and assay offices since 1873 .
Deposits at mints and assay offices, table of .
Deposits, foreign . ]”**”
Imports and exports, United States coin, since 1870. * .
Movement from the port of New York .
Product of mines by States and Territories, 1909 . . .
Product of mines of United States since 1792 . ’ * ’
Product of the world, 1907, 1908, and 1909 . ’ . .
Used for industrial purposes in United States. ....!" ! . . . .
Used for industrial purposes in United States since 1880.7. . .
Used for industrial purposes in the world . .
Gold and silver:
Approximate distribution by States and Territories.
Bullion in mints June 30, 1910 .
Coinage by nations, 1907, 1908, and 1909, tables of. ... . 7. .
Coinage of United States (weight and value) since 1873 .
Coinage of the world (weight and value) since 1873
Estimated stock of, since 1873 .
Ingots made and condemned . --!!!!!!!!]
Product of the world (weight and value) since 1493
Used in industrial arts in United States since 1880.".'.*. 77777
Page.
59
20
54
86
101
175
61
63
66
101
177
102
53
160
102
101
101
179
102
98
59
76
8
11
9, 10
54
61
54
56
60
12
14
110
11
70
9
54
53
59
99
102
56
58
56
59
55
101
60
61
56
47
105
56
INDEX.
283
Page.
Gold Coast Colony:
Monetary statistics of .
Gold certificates against bullion .
Government refineries:
Earnings and expenditures of .
Work of . * * * ’ [^
Great Britain :
Coinage of, 1907, 1908, and 1909 .
Imports and exports of gold and silver bullion and coin
Production of gold and silver, 1907, 1908, and 1909 .
Greece:
Monetary statistics of .
Production of silver, 1907, 1908, and 1909 .
Guatemala:
Monetary statistics of .
Guiana (British):
Coinage of, 1908 and 1909 .
Monetary statistics of . . .
Production of gold, 1907, 1908, and 1909 .
Guiana (Dutch):
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
Guiana (French):
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
253
7
19
16
101
185
102
189
102
131
101
158
102
159
102
160
102
H.
Haiti:
Monetary statistics of .
Helena assay office, operations of .
Highest, lowest, and average price of silver
Honduras:
Coinage of, 1907 .
Monetary statistics of . - .
Hongkong:
Coinage of, 1908 and 1909 .
Monetary statistics of .
Production of precious metals, 1907, i908, and 1909 .
140
44
17
101
132
101
217
166
102
I.
Idalproduction of gold and silver, 1909, estimate of director . 60
IlllDproduction of gold and silver, 1909, estimate of director . 60
Imports and exports: qq
uold and silver, table of . . .
Of United States gold com since 1870 . M
Indl?!oiTmpoof,' 1907, 1908, and 1909 . 223
p^Snction^fgoW,’ 1907 j 1908, and i909 . 102
Ind' Coinage of, 1907, 1908, and 1909.. y . ^ . }®£
Production of gold, 1907, 1908, and 1909 . 102
^'consumption of gold and silver in, in the world . 59
Gold and silver used in, in United States. . . - . . *-**-*; -
Ingots, gold and silver, made and condemned and percentage of com produced . 47
Interrogatories sent to foreign countries .
^Coinage of, 1907, 1908, and 1909 . jgg
ProTiiction^fgold and silver, ifH)7, 1908, and 1909 . 102
284
INDEX.
J.
Japan: Pa«<*
Coinage of, 1907, 1908, and 1909 . 101
Monetary statistics of . 235
Production of gold and silver, 1907, 1908, and 1909 . 102
K.
Kongo:
Monetary statistics of . 254
Korea:
Coinage of, 1907, 1908, and 1909 . 101
Production of gold, 1907, 1908, and 1909 . 102
L.
Laboratory, Bureau of the Mintj work of . 21
Legal allowance, bullion operations . 46
Liabilities and assets, mints and assay offices, June 30, 1910 . 82
Location of moneys of United States June 30, 1910 . 55
Loss of legal allowance, percentage of . 46
Loss on sade of sweeps and wastage . 50
M.
Madagascar:
Monetary statistics of .
Market price for silver . . .
Metal operated upon, wastage and loss .
Metallic stock of United States .
Metallic stock, United States ownership of .
Mexico:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics .
Production of gold and silver, 1907, 1908, and 1909 .
Michigan, production of 1909, estimate of director .
Minor assay offices . .
Minor coinage of the United States . .
Minor coins issued, remelted, and outstanding .
Mint of the United States at:
Denver, operations of .
New Orleans, operations of .
Philadelphia, operations of .
San Francisco, operations of . . .
Mints and assay offices, earnings and expenditures of .
Missouri, production oi 1909, estimate of director .
Monetary :
Legislation . . .
Statistics of foreign countries .
Money in the United States, stock of .
Moneys:
Of the United States, metallic and paper, location of .
Montana, production of 1909, estimate oi director .
Montenegro:
Coinage of, 1901. .
Monetary statistics of .
Morocco:
Monetary statistics of .
Monetary systems and stock of money .
Movement oi gold from port of New York .
Mutilated and uncurrent domestic coins transferred and purchased for recoinage.
Mutilated and uncurrent silver dollars purchased and used in subsidiary silver
coinage .
257
17
46
54
54
101
127
102
60
6
24,34
25
35
42
23
31
18
60
65
66
54
54
60
101
258
192 .
106
53
13
13
N.
Natal:
Monetary statistics of .
Net exports United States gold coin .
Netherlands:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of .
259
54
101
193
INDEX.
285
Page.
Nevada, production of 1909. estimate of Director . ,S?
Newfoundland, coinage of 1907, 1908, and 1909. . . .
New Hampshire, production of 1909, estimate of Director .
New Mexico, production of 1909, estimate of Director . ™
New Orleans mint idle . . . 42
New Orleans mint, operations of.... . 39
New York assay office, operations of . 268
New Zealand monetary statistics .
Nicaragua: . . . 136
Monetary statistics of . . . 122
North America, monetary statistics of....----------*-; * . 60
North Carolina, production of 1909, estimate of Directo .
NOncaomage of, 1907, 1908, and 1909 . *
Monetary statistics of . - - - • • . . 102
Production of silver, 1907 , 1908, , and . . . . - • . 56
Notes of United States outstanding June 30, 1910 .
O.
Oman: . .
Operations of 5he “d‘ ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; : : : : ; : : «
. :::::::::::::::::::: S
Ownership of metallic stock of money .
P.
8
Percentage of loss in melting deposits . ^
PCI8Coinage of, 1909 . 1M
*
Philadelphia mint, operations of . u
Coinage for of Director . 60
PortT"^n’o?ll»09, estimate of Director . ^
PortcSJ.age of, 1907, 1908, and 1909 . • - . t»
. Monetary statistics of . * . 21
|I^infee^^“> . . 102
S ISIS; . *
S united . ISs
iS the world sinwWdiscovery of !««»;;;; ; " ' .' I !! i i . . «
In the world since 1860 . . . .
purchase of silver .
Q' 269
_ ^nqland monetary statistics . Y.V.Y. . 46
Quantity of metal operated upon .
R.
p^olnago of Philippine coma .
286
INDEX.
Recoinage of standard silver dollars since 1883 .
Recoinage of uncurrent subsidiary silver .
Recoinage of the world .
Redeposits of silver .
Reduction in coinage operations . ”
Refineries, Government, work of .
Refineries, earnings and expenditures of . ] . ' * .
Roumania:
Coinage of, 1908 .
Russia:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of .
Production of gold and silver, 1907, 1908, and 1909. .. '. /. .
S.
St. Louis, aa&y office, operations of .
Salt Lake City, assay office, operations of .
San Francisco mint, operations of .
San Salvador:
Coinage of 1909 .
Monetary statistics of . ”
Sarawak, coinage of, 1907 .
Seattle assav office, operations of.
Servia: .
Monetary statistics of .
Production of gold, 1907, 1908, and i909 . .
Siam:
Coinage of, 1907, 1908, and 1909 .
Monetary statistics of . •. * .
Production of gold, 1907, 1908, and 1909........]*]!! .
Silver and gold:
Bullion in mints .
Coinage of the United States .
Coinage of the United States since 1873 (weight and value)
Coinage of the United States since organization of mint.
Coinage of the world .
Deposits and purchases of.. .
Production in the United States? since 1792.
Production in the world .
Used in industrial arts in the United States! ! .......
Used in industrial arts in the world ....
Silver coinage by the United States for Philippines.' .
Silver: *
Average price of . \ .
Bars furnished for use in the arts .
Bullion, balance on hand June 30, 19l6! ! ! !!!!!!!!! i
Bullion on which charges were collected .
Bullion deposited at mmts and assav offices .
Bullion, highest, lowest, and average price of _
Bullion in mints and assay offices June 30, 1910 . ! ] . . !
Bullion, value of a fine ounce .
Coinage by the United States for Philippines. ...!!!
Coinage of the United States .
Course of . .
Deposits of .
Deposits of, since 1S85, fine ounces . .
Dollars, annual average value since 1837. . ...!!!!!!! .
Dollars, recoinage of, since 1883 . * . .
Highest, lowest, and average price of . .
Price of .
Product of the United States _ I!!!.!!!!!!.”!!!!!!.”.....
Purchases for subsidiary' coin, cost of . * .
Used in industrial arts in the United States.. .*.7.7. .
Used in industrial arts in the world .
South Africa:
Monetary statistics of .
Page.
13
13
62
10
6
16
19
101
101
199
102
44
46
31
101
133
101
45
204
102
101
240
102
56
12
14
110
60
8
99
102
56
59
14
17
56
54
16
11
17
54
17
14
12
17
10
12
9S
13
17
17
59
16
56
59
261
INDEX.
287
Page.
South America:
Monetary statistics of . - * 142
South Australia, monetary statistics of. . . . . 271
South Carolina, production of, 1909, estimate of Director . 60
South Dakota, production of, 1909, estimate of Director . 60
SPain: , ons
Monetary statistics of .
Production, silver, in 1907, 1908, and 1909 . . 102
Standard silver dollars, recoinage of . 13
Statistics of foreign countries .
St. Louis assay office, operations of . - • - ■ • * * - * : - - - • - • - . T:
Stock and location of the metallic and paper money of the united States . M
Stock —
Bank of France . - . . . . ; - . rR
Of gold and silver in the United States since 1873 . ™
Of money in the United States . M
Straits Settlements: 101
Coinage of 1907, 1908, and 1909 . ^
Monetary statistics of- . 18
Subsidiary coin, cost of silver purchased for. .
Summary of operations, mints and assay offices . ^
Sweeps, sales of and loss on .
Sweden: AAn , . 101
Coinage of 1907, 1908, and 1909 . . . * . 207
KtTon^goW and silver, " 1907, i908, and i-JOs! ! '. i 1 1 '• '• '■ ^ '• «»
^'coinage of, 1907, 1908, and 1909 .
Monetary statistics of .
T.
Tables: liabilities mints and assay offices, June 30, 1910 . 32
i“pricobof a,rouTo of gold inUdon since 1870 . . »
Coinage of various countries, 1907, 1J0K, ana unw . 70,72
Deposits of gold . 74,76
Deposits of silver..... . 84
Earnings and expenditures . 96
M/inptiirv statistics of foreign countries. ; - . . 106
reduction of gold and silver m the wor d since 1493 .
Production of gold and silver in the world once go
Recoinages of the United States . . . • •• * \* * * : a . 96
Recapitulation of imports of bullion and com, 1910 . . 97
Seigniorage on silver coinage. - - . . 80
ValuToTa sflver cioUur° annually since . ~ " 272
5£E S, p^tLfotS? ^birecter:::::: . --- *>
TexS prXction of, 1909, estimate of Director .
Transvaal: . . 261
Monetary statistics of- - - • - • y . . 101
Tuni». coinage of, 1907, 1908, and 1909 .
TurlCoinago of, 1907, 1908, and 1909 . 210
ProducSon'of gold »d «« l*" ! i I i 1 . 102
288
INDEX.
U.
Uncurrent coins for recoinage .
Uncurrent coins for recoinage, table of . ’ '
United Kingdom:
Coinage of, 1907, 1908, and 1909 .
Imports and exports of gold and silver bullion and coin.
Production of gold and silver, 1907, 1908, and 1909. . .
United States: ,
Coinage of, fiscal year .
Coinage of, 1907, 1908, and 1909 .
Coinage of, since 1873 . _ "
Coinage since organization of mint .
Gold coin in Canada .
Gold coin melted by certain countries .
Industrial consumption . * \ ’
Money, metallic and paper, location of, June 30, 1910.. .
Production, 1909 .
Production of gold and silver since 1792 .
Production of gold and silver, 1907, 1908, and 1909 .
Stock of money in, June 30, 1910 .
Stock of gold and silver in, since 1873 .
Use of gold and silver in the industrial arts .
Uruguay:
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
Utah, production of, 1909, estimate of Director .
V.
Value of foreign coins .
Value of pure silver in a silver dollar annually since i837....
Venezuela:
Monetary statistics of .
Production of gold, 1907, 1908, and 1909 .
Victoria, monetary' statistics of .
Virginia, production of, 1909, estimate of Director .
Volume of coinage .
Page.
13
80
101
185
102
12
101
14
110
56
61
56
54
59
99
102
54
56
56
161
102
60
63
98
162
102
273
60
5
W.
Washington, production of, 1909, estimate of Director .
Wastage on bullion operations .
Wastage and loss on sale of sweeps and gains from operations.
Western Australia, monetary statistics of .
World, coinage of .
Coinage of, since 1873 . .
Coinage of, 1907, 1908, and 1909 .
Industrial consumption, cold and silver of .
Production of gold and silver of, in 1907, 1908, and 1909.
Production of gold and silver since 1493, table of .
Production of gold and silver since 1860 . .
Recoinages of . . .
Work of government refineries .
Wyoming, production of, 1909, estimate of Director .
Zanzibar:
Monetary statistics.
Z.
60
46
46,50
277
60
60, 101
101
59
102
105
100
62
16
60
262
o
Treasury Defaetmext.
Document No. 2568.
Director of the Mint.
CONTES T S .
REPORT.
Deposits of gold bullion — .
Deposits and purchases of silver . . . » .
Recapitulation of gold and silver deposits .
Deposits of gold since 1873 .
Deposits of silver since 1885 .
New design for one-cent piece .
Coinage of the United States .
Recoinage of standard silver dollars .
Recoinase of uncurrent silver coin . . .
Coinage of the United States, weight and value since 1873 .
Coinage for the Philippine Government .
Recoinage of Philippine coins. . - .
Weight and fineness of Philippine coins .
Coinage for San Salvador .
Bars manufactured .
Work of government refineries .
Purchases of silver . . .
Balances of silver bullion .
The course of silver .
Distribution of silver dollars .
Seigniorage on silver coinage .
Earnings and expenditures, mints and assay offices .
Appropriations and expenditures — .
Earnings and expenditures of refineries . - . .
Appropriations and expenditures of the office of the Director of the Mint, fiscal
year 1909 .
Classified statement of expenditures .
Laboratory of the Bureau of the Mint. .
The assay and valuation of gold bullion .
Proceedings of the assay commission, calendar year 1908 .
Operations of the mints of the United States .
Operations of the assay office at New York . .
Operations of the minor assay offices of the United States .
Summary of operations . * — • . • - * - .
Bullion operations, legal allowance, and wastage, fiscal year 1909 .
Ingots made and coin condemned . . . *. .
Wastage and loss on sale of sweeps and gains from operations .
Receipts and disposition of gold bullion, 1909 .
Balances, receipts, and disbursements .
Cost of maintenance. . . - .
Freight charges on bullion and coin .
Movement of gold from port of New York .
Net exports United States gold coin .
Stock of money in the United States . - - - - - .
Stock of gold and silver in the United States since 1873 .
United States gold coin in Canada . . . . - - • - - - - - • - • y * v .
Gold and silver used in the industrial arts in the United States, iJOo .
Exchange of gold bars for gold coin and gold bullion. . . .
World’s industrial consumption of precious metals, 1908.. .
Production of gold and silver in the United States in 1908 .
World’s coinage, 1906, 1907, and 1908 . .... .
World’s coinage, by calendar years, since 1873 .
Foreign coins melted by certain countries . . . .
United States coins imported and melted by various countries . . .
Recoinages of the world .
Value of foreign coins. . . . . . .
Monetary statistics of foreign countries .
3
Page.
5
7
8
9
10
11
11
11
11
12
13
13
13
15
15
15
16
19
20
20
20
21
21
22
23
24
24
25
36
39
58
61
70
70
71
71
72
73
73
74
74
75
75
77
77
77
80
80
80
81
82
82
83
83
84
86
4
CONTENTS.
APPENDIX.
1. — Domestic production, deposits and purchases of gold, by weight .
2. — Domestic production, deposits and purchases of gold, by value .
3. — Domestic production, deposits and purchases of silver, by weight .
4. — Domestic production, deposits and purchases of silver, by value .
5. — Bars manufactured, by weight . ’ \
6. — Bare manufactured, by value . .
7. — Coinage, fiscal year 1909 .
8. — Uncurrent domestic coins, by denominations and face values, received
from the Treasury and purchased over the counter .
9. — Assets and liabilities, fiscal year 1909 . ’ ’ ” ”
10. — Earnings and expenditures, fiscal year 1909 .
11. — Imports of gold and silver, by customs districts . ! .
12. — 1 mports of gold and silver, by countries . ..!!!!!!!!..!!!.!"**
13. Exports of domestic gold and silver, by districts and countries .
lj-Exports of foreign gold and silver, by districts and countries . .
15. — Summary' of imports and exports . .
10- Transit and transshipment of gold and silver .
17. — Seigniorage on silver, fiscal year 1909 . . . . .
°*.an ounce of gold in London and equivalent vaiue in
19.— BuUion value of the silver dollar at the annual average price of silver from
91 ~pI^UCti0? °fi5ol^an-1 Pilv-er “ ** United States Vince 1*792,’ by years! ! !
21-Product of gold and silver in the world since 1860. ... * '
oo ~ ri?lIVSe of natl0?s* 1906, 1907, and 1908 . !!!!!!.* .
9?'~S°!4d 8 Prod action of gold and silver, 1906, 1907, and i 908 .
24‘ Pr^ues°n °f 801(1 an° 8ilVer m lhe World 8ince 1493’ tine ounces 'and
9fi'Zwlh!S*nt4f °* e^ndlt,irey’ mint8 an^ *®»y offices, for supplies, 1909
26' A ofheachycoLCOmmg' Cha“gee “ Be«ht and fincDess. and amount coined
0f ‘h« Stkt«; from organization of mini ".'.V.'. ! .
28. Monetary statistics of foreign countries . .
Page.
90
92
94
96
100
102
104
106
108
110
112
114
116
117
118
119
119
120
121
122
123
126
128
134
136
148
U E P O R T
OP THE
DIRECTOR OF THE MINT.
Treasury Department,
Bureau of the Mint,
December 14, 1909.
Sir: In compliance with the provisions of section 343, Revised
Statutes of the United States, the following report covering the oper¬
ations of the mints and assa}r offices of the United States during the
fiscal year ended June 30, 1909, being the thirty-seventh annual report
of the Director of the Mint, is respectfully submitted:
DEPOSITS OF GOLD BULLION.
The value of the gold contained in original deposits at the mints
and assay offices during the fiscal year 1909 was $142,124,941.59, and
the value of uncurrent domestic gold coin deposited was $3,432,288.62,
making a total of $145,557,230.21.
The redeposits during the year, consisting of bullion transferred
from one office to another and bars bearing the stamp of one of the
mints or assay ‘offices, which had been paid out, amounted to $46,757,-
462. The total value of gold bullion and uncurrent domestic and for¬
eign coin received, including redeposits, amounted to $192,314,693.
Domestic bullion deposited contained 6,435,350 standard ounces, of
which 2,691,889 standard ounces were crude bullion requiring parting
and refining. There were contained in refiner}' bars (less than 0.992
in fineness) 641,690 standard ounces, and 3,101,771 standard ounces
of refined bullion (0.992 and over in fineness). The latter was received
from private refineries, chlorination and cyanide works.
UNCURRENT DOMESTIC GOLD COIN FOR RECOINAGE.
Uncurrent and mutilated United States gold coin containing
184,486 standard ounces was received for recoinage, the coining value
of which in new coin was $3,432,288.62. Of this amount 69,735
standard ounces were purchased over the counter at the different
mints and assay offices, and 1 14,751 standard ounces were contained
in coin transferred by the Treasury for recoinage. The difference
between the face value of the mutilated and uncurrent gold com
received during the year and the value of the same in new coin was
$26,049.38, which sum represents the loss on recoinage.
DEPOSITS OP JEWELERS’ BARS.
Jewelers’ bars and old plate containing 2S4,814 standard ounces of
the value of $5,298,857 were received.
5
6
BEPOBT DIBECTOB OF MINT.
REDEPOSIT6 or GOLD BULLION.
The redeposits contained 2,513,214 standard ounces of gold of the
TSMW#2' % bars «PW»nting 2,399 standard ounces
unParted bars repenting 2,510,815 standard ounces
($46,/ 12,828), as follows:
rhllariat-
Nnr York.
ClSCO-
I'blladelphla _
Carson .
5l. Looi>. ...
^ **9* «r Stand, an
DEPOSITS of foreign gold billion and coin.
vJuTofsitf.i^.l'0" 7“l“'!li"C S81.15- et.nd.rd o(
^ «;cSTtLKicd./«r.S rn »5S z.nl *
°r . . . ^Tyuaigjigi^
British CoMimMa
Northwest Tcrritorv .
Ontario and Que! «*'.
Nova Scotia. .
Ifoxtoo .
West Indies ...
Central \m*rlra. .
Wouth A merit a
Australia . . .
Cn^now n . .
Austria...
Omal Britain
Russia
Spain .
Total .
Crude Bullion.
Standard
ount'es
Refined bullion.
Coin.
£1, 153
*,476
1,137
12.511
.v>,y«
1.530
M,W?
1»,5»
II
VI
1851,055
l.TSU.O®
20.067
252,7®
1.U5K
2*>3;
IW1.2V)
2. 35*, 427
204
724
Standard
ounce*
Value.
Standard
ounces.
Valor.
18,255
*538,213
.
JU9
410, iw
5,7«.
7,531,517
731
fis.mo
14
2M
3.827
S7
®, 780
71,100
1.018
740.au
:: • -
5 47X
44
25
116
4; 500
120,530
K18
481
2, 158
►3.SS8
42P, 772
7,005, 700
55.508
1,034,378
5,005.7® t!P, 772 T
BEPOBT DIRECTOB OF MINT.
7
DEPOSITS AND PURCHASES OF SILVER.
The deposits of silver received at the mints and assay offices during
the fiscal year ended June 30, 1909, for return to depositors in fine or
unparted oars, with the weight and fineness stamped thereon, aggre¬
gated 3,597,155.34 standard ounces. The United States assay office
at New York received the greater part of these deposits.
The government of the Philippine Islands deposited at the United
States mint, San Francisco, silver coin issued under the act of March 3,
1903, containing 8,127,302.80 standard ounces, for recoinage into
coins of reduced weight and fineness, as authorized by the act of
June 23, 1906.
The Government of San Salvador deposited for coinage at the mint,
San Francisco, 557,148.53 standard ounces of silver.
The purchases and deposits of silver bullion at the mints and assay
offices of the United States during the fiscal year 1909 were as
follows :
Hem
Standard
ounces.
Silver purchased -
Silver ported from gold dejKwlu and purchased
Uncurrent domestic coin for racoinage .
For return In fine » are .
For Philippine coinage .
For Son Salvador coinage .
4,141,124.62
2.738,529.43
729,971. (M
3,587,155.34
b, 127, 302. SO
o57.14S.53
Total. . .
19,992 231.76
UNCURRENT DOMESTIC SILVER COINS FOR RECOINAGE.
Uncurrent and mutilated domestic silver coins received for rccoin-
age contained 733,261 standard ounces of the value of $912,300 in
new subsidiary coin. The net loss on this recoinuge was $65,018.
Jewelers’ bars and old plate containing 556,693 standard ounces
were deposited.
REDEPOSIT8 OF SILVER BULLION.
The redeposits contained 3,261,789 standard ounces of silver-
line bars representing 253,349 standard ounces, imparted barai repre¬
senting 2,152,546 standard ounces, and mint bars repiesentin^
855,894 standard ounces as follows:
Unparted bars deposited at—
Bar* manufactured al—
Thila-
dolphin
Sun Fran¬
cisco.
Denver New York.
Helena.
Seattle.
Stand, or
Stand, or
Stand, or. Stand, oz.
Stand, or.
Stand, or.
New Orleans
New York .
1,763,302
45,185
Boise .
Helen »
30.335
46,687
. ii 1
Charlotte .
St. Louis . .
Dead wood . .
Seattle.
Salt Lake City ...
Total . —
tK.608
3,015
. 2
'$>23 .
-
] , 940, i 89
48.200
163. W7 w
n
2
8
REPORT DIRECTOR OF MINT.
Flu* bars deposited at—
Bars manufactured at—
Mint bars
deposits!
st Phila-
dSlphU. New York- delpfcViT
Philadelphia .
Near Orleans .
New York . . “
Total . . .
Stanl. ay. StmnJ os Si* ad at
29, 174 .
_ 1T?'.Q37 ' ' 52.138'
]^,U37 SI. 312 815. S84
DEPOSITS OF FOREIGN SILVER BULLION AND SILVER COIN.
boreign silver bullion containing 2,58.5,411 standard ounces of
i'* I*6 °f ?3,0?8;478’ ?n<1 foreign silver coin containing
value of S2S’337 wer" r°ceived =
Refined
Source.
British Columbia.
Standard
ounces
Yahas
Nova Scotia..
Meatco..
West Indies ....
Central America. .
South Ai
Spain...
I n inown.
Total.
*<K»l
Unrefined
Lv.'ao
10.240
73,119
1.127
1.346,324 ;
19! ■
«.«*
1. 777, 010
*11.914
26,9*?
347,49*
1.312
1.VK.M0
22?
42. 4W
30,799
*.0*7.793
IV.SS9
6
*37
4.217
34. JS?
S3>
2L'.Sii
7
5X2
4 907
2S, »7
zstssks ->
Fiscal Year 1909. unless or the l sited States Ddriko the
Standard
Locality.
Alabama..
Alaska . 130. M3
ArUooa . . 970, 5U 3x2
California. . .. 37.201 to#
Colorado . . 3l7.3iS.J42
Geoqcla . . 157 244
Idaho . 1,454.821
Micbi«an. ;;;;; . «,«A4s:
Missouri... .
Montana... .902
Narada. . 103.419. 439
New Mexico **,371.340
North Carolina. AS4S.972
Oklahoma . 2.665.077
<>"e°n . 1184
South Carolina. . 2i.l4ili5
Sooth Dakota. .. ; . 1.358,417
T^masse, . . . . 581,653 474
Utah . . 3. 357
& . lU»
. *i as:
Silvar.
32. 43d 34
lS.9S4.4iiS
LOfio. 334.13
V 904.2sS. 42
^.151,7^.70
37,103.44
S14.S4A71
, ii«
1 . 92* . Dec* 04
3.512,885 2#
127. 794 si
*9. iv£ S3
22W
449.02A 14
_ 33,431.01
‘.lno.iiA xi
43.44
S3S.914 21
1,037. &2
31,00.23
1,43s. 10
7,779.57
958.93
1.151.29
Standard
ounces.
1.329.34
131.418. 43
JO. 41 A 91
71. 603. »
S15.91S.ll
2*5 94
25.547. 81
13.243 61
140. 49
5S.S31W
10K, 727 14
175,320117
442.(0
.11
5.972. 72
ITSlS)
195,534.32
32
9. 745. TO
A 31
564.51
7.39
142.73
14 44
A 14
Coinage
value
*1.547. 13
152,923.25
23,757.85
8*.S2asd
347.415 <9
»A19
29.751.42
17.741.29
163.71
64.962.26
124, MS. 84
AM. 006.92
31 A 35
.13
A WO. 08
AKOS
227.534 84
.38
11.341.43
9.6b
«8.21
K.90
168.08
1A S3
V 10
REPORT DIRECTOR OF MINT.
9
Recapitulation of Deposits and Purchases of Gold and Silver Bullion and
Coin at the Mints and Assay Offices of the United States During the
Fiscal Year 1909— Continued. u
Gold. Silver.
Locality.
-
Standard
ounces.
Coinage
value.
Standard
ounces.
Coinage
value.
Domestic bullion:
Unrefined . .
2,691,889.078
641,689.520
3, 101,771.497
$50,081,652.80
1 1 (IIX 4HQ fie,
1,134,399.70
89,691. 00
4,748,537.29
$1,320,028.71
104,367.70
5,525,57a 64
Refinery bars . .
Refined .
1 1 , yoo, tIW. UO
57,707,376.68
6,435,350.095
09,734.953
114,750.560
119,727,439. 13
1,297,394. 49
2,134,894.13
K QTO A07
6,949,967.05
3,712. 42
849,420.85
116. 42
Domestic coin:
Uncurrent . .
o, vf* | ojj. yy
Uncurrent, transferred .
3, 190. 37
7 29 971.04
Trade dollars .
100.05
Philippine assay coins .
6, 376* 77
7 420. 24
Philippine coins for recolnage .
8, 127,302.80
.80
1,777,010. 18
808,401.49
24,352 12
.556.692.58
20.854.88
984. 95
23.26
1.14
1527
9 15”! 225 07
Philippine purchase'. .
* ~!93
2,067,793 66
940,685.39
28,337.00
647,787.72
24,267. 49
1,146.10
27.06
1.33
17.77
Foreign bullion:
Crude . .
Refined .
Foreign coin . .
Jewelers' bars, old plate, etc .
Surplus bullion recovered . . .
Deposit melting-room grains .
Sweeps from—
Helena office .
Charlotte office .
Assayers’ remnants .
431,384. 686
429,772.069
55. 507, 797
284,813.571
1,460.625
758.329
26. 670
2.960
49. 060
8,025,761.60
7,995,759.42
1,034,377 62
5. 298,856.76
27, 174. 43
14,108.47
496.18
55.24
912.74
Total deposits .
7,823,701.384
115,557,230.21
18,027,905.69
20,977,926.50
Redenosits:
Fine bars . .
Unparwvl bars .
Mint bars .
2.402.551
2,510,811. IM4
44,633.78
46, 712,828. 55
253,349.12
2,152.546.09
855,894.08
294,806.25
2,504,780.80
905,949.47
Total redeposits .
2,513.213.595
46,757.462 33
3,261.789.29
3.795,536.61
Total . .
10,336,914 979
192,314,092.54
"IT, 289, 004. 98
247773^463, 1 1
Deposits op Gold at United States Mints and Assay Op pices since 1873.
r
Character of gold deposited.
Plead i , .
year Surplus bul-
ended ^ ... Uon, Plains.
’une30— Domestic Domestic Foreign Foreign cujn jewelers’
bullion. ooin. bullion. bars, old
plate, etc.
Total.
1873..
1874. .
1875.
1876. .
1877.
1878..
1879. .
1884.
1885.
1886.
1887..
1888..
1889. .
1890.
1891.
1892.
1893.
1894.
1895.
$28,868.
29,730
34,266.
37,590.
43,478,
48,075,
38,549,
33.821.
35.815.
31,298,
32,481
29,079
31,584
32, 456.
32.973,
32. m
31.440
30,474
31,555,
31.901,
33,286
38,696
44,371
,560.78
387. 82
, 124. 52
,529.39
, 103. 93
, 123. 76
705.S9
,705.40
,036.55
,311.97
,642.38
,590.33
,436.64
.493.64
1,027.41
i, 306. 59
L 778. 83
,900.25
i, 116. 85
1,540.11
1,167.94
1,951.40
,949.83
$27,116,948.27
6,275,367.29
1,714,311.50
417.947. 15
447,339.68
301,021.79
198.083. 17
209,328.82
440.776. 97
590,356.80
374, 129. 23
263.117.17
325.210.97
393.545.28
516,984.63
492,512.60
585,066 87
655.474,96
583.847. 16
557,967.86
792, 470. 43
2,093.615. 46
1.188.258.21
$420,
3.162,
739,
1.141,
1,931,
2,008.
1.069,
21,200.
i 37,771,
12,783
4,727
6.023.
I 11.221.
4,317.
22.571.
i 21,741,
2,130,
I 2,691,
4,054.
I 10,935
' 2,247,
15,614,
14,108.
107 44
519.92
439. GG
905. 76
163. 12
679.05
796.89
997. 23
472.26
807.04
143. 22
734.45
846. 45
068. 27
328.70
042.44
51n. 66
932. 29
822. N.
154. GO
730.78
118. 19
435. 74
$518,542. 14
9,313,882. 47
1,111.792.26
2,111,083.80
2.093.260.73
1,316.461.09
1,498.819.71
40, 426.559. 63
55,462,385.74
20.304.810.78
6.906.083.80
9. 095.4(jl. 45
7,893,217.77
5.673,565.04
9,806,512.28
14,596.885 03
4.447,475.99
5, 29S, 773. 93
8.256.303.80
14,040,187.70
6,293.296. 33
12.3S6.406.8l
2.278.614.07
plate’, etc.
$774,218.25 |
654,353.56
724.625.96
681.619.32
837.911.25
907.932.20
937.751.14
1.176. 51 5. 77
1,343.430. 93
1.770.166.30 j
1.858.107.42
1,864.700.26 '
1,869,363. 26
■ 2.069,077.00
2.206.219.85
2.9S8.750.90
3.526.597.31
3,542,013.83
4,035,710.15
3,636,603.68
3. 830. 176.02
3.118,42145
3.213,809-43
$57,704,385.88
49,142.511.06
38, 556, 293. 90
41,943,285.42
4S. 787. 778. 71
52.060.217.89
42. 254,150.80
98.835.0*16.85
130,833, 102.45
66.756.652.95
46,347,100.05
46,320.678.66
52.894.075.09
44.909.749.23
68,223.072. 87
72,225.497.56
42. 136.435.76
42,663,095.26
48,485.800.82
61. 131. 400-04
46,449.841.50
71. 909. 513. 31
65. 161,067.28
10 REPOBI DIRECTOR OF MIKT.
Deposits op Gold at United States Mists and Assay Offices since 1S73— Coo.
Character of fold deposited
Fiscal
*****
Foreign com.
IS* . S5S.91A.tS7.QQ
1«7 . 00. 6 IS. 239 77
18* . 60. SSI, LSI 57
1 S» . 76.X2-4S7.23
1900 . S7.4SS.SJ6l 23
19D1 . 92. 939.686.®
1902 . 94.G22.07&.®
lKB . 96.514.29S. L2
1904 . 87. 745. 636. 63
1905 . 101. 618, 315. X
1906 . 1Q3.S38l368l01
1907 . 114.217.462.44
1908 . 111,735.877.77
I»9 . 119.727,4®. 13
ToUl .2,067.3®. 415.*
tl.6X.0U6.5S
1.015.114.®
1. IS7 .Q82.W
1.158. 307. 57
1.389.096.68
1 116. IX- 86
1, <88.446. 16
ft® . 907 95
2. 159. SIS. 57
3,404.986.63
1,514. 291. 19
2.754. 2SX 29
:• >■* 772. v*'
3, 432. 2S&. 62
$6 572.38a 14
9.371.521.®
36.477.370 06
30.X*. 559 47
22. 730. 15a 22
27,189.659.1*
IS 189 IK 90
16.331 068.92
17, 645. 536. S2
M. 317. 864 X
X, 656. 545. S3
71.774.35a SI
16.021.521.02
S3. 227. 409. 06
13. LSS .0L3.S6
47. 210, 077. 84
32.785. 152.4s
LS.S34.496.53
27.W6.4S8 13
U 996. 162 21
6,960 585.28
46 152.7SL87
15.141. 67Sl«
6. 648.511.63
17.221.251.40
1X864 .436 46
case 377.®
Surplus bal- T(W^,
Uoa.crmhn. ToUi
)e waters
bars, old
pkte. etc
0.388.622 06
2 810.24S.Gb
2, S*. 941. 37
2 964.663. W
3. 517 540 93
X 968. 656.64
4. >4 .724. 22
4.247.582 64
4 . >*2.936 88
4 7H0 556.31
5.731.111 55
6,231.547 01
5.341 60X82
168. 7®. 38X81
87.000. 337. 71
147.883, 194 S3
14X 497. 19U 66
133, SUO. 119. 59
15X 131.0*1 61
132. 5<K> S» S8
127.004 44291
177.75X384 34
14X 378.989 86
13X189.433.52
178,580.654 53
397. 415.974 X
145.557.mil
73.7SI 046. 60 577.08292234 507 301 ‘06 80 108.2*3,571-24 X 333, 711, 782 74
Deposits of Silver at United States Mints and Assay Offices since 1885
Character of sflver deposited.
Fiscal year ended
June 30—
Fme ommen.
J®?- . 24 943.394
}£*! . 25, 101, G®
1* . - . X.«21.b®
J2 ». 80b. 387
}?° X. 187. 135
J®1. 50-667.116
>•*■■■• . 56.97 6.0*2
15.2fcS.815
188^.. G.H08.6A,
1896 . . . . 4.420 770
!»• . 3.914.963
*25 . 2,116.690
2? . 4.977.9>
21- 2,406 748
1902.. 1 125,00
12.S23.6J0
i** 9 991. 1ST
. 4.923.655
}** . 2. 398, S71
. 30.38S.lfi3
}**• 16.1U.V3
m . 5.375.3®
Total . . 450. 241.357
Surplus bol-
Taui
58.113.990 X 681.663 45.498.119
13.414. STD 608. 961 . 997
l \ac SU£? 2* S** «»o* Hawaiian coin
4 Includes 145.78* fine ounces Hawaiian coin
« Includes 6.901 tine ounces Philippine soectel mar ran v
. K1-K *-*g »"« «—■ jffEES .ST *“*T
* t ^ ^ ounces PMlippino special as^s rain*,
t Joc ud« 3.®-. (lne o ince* Hawa CeaST^ 7
f ?•«? ®ne ounces PhlUpptea special assay coins.
REPORT DIRECTOR OF MINT.
NEW DESIGN FOR THE ONE-CENT PIECE.
11
f JVi1!' ithe approval ofxth? Secretary of the Treasury the new design
for the bronze one-cent piece was adopted in April, 1909 On the
obverse the head of Lincoln appears instead of the Indian head which
this piece had borne since 1864.
0iIh<irfraVCr °f t,’c ™lnt ,at Philadelphia was instructed to prepare
an;l coinage of this piece was commenced in May. No coins
wore paid out until after the close of the -fiscal year. ‘A stock was
accumulated at the Philadelphia mint to enable that institution to be
m a position to fill orders promptly. The distribution of this piece
was commenced on August 2, 1909.
COINAGE OF THE UNITED STATES, FISCAL YEAR 1909.
The domestic coinage was as follows:
Gold .
Silver, subNidlarv. .
Nlckej, 5-n*nt pimvs ...
Bronte, 1-eent pieces. .
Total .
Denomination.
rteew. Value
10,655,469 ll(^, 180,092. 50
sa.S7i.2nn i 11,093,810.00
II .V-8,558 579.427.fl0
54. 662, 205 546,fi22.05
130, 277,522 120,390,953.35
Of the subsidiary coinage made during the year $1,407,000 were
from uncurrent domestic coin received for recomage and $9,686,810
from silver purchased under provisions of section 3526 of the Revised
Statutes.
MUTILATED STANDARD SILVER DOLLARS PURCHASED AND USED IN SUBSIDIARY SILVER
COINAGE.
There were purchased as bullion and melted at the mints and assay
offices 1,293 mutilated silver dollars during the fiscal year 1909,
which were for use in the manufacture of subsidiary silver coins.
Fiscal year.
Fiscal year.
1883 .
1884 .
1885. .
1886.
1887..
18HW
1889
1800 .
1891
1892
1893
MM
ivc.
ihoo. .
1807. .
1621
1. ssn
8,292
14.055
31.042
11,977
10>00
49.881
10. 500
15,05\
18.5MJ
2, <04
1,898
1M*.
IStlfl.
1900 .
1901 _ ..
1902 .
1903 .
1901.
1905 .
1906.
1007.. .
JflOS. .
1900
NTotal..
11.365
1.734
1.341
1,786
1.893
1,777
1.304
2,298
900
1.548
1.170
1,293
RECOINAGE OP UNCURRENT UNITED STATE8 COIN.
J he table following shows the face value of abraded subsidiary coin
transferred and purchased for recoinage, the amount of new coin
made therefrom, and the loss since 1891 .
12
REPORT DIRECTOR OF MINT.
_ _ Value of new
Fiscal year. Face value. produced.
' $010,046.60 $861,680.41
. . 7, 118,602.78 6, 937 . 886- 02
{2E . 7.184.472.17 6.924.753.06
552 . . ; . 4.361.761.36 4. 161, $20.73
|S£ . . 4,627.141 46 4. 377,26$. 40
. 3,197,908.50 3.048. 861.64
|m . '.. . 6,109.772.32 5.830.159.16
Si . "• i . 8,584.304.36 8.09S.4S5.18
}S5 . . . 5,361,070. 35 4,930.088.96
1901 . . 3, S32. 20. 69 3.613.021.59
1902 . . 3,333.437. 06 3.141.548.04
m . 3.008.747. 9S 2,829.800.71
1904 . . 2,828. 384. 90 2.656.104.21
1905**.“. 1.964.476.11 1.830.219.24
1906 . 1,414.963.90 1,322.834.27
1907 . . 1,142. 1 MOO 1,064.826.39
1908***1 . .*. . 1,162.082.06 1,086.00194
1900 . 977,321.23 012,300.40
Total . 74,638, 146. 07 71.028.710.92
S4S.306.2S
180.716.76
236.908.67
259,719.12
199.940.63
249.SS3.06
149. 136. S6
2W.613. 16
4ft5.S19.08
310.9sl.39
219.259. 10
191.SW.02
17S.fiS7.27
172,2*0.69
125.256.87
92.129.63
77.357.61
7<. .*«' 12
65,020. 83
3,009,426.15
The loss on the recoinage of $3,458,338 in worn and uncurrent gold
coins was $26,049.38 and the net loss on the recoinage of $912,300.40
in worn* and uncurrent silver coins was $65,018.05.
The Treasury was reimbursed $5,436.61 loss on uncurrent gold coin
transferred and $64,920.18 loss on uncurrent silver coin transferred
for recoimige from the appropriation for that purpose.
Coinage of Gold and Silver of the United States since 1873, by Fiscal Years.
Gold. S liver.
Flue ounces
Value.
Fine ounces
consumed.
Dollars coined.
Subsldlar)
coined.
1873 .
1,705 187
*35, 249.337.00
50, 443. non. 00
33,553.965. 00
18,178,963 00
44.07$. 199.00
52. 70\ 0*100
40,9*.. 912 00
56.157,735 00
78, 733. S&4. OH
89.413.447 00
35, 934..9JS.0U
27, 912, 824. 00
2,179,833
4,558,526
7,650,005
14,228,831
21, 239. V*)
21,623.702
21, 059.046
21,611,204
21,383.930
21 488.148
1877,150
3.588.900
5,087,500
6,132,050
9.162.900
19,951,510
27,227.500
27,933.750
27, 637,955
27, 772,075
*1,908,645. 50
2,394,701 39
4, 372, 80X. 00
12,904,452.50
19,387,035 00
8,339.311 50
382. 50
8,687.50
12,011.75
11,313 76
724,351. 15
673,457.80
331,407.65
1*-!. 442 95
1 099 652. 75
1874 .
1875 .
1876 .
1877 .
1878 .
2,554 151
1879 .
ISM) .
18SI .
1882 .
4,325 375
1883 .
22)306, 171
a! in! 119
28, 0UM# 930
1884 .
22) 22u) 702
1SSS .
24. 861 ) 123 00
34,077,380.00
*2, 29d)s27
Ay SS2
1886 .
23, 21 1 ,
1887 .
22,393,279.00
28,364,171.00
25,543,910. 00
2fi) 52s) 276
1888 .
26,331, jyu
<T3
1)417)422.25
721.686.40
802 020. 70
1889 .
Ct* "ffl' Wfi)
1890 .
22,021,748.00
2$) 4.10, 093
•r* kii
UD1 .
24.’ 172! 303. 00
35.506.0K7.00
30,03$, 1411 00
29, 498, 927
W «r>
2 039*218. 35
1892 . :
6 rAo' Kl 1 Ml
1893 . .
9) 353)787
? • Jr i
IF, taRlf *1 I* vU
7 217 ??0 90
1894 .
«) 474,913.00
43, 933, 475. U0
4)358)299
1
a tin V)
1895 .
ft) 810) 196
■ A. *
nfO*l. Iw. UV
R 1 1 1 4|XJ <n
1KM . .
5h) S7k) 490- 00
71 . 646, 705 00
8, 651 , 384
Oy 11 O, IW. W
1 Q1Q WIG on
1897 . .
*1*203 “*01
1 104 fK> AR
1898 .
64, 634, 865. 00
■ 1, 1 » 1 , WV) tv
h 1V» will fiA
1899 .
106. 177. IHO. 00
1* •
10,002 780
G if/. CK
1900 .
107' 937, 110.00
464' 817
1H yvj
V, IWl, OH. tid
1 0 CV. cin 1 A
1901 . .
99! 065^71 A 00
61,980,572. 00
45, 721 773 00
26) 726, 641
*4 (», Mb. Id
in nri>. rju ca
1902 .
24 29H, H50
19 S00
vMV. jU
in “n a c
19U3 .
4 10, 5tW. 4o
1934 .
208,618,642 00
19, 705, 162
13 390 $04
in' ini' 1
8,023, 751. 25
1905 .
79, 9S.V, (tOi 00
lu, 1111 , »o u
310
7,719,231. 00
1906 .
53i002! 09 ?! 50
79.622.337.50
197,2148,377.50
1US, 180,092 50
0, 600, 068
2,905,340
9,385,454
11,957,734
8,024,984
9, 123,600. 60
4,016,368. 10
12.974.534.25
16.530. 477.25
11,093,810.00
1907 .
1038 .
1900 . . . ..
Total .
621 , 873, 125
607,259,120
209,628,107 84
REPORT DIRECTOR OF MTNT.
13
COINAGE FOR THE PHILIPPINE GOVERNMENT.
Owing to the advance in the price of silver bullion in 1905 and
1906, the bullion value of the silver contained in two Philippine
pesos and the subdivisions thereof, as authorized by the act of
March 2, 1903, was greater than that of one dollar in United States
gold coin.
For the purpose of preventing the melting and exportation of the
coins from the islands as a result of the appreciation in the price
of silver, Congress passed an act on June 23, 1906, authorizing the
government of the Philippine Islands to reduce the weight and
fineness of the coins as authorized under the act of March 2, 1903,
and to recoin the coins previously made. Under date of December
6, 1906, the Philippine Commission passed an act fixing the weight
and fineness of the Philippine coins.
The weight and fineness of the Philippine silver coins authorized
under the act of March 2, 1903, and of tne reduced weight and fine¬
ness authorized under the act of June 23, 1906, are as fmlows:
Denomination.
1*660 .
50 centavo,
an centavo.
lO.centavo.
Art of March 2, 1903 Vet of June 25. 1906.
Weijcht in
trains.
Fineness S
Weight in
era! ns.
Fineness
416.00
900
398.640
SOO
208.00
900
154 .320
750
83.10
•JOO
61.728
750
41.56
800
30.8M
750
The total Philippine coinage under the act of March 2, 1903, from
April, 1903, to December 31, 1906, was as follows:
Denomination.
Pesos, silver . . ,
50 centavo, silver . . .
20 centavo, silver .
10 oenta vo, silver.... . .
6 centavo, nlcVel .
I centavo, bronze . . .
Half centavo, bronze . .
Total .
Pieces.
Value.
PC9 0.
27,024.358
27, 024. m00
6,128.518
3,064.259.00
7,997. 76S
1 . 509, 563. 60
11,357.557
1, 135,755 70
9,999,884
499,994. 20
37,845.284
378,452.84
17,752,884
88,761.42
118,106.253 33,701.137.76
Silver con¬
sumed .
Pint ouncta.
21,078,999.24
2,390,122.02
1,246,152.22
884,824.67
25.600,088. 15
RECOINAGE OF PHILIPPINE COINS.
Under the act of Congress approved June 23, 1906, and the act of
the Philippine Commission dated December 6, 1906, providing for
the recoinage of Philippine silver coins issued under the act of
March 2, 1903, into coins of a reduced weight and fineness, there were
received at the mint, San Francisco, and melted for recoinage up to
June 30, 1909, the following:
Denomination.
Pieces.
22,862,873
4,815,000
4,490,500
5,829,000
425
50-centavo .
20-centavo . .
10-centavo . . . . . .
Mixed Philippine coins . . . . .
Total .
37,997,798
Fine ounces.
17,828,264. lo
1,875,136.87
697,283.64
452,346.16
149.85
20,853,180.68
14
BEPOET DIRECTOR OF MINT.
Of the coins manufactured for the Philippine government under
the act of March 2, 1903, there were remaining in the Philippine
Islands, June 30, 1909, the following coins:
Denomination.
Pieces. Value in pesos.
5d-oentavo .
JO-oenUvo.
10-oentavo
4,161,4s.'. 4,161, 4S5.00
1,313,518 656,759.00
3,507, J6S 701,453.60
5,528,557 5S2.S55.70
Total
14,510,828 6,072,553.30
The following coinage was executed during the fiscal year 1909 at
the United States Mint, San Francisco, for the Philippine govern¬
ment :
The total silver coinage to June 30, 1909, from coins received from
the Philippine Islands for recoinage and from bullion purchased for
such coinage was as follows:
Denomination.
Coined from new bul¬
lion, acts of March 2,
1903, and June 23,
1906.
Coined from Philippine
coins received for re-
coinage, act of June 23,
1906.
Total.
Pieces.
Fine ounces.
Pieces.
Fine ounces.
Pieces.
Fine ounces.
Pesos .
93,445
3,306.126
3,216,152
5,765,193
45,068. 11
36 1)6 000
18,563,214.40
506,362.50
263.790.75
194.346.75
36.219,445
5,406,126
5.951,152
9,795,193
18,631,282.51
1.3UQ.552.13
30-centavo .
aOoentavo .
797 ! 180. 63
310,197.86
278,026. 42
2! logout)
10-ceotavo .
<;030!000
573.98S. 61
472,373. 17
Total .
12,380,916
1,433,482.02
44,991,000
19,547.714.40
57,371,916
20,981,196.42
The total coinage including recoinage made for the Philippine gov-
^was^follows?0^ 8CtS °f March 2’ 1903> an^ June 23,
Silver:
Pesos. .
Denomination.
Made at United
Stales mint.
Philadelphia.
Made at United
States mint,
San Francisco.
Total-
60.436,944
7,217,000
7,330,080
50-centavo
20-oentavo .
10-centavo
. .
2,806,859
4,317,644
6,618.840
63.243,803
11.534,644
13.94S.920
Nickel:
5oentavo.
Bronze:
. .
6,618,839
10,000,384
14,533,911
21.152.750
10,000,384
41,770.396
17,753, 3S4
l -centavo
i -centavo
Total
37,845.784
17,753,384
<>3,924.612
93,442,547
179,404,281
0 Keco Inage of one-half centavo pieces.
REPORT DIRECTOR OF MINT.
15
COINAGE FOR SAN SALVADOR.
The mint at San Francisco coined for the Government of San
Salvador 693,170 silver peso pieces during the fiscal year 1909.
BARS MANUFACTURED.
During the fiscal year 1909 there were manufactured by the mints
and assay offices the following:
Description.
Gold bars...
Silver bars. .
Total..
Standard
Coining
ounces
value.
6,378,563.668 j
$98,205,831.04
0,537,088.21
7,719,063.04
105,925,494.08
WORK OF TIIE GOVERNMENT REFINERIES.
There were received and operated upon by the retine ries connected
with the coinage mints during the fiscal year 1909 gold and silver as
shown by the following table:
Gold. Sliver.
Mlut.
Standard
ounces.
Value.
Standard
ounces.
Coining
value.
Philadelphia. .
San Francisco .
New Orleans . . .
1,068.892.450
2,518.687.792
53. 934. 799
$31,049,161.97
46,859,307.75
1.003.438.12
38,009.223.35
3,149,873. 14
1,222,347.03
125.151.23
1.839.604.02
$3,665,306.92
1,422,367.45
145.630.52
2,140.630.83
Denver . ’. .
2,042.995.755
Total . .
6,284,510.802
116,921,131.19
0,336,970.02
7,373,935.72
SILVER BULLION ON WHICH CHAROES WERE MADE.
In order to show the amount of the above-mentioned silver bullion
treated by the government refineries on which charges were received
and the amount handled for parting purposes the following table is
presented :
Silver bullion
uint* on which
Mlnt~ charges were
collected.
Silver bullion
owned by the
Government 1
retained by
the refinery 1
for parting
punposcs on
which there
were no
charges.
Total.
Standard on.
Philadelphia . 2,578.437.07
San Francisco . 1 , 123,782. 05
New Orleans . 35,742.02
Denver.. . 001,793.50
Standard on.
571,436. 07
98,564.98
89,408.61
1,237,811.00
Standard on.
3,149,873.14
1,222, 347- 03
125,151.23
1.839,004.62
Total . 4,339,755.30
1,997,220.72
6,336,970.02
Note.— Refinery operations suspended at the assay office at New York during reconstruction of building.
16
REPORT DIRECTOR OF MIST.
PURCHASE OF SILVER.
The uble following shows the amount and cost of silver bullion
purchased for the subsidiary silver coinage during the fiscal vear 1909:
Stork of after bullion Standard
OQDCCs
PM^board^ttadg section 3S38> Revised Statutes, at the Tremor Dr-
* S S' a “* S» St 5
. *.««:» 1 S:SSi
UotiUtol raia» parcteed. . L. 3.?tROO
Surpi baiiwQ purdmed .
Total r - — — -
. . . j *,*7,ML»
mtat'lWr',1 Pi "CHASED FOB SCBSIMART COINAGE AT EACH MlNT
AND AT THE ASSAT OlTKt AT .\t» \ ORE HIRING THE FISCAL YEAR 1909
Institution
Standard
Mint at—
Philadelphia .
San Fraa bco .
NewOrieaas .
Denrer .
Assay ocBce at New York * .".
Total.
2,007 lto. «
23I.5J!L«
1.29.017.26
1.522.751.74 *
1.737, ISO. 21
*orj,28Lr
631. 1^4. SO
m.2n a
SCO. 419. 13
•.S50.6M.QS 3. 307.042. SO
QsZJ 1TBAV8,“ Pi .CHASE FOB SCB-
Tbrrefroh. and Seigniorage ox Sane oi^thr Fi^S. \Sr ^D“,TED
Obtained by transfer
Sources from wbkn bul-
lion was obtained.
Card in coinage.
Standard
Cost.
Standard
1.35, *».**:»
Men at raiuntLTHXA.
On hand July l. isos . . 6 177 *Sv 43*1 *-
t nrurrent coins trans- ,
lermj from Treasury
Purchase b«C>on trau^
lerml from Nem York
![ *u>t i
“*67*
1 l.TO.TOtf:
*.:» u
2.137 c'
pur-
5.S77.5&
l Total
79). isx 47 «3. TO. 3031. l«, QMi /»
^rhwd*8*7 CO‘as par‘ .
Mutilated' ‘rotas par.
Surplus bullion '
rbased.
l.V,97\ 01
W6.SI1»
3,705. 0D
9R8. 01
3. 198. JTm
, SSL’. TO. 47
Cast.
1.518 OtC 76j 3 3Sfi.ilC.0M2 .fi?a..V17 ?4
REPOBT DIRECTOR OF MINT.
17
Quantity and Cost of Silver Obtained by Transfer and Purchase for Sub¬
sidiary Silver Coinage, Amount and Cost Used in Coixaoe, Coinage Derived
Therefrom, and Seigniorage on Same during the Fiscal Year 1909— Con.
Sources from which bul¬
lion was obtained.
MINT AT PHILADELPHIA.—
Used in coinage, fiscal
Tear 1900
Silver purchsw bullion
transferred to New
York assay office
Sold in sweeps .
Wasted by operative
officers .
Balance on hand June
30 1009 .
Total. . .
MINT AT 3AN FRANCISCO.
On hand July 1 . 190ft
Uneurrent coin trans¬
ferred from Treasury
Purchased under section
352ft, Kevued Statutes
ol the United States,
at mint .
Partin**, charges, and
fractions purchased . .
Mutilated coins pur-
ObtaJne<l by transfer
and purchase.
Used In coinage.
Standard
ounces.
Standard
ounces.
Cost.
3,816, 614. 02*2,67* 602.7*
885. 393. SI 465,618.96
6. 17**. 62 3,258.80
Coinage. Seigniorage.
zoo is miij .
3, 130.07?. 12 2,084, 0R3- 79
. r
0, 847,770 43 ft, 131,24842 _
1.873. lot 64 wn.avs.02
3l,«7.75
*>.400.00..
Surplus bulUou pur¬
chased .
Total .
Uaed in coinage, fliral
year 1909
Vs&ay coins ( Philippine)
transferred to Phila¬
delphia —
Sold in sweeps -
Wasted by operative
olTlcers . . .
Balance on hand June
»>. 1908. . .
16.90 All
2ti.flBn.oj vn.m
.mssl 144.21
12,510.
1.23 ft, CO. 30
122,772 50
2,120.3)3.3* 1.134,204 71 422,772.50
422,772-50, 221,4ft© 35
6.7X> *5 3.040.5ft .
6.457 47 I.*n 40
9,301.13 4.S94.31
1. <9*3,954. 43 900, 510. 09
Total .
MINT AT NEW' ORLEANS.
On hand July 1, 1908 . .
Uncurrent coin trans¬
ferred from Treasury . .
Purchased under sec¬
tion 3520, Revised
Statutes of the United
9tates, by Treasury
Department .
Purchased under sec¬
tion .1526, Revised
Statutes of the United
States, at mint .
Partings, charges, and
fractions purrlmscd . . .
Mutilated coins pur-
2, 120, 30ft. & 1.134.2CL71 .
1,030,955.31 639.218.72 .
63,209.40 78,643.10 190,918.75
1 . . I.,
*221. 469.35 352ft. <00. 00 *304,53fl«5
221,460 ?5 536,000. 00 304,530. ftft
245,000.00 245,000.00
1,339,496.85 607.880.35
25,588.30 12,168.20
23,385.28 10,854.08
123.33 56-41
425.50 195.
2,189,656.13 1,045,193.80 2,724.300.00
*— * ^ 42S.S0 195. 70 J . _
Total . 2.483. 111. 97 ■ 4.0 OWI-ia 2 398.574-88 1.290.193 80 2.909.30000
1.679,106 20
1,679,106.20
19711—10 - 2
18
REPORT DIRECTOR OF MLST.
Quantity and Coot or Silver Obtained bt Teaxster avd Purchase am mtb-
CB^t <avt» Coin age. Amount axpOootUbep » Co&ifi*, Coikape Deettep
Therefrom. and Seigniorage on Same during the Fiscal Tear 1S0&-Ccki
U* dta
TT*ttsfcrTrdu>
ScSd^^n*
Bt
2 OTSTAfeSJ SUMP
ELM'-.
ROT. SB ICIlC .
LAE a*
MM.fi Mies
2.«SLUL«7 l.MP.0
—
OakftwUair I.HBR ... COTCRA S3ROTM.
2. MR, AT. R>*i . OT 2SR S *2. SSA OT 00 *i. TM. T7R T1
2. AIL 7317* L2X.T31 27
*•» . ROST 67A54 I.« OTSP
Tm*TT*d to Pbiteiel- “
-&**** . EOTOTM 1 4S7 S>
*• . B&.91C IL'.OK.t
iasr.sn.5* i.s
— — .
REPORT DIRECTOR OF MINT.
19
Quantity and Cost of Silver Obtained by Transfer and Purchase for Sub*
bidiary Silver Coinage, Amount and Cost Used in Coinage, Coinage Derived
Therefrom, and Seigniorage on Same during the Fiscal Year 1909— Con
Sources front which bul-
Obtained by transfer
and purchase.
Used in coinage.
Seigniorage.
lion was obtained
Standard .
ounces.
Standard
ounces. Cost-
Coinage.
SUMMARY.
On hand July l, 1908. ...
Un current coins trans¬
ferred from Treasury. .
Purchased under section
896, Revised Statutes
of the United States,
by Treasury Depart¬
ment .
10.576,793,44 $6,269,384.29
729.971.04 908.206.57
3,786,644.27 1.729,224.23
1. 130. 876. 25 $1 , 407. 000 00 $1 . 407, 000. 00
1 .
Pun- based under section
3526, Revised Statutes
of the United States,
at Mint .
Purchased bullion trans¬
ferred .
Partings, charges, and
fractions purchased. . . .
Melted assay coins pur¬
chased . .
Mutilated coins pur¬
chased .
Surplus bullion pur¬
chased .
900,227. S3
1.913,254.57
199,069. 63
955,628.16
2.762,638.50 1.322,947.28
6.740.14 3,708.00
2.505.82
21,608.70
1.201.55
11.192.11
r. 785. 773. 55 3,885,892.20 9, (586. 810. 00 $5. 800. 917. 80
Total . .
Used In coinage, fiscal
year 1908 .
Subsidiary sliver pur¬
chase bulliou trans¬
ferred .
Sold in sweeps .
Wasted by operative
officers .
Balance on hand June
90, 1909 .
Total .
20.100.673. 1011.341,161 S2 8,916,649.80 5,292.892.20 11.093.810.00 5.8OO.917.S0
8.916,049.80 5,292,892.20 .
3 683 433 08 1,819, 049. 89 .
’ 22 635-52 11 650 V0 .
12 150 26 6 212 30 .
7 465 804 44 4 211 $56 M .
20 100 673 1011 341 161.82 .
BALANCES OF SILVER BULLION.
The balances of silver bullion on hand June 30, 1909, at the mints
and assay offices of the United States for the coinage of subsidiary
silver coins, and also for coinage for the Philippine Islands, were as
follows :
Items.
Standard
ounces.
Cost.
... 7,492,044.11
$4,223,789.15
1,341,018.57
9.036,200.78 5,564,807.72
20
REPORT DIRECTOR OF MINT.
COURSE OF SILVER.
The London price of silver 0.925 fine (British standard) for the
twelve months ending June 30, 1909, ranged from 22d. to 24f£d., the
average price being 23.7024(1. At the lowest price the equivalent for
an ounce fine in the money of the United States was $0.48226; the
highest, $0.54528; and at the average price, $0.51958. At the lowest
price the bullion value of the standard silver dollar was $0,373; at
the highest price, $0.42174; and at the average price, $0.4186. The
montluy fluctuations are shown in the following table:
Highest, Lowk8T, and Average Price of Silver Bullion and Value of a Fine
Ounce Each Month during the Fiscal Year 1909.
Month.
Highest. Lowest.
Average
price per
ounce,
British
standard,
0.925 fine.
Equivalent
value of a
tine ounce
with ex¬
change at par
($4.8005).
Equivalent
Average value of a
i monthly fine ounce
price at based on aver-
New York age monthly
of exchange price and nver-
on London, age rate of
exchange.
Average
monthly
New York
price of
fine bar
silver.
1008.
July .
Pence.
%
Pence.
Pence.
04 rj oo
$0.53737
$-1.8896
4.8634
4.8639
4.8046
4.8008
4.8689
$0. 53771
. 52345
. 52301
.51970
$0. 53796
August .
231
23A
23A
22A
22
Si
*> t • DlOO
23 8943
23. 8725
23. 7199
September .
October .
November. . .
lift
IS
!
2*1 !
24j
.52331
.51996
. 50259
. 48806
.52303
. 51905
. 50915
. . 51971
.52302
.52360
.52050
December. .
.50212
.50320
1909.
January* .
on
.49330
.49399
February .
Jo. oQUU
4. 8731
. 52375
.52365
March.. .
O-J 1
23- 7057
tYt WU.
4.8730
52033
.52083
April .
ou ,
Jo JJO}
On
4.8800
.51057
.51092
May .
«n
•Jo. /too
24 3425
4. 8760
. 52070
.52057
June .
0-1 1 1
. 53361
4.8771
.53477
.53530
Aitl
24. 1058
.52974
4. 8794
.53115
.53543
Average ... .
.51958
4.8708
.52005
.52074
DISTRIBUTION OF SILVER DOLLARS.
I lie number of dollars on hand June 30, 1908 and 1909 and the
distribution from each mint during the year was as foUows:
Items.
Philadelphia. San Francisco. New Orleans.
Total.
In mints June 30, 1908
Total .
$106,850,900 $61,401,432 $29,581 825
$197,834,157
In mints June 30, 1909
DvearbUt0<1 fr°m mlnts during the
106,850.900 61,401 432 xi r.o, oor
106,693,920 VIZ’.™ SgiSS
197,834,157
197,670,007
15C'07< . | 7.170
164,150
SEIGNIORAGE ON SILVER COINAGE.
fiscal year ended J°me sV \v S*lver ('oills during the
the balance on Cud JulVT ^’TOl7'80’ which’ added to
$5,915,283.96 to be accounted for^fi ’-^6' 16‘_gives *
deposited in the Treasury was SSon^t '"i ye,.u‘- The amount
and June 30, 1909, of $1,596.82. ’ ' ' ’ ’ eavinS a balance on
REPORT DIRECTOR OF MINT.
21
Including the balance on hand at the mints, July 1, 1878, the net
seigniorage on silver coined from that date to June 30, 1909, was
$157,467,155.61.
The earpings, gains, and expenditures were as follows:
EARNINGS ANI) EXPENDITURES.
The earnings and gains of the mint service during the fiscal year
1909 were as follows:
Charges for parting and refining . .
Charges for alloy . . . .
Charges for assaying and stamping . .
Seigniorage on minor coinage . .
Seigniorage on subsidiary coinage .
Seigniorage on recoinage of minor coins . .
Profits on medals and proof coins . .
Charges received for mounting, etc., medal-fund account .
Charges for the manufacture of medals, etc . —
Deposit melting-room grains and sweepings ... .
Surplus bullion recovered by operative officers . .
Gain on bullion shipped to mint for coinage. .
Proceeds of sale of old material ... . . —
Receipts from special assays of bullion and ore - • - —
Receipt- for manufacturing appliances for government and other institutions. .
Charges received for coinage for Philippine government and Salvador .
Gain on light-weight United States gold coin for recoinage .
Remnants of bullion returned by the assaver . . . .
C’harges for treatment of deposit melting-room sweeps .
Total earnings and gains . . .
The expenditures were as follows:
. $290,176.82
16,725.87
33,848.02
843, 654. 47
. 5,800,917.80
3,324.34
4,764.51
392.87
8.255.47
32,634.76
34.829.99
3,334.04
913.65
3,397.00
4,037.36
181,442.09
250.71
919.92
41.35
. 7.263,861.04
Salaries of officers and clerks . . . .
Contingent expenses, less amount pal l to reimburse w astage and loss on sweeps sold ... • .
Parting and refining expenses. less amount paid to reimburse wastage and loss on sweeps sold.
Wastage of operative departments . . . .
Wastage of operative departments, minor coinage operations .
Expenses of distributing minor coins - .
Expenses of medal fund (charges paid, mounting, etc.) . . .
Loss on recoinage of minor coin . . . .
Loss on bullion shipped to mint for coinage .
Wastage Philippine minor coinage . . . . .
$220,017.52
983.916.44
227,413.84
247.275.08
23,833.52
1.372.81
9.263.95
2,831.66
385.50
10,666.69
244. G2
248.53
1,727,471.06
APPROPRIATIONS AND EXPENDITURES.
The net of >Iav 22, 1908, making appropriations for the legislative,
executive, and judicial expenses of the Government for the fiscal vear
1909 contained specific appropriations for the support of the mints
and nssav offices, amounting to $1,367,450. . .
The earnings of the several mints amounted to $192,680.35 ana
wore deposited in the Treasury to the credit of the appropriations for
“Wages of workmen’’ and “Contingent expenses of the respective
mints.
Of the appropriation mad.' for “New machinery and appliances,’* aunt at
Philadelphia, by the act of June 6. 11.00, there remained on hand at the
close of the fiscal year 1908 . - - - • - - - - • • • ■ ■•••*.• 1000 * ' 8 917 6°
Of this amount there has been expended during the fiscal year 1909 .
Leaving an unexpended balance Juue 30, 1909, of . h 145. 17
Leaving an unexpended balance June 30, 1909, of . 343.01
22
REPORT DIRECTOR OF MINT.
Appropriations and Expenditures, Fiscal Year 1909.
APPROPRIATIONS AND EARNINGS.
Institution.
Salaries.
Wages of
workmen.
Philadelphia .
San Francisco .
*43,550.00
41,100.00
27,300.00
1 39,100.00
o*408,623.13
6 '*£4 *17* 17
New Orleans .
u mV, «»4 O. •> 1
ft? win nri
Denver .
R-. nuu. uii
c i rj\ 1 in i*>
Carson .
i 6*000.00
• UW| JLI .I-
New York .
41.750.00
Q* (u Ml AA
Helena .
5! 4/50. 00
J«), IWU. IJU
Boise .
3 400.00
1 4 1 500. 00
Charlotte .
o 7rl\ fin
H, 300. 00
St. I/ouis .
— • 4 M. UU
1 , 080. 00
Deadwood .
3, 200 00
« ’ ^
Seattle .
O Wrvi
4. 000. 00
^expenses! ^ (salaries, wages, nud contingent
»• AW. w
32. 000.00
Total .
225,850.00
1,004.988.82
Contingent
expenses.
«*S7. 406.44
«* 107,942.71
30,000.00
e 50,022.38
2,000.00
12,500 00
4 , (MX). 00
3,750.00
920.00
750.00
2,000.00
8,000.00
309,291.53
$539,579.57
432.618.08
120,100.00
239,232. 70
12.000.00
89,250.00
23,950.00
15,450.00
4,750.00
4,750.00
9,200.00
49,250.00
20,000.00
1,500, 130.35
neous work. m,3CCUanCOns work for othcr ^^titutlons of mint senior: r^.^ othVr
t ^ f<*r other
EXPENDITURES.
Institution.
Philadelphia .
San Francisco. .
New Orleans .
Denver .
Carson . . .
New York .
Helena .
Boise . ’ '
Charlotte .
8t> Louis . . ’
Deadwood...
Seattle. . .
8alt Lake City. . .'
Total .
Salaries.
*43,550.00
40.231.42
27.2W.46
37,889.44
0,000.00
37,595.01
5.450.00
3,400.00
2.749.99
2.374.99
3, 190. 67
9,250.00
1 055.55
220.017.52
Original appropriations. . . .
Earnings during year .
Total available. .
Expenditures .
Philadelphia. San Francisco.
Wages of Contingent
workmen. expenses.
Parting and
refining.
| *401,405.07 *71.744.34
278,424.06 84.576.28
60,044.78 16.089.65
140,935.06 42.035.23
4. 488. 00 2.500.00
*74,508.00
78,084. 01
1,655.26
42,977.75
32.004.19 7.942.51
13,702 75 3,283.81
8,110.00 1,800.24
1,080.00 664. 30
61,365.77
763. \H 567. 12
3. 80.). 00 653.73
29,175.88 6,243.41
3.917.11 11.095.88
983,910.44 249,196.50
258,590. 79
-L
Denver.
W»r . Contio- Wjp, Contin- w««
workmen, expenses, workmen, exposes, workmen.
*400,000.00
8,023. 13
408,623. 13
401,405.07
Contin¬
gent
expenses.
j&g "jRgg teg h^sss i *“’<£•£
assess ms] “*=»
AOU M INTs'aN D AT OFFICE AT NEW “!*1NE,UES OF TO* OODt-
CE AT KEW YORK, FISCAL YEAR 1909.
ascary^ende^JunoSO bullion during the
Treasury, amounted to S325!o06 Sl the ^ "75 deP°-*ed m the
E™'n‘ #RRrogated $268,590.79 and net *XPend,tures °» ‘he same
$66,416.02. ’ nm1 n*t earnings over expenditures
REPORT DIRECTOR OF MINT. 23
The earnings and expenditures of the several mints and the assay
office at New York were as follows:
Institution
Charges col¬
lected.
Surplus bul¬
lion.
Expendi¬
tures.
Philadelphia. . . .
San Francisco . .
New Orleans. .
Denver .
New York .
. $101,741.86
. 54,143.81
. 4. 005. OS
. 86,519.21
. 43.700. fc6
SS.846.72
0,532. 43
1,543.23
17,581.54
320.07
$74,508.00
78,084.01
1,655.26
42.977. 75
01,365.77
Total .
. 290,176.82
34,829.90
258.500. 70
APPROPRIATIONS AND EXPENDITURES, OFFICE OF THE DIRECTOR OF
THE MINT, FISCAL YEAR 1909.
Under the act of Mav 22, 1908, there was appropriated for the office
of the Director of the Mint to meet the expenses of that office for the
fiscal year 1909 the sum of $36,770.
The expenditures from the appropriations for salaries, supervising
the annual settlements at the mints and assay offices, collecting and
compiling statistics of the production of gold and silver in the United
States, for incidental expenses and the purchase of and subscription
to books and pamphlets, and contingent expenses for the laboratory
aggregated $34,666.69, leaving an unexpended balance to the credit
of the^ various appropriations of $2,103.31.
In addition to the above appropriations, the act of May 22, 1208,
contained a specific appropriation of $65,000 for freight on bullion
and coin between the mints and assa)r offices. ’ 1 he expenditures
from this appropriation for the fiscal year 1909 amounted to $55,-
756.69, leaving an unexpended balance of $9,243.31 to the credit of
the appropriation. . . _ _ . .,
There was also a specific appropriation of $300,000, under the act
of Mav 27, 1908, for “Transportation of money from the mint at ban
Francisco, 1909,” of which $277,434.12 was expended, leaving a bal¬
ance of $22,565.88.
Appropriations and Expenditures, Office op the Director of the Mint, Freight
oTb^on AND Coin Between Mints and Assay Offices, and Transportation
of Money from Mint at San t rancisco, 1909.
Appropriations.
Amount
appropriated.
Amount
expended.
Unexpended
balance.
_________ _
$30. 120.00
$29,603.34
$126.66
6.650.00
4, 973. 35
55,756.69
9,243.31
Freight on bullion and coin - - - - - ... - ■ .
Transportation of money from mint at San Frantlsco .
IK), IWU UU
300,000.00
27?! 434! 12
22,565. 88
401,770.00
367,857.50
33.912,60
In the appendix will be found a table showing in detail the earnings
and expenditures for the year.
24
REPOBT DIRECTOR OF MINT.
Consolidated Statement of Expenditures for Salaries, Wages, and Supplies
of the Mints and Assay Offices during the Fiscal Year 1909.
Items of expenditures.
Ordinary ex¬
penses.
Refinery ex¬
penses.
Acids .
$6 321. (S3
•in 01 Q
Adjusting weights and repairing balances _
475 49
#lU,«5JLO'
1 267
27
Advertisement!, .
358. 24
OO
balances and weights .
1 872.85
. . — •
Barrels and lard tierces. . . ,
253. 05
20’ 7
45
Binding of records .
145.85
4U7.
00
Carpets, furniture, and fixtures.
363.56
4, 104. 10
25.45
Chemical apparatus ...
1,630.84
450. 21
Chemicals not otherwise specified. .
2| 396.' 65
21,924.04
26,407.06
1*> 748 fU
4.294.08
1,377.29
2,690.46
142.53
12,971.26
99.90
Copper . .
Crucibles, covers, stirrers, and dlDDera..
Drayage . .
4^1 • TO. Irt
2.446. 10
Electric light and supplies .
5,949.53
2, 147. 77
Electric power . .
7 . 610. 58
a- M. i
i
Electrical vault protection and burglar alarm
Express anil freight... .
7 , 045. 92
408.00
154. 10
1,629.30
2,028.22
1,462.48
3,093.38
ft, 986. 37
Fire brick . .
Fluxes . .
Furnaces and repairs. . .
13.89
323.99
3,964.69
1,450.84
3,637. 94
15,565 35
Hardware . .
8, 862. 01
2,806.08
1,601.63
316. 49
Iron and steel . .
Labor (temporary) . .
Laundry ... . .
Lead: Bar. sheet, and pipe. . .
1,856.27
4,940. 34
962.42
2.072.71
193.47
164.24
10.60
Loss on sale of sweens . .
Machinery and appliances' ! !! ! .
Metal work and castings .
1,319.04
4,744.31
2,988.88
15,803.42
411.89 1
4,519.64
522. 10
17, 170. 44
673.08
Naphtha . .
6, 904. 74
7,571. 12
72 43
78.05
5,205.29
2,953.97
789.58
1,047.31
3,296. 57
1,520.50
427.04
13,903.31
175.51
2,149.93
2,038. 61
*,000. O'J
Paint _ .... .
Printing . . .
Repairs (machinery, etc!) ! ! . .
Bowing. . . .
Stationery . .
Telegraphing . .
Telephone .
Tools . . .
Traveling ox penses . .
1,580.77
540. 14
99 22
3,208.81
155.00
i, 801 53
2,320.22
.40
86.' 17
w£ hPrinkling, beating, and irrigating! ! ! ! ! ! ! ! ! . .
2,024.46
4,118.04
307. 82
12.73
17,038.35
3,330. 00
841.51
569.23
1,651.07
0.795 17
Total _
Salaries . =
W ages of workmen ..!!!!. . .
249. 196.50
105.272.22
220,017. 52~
Total . . -
983,916. 44
153,318.57
- - - -
1,453,130.46
258,590.79
Total
122,639.90
743. 14
358.24
2,015.30
660.05
145.85
389.01
4,104. 10
2, 141.05
5,535.38
3,773.94
24,614.50
26,549.59
25,719.30
2.546.00
8,097.30
8,554.35
13,032.29
408.00
154. 10
1,643. 19
2.352. 21
5,427. 17
4.544.22
19,203.29
10.463.64
3.122.57
2,049.74
5.104.58
973.02
2,072.71
1,730.93
9,263.95
3,510.98
32,973.86
7,607.82
9,954.71
72.43
78.05
6,786.06
3,494. 11
3.451.57
1,520.50
2.228.57
16,313. 53
175.91
2, 149.93
2. 124. 78
2,865.97
4,687.27
307.82
1.063. .NO
a £888 52
3,330.00
354, 46S. 72
220, 01 7.52
1, 137,235.0 1
1.711,721.25
laboratory of the bureau of the mint.
bureau Vid°4?5 fold and e^Tifvor ^ ^ of this
sr f t f were found
limit beinf o.ooi abo!e Soooo?^.8^' dard (the
ation below was 0.0006. ° 000^’ while the greatest <lewi-
REPORT DIRECTOR OF MINT.
25
The greatest deviation of silver coins above standard (the limit
being 0.003 above or below) was 0.0009, while the greatest deviation
below was 0.0013.
The following table summarizes these assays:
In addition to the above there were examined 334 Philippine silver
coins, all of w hich were within the legal requirements as to weight and
fineness. Also 6S assays of miscellaneous gold were made in settle¬
ment of differences between the Denver mint and the Seattle assay
office, and 55 samples of ores wrere assayed for the United States Geo¬
logical Survey.
THE ASSAY AND VALUATION OF GOLD BULLION. a
[Bv Frederic P. Dewey, assayer, Bureau of the Mint.]
The Bureau of the Mint of the United States Treasury maintains 13 offices for the
purchase of ^old bullion, and this paper describee an investigation to establish the
reasonable differences in the assay results at the various institutions which may be
commercially allowable in the settlements between them. Beginning with the
comparative assay of proof gold at the Philadelphia mint and the Utrecht mint, which
shows 0.00002 as the closest agreement now possible, nine tables of comparative results,
taken from the regular work of the service, are given. These tables begin with very
fine gold, produced in an electrolytic refinery, showiug close agreement in the assay
results, and follow through decreasing gold fineness and increasing amounts and
complexity of base metals to verv impure and complex bars produced at cyanide mills,
some of which give widely varying results. N ext is given a series of results on samples
prepared and sent out to various laboratories in the service, to test the influence of
different metals and various combinations upon the agreement of the assay results; 11
samples were sent out and cat'll one was assayed from 4*1 to < 1 times, making a total of
623 assays To those are added 107 assays of identical samples of com gold .
On a previous occasion, & I have endeavored to show the degree of aocunwy that may
be expected in the ordinary everv-day analysis of various materials, and on another
a This paper was read at the Seventh International Congress of Applied Chemistry,
London, May 27 to June 2, 1909; also at the Spokane meeting of the American Institute
of Mining Engineers in September, 1909 . „_n
6 The actual accuracy of chemical analysis, Trans. A 1 M. E xxvi, 3/0 (1896),
Jour. Am. Chem. Soc., vol. xviii. No. 9, p. 808 (Sept., 1896L
26
report director of mint.
_ _ _ * _ _ ti_i ...onhnn to the accuracy of the commercial assay for aflwer.
UK-nt. the mint- are compelled to treat the bullion sent to them from the assay offices
in exactly the same manner a? the bulli*Hi deposited directly by individuals. and the
prices are carefully determined at which the assay office bullion should be charred
against the mint in the Treasury account- Naturally, discrepancies sometimes an-e
between the mints and the assay offices. A very large proportion of these are small and
arc easily adjusted In fact, most of them adjust i hem-elves automatically, as they
are on both side* of the account, and the pains and losses over a period of time will
counterbalance each other. On rare occasions, however, the differences require
adjustment by umpire assay? in the Laboratory of the Bureau of the Mint at Wash¬
ington. For several year? I have been gathering data upon the subject, and have had
a series of assays made in order to establish standard limits of differences which might
be considered as allowable on different classes of bullion.
The methods of assaying followed in the various institutions are substantially the
same, and have prawn up as the result of many years of experience, so that with careful
work on pure bulliacs the results obtained at different institutions ought to agree very
closely: but with impure bullions — that is, bullions containing other constituents
besides gold and silver — the cham.es fur variations in the results increase The action
of different impurities varies widely. Only small amounts of some impurities induce
excessive variations in the results, while comparatively large amount- of others have
but little effect, and. on the other hand, a combination of several impurities in a bullion
may l»e mot disastrous to any agreement of the a-euv roult*.
The bullion i? handled in the same manner at ail the institutions. It is weighed a-
received, and then melted Generally a simple melting with soda or borax, or both,
is sufficient, but sometimes it is more or less refined in the pot. In the case of lam*
melt-. 1.000 ounces or over, or of very impure bullion, a small sample may be dipped
or poured out from the well stirred pot and granulated in water The trrauuU Don¬
ate used for the assay sample. In general, however, the metal is cast into bars, and
these bars are chipped, top and bottom, to obtain the ureay samples. The bare are
again weighed and the assays made, when the value of the deposit is calculated from
this data. If. however, the various assays made on a deposit do not agree well enough
to'r£UJ bar is remedied, with or without refining in the pot.
The determination of gold in ores by the fire a-wav, when properly executed, is
justly regarded as one of the must accurate of analytical method- With ordinary care
and an excellent bead balance, 1 part of gold in more than 20.000.000 part- of ore can
be readib and accurately determined. The determination of 1 part of gold in 5.000,000
part:* oi eye is ' ery easily done Until recently, however, it was rare for commercial
REPORT DIRECTOR OF MINT.
27
error? iu the handling of the comet, resulting in plight losses or gain? in it* weight, count
heavily’ against the highest accuracy of the results
About two year? ago samples of proof gold were exchanged between the Philadelphia
mint and the Utrecht mint, and these samples were assayed in comparison with the
utmost care at both institutions, with the result that the Utrecht i>n>-.f was pronounced
slightly the best by both mints. The difference in the results of the assays at the two
places was only 0 00002. This is by far the most careful and exhaustive comparison of
gold bullion assays known to me. and undoubtedly represents the limit of accuracy
at present attained by human skill in such work
Table I shows a series of results obtained by three assay ere working in the same
laboratory' upon tine gold from an electrolytic refinery. Each assayer worked upon
the same sample in each set of assays as averaged, the samples being cut from both
the tops and bottoms of the bare. \\ hile there is a possibility that there may be some
difference in composition between the tops and bottoms of the bare, yet in such high-
grade material as this any such difference must be slight, and 8 tests upon the subject
showed a maximum difference between the top and bottom of only 0.0001, which is
considerably' less than many of the differences between individual assay's. On the
whole, then, the figures may be taken as fairly* representing the ordinary' run of com¬
mercial work upon such high-grade bullion. ' It will be noted that in 'several cases
the figures exceed 1,000, which is due, in part at least, to the high grade of the material.
It may also be due in part to the presence in the electrolytic gold of unusual im-
Eurities in very’ small amounts. These data emphasize the necessity' of averaging a
irge number of assays to get a satisfactory determination of the fineness in such
very high-grade material
Table I. — Fine Gold Assays.
1.
2.
3.
Average.
1
2.
3.
Average.
999.8
999.0
999 6
999.7
999.7
999.3
999.5
1000.0
999.7
999.5
999.8
999.6
999.7
999.5
999.4
999.9
999.9
999.5
999.8
1000 1
999.7
999. K
1000.0
999 8
999.7
999.5
999.0
990. 6
999 7
990.0
999.8
1000 3
999.8
999.9
1000.3
999.8
999.4
999.4
999 6
999.7
999 5
999.7
999.7
1000.3
999.7
1000.0
1000.4
999.6
999.7
999.8
1000. 1
999.5
999.6
999 8
999.9
999.9 ,
999.8
1000.0
1000.2
999.9
999.8
999.9
999.6 1
999.7
999.8
99 •. 8
9W1 5
1000. 1 1
999. S
999.5
1000.3
999.8
999.8
999 8
999.7
999.9
999.9
999.0
999.5
1000.2
999.8
999.7
1000.1
999 8
999.9
999.7
999. G
999.8
999 8
009.8
1000.0
1000. 3
999 9
999 9
1000.5
999.9
999 8
999 9
999.7
1000. 1
1000.4
999.9
_ B
999.8
1000.1
999.8
1000.0
999.9
89, 8 l
999.9
Table II shows results obtained by various asaayere in a single laboratory in assaying
granulation samples from a wide vaYietv of bullion.
The figures given in Table III are all taken from a single shipment and show the
accuracy that can be obtained upon material of fairly uniform composition, being
mostly gold and silver, with but little base metal present. This table shows, first,
the results obtained at the assay office where the bullion was originally purchased;
and, second, the results obtained upon the same material when shipped to a mint.
In some of these samples there is undoubtedly a difference between the tops and bot¬
toms of the bars, but the figures show’ the agriHunent that may be expected between
two institutions in arriving at the value of such deposits.
Table IV gives the assays of 14 bars which were referred to the bureau laboratory
for adjustment , although the average differences between the mint and the assay office
were only slight.
The handling of bullion produced at mills using the cyanide process of gold extrac¬
tion has given a great deal of trouble.
28
REPORT DIRECTOR OF MINT.
Table II.— Miscellaneous Gold Assays.
Gold fineness.
•
Silver
fineness.
Gold fineness.
Silver
fineness.
0.4
0.4
0.3
0.1
997.5
148.3
148.4
148.3
148.4
372.0
0.5
0.4
0.4
862.5
179.0
179.1
179.0
695.0
2.8
2.8
2.8
2.9
955.0
194.1
194.3
194.7
195.0
771.5
6.1
6.2
6.3
6.3
970.0
208.3
308.3
208.6
416.0
11.0
10.9
11.1
10.9
mo
308.4
308.8
308.5
308.6
149.0
12.0
12.1
12.3
12.3
805.0
439.9
440.0
439.8
440.0
190.0
17.0
16.5
17.1
17.0
967.5
510.1
510.0
509.6
509.6
236.0
19.4
19.4
19.7
19.6
835.0
515.0
515.1
514.9
515.2
171.0
29.4
29.4
20.2
29.2
709.0
537.7
537.8
536.8
537.1
227.0
36.1
36.0
35.9
36.0
G89.0
571.6
570.4
571.4
571.0
185.0
43.2
43.2
43.1
47.0
605. 3
006.9
606.7
606.8
129.0
47.0
46.4
45.4
46.3
304.0
642.6
643.0
643.8
642.7
257.0
52.4
51.8
52.0
51.4
79.0
711.2
710.2
710.7
711.7
3.0
62.5
62.7
62.1
62.5
766.0
716.0
716.1
716.0
715.9
222.0
68.0
68-2
68.3
68.0
362.0
758.9
759.0
750.0
759.1
216.0
79.0
79.4
79.0
79.1
731.0
S70.6
870.5
870.2
871.4
27.0
108.5
109.3
108.7
108.9
495.0
978.0
978.4
97S. 0
.
17.0
Table III. — Assays op a Single Shipment.
Gold fineness .
Assay
office. Mint.
M3. 4 M3. 0
M3. 4 M3. 0
M3. 4 M3. 2
M3. 2 M3. 1
M3. 2 M3. 0
M3. 1 M3. 3
8llver fineness . 151.5
Assay
Assay
Assay
Afsay
office. Mint.
office. Mint.
office. Mint.
office. Mint.
NO. 9 860.3
862.5 862.6
863.6 863.4
864.8 .864.6
NO 9 NO. 6
862.3 862. 5
803.6 863.5
864. 8 804.6
NO. K NO. 6
862.5 N12.5
863.6 863. 4
865.0 864.5
NO. 9 NO. 7
R02.0 862. 6
N»3. 3 863.6
864.7 804. 4
NO 9 NO. 7
802.5 862.5
863.6 863.6
N4.8 864.9
860.7
802.5 862.0
863.6 863.6
864.7 864.7
135
134
132
131
Assay
office.
Gold finem*** .
870.5 870. 8
870.0 870.0
870.0 870.9
870.5 870.0
870.6 870.8
870.0 870.8
Silver fineness . 12g
Assay
office. Mint.
873.5 873.2
873.6 873.9
873.6 873.6
873. 4 873.7
873.5 873.5
873.7 873.4
122
Assay
ollire Mint.
874.9 874.9
874.9 K74.9
875.1 874. 7
874.9 874.7
874.7 874.7
874.9 874.7
120 5
Assay Assay
office. Mint. office. Mint.
878.2 878.1
878.3 878.2
878.3 878.3
878.3 878.2
877. 8 878.2
878.2 878.1
880.1 879.9
880.1 880.0
880.2 880.2
880.2 880.1
mo VSO.J
880.0 880.1
117
116.5
Taolu IV.-Comparison Between Assay Office. Mint, and Boreal,
gold fineness.
Assay office . .
Mint .
Bureau...
Highest . .
Lowest...,
Difference. .
736.6
736 4
736 5
736 5
735 4
735 4
735 1
735.9
735.9
736 0
736 1
736 l
736 6
735.1
1.5
807.5
850.2
853.1
866.8
8GS 3
876 4
807 6
850 3
853 4
867 0
N» 0
875.7
866.5
868.4
.....
.....
.
866 6
868 6
807.2
849.1
852 6
865.7
867 5
875.1
806 7
849 4
852.7
806 2
866 9
875 4
807. 3
M9.9
852.5
N«5.9
867.5
807.1
NO 2
852.6
SCO 3
8.7.5
N)7. 4
850.1
852 7
866.8
867.9
875.9
807. 5
850 1
853.0
806.0
807 5
875 9
807. 5
850 2
853 1
866 7
867.8
875 8
807 . 5
850.0
852 9
SCO. s
S07.7
875 9
807.6
850.3
853 4
867.0
868 6
876-4
800 7
My. 1
852.5
865 2
NO 9
875.1
0.9
1.2
0.9
1.8
1.7
1.3
REPORT DIRECTOR OF MINT.
29
Table IV. — Comparison Between Assay Office. Mint, and Bureau— Con.
SILVER FINENESS.
Silver fineness .
181.0
133 0
142.0
127.0
112.0
120 0
GOLD FINENESS.
Assay office .
. . S78 2
879.1
884.0
886.0
802.8
897.4
899.5
878.2
879.1
884 1
885.5
892.5
897.3
899.2
8M 0
883 9
Mint .
878 3
883 7
885.6
891 7
806.4
89* 8
877.6
878.6
883 0
885 4
891 9
896 2
897.8
877.7
878.5
883 0
685 2
85)1 7
896.6
898 9
877.8
878. 8
SS3 6
685 3
8V2 0
890.8
898.0
Bureau . . .
. 878 2
879 2
883 7
685 7
802.0
897 2
898.7
878 1
879 2
883 7
885.5
892 8
897.1
898.7
878 3
879.4
883.6
885 9
802.1
897 1
898.6
878 4
879 1
883.6
885.9
892.1
54)7. 3
898 8
Highest .
879.4
884.1
886 0
892 8
897.4
899.5
Lowest .
878.3
883.0
885.0
891.7
896 2
897.8
Difference.. .
1.1
1.1
1.0
1.1
1 2
1.7
SILVER FINENESS.
Silver fineness.
117.0 115.0 1130 1UO.O 88.0 00.0 95.0
Even when properly prepared such bars are likely to be troublesome, but when, as
not infrequently happens, the slimes are not properly purified before being melted
into bars, they may give no end of trouble.
A very mild ease of variation in cyanide bars is shown in Table V. As received,
these bars were chipped and the chips assayed. Since the figures thus obtained were
considerably higher than the shipper’s figures, the bars were then carefully bored and
the borings assayed. Finally, the bars were remelted, with small lottos in each case,
and granulations taken. The granulations were then assayed.
Table V. — Assay of Cyanide Bars.
GOLD FINENESS.
Chips.
Borings .
Granulations.
394.1
381.6
360.
392.7
383.2
381.
392.0
381.3
381.
392.0
383.4
383.
394.0
381.6
380.
392.1
381.3
381.
393.5
382.fi
382.
393.4
382.3
382.
393.6
382.8
382.
303.8
382.2
383.
7
381.6
440.8
7
381.8
440.9
5
381.5
440.3
4
382.8
440.4
7
381. C
440.8
6
381.5
440.3
0
381.8
440.7
7
382.5
440.4
4
381.2
440.1
2
381.4
440.1
SILVER FINENESS.
Silver fineness
370 370 370 370 357
Table VI exhibits the results obtained by sampling three cyanide bars, high in gold
and very low in silver, in three different ways. The assays show a wide variation on
the chip samples. While the drill-sample assays are fairly concordant for this class
of material, the dip-sample assays agree much better and are to be preferred.
30
REPORT DIRECTOR OF MINT.
Table VI.— Assay of Cyanide Bars.
[Sampled In three ways.J
GOLD FINENESS.
Chips.
Drills .
Dips.
833.1
884.2
82S.1
863.3
830.7
866.2
842.1
8b9.6
834.5
864.2
m.7
864.2
832.7
865.8
835.5
867.4
835.4
867.0
834.6
866.6
834.1
865.9
834.8
866.6
834.2
867.1
835.3
865.1
834.8
865.2
834.1
866.9
834.5
834.7
834.6
834.5
839.8
841.9
840.2
839.1
845.5
845.3
845.0
845.4
544.4
845.5
845.7
845.1
844.9
845.5
845.0
843.4
Silver fineness .
Weight .
5.5
1,109. 06 or.
8.0 8.0
1,228.40 oz. l,171.16oz.
. ° Thl.sw^ considered Slcto^v 8h<T?d 54,6’ 545 5> 546-2- 546
chip samples there yielded most varviiur'mi^f ^ 1 Tm shlPPc“<l t0 a mint, but the
542.4, 555 6. The bS WTth^n "“a"8’ “fo,.,OW9: 5« «. 535.2, 543, 535,
Another cyanide bar received at the &d gmnulalions showed 550.2 and 551.2.
592, 593.9, 592.9, 593 3 fine fn job °®Jce from the mill showed
45 aw a& «
"hS,u S'1: p«‘5,!JS‘,tXid “,'h* »i'r 01 1,8
Troy and was probably about 847 fine in the *?ar 3weigh^d 643.30 ounces
o?i4hcd 5(?2*01 ounces, showing a loss of 141 ->9 ftiLWas- melted seven times, when it
2;4. fine 111 and 21 lino in silver TheiSlSnS we\h.t- The final bar was
meltings was onlv approximately 3 75 min™* *L ^°.m, t*118 excessive course of
recovered from the slags. * unces, most of which could undoubtedly be
worth melt shows praedcalty u!? refinin<>1 ,!,« V 1 1 . 11 “houI<1 be noted that the
90 that no Poetical change is shown fa & ^y’6 Welght was onl>' lightly reduced,
REPORT DIRECTOR OF MINT.
31
Table VII.— Cyanide Bar, Melted Seven Time*.
[Original weight. 043.3 ounces Troy.|
First melt. 557.22 ounces.
Second melt. 544.40 ounces
Third melt. 536.44 ounces
Gold fintrusa. 1
Gold tiiunfu.
.... 847.0
847.0
Third melt, .536.44 ounces .
.. 877 8
879.4
847.2
840. 6
863. 4
877.7
848. 0
840.3
875.7
876.9
847.8
844. 0
Fourth melt, 535.55 ounces .
. 878.3
878.7
847.0
847. 6
879.0
871.4
ss .
. 808. 1
808. 3
877.5
861.6
867. 1
868.8
877.1
878.0
805.8
860.7
875. 8
879.5
860.1
866. 0
870.2
879.0
800. 8
867.5
876. 1
877.5
869.2
St*. 1
876. 9
878.0
867. 9
867.4
871.7
875.7
.. .877.3
877.3
879.0
879.0
877.3
879.4
Fifth melt, 511.88 ounces .
. 916. 8
917.3
875.7
870. 6
916. 9
917.6
873.8
875.8
917.6
910.8
877.4
878.7
917.1
910.9
870.7
877.3
Sixth melt. 504.82 ounces .
....028.6
928. 6
876.0
870.8
929.2
928.8
875.4
877.5
929.4
928.6
878.9
*74 -
030.0
928 8
879.2
874.1
Seventh melt. 502.01 ounces... .
. 933.5
933.3
87'i. o
865.7
933.2
933. 4
875.4
875 2
933.3
933.7
877.0
878.9 1
933.7
933.4
From an extensive series of tests made at the San Francisco mint it was found that,
as a rule, in the cyanide bars from several California plants the chip samples taken
from the outside of the bars would be about 2.5 fine less in gold than the borings when
taken away from the edges of the bar, and that the borings gave satisfactory' samples
of the bare. ,
Thirteen miscellaneous deposits were united in a mass melt anti cast into 1/ oars,
weighing 2.&41.77 ounces. Each bar was chipped twice and each chip was assayed m
duplicate for gold. The following table shows the number of times the stated fineness
was obtained : »
Table VIII — Mass Melt Assays.
Fineness. Number Fineness. Number. Fineness. Number. Fineness. Number
405.0 400.0
405. 2 . 400. 2
405. 4 1 400. 4
405.6 406.6
405. 8 4 400. 8
407.0
407.2
407.4
407.0
407.8
408-0
408.2
408.4
408.6
408.8
The average of the 68 assays showed the mass to be 407.16 fine in gold.
When made from the highest grade of metals our coin gold, 600 ' tuit
docs not segregate. The gold used may contain a
should be as free as possible from all other impurities, and the PP • ^ j
highest purity possible. Occasionally, in practice, however,
segregation due to some impurities present in ininut o arno “ 1 > ' v;, .1 (p-d the following
inside strip cut from a double eagle was assayed . Jqqq .«* On another
pradually decreasing figures: 900.2. 900.1, 899.9, 899.85. 899.5, 899.45. Un anoin
32
KEPOItT D1BECTOB OF MINT.
occasion a double eagle wa* rut a* indicated in fig 1 and the following result* were
obtained :
Gold fineness.
A.
B.
c.
D.
899. 12
000. 47
899.89
899.70
899.45
899.20
900.38
899.85
899.58
899.45
899.4
900.2 ..
899.4
900.5 ..
899.5
900. 2 ..
899. 5 .
One of our most annoying and yet vorv interesting and instructive cases wan a lot
of foreign coin gold, the product of a mint which is very careful in the manufacture
of its corns. Twelve deposits of this material were received at the Philadelphia mint
w i ork astsav office. It KimrwuiH Kn oie.i ; .. . i ♦ 1 — u..i _
ui uS vuuip. twelve aeposns oi tnis material were received at the Philadelphia mint
from the ew Y ork assay office. It was supposed to be 910f lino in gold, the balance
being copper, and very uniform in composition, but the New York assays showed
considerable variation. At Philadelphia one man assayed each deposit in duplicate.
another diati wit li a m n trl i ■ Qucoir a a ^i\Anm i \
^ J r uuauetpnia one man assayed each deposit in dupli
and he was checked by another man with a single assay, as shown in Table IX.
Table IX.— Foreign Coin Gold Assays.
GOLD PINE NESS.
First assaycr . 1,17.6 910.4 910.4 917.0 917.5 917.1 915.0 917.3 917.6 914 7 917 0 917 0
Second a&sayer . 917*2 917*3 917 7 917*1 oirl Jil t 9,7S 917 3 917 5 9,(18 91fi-9 9171
* . Z 917 3 9l7‘7 917 3 9J0 3 W7.2 916.3 910.0 915.8 915.4 910.0
While o^'rwm 900 brinS down lo ,he Unitcd Stat,>8 Mandard.
upordoTnr.^l^Z f "4‘ *h:. ono-thou^andt h
inTi^us,^;.;,,,“t,,^rjhy n->: ^ho'Tork
delivery were ZtTnuZr^:/ ^2® did; 1“ tw from one
delivery ^rere ^Th lD ^ '
Si Sr ,hP Mme dd'"* “d « —>» w“- m^e7 a^ZTUJt KC
Gold
_ fineness.
3 assays showed . ^ ,
3 assays showed . '
5 assays showed . I®9-8
4 assays allowed - ^-9
7 always showed . .’!!!!!*“* goo’i
Gold
fineness.
J assays showed - ym •>
5 assays showed . .
4 ussays allowed . . 2J)- r
1 nasuv showed ‘ ‘
. 900.7
the presence of a anmll amount
thin was Could not be given to the matter ’• enoil£h work to decide what
grade foreign coin gold at the San Knin £ 1 “®lllar with a different high-
-g » minute amo,1n,„fanUm.mT """• 'he ,rouble »“ ,ra‘eJ '» ">«* pre“.
^er2nte^^andnorva^^rc^^ftiC0°“^m(l‘Ild,fr> '«»< 'he influence of the
prepared m ,ho bureau «f»» thepM amayawrice of ramplee
fo,r “y- In preparing the fJmioleJ 1 hi ™ VanoH“ lubo™tories in the
■taring when molten and ibmel ted *« ,h ,uc“ul wua thoroughly mixed bv
cast into small bam, and when n&StfiwA *'%<**** necenaarj8. Thev were finally
were cut into ainall square* and these uer* ^.uctl^e were rolled out thin. The striu*
turn taken out „f themixodple efT, "-0° m«l «P “ud ««mplea for each inS-
hammered out and rolled until t .ev er .mh Jt ? *“!e of lhc brittle bam. they were
""" *— - - ->■
IUC PORT DIRECTOR OF MINT.
33
**nny rtmulU nil chwcfti of difference* being due to dilTnrencM in the eamplcw operated
upon, and to rontlne tho difference* ahown to the actual o**ay work. In one very hone
liunplu, which will ho further noted, it wo* not powiblo to adhere to thin rule becauao
the meLul wu* too hard.
In making nimh hiiiuII molt* it in pr*r lically jmpoawiblo to udhoro to any predeter¬
mined corn po*it ion with any decree of cloacim**.
The find wimple lent out wo* gold about JOG tine in ailverond about 10 fine in copper-
aevi'iily-ono tn*aya of thin wimple were made in 91uborutorie*, with tho following renu I La:
3 Many* allowed
I Maaya allowed .
ft aaaava allowed .
ft Maaya allowed .
II Maaya allowed.
14 Maaya allowed
Gold
Aiienam.
. HH4 1
K M4.2
HH4..1
19 aaaaya ahowad
7 mm ye allowed
ft uAiaya allowed
Gold
fineneae.
... 8*4.7
. . 8*4 ft
... HM.U
. KH4 ft
. hM.ft
71
Tho average* obtained in the different laboratorie* were:
Gold
Gold
Gold
flneneaa.
flneuaaa.
flneneaa.
8*4.271
**4. 517
*M <Wt
Wit. 4 33
ft*4 M7
WM . 71ft
tiM. 4.1ft
8*4.031
8X4. 7*8
A wimple approximately 500 fine in silver, 110 tine in copper, and 50 fine in load
wan u**ayed *ixt y-four time* in 0 hibomtorie*, with the following renultn:
0 Gold
Amom.
2 Maaya allowed . . . MO. 9
Gold
flnanw,
1 aoayi ihoeel . Ml 7
7M-oiyauliuwi.il . 141 0
ft neaaya aiioweil . 341 8
11 aaaaya allowed . . 841. 1
7 aaaaya allowed . ... . . . . . 14 1 2
3 aaaaya ahowad . 341.9
4 aaaaya allowed M7 0
2 ananyi allowed . . Ml 3
1 tmay allowed . jui t
ft aeaaya allowed . 341.4
7 aaaaya allowed . 341 A
9 aaaaya allowed 341.0
114
The average* obtained in the different laboratorie were:
"■■■—» 1 ■■ 1
I Gold
Gold
Gold
1 flliciinM.
flneneaa.
flneneaa.
341.010
341. 103
341.000
341.03ft
311. 4(17
341 WU
| 341. lilO
341. A20
841.913
Two aarnnloH were both about 25 tine in rnix<*d hone rni'tal*, 'while ono wan approx¬
imately IMJ0 fine in nilver, and the other won about 450 fine in nilvor. Tho find winiplo
won uwayed nixty-ono time* in 0 laboratories, with the following renulta:
1 Mtay allowed
4 MMya allowed,
ft luaayx allowed.
9 Maaya showed,
ft Maaya •bowed.
<1 Mouya thawed.
9 Many* allowed.
Gold
Lnenoaa.
. «I7. o
H17.7
. 017 ft
. 0IH. 0
(lift I
«l* 2
0IN 3
ft oaanya ahowed .
4 RMiyi allowed. .
U luuyi allowed
2 aaaaya allowed . . .
01
Tho nvorogea obtained in the different laboratorie* were:
Gold
Aricneae.
. 01*. 4
01*. 0
. fllft.ft
01ft. 7
' Gold
Gold
Gold
^ flneneaa
flneneaa.
Alienees.
017. 72A
018. 233
018 3ftft
01102ft
01 ft. 2ft3
0l.ft.407
0IH. 1.1ft
01* 320
01ft. 4M0
19711 JO 3
34
REPORT DIRECTOR OF MINT.
Gold
The second sample was j
results:
4 assays showed . 528. 6
7 assays showed . . 528. 7
3 assays showed . 528.8
3 assuys showed . 528.9
4 assays showed . 529. 0
7 assays showed . 529. 1
12 assays showed . 529. 2
iayed sixty times in 9 laboratories, with the following
Gold
fineness.
10 assays showed . 529.3
7 assuys showed . 529. 4
2 assays showed . . 529. 5
1 assay showed . 529. 6
- •
00
The averages obtained in the different laboratories were:
Gold
Gold
Gold
fineness.
fineness.
fineness
528. 671
529. 175
529. 267
52s 800
529. 23S
529.283
828.963
529.250
529.300
Ilaving on hand some ferruginous bullion. I attempted to prepare a sample for this
work, but experienced considerable difficulty in getting a satisfactory metal, owing
to the separation of magnetic globules on solidification. By melting several times with
niter I finally obtained a sample that did not Rhow visible segregation, and it must
0 been close to saturation with iron. It was about 763 fine in gold and 185 fine in
silver, so that the entire base metals, including the iron, were onlv about 52 fine
This sample was assayed forty-seven times in 9 laboratories, with the following results
Gold
fineness.
2 assays showed . 762. 9
5 assays showed . 7^ 0
3 assays showed . 763. 2
6 assays showed . -tm 3
• 6 assays showed . 7m 4
4 assays showed . 763.5
2 assays showed . fl
, with the following results:
Gold
fineness.
9 asaavs showed . 753.7
4 assays showed . 763.8
5 assays showed . 7*3 o
2 assays showed . ’ 764 0
The averages obtained in the different laboratories were as follows:
Gold i
Gold
Gold
fineness
fineness.
fineness.
702 975
763.417
763. 6S3
763.175
763. 467
703. 700
703.300
763.500
763.833
toVhS ■« - <>««
was nearly 590 fine in gold, about 245 fine in « lver ^htltm'ir iff #PPD?*P9? which
chaining a little copper and very little lend ’ y 0%er 130 m zinc, and
Thu, sample was assayed fifty times in 8 laboratories, with the following results:
1 assay showed .
3 assay s showed . . .
fineness.
Gold
fineness.
4 assays .showed . . .
3 assays showed _
7 assays showed .
7 assays showed . .
. 6 assays showed .
. j 3 assays showed . .
. 589. 8
. 589.9
The averagea obtained
,n the different laboratories wore as follows:
REPORT DIRECTOR OF MINT.
35
A simple inspection of these results ^hows very clearly that zinc alone does not
materially militate against agreement in the tamy work itself, and if it is the cause
of the trouble with cyanide bars it mu*t be owing to its causing segregation, and thus
preventing the proper sampling of the bars by cnipping or boring Other elements
may also be active in producing segregation in such bars, either by themselves or
through combinations with the zinc or other metal ■< present A low-grad© and very base
bar along this line was prepared to run about 100 nne in zinc. 200 tine in copper, and
50 fine in hwd . It was about 268 fine in gold and 370 fine in silver. This bar was very
hard, and it was impossible to prepare identical samples for the various laboratories.
It wa- simolv cut iuto pieces and a piece sent to each institution
This sample was assayed forty-four times in S laboratories, and while the difference
between the highest and the lowest result is only 1.7 fine, yet the results are mattered
all along through the range, and there is only a slight concentration of the results about
one point. This is, of course, due in part to the fact that the samples assayed were
not identical.
The results obtained were:
(JoJd Gold
*y showed . 268. 0
»vs showed . . 200. 0
ays showed . 2*L 1
ay showed . 209. 3
ays showed . . . 269. 6
»ys showed . . 269. 7
1 assay showed ... . . 2»» 0
3 assays showed.. v . 2h&. 1
0 assays showed . . . 2»>v 2
6 assays showed . 2>A. 3
4 assart showed . . 2^ 4
3 assay-, showed . . . 368. 3
3 assays showed . 398. 6
3 assays showed . 366. 6 44
It has long beeu known in a practical way that the presence of arsenic in a gold
bullion prevents any agreement in the assays' Fortunately, however, the presence of
arsenic very plainly reveals itself in the melting of the bullion, and when found the
melter proceeds to refine the bullion in the pot, and ultimately removes it very com¬
pletely before the bullion can be accepted
Three test samples containing arsenic were prepared, and they yielded most aston¬
ishing and interesting results. The first sample was approximately 7S5 fine in gold.
107.') fine in silver. 100 fine in copper, and 7. 5 fine in arsenic. This is only a small
proportion of arsenic, and yet it completcdy prevented any agreement whatever in the
assay results. This sample was assayed sixty-five times in 10 laboratories. The
lowest result obtained was 779.7 fine in gold, and the highest 792.4. with an extreme
difference of 12.7 in the fineness Moreover, there is the utmost divergence in the
results as well as no agreement whatever: 30 results were obtained only a single
time each, II only twice each. 3 only three times each, and only a single result was
obtained four times. In only three instances did one laboratory obtain the same
result twice.
A sample approximately’ 675 fine in gold, 200 tine in silver, 100 fine in zinc, 24 fine
in lead and copper, and only 1 fine in arsenic yielded a trifling better set of results,
but still very widely divergent This sample was assayed sixtv-two times in 10
laboratories. The lowest result obtained was 671.4 fine in gold, aud the highest 681.4,
showing an extreme difference of 10 in the fineness. 31 results were obtained a single
time only. 10 only twice each, 2 only three times each, and only a single result was
obtained five times. In three instances one laboratory obtained the same result twice,
and in one case a laboratory obtained the same result three times.
It would appear, however, that the influence of arsenic upon the ai^aying of high-
grade bullion containing oijy trifling amounts of base metals is far leas injurious.
While the results on a sample running approximately S6"> fine in gold, 130 fine in
silver, 1 fine in arsenic, anti only 4 fine »u other base metals can not be considered
satisfactory, yet they are verv much better than those yielded by the other two arsen¬
ical bullions' This ample was assaved fifty -three times iu 9 laboratories, with the
following results:
Aww>
1 assay showed . . S®*- \
1 assay showed . . - - . ***• 3
2 assays showed . . ***- 4
2 assays showed . i
2 assays showed . - - **7 *
2 asaya showed . Jtt*
3 assays showed .
4 assa'vs showed . 5
Gold
1 assay showed. . . . 86S.6
3 assay* showed . 86S- 7
4 asays showed . . 865. S
3 a>»\ s showed . 86S. 9
5 assays showed . $06. 0
2 ascars showed . 866. 1
3 assays showed . W6.2
1 assay showed . 866.6
36 REPOET DIRECTOR OF MINT.
The averages obtained in the different laboratories were:
Gold fine¬
Gold fine¬
* Gold fine¬
ness.
ness.
ness.
864.933
865.233
865.500
863.183
$65,286
$65. 517
865.200
865.300
865.717
As in so many other directions, antimony behaves similarly to arsenic in assaying
gold bullion, but its influence is not so pronounced. A sample of bullion approxi¬
mately 723 fine in gold, 245 fine in silver, 1 line in antimony, and 31 fine in mixed
base metals, copper, lead, zinc, was assayed forty-six times in nine laboratories. The
lowest assav obtained was 721.3, and the highest 725.1, showing a range of 3.8 in the
fineness. However, 24 of the results, or just over a half, ranged from 722.8 to 723.9
fine, and outside this range only two results were obtained more than a single time.
Finally, some of our gold coin was melted up and assayed one hundred and seven
times on identical samples in 5 laboratories, with the following results:
Gold
fineness.
6 assays showed . 809.6
10 assays showed . 7
26 assays showed . 890. 8
28 assays showed . 809. 9
Gold
Oneness.
32 assays showed . 900.0
5 assays showed . 900. 1
107
The actual average of this sample is 899.879 fine in gold.
*** *bef° result* *s a basis, the investigation of the subject i9 being continued with
the hope of ascertaining the causes of the variations shown and improving the agree¬
ment in the results attained. It is, for instance, well known that gold cornets are not
pure gold. They always carry some silver, and I have- never failed to find copper in
them when tested for with great care On several occasions I have found lead present
on testing the silver nitrate solution from parting a large number of comets at one time
m a platinum basket. The amounts of these base metals present in the comets are,
3 8“a11; an? th®,ir ^Juence * corrected by the proof assay, in the same
wav that it corrects for the silver left in the comets. 1 am, however, carrying on a
dur^matlonfl of base me,al? P^ut in gold comets, the results
of which 1 hope to publish at some future date. Again, it is assumed that the proof
furnishes a very close correction for the assays, but it is evident that the proofs tKem-
VTiationS and 11 f8 that cupels SS£SS^hSS
^d°^tZtt*rplion 01 the preci0UB melX
proceedings of the assay commission, 1909.
The following-named gentlemen are hereby designated as mm.
reserved "at °the ^several' nl'i'ntrcluring0! e'Llendar ' vear° 1 008 'pur*
suant to the provisions of section 3R47 nf tlw> ‘ ’ pur
i Mr. i< arran Zerhe, Tyrone Pn \iP if Yit- ,T* 7>
ington, D. C.; Mr. Joseph \uld tWi**' ♦ £: Wilkie, Wash-
Helena, Mont!; Mr. Wmkrn j konlu&’w1,:-^' H- W’ < hild.
George \1. Root, Sioux Falls S I)«k • m7’t" D. C.; Mr.
Barre, Pa.; Hon. Ira W Wood H„„‘’ A' Caujdwell, Wilkes-
Hays Hammond, New York ^T’ U°u|| “f Representatives; Mr. John
Ha.; Mr. J. B. Tiffany, New York \ V nf w W; Xl'w Orleans.
' rK,IN- 1 • DrW 1 111am Sturgis Bigelow,
REPORT DIRECTOR OF MINT.
37
Boston, Mass. : I Ion \\ ilham I). Bynum, Muskogee, Okla. ; Mr. Trux-
Bakersfield, Cal. (Dr. H. G. Torrev, ex officio member.)
ie commission met at the mint at Philadelphia on February 10,
1J0J, and Hon. Ira W . \Yood#w as elected chairman.
he following committees were appointed by the chairman with
the approval of the commission:
Committee on counting.— Mr. Tiffany, chairman; Messrs. Manning,
/ierbe, Auld, Cauldwell, and Child.
Committee on weighing.— Doctor Bigelow, chairman ; Messrs. Wilkie.
Met aughey, and Bynum.
Committee on assaying.— Professor Mears, chairman; Messrs. Wil¬
liams, Mitchell, Swasey, Root, and Torrev.
The committee on counting reported that the packages containing
the pieces reserved by the several mints for the trial of coins were
delivered to them, and that they were compared with the transcripts
kept by the Director of the Mint and found to be correct. After
verification the coins were delivered to the committees on weighing
and assaying.
The coins reserved by the mints for the purposes of the assay com¬
mission were as follow's:
Gold coins from the mint at Philadelphia, 6,397, of the value of
$99,205.
Silver coins from the mint at Philadelphia, 8,102, of the value of
$1,400.05.
Gold coins from the mint at San Francisco. 164, of the value of
$1,450. •
Silver coins from the mint at San Francisco, 2,827, of the value of
$671.
Silver coins from the mint at New' Orleans, 6,697, of the value of
$2,210.
Gold coins from the mint at Denver, 2,212, of the value of $31,540.
Silver coins from the mint at Denver, 8,279, of the value of $1,918.
The coins reserved on account of coinage executed for the Philippine
Islands were as follows:
Mint at Philadelphia:
Peso* .
fit) oonluvoH .
3) centavos .
10 centovo# .
Mint at Hun Francisco:
Ccaaa. . .
SO centavos .
3) centavos - .
10 oentavoo .
Pieces.
1
1
1
1
10, 478
The committee on assaying reported receiving and making assays
of coins reserved from the mints at Philadelphia, San Francisco,
Newr Orleans, and Denver, representing the deliveries made by the
coiners to the superintendents during the calendar year 190S.
The highest assay value of the gold coinage (the limit of tolerance
being one one-thousandth) was at —
Philadelphia.
San KmncUco.
Denver .
000.5
000 1
000.2
The lowest assay value of the gold coinage (the limit of tolerance
being one one-thousandth) was at —
R99.7
. 800.8
Philadelphia
Son Francisco.
Denver .
000.0
38
REPORT DIRECTOR OF MINT.
The highest assay value of the silver coinage (the limit of tolerance
being three one-thousandths) was at — •
Phltatlrlpliii . • . £9*?
San Francisco . - .
New Orleans . * . . £ *
Denver . * . *
The lowest assay value of the silver coinage (the limit of tolerance
being three one-thousandths) was at —
Philadelphia . g».l
San Francbeo . 0
New Orleans . -W.3
Denver . • 889- 1
The highest assay value® of the Philippine silver coinage was at —
San Francisco (pesos) . !<02.0
San Francisco (subsidiary) . 748. 8
The lowest assay value of the Philippine silver coinage was at —
Son Krancboo (pesos! . 7W. 2
8*n Franc boo (subsidiary) . 7-Mi. 8
The committee also tested the quartation silver and found it free
from gold, and the lead used in the assay of gold bullion and found
it free from gold and silver. The acid used in the humid assay of
silver was found to bo free from silver and also from chlorine.
The balances used were tested ami found to be correct.
The committee reported the assays as entirely trustworthy, and
that none of the coins tested differed from the standard of fineness
by a greater degree than the amount allowed by law.
The committee on weighing respectfully reported examining sam¬
ple coins selected at random from tnose reserved by the several mints.
The weighing was made on a balance by Henry Troemner, of Phila¬
delphia. The weights employed were furnished under seal by the
Director of the Bureau or Standards, and were accompanied by a
certificate, stating their variations in mass from the standards fixed
by law. The balance was carefully tested and found to be sufficiently
accurate without making corrections.
The secondary troy pound of the mint was compared with the
standard pound and found to be correct within 1 part in 350 000.
Three separate pounds built up of working weights of the mint were
round to be correct within 1 part in 50,000.
The details of the weighing indicated that the deviations from the
statutory standard weights of the coins examined were all within the
legal tolerance, consequently the committee on weighing pronounced
the examination of the weights of the coinage of the several mints
during the year 1908 to be satisfactory.
The committee on resolutions submitted the following:
delnh?!f ‘IZmS t 'at V1® n?t'01?®1 coin collection in the mint at Phila-
“ '* “nous educational institution, and that it is one deserving
financial aid that it may bo made more complete and
instructive, and that it is now inconsiderable, except in the coinage
countries? ho it8Ut“’ W'en 00mp*red with foin collections of many
l««h!^h?i£nt c**cX?lon AouST^0* the AnT“ Commiadon of
since there are over 100,000 visitors „ , £55
th<1 Phil*PI>ine we.
REPORT DIRECTOR OF MINT.
39
would purchase a mint souvenir in the form of an artistic medal if they knew that
the profits from the sale of such medal would be devoted to the improvement of the
coin collection, it is
Recommended that a medal, of a different design each year, be made and offered
for sale to visitors, and that the profits derived from the sale of such medal be devoted
to the improvement of the national coin collection.
We further believe that the striking of this medal should be made close to public
view, thus demonstrating the process of coining better than the distant view the
visitors now have of the coining operations; and that medallic art effects not practical
in our coinage could be produced in a medal. .
Inasmuch as medals and med alettes have been sold to visitors at the inint for mMiy
year*, the profits from which have not served a public purpose, it is believed that
these resolutions can be made operative without congressional action. And be it
fUJWiW, That the thanks of the members of the Assay Comimwion of 1909 be
extended to the Director of the Mint, and to the superintendent, officers, and em¬
ployees of the Philadelphia mint for their many courtesies dunng the session.
MINT OF THE UNITED STATES AT PII1LA DELPHI A, PA.
The following table shows by weight and value the gold and silver
deposited during the fiscal year 1909:
.. . Red«- standard
Metal. Deposits, ounces.
Coinage Tolue.
^ . ... 2,156 2.266 1,561,534.174
229,061.796.66
4.466.522-29
Total . *•«* J *•** . - .
33,516,320.68
Of the above amount of silver bullion 5,769.45 ounces standard are
the surplus bullion recovered bv the melter and refiner in his opera¬
tions during the fiscal year 190S, and of the above amount of gold
bullion 475.51 1 ounces standard are the surplus bullion recovered by
the melter and refiner in his operations during the fiscal year 1909.
Assaykr’s Department.
The number of assays made in this department was as follows:
. J1.W2
Deposits and purchases . . . . 5. (M2
Ingots i sold end silver) . . . . . 9,230
Refiner . . '
Special x
Sweeps a
430
. 47, 847
In addition to this, 350 ounces of proof gold and 475 ounces of proof
sUver were mad^it^ ^ oW jngots made bv the melter and refiner
384 were passed; 33, while within the standard fineness required by
law were returned for remelting. No melts were condemned. 1 here
were 1,839 melts of silver ingots made, of which 1.S31 were passed,
6 returned for remelting, and 2 condemned.
The fineness of gold melts passed was.
4 melts at . Sw -
22 melts at . i
79 melts at . 2
90 melts at .
140 melts at . 25, ,
26 melts at . nv> 2
1 melt at . 900 J
The fineness of silver melts passed was:
77 melts at . — .
95 melts at . - .
542 melts at . .
280 metis at .
melts at .
175 melts at .
65 melts at . .
II melts at .
6 melts at .
40
REPORT DIRECTOR OF MINT.
Melteb and Refiner '8 Department.
During the fiscal year the melter and refiner received from the
superintendent gold bullion containing bv assay 3.332,697.306 stand¬
ard ounces^ of the value of $62,003,670.81, his legal allowance for
wastage being 3,332.697 standard ounces, of the value of $62,003.67.
lie also received silver bullion containing by assay 10,86S,012 24
standard ounces, of the value of $12,646,414.24, his legal allowance
for wastage being 16,302.02 standard ounces, of the value of
$18,969.62. He returned to the superintendent 3,333,172.817 stand¬
ard ounces of gold and 10,862,727.65 standard ounces of silver.
Ho operated upon bullion as follows :
Items.
Gold.
Silver.
logout .
Standard m.
Standard at.
7 f ft? KO
Total .
.
.
/ * lew f ft)
3, 149,873. 14
.. 4, 199,451. 406
10, 337, 020. 10
The excess of gold and silver operated upon over the amounts
charged during the year is due to duplicate operatic^
settl/me5t of th* welter and refiner’s accounts, June 30,
the fiswl veaToff4-^lT ?PP,fr!!?t "ain UP°" the sold bullion during
ine nscal } ear of 4/5.511 standard ounces, and in the operations unon
the sih-er bulhon an apparent loss of 5,284.59 standnJd ounces P
The melts made aggregate as follows:
Melts.
_ _ _ 1
Gold
Bars. Ingots. Anodes.
Deposits. Special.
Total.
Silver . .
T«».l
188 417 1 024 3 405
w* i,s39
371
5.405
3,366
. . J-091 2,250 1,024 4,029
371
8,771
During the fiscal year two silver melts were condemned.
Number, Weight, Vai.ce of Gold and Silver Bare por Industrial Use.
Metal.
Bars.
Standard
ounces.
Coinage
valuo.
Total .
498,362.797
1,051,597.95
$9,271,866.04
1,223,677.60
' - - -
8,285
10,495,543.64
by assay 1 , 1*28.323 standarei^ouni ,SWeePs £ath<*red, containing
ounces of silver. There were 2 4 5 bim-i?* ^ f & 3’743*35 standard
containing by assay ] 619 100 cTnnri i *s 0 d swceps reworked,
standard ounces of silver standard ounces of gold and 3,698.87
REPORT DIRECTOR OF MINT.
41
The operations of the refinery were as follows:
Bullion.
Gold.
Silver.
Sent to the refiner v 4,844.051.86 gross ounces, containing by assay .
Standard oz.
1,64)8,892. 456
1, 6C8, 407.806
808.760
Standard oz.
3,149,87314
3,145,00^.79
2,587.91
Bullion received from refinery . ’ .
Sweeps .
« 324. 102
5 2,282.44
o Apparent gain. 5 Apparent loss.
Silver bullion sent to the refinery upon which refining charges were
collected contained by assay 2,578,437.07 standard ounces, and silver
owned by the Government and returned to the refinery for parting
purposes upon which no parting charges were collected contained by
assay 571,436.07 standard ounces.
Troy ounces.
During the year the melter and refiner received from the superintendent minor coinage metal 17,034,82ft. 3ft
Delivered prior to aettlemenV
Bronze ingots .
Nickel Ingots .
11,739,311.50
3,777,500.40
15,516,871 90
Delivered in settlement:
Ingot copper .
Nickel shot .
Zinc .
Zinc and tin alloy. ..
Bronze residue .
Nickel residue .
Wastage .
813,822.91
615,013.00
3,191.00
31,757.00
2,752.00
553.00
50,865.55
1,517,054.46
17,034,820.3ft
Coiner’s Department.
The coiner received gold, silver, nickel, and bronze from the super¬
intendent during the fiscal year as follows:
QOLD.
Received from superintendent July 1, 1908, to June 30, 1909.
Returned prior to settlement June 30, 1909 .
Returned in settlement June 30, 1909 . .
Wastage in gold..
Standard ounces.
. 2,340,380.115
2,241,793.164
06,526.759
- 2,340,319.923
60. 192
Received from superintendent July 1, 1908, to June 30, 1909.
Returned prior to settlement June 30, 1909 .
Returned m settlement June 30, 1909 .
6,547.455.21
208,304.71
6,756,883.29
6,755,759.92
Wastage in silver.
1,123.37
NICKEL.
Received from superintendent July 1, 1908. to June 30, 1»09
Returned prior to settlement Juno 30, 1909 .
Returned in settlement June 30, 1909 .
,400,706.58
361,596.90
3,777,600.40
3,762,303.48
Wastage in nickel . .
15,256.92
COPPEB-BKON2E.
R**.™,! from »Up.rl|.MdenUulBYl . 1«*. <o Jun. 30. ™»; ; ; ; ; ; ; ; ; ; . . . U.m.3“.»
Returned prior to setl lenient
Returned In settlement '
mem June ou, . ia
June 30, 1909 . 3,479,566.10 ^
704,851-51
Copper-bronze wastage.
42
REPORT DIRECTOR OF MINT.
During the tiscal year ended June 30, 1909, this department
received 2,340,380. 115'standard ounces of gold, of which 2,242,109.995
standard ounces, of the value of $4 1.7 13, 674. 325, were operated
upon, from which there were produced 1,060,116.222 standard ounces
of coin of the value of $19.723, 092.50. all delivered to the superin¬
tendent during the fiscal vear prior to the settlement, and 165.820
standard ounces of coin delivered to the superintendent at settle¬
ment upon which there was a wastage of 60.192 standard ounces, of
the value of $1,119.85, being 5.14 per cent of the legal allowance.
The percentage of coin produced from the amount operated upon
was 47.27 per cent.
During the same period the coiner also received 6.756,883.29
standard ounces of silver, of which 6,568,728.99 standard ounces, of
the value of $8,172,621.66, were operated upon, from which there
were produced 3,816,614.92 ounces of coin of the value of $4.74S,510
in subsidiary coin delivered to the superintendent during the fiscal
year prior to settlement, and 19,909.79 standard ounces of coin
delivered to the superintendent at settlement, upon which there was
a wastage of 1,123.37 standard ounces of the value of $585.14, being
16.63 per cent of the legal allowance.
The percentage of com produced from the amount operated upon
was 58.41 per cent.
There were also delivered to the coiner during the same period
3,777,560.40 ounces of nickel ingots, from which were produced
1,862,715.87 ounces of 5-cent pieces of the face value of $579,427.90,
upon which there was a wastage of 15,256.92 ounces.
During the same period the coiner also received 11,739,311.50
ounces of copper-bronze ingots, from wdiich there were produced
5,323,326.90 ounces of 1-cent coin of the face value of $532,382.95,
upon which there was a wastage of 34,459.99 ounces.
Owing to experimental work in newr gold coins during the past
year the percentage of coin produced from the amount of metal
* UP°.U h* somewhat lower than otherwise would have been.
The following table shows the coinage executed during the vear:
Double eagles . .
Mi
Half
Quarter eagles _
Total .
naif dollars
Quarter dollars _
Dimes .
Toad .
S-eent nickel pieces. .
l*eem bran** pieces.
Total . .
Grand total..
I’lece*.
Value.
317.610
536,311
1.17V. 11S
8S4.SS3
•6. 352.200. 00
5.363.110.00
3. S8H. 575. 00
2.212.307.60
2.907,919
10, 723, 002. 50
1.RJ8H00
a. ny.. poo
16.US0.MM
919.300.00
3. 164,150 00
l. 60S. oro.co
27.143. tOO
4,748.510. 00
11.588.558
579,427.90
533. .182. 96
64.S36.8M
1.111,810 S3
94,880,572
25,583,413.35
Ml.VOE.
BEPOET DIBECTOR OF MINT.
43
Engraver’s Department.
4^ (^es us°d *n the coinage operations of all the mints of the
Lnitod States are made in the engraving department at Philadelphia.
The number of dies prepared for United States coinage last year
was 2,230. In addition 408 dies were made for Philippine coinage,
17 for San Salvador, 61 for medals, and 156 master dies, hubs, and
experimental dies for the new gold and minor coinage.
The following table shows the number of proof coins and medals
and their nominal value manufactured during the fiscal year:
Oold medals .
Silver medals. . .
Bronze medals . . .
Gold-proof coins.
Silver-proof coins.
Minor-proof coins .
Total .
Piece*.
Nominal
value.
154 1
34.542.88
1,502
1.308.0b
43.100
9.754 90
766
5.837 60
1,872
53ft 40
5,828
174.84
53.291
22, 158.05
MINOR COINAGE. .
The manufacture of the 1-cent bronze and 5-cent nickel coins has,
until this fiscal year, been confined to the Philadelphia mint. The
Fifty-ninth Congress at its first session authorized the makingof
these coins at the other mints, and a few 1-cent bronze pieces were
made during the fiscal year at the San Francisco mint.
The coinage of minor coin during the fiscal year 1909 at the Phila¬
delphia mint is shown in the following table:
Denomination. Value.
1-cent bronze.
6-oent nickel .
<532,382. 96
370,427.00
Xo blanks for minor coinage were purchased during the fiscal year.
The amount of metal purchased for the manufacture of minor
coinage was 217,192 avoirdupois pounds, at a east of $28,589.74.
The amount of uncurrent copper, nickel, and bronze coins trans¬
ferred from the Treasury during the year for conversion into current
coins, cost, and seigniorage are shown by the following table:
Old copper cents...
Nickel 1-cent coins.
Bronze 1-cent coins.
Bronze 2-cent coins.
Nickel 3-cent coins.
Nickel 5-ocnt coins.
*200.82
077.70
30,431.00
moo
578.73
102,330.00
Total . . . 224.500.75
Cost of nickel added to 1-cent metal to convert into 5-cent alloy lor recolnage Into nickel 5-oent
Cost of tin and zinc added to old coppcr-cent metal to convert Into bronze 1-ccnt alloy for reooln-
oge into bronze 1-cent coin . 4. 55
Cost of metal of same alio v added to nickel 3-cent metal for recolnage Into nickel 5-cent coin ... 9. 30
Seigniorage ( gain by recolnage ) . . 3, 324 34
Total
227,930. 39
Coinage executed, nominal value:
Bronze 1-cent coin .
Nickel 5-cent coin .
Loss by recolnage — .
Balance, not recoined .
- 187,378.70
. 10, WA 09
29,885.00
Total.
227, 93a 39
44
REPORT DIRECTOR OF MINT.
The seigniorage, or gain, on reeoinage of minor coin was $3,324.34,
as against a loss of $10,666.60, showing a net loss of $7,342.35.
The seigniorage on the coinage of nickel and bronze coins coined
from purchased metal was $830,877.04, which , less a net loss of
$7,342.35 on the recoinage of minor coin and a wastage of the opera¬
tive officers in the minor coinage operations of $1,323.75, gives a net
seigniorage on minor coin of $822,210.94.
The total amount of the several types of minor coin manufactured
at this mint from 1793, when the first coinage of copper cents was
made, until June 30, 1909, aggregated $53,819,274.52. There have
been melted for recoinage $5,003,859.44, leaving outstanding June 30,
1909, $48,815,415.08, the product of this mint.
The several types and denominations of minor coin issued, manu¬
factured by the mint at Philadelphia since its establishment, the
amount remelted, and the amount outstanding June 30, 1909, are set
forth in the following table:
Minor Coins Issued, Remelted, and Outstanding.
Denomination.
Coined.
Jtcrnel ted.
Outstanding
June 30, 1909.
Copper cents .
- - j - - —
■
11,182,344.99
Copper haif-cents .
9380, 542. 45
Copper-nickel cents .
N02.S35.55
39.926. 11
1,204. 884. 45
Bionic 2^5cnt piece* . .
348, 458. Ifi
10, 740,221. 84
339, 007. hi
572,352. 18
Nickel 5-ccnt piece* . . 31 2M mS
2X2, 6ti8. 80
623,099.00
2, 849, 086. tiO
28, 446,585.85
5, 003, 850. 44
48,815, 415. 08
th^^-W a“ °.f Sl_.078.229.05 have been distributed
throughout the States and Territories of the United States during the
SoCl^ent pieces’963'10 “ Dick<?l 5'0<‘nt pi<>CPa anfl **21,266.85
period wasC*2,75UG80r ^ <li8tTibution °f min°r «>in for the same
All Seigniorage.
as **•—•»*
Subsidiary stiver coins
Minor coins .
93. 5*1, 510. 00
1> HI, 810. 85
Seigniorage.
92. 070. .*>7. 24
‘OO.S77.04
2,001.384.28
Visitors.
fo;ei^TouTrSebservkit^d «,e InTf *!’ ?Ut“, ' °f thp Union and from
been shown thr^h by ^ having
Number of Employees.
tionhoff12CfromThe^ Mmbe*t«»rt3d«^i*h“ ^|Cal y<5" shows « redue-
vious fiscal year. The total numKnr the rolls at the end of the pre-
fiscal year was 460. distributed in the sTvetl "epartottstloW
REPORT DIRECTOR OF MINT.
45
Department
Male. Female. Total-
General .
Aaaayer'* .
Mel ter and refiner**..
Coiner's .
Engraver's .
Total .
277
13
AS
130
Percentage or Loss rN Meltino during the Fiscal Year ended June 30, 1000.
Ban, kings .
Duct .
Retort .
Unreiorted amalgam.
Miscellaneous .
0. 0085
. 0420
.(Ufa
.6206
MINT OF THE UNITED STATES AT SAN FRANCISCO, CAL.
During the fiscal year ended June 30, 1009, one change was made
among the operative officers of this mint, Mr. E. R. Leach becoming
melter and refiner, on August 4, 1908, succeeding Mr. C. M. Gorham,
who resigned. Mr. Gorham had given many years of faithful services
to the Government, having been assistant coiner, and coiner, in this
mint for over thirteen years, and melter and refiner for nearly seven
years- , , .
The manufacture of United States minor coin was instituted at this
mint during the year, and on November 27, 1908, the first 1 -cent pieces
ever made at the San Francisco mint were delivered by the coiner to
the superintendent. The 1-cent bronze pieces struck during the year
amounted to $14,240.
The following table shows by weight and value the gold and silver
deposited during the fiscal year:
1
Metal. PepoMu
Rode-
posit*.
Standard
ounces.
Coinage value
G0lf] . . . . . * .
7,544
4.9K8
233
2. 203. 903. 107
8, 186,212.28
541,004,504. 31
10,701,047.02
12,532
233
51,705,551.83
Of the above amount of silver bullion 8,127,302.80 standard
ounces of Philippine silver coin were received for recoinage for the
government of the Philippine Islands.
Abbay Department
The following tables show the operations of the department for the
fiscal year ended June 30, 1909:
Gold assay* .
0flrer assays .
8»W|) &KMV& . .
Told .
Proof gold manufactured
Proof silver manufactured.
Parting sliver manufactured
Cupel* manufactured
Loads rut and rolled .
51.091
2U.M7
216
2.B00
100.000
100.000
46
REPORT DIRECTOR OF M1KT.
Ingot melts were passed as follows :
PH1LIPPIXE COINAGE.
I 1 3 I ^ | .so .a
REPORT DIRECTOR OJ MXXT.
47
Hutu i\r> Ran* us Dmmuxr.
The me! ter and refiner received and operated upon gold and
silver bullion during the fiscal year, as follows :
. 3T MkS.U
. . . . .
The same officer operated upon the following minor coinage metal:
SET r
iS^tSic iod t
bruiwoMt baBks
it, .
T*UL..
WmU<i
Ingot Huts Made
48
REPORT DIRECTOR OF MINT.
Bronze ingots for the coinage of American 1-cent pieces and
Philippine 1-centavo pieces were made this year for the first time,
no difficulty whatever being experienced in their manufacture.
REHNEBY.
The refinery operations were as follows:
COLD BULLION.
Standard
Sent torrflnn-y: ounces.
Bullion no charm... . 1.346. 101.061
Crude bullion, with charges . 1, 172. 585 831
Total . 2, 518, G87. 792
Returned from refinery:
Fine gold . . 2,385,061.799
Settlement metal. . 132,915.340
Total . 77777717177717 2.517,997.139
Wastage . . . . . . . . . 690.653
SILVER BULLION.
Sent to refinery:
Bullion, no charges . as .vu as
Crude bullion, with charges.. . . 1,123^782! 05
Returned from refinery: . . . ’ 2221 * 03
ToUL . .77777777 1,229,377.92
Eic*ss .
In addition to the fine gold and silver produced, 90,459 troy ounces
of electrolytic copper were recovered from the crude bullion and
scrap copper used m the refinery operations. As tliis copper can be
used for allov for gold and silver coin, and as an arrangement has
been made whereby the refinery will get credit for it, the production
of electrolytic copper will be a source of considerable income for the
relmery.
During the year we discarded the horizontal system of silver
refining for the vertical, which we find very much cheaper and more
satisfactory m every respect. ^
r^\lep0ftS afsa>rin^ less than 999 were sent to the
refinery and rerefined. The large excess in silver is due to the recov¬
ery of silver from these deposits.
SWEEP CELLAR.
There were gathered in sweeps 292 barrels contain^ riqsqo
standard ounces of Kold and 5,407.52 standard ounces oTTifver
Coiner’s Department.
4,959, 3SH.800 ^
of silver, and I 316,474.60 troy ounce; of wpper °UnCeS
2,839,G66.MTstandar«Irouncesno°^oWncoii1Urinf j“ Same peri°d
BEPOBT 1>I RECTO B OF MINT.
49
Of the* above, 557,147.86 standard ounces in silver pesos were
coined for the Government of San Salvador, and 8,775,739.16
standard ounces of silver coin, in pesos and subsidiary, and 654,102
troy ounces of copper were coined for the government of the Philip¬
pine Islands.
The following table exhibits the coiner’s deliveries for the fiscal
year:
Odd:
Doubt* eaglea.
Total .
UllTcr
Half dollars ...
Ouart/r dolian
Dimes .
Total
Minor: 1 cent
Total
I 1'iKU.
Value.
2 540. DUO
162,100
H2.0UU
too.wu.ouu
1 621,000
410.000
2,764.100
52, SI] , UUU
662,000
mo. ooo
L0OQU0O
2M.0U0
146.000
100,000
2, 142.000
620,000
1,424.000
14.240
6.360.100
63,371,240
SAN SALVADOR
SUver: hmot
(Miru
PHILIPPINE ISLANDS
Sllrer
Peaoa .
14.646, »44
1,002.000
706.000
1.740,000
Ptmt.
14,646.044.00
546,000 00
14] , 000.00
50 Lev oa . . .
20 centavos. .
10 r-cntuvcM . . . . . . . .
174.0U0.U0
Total . .
16,003.944
16,407 944. 00
Minor- l oen taro . . . . .
3,024.612
30.246.12
The number of pieces coined aggregated 29,051,826. The coinage
of gold for fifty continuous working days amounted to $51,382,500.
The percentage of coin produced from the amount operated upon
wa>: Gold, 58.47; silver, 57.17; copper, 56.15.
From the operation on gold there was an excess of 2.367 ounces
and from the operations on silver a wastage of 9,391.13 ounces, or
58.55 per cent of the legal allow ance.
A few months’ trial of the new water-cooled rolling mill, which
was installed during the year, has demonstrated that this roll is
a great improvement over the old machines in lessening the vibra¬
tion and noise, formerly so objectionable, and in increasing the
accuracy of the work. The continuous flow of water keeps the roll
cool and at an even temperature, thus preventing the expansion that
w’os so hard to guard against under the old methods.
The bronze coins manufactured at this mint during the year were
made on tlie silver presses. Tw o newr presses for bronze coining are
now being installed to handle this class of work.
19711 — 10 - 4
50
REPORT DIRECTOR OF MINT.
NUMBER or EMPLOYEES.
The total number of employees in this mint at the close of the
fiscal year 1909 was 237, distributed as follows:
Deportment.
Male. Female. Total.
Melter and refiners .
Coiners _
85
14
61
14
61
76
The number of employees during the year approximated 311, but
n June 26 men and 48 women were furloughed.
VISITORS.
Dunng the year 51,038 visitors were shown through the mint.
Percentage or Loss in Melting Gold Deposits.
Kind of metal melted.
Weight before
molting.
k Loss In
melting.
Percent
of loss.
***** rear nUn tg /mm SO, 1007.
Ban and kings . . .
Dust . .
Grott ounces.
K.\64S. 15
19,392.90
Gross
ounces.
293.74
0.0U10.I
Miscellaneous . . .
Unretoned amalgam . .
38, 212. G1
25.405.08
1,972.84
830.45
! 05162
. 08268
6.273.64
3,585.97
. 67998
PMoal gear mrftii# junt X, ISOS.
Bare and king*
Dart . T... .
Retort . .
370,932.44
.
454,669. 20
19. 022.61
320.46
714 02
,00114
Unretorted amalgam !!"!.!!!““!” .
::::::
49,420.93
109.345.20
1.658.84
2,493.56
1.274.73
923.69
.05044
.01165
.50250
BlnudUu^
Dust _ ... .
Retort . . . .
634.612.78
.
702.772.93
21.872. 48
756.82
.00107
Unretorted amalgam. .!!!!!!!!!!!"” . .
!!!!!!!!!
48,600.87
78,82b 23
2.540.85
2, 427! 62
1.362.02
1.406. 10
.04995
.01727
.55301
mint
..»* » „„„ „ mw _
at the
Gold...
Silver..
Redo-
poalts.
Standard
ounces.
Coinage value.
844
73
917
1,452,917. 190
W82, 573. 14
1,090.667 .26
REPORT DIRECTOR OF MINT.
51
There were purchased over the counter 2,745.417 standard ounces
of uncurrent domestic gold coin, of the face value of $51,793.50 pro¬
ducing in new coin, $51,077.53, showing a loss in recoina^e of $715.97;
and 123.33 standard ounces of uncurrent domestic silver coins, of
the face value of $157.30. producing in new coins $153.44. showing a
loss in recoinage of $3.86.
The Treasurer transferred for recoinage uncurrent domestic sub¬
sidiary silver coins of the face value of $85,425, containing 63.209.40
standard ounces, producing in new coins $78,643.11, showing a loss
by wear of $6,781.89.
There were deposited 127.777 standard ounces (unrefined) do¬
mestic bullion, producing in gold coin $2,377.24.
There were deposited 1,468.88 standard ounces (unrefined) silver
domestic bullion, producing $1 ,709.24.
There were deposited 41.679.317 standard ounces (unrefined) gold
foreign bullion, producing in gold $775,429.15.
There were deposited 21,995.43 standard ounces (unrefined) silver
foreign bullion, producing $25,594.68.
The following table shows the countries from which the bullion
was received :
Gold.
Silver
CoODtTT.
Standard
{ ounce*
Coinage
value.
Standard
ounces.
Coinage.
value
Mexico.
Nicaragua .
Honduras
Guatamaln .
Colombia. South America
. 1 448.621
39, 50* 130
172. 767
. 1,542 373
. 19. 417
*8,34*43
734,997 W
3,214 27
28, 509.27
361.25
233SS 1
$168-64
25.229.56
46 84
144. 72
4.72
Total . . .
41,679.317
775, 429 15
21.995 43
25,59168
Foreign gold coin containing 262.173 standard ounces of the coinage
value of $4, 877. 64 and foreign silver coin containing 19,658.50 stand¬
ard ounces of the value of $22,875.34 iu standard silver dollars was
received.
Gold bullion amounting to 3.069.596 standard ounces and coinage
value of $57,108.63, and silver bullion amounting to 6,469.1 7 standard
ouuces and coinage value of $7,52S.39 in standard silver dollars was
obtained from jewelers’ bars, old plates, etc.
Percentage op Loss in Melting.
Bant and kings.
Tins! .
0 01080
mm
Umwturtod amolgam
Miscellaneous . . .
The number of employees during the fiscal year were
(the superintendent and operative officers not included):
12101
0CKJ7
* as follows
Department.
Male.
Female
Total.
General . . • . .
27
7
34
Assaycrv . . . •
Metier and refiners .
3
12
3
12
Coiners
24
37
61
Total . . . . .
66
44
no
52
REPORT DIRECTOR OF MINT.
Asrayer’s Department.
The following is the assaver’s report of the fineness of the silver
and gold ingot melts passed during the fiscal year 1900:
OOLD INGOTS.
800. 0.
800 1.
900. 2.
SILVER INGOTS.
*» 1
3
N99 4
iW 5
S99.7 ..
NB8 8.
900 0
Total..
C ondenmed
Number op Deposits, Purchases, and Bars Received and Assayed during the
Fiscal Year 1909
Stiver. Total
Deposits.
Purchases (fine ban) . . .
Mini bars lasuoil..
Inrot melts
Matter and refiners’ mass melts
Superintendents' bars
Coiners’ pnUn ban .
Moltex and refiners’ Rraln ban
Assayin' bon.. ...
Meiter and refiners* fine malts.
Mint bureau samp levs
Trauslor orders
Sweeps .
Total.
1,000
12
2
12
3
■■'i-
1.033 1.
818
1.000
51
23
3
17
2,700
Meltkr and Repin er b Department.
The me Iter and refiner received and ODerated nnnn ifio o.,i
bulUon* and retSm^d a^the Ltflem^t
rncl0-6^“d^X8^n^ f surP,us "f *.SXrt
ounces of silver and returned 4'297>6S7-35 standard
ounces, showing a°*ain of401 so f SO, 704.95 standard
of sweeps there ter . ,btaiu« d fiS UrI ^ T3"* Krom 64 1>«rrels
2, 833.6$ standard ounees Ser ^ °Unces ot «°ld and
downed by the uisayer fasWlows:61'8 and the nurllbor «»-
Oold ....
Sih-er.
Total.
Items.
REPORT DIRECTOR OF MINT.
63
fine roUl..
Fine silver
MooamelU .
Gold depoeiU .
Superintendent's l«n
Melts Mage duking the Year.
Sliver deposits ...
Grain bars _
Granulations . .
Miscellaneous. ...
REFINERY OPERATIONS.
The weight of gold and silver operated upon in the refinery is
as follows:
Gold bullion
Bllver bullion.
63,(134.790
126.064.44
Amount of bullion received from the refiner}’:
Item*.
Standard
<*uni •• i
Gold bullion .
Sliver bullion.
53. 906. 416
126.064 44
Thus showing loss in gold of 28.383 standard ounces and gain in
silver of 913.21 standard ounces.
Silver bullion on which charges were collected contained 35,742.62
standard ounces; silver bullion owned by the Government on which
there was no charge contained 89,408.6rHtandard ounces.
Coiner's Department.
During the fiscal year the coiner received and operated upon
4,246.412.60 standard ounces of silver and 14,770.900 standard ounces
of gold.
He manufactured during the same period 2,386,574.875 standard
ounces of silver coin, valued at $2,969,300, and 9,191.250 standard
ounces of gold coin, valued at $171,000, aggregating 10,689,600
pieces, as shown by the following table:
54
BEPORT DIRECTOR OF MINT.
The percentage of coin produced from the amount operated upon
was, silver, 56.20; gold, 62.22.
At the annual settlement of his accounts it was found that there
had been a wastage during the year of 1,037.075 standard ounces
of silver, being 24.42 per cent of the legal allowance, and of gold
0.813 standard ounce, being 11.008 per cent of the legal allowance.
MINT OK THE UNITED STATES AT DENVER, COLO.
The standard weight and value of bullion received during the
fiscal year 1909 was as follows:
Total..
£
Deposits
and pur¬
chases
Rede-
posiLs.
Standard
ounces.
Coinage
value.
3. M3
1.434
1,306
1.862.127.862
1,524,636.63
*34,644,239.27
1,774,122.61
|
1,200
. 1
36.418,361.88
Domestic bullion, unrefined, carried 496,239.124 standard ounces
gold of a coinage value of $9,232,355.79, and 334.906.50 standard
ounces silver of a coinage value of $389,709.38.
hrom chlorination and cyanide plants were received 365,537.969
OUIK;es ^old of a coinage value of $6,800,706.39, and
17,oS5.oL standard ounces silver of a coinage value of $20,579.51.
Purchases for subsidiary silver coinage aggregated 1 003 64° 72
UnnA i o c:oimT ';al ue of $1,167,875.16 in standard dol-
SI, 248, 700. 12 in subsidiary silver coin.
Kedeposits by l nited States assay offices amounted to 995,471 779
IK'fKjV; «,°U,n'Pj £?d of 11 coinage value of S18.520.405.19. and
TLnrn'61 OUI?ccs silver of a coinage value of $190,425.15.
# purchased over the counter during the year gold and
siher coins of a face value, respectively, of $552 and $32 50 and of a
coinage value of $511.52 in gol'd and $34.88 ^^0^^^ ^^
PERCENTAGE OF WEIGHT REMOVED IN MELTING.
J&.tss K - *** — rf i.
Description .
Gold:
Bus. .
Retorts .
Dust . ' , *
Gold exchanges _
Miscellaneous. ...!!]["
Silver;
Dus.. .
Retorts .
Dust .
Silver exchanges
Miscellaneous.....
Weight be¬
fore melting.
Bose re¬
moved.
Per oent
removed.
Ounces.
Ounces.
710, 084.69
2, 360. 62
0.0033
184, 927. 05
2.643. 74
.0142
2,008.76
114.20
.0423
031.58
1.81
.0019
6,267.28
62.50
.0118
275,703.40
2,551.39
.0092
27,000. 76
572.70
.0205
100.54
2,236.68
14.84
41.35
.1354
.0184
2,508.28
53.73
.0306
REPORT DIRECTOR OF MINT.
55
The main hall* and stairways of this mint building have l>een very
handsomely decorated, the designs being highly artistic, and several
mural paintings typical of mining, manufacturing, and commerce,
reflecting exceptional talent in conception and execution on the part
of the artist, adorn the vestibule and corridor at the main entrance.
The elaborate carvings of patriotic designs on marble slabs over
the main doorway and 13 windows have been completed.
New. and what are believed to be highly effective, ventilating
devices have been installed in the refinery.
During the year 91,954 visitors witnessed coinage operations from
the balconies.
OFFICERS AND EMPLOTEE8.
The number of officers and employees in the mint at the close of
the fiscal year w as as follows :
Department.
Women. Total.
General .
Am yer's .
Me Iter and refiner's.
Comer's .
Total .
Amatth b Department.
The operations of this department during the fiscal year 1909 were
as follows :
rupU* oper-
GoM Sliver Total.
5.104
622
5,72*
32
U
43
7
I
10
792
792
144
676
620
301
114
415
510
TV
1.247
S ..
3
519 ..
519
23 ..
22
6
0
JO
28
48
24 ..
24
4 .
4
14
4
LB
14
14
28
5
6
10
130
107
237
Deposit* .
Exchange bars .
Return ban . .
Silver ban (special purchase i . .
Anode melts .
Mint fine melts .
Ingot tneiu . . . .
Consolidated melts .
Experimental mm pies .
Bullion aamv samples .
Copper ban . . .
Mater and refiner's grain ban . .
Coiner * grain ban .
Superintendent's grain ban. . .
Aasjer’i grain ban. . . .
Sweeps lots . .
Special w»r mm pies .
Forest Service uan .
Total .
Number op Actual Assays Made.
Gold.. . .
SUver . . . .
Sweeps, lota, and preliminaries. . .
Poraet Service . . . . . . . . . . .
Ounces of proof gold male . .
Cupels made . .
Lead wit and rolled
M.Ml
22.491
640
145
46,000
46,000
HHIMf
56
REPORT DIBECTOB OF MINT.
FINE GOLD DETERMINATIONS.
The reported finenesses of the refined gold melts during the fiscal
year 1909 were as follow's:
INGOT FINENESSES.
The reported finenesses of the gold and silver ingot melts during
the fiscal year 1909 were as follows:
Fineness
Number
of melts.
Fineness
Number
of melts.
Gold
SUver— Conti nued .
W.S. .
30
808.9 ......
78
899.9.
166
889.0
136
900.0
29S
899.1 .
77
900. 1 .
25
889 2 .
67
899.3 . .
70
509
899.4
34
Kernel tel .
1
889 5
25
899.6
33
Total ... ....
510
889. 7
16
889 8
13
SUver
899 9
4
88*8. .
23
900.0
3
88*7. ...
54
8BR.8 .
104
Total
737
Melter and Refiner's Department.
The melter and refiner received from the superintendent during the
fiscal year 1909:
GOLD ACCOUNT.
In bullion. .
Returned prior to settlement
Returned at settlement
Surplus in icokl recovered
Standard
2.961,838 4X7
2, 716. XX. 627
246, 2UB 592
- 2,962.536.219
MLVKR account.
In bullion. .
Relumed prior to settlement
Returned at settlement
Surplus In silver recovered
2. 766,47a 74
301.302.66
2,966.357 37
2,967,77X40
1,416.03
The surplus was recovered from unreported fractions of assays,
from the difference between standard and actual fineness of ingots
delivered, and from fractional gains in weights of deposits
REPORT DIRECTOR OF MINT.
57
The following melts were made:
Gold SDvrr.
Deposits. .
Anodes .
Cathode Ingots.
Sweats .
IngoU<
Mint bars
Slimes .
Settlement bar* .
Miscellaneous
Total
. 4,176
623 .
4.7M
. •; ■ . m
676
S2D
. . 1 so |
25
76
W6
•St
. !!'*!". I . ** 1 1 sio
737
1,247
. sio
114
4_M
M0
650
20
2b
46
• -
176
176
—
s. are
- r
1,208
1.(93
*,064
Ingot melts condemned : None. Remelts: <loki, 1. silver, none.
The sweeps cellar extracted 1 ,436.204 standard ounces of gold and
3,199.24 standard ounces of silver, and produced 974 sacks of mill
tailings which contained 324.562 standard ounces of gold and 1,949.86
standard ounces of silver.
Refinery operations, covering a period of nearly ten months, were
as follows:
oou> aocduxt standard.
Delivered to the refinery . . i <k'a iii'ni
Returned prior to settlement « at: iK»
Returned at settlement In bars . . '
Relumed at settlement In sweeps . . . - • _ _ _ ,
Surplus In gold relumed .
mlvfk Aocorvr.
Delivered to the reftnrry — t w
Returned prior to settlement 10b’21S.7S
Returned at settlement In bars. ’&*i qj
Return at settlement In sweeps . . |fk
257.77
Loss in silver operations . . .
The refinery also recovered 39.35 ounces of sponge platinum and
1,352 avoirdupois pounds of electrolytic copper.
E askings of Refinery.
Charges collected
Surplus bullion recovered . .
Platinum .
Copper .
Total. .
Coiner’s Department.
During the fiscal year 1909 the coiner received from the superin-
ndent 2 SI 2,280.060 standard ounces of gold, making therefrom
455 qqq in coin, on which there was a wastage of 52.538 standard
ounces. 'being 3.73 per cent of the legal allowance.
During the same period the coiner received from the supermtend-
ent 3 451,574.05 standard ounces of silver, making therefrom
*2 S50.000 in subsidiary silver coin, on which there was a wastage of
1 >01. 5* standard ounces, being 34.81 per cent of the legal allowance.
58
REPORT DIRECTOR OF MINT.
The following table shows the denomination, number of pieces,
and the value of the coin made.
Denomination.
Gold:
Doable eagles. .
.
Silver:
Lialf dollars . .
Places.
Value.
401,250
958,000
3,570,000
**,025,000
9,580,000
17,850,000
4,929,250
35,455,000
780,000
7,968,000
4,680,000
390,000
1,992,000
468,000
13, 428, 000
2,850,000
18,357,250
38,305,000
The per cent of coin produced from the amount of ingots operated
on was: Gold, 67.76 per cent; subsidiary silver, 66.37 per cent.
ASSAY OFFICE OF THE UNITED STATES AT NEW YORK, X. Y.
The report on the business of this office for the fiscal year 1909 i9
as follows:
Bullion received.
Deposits.
Rede-
posits.
Standard
ounces.
Coinage value.
Gold. .
10 567
*59,735,341.67
5,682,338.76
811 ver .
3,210, 774. 615
Total...
4, SS3, 286. 60
20
11? run a •>
417, OoU. 43
0-19
The gross weight of the above bullion was 7,597,984.99 ounces, a
decrease from last year of 4,223,140.42 ounces.
I he value of the foreign gold bullion and coin deposited was $1 1 ,551
J9', a decrease from last year of $67,637,342 35
v~Ve-i)f tl)e domestic gold coin and bullion deposited was
S4\lS4,-91/3, a decrease from last year of $4,419,350.96.
lhe sources of domestic gold bidlion and coin were as follows:
!n.Un.‘.ted 8totrs an'1 Trrrllorl«- • •
From Jewelers, bsurs, plate, etc. . . .
From icdeposited bullion .
From United state? gold coin of light weight . .
Total .
*6.430,774.21
37,415,804.31
3,801,527.36
203.70
535,982. 15
. . 48, 184, 291 73
Tliis statement shows a decrease compared with last rear in the
amount of gold bullion received from private refineries of *4 151 >40 1 1
and from United States §old coin of 'light weX of $ >50 0TO l'r>
gsjir
tained iniinTb^ 2SSZS2& C°n'
ffEf and*<9sT*
made at the United States 4vX.’dM, £ i).^ ba"
REPORT DIRECTOR OF MINT.
59
The imparted bullion received during the year has been trans¬
mitted to the United States mint, Philadelphia, Pa., for treatment,
as the parting operations have not been resumed during the year.
The surplus bullion recovered by the melter and refiner in his oper¬
ations was 735.98 ounces, fine silver, and he incurred a wastage of
110.354 ounces, fine gold.
The amount of bullion delivered to and returned by the melter
and refiner to the superintendent during the fiscal year 1909 was as
follows :
Delivered to Upturned by
Item* melter and mellcr and
refiner. refiner.
Standard o: Standard <w.
Gold . . 3.305, RUNM 3,305,281. 1*8
Silver . 5,024. 310. 39 5.025,128Llfi
The grains and fluxes from the deposit melting room yielded
$7,483.61, the sweeps (54 barrels) $5,527.05.
There were stamped during the year 47,434 gold bars and 13.379
silver bars; previous year 50,903 gold bars and 15,451 silver bars.
Gold bora issued to depositors ol bullion lor domestic use. . 13,561,870.67
Gold bars exc hanged lor pold coin for domestic use . 18,968,029.63
Total (cold bars Issued for use in the arts, etc . . 22, 529, 90fi 30
showing an increase of $2,335,601.64 compared with last year.
The value of gold bars exchanged for gold coin for export was
$17,390,896.26, lieing a decrease compared with Iasi year of
$23,408,291.70. The income from the exchange of gold bars for gold
coin was $16,692.84.
The force employed in this office at the close of the year comprised
77 men and 2 women, including the superintendent, assayer, melter,
and refiner, and others distributed as follows:
General department . . . . . 27
Melter and refiner’s department . . . . S
AssayeCs department . 13
Total . . . . . . . 7®
Xo actual operations on the new refinery building have taken place
during the fiscal year ended June 30, 1909, but operations are now
under way.
Assayrr’s Department.
There were assayed 10,557 melts of gold deposits and 2,375 melts
of silver deposits, a total of 12,932 melts, involving 64,790 assays.
The fine gold and fine silver melts assayed were about 462, and the
fineness was stamped upon 47,434 bars of gold and 13,379 bars of
silver, a total of 60,813.
Speciul assays numbered 898, being largely samples of articles of
jewelry and manufacturers’ samples.
Assays were made on 155 barrels of sweeps and on 140 consoli¬
dated melts for shipment to the United States mint at Philadelphia,
Pa., with the usual incidental ones for the melter and refiner, etc.
All proof gold, proof silver, and cupels used were made in this
department.
60
report director of mint.
Melter and Refiner’* PirurmENT.
The melter and refiner received during the fiscal year 1909 the
following metal:
Grass amount SianJard poM Standard sUvar
Settlement mrul. June 30. 1909. 3*0. 770. 78 M.VRS4R
Gold deposits July 1. 1908. t© June 30. 1900 .... 12 1.177.®! *73
Silver deposits Julv 1. 190S. to June SOl 19® 1082.334.97 » wC «?
8GverfHm*a<M . 1 JJ0.J7B80
Dfpcsii melting-room grains and flairs firs*, second,
and third quarters. . :ODHO
Total . 7 918.764.73 E3D5.40B.SM
HO.E34.OS
270 ste*
E169 94
1.443 304.70
The melter and refiner returned during the year the following:
Items. . Gold. Stiver.
Sweeps .
Settlement. June 30. 1900
Bars .
Sweeps .
Total .
1.308 243 55?
«C!S.S2S
4 981 44SL 13
L48
02,006.34
151 31
There were received and melted 10.557 deposits of gold and 2,375
deposits of silver, producing 47.434 gold bars. 10.S57 Une silver bars,
2,522 mint silver bars, and 14,472 unparted bars, containing the
following standard ounces of gold and silver:
Kind of bar.
Gold
Silver:
Fine . .
Mint
Vnpartrd.
Standard at.
47.434 3.144 (BE
10.837
2.SE
14.472 1.0jtf.?ia<M)
2.219. 224. S3
l.ar 961.36
73.265 8. 308. 243. 352
"ere re,u?Id4fr?m the ami delivered to the superin¬
tendent as, consolidated unparted mint bars: Gold 302 6 *4 9‘'9
standard ounces: silver. 243.265.41 standard ounces
In the settlement of June 30. 1!M>9. there was a wastage of 1» > 616
Sudani ounces of gold and at, excess of SI 7.76 sttmUnl otlnTes of
The percentage of loss in melting gold deposits was as follows:
■»-2EMS
1906. »• ,9Q>
Bars and Amps
Dim .
Retort
Mut'd coin..
United Stairs oatn
M lace] lorn >oun .
aOKTSS
4. 64UVI
16419
07912
1.63110
a 10LN3
4 U*>S<
3 94.tr
REPORT DIRECTOR OF MINT.
61
MINT OF THE UNITED STATES AT CARSON, NEV.
(Conducted as an assay office )
The value of the deposits at this mint during the fiscal year 1909
showed an increase of $841,608.97, a gain of over 47 per cent over
those of the previous year. The value of the gold deposited was
$2,552,309.07, and that of silver $50,380.44. Nearly all of this
product originated in Nevada. California contributed out 3,820.253
ounces of gold and 1,391.43 ounces of silver, w’hile 30.683 ounces of
gold ami 1.77 ounces of silver were received from Alaska. The
greater part of the Nevada product originated in the Goldfield
district. , , ,
Deposits of bullion to the number of 1,052 were received during the
year. This was an increase in number of 182 over the previous year.
Seventy-one assays of ore were made, embracing 17 for the Depart¬
ment of Agriculture and 3 for the General Land Office.
The operations of the mint required a total of 5,330 assays. This
number includes deposits, mass melts, bullion and ore assays for
gold, silver, copper, and lead.
Percentage of Loss in Melting.
Description
Fiscal
year
1009.
liars, kings
Dust .
Retort .
Unretorted amalgam
Miscellaneous.
0.0080
.0857
.0840
.0442
.1403
v , , - , The heftVT l088 in melting bom. kings, is accounted for by the fact that a large percentage of the
Eight persons (including the assurer in charge) 7 men and 1
woman, comprised the entire force for nine months of the year, and
1 man wras added for the last quarter.
The following table shows the amount of deposits, earnings, and
expenditures, and the percentage of net expenses to deposits.
Deposit*: .
Silver '(i-iinw In .urndard dollar,)
. $2,552,309.07
50,380. 44
Poirtmtttgi^of net expense* to deposit*, 6.32181.
12.002,089 51
4,010.25
12.988 00
ASSAY OFFICE OF THE UNITED .STATES AT BOISE, IDAHO.
During the fiscal year 1909 there were received at this office 1,697
le nosits of gold bullion, all of domestic production. The States from
whicii deposits wrere made are California, Idaho, Montana, Nevada,
Oregon, Utah, and Washington. No silver bullion or coin were
received for ossav. , .
The amount of deposits shows an increase over those of last year ot
$202,219.18.
62
REPORT DIRECTOR OF MINT.
The weight before melting of the bullion received was 85,252.51
ounces, and after melting 81, 766, the average loss in melting being
0.0409.
Mass melting for the year showed a loss of $.‘>1, but there was a net
gain on shipments to the mint of $20.10.
Percentage of Lonh in Melting
Bars and Ungs. .
Dust
Retort . . .
Miscellaneous . . .
Amalgam . . .
Description.
Flail year
| ending
i December
31, 190K.
Year end¬
ing June
30, 1909
0.0173
.0695
.0685
.0286
0S31
.*6701
. 1 '
In addition to the assaver in charge there are 9 men employed at
this institution, viz. a chief clerk, clerk, 2 assistant assayers, an assist¬
ant melter, 3 laborers, and a night watchman.
The following table shows the amount of deposits, earnings, expendi¬
tures, and the percentage of net expenses to deposits:
Deposits.
Ooid .
Silver (coinage value In standard dollars; .
Earnings .
Expenditures .
Percent age ol net expenses to deposits, SO. 71W8
$1,047
Sl.0h2.615.98
4,652. 76
13,310.24
ASSAY OFFICE OF THE UNITED STATES AT HELENA, MONT.
deposits^ ll'<> fiS< al ■'<'ar 1909 tl,ere "ere received a( Oil's office 894
N umber of assays made . . .
Number of cupels manufactured 4.040
Inquortatlon silver manufactured 9.000
Total weight of deposits before melilnt ounce* 144
Average per cent of tau in melting. -do. ... 144,065.31
•04701
fifty-two mass melts were made from 704 bars, weighing ->8 901 5fi
ounces, valued at $443,631.93. “8,yui,{)0
Cost of handling bullion was SO. 1257 per ounce
fiscal year the foUowmwT*, recei'’‘,d ,his institution during the
, i i 'L 'f «- i?> K *“sses a“d. Kalns we«> sustained :
9 l m the Keneral department.
accounted ‘Wy^SRadva“taJeTt,°f *7-13 "f rd“ “"d -
weighing the clips from 894 deposits. S""*R °f ,he nee<Ue ln
sweeps 27.880 standard ‘ ounces °of pS^and uTund^d'®™'1 fr°“J
silver, coinage value of which was $5344)8 U !,tnnd,lrd ounc(“9 of
REPORT DIRECTOR OF MINT.
63
Origin op Bullion Purchased.
Gold.
Silver.
Origin.
Standard
Value.
Standard
Coinage
ounces.
ounces.
value.
Montana . .
92.947 153
11.729.249.00
43,541. 28
350,666.22
Other domestic . , .
5 607 .801
104.331.13
3.3*3.01
3.936.59
Foreign .
649.083
12.087.30
229.88
267.50
Foreign coin .
13. 141
244.48
.15
.17
Deposit melting room grains . .
27.880
318. W
14.00
16.29
Jewelry . ,
130. 6*8
2,431.40
39.32
45.75
Redcposits . .
11A 487
2.204.41
10.81
12.58
Total .
99,494. 843
1,851.066. 41
47,218.45
54.945.10
There were 13 persons employed at this institution, 11 men and 2
women.
Percentage of Loss in Melting Bullion During Fiscal Year ended June
30. 1909.
Description.
Weight be¬
fore melting.
Bars (cyanide) . .
Retort .
Dust .
Miscellaneous . . .
Total .
Standard oz. Per cent .
12S.ttCO.95 0. 04783
11, ITS- 22 .04139
0,750.30 . 0*503
232.84 .03714
. 144,006. 31 .04701
The following table shows the amount of deposits, earnings, and
expenditures, and the percentage of net expenses to deposits:
Deposits:
Gold .
Silver (coinage value In standard dollars)
,851,066.41
.945.10
Earnings .
Expenditures . .
Percentage of net expense to deposits, 0.95016.
SI. 906, 01 1.51
4.326.30
22,436.66
ASSAY OFFICE OF THE UNITED STATES AT CHARLOTTE, N. C.
During the year 1909 there were received at this office 229 deposits
of gold bullion, principally from the Appalachian Range.
In addition to the assays of regular bullion deposits, there were
made 165 assays of ores for which fees amounting to $472.50 were
received.
The weight of bullion before melting was 7,390.51 ounces and
after melting was 7,282.50 ounces, an average loss in molting of
1.46 per cent.
64
REPORT DIRECTOR OF lOKT.
.Statement of Los® is Malting Gold Deposits
Retort... *7*
Dm. . . .
. . 3ft. M
The forr-p of this office consists of 2 officers. 1 clerk, and 2 laborers.
The following table shows the amount of deposits, earnings, and
expenditures, and the percentage of net expenses to deposits:
. 1110.006.85
»e: ?o
sin. a
l.K
4 «M »
ASSAY OFFICE OF THE UNITED STATES AT ST. LOUIS, MO.
Tlie value of the gold and silver bullion deposited at the United
states assay office, St. Louis. Mo., during the fiscal vear 1909.
amounted to $554,588.53. showing a gain of SI 12.303.30 in the value
of deposits compared with the year 1908.
There were 314 deposits of bullion received, which were melted and
assayed: 47 special bullion assays made (fur which a charge of $2 each
was collected . and 35 special assays of ores for gold and silver (for
which a cl Large of $3 each was imposed *
-b„u'li"n "^<*1 30.805 86 troy ounces before melting and
30^,690.70 tro^ ounces after meltrng. an average loss of 0.00357 per
cent Hie foUo wing table shows the losses per cent m melting the
various classes of bullion deposits: ^
Fiscal v«ar
Jane JO.
1900
.
aoou>
000.1
01879
04612
awry
Emsp
I .
47
• to Jrpouu. Qsma.
S&34.5(*.U
676.73
3,706 06
REPORT DIRECTOR OF MINT.
65
ASSAY OFFICE 'OF THE UNITED STATES, AT DEADWOOD, S. DAK.
There were deposited in this office during the fiscal year 1909, 277*
deposits of gold bullion, all from the Black Hills of South Dakota,
valued at SI, 329, 965. 43, consisting of 65,368.316 standard ounces of
gold and 97,212.51 standard ounces of silver.
Number of bullion assays determined . . 334
Number of button assays determined . . . . 5
Number of ore assays, gold and silver, determined . / . 30
Number of ore assays, copper, determined . 3
Number of ore assays for gold and silver determined for Forestry Department . 108
Number of ore assays for tin for Forestry Department . 9
Number of ore assays for copper for Forestry Department . ... . . 3
Numher of om assays for silica. Iron, and lead for Forestry Department ... 3
Number of ore assays for gold and silver for l nited States ticologtcal Survey . 21
Number of ore assays for tin for l nited state, < ieolopleal Survey 10
Number of ounces of quart at ion silver manufactured 174
Number of cupels manufactured . . . 3 775
Total weight of deposits before melting (ounces). .. 157. 883.45
Total weight of deposits after melting (ounces; . . loo, 385.21
Percent of average lo,s in meltim: . . . .892
Average cost In handling bullion melted and assayed was *0 0371 per ounce
The deposit melting room grains for the year amounted to $659.97.
A loss of S92.8S in shipments to the mint, due to difference in weight
and assays.
Deposits classified as follows show the following results:
Kind
N timber
Average fineness
Odd Silver
Loss in
melting.
Bars, kings
Dust
Retort .
Old Jewelry .
0 W25
9105
<£77
4'd
0 473
IH
.919
.137
Percent.
0.87
The office force consists of 5 men.
The following table shows the amount of deposits, earnings, and
expenditures, and percentage of net expenses to deposits:
Items.
SUvcr (coinage valtto In standard dollars l. .
Earnings.
CrrccnUgc^f notaxpendl tuma to deposits, 0 4OJ00.
* I 210.795 57
113. 109.8ft
f 1. 329,986 43
2.372 88
7.728 24
ASSAY OFFICE OF T1IE UNITED STATES AT SEATTLE, WASH.
There were received at this office during the fiscal vear 1909, 2,059
deposits of gold and 2 redeposits.
Number of bullion assays determined .
Number of ore a-«av* aud analyses determined for the Foreatrv Department
Number of special bullion assays received
Number of return bars
Number of ounce* of quurUttlon silver manufactured
Number of cupels manufactured
Total weight of deposit* before melting (ounce*) .
Total weight of deposits after melting (ounces)
Average percentage loos In melting . . .
19711—10 - 5
o.ooo
205
21
15.000
1,075.323. 18
1,072,248.38
.285
66
bepobt dibectob of mint.
1 141 bars each below 300 ounces, massed into 58
gain m weight iroi
average gain of 0.(
Average cost of
per ounce.
^^neTloss of S381.30 resulted from the operations of the year, the
source of same being. as follows:
1. A loss of SI 76.32 in the melting department. I his loss is due
to the fact that depositors arc allowed lull weight for the granules
or pannings from each deposit, whereas these granules almost in¬
variably run lower in fineness than the bar and also contain more or
less slag.
2. A loss of $116.55 in the assay department, the greater part of
which undoubtedly arises from the clipping of bars.
3. A gain of $218.13 in the general department, this gain being
the result of two years’ accumulation of grains swept from trucks
and from the packing-room floor. This includes only bullion for
which the depositor has been paid, consequently should be shown
as a gain in tne general department. The truck sweepings accruing
from bars which have not been weighed after melting are not included
in this amount.
4. A gain of $1.56 in mass melts. The gain from the swing of the
needle in massing the 1,141 bars netted a gain of about $43, but loss
in assay practically canceled this gain.
5. A loss of $308.12 in shipments to the mint, due entirely to
difference in assays.
The loss in shipments to the mint was made up from the gains in
charges. The net loss in operations within the office, amounting to
$73.18, was made up from bullion recovered from melting-room slag.
The deposit melting-room grains for the year amounted to $664.33,
am°nnt was taken to reimburse losses.
The slag from the meltinir room for ions und 1009 was
male), but for seven r t,le end of thc ^cal year was 30
lonths of the year only 25 were employed.
REPOHT DIRECTOR OP MINT.
67
Statement or Gold Bullion Deposited at the United States Assay Office
. eattle, Wash., during the I-iscal Year ended June 30, 1909. *
California .
Colorado .
Idaho . .
Montana .
Nevada . ’’’
Oregon .
Washington .
British Columbia .
Yukon territory .
Mexico .
Mutilate* 1 domestic gold coin .
Foreign gold coin .
Jewelers' hors, old plate, etc. .
Deposit melting-room grains..
Unclassified (refined) .
Total .
Gold.
SUver.
Total coining
value.
Standard oz.
871,203.214
13. 294
107.039
.987
1,022.461
49.382
7.483
615.710
609.737
68,425.235
85,572.427
7.367
4.373
Standard oz.
120,358.76
52. 70
25.77
.25
319.60
372.65
1.94
64 21
285.86
0,750.53
20,351.21
17.86
*10,348,484.71
308. 65
2,021.41
18. 65
19,394.53
1,352.36
141.48
11,529.79
11,676.58
1,284,373.70
1,615,726.56
157.85
3 992
74.27
939.821
35. 573
3.596
291.54
5.33
17,824.20
068.04
66.90
1,028,621.691
8.039
151,898.30
1.96
19,313,901.13
151.84
1,028,629.730
151,900.26
19,314,052.97
The receipts from the different districts of Alaska are shown in the
iollowmg table:
Standard
ounces.
Circle . . . 3 434 qm
Cook* Inlet . a'971 ttu
Copper River . I! III! I! ! 1 1 ! I ! —
Koyukuk . .
Nome . . "
Southeast Alaska . .
Tan&na . .
, M3. 191
679. 542
9,422.104
2*4,387.566
9,904. 722
552,700. 099
871,203. 214
Coining
value.
*03,900.38
55,275.03
142,943.09
10,782. 18
175,294 96
5,290.031.26
185,3!*). 18
10,283,907.81
16,208,430.89
Standard
ounces.
770.66 i
495.01 i
848.88
109.44
643.95
11,188.24
1,907.01
W, 434. 07
Coining
valuo.
*806.77
576.01
987.79
127.35
632 96
36,291.76
2,289.58
98,261.(0
120,358.76 140,053.82
Statement of Gold Deposits from Opening op the Institution on July 15
1898, to the Close of Business June 30, 1909.
Number of deposits ....
Weight: . . 44,170
Troy ounce* .
Avoirdupois tom. . . . - 10,411,254.83
Coinage value . . . 356. 8
. .
Origin of the Foregoing.
Nome, Alaska, United States
Tanana, Alaska. United Slates . * . " *38,211,909.89
Balance of Alaska, United States' . 32,341 . 426. *7
. . . 7,712,758. 57
Total for Alaska. United Stales — -
British Columbia, Canada . . ••• 78,266,155.33
Yukon territory, Canada . 11,205,284.69
Washington, Oregon, and other States . ••• — 80,464,734.56
. 1,087,463.81
Total . — - —
. 177,923,098.39
report director of mint.
68
The following table shows the number of each kind of deposit
and the average percentage loss in melting each kind:
Description.
Number of
deposlLs of
each.
Average per¬
centage loss
In melting
during year
1,077
(ill
174
193
9
0.048
3 892
6.704
7.331
Retort
j^H HflllCO
The following table shows the amount of deposits, earnings, and
expenditures, and the percentage of net expenses to deposits:
Items.
Amount.
Deposits
Gold . .* .
Silver (coinage value In standard dollars).
Karninn .
Expenditures — .
Percentage of net expenses to deposits. 0 03923.
$19,137,29* 31
17b.S30.98
$19,314,127 29
25.503. 08
44. MO 29
As in previous reports, attention is again called to housing tills
office in a new building. Other assay offices doing but a fraction of
the annual business are comfortably located in buildings of their
own, and the prospect of a rapid increase in population and values
of real estate in this city would seem to point to this as an opportune
time to secure a location and erect a building.
ASSAY OFFICE OF THE UNITED STATES AT SALT LAKE CITY, UTAH.0
There were received at this office during the fiscal year 1900, 130
deposits of gold.
Number of bullion assays determined . 350
Number of cupels manufactured . . 7 000
Total weight of deposits before molting ouuc«, . 49.413.75
Total weight of deposits after melting. . do 49 295.40
Average percentage of loss in melting . " 0.239
These wore r6 bars, all under 300 ounces in weight, massed into
seven larger bars, the total weight of which was 1,958.30 ounces.
I he gam in weight from massing was 0.11 ounce, showing an average
of () 0014 of tin ounce on each deposit.
$0 31197Verage C°S^ handling bullion melted and assayed was
A net gain of $44.01 resulted from the operations of the year,
the source being as follows:
e V Jf88 °f $48.58 in the assaying department, due to the clipping
or mrs, and also to the fact that depositors are allowed hill weight
for the Krumi^s while the granules are lower in fineness than the
chips bar° ^ranu es urc delivered to the assaver and put into his
° Institution opened on February 1, 1909, to June 30, 1909.
REPORT DIRECTOR OF MINT.
69
2. Gain in shipments to the mint of $48.26.
3. Gain in massing bars of $14.33.
The deposit melting-room grains for the year amounted to $41.52.
Of the 130 deposits, received, the entire number were gold bullion
crude, and all ol domestic production, except one from Australia.
Statement of Gold Bullion Deposited at the United States Assay Office,
Salt Lake City, Utah, during tiib Fiscal Year ended June 30, 1909.
Alaska. .
Arizona..
California.
Colorado..
Idaho .
Oregon .
South Dakota..
Wyoming .
Australia . \ui7
Jewelers’ bars 9 ?an
Deposit melting room grains . .
Precipitation .
Total . .
Gold.
Value.
Silver.
Coinage
value.
Standard
Standard
ounces.
ounces
2. 002
$48 41
0.26
$0.30
8.581
150.65
3.87
450
47.238
878.84
.89
1.04
13.603
254.74
3.60
4 10
33.4H5
716 00
1.40
1.73
181,867 66
21,268. 10
24,748.44
33 54
L07
1. 25
184.60
L 12
L90
... 17,386 m
323, 474. 02
241 50
281 OS
3. 091
74.25
.45
.52
200 36
26
SO
2,035 46
19.27
22.42
2 100
40.75
1 64
1. 01
.027
17.25
27,412. 218
509,004.62
21,542.61
25,008.92
Total receipts, coinage value, $535,063.54.
All above unrefined. No refinery bars, and no redeposits received.
The last item, which Is shown as “Precipitation, was a deposit of
gold which was precipitated from solution found in the laboratory of
a coin sweater, who was arrested here. ...... .. ,
The following table shows the number of each kind of deposit, and
the average percentage loss in melting each kind:
Number ol
Description. deposits.
Average
loss.
. . 102
Pit cent.
a 132
3.866
L 27$
The number of employees at the end of the fiscal year was seven,
all males; but from March 15 to May 12, 1909, there were eight.
The following table shows the amount of deposits, earnings, and
expenditures, and the percentage of net expenses to deposits:
Items.
Amount
DePGo!d . . $500,004 62
$535,063 54
701.95
10,008.54
Silver (coinage value In standard dollars) . 25,068.92
Per cent net expenses to deposits, 2 85500.
70 REPORT DIRECTOR OP MIST.
SIHX1KT or OPERATIONS. WASTAGE, iXD LOSS, FISCAL TEAR 1909-
Thf institution* of the iijldi service consist of the coinage mints
at Philadelphia. San Francisco, New Orleans, and Denver; the mint
at Carson. mhich at present is conducted as an assay office: the assay
office at New York, which, like each of the coinage mints, operates
a refinery: and the minor assay offices at Boise. Helena. Charlotte,
St. Louis. Dead wood. Seattle, and Salt Lake City. Bullion is received
at the assay offices on the same terms as at the mints, except that an
additional charge of one-eighth of 1 per cent is made at the former.
Bullion purchased at the assay offices becomes the property of the
Government and is shipped to the mints at the expense of the Gov¬
ernment.
OPERATIONS.
The quantitv of precious metals operated upon in the different
departments of the mints and assay office at New York during the
fiscal year 1909 aggregated 27.292.233 standard ounces of gold and
74.02S.139 standard ounces of sQver.
The figures in the table following are the actual figures as obtained
at the settlement of the accounts of the officers in charge. The
figures in the article showing the operations of each mint or assay
office are for the entire fiscal year up to June 30
REPORT DIBECTOB OF MINT.
71
SILVER.
Legal
Institution and
department.
delivered «*««*«« Surplus. j££j£ £$&
by superin- mxm
"WSC tmdmt
Standard Standard Standard .Standard
on nett. ounces. ounces. ounces. - -
10.8fi6.Ul2. 24 16,302 0210,862,727.0510.337,026.10 .
0, 760, 863. 20 0,756.88 6,766,750.92 6,668,728.99 .
22,932,757.31 34,399. 13 22, 945, 207. 13*1©, 714, 157.21 12,449.82
18,466,408.61 18, 466. 40 18, 457,017. 48 17. 568, 00L 39 .
SEUSsi
Standard Standard
Philadelphia mint:
MelUr and refiner. .
Coiner .
San Francisco mint:
Melterand rehner.
Coiner .
N,WMrtSSJ,Si«r.. S 0.M6.B *.»«.«»• U "
Standard
Standard
ounces. Per cent.
5,2*4. M 32.465
1,123.37 16.627
‘9,391. i3 50- 942
Comer .
Denver mint.
Melterand refiner..
rv>lner .
4,4*0, . .
2,066,357.37 4,449 53 2,967,771 40 2,911,778.60 1*41G .03 . .. ... ... . ■ • —
3*451, 674.05 3,451 57 3,450,372.47 3,451,574.05 . 1,201 58 34.800
5,024,310 39 7,630.46 5,025,128.15 4,932,370.60 617 76 .
New York assay otfioe:
Melter and refiner. .
Total:
Melter and
refiner .
Coiner .
Grand total .
46.089, 124. 66 69. 133. 06 46, 098, 92A 50 42. 193,421. 77 15,085.43 .
32.921.278-55 32,921.20 32,908,525.40 31,834,717.03 . 12, .53.15 .
79, 010, 408. 21 102, 054. 92 79, 007, 45a 90
|74,028, 138.80 15,085.43 18,037 74 .
INGOTS MADE AND COIN PRODUCED.
The melts made for ingots and the percentage of coin produced
were as follows:
Gold.
Sllrer
Coinage mints.
Melts of gold percentage
Ingots of finished
coin pro-
Melts of silver percentage
Ingots. of finished
coin pro¬
Made.
dueed from
Con- Ingots oper-
dcruned. ated upon.
duced from
Made Con'J Ingots oper-
Madc. demned. ated upon.
Philadelphia .
417
47.29
1,839 2
10.850 38
469 .
737 .
68.41
57. 17
56.20
66.37
San Francisco .
New Orleans .
1,729
5 58-47
4 62.22
67.76
610
2,673
9 .
13,895 40
Total...
WASTAGE AND LOSS ON 8ALE OF SWEEPS AND GAINS FROM OPERATIONS.
The value of the precious metals wasted in the metallurgical and
mechanical departments was $23,833.52. A loss of $9,-63.9o occurred
from the difference between the assay value of the bullion contained
in sweeps sold and the amount received for the same, as described in
the following table.
72
REPORT DIRECTOR OF MINT.
Mint at-
_ Assay
Total.
• Items.
Philadel¬
phia
San New
Francisco. Orleans.
office at
Denver. SewYork-
Mclterond refiners' gold wastage .
Mel ter and refiners’ silver wastage .
.
32,752.62
1,119.85
585.14
3,211.80
310,173.93 .
. ...32,281.22
312,455. 15
2.752.62
2,112.42
6,513.33
9,363.95
Coiners’ gold wastage .
Coiners’ aib er wastage . — .
Loas on sale of sweeps .
Total . . 1
Paid as follows
From contingent appropriation .
From parting and refining appropria¬
tion . . .
Total .
. 3i5. 12
4,894.31 476.98
2,956 75 1,007 94
3077.45 .
656.90 .
1.381.83 705.63
7,600.41
18. 024.99 1,500.04
2,916.18 2.986.85 33,097.47
4.795.5 6
2,873.85
13,253.73 1,500.04
4.771.26 .
|
2,233.33 .
682.85 2,966.85
21,782.66
11,314.81
7.609. 41 18,024.99 1,500.04,
2.916.18 2,966.85
33,007. 47
The wastage and losses aggregated $33,097.47. Against these losses
there were gains arising from tne operations in bullion amounting to
$70,798.79, as follows:
Character of gains
Fiscal
year 190©.
Surplus bullion returned by operative officers . . |34 829 99
Precious metals received in grains and sweeps . . 32. 634.76
Gains on bullion shipped from the minor asaa> offices to the mints for coinage . 3,334. 04
Total . 70,796.79
Deducting the incidental gains on bullion from the value of the
total operative wastage and loss on sale of sweeps, there has been a
net gam in the operations of the mints during the fiscal vear of
$37,701.32.
RECEIPTS AND DISPOSITION OF GOLD BULLION, FISCAL YEAR 1909.
The receipts of gold bullion at the mints and assav offices aggre¬
gated $192,305,855.25, as shown by the following talble:
Deposited.
Redeposited.
Institution.
Uncurrent
_ United Slates
Deposits. coin truus- |
fenvd for '
recoinage
Surplus
bullion
recovered.
Receipts from
assay offices.
Total.
Philadelphia .
8an Francisco .
New Orleans .
•1,669.417 15 32, 127, 796. SI
38,006.4.14.51 6,846 61
890,870.19 .
» 31. 329. 87
M, 557. 28
*1.712 25
325.244,408. 14
2, 989. WvY 94
329,042,951.97
41.004.504. 34
892. 582. 54
34.ti44.239 27
59, 742,568. 81
2.552,309.07
1,851,066.41
1,047,774.02
110,095.85
New York .
Carson ... ...
Helena
Bob'
Charlotte . .
St. Louis.
16,104.446.82
59,735,341.67
9,551,871.90
1 810,547.72
1 047.220.42 . .
110,048.04
653,629.95 .
19. 387. 25
7,217 14
437.17
518.69
553.60
47.81
56. 52
M0 18
18,520.405.20
Doadwood.. . .
Seattle
1.216,155 39 .
553, 686. 47
1,216,795.57
Salt Lake .
19,136.634.47
509. 953. 87
061.84
40 75
. . |
iw! 137,' 29li. 31
509, 994. G2
Total .
143.382,572.10 2, 134, 643 42
34, Ida 45
46,754,479 28
192, 305, S55. 25
4 Of
* Of
Hiiuuu CJ, was pun on United Slates liehl-weleht ,.nh
this ainmint fo in on ’ n|H SUU» light-weight * olu I
this amount 39.40 was gain on shipment* to Philadelphia mint.
melted.
REPORT DIRECTOR OF MINT.
73
UISPOHITION.
The disposition of gold bullion contained in the above table is as
follows:
Institution. the mint for exchanged Coinage. Wattage,
depoailon. for coin
Total.
Philadelphia ... . *271,400 0(1
San Francisco 26, 704 ov
New Orleans — 15,384 0i>
Denver. 14. 184.42
*44. 1 40 54 *9, 000. 46V 95 *19, 723, 092 50 *30. 412 <U *29 0*19. ,YU 01
7,701.35 2, 307, Klft. 65 52.R3l.00U.no 10, 173. W 54,1/0,476.61
*i5,27i'71 L805.62'
10,610.29
New York . 3, .561 , 870. 67 20, 444. 833. 41 11. 609. 12 1*., 358. 925 k9
Carson . 1,059.78 2,617,537. M
Helena . 2.203 41 1,848,348 02
Boise . 1.049. 018 97
Charlotte. . 388 00 109.707.85
St. Louis . 637,313.04
Deadwood. 1,240,15a 11 ...
Seattle . ' 1,632 14 IK. 458, 238 33
8alt Lakr . 434,3*4 Ki
171,000 00
35. 455 , 000 00
20 60 205. 488 90
977 45 35, 480. 778 16
2,281. 22 60,379,010 *1
2.018597 *52
1 , 850,331. 43
1.049.018 97
110,095.85
537,313.04
1 . 240. 15A 1 1
18,459.86* 47
434, 396 73
31 91
I otal 3.894,627 2&j 46,764, 786 10 7*. 022 02 47.6417.aB. #10*. WO, 09*. *0- 43,91804206.618878*0
BALANCES, RECEIPTS, AND DISBURSEMENTS.
Balances of gold bullion on hand June 30, 190S, and receipts,
disbursements, and balances June 30, 1009, at the mints and assay
offices are shown in the following table:
Institution.
Balance on
hand June 30.
1908.
Philadelphia .
San Francisco .
New Orleans .
Denver .
New York .
*16,737.483.02
45,987, 659.68
2,070,007. 11
5.811.333. 18
7,868.296.01
135, 736. 88
84.887.82
38,785 26
• • ■ •
Deadwood .
50,421.76
Seattle .
Salt Lake .
1.140.812.31
Total .
79,971.247 42
Receipts dur¬
ing I he fiscal
1909
*29,042.951.97
41 004.504.34
892.582.64
34.644.239.27
59. 742. 558. SI
2,552.309.07
1,851. 006. 4 1
1,047.774.02
110,095.85
553.680. 47
1.210.795. 57
19, 137, 200. 31
509.994. K2
DlaburvcmenOi
during fiscal
year 1909.
*45.780.434.99
vi. ta»2. IO4.02
2.962,589.65
40.4.55.572.45
67.010 854.82
2.688.035.95
1.9:15,954 23
1,086.459. 2K
110,095 85
589, 420. VO
1.207,317.33
20. 288, 108. 02
509.994.02
*29,009,532.01
55.183.478 61
2ai.488.99
35, 4X0, 778. 16
00,379.610.31
2,618.407.62
1.850 551.43
1.049.01897
110.095.85
537 .113 04
1.240. 150. 11
18,459.897.38
434 364 *2
• 16.710.902.98
31,808.087 41
2, 750. 100. 66
4.974,704.20
7.231.244.61
00.418.33
85.402.80
37.540.31
SUOMI
27.167.22
1,826.211.24
75.629 80
192.309.655.25 272,277,102.67 200,616.875 « 65.600. 22*27
COST OF MAINTENANCE.
The deposits, earnings, and expenditures of the minor assay
offices during the fiscal year 1909 were us follows:
Carson .
Boise .
Helens .
Charlotte.- .
u^attlc . . . . . .
Balt I,ake City (since Feb. 1. 1909;.
Total .
Number
of de¬
posit.*.
Value of
deposits of
gold and
silver.
Earning*
Expend¬
itures.
Percentage
of net ex¬
penses to
deposits.
1,052
*3,002.689.61
•4,610.25
*12,988 00
0.32181
1.607
1,082 615 .98
4.653. 76
13,310.24
.79968
K04
1.900,011 51
4.32ft. 30
22. 416. 46
9501*.
229
111,063.55
1,166.00
4.494.29
2.99068
314
554. 5S8 5J
070.73
3,70*105
. 54«H
277
1,329,965. 43
2,372.88
7,728 24
4*1200
2,059
19.314,127.29
25,503 08
44,009.39
00923
130
535,003.54
791.95
l6.Otti.54
-• W-H
27, 430, 125. 34
44.100.01
125,401.21
74
REPORT DIRECTOR OF MINT.
FREIGHT CHARGES ON BULLION AND COIN.
The freight chargee on bullion shipped to the mints by the assay
offices and on coin shipped from the mints to the assay offices during
the fiscal year 1909 aggregated $55,756.69.
MOVEMENT OF GOLD FROM THE PORT OF NEW YORK.
The superintendent of the United States assay office at New York
has prepared the following tables, giving exports of gold through the
port of New York :
Statement or United States Gold Coin and Gold Bullion Exported from the
Port or New Yore to Europe during the Fiscal Year ended June 30, 1909.
Jolv 15 .
JuiV 31 . . .
OcU>l«r 20 ..
Oeto»«er27 . ..
November 4.
Novemt«r 1C.
December 2. . .
Decern I -m 11
Decern I *r 22. .
January *s _
January 12. .
Man L 9 . .
March X
March 12.
March 16. .
March 19. . .
Man h 19 . .
March 8
March 23
April 23
May 3
May 12
May 17
Do...
Mav l'J
May**
June 2
June 25.
June 2s.
s Total
Country.
i Amount
Prance .
. 11.040,000
England
325
do..
4,243
. . do .
7.275
.do .
3.820
do. -
3.915
France
1 504.025
do .
4.000,500
..do .
OW.OIO
Rate of
exchange.
S4.8715
4.W»
4.865
4 MS5S
4 SCO
4. MW
4.N675
4.M»
4 871
-do . 1,900,000
do. 3.AJ0.000
Enrland . i , oi, 000
Netherlands . 120
England _ . 2,000,000
do.. l.ouo.oou
do - 301.(00
do . . 3.UW.OO0
do... 5.300.000
-do . 750, 000
France 2,021.000
do . 1,147,493
do . “96,000
; * 1,034.000
.Netherlands . j, 000. 000
lYanre j 500,739
Netherlands . 80
8X5,000
•;--dO.. 977.000
Netherlands.. . 2,000,000
4 872
4 *75
4. 8X2
4-SX3
4.381
4.AS20
4.8X25
4.XX25
4.8X3
4.SH25
4.875
4. ST 55
4.5775
4 STS
4 878
4.87*5
4. 87X5
4.87*5
4 S.M5
4.881
<,914.515
Recapitulation or Gold Exports to Europe.
aanlOMtloo ' Ktiuv. Katfud. N.U*rU»d,
For^mroin".^.10 S3.3I0.0U) Sl2,3jt*. 325 St. 000. 170
gt^uK^0^'*^ 17,514, 767 l.JSoS ::
. . 19,253 _ . .
21,124.767 IS. 977,698 4,000,170
Grand total of exports to Europe
. S39.1U2.635
During the same period there were shipped to West Indies Mexico
Central und South America, Cuba, etc., the following: ’
U oiled States coin
Kun-tpri coin . 326,877,230
. 1,733,030
Tote) gold exports toother ports - -
, . , S3K.«tt2R0
« I rand total of gold exports -
. 67.707,915
REPORT DIRECTOR OF MINT.
75
The imports during the same period were as follows:
From Europe: From other ports ( West ladles, If ex loo, Central sad
U nlted states coins . ... . *2,607 . South America. Cubs, etc.):
Foreign coins . . 2.078,029 1 l nif«-d States coins . . $330,215
Bullion 2»i,9M Forelfnoolns 207,710
Bullion in ore, etc . 22,310 Bullion . 2,71*. 405
In ore and base bullion . 608.880
Total gold Imports from Europe. . . 2,339.93V | Total cold imports from otherports. 3, W0. 279
Grand total of gold Imports . . . . . . . 6,200,218
The copper matte exported during the same period is said to have
contained no gold and silver.
NET EXPORTS ‘UNITED STATES GOLD COIN.
The net exports of United States gold coin since January 1, 1870,
are as follows:
Period.
Imports Exports.
Jan. 1 to July 1, 1S70..
Flsodyear-
1873 .
1874 .
1875 .
1876 .
1877 .
1878 .
1879 .
1880 .
1881 .
1882 .
1883 .
1884 . .
1885.. .
1MH7. . . ! . . ' 5, 862. 80"
1888 . 6.181,512
1889. ........ 1,400.619
1890 . 1,949. M2
iwi’ . 2.824.146
17.325.783
t, 884 BIB
18,207,559
7,577.422
4 796,0*0
8.112,255
3.824. W2
3,352.090
1,4*7.231
10,384,250 Fiscally ear -Cor
55.491.7
40.391.2
35.661.8
28.706.9
59.309.7
27.642.8
21,274.5
6.427.2
4.120.3
1,687,9
1.741.3
29.805.2
4.802.4
12,242.0
2.345.8
5.400.9
3.550.7
3,211.3
4. 143.9
3.951.7
07,704.9
1899.
1900.. .
1901 .
1902 .
1003 .. .
1904.
1905
1906
1907
1908
1909
Imports. Exports.
. *15, 432, 443
. 6.074,899
. 30,790,802
10, 752,673
10.189.U4
. 57.728.857
40,590,947
7,779.123
R. 659. 856
3 311,106
3. 870, 320
1,519.756
6,780,607
2,230.399
35.251,921
44.445,402
44,929.518
4, 642. 690
*42.841.903
101,844,087
64.310,840
65.096,(09
77 789.892
23,046.566
8.402,216
27, 425,587
30,674.511
8.425.947
9.870,841
• 18.041.660
15.66-’ 424
54.409.014
30,573 572
22. <32, 283
36.346, 170
06, 126,869
4U9.746.891 1,101. 493.000
STOCK OF MONEY IN THE UNITED STATES.
On June 30, 1009, the stock of domestic coin in the United States
was $2,302,592,169, as shown by the following table:
Official Table of Stock op Coin in the United States June 30, 1909
Items.
he l’hillp-
fisoal year
Total .
L<’**I-niU»d States coin melted for reeoinap? (face value).
VniU*d States coin estimated to hare been used in the
arts . . . .
Not exports United Stole* coin, ftami year .
Total.... .
Estimated stock of coin In the United States Juno 30. 1909
i/«i if noted stock of coin June 30, 1908 .
Net imports United States coin fiscal year 1909
United Wire coin returned in transports from t
pine Islands not recorded at the ctutom-bousc,
fono . .
Coinage, fiscal year 1909 . -
Gold.
Silver.
Total.
$1 535.109,328
*715,615.505
2,006.683
*2,230.784,923
2.006,683
<>46,498
11,093 810
46.499
119.273,903
1,643,349,421
728,702,586
2 372 112,007
3,458,338
977,821
4.435,659
3,500.000
61,484,179
100,000
3.000,000
(.1,4M,179
<.v 1 1.1 517
1.1177 221
09.510,838
1,574,900,904
727,685,265
2,302,592,109
o Of this amount *18 200 were in tl pieces.
vroTx — The number of standard silver dollars coined to June 30. 1009, was 570,272,010. which added to
♦he Hawaiian dollar coinage 500,0110. plus the number Imported from the Philippine Islands. 150.000,
»nd the number roluriiod in government transports from the Philippine Islands, 491.930. equals 571,414.540.
Slnoo July 1, 1898, the number of standard silver dollars exported In transports has been 2 495,000, and
fine* |RS3 the numlier melted has Iwen 188.003 isee this report p. 11); and the number of Hawaiian dollars
TT, ^liod to June 30, 1909, has l»een 454. SIR. a total disposition of 3.137.821. leaving In the United Stall* on
juno jo, 1909, 568,276.719 standard silver dollars, and *1 VI 408.540 In subsidiary sliver coins.
70
fUtPOBT DlHECTOll 01T MINT.
Bullion in Mints and Assay Omc*i June 30, 1909.
nulllon.
Value.
■
|06.A(W,i77
Odd . .
Silver (coal)
fl.ftw.ww
71,136,006
Total
JtatAUjo STOCK, Junk 30, 1900, 1WHI, 1W7, IWIH, *nd 1900,
Coin and bullion.
June SO, IttOA
J into 1ft, lOfth. j Jun#*30, 1007.
J Ullff W, IOOH.
June 30, luoo.
Gold....
Silver.
||,3A7, SMI, IMi
llNil.SH.liM
U.471.1W.300 ' II 4»4l, 060.1*13
OWilAM.IWU 706,110,134
II n|6,l4ft,676
731,604.606
11, MO, 607,131
711,360,07?
Total
.• till ».M
j 1, 100,064, in 1 mtIhmm
2.338,736,170
2,171,117,304
OvtNvnamr or Goto and Silver in the United State*, Ji nk 30, 1909.
Ownership.
United Hi all's Treasury
Oold coin
and bullion
•llwr
dollars.
UllUwl Htittr* Tfruurr
< lor rer t llh-ntes uniat and
|J3n,S3.UM
1IM, 67 1.406
HE).
NttlToiiil bank* (June 23)
Nslioiml bunk* (for clnir
H |6, 006 440
477,717 ,«4
160,604,310
13,0. 40*
ln$-hmuc cerllflcntr-*) .
Private luniks and Indi¬
71.177,600
viduals
176. 316. HAS
60.106.403
Total.,..
1,040,607, 131
6AM, 370,710
Silver win and bnllloii.
Huhsldlary Silver
coin. bullion.
Total
•liver
Total Mold
ami silver
min and
bullion.
$27,070,740
16 .604 ,MM
$61,211,061
$377,437,036
in. 106,306
477.717.TJ4
30,007,791
1,393, 733, 773
179, $12, 101
. -
71, in. 600
tin. 140,416
171.111.007
660.607.796
160, 408, 640
6 604 SUN
713,360,073
2.173,817,304
Location or Moneys or tii* United States, June 30, 1909
Money. In Treasury
lu national In other
banks. June banks and 111
23, 1909. i lnuUUon.
Total.
MRTAI.UC.
QfM bullion
Sliver bullion .
Hold coin . .
Silver dollar*
Subsidiary silver win.
fttt .1441.337
6, AM. MM
976.AlW.AH)
4*1. JW.K19
37,070,748
*t»4 »Mt Kill
■ 12.S33.40S
10. 186. .90
$373 365. S*8
A9.HA.4UJ
110.14(1.416
$06.(94) 237
6. AM. MM
1.174, 900, 904
60S. 370.719
119.4tM.640
Total metallic. . .
1.670. 160 xn
3n.OM9.OOl
630.507,796
2.171,817.204
rtru.
l^nhtendrr notas mid). .
0,502. T4H
191.774 701
148. 343.600
340.081,010
Legal-lender noU-s (act July 14, UU0).
II AKA
1 . 30 11
4,213 (HH)
National bank note’'
J4.3KI.JiM
*67,109,191
ain.4J9.flln
089920, 076
Total nolaa.
30.966.003
J40.WUI.96J
7a). 970. 637
1 4Mn.HIU.O01
Hold certiorate*
37, 74D. 4 JU
3U.K4H. JM0
603. 169. 109
<
Silver leilllh tiles
0.«Mi,n7fl
13U.306, IJW
I 34H.612, 196
Total certlflcataa .
44.443.IHM
441. OM. Sib
931,671, AM
Qraud total .
94J.024.1M2
J, mil, 216, QUO
1,414,011,296
I
« Includes $73,577,600 gold f Ivorlns-iumw ccitithutr-
* Imludr* It 3.294,438 of l hr It own iiolr« hrl<l h> dinrr*Mil national bauk*.
REPORT DIRECTOR OF MINT. 77
Estimated Stock op Gold and Silver in the United States and the Amount
Per Capita at the Close of each Fiscal Year since 1873.
Fiscal year ended June 30—
Population.
Total stock of coin and bul¬
lion.
Per capita.
Gold.
Sllrer.
, Gold.
Silver.
Total
metallic.
1873 .
41,077,000
tl35.000.000
$6,149,305
S3-Z1
«0. 15
>3.38
1874. .
42. 796. OX)
147,379.403
10,355,478
3.44
24
3.68
1875 .
43.D.M.0O)
121 , 134.906
19.367,995
2.75
44
A 19
1876 .
45. 137,000
130.050. £07
36,415.992
1 2.88
.81
3.69
1877 . .
40.353.0)0
167,501.472
56, 464,427
3.61
| 1.21
4.82
1878. . .
47, 508.000
213, 199, 977
88.047.007
4 47
1 85
6.32
1879. .
48,866,000
245,741.837
1 17, 520,341
02
2.40
7.42
1» .
50, 155, 783
351.841.206
146.522.678
7.01
2.96
9.97
1881 .
51 .316.000
478 484.538
1 75 -’vl. 144
9.32
3.41
12.73
1882 . .
52.4U5.000
506.757.715
203, 217, 124
9,65
3.87
13 52
18M .
53,093.000
542, 732,063
233.007,985
10 10
4 34
14.44
18M. .
54.911,000
545.500.797
255.568.142
9.93
4.65
14 58
1885 . .
50. 148.000
588.697,036
283,478.788
10 48
5.05
15 53
lW*i .
57. 404.000
590.774.46!
312.252,844
10.29
5.44
15.73
1887 . .
58. <90, 000
654.530.335
A52.993.566
1 11.15
6 00
17.15
1888 .
59.974.000
705.818.855
386 611,108
11.76
6.44
18.20
1889 .
01.289.000
(W0. 063. 505
420.548.929
. 11.09
6.96
17.95
1890 .
02.622,250
095,268,069
463. 21 1, 919
11.10
7.39
18.49
1891 . .
63.975.000
646. 582. 852
522,277.740
1 10. 10
8- 16 |
18. 26
1892 .
05. 520. 000
064.275,335 j
570,313, M4
10.15
8 70
18.85
1893 . .
06,940,000
597, 097,685
616, Ml. 484
8.93
9 20
18.13
1894 .
68.397.000
627.293.201
624.347,757
1 9 18
9 13
IK 31
1895 .
69.878.000
63(i, 229,825
625, 854. 949
9.10
8.97
IK 07
1890 .
71.300.000
599.597,914
628.728,071
8- 40
8 81
17.21
1897 .
72.937.000
606.270,542
t> .4 74W :si
9.55
8.70
18 25
1898 .
74,522.000
861.514,780
637.672,743 1
11.56
8.56
20. 12
1899 .
76.148,000
962, 865. 505
tm .7)
12.64
8.40
21.04
1900. .
76.891,000
1.034.439 264
647,371,010
1X45
! 8.42 ,
21.87
1901 .
77, 754.000
1,124.652.818
061 205,403
14.47
1 8.50
22.97
1902 .
79.117.000
1, 192, 395.007
670, 510, 105
15.07
l 8.48
23 55
1903 .
80, 847. 000
1.249.652.756 '
677, 44K, 9.43
15.45
8.38
23.83
1904 .
81,867 000
1 , 327. 672. 672
682.383.277
16. 22
8. 33 i
. 24.55
1905 .
83,250.000
1.357,881,186
686,401,168
16.31
8 24
24.55
1900 .
84,662.000
1.472. 995, 209
687,058,920
17 40
8 12 !
25.52
1907 .
S6.074.0i»
1.406.050.632
706,130,224
17.03
8. 20
25.23
I90K .
87.496.00U
1,615. 140.575
723 564.595
18.441
1 8 .27 |
26. 73
1909 .
88.926,000
1.640.567,131
725.550.073 1
18.45
8.16 i
26.61
UNITED STATES GOLD COIN IN CANADA.
The holdings of United States gold coin in the treasury of the
Dominion of Canada on December 31, 1908, was $54,909,076. The
holdings of the charter banks (31 in number), on the same date
aggregated $15,679,259, or 79.96 per cent of their specie holdings.
The total amount of United States gold coin in Canadian reserves
on the foregoing date was therefore $70,588,335.
GOLD AND SILVER USED IN INDUSTRIAL ARTS IN T1IE UNITED STATES
DURING THE CALENDAR YEAR 1908.
Among the purveyors of gold and silver bars for use in the indus¬
trial arts the United States mint at Philadelphia and the United
States assay office at New York hold the foremost places; conse¬
quently, the larger portion of the material consumed in the arts is
brought under government notice and is a matter of public record.
The following table gives the value of the gold and the quantity
of the silver bars issued bv the government institutions and private
refineries during the calendar year 1908.
REPORT DIRECTOR OF MINT.
78
Gold and Silver Bars Issued by the Government Institutions and Manu¬
factured by Private Refineries for Ise in the Industrial Arts during
the Calendar Year 1908.
Material used.
Value of gold Issued by—
Government Private re- Total.
; institutions. fineries.
Weight of silver issued by—
Government Private re- Total,
institutions. fineries.
Domestic bullion .
Foreign material .
United States coin,
Old Jewelry, etc...
Total .
Estimating that the total amount of gold coin used in the arts
during the calendar year has been $3,500,000 and silver coin $100,000,
equivalent to 77,344 fine ounces, the total industrial consumption
would be as follows:
Material tued.
Ookl. Silver.
Domestic bullion..
Foreign material .
United States coin
OM material -
IS, 407, 970. 90
2.M6.974 12
3,500,000.00
10. 721 . 145. 7»
Fine ounces.
15, M2, 812.08
4.490.941.03
77.344.00
i ran 91
Total
31,470,090.80 23,850,827.92
Gold and Silver Barb Furnished for use in Manufactures and the Arts, and
Classification of the Material used, by Calendar Years, since 1880.
GOLD.
New material.
Old
material.
Grand
total.
Calendar year.
United States
coin.
Domestic
bullion
Foreign
bullion and
coin.
ToUl new
material.
1880 .
$3,300,000
SA.aw.oai
S1.2G7.600
S10.567.UW
$395,000
$10,962,600
1881 . .
2,700.000
7.0*1.000
1,547. fc00
11,247,800
522.900
11,770,700
IKK? . . .
2.500.000
7.0X1. aw
671,500
10. 171,500
666, 5(W
10,868.000
1883 .
4, $75, 000
7. $40. aw
194, VW
12.909,500
1,549, 300 .
14.458.800
1884 .
5.000.000
r». (wo. aw
385. 5U>
11,385,500
3,114.500
14,500.000
1885 .
3, 500. aw
1 0, 736, 927
178,913
10.415.840
1.408,902
11.824,742
1886 .
3.500,000
7, 003.480
...» (.1!
U. 141.483
1,928,046
13,069,529
1887 .
3.500.000
9,000.342
NL13S
12.974.464
1. 835,882
14,M<8340
1888 .
3.500.000
9,803.057
71S *<W
14,111,866
2,402.976
16,514. M2
1889 .
3. 500, aw
9.680.827
291,258
13.478.085
3,218,971
16. 697. 056
1890 .
3.500.000
10,717,472
302.062
14,579.534
3,076,426
17,655,960
1891 . .
2,500,000
10.097.679
628,525
14,826, 204
4.860.712
19.06.916
1802 . . .
3, 500, aw
10.58fc.703
771 ,Us0
14,8(4). 380
4, 468,085
19.329.074
1893.. .
1,500.000
8.354,482
804.354
10.658,736
2.777,165
13,435,901
1894 .
l.soo.oa)
6,430.073
543.583
8. 473, 658
2. 184,916 1
10,658.104
1895 . .
i,5oo.aw
8.481.7*
471,027
10.452.816
2,976,309
13,429,085
1896 .
1,500.000
7.209,787
316, R>4
9.000.591
2.309.343
11.395,934
1897 .
1.500.000
7.1M.K22
613. 981
9.»8.t«J
2,571,428
11.870,231
1898 . .
1,500,000
9.463,262
437,641
11.400.903
2.164.976
13,565.879
1899 .
1,500.000
13,207.287
344,906
15.112,193
2,734.98.5
17.847,178
1000... .
1.500.000
14.582.C27
SS4.903
16.607.530
3. 480. 612
20.148,142
1901 .
1.500.000
16,296,088
685,642
18,482.330
3, 3n., 626
21.86fc.956
1902 .
1,500.000
18,653,625
851,073
21.006,208
4.677.549
25. (M2, 847
1903 . .
3. 500. aw
19.944.365
963.507
24,397.962
4,666.589
29,063.551
1904 .
3, 500. aw
12.298,459
7,131.577
22.930,036
5,725,927
28.655.963
1006 .
3,500,000
30.559,910
3,562.009
27.621.979
5.586.636
33.208,615
1006 . .
3.500,000
18,067 804
10,452.037
32. 619. Ml
6.506,922
39. 126,763
1907 . .
3.500.000
15,540.924
14.502,671
33.549.495
7.177,675
40.727.070
1908 .
3,500,000
8,407.971
2, S40. 974
14,754,9-15
16,721,146
31,476.091
Total .
82,375,000
313.604,302
53,143,619
449, 122, SSI
105,196,494
554,309,375
AEPOKT DJIlECTOB OF MINT. 79
Qof.0 AMU HlLVKU ilAHU KVfeJfMHjtfJ fOM LMf I* MiHM'Tfctll itfi Till AlfTB, AMD
CLjUMinCATlOM or TH* VI-ATMOAl, I Nf.li, Mr ^ ALKMDAK Yr.AXM, MihCK 1*W> 0*1.
BIJ.VKK (flMB OUWCEM).
,N>w fuMrtaL
I’jolmrAot ytmt.
L'nlLwl Sue
OuiUMl*
Vattigp
TOU1 MV
014
rwtvtaJ.
Orwul
lotal.
auto
(Nitllori.
solo
mmUMtuI
tmo.
WAtvu
13 4*7 INN
3/74,00*
M <04.274
1112.141
44,716,122
Jwi.
IA4,<*7
4..V-J.3H
a*. *49
A dM.SU
117,072
*142. m
imj.
i'A 1*1
4 1*». *80
v*. HI
A 402 1*1
1 >4 , <*-■
3. 045,314
J*W
lSA.>Mi
4,ft7«,l43
IIS. Ml
3.WI.713
434,64*6
4.JM.3C*
IHM
VA,101
A4W.734
4,127 mo
131,4*4
4 30.274
1M0
144 1*1
4,411,310
44 Ml
1.714 44*
*7.*n
4, 071, STB
1*M
\U,1K1
a.MH.fcV.
aas.ftoi
Vlff.SM
*12, MV
2.010,473
JM7
144 1*7
tut, a*
* .SM « l
«7l,7l«
4,JW.»»
UNA _
\u.ma
4.010,713
Mrt.ua
MM *7
VM lift
ft. mu
J*<«
144. r*l
» M( ttft
M*,9AI
ft IX I0B
472, M2
ft, 7X1,41*4
1 *MI
m.m
V ATS. 134
004 3M
ft ftu.nr.
4*6,077
7, l», 173
INOI
1*4,447
A. (.77,042
•71 310
ft.7ia.Mft
<161 787
7 427,362
IMT2
154,047
4.973,44*
WKl.OU
ft 004 /.o.
4rri,,oo
7, 134,042
ISM.
77.344
A .W 064
1 *V 14b
0,0* 724
S4».747
7.401,311
11*4
77.4*4
0 fttf.Mft
444
7,472,**
M4.A4M
* 417,107
JftMA
77,344
7.MU.TZ3
7*2, '442
ft, 43V <»0
1, (M.46B
0, 443,011
JftVC
77.344
A. 1*0, 777
cl *;
7.060,401.
M2. MO
T M2 MM
1407
77,344
7,1IS,(»»
MO $79
7.X1V 042
Ml, 46.
H <44 MO
I AM
77, 344
0, 417, Ml
44*.
0, <JM, 4«
734.2X1
1(1,71(1.716
1MW
■ fi
i.MAM
M* 137
• Mft.IJO
l,>a.«7ft
10.47", «17
jtoo
77,344
MI.42l.4Nft
040.410
II , 441 , 27*
i. ns, mo
13 21 7. 4X2.
IWJl
77,344
ll.N0.4H
I.0SS 400
12, *36,171
I, jn. A22
11.1 Vi, <04
y*u
n,*a
1A,2*A.7II
l,»*
1C 0«.4>7ft
2,741,431
js.MA.4nv
idol.
n,M4
Ift.OlS.TW.
MW
Ift, 04ft, *40
3, VIS, 731
lf.1MI.2341
1*04.
77,344
Ift.ftCW 434
121*1 22
17, m, 300
2 *34.4*7
arMTO.rtf
||R*.
77,344
Ift.MO.U
2.7'H.W
IV, ill (.'.1
4XM1XI
». 700, 077
lw>r<
77,344
1 l.al.rLM
2,7.14, 1*7
)• M3, 13V
l.MO.Iflt
21, V. 1, 2*4
lw/7
77,344
17,431. (Wl
4. *2* 2*
23,137.243
2,232,341
34.N0.7M
MAM.
77,< 444
13.M3.SU
4, M0, 042
20,411. urn
1,43V, 7J0
22 660, *26
T«Ul .
ft.wTon
341, 07ft, 3f§
32. am. 431
777 321,341
37.M0.I27
113,113,306
The vaJue and conipohiticm of Imr* iinU4*<l for in the industrial
art* by the government inhtitutiona during the fix al year 1009 were
hn folfown:
MrUnIb) iimmI
Um*M
Vtlu*
Im II ton
frfiltnd NUlMmin
fmnAga hollkm
foTfign dnln
Olil ;ii»l» fUl
lUtflru-ry Imr*
PUtr *««v«
ui,*:* w
* 7 4*
2i7,%us oln
FUl* out tut.
H.WO.Wrt Ml, 164 33
(IN IN
4,»I7,7MM I. VVl, 744. M
1*1,2W»>4 2.77*11
aiS.876 42
U, 37V 4ft
20 047, 440 fit 2, (MM.Q44 92
'I >»l<al
80
REPORT DIRECTOR OF MINT.
EXCHANGE OF FINE GOLD BARS FOR OOLI) COIN AND GOLD BULLION.
The value of the fine gold burs furnished to the trade in exchange
for gold coin and bullion, monthly, by the United States mint at
Philadelphia and assay office at New lork, for the fiscal year 1909,
was as follows:
Exchanged for gold coin. Exchanged for gold bullion.
Month
Philadel¬
phia.
New York.
Total,
Philadel¬
phia.
New York.
1
1 Total.
190b.
July .
August .
September..
October.
November .
December .
*475,790.21
431.94S 10
(CH. 1416. 06
718,725 12
683,094 56
317,110 90
*2, 1 12, 273 44 *2. 588. 009 65
1,546,461 09 1,978,409 85
1,9M,208 11 2.611,874.17
2. 247 . 50S 60 2, 966, 233 72
1. 795. 375 58 2.478.470 14
7.722.409 48 8.039.580 38
*26. 600. 09
12. 809 29
27, 409. 85
22, 944 74
15, 191 21
23. 438.95
*292, 865. 08
253,812.14
278, 425 46
293, 822 94
255,216. 10
326. 243 63
*319, 465. 77
266,681- 43
305, 835. 31
316.767.68
270. 407 31
349, 682 58
1909
January. .
Fcbruury .
Man-h . . .
t&fv
June. .
2,584.987 70
583. 972. 58
705. 446. 78
006.837 54
648. 203 45
555. 076 89
2,414,110 61
1,39.8.475. 18
4,012, 155.33
3, 386,415.12
4. 361. 144. M
3,379,877 72
4.999,098 31
1,982, 447.76
4,717.002. 11
4, 053,252.66
5, 009. 348 26
3,935,554 61
26.482 15
15,806 85
23, 207 62
22,691 62
20. 235 79
34,521 33
328,414 92
272, 582 08
345,614.74
344. 506. 06
281,923.87
288, 440 45
354. 897.07
288,389 53
308,822.36
307. 198 28
302. 159 66
322, 961 7*
Total .
. . .. 9,000,465 95
30. 359. 475 67
45,359,941 (2
271.400 09
3. 561,868 67
3,633,268 70
Of (he total value of bars (*45,350,941 U2) exchanged for coin, *19.391 .034.23 were exported and *25 90S -
907 ay were used in tlie industrial arts.
THE WORLD S INDUSTRIAL CONSt MPTION OF T1IE PRECIOUS METALS IN
1908.
I his bureau estimates the world’s consumption of the precious
metals in the arts during the calendar year 190, s as follows: Gold,
of the value of $1 13,996,000, equivalent to 5,614.557 ounces, fine: anti
silver, 91,835,000 ounces, fine, of the commercial value of $49,122,542.
Tn these estimates only new material is taken into account.
PRODUCT OF GOLD AND SILVER IN THE UNITED STATES IN 1908.
The detailed statistics of the product of gold and silver in the United
States for the calendar year 1908 are presented in a special report to
the Secretary of the Treasury.
The distribution of the product among producing States and Terri¬
tories was as follows:
REPORT DIRECTOR OF MINT.
81
Approximate Distribution by Producing States and Territories op the
1908UUCT °F GOLD AND Silver in TaE UvrrED States por the Calendar Year
[As estimated by the Director of the Mint ]
Gold.
Silver.
State or Territory-
Fine ouncec. 1 Value
Alaska .
Arieona . .
California
Colorado .
Georgia _
Idaho .
Illinois
Michigan.
Missouri . .
Montana.
Nevada _
New Hampshire . .
New Mexico. .
North Carolina . .
Oregon .
Philippine Islands..
Porto Uloo.
South Carolina . . .
South Dakota .
Tennessee .
Texas . ...
Utah .
Virginia. .
Washington
Wyoming. .
1.003
000.660
120,037
035.074
1.106,385
2,710
00,820
Ml 200
10,858.800
-',500,000
10.329,700
22,871,000
56,200
1.443,600
Total
152,865
566,475
170
14.817
4.716
41,823
13,763
20
2.508
374.520
170
24
100,022
174
12 273
368
3,160,000
11,680.400
3.700
306.300
07.500
005,000
284.500
600
53,700
: 742,200
3.700
300
3. 940. 700
3 600
253,700
7.600
4.574.340 04,560.000
400
204.600
2,000.000
1,703,700
10. 150.200
200
7.558.300
2.000
204.100 I
40.401 !
10.356.200
9.508,500
6.300
400,000
1.300
56. 100
1.300
200
107 300
00,000
447.000
8,451,300
300
86,800
3.500
8200
100.400
1,551,200
Oil. 300
5,420.400
100
4 042,000
1, 100
167,300
26.400
5,539,500
5,086,100
3,400
214,500
700
30,000
700
100
105,500
32,600
239, 100
4,620.600
200
46,400
1,000
52,440,800 28,050,000
world’s coinage.
In the appendix will he found a table, revised from the latest infor¬
mation received, exhibiting the coinages of the various countries of
the world during the calendar years 1906, 1907, and 190S. The fol¬
lowing is a summary of the same:
Coinage op Nations
Calendar year.
Gold
Silver.
8366,326,78 8
411,803,902
327,018.200
*155,500,466
221,651,826
194,602,737
The above figures represent, as nearly as this bureau has been able
to ascertain, the total value of the gold and silver coinages executed
in the world during the years given.
It must he home in mind, however, that the total of these coinages
does not correctly represent the amount of newr gold and new silver
made into coins during the year, for the reason that the coinages as
reported include the value of domestic and foreign coins melted for
recoinage, as well as old material, plate, etc., used in coinage.
In the circular letter of inquiry prepared at this bureau and sent to
foreign governments through the Department of State, asking for
information on these subjects, it was especially requested that each
country report the amount of such recoinages. This has been done
in many instances, but not in all.
19711—10 - 6
82
BEFOBT DIBECTOB OF MINT.
Coinage of Gold and Silver of the Mints of the World bt Calendar Years
since IS73.
Calendar year.
1873 . . .
1874 .
1878 .
1876 .
1877 .
1878 .
187V . .
ISM..
1W3
isei
UB2
WOO
1901 .
1906
1906 .
1907
Gold. Sflver.
*- Value. Fine ounces. Coining value.
12,452,890
G,5c6:279
•,480.883
10.309,645
9.783.196
9,113. J03
4.390,167
7,242.951
7,111,864
4,823,851
5.071, Vd
4,810,061
4,632,273
4,8TB. 310
6,046.510
« 522.346
6.170,611
7,219 725
5,782.463
6.343.387
11.243,343
11,005.060
11.178,855
9, 476,696
21.174,850
19.131 244
22.548.101
17.170,063
12,001.537
10,682.006
11. 6*4. 106
■ a i m
ll.WK.tH7
17,721 OCR
19.021. 614
15 SI4* 506
CS7, 630,902
135,77S,3S7
i a m m
2l3,119.rs
201,616,466
188.366.611
W.752.S11
149.725,081
147,015,275
W, 607. 170
104.S45.114
W. 432,795
•5, 7 57 . 582
•4.642,070
134,092, 465
L34.KS.S55
168.901,519
149,244.965
119,534,122
173.473.124
232.421 517
237,921,082
251 . (VC, 438
1*5. 800,517
C7.722.9K
m 477.905
4W.110.U4
354.06,497
246,083,787
230.405.125
3#'. 4W, 547
455,427,065
245.954.257
«l,6 _ _
327.018.3
101,741,431
79.610,875
92,747,118
97,809,525
SB, 440,796
124.671,870
61.U4.555
65,442,074
■.■MB
U M
64.541,904
74,130,127
98.044.475
96. 5(4.844
U6.3W.502
104. 354.000
107,788.256
117 .780,228
106.9C2.049
130,282.947
106.BI7.7S3
87.472,523
98,128.832
123,304.230
129,775,082
115.461 ,030
12“ .566 .167
1C. 362. 948
107.439.**
149,836.725
161.139,508
136.518. 406
134.(42.314
130-139.501
171, 484,008
LSO.58B.664
8131,544,464
1U2.931.232
119.915,467
136,577.164
114.359,332
161.191,913
104.8W.313
84,611,974
108,010,086
110,785,934
109.306,705
U5.S32.OS4
126 ,764.574
124.S54.101
163,411,307
134.922,344
139,362.505
152.293,144
138,294,367
155.517.347
117,952.000
113.005,7^
□6,873,642
159.540,027
IOT.790,006
14U.2S2.936
166.236, 9M
185,356. 756
138,911.801
ios.n3.yo
21I.7U5.S2U
176,506,646
173,333,003
155.5W.4t*)
221.652.S36
1W.6K.737
387.070.960 8,011.467,128 4,001,972 509 5.177,605.596
FOREIGN' COIN'S MELTED BY YiRIors COUNTRIES.
b"" «p,n.d „ ,hi. .„ SaffiCLSS^u&ir
Country.
United Stales
Austria- H uararr
Great Britain...*
Germany
India .... "
Ilalv...
Japin... ;
Mexico .
Peru .
Portugal.
d ._.7i .
::CIS:S? »£8 «•»•« «•.« mm
- 8,056.407*
8103.076
14.778
384 . aoo 997
2.146 . !:**. ;; ;;;; ;;; 1 1,4
Turkey.*.’
Total . .
. ®,4s6.e» . I*7i» 2l4a .
. •» 387, 308 . ’ *‘i*m«i . - *.•
. 4-5 34570 . 200.41*
. 12.815 ^ 18 . ®.7S5 .
15040 . a . &
• — 9,821.065 * . - ■*,« .
. ,“•*»«» 1.804 507
9.219.795 _ 168.9S7 *4,’ 770.012 . 20.40W
788 11.838.823 4M.S45
REPORT DIRECTOR OF MINT.
83
UNITED STATES GOLD COINS IMPORTED AND MELTED BY VARIOUS
COUNTRIES.
The following table shows the amount of United States gold coin
imported by various countries and the value of the United States
gold coin melted at their mints:
Conn try.
Import of I'niwo
gold ooln.
Austria-Hungary
Japan .
Great Britain..
Dutch Guiana
Total...
II, 154
4.820
5.974
•I. 154
'570,597
114,804
00,785
571,751
75,649
UECOINAGES OF THE WORLD.
The following table, compiled from official sources, exhibits ap¬
proximately the recoinages of gold and silver in the principal coun¬
tries of the world for the calendar years 1906, 1907, and 1908 so far
as has been reported to this bureau:
Country.
190b. 1/17
Gold. 811 ver. Oukl. Silver.
1908.
Gold. fl liver.
United State* .
*>50,(03
1971.504
13,072.900
11 233,298
85.321. 407
1977.211
Australia.... .
4, 4«
3 474
1. till. 333
A ua triii- Hungary .
953,09b
10.787
1 010, 137
1,020,446'
1,448,904
5, UB.278
China .
507 JTCJ
Colombia .
5.300
Denmark .
i > IV)
Egypt . . .
1 JO. 609
France .
53,068
tan. hoi
02.496
1. 170. ICO
69.858
3,110.555
Germany .
..... 2.003.368
14.71*. 370
1 ThA.HOI
20,216.679
2.256.210
5® 058
Great Britain.. .
. 13.139,560
3, 242. 7 44
13 139, HO
3.509.414
10 059, 450
1.347, OKI
India (British) .
10.346.HW
lO, 345, 352
7.0U.506
Italy . .
1,274.612
3. 709. 2*3
Japan .
4. 47/
98. 299
1.137
2.2W».(SU
1, 797
3. *44.863
Mexico .
_ 21n. 4*4
0.212 000
9.314
2 992. 255
1*9 4*1
Netherlands .. .
l 4* 7,3®
1, Ml, 3®
3,011.4.3
Norway .
14.740
14 M7
9 <06
Pernio . .
149.570
Peru .
- -J .
109. 759
41,04
Portugal . . .
... ...
611
Ruada .
3.725
122.940
£m\
1.309.' 4*
7 is
920.2X3
Slam..
1 706,217
1.017 JU5
Straits SeltfertnenU .
. . . .1
10.767.0®
6 920 5®
Sweden ...
. 163
ii.ub'
107
88.532
Switzerland . .
267. .W
. . . . ;
193 0®
Turkey .
738.991
9.219793
9W.7V*
34.613
527.5C8
Total. ....
17.347 9K1
42. 176 WW
2h.y»..w
G3 392. 2n
38,824.837
a&.uo.a*
REPORT DIRECTOR O ¥ MIST.
84
TAJLITCS of POKDG5 COlS±
Treasirt Department.
Office of the Secretart.
Washington. October 1. 1909.
In pursuance ot the provisions of section 25 of the met of August 28.
hereby proclaim the following estimate by the Director of
the Mint of the values of foreign coins to be the values of such coins
m terms of the money of accost of the United States, to be followed
m estimating the valoe of all foreign merchandise exported to the
Lmted states on and after October 1. 1909. expressed m anv of such
metallic currencies.
Vuri* or Fo
Charles D. Xortox,
Acting Secretary.
* Com.
REPORT DIRECTOR OF MINT.
85
Values or Fokeion Coins — Continued,
Valoe
\nu
Country.
Standard.
Monetary unit.
off. a
<S£r
Finland
... Geld .
MarV-
10 1M
France.
do .
Frane .
1W
German Empire -
fiTfaa t Mrithin
, . do .
do
Mark .
Pound starlinf .
7»
4VA+
Greece -
.
Drachma .
110
Haiti...
..4a .
Gourde -
*5
India, British . .
do .
Pound eterllar • .
Italy
do .
LMa... -
Japan
* .
! r- .
«S
Liberia .
....L. -4a _
DoUar .
LOW)
Mexico.
da .
Peso 4 .
4fal
Netherlands .
•io .
Florin -
«8
Newfoundland
do.
DoUar...
l 014
Norway .
do.. .
crown. .
3E«
Panama .
do....
Balboa.
i mu
Perafa
841r«r
Rran.
06*
GoM 20 Ducks ($LS»a M> i
(MJ».
OoM: 4, IS, 3f>, 40, end 1
*<lleer 4 Irene*
OoM: 4, 10, sod 30 marks. _ _
OoM:Sov«rei*Bfpotmdrtaritii»)eDd
4
Philippine Islands. . . .
Portucal .
Russia
do....
da....
do.. .
. Pane ...
. Mflrrti .
Ruble .
MB
414
Spain.. .
Straits BettlanenU . . .
Sweden .
do. .
40
Peseta -
Pound sUrknc*.
Jf>
4. *A*
da.. .
. f rown
301
Switzer Loud
do...
Plane
. 103
Turkey
Urafuay
^a. ...
da..
Piaster.. .
. Peso. . . .
044
1.(04
Venezuela
... 4a. . . .
Bolivar . . .
110
GoM 4, M. ,0° d”Chn““'
GaM .1.’*, 4. and M Ctmrdss- SUrar
Gourde and dlrlfaens.
OoM: So rerfa«n pound
‘Mb** Rupee sod dlTuMn*.
GoM- 4. U>, 3D, ». and 110 Ure 811-
rar Stow. _ _ „
OoM: S. IO isJ Juym *•.
20, and 40 mn.
OoM 4 and 10 mm*. SUtot Dollar*
for pmo, anJdlrldoue.
Gold 10 florins. Hilrar: 2J, 1 florin
■oddjrbttae.
OoM 2do0ar* C0»>.
Go! d. MHdNasvM.^^H
Gold 1. 2J 4, 10. and
Kllver. Peso and diets
Gold J. 1, and 2 U«u
filter *. 4, 1,2. sad I
G<*M arl 1 Ubrs. «*
[*•: 10, 30. sod ilwl
UlwlWmiW*
1.7* 10 «adl5rubM.
,L5.3Q,.S.I0,and W0 «
Sid 4. 7*
citP s iSruJ^’Slbor 5 P«etai
OoM Sorerefaa >o«nd *lerttn«>.
(Mirer Dollar and db Moos.
OoM: faand Wctwwwb
GoM. 4. 10, 9, 50, sad lflo frsnra.
Silver: 4 franc*
OoM P«a Silver Paso sad dl ri¬
ft The sorwrnlcc is the standard coin of India, hot t
to in* unrmrn _
s Heventy-flve oenUcrams Ane *wM
STWilrrl^t^n^^ Ui
which has bora dm s tentative value af •a»7Ti*4-
S or*.— The coin* of direr standard cnunlrtes
market price of aUrar far the thrwe month* prewdin*
GoM 4. M. 3*. 50, and I
Mm 4 twiirarv
» rupee 1*0.044+' ** the o
i silver dollar famed on Chmaa
rained by Ihefa pots direr c
the date of this rirrular.
86
REPORT DIRECTOR OF MINT.
Changes in the Value oe Foreign Coins during 1909.
Country.
Monetary unit.
Value, 1000.
January 1
April 1.
July 1.
October 1.
Bolivia . .
Silver boliviano . .
<0.365
<0.380 .
Central American States. .
Silver j**o .
. * .365
.378
10.383
<0.378
China .
Sliver tael. Amoy .
.508
. 015
.827
.614
Do .
Silver tael, Canton .
.807
.813
.tor.
.612
Do .
Silver tael, Cbefoo .
• 872
. M
UJ0
.887
Do .
Silver tael, Chinkiang .
.AM
.two
.613
•oo
Do .
Stiver tael, Fuchau .
.883 .
.368
.880
.868
Do .
Sliver tael, Haikwan (customs). .,
MX)
.tea
uti
.628
Do .
Silver tael, Hankow . .
.860
.875
.887
.678
Do .
Silver tael, Klarbow .
.880
.AM 1
60S
.808
Do .
Silver tael. Nankin . . .
m
.608
.821
.808
Do .
Silver tael, Nlurhwang .
. Aid
.570
.588
.876
Do .
Stiver tael, Nlnrpo .
.578
.501
. 003
.800
Do .
Silver tael. Peking . .
.AM
. .vn
.612
.800
Do .
Silver tael. Shanghai .
. 846
.801
573
.861
Do . *...
Silver tael, Swatow .
.881 1
.868
,5W
.867
Do .
Silver tael. Takau .
. 602
.018
.631
.618
Do . .
Silver tael. Tientsin .
.580
.506
.i m
.m
Do .
Silver dollar (Hongkong) . ..
.303
.404
.413
.404
Do .
Silver dollar (Brttfifc) .
.404
. 413
.404
Do .
Silver dollar (Mexican) .
.30*1
.407
.416 1
.407
Persia . .
Silver kran . .
.007
.060
.070
.000
MONETARY STATISTICS OF FOREIGN COUNTRIES.
The statistics of the production and coinage of the precious metals,
imports and exports of gold and silver, amount of bank and gov¬
ernment notes, both covered and uncovered, of the different foreign
countries, published annually in the reports of this bureau, are
obtained directly from the governments of such countries by the
representatives of the United States accredited to them.
A copy of the interrogatories covering the points on which infor¬
mation is sought from the governments of foreign countries is sent
yearly to the United States ambassadors and ministers through the
Department of State, and the replies in the form of reports are
forwarded directly to the Bureau of the Mint. The interrogatories
sent are as follows:
1. What wv the amount of gold coined during the oalcndur year 1908 by denomina¬
tions and values? \\ hat amount of this was recoiuuge? Domestic and foreign coins
melted Riven eeparately. ^
Ith0 *iUvT during the calendar year 1908 bv denom¬
inations and values? \\hat amount of this was recoinage, and whai amount ‘was from
new bullion? Domestic and foreign coins melted given separately If any coinage
was executed at foreign mints, please give separate statement y ^
3. Was any coinage executed for other governments during the year 1908? If so
state character and amount of same. * r 41 801
v^r UBe<l in ,h,‘ indu»tri»l during tho calendar
°' h‘!‘ *** a°V *°W’ whl*1 *mount »>d gold, and what
5. Same questions as to silver.
"h#t ,he imp^ ,n<1. e?P°ri 01 *®'d during tho calendar your 19087 (Coin
bulb°?’ “d "o, aa wall u tho.r woight and value, diould bo gi\™ ^mrato v i
PTsamo q"S,«bloX«,mP',rtS a"d 6Ip0rW by ^
1908?'V1“t W“ 'hr ^ imp°rt °‘ Unitod SU,tra K°ld during tho calendar year
maitedduring* the'yeu'uwST1 Unitod SUt“ 8°W roin * <b« -tot. aud
REPORT DI HECTOR OF MINT.
87
10 What wo* the weight, expressed in kilogram* fine, and the valm* of thfi gold
produced from the mines of the country during the calendar year 1908? (live the
product of the colonies of the country, naming them separately.
11. What was tin* weight, expressed in kilograms fine, of the silver produced from
the mines of the country during the calendar year 1908? Also give product of the
colonies of the country. ... _■
12. What wan the weight and what tho value of the output of gold from the rehnenes
of the country during the year? Give the sources of this output if practicable.
13. Same question as to silver. , .. . . . 4.
14 What approximately, was the stock of gold coin and bullion in the country at
the close of the calendar year 1908? Give stock in public treasuries and banks and
in circulation separately, at the close of the calendar year 1908.
15. Same question as to silver. , . .,
16. What was the amount of Government notes outstanding at the end of the year
1J17? What Was the amount of Government notes outstanding not covered by legal-
tender gold and silver coin or bullion at the end of the year 1908?
18 What was the amount of hank notes outstanding at the end of the vear 1 J087
19. What was the amount of bank notes outstanding not covered by legal-tender gold
and silver coin or bullion at the close of the year 1908? ... «
2ft What was the actual currency of the country, gold, silver, or inconvertible
Pa17r,IsgnW at premium as compared with the actual currency of the c £?nd
if it is what was the highest, lowest, and average premium during the year 1908?
°2 Were anv laws passed during the year 1908 affecting the coinage, or
tender Character of tL metallic or pa,ir currency? If so. ploaselorward copies of
thesamo^h^ ^ rcport published on the operations of the mint? If *>, please forward
a copy, also a report of the department of mines for 1908.
The foregoing report, covering the operation* of the nunts and
assay offices of the United States for the fiscal year ended June 30,
1909 was for a period prior to my appointment and entry upon duty
as Director of the Mint, and was prepared under the direction of
R. E. Preston, examiner. ______
Respectfully, fct
Hon. Frankein MacVeagh,
Secretary of the Treasury.
A PPEXDIX
90
REPORT DIRECTOR OF MINT.
No. I. — Domestic Production'. Deposits,
Philadelphia San Francisco
avd Purchases of Gold, by
l Verified with the
New Or-
Den% cr
Near York, i
Steal, or.
Steal, or.
ItiSuOTD
14. 570. 712
81.274
437.362. 453
237.086
15.146.157,
7.601.774
50.005
324. 42ft . .
_ _ ....
8.730 aoo
4.B&2.44U
2.897. J91
1.320.475
71. 414-
3,032.125;
607.451,
225.164
18. 196,
41
42
Total domestic .
Domestic bullion reflnerr
a v-4 m
3,524.383
585,128.416 137.777
496.239 134
36S.537.9U0
345.684.323
300. 223. 422)
1.741,873060
bars.
Domestic bullion refined . . .
35.277
1.357. 250. 497... . .
Total domestic bullion .
Domestic coin mutilated.. . .
Domestic coin transferred ..
7,123.918
12.842.339
114.382 440
1.942.378.913 127.777
672 580 3.743 417
3C8.1J0 . . .
861,777.083
27.494
2,356,783.808
28,900 040
Forcijm bullion unrefined...
Forrbrn bullion refined .
6.431.045
53.053100 41,679.317
200.350
105.528.074
410 517.543
Foreign coin .
Jewelers' bars, old plate, etc.
Surplus bullion .
160.705
f3.164.162
473 511
40,355.681 3G2 173.
7,357.518 3.063 506
2 367 73.015
81.222 13 518
3,600. 081
900-732
56.603
23 670
14! 793. 105
304.33200b
Deposit m el tine- room, grains
Sweeps from Helena .
53150
387.920
Sweeps from Uhurlotte .
2 to 19 .
Assarers* remnants
Total deposits
204,647.239
2. 043. 274. 701 47.973 813
866,656. 083 3.211, 151. 5fc>
Redeposits.
Fine bars.
Unparted bars .
2.363 742
22860 .
7.464
3.485
1.354,513 193
160,004.546 .
995,471-779
Total rcdepcails ... .
1,356,886. 935
100.717.40T. .
995.471.779
laws
Total. .
1,561,534. 174*
2.303,992107 47.973 813
Tj8027l2!h8KJ
3.211,162535
■ Includes 0.027 standard ounce prerlpitatkui from solution
REPORT DIRECTOR OF MINT.
91
Vdgkt, at Coinage Mints and Assay Offices during the Fiscal Year 1909.
brtkm vimmOM }
<*— Bo- U-™ SS; “S’
Smttl*.
Salt I, alee
CUy.
Total.
Stand. & Stand <u Stand. m Stand c: SttaA ot Stand. M.
. 1 12.157 . .
Stand. «
Stand, m
...
Stand m
130.953 1
" SARD liAWb Sl.BU>
871.310 214
2602
■*70.534.382 2
11294
A 581
57, ail 709 1
3 DO 25J Si. 771
107 COM
47 218
317,355.342 4
12.05-
98?
11693
438. 157. 244. 3
67A an
«2n n l.QOAtfi . m »7
1 4K> 821 6
1,022,401
18 485
43.0111487 7
.992 8
342.7190.947 151 - L.. . .
49 183
108.410 429 9
IS ZH1U 21 *U7 1.401 Cl.
7 483
9.771 389
298.371-340 10
0,868.972 11
2,006.077 12
*... . M.7M.M4 2- 706
61A 710
L 808
24, ISA 163 13
1 1M 14
f"* . HMD
1,239 417 16
MHIW
1
7AUL
AW*
uu?u m. 9ln
L. .... A Oil
'4V 717
9.927
i7.3» 712
1991
381.633 474 10
1337 17
44,391000 18
55.767 19
1 671 301 20
77 ir 21
(.1 K82 22
h;::;::::..’.:.
418 133 34
117 L&A3U M,3M M» 99. 864. 9M 2.«T IM 20 4|h«lfi >A 316 *73,029 307
LIE U3 2UA924
j. . .... 2.M0 057 3 M*>
27.2KH 441
.
2,691. 8*9 078 26
Ml. 086 5J0 20
3, 101 771 497 27
537,161 3UM.2M 3MM.AM 954 6,484 9B »,04A 40MA.MR 31* 873, OH 9037, M. 441 1
7 470 24.690. 240 4 373
r* <*9 4*1 57.161 134.760 Wfl 11264
19,264 6Jb
11 III 3 992
" 7 7S7 I3U K2 UK 2.018.U2 989.821 -110 334
. 49* 29 717 27. M0 2 67U 8 M* 34 410, 36 673 1 190
, 6, 4AV 360 095 A
\H 734 953 29
114. 7141 MO 30
411. 4M. WtO 11
429,7.2 in.-' 32
Vi. 597 797 M
284, *11 671 34
1.440)2. 36
,58 829 30
» 070 17
2 U9 38
49 IkO 39
127. IM MOM. 311 04M9, 978. IMj 6,91 7. 04929. 78a 57066, 402. 720 1MM21 Ml |17. 411 21 1| 7.3M.T01 104 40
n»«r ... l(m
2. 199 om. 41
2 610. *14 629 42
118 4*7
2.613, 21 >i 696 43
117,1110 005 60,118 046 99, 494 843 6,917 M9»,7flO 67066,402 730,1,088 029.7aO|
17,412 ni
ia 330 914 979 44
M fit I* JfttK&SSKtiKCSrBCCS.*
92 REPOBT DIRECTOR OF MIST.
No. 2. — Domestic Production-, Deposits, ivd Purchases of Gold, bt
[Verified wjthth-
Locality and deacrtp- PhQadd- Sen Fran- Sew Or-
Dearer. New York. Carson.
4-
B.iuaiJi,a2,Rtt3t> . 0.14X63
2, XL 40 SOB, SSL 14 . . . 27*1*4 61
7, &SL 72 5,673,302.14 . l.StiO
ixtxoi 1.801$ . *135,11*
14,480 30
10,358.46
IS. 43
. ij xTo/ yy *0*91"^
34.410.33 5570. S5
251.7^*7 .
141.0.35 71,074 47
“T.00 . .
Ol
Sooth Carolina.
South Dakota.
334 7* 2 **4.256. 76
524 33 27L *4
4,146.83 . ...
3,173.6* 134. 900. 41
’ JT .’C .
4 43..
130 32
162,961 w>
92.1J&5*
5X91X38
4,18*1#
1.0 612,480.08111
73, 133 S2 .
11.30141 .
0 37 .... .
15,922.96 . 217 *4 *967! *7. 33
Utah
Virginia
151 “ 1.4SL 15 . J 15L 7*
BSiK. . . ••**«
Philippine Islands . 3L13 * 07. »
. 4.114 71 .
. 50* STL *4 .
Total _
Dumestk buflioc, re¬
fined.
Total
04. 11L7M* S84.Ua 06
86 508 91 .
•36.323*351.17X0*
m
2-377.24 j
L 000.07
uiiL»
•.SXLISS. 79 4,411,33* 2*2.351, 73? 45
’ *99* 704 39 5,00* 907 65 .
| . . 32.406.». 4e. .
29 Domestic coin
kited. .
30 Domestic cc4n
**** ^ W 3* 1 37, 2S2. 00 2.377. 24 1*00, 0*2. 19 43.647.14*400.551,727.45
Farnyn
fined.
Foretgnrotn. . _
Jewelers- bars, old plate.
23* 927 23
12.41*12 51,077. »
51L52 53*992.15...
3,12*045.3*
*64*74 .
119.44735
•6**1*5177*42*15
L8M.SN *637. 731. *J . . .
1.17*147 30
*646.72
136.964 06 57.10*63
*404 1,15*42
*801.527.36
1*92* 25 .
144 45
1. 036. 05
1.MLU 544 53
1,06*0* 7,217 14
IS
437.17
5*34
. !
. .
.
91*74 '
Surplus bullion .
I*epodt melting-room,
grains .
Sweeps from Ileleoa. . .
6 warps from Charlotte.
Aanarers’ remnants ...
Tottl dipctte.
Redejpoaiu: -
T«ui rrtn«ia..ig.aM.«8.»> wig . .
ToUI . a.<*i.7fc«*«.(ut.So, 3l9fci5ri HM.644.jia3rig.7o.sis.nissi.Sw
REPORT DIRECTOR OF MINT. 93
Value, at Coinage Mints and Assay Offices during the Fiscal Year 190?)
bullion accounts.]
Boise. Helena. Charlotte. St. Louis, i Deadwood. Seattle.
. *229. 90 .
I2.S77.8S .
Salt Lake
City.
Total.
749.353.11 29.925.22
0,385.' 47 1,729,249 00
$970 74 . $10. 208. 430. » $4S- 41
247 33 159. 05
1,991.42 878. 84
IS. 36 254. 74
233. 02 . ..
1.307 St. . .
442.92 03. 274. GO
I 275.323.43
34,132.47
1,706.68
. 24. 84 .
8,126.40 8,203 09
19. 022. 53
918.73
139.22
It. 00
181,867 06
33.54
184.09
.323.474 02
H. '
An
1,864.84
1,047.220.421.833,580.13 48,876.30 4,342.66 1,216.155.39; 10.253.567 49 507,091.80
. 59.494.3f. 3,831.14 . '
. 48.484.97j . 66.90
12.
18,05li.
1,065,
5.904.
8. 151.
27.
816.
1.924.
5.513.
127.
49.
440.
23.
7, 100.
I3i. .14 1
452 62 2
,334. I3| 3
2*5 42 4
702. 70 5
103 64 6
842 71' 7
IS. 45 8
CM 04 0
8*5.29 10
794 si II
582 68 12
026 14 13
22.(0 14
431 01 15
158. 33 16
(.2. 46
916. 21
<07 52
093.
435. 10
151.
958. 93
779.57
50,061.652.80
11,938.409.
57,707,376.
138.98 458,162.60
1,047.220.421,833,580 13 108.370.li6 56.656 77 1,216.155.39 16.253.634.39 507.091 601119.747,439 13
81. 3b . 1.297,394.
2.134.894. 13
8.025.761.
7.995. 759. 42
1,034,377 “
209.3
12,08730 . 1,249 32.
m‘48 rTiiziiiririiiiirrr
2.431.4ft 1,538.40 37.559 26 . 17.4S5.04j 2.05*71
2,506,986.11
358.223.74
74.27
518. 69 47. 81 56. 52
X 18 661. 84 40. 75
5.298.856.76
27,174.43
14,106.47
496. 18
55.24
912 74
1.047.774 02
1 , K4S, 862 00 110,095.85 553.686.47
.216,795.57
19,137,146.75 509.994.62
2,204.41 .
1.047.774.021,651,006.41 110.095.85 553,686.4:
19,137,296.31 500.994 62
44,633. 78
40,712,“ "
46, 757.462.
192.314,692 54
ft?}* ft *ftfi£6tt«’1KK2tS!f&8« S-JSCrCSSS*^**,..-.,..
94
REPORT DIRECTOR OF MINT,
No 3.— Domestic Production*. PrrosiT*. axd Ppwaim or Silyiil it
with ifc«
Locmti'v aavl .lesoriptkwi of PhitabWpfcM.
2.071.87 0.800.W
1.00BL27 42.00
1.4SA57 173. S3**
3307
il v LIT
Lstai'
K.UL77
l« . t.440.01 .
1L«S .
1SS 7.30
111
lit* .
Tnd*<l*Urs..
PwHcn b*'.UW _
Komr> hullkw.rrtnM
PhtlipplM o
SSSEfS!.
PbUiM«o« >stv coins.
Jorefers b*rs. oKl pUU
Lr?d«
122. 400 4S
l.tt&SS
SM.tK.50
SOL’ V*v M
11 M .
.
I7.6SS.S2
71.400 01
14.MMK
»: 141 m
1.330. 40* SS
1.000.04172 1 5J3.JS3 13
Ml Ml 10
6S0.439 01
i.mlm n
1. 236.234.74 2. JOT, W0. 46
1. Til 17
mats
IfiB
XS(H
6» 01. 60
31.4C7S
63. DO «tl
WQ 06
1JS. LSI 9t
in cf4S4
a tos.4j‘
. oils' i
'.ta.fOl. jo
. ... .
.... .........
W6.401 40
.so
144.01 .
10.dS.S0
4 MO. 46
t»A77 .
71 so: n
n him
0.4(0. 71
ISltSS
4S&SSS.4S
5 43
12. 44* S3
401 «
L 410. AS
SIT 76
‘ *
10b. A.
40. 41
33. AS
«.J»
.WSJ
L 14
.
i '
W.W.9
*.141011 5D
1.4S3.S47 «
— ^ — .
i.mtoa* 4. <a r* 43
171 oat T7
1.040.SSS. 10
SSS.SS4. 40
4S.JOX40
. «i»
Id 646. 61 Otll
. 100S. 440.16
4&ML4*
«*»
M3. *46. 61 SLU647
. 1SSS.41T SO .
tot m so
1. 4S.tl7.lt
1 AM6W.Nl 4.SS4W4 90
HEPOBT DIBEOTUK OF MINT.
95
W eight, AT Coinage Mints and Assay Offices during the Fiscal Year 1909.
bullion accounts.)
Stand, o:.
. 1- 77
’i,'»i.43
41,881.45
Boise. Helena.
Charlotte. St. LouK
Stand, oz. Stand, ox. Stand, oz. Stand uz.
. 1.98 .
. 17 42 . 7.21
24,571.80 291.41
A 16
2146
Dead-
wood.
Seattle. lotal.
Stand, ox. Stand, ox. Stand, ox.
120 358.70
52.70
35.77
.25
319. W
3.60
i . 49
31.24 43.541.28
25.75 2.905.15
372. 65 . .
1.94 21,288.19
Stand, oz.
1,329.56
131,418.43
20.411.. 91
71,603.86
115,018.11
245.94
25,56781
15,203.61
140 69
53,820. 94
51.50
147.' 22
20.19
\*2 i
1.12
241.50
7.64
43,274.65 29,909.90 46,924.29 5U8.88 42.20 97.212 51 121.481.83
297.31
43,274.65 29.909.90 46.924.29 806.19 42.30 97,212.51 121. 481. S3
21,522 44
21,522 44
108,727.14 11
173. 330. 17 12
442.02
5 972.72
.11
171
195.534.32
.32
M. 746. 70
8.31
366. 51 |
7.39
6.14
14.46
142. 73
13
14
15
16
17
)s
18
30
21
22
23
24
— ~
1, 134. ,199. 70 26
89,091.00 27
4.748.537.29 28
5, 972, 627. 99 29
3.190,37 30
729.971.04 31
100.05 32
1,777.010.18 33
SOS, 401 49 34
8, 127,302-80 35
SO 36
24,. 152. 12 37
t., 376. 77 38
556. 092. 58 39
20,8.54.88
96
REPORT DIRECTOR OF MINT.
No. i. — Domestic Production, Deposits, and Purchases of Silver, by
location and dcMviption of
deposits.
PhllHdrlphi.’ Franc&co.
New
Orleans.
Denver.
New York
$1,544.82
127. 87
87.93
$12,734.58
12,231.93
79. 823. 30
$23. 90
$52.06
. 4,728.77
6,643.40
1.011.85
California . .
70. 45
. 46. 66
3.97
39. 49
. 367, 536. 30
23.55
161.50
157.24
3.19
260. 76
Michigan .
1.284.98
16,475 31
163. 71
Montana . .
10.62
47,551.24
2.410.90
1 . 942. 43
1.703.06
11,41510
48.87
202.285.92
29. 17
2.29
New Mexico .
North Carolina . .
17.59
44.37
• . L77.
22.74
1,604.34
48. 71
Oklahoma . . . .
..3
South Carolina . . . .
184.56
114,200.68
\n> tr*
2.83
Tennessee . .
.13
Utah .
5.46
10.995 21
Yirginta .
8.99
Washington
4. 19
13.52
2.62
8. 49
Wyoming . .
7.23
Porto Ulto
715
Philippine islands .
.93
15.90
Other . .
1ST 30
Total domestic .
Domestic bullion, refinery bars .
Domestic bullion, refined .
2.000. 60
14.14
154.170.74
1.709.24
3Mf.709.38
20.579. 51
1,167,87516
352,449.46
83.428.09
2. 133.391.27
17, 298. 68
648, 3i 8. 29
1.558.687.24
Total domestic bullion. .
19.r3.48
802.489.03 ‘1.560.390.48
1.578,164.05
2,569,268 82
Domestic coin, mutilated .
Domestic coin, transferred ....
3, 159. 58
370.70
143. 51
32 u>
739.018.34
36,849. 75
73,552.70
Trade dollars .
116.42
Foreign bullion, unrefined ....
Foreign bullion, refined .
149, 159. 40
318, 167.09
25,594.68
500-11
1,530.020.95
M0V 685. 39
Philippine coins for reroinage. .
9.457,225.07
93
Philippine purchases .
Foreign coin .
i<57. 57
22,875 34
5.293.92
Philippine assay coins .
7,420.24
Jewelers' bars. old plate, etc. . .
Surplus bullion .
87.072.26
6.713.54
124.40
15,282 78
7.528.39
3.280.70
1.647.74
27. 40
27.00
533.362. (10
951.58
675 54
Deposit melting-room grains. . .
Sweeps from Helena.
' 80 .77
27! 55
Sweeps from Charlotte .
1.33
Assurers’ remnants . . .
Total deposits .
1,012.3*82
10.644.959.18 1,090.586.28
1,583.097.46 l
1,589,204.80
‘ Kedcposits.
Fine bars . .
Unparted bars .
Mint bars . .
200,188.24
94 618.01
2,258,138.87
995.868.49 1
56,067.84
NO. 98
190,425 15 1
’lul 17
Total redeposits .
3,454.195 60
56,067.84
80.98
190,42515
94,732. 18
Total . . . . .
4,466.522.22
10.7O1.CH7.O2 1.690,667.26 :
1,774.122.61 5.683.996.98
REPORT DIRECTOR OF MINT.
97
Value, at Coinage Mints and Assay Offices during the Fiscal Year 1909
Carson
Boise
Helena.
Char¬
lotte.
SL
Louis.
Dead wood.
Seattle.
Salt Lak<
City
Total
12.30
11.547.12
152,923.25
23,767 R5
12.06
320.27
•8-39
•140,053.82
61.32
29 99
10.30
4.50
1.04
4.19
; .
1,019 12
1716.45
)" .
S.L320 86
367,013 79
286. 19
29,751.62
17,761 29
6.00
.29
124.63
28,592.64
339.09
24.97
372.00
1.73
.
163- 71
64,962.20
126,518.86
204,008. 92
514.35
6,950 08
.13
208 05
227,630.84
.38
36. 35
50.666. 22
433.63
48,734.78
29.96
3,450.36
1 .
2.26
24,748.44
440.81
5, 195.60
43
74.72
L25
23. 49
$113,120.01
1.30
.25
59.93
281.02
11,341.62
9 06
669.21
67
171 31
126.44
332.64
85
.52
8.00
7. 15
16.83
8 89
166.00
50,355.90
34,604 24
54,602 61
592. 15
345.96
49. 10
113,120 01
141,360 67
25,044 29
1,320.028.71
104,307 70
5,625,570.64
.
50,355 96
34,804.24
54,002. 81
938.11
49. 10
113.120.01
141,360 67
25,044.29
6,949,907.05
3,712.42
849,420.85
116.42
267 50
29.37
35,048.26
30
2,067,793.66
940,685. 30
9, 457,225.07
.93
.17
28,337. 00
i
7, 420. 24
9«
45 75
29.04
814.99
339.25
22.42
647,787 72
24,267. 49
1,146. 10
27.06
14 94
37.72
16 29
65
8.00
49 85
80.62
1.91
1.33
17.77
50,380.44
34,841.96
54,932.52
967.70 902.06
113,1(9.86
176,828.70
25.068.92
20, 977, 926. 50
294,806.25
12.58
2.28
2,504,780.89
995,949. 47
— - 1
. 12.58 .
2.28
3,795,536.61
~50,3fi0.44
34,841.96-54,945.10
967.70
002 06
113,169.86
170.83098 :
15,068. 92 :
54,773,463 11
19711—10 - 7
■saassassasasaasa ass a asasssssfisssssss $ s«
REPORT DIRECTOR OF MINT.
No. 5.— Bars Manufactured of Gold a.vd Silver,
Philadel- San Fran- New Or-
Den-rer. New York. Canon.
Fine bars _
Standard bars
Unparted ban. . .
Total gold .
4SS.3KL797 12S.48LW0 836.805 66a «2 2. 106, 302. 152 .
. . . . . 37.S33.310 .
. ! . . 1.059.210.0MO 137. 186.606
Uict ban .
Unpartod bars..
4K.1S2.7I7 12S.4SL 600 836.8*5 65a 9823. SB, 345. 552 137,186.606
1,061,507 950 2S5.553.4i> W0. 530 1.984.5802,219,234.530 .
^ . . 1.0*7.961.260 .
. . 1,684. 362. 040 43.295.600
1.061.597 «0 255 553.0 *00530 1, 984- 580 4. Ml. 44b. 120 43.296 090
No. 6. — Bass Manufactured of Gold and Silver.
PhftadH- San Fran- New Or-
DeaTer. New York. Canon.
. *> 271.966. 04*2, SH.S41.3Mlt.JM. 09512.
. . f . . - 703,8
. . . . . . 19. 706. 2
. 9. 27L 866.04 2 X34 541.39 15,364.09 12. MR 06 59, 596,3
109.06 SJ9 .165,156.32 .
703,875.54 .
706. 234. 25 *2,552,300.07
506,266. 11 2,552,309.07
REPORT DIRECTOR OF MINT.
99
dy Weight, during the Fiscal Year 1908.
- - i— !
Boise. Helena. Charlotte. St. Louis. Dttdwood. Seattle.
*
Stand, os. Stand, os. Stand, or.
Stand, ox. Stand, or. 1 Stand, at.
. 19,268.122
Stand, ot. Stand, ot.
1 . :::::::
. 37.833.310
50,318.046 09,376.356 6,917. i>49
20, 700. 670 65, 402.720 1,009, 363- 500
27,412.218 2,489,947.030
56,318.046 99,376. 356 5,017.649
20,760.670 65,402.726 1,028,621 601
27,412.218 5,278.563.068
1,027, 861.260
20,042.320
47,207.640
831.620 775.210
255.350
151,002.170
21,543.610
1,080,175.650
20,942.320
47,207.640
8*1. IQ0| 775.210
m m
151,962. 170
21,543.010
6,537,088.210
by Value, during the Fiscal Year 1909.
Boise. Helena. Charlotte. BL Louis. Dead wood Seattle. fotal.
*1,047,774.02
1,047,774.02
34,841.06
34, 841. Hi'
1.0S2, 615. OH
*1,848,' 862.' 00 *ii6. 006. 85*653,680. 47 *1,210,7*5. 67,111,77*, 8*0. 11 *M0,004.
*358,200.64 . 1*51, 177, 347. .54
. I 703,875.54
46,324,007.06
1,848,862.00 110,095.55 553,086.47 1,216.702.
at in, no,
67 10. 137.
146.75 500,004.62 08,305,831.04
54,932.52
" 007. 70 002.06 11*, 160.
54,032.52
. 4,106,529.22
. 1.106,056.74
176,828.70 25,068.92 2.417,077.08
002.06 118,100.
176.828.70 25,008.02 7,710,663.04
00.1,7114 62 111.063. 55 554,-VSS.M 1.320. 43 10 113. >.5 45 535,06.1. 54 106, 926. 494, OS
100
REPORT D1 HECTOR OF MINT.
No. 7. — Coinage of the Mints of th* l nited
Silver;
Peso.
2&.5K3.413.3S ••3S0.KW 53,371.240.00
PmumsE Coinage by San Francisco Mint.
oO*ceniavo. . ' iaStL.
JO-ccntavo . -
10-oenlavo.. . — ^
San Salvador Coinage by San Francisco Mint
10-oentavo
Bronie:
i j l-oent*vo .
705,000
1.740.000
. 3.034.012
Silver peso
Pieces.
*83,170
REPORT DIRECTOR OF MINT.
101
HTATE8 DU UNO THE FlftCAL YEAK 1909
New Orleans.
Dmvw,
Total.
Pieces.
Value.
Pieces.
Value.
»_ _
Plecw.
Value.
401,250
*8,025,000.00
3,258,860
*65.177,200.00
058,000
0,580,000.00
1,646,411
16, 404, 110. 00
34,200
*171,000 00
2,570,000
17,850,000.00
4,865.315
884.883
24,326.575.00
2,212,207.50
34,200
171,000.00 1
4,029,250
&5. 455,000. 00
10.656.400
108,180,092.50
3,667.400
2,012,000
4,070,000
1,833,700. 00
738,000.00
407.000.00
780,000
7,188,000
4,080,000
390.000.00
1,002.000.00
468,000.00
6, 848,000
20, lib. COO
26,400,(410
3,424,000.00
5,020, 150.00
2, 640, Ui). 00
10, 050, 400
2,060, 300.00
13,428,000
2,850,000.00
53,371,200
11,093,810.00
11,588,558
570.427.90
54.602,205 ,
540,022.95
. d
66,250,853 '
1,126,050.85
10,089,000
3,140,300 00
18,367,250
38,306,000.00
130,277,622
120, 390,053.35
102
REPORT DIRECTOR OF MINT.
No. 8.— Mutilated and Uncurrent Domestic Gold and Silver Coins Trans
DURING THE
Philadelphia.
San Francisco
New Orleans.
Denomination.
Received
from
Treasury.
Purchased.
Received
from
Treasury.
_ Received
Purchased. from
Treireary.
Purchased.
GOLD.
Doable eacksa .
Katies .
Half eafies. . .
3407,30) 00
eo:,«o.oo
1,117,005 00
27 00
•.112 30
7100
3a2, 640. 00
06.300 U0
115,733 00
54.00 .
Id, 540. 00
1,000. 00
$s,4Saoo .
1,93(100 .
114,640 00
12,050 00
23.04a 00
Thrse-dollar pieces . .
Quarter
2,3301 00
2.300 00 .
6-00 .
Denars.^. .
2,307 50 .
230 0) .
na oo .
362 50
1.00
Total Cold bis* nK»
la oo .
Trade dollars _
Standard dollars
Half dollars ....
Quarter dollars.
Twenty -cent pleore
Half dimes. ..
Three-rent pieces .
Total silver, face \ due
mntujLmr.
Los. cold.
s%&> s“^Sb
31. 780 32A 730 63,200.400
HSO.74 ~U2,Sl*.l2 .
». 400 00 402.77 J7\643 11
REPORT DIRECTOR OF MINT. 103
PERKED FROM THE TkeASIRY AND PURCHASED OVER THE COUNTER FOR ReCOINAOE
Fiscal Year 1909.
Denver.
New York.
Chnrlotte.,
St. Louis.
Seattle.
Total.
Purchased
Purchased.
Pur¬
chased
Purchased
Pur¬
chased.
Received
from Purchased. •
Treasury.
Total
$103,740.00 $140 00 $133,200.00 $20 00 $410,900.00
239,880.00 10.00 116,290.00 40.00 009.030.00
194,375.00 . 213,806.00 25.00 1,119 426.00
96.00 . . . 27.00
3,016.00 .. 42.60 . 9,312.60
117.00 . 2 00 . 79.00
$313,060.00
430.500.00
553,390.00
aso oo
5,807.50
361.00
$723,960.00
1,045,590 00
1.072,81500
413.00
15, 120.00
440.00
$100.00
210.00
230.00
;o.oo
2.00
652.00
541,223.00 150.00 402,339.50 85-00 2,148,773.50
1,309,564. 50
3, 458, 338. 00
1
115.00 115.00
1.293 00 1,293.00
1,234.00 340,050.00
1,145.75 287,848.75
6.00 112.40
395.90 340,140.00
4.20 1,005.00
.63 147.48
13.00
11.00
8.00
.
. . .
339.425.00
286,703.00
100.40
345,744.70
.10
1,000.80
146.85
32. 10
f
973,126.76
4,194.48
977,321.23
Stand, oz.
27.494
28.040
Stand oz.
28,809.040
Stand, oz. Stand, oz
7.470 24,026.240
Stand, oz.
4.373
Stand oz.
114,750.600
729,971.040
Stand, oz
69,734.953
3 290.420
Stand, oz.
184,485.513
733,261.460
$611 52
34.88
$535,982.15
$138.98
$458,162.60
$81.36
$2,134,894.13
908,206.58
$1,297,394.49
4,093. S2
$3,432,288.02
912,300.40
40.48
5,240.85
11.02
4,176.90
3.64
13,879.37
64,920.17
12,170.01
100.66
2.78
26,049.38
65,020 83
2. 78
2.78
I
BEPOBT DffiECTOB OP MINT.
104
Xo.9.-A«srw a vd Uamihes or ni I'srrto
Asm
G«M ]
Sftmh
— - - -
_
Qmmxr.
T **■
Q“*T
V»loe (M).
*.jil an
sic rw in tm
4, l415JH.fl
C.K.XtM
I<B,THkHS
XL MS. *7-41
LC5.PS4.43
(00. 510-9
145JPLCT4
2. 73P. WB CS
L444.Me.C7
9 SBC 21
1.541 015 57
55 2US
r.mia
4.K4.7M.2P
87.310
19,959
*5 875 90
7.959551
95 777 23
152.(75 9
1%I3
OP 4*L»
1 (CL 23
(30 9
*.5® IK
» *0.90
IMS
1,12 U
(Ml 9
2..0I7.7K
rs«ji
moss
Iffl
ttUffl
45 9
H. 71
1.95217
9,(85 39
4.065 19
r.w’2
LS9.71L9
75«9»
IMft
15(9X9
5 7259
‘LBS.* 9
52009
L24.5J
IMP 237 447
•-■mb*
199 3
5564,97-72
LIABILITIES.
TafttU
. U*v*L BC 34
NVwo^ss:;; .
. SI«MC8
- T,rt- . 1 iL«r,*iLa
. ®*. 447 33
. asxisBL*
. •U14S
. (571545
. 2N.SSLW
• . - . IUM.M
“• utdi^:::::::: : ::::::: 4 SS5
I°**1 . - . KS.Jr.su at '
fliErr
>,cavS5
732. SO
&-**<» .
3ss « - ■
i— _ _
. :
93. IS
LXXL9
REPr^RT DIRECTOR OF MINT.
10O
Stats* Mxvt> and As*at Omcts, Jr vs 30, INI.
ASSETS-
106
REPORT DIRECTOR OF MINT.
No. 10.— Earnings and Expenditures of the United States
EARNINGS AND GAINS.
Mints.
Items.
Charges for parting and refining .
Charges for alio v . .
Charges for assaying and stamping .
Seigniorage on minor coinage .
Seigniorage on subsidiary coinage. . . .
Seigniorage on reeolnage of minor coins .
Profits on medals and proof coins . .
Charges received for mounting, etc., tnedal fund
account .
Charges for the manufacture of medals, etc _
Deposit melting-room grains and sweepings .
Surplus bullion recovered by operative officers
Gain on bullion shipped to mint for coinage. . .
Proceeds sale of old material .
Receipts from special assays of bullion and ore. .
Receipts for manufacturing appliances for gov¬
ernment and other Institution* .
Charges received for coinage for Philippine gov¬
ernment and San Salvador .
Gain on light-weight United States gold coin for
reeolnage .
Remnants of bullion returned by the ossaver. !!!!
Charges for treatment of deposit melting-room
sweeps . . ' .
Total... .
Philadel¬
phia.
S101,
2,
San Fran¬
cisco.
$54,143.81
4,337.36
New Or¬
leans.
$4,005.08
88.91
$86,519.21
3,721.58
2,070.
3,
4.
877.04 12,777.43
507.24 304.530.65
324.34 .
764.51 .
1,679,106.20
392.87 .
255.47 .
834.25 1.543.11
846.72 0,532.43
355.48
1,543.23
1.063.96
17,581.54
542.46
292.00
5,857.97 75.99
. 181,442.09
248. 58 2. 13
19.35
22.00
12.05
3,037,717.58
919.92
29.30
565,927.46 1,685,102.90
1,856,753.97
EXPENDITURES AND LOSSES.
Salaries of officers and clerks . $4! 550 n<>
Wages of workmen and adjusters . 401 405.07
Contingent expenses less amount to reimburse
■ wastage and loss on sweeps sold . 66 948 78
Parting and refining expenses less amount to re-
Imburse wastage and loss on sweeps sold . 71 . 634. 15
Wastage of thp operative departments . 4 . 457 61
^ astagi* of the operative deportments, minor
coinage operations . . . ' , w 7J,
Loss on sweeps sold during the year. . i’oiT
Expenses of distributing minor coin*. .
m<K^ ^un<^ (charges paid, mounting,
Ij(vn on rrv'ninnmt minor AAi« . ****** ****** • • 385. 50
$40,231.42 $27,264.45
278,424.66 60,044.78
71,322.55 14,589.61
73,312.75 1,655.26
16,068. 24 492.10
49.06 .
2,956.75 1,007.94
73.98 .
$37,899. 44
146,935.06
39.801.90
42.294.90
1,534.35
1,381.83
VJU jwomage oi minor coin . in
Loss on bullion shipped to mint for coinage. . . ' 060 69
Wastage, Philippine minor coinage . ] .
. 248. 53
2.92
Total. . . . . WWl 041 m
481,687.94
105,057.06
269,847.48
107
REPORT DIRECTOR OK MINT.
Mints and Assay Offices fob the Fiscal Year 1909.
EARNINGS AND OAINB.
Assay offices.
- - - - - . - - Triri
New Carson. Helena. Boise. 8 L Louis.
Salt Lake
City.
. 1200, 170. 82
tf.oso.™ ti.j35.V7 iiwog
...."IT. 843,664.47
. 6,800,017.80
. 1 . ;;;;;;;;;
. 382.87
22,633.35
326 07
443. 20 1. 002. 82 2,207.51 iZ7.34
. 34,829 09
644.01 678.72 702.28 202 05
. ns “7“ ''JSS
1,806-00 168.00 3.00 317.60 472.60
iw.oo 92.06 21.56 . 3,307.00
. 4,037.36
. 181,442.08
. r . ! .
. 260.71
74,250.12
4,610.25 4,320.30 4,662.76 1,166.00
676 73 2,372.88 25,503.08 791.05 7.263, 801.04
EXPENDITURES AND LQSBBS.
$37,595.01
32,004.10
7,842.61
68,378 92
2.28L22
86.000 00 15.450. 00
4,488.00 13,702.75
2,600.00 3,283.81
S3. 400 DO 12.740 00
8,11000 1,08000
1,80024 664.30
12,374.00
7C3.04
507.12
13.106.07
3,80000
653.73
10.25000 fl, 06066 $220,017.52
29,176.88 3,017.11 983,916.44
6,243.41 11,005.88 227,413 84
. 247,275.08
. 1,372.81
705.63
. 2,831. 60
. 385. 50
228.86
12.84
. 244. 62
130,136.34
12,088.00
22,436.60
13,310.24
4,404.20
3,700 05
7,72a 24
44.6G0.20 16,00A 54 1,727,471.06
108
REPORT DIRECTOR OF MINT.
No. 11.— Imports of Gold and Silver, by Customs District*,
Customs districts.
Baltimore, Md
Bancor, Me. .
Boston and Charlestown, Mass . .
Bridgeport, Conn. . .
Newark, N. J . .
New York, N Y.... .
Paxsaraaquoddv. Me .
Perth Amboy, N. J . . «. . .
Philadelphia, Pa.... . .
Porto Kieo . .
Mobile, Ala . . . .
New Orleans, La. .
Tampa, Fla . ’ .
Arizona . . . .
Corpus Christl, Tex .'.
Paso del Norte, Tex . .
Salurla, Tex .
Vlaska .
Hawaii . ”
Los Angeles Cal .
Puget Sound, Wash..
San Diego, Cal . .
San Fronclsno, Cal
Buffalo Creek, N. Y .". .
Capo Vincent, N. Y. .
Champlain, N. Y .
Chicago, III . .
Detroit, Mich . .
Huron, Mich . .
Meraphrenugog, Vt*.* .
Minnesota, Minn
Montana and Idaho .
Niagara, K.Y . .
North and South Dakota .
Oswegatchle. N. Y . .
Superior, Mich.., .
Vermont, Vt _
Denver. Colo. . .
Total .
Bullion, refined.
O uncos. Value. gggj Foreign
Coin
United
Total gold.
*365, S46 $365,846
Sb,&» $384 $608 8?SS
l'** 6,277
2, 60S, 70 i 2,580*899 12,465,270
77,099 1,050 WO 79,289
3,135,027
11,419
14, GOO
50
5,789, 121
29,960
3.5HS, 424
38,705
*749,* iff.
174, 723
883,477
3,900
75
1,000
120
37,490
321,490
507,154
lmsoo
* 88,'iii*
”’ii,*3«
2,851 7,’ 470
1 8.298 .
1 2c,755
01
. 17,385
iii
786,445
*5,839
59,833
- S81.467
2,150
24,335
REPORT DIRECTOR OF MINT.
109
into thk United States during the Year ending June 30, 1909.
In ore anil base
bullion.
Sliver.
Bullion
refined.
Coin.
Total silver.
Ounces.
Value.
United States.
Foreign.
i .
774,943
6398,611
*398,611
16,893
2,518
40 141
516,548
2,404
$54
40,141
6,074
3,118,050
0,404,302
4,807,561
222,746
12,624
74,025
60
*, 22^382
10,537,872
12,684
10,537 872
1,624
' 1624
11,200
11,200
9,tft2
9,032
96 ! 686
96 ! 686
506
2.916,882
20,394
3,375,390
3,119,720
14,004
4,867
500
2,308,964
1,083,809
49,238
3, 450, 'U7
4,420,338
607,918
26,309
1,761,964
2,282,350
25
1,609,581
837,370
14,004
1A,20O
87,654
4,867
580,062
254,102
. <
840,164
•
399,764
508,409
3,963,300
2,030,349
2,100
218, •■25
930
38,783
220,751
2.652,954
727,034
030
3,352,908
600.863
501
3.391,751
600,863
1,337,257
1.337,758
509,038
509,038
5,349
1,685,882
37,978
1,813,364
5,661
335
2,336,105
1,208,710
» 4,
38,313
1,813,364
‘ 307,517
189,830
.'l AM
257,133
45,346
149,751
149,751
28,573,696
24,672,808
12,700,643
2,185,427
495,044
43,954,810
110
REPORT DIRECTOR OF MINT.
No. 12. Import* of Gold and Silver, by Cocjktk ieh, into
Gold.
Countries.
Ld on and
baae
bullion
Bullion, red owl.
O roots. Value. ggff Foreign.
Total gold.
Aintna-lluLivviry .
Azores , and Madeij
Irene* .
Germany.
Grew*
Italy .....
Netherlands .
Portugal
Hervla . .
Spain . _ ...
Sweden . . .
Turkej in Europe .
United Kingdom -England
limn ml* .
British Honduras .
Canada.
Notw Scotia, New Bruna-
wkk.alc .
_ uriu^coiirobiE..
Newfoundland and Labrador
Central American States
Costa Rloa
Guatemala _
Honduras .
Nicaragua.
Salvador..
Halloo
Waal Indies
Brituli .
Cuba. . _
Danish .
Dutch _ .
French .
Haiti .
Santo Domingo
<'^“n* .
Colombia .
Ecuador.. .
Galana
BrHiah .
Dutch .
Peru .
Uruguay . ;
Venezuela .
Chinese Empire _
Japan. ..77... .
Korea . ; .
Kuasta— Aslatfo
Australia and Tasmania
French Oceania .
Philippine Islands
German Africa...... ;
Total . . .
55,005
91,066
H Ml
<>7,637
4.860
10,W6
' 471 ‘
’2.M0
13,700 .
9,294
3,754
534
<77,351
11,008
•550
4,053
2,076
<2,290,348
I5M
2,300,009
22,378
33
078
10
85
90
678
10,079
961
2,637
19,813
56,449
o'iio
1,213
. '<,iio'
19,818
09,741
I9,75i
127
2,610
420.731
M17
10,216
2,010
470,015
14,509
14,509
16, 192
215,012
1. 137,602
6.306
139,770
112,6,19
105,467
2,247,170
Z.224.48U
17,870
1,434
1,017,094
244,656
1,146
72,505
186,241
4,133,071
0,000,827
17,870
16,272
25,094 1
510,931
109,044
40,090
725,975
237,592
716,864
.471,471
3,204
5.356
2,007
35,2fs,
010,122
07,313
110,397
41,326
727,021
12.568,726
1,000
2W)
8,018
10.296
0,713
it. 272
306,905
829,481
41,326
735,039
19,000,205
7*
IV
36
ino, g*
15,100
1,006
m
713
557.932
1,446,325
18.546
25, M0
7,407
138,374
0,V96
01,070
1,430
26,423
513
008,446
1,1
12,199.420 1,
4,660
2,308
90,318
6,572
208
. fj
90,402
52.807
1,M0,5W
135,417
5,530
75,445
040
67u
5,000
250,000
3*701
248,065
4,040
S3 ,*208
2,802
58,924
800
’ '5,'374
6, 491
1U,082
. 16,740
56,470
87/272
1,798,008
• 25,975
1,073
720,976
34,317
wu . .
1S3.«0 23,030,084
19,976
63,
8,406
141,156
79,206
152,137
146,153
1,890,8W
701,710
10,399
0,252
103,367
<5,609
' i80,851
13,700
25,976
2,520,060
150
30,067
I .
4,042,090 3,521,895 44,003,989
REPORT DIRECTOR OF MINT.
Ill
the United States during the Year ending June 30, 1909.
Bullion, refined. j Coin.
In ore and Total silver
base
bullion. Ounces. Value. United States. Foreign.
112
REPORT DIRECTOR OF MUST.
No. 13.— Exports, et Ccftoms Dbtotts avo Cocsttos. or Domestic Gold
BtKar M
JB
MT
$ 422
x j _. .
ftv Tck, X. V .
Perth -i*bor N. J —
KMi
Eir.iai «7 2T2.XE
MotOr Ate .
NffOrtfft.' La..
Corpus Ckbti. Trx _
. .
ai.Sl 91
xM» AM
f _ it3.se
Paste Narv. Tex _
Ena
7
m
itete.
Hand .
. C2,«M
MM
o.«b
23S »4
HE (p
Prx~i Sorn-J. w *fc . . .
isr m
lib
1AM
7.4*
siio
1UB AL)
astt i««;:
id ooo aa.«er
ILMkflOO ILt 8SODO
. no
Sob Freac&ro. Co! . . . .
MafeOrerk X Y._
rfcwylur X. Y _
Drunt. Um±
S.8S7 «BB
1AIC
Xacn X V .T
Oswr^kStt^ S Y .
xrsi
SL«t
3AAB *t:«>
2,541
Total . .
«C« 1
=.ci«
<UMHI
*M.a» «17.al4.7«:
Eocteo*
«• 4ia «1.<3B.«BD
< 0® I"* A«W. 17*
REPORT DIRECTOR OF MINT.
113
and Silver from the United States during the Year ending June 30, 1909.
114
REPORT DIRECTOR OF MINT.
No. 14.— Exports, bt Customs Districts and Countries, op Foreign Gold
-
COLT.
Customs districts sad countries.
- r
In ore and
Bullion refined.
Total gold.
h^°1"
Ounces.
Value.
CUSTOMS MUBLIL
New York. N. Y . . .
New Orleans. La . .
-}•*“ . f
X1.9S4. 170
tl.f34.17D
brains de Santoro, Tex .
Paso del Norte, Tei . .
t
*i®
* ift)
J.VM2
5. M2
t.«S25
5.129
Hawaii . .
S.025
5.LS
Ban Fraartano, CaJ .
Boflalo Creek. N . Y .
. a
. 1147
. i'M'
288,3 €2
. 2.874
288,342
Champ ism. N Y . . .
Detroit, Mkh. . . .
Otweratchae, N. Y .
fci. :t
Vermont, Vt. . * .
. i.
i:::::::::::
57.112
. 57.112
Total . . . .
5. AC
a
1 367
2.283.205
2,280.154
coorraos.
IU»T .
German r .
United King iom— England . . .
Bermuda .
— - . |
.
188,130
29 W
188,1 2D
29.400
Canada
Quebec, Ontario, etr .
jj
1.147
3AS 281
Bn&tsh Cofcnabta . .
AM2
5,*2»
348. 425
11.671
Central American d tales:
Nka'agua . .
Salvator . .
Mexico .
West In W
British .
. L
1W
lw
Cuba . .
Brasil . .
. — -
2.300
6.300
Chile .
Guiana -British _
British Oceania
Australia and Tasmania .
AU other British Oceania ...
Dt Aid
Total .
A at*
1.307
2.20,205
2.290.354
i !
' * * **-
Q
REPORT DIRECTOR OF MINT. 115
and Silver from the United States during the Year ending June 30, 1909.
SILVER.
In ore and base bul-
Bullion refined.
Coin.
lion.
Ounces.
Value.
Total silver.
♦87,238
♦699,170
45,660
7,968
37,556
3
3
15,482
17A* S?
6,450
3 874
9* *11
176,553
29, 185
i ' lin
46,377
162,278
lf JiQ
1, 140
15.220
7,876
6l) 112
- - 1
MvAlu
62,278
1,073.450
623,682
406,524
1,182.484
1,848
1,051,780
(ill 032
9,647
JO. 840
642,772
62,278
21,670
11,750
126,064
200,092
16,835
. i
1 "VI*
51914
51 914
7,407
4,583
7,407
4,583
62.278
1,073,450
623,682
496,52 4
1, 182,484
116 REPORT DIRECTOR OF MIST.
No. 15.-Reumrunox or loom in Envsrr* or Golb a.vd Shte* btiug
THE Vus INWXi Jl XI 3t\ 1909
a.«m l.ac
WS
22.<T~M2
4
rai*^ rate
!*.**. “4
c iT «a
3*1. SB* ..... .
ME X4
s.n.«
«.r> Bsaict
.
€3.*4C riflCTLAa
x23
JM iu
*> -«t 2.«8,«3
- ^ - - 1.
Auai
<A.«e.7C fi.JK.UC
S4.X3.9M
tort *c
REPORT DIRECTOR OF MINT. 117
No. 16. — Traxsit and Transshipment op Gold and Silver lv the Customs
District of New York a during the Year exdixo June 30, 1909.
118
REPORT DIRECTOR OF MINT.
No. 17. — Seigniorage on the Coinage op Subsidiary Silver and Disposition op
the Same during the Fiscal Year 1909.
Balance and seigniorage.
Profits deposited by the mints in the Treasury.
Balance on band July 1, 1908:
Philadelphia . $56, 872. 45
San Francisco . 57, 493. 71
Total . - . $114,366.16
Seigniorage on subsidiary silver:
Philadelphia . 2,070,507.24
San Francisco . 304 , 530. 65
New Orleans . 1, 6 79 , 106. 20
Denver . 1,746,773.71
- 5, 800, 917. SO
PHILADELPHIA.
Warrant No.:
292 . $56,872.45
325 . 426,285.84
H25 . 136,148.65
2087 . 100,991.82
"49 . 193,377.91
1314 . 505,108.35
2716 . 457.097.85
2716 . 249.000.00
Total . $2. 125,782.87
SAN PRAN CISCO
Warrant No.:
291 . $57,494.00
2399 . 42,050.60
2089 . 249.141.90
1311 . 13.337. 8G
To**! . 362,024.36
Warrant No.:
1656 .
NEW ORLEANS.
2400 .
63 .
995 .
1710 .
324 .
1123 .
2QS8 . iKfi'rtnn
747 .
1313 .
Total . 1,679,106.20
Warrant No.:
DENVER.
1655 .
2398 .
G2 . .
994 .
1711 .
323. ........
1124 .
2090 .
74S .
748. ........
1312 .
2717 .
2717 .
. 5,015,283.96
111 Tr«»sury. 5.913,1*7. 14
Balance on hand June 30. 1909:
Philadelphia . 1,596.82
T°tal . 5.915,283.96
REPORT DIRECTOR OF MINT.
119
No. 18.— Average Price of an* Ounce or Gold in London and Equivalent
Value in United States since 1870.
Calendar year.
1870..
1871..
1872..
1873. .
1874 .
1875..
1870.
1877..
1878..
1879..
1880..
1881..
1884 .. .
1885. .
1880 .
1887. .
1888.. .
1889
1890
1891 .
1892
1893 .
1894..
1895.
1890 .
1897..
1898
1899
1900. .
1901..
1902..
1903
1904 .
1906
1900. .
1908.
Mint price. .
Bank price
Average Lon¬
don price.
Equivalent
value in
United States
pold coin of
an ounce of
gold. British
standard 1
(0.910)1.
Value in
United States
gold coin of
an ounce
1,000 fine.
Per cent
premium
above Bank
of Eng¬
land's mini¬
mum rate.
£ M. d.
3 17 9.01
118.91*7
320.638
0. 00100
3 17 9.01
18.9187
20.638
00106
3 17 9.24
18.9233
20.613
02571
3 17 9.28
18.9241
20. 644
03000
3 17 9.00
18.9185
20.638
.02431
3 17 9. 23
18.9231
30 643
3 17 9. 30
18.9246
20.645
03215
3 17 9.42
18.9270
20.647
.04501
3 17 9.41
18.9268
20.647
.04394
3 17 9.11
18. 9307
20.640
.01178
3 17 9.15
18.9216
20.641
.01607
3 17 9.35
18 9256
20.646
.03751
3 17 9 .43
18.9272
20.647
04607
3 17 9.18
18.9221
20.642
.01920
3 17 9 .32
18.9250
20. 645
(0429
3 17 9.17
18.9219
20.642
.01821
3 17 9. 10
18.9206
. 20.640
.01071
3 17 9.01
18.9187
20.638
. 00106
3 17 9.21
18.9227
30.642
.01W4
3 17 9.04
18.9193
30.639
.00428
3 17 9.44
18.9274
20. 648
.04715
3 17 10.29
18.9446
20.666
. 13830
3 17 10.17
18.9422
30.064
.12542
3 17 10.57
18.9503
20.673
.10830
3 17 9. 33
18.9256
20.646
.03747
3 17 9^03
18.9191
30.639
.00324
3 17 10.10
18 9420
20.664
.12433
3 17 11.23
18 9637
20.088
23901
3 17 10.40
18.9481
20.670
15648
3 17 9.27
18.9240
20.644
.02990
3 17 9.91
18 9371
20.658
09870
3 17 9.83
18.9350
20.657
00078
3 17 9 .55
18.9300
20.650
.05051
3 17 1000
18.9404
20. 662
11570
3 17 9.94
18.9380
20.059
10337
3 17 9.42
18.9272
20.648
.04630
3 17 9.82
18.9355
30.057
09000
3 17 9.95
18 9381
20. 060
.10359
3 17 10. 19
18.9429
20.665
12935
3 17 10.50
18 9491
20.671
16208
3 17 9.00
18.9185
20.638
No. 19 Bullion Value of the Silver Dollar (371$ Grains of Pure. Silver]
at the Annual Average Price of Silver each \ ear from 1837.
120
REPORT director of mint.
No SO.-Phoduct of Gold and Silver in the United States from 1792 to 184-1
and Anncally Since.
(The estimate for 1793-1873 b by R. W. Raymond, commissioner, and since by Director of the Mint ]
Gold.
SUrer.
1 - - -■ — -
Calendar v«r.
Fine ounces.
Value.
Fine ounces.
Commercial
value.
077.250
$14,000,000
Insignificant-
July 31. 1834. to Dec. 31. 1*44 .
1845 .
1846 .
1*47 .
362.812
48,762
33.341
43.005
7.500.000
1. 008. 000
1. 140 000
889.000
193,400
38.700
38.700
38.700
$23.< .400
50.200
50.300
50.000
Total .
1,187. 170
24.537.000
300,500
404.500
1&4M .
^83.750
10.000.000
3S.700
50.500
1.935.000
40.00u.000
38.700
50.700
ISaO . .
2.418.750
30.000.000
38.700
50.900
1851 . . .
2,600.625
36,006.000
38.700
51.700
1852 .
2,902.300
00 ooo. ono
38.700
51.300
1RS3 .
3.144.3.5
•k5 ooo non
38.700
38.700
52.2U0
1834 . .
2.902. 3U0
60 000 000
52.200
1835 .
2,060,025
55.0U0.UI0
38. 700
52.000
1836 .
2.660.G25
55.000.000
38, 700
52.000
1857 . . . .
2.660.626
55, ax', ooo
58.700
52.400
1838 . . . .
2 418.750
5o.a«» ooo
58 700
52.000
1839 . .
2.41s. 780
50.000.000
77.300
105. 100
i860 .
2.225.250
46.000.000
116,000
156. Stt)
1861 . . . . .
2.080.125
43.000.000
1.546.900
2,062.000
1 862 .
1.806.300
39.200.000
:i 4«o 5oo
4. 684.800
18U .
1.935.000
40 000 000
6.574.200
8.842.300
l».t .
2.230.087
46. 100.000
8.507.800
ll.443.0tt)
1*5 .
2.574. 759
53. 2*25. OnO
8.701 200
11 642.200
1866 .
2.388.062
53.560.000
7,7.44.400
10, 3* 400
1*57 .
2.502,196
51.726.000
10,441.400
13. 8«». 200
1868 .
2,322.000
4S.ttM.Ottl
9.281.JJ0
|. 12 36
1869 . ...
2.394.562
41.100,000
9. 281. ‘200
12.297.WW
1870 .
2,418.750
SO. 000. 000
12.373.000
16.434 000
1871 .
2. 104.312
43.300 ran
17.789. 100
23.388.JJO
1873 . .
1.741.500
36.000.000
22.236.300
29.396.400
Total .
M. 279,778
1.204.750.000
1 IS. 568. 200
157,749.900
1873 .
1.741.500
36.00. 000
27.650 400
1874 .
1.620.122
33. 490.9(0
28,868. 201)
36. 917.500
1S75 .
1.619.009
S3. 467.900
24.5*9 300
30.483.900
1K76 .
1.931.575
39.929 300
29.996.2ttl
34.919. stt)
1877. .
2.2G8.W»2
4G. 897. 400
30.777.800
*.991. 500
1878. .
2.477. 10J
51.206.400
38. 900. 000
35.022.300
40.401.000
35.477.ltt)
1879 .
1.881.787
31.5u5.300
1880 . .
1.741.500
36.000.(00
30.318.700
34.717.000
ISK1 .
1.678.612
34.700.000
33,257.800
37.657. 500
1883 .
1.572.187
1.451.250
32. 500. WO
30.000.000
36. 196. 900
35, 732. 8ft)
41.105.9tt)
39.GI8.4O0
1883 .
1884 . .
1.4*9.980
30.800.000
37,743.-800
41.921.300
1883 . .
1.328.373
31.801.000
39.909.4Uil
42.503.500
1886 .
1.686.78*
34. 869. ono
3y.UH.00U
39.482.400
1887 . .
1.603.049
1 UM.47S
33. 136.000
33. 167.500
41. 721.600
45.792.700
40. 887. 2W
43.045. 100
1888 .
1889 .
1.504.773
32.967 000
50. 094.5(1)
46.838.400
1890 . . .
1. 588. 877
32.843.(00
54 5 16 . XX)
57.242. 100
1891 . . . .
I 604. MO
33.175.000
58.330.000
57.630.000
1892 .
1.597,008
33.015.000
C3.500.000
55.662. 500
1*93 .
1.739.321
35.955.000
60.000.000
46.800,000
1894 . .
1.910 813
39.500.000
49.300.000
31.422 IW)
1895. .
2.254.710
46,610.000
55.727.000
*.445.500
1896 . .
2 568. 132
53.088.000
58 8*4.800
39.G54.IO0
1897 . .
2.774.935
37.363.000
53. 800. 000
32,316.000
1898 . .
3.118.398
64,463.000
54.438.000
32. lift. 400
1899. . . .
3,437.210
71.053.400
54.764.500
32. 858. 700
1900
3.829. WI7
TV. 171.001)
57.647.000
35.741 100
1901 . .
3.805,500
78. 6. .6. 700
55,214.000
33. 128.400
1902. . .
3.870.0110
80.000.000
55.500 000
29. 415.000
1903. ........ .
3.5(10.000
73.591,700
54.300 000
29. 322.000
1904 .
3,892. 4S0
80.4M.70Q
57.682.800
33. 456, (X)0
1903 . . .
4.265. 742
88. ISO. 700
56 101.600
34.222.000
1006 .
190. .
1908.
4.565.333
94.373.100
56.517.900
?S 256. 400
4 374. S27
90.435.700
56.514.700
37.299 TOO
4 574. 340
94.560.000
52 440.800
28.050 600
Total .
SS.S33.2U
1.836.344.000
1.664.271.300
1.379. 892. aX)
<irand total .
14S.300. 179
3,065,631.000
1.783,149.000
1.538.046 tt)0
REPORT DIRECTOR OF MINT.
121
No. 21. — Product op Gold and Silver in the World Since 1860.
IT be annual production of 1860 to 1872 Is obtained from 5-yenr period estimates, <vra piled by Dr. Adolph
1 Socthecr. Since 1872 the estimates are those of the Bureau of the Mint ]
Gold.
Sliver.
Calendar yiar.
I8«n..
1861 . .
1862
1801. ...
1865.. .
1866. . .
1867.. .
I8ti8 . . . .
1860
1870. .
1871 . . .
1872.. .
1873..
1874
1875..
1876..
1877..
1878..
187U .
1886.
1887
1890
1897..
1808 .
1809
1000..
1901
1002
1903 .
1004
1005
1900.
1007 .
1908 .
6,486,262
3.049.582
5,049,582
5,049.582
5.040.582
5,040,582
6,270,086
6,270.086
6,270,0m.
6.270,086
6.270.086
5,501,014
5,501.014
*134.083,000
122.989.000
122,989.000
122,080.000
122,080,000
122,080,000
120.614.000
129,614.000
120,614.000
12V, 014.000
129,614.000
115.577.000
115,577.000
78, 766.630
4 * * <
4. <90.031
4.718,563
5.016,488
5,512,196
5,761,114
5,262.174
5,148.880
4 lev!. 7 12
4.934.0W
4.614.588
4,021.110
5.245.372
5,135.670
5.116,861
5.330.775
5,073.790
5,749 .306
6,320 194
7.004,266
7. (>18.811
8,764,302
0.015, 1M)
0.783.014
11.420.0M»
13,877. 806
14.837.775
12.315, LIS
12,625,527
14. 354. <50
15. 852, <20
16.804.372
18.396,451
19.47l.U80
19,956.283
21,378.481
29,095.428
35 401.972
35.401,972
35.401.972
35.401.972
35.401.972
43,051.583
43 051.583
43.051,583
43.051.583
43.051.583
63.317.014
63,317.014
Commercial
value.
$39,337,000
46. 191.000
47, <51. GOO
47. (>1> >,000
47,616.000
47, 3< >8, 000
57,646,000
57.173.000
57,086,000
57.043.000
57.173.000
83,958.000
83.705.000
1.628,252.000 I 547,907,231 729. 563.000
96.200.000
90.750.000
97.5OG.UU0
103.700.000
113.947.200
119.092.SI0
1IW.778.SI0
106,4,tt>. 8O0
ini • i""
101, 990,600
95.392,000
101, 729.UI0
HW, 435.1 U0
106. 163.900
105.774.900
HO. 196,900
123.489.200
118.848.700
120,(50,000
14i..t51/50O
157.494.800 !
181.175.0)0
196.763.(00
IOC, 351.600
236.073,700
•X..879 Ttn
306.724.100
254,576.300
200. 992. 900
296.737.(00
327.702. 700
347.377. 2U0
380.285.700
402, 5U3, (XU)
412,532 000
441.932.200
68,367, 187
S5.:.W).781
(2,261,719
67.753.125
62. 67V. 916
85, 451
7 4. 38.’. 495
74,795.273
79.OJO.872
66, 472, (Ml
89. 175,023
81,547 SD1
91,(09.959
93.297.290
96, 123, 580
108.827.(06
120. 213, fill
126,095,062
137.170,919
153. 151,762
1(5,472,621
164.610.394
1<, 7. 500.9(0
157.061.370 1
ICO, 131 002
119.055. 253
108,337,453
173,591,364
173,011,283
162,763, 483
107,089.322
1(4,195.2(6
172,317.(88
165.054.497
184. 194,090
203, 186, 370
82, 120. MW
70.674.400
77.578. 100
78. 322. < (6
75.278.(00
84.540,000
S
85,640.(00
89.925.700
98. 232, -100
98.9M.300
90 785.000
97.518.810
92.793.500
94.031.CW)
l<r2,185.VOO
112,414 100
131,937.000
135.500.200
133.404.400
129.119.900
104.493.000
109.545, tOO
105, 859, tOO
96. 252. 700
99,742,(00
101.002,(00
107. (26.400
l03.MXi.7U0
86.264.700
10.552. t<xi
96.233.500
105,113,700
111.721.100
121.5(8,100
108. (84 400
Total .
Grand total . 411.7J0.334
6,882.7(4,200
8.511.016.200
4.515.015.025
5,0(3,012.256
3.591.986.300
~4. 321.549. tOO
122
REPORT DIRECTOR OF MINT.
No. 22. — Coinage of Nations.
<•5.527 704,207 152.W50
OT.dfiO . . 2,344,468
5.060,33b 1.030 3.263,078
. 2, 315,280
1,342.801 ..
714,428
653,305 1,370.300
1,323.756 4,708.265
221,652,820 327,018.200 1<M,60? n7
EEPOBT DIRECTOR OF MIST.
123
So. 23.— Wo mix*’ * PmoDcmov or Gol d axv Sara.
CALENDAR TEAR OKA.
<**1- SOrm
a S6 ■ ummift sms
REPOST DISEC TOE OF MIST.
1*4
N, 5T. Woiu'i or Got* **» S»TEJt-C«muwd
nLEXr»%S TEAS WOT
MMI MIIIIIUII II
REPORT DIRECTOR OF MIST.
125
No. 23.— World’s Production of Gold and Silver Continued.
CALENDAR YEAR 1«*
Gold.
Sllvar.
Country.
Kilo¬
grams
(flue).
Ounces
(tine), i
Value.
Kilo-
prams
(fine.
Ounces
(fine).
Com¬
mercial
value
North America:
142.281
4 574.340 894.50) 000
1. Ml. 129
187,597
52,440.800
22.106.233
73, CM. 027
1,272,595
17.175.099
*28.050.000
11.824.000
14. HO
476 112
1.06,210
8 055.430 1
3.547.210
v,rvu, iw
2,291. ‘AO
39.402,900
33.0-1
22, 371.200
39,583
190. 700
250,558
00, 520.500
534.218
9.187,000
no.;a3
73,327.300
Europe.
42.209
1,357.027
119.454
2S. 052. 200
4.109
55,009
132.122
1 770,457
70.700
947 000
3.715
' m’.wo
1«! rx
7.035
4,971.544
221.175
2. CAD. 300
97
134
121.000
19,100
2.251 40,500
1,111
30,990
129.881
25 780
35.728
674.848
3».Lono
. .
70
; 175,64
829.025
2.233,(00
44 1 400
Greece .
3
108
2.200
248
24.727
4.307
7.971
794.973
4,300
425. A*)
Fiance
1,257
40.412
^?f’nnn
135,255
72,300
liritfiitt ...
24
772
l'’1
DO
2.893
59.800
68,000
3.105.700
8out h America
243
7.801
161.300
3.954
127. 108
521
10.752
346.300
180.595
5, 806, 117
735, 500
Phi Ip ^
5.157
3,427.300
42,7*1
1.375, 0(»
# ^ i i i n
165. 797
704
22, '42
12,100
527
lt>,946
2 UMi (il)
3,305
106,259
3^254
104ti*
50.000
37
1.184
Guiana —
2,1 ID
08.110
1,408,100
D^toh**
998
32 .0,1
2 31 o Ml)
5 Hi. 900
8,552
774
114.202
24,890
’514! 500
' 297 i 546
• MB iH
13X
4,433
«1 (00
45.437
1.4*0-809
4,542
146,034
2,033.300
Central America .
Aaia.
4.345
139,703
418.312
1 , 540
147,46
2.887 900
118,237
3.801,315
China .
13,011
48
4 585
8, 647 . 36
31,800
3.047.500
Korea .
Slam..^.. ^ .
493
15.947
15.850
512.702
327.000
10.598.500
India ( British) .
East Indtea—
2.10S
3.379
67.770
108. Ml
1.400.900
2.245.800
15.865
510 070
. 272" 800
004.958
21,378.480
441.932,200
0.319,947
203, 180.370
106 484.400
1
n
z
A
5
6
7
8
9
10
11
12
13
14
15
10
17
18
19
20
21
22
23
24
25
20
27
28
29
SO
31
32
33
34
35
30
37
38
39
REPORT DIRECTOR OF MINT.
No. 24.— Production* of Gold and Silver in
[From 1493 to 1885 Is from a table of averages for certain periods, compiled by Dr. Adolph Soetbeer;
Gold.
Period.
Annual average for period.
Total for period-
Fine ounces.
Value.
Fine ounces.
Value.
1493-1520 .
186,470
230. 1W
13 R*v5 IMMI
5,221,100
5.524.656
4.377.544
4,398,120
4,745,340
5,478,3(1)
5,336,900
5.G3V, 110
J107.931.000
114,205.000
90. 492.000
90,917.000
98.095,000
113,248,000
110,324,000
116.571.000
123,084,000
1521 1544.. . .
#o, mo, mw
1545-1500 .
c rJir. rmn
1501-1580 .
2 19,’ 906
237.267
O, 009, IMMf
1581 1000 .
4 905 000
loni 1020 .
5, 602. 000
1621-1040 .
1641-1060 .
A, 516, 000
1001-1080 .
5, 828, (MX)
1* **4 1 1700 .
6# 154, (X)0
5. 954. 180
6,921.895
8.243,260
12,268, 440
15,824.230
13,313,315
11.438.970
5,715,627
3,679,568
4.570.444
6,522,913
17,605,018
32,051,621
32.411.312
1701-1730 .
412,' 163
I1 itl'SS
143,088,000
170.403.000
aW, 611. 000
1721-1740 .
013,422
H, jJ). (XX)
1 ’ 1 .V 1 mm
1741-1760 .
79L211
I*, uni.
1701 1780. .
GGSitiflti
10, 356, 000
17 7#u Ann
327, 116,000
1781-1800 .
57L948
1*1,
275, 21 1 , 000
1S01-1810 .
571563
ii'oJc'!!?!
236,464,000
1811-1820 .
367' 957
1 1 , HI*), OCX*
118,152.000
1821-1830 .
457'(>44
76,063,000
1831-1S40 .
0 448 000
94, 479,(1)0
1841-1850 .
1 760 M2
13 4K4 (XX)
L34. 841,000
1H51-1S55 .
(, ^ |y ^
36, 3u3, 000
1 7*> r,i‘i rwwi
363,928,000
1850-1800 .
6. 486* 262
Mite, ai.f uni
1 XI | kv l 4 k ■ ft
662,566,000
1861 1805 .
S. 949.' 582
1 »*!, IJHJ. QUO
122, ‘JfH. 000
670.415.000
1871-1875 . . .
187(1 1880 .
6.270,086
5.591,014
5.543, 110
129,614,000
1 15,577,000
31 ! 350,' 430
27. 955,068
27.715,550
23,973.773
27,306,411
614,944,000
648.071.000
577. 883. U00
1881 |K85 .
4^ 794," 755
114,586, (XX)
672,931.000
1886 1890 .
1)9 1 16 (MM)
495.582,(11)
1891 1895 .
7 8X2 V5
112, 895,(110
564, 474, Wl)
1896 1000 .
12, 446, 'JCiD
162,947.0(10
39,412,823
814.736.000
1901 .
257,301, 100
*0,992.9 (!)
296.737,600
62, 234, 098
1, 286, 505, 400
1902 . .
1903 . .
m! Si 680
15 852 tiXI
12. (725,527
14,354.6*4)
2U0.992.900
290.737,600
1904 .
327, 702, 700
15.552,620
327, 7U2, 700
1905 . .
15* 396* 451
347,377,200
380, 288, 700
16.804.372
347.377.200
1900 .
19,445*452
18,396, 451
380,288.700
1907 .
401,973.200
410,555,311)
19. 471, 0N0
4tr2.5U3.000
1908. .
. c
19, 8fi0, 630
19,956.283
21.378,481
412, .532, 900
441.932.200
Total .
.
625.798,143
12.936.397.6U0
BKPOK'I D1KKCTOB OF MINT.
127
tii it World Since tiie Dinoovemy of Amkiiica.
for Die year* INhft to 1U07 tlir production la lh<* annual oat I mote of the Hureau of Hu* Mint |
Hllvor. ParaBlAft of production.
Annual average for period.
Fine oancea Coining value
I, A11,0.V)
2,800.030
10,017,040
0, id*, OJA
13.4ft7.ft3A
13, A0ft,23A
12.ftA4.JW)
II. 77o.A4A
I0.H.M.AA0
IO.OOJ.OH.*>
H. 432.A40
I . 4 . KM. OHO
17,140.010
W.OhA.AOl
2H. 201 . 770
•Ja.740.02-J
I7.AKA.7AA
14, H07 004
10.I7A.NO7
'JA.OOO, 342
N,4HN,A07
*•. tri.i I -s
AA, 40 1, 072
43.OAI.AK3
<.i 317 014
7N. 775. U>J
02.003.044
100.011,431
IA7,AN1,33I
IftA. 003,004
173.01 1, JHt
102, 71 k3, 4M
107.PN0.3JJ
1A4, IOA,20<»
172,317, (■HN
HA.3H2.3ri
1 HA, 014, 023
ll 0.1 out
a . to ooo
13, M2, 000
I2.4A0.0U0
17. 4 13.000
17.A70.0UI
|0, 30 1 , 000
IV 0 000
14, OOH, 000
14.212,000
l4.7M.00tl
17,024,000
22, lt.2,000
27, 133,000
34i.A40.000
37, 1 OH, 000
22, 470. non
10 III 000
’4, 703,000
32.440. 000
3ll.H24.000
37.OIH.000
4A.77J.OU)
AA. H.l.iaH
HI , H04.000
101 <>1,000
1 1 M , 000 ,000
140, HI A, 000
203,742.000
214.J20.700
3a.i«i. an»
210.441,000
210. Mil). 300
212.2W2.U00
222,704. 600
2UT.H27.iOO
230, 2 10, HU)
1"~
Tolal for period.
4J, 300, 400
M), AtIH, 320
H0.JN7.O4O
1MJ, A7H, A00
2144, 3A2. 700
271.W24.700
2A3.0H4, MK)
23.VA30.0U)
310.1441,000
210, H4I 700
. JJH. (AO, M)0
277.3ftl.ttt)
34J.HU. 236
4Mi.711.HJO
AftA.23A.AHU
2N7.40U.22A
173.NA7.AM
14H.070 040
101, 7M, 070
2741. 1403. 422
143.443 000
14., 477, 142
177.000, NJ
21A.2A7.14I4
31ft, ANA. OA0
308, N7N.00W
4ui 010 733
M4.AA7.1AA
7H7.WNi.OAO
u 4041,033
173,01 1, JN3
H12.7lQ.4a
14.7 . 1 ho, 322
J< 4, IWA.2WI
172.3l7.ftHN
I HA OA4 4V7
|H4. IH4 (Ml
20J.lNi.370
0A4.7U3.OOO
HW, WHO, 000
207.240 000
24N.0WMNM)
34H.2A4 000
3AI.A7I4 000
327.J2I.II00
304. AJA.BOO
-JM) 1(4., UK)
.-hi M0.QOO
2WA, ICJ* U*>
3AH. 4H0.000
44.1, 232,000
A4J.ftAH.0U)
730, A 10, 000
371,077, 000
/J4.7HH.OOO
1141. 444,000
247.1430 OOO
UJ4.WIO.OOO
IH4, low, out
I hs. 003. ooo
22H, Nftl.UX)
27Ht313.0U»
400, >22,1X0
AOW, 2Aft,(XX)
AIM. 773.000
704,074,000
1.0IN.7OH.UXI
1.071. I4H.WX)
223.nWI.3U)
210. 441.000
21ft, Nio. .too
212,302, WM)
J22, 7144.AOI)
JI3.40J.NIXI
SX H. 1 40. 000
2U.70A.I00
13,214, UAft.lU)
Iiy weight.
liy value.
(told.
Mllver.
Gold.
Hllvrr
11
MU
Oft. 4
33 A
1
7.4
02.11 ,
AA. 0
44.1
2
2.7
1)7.3
30 4
OW. ft
1
2.2
W7 H
2ft. 7 ,
73. 3
4
1.7
ON. 3
22
7M
5
2
im
24 4
74. ft
ft
2.1
07 0
2A.2
74 ft
7
2.1
07.7
37.7 ,
72. 3
H
2.7
07.3
20 . A
«0. A
«
81
Wft.V
33. A
ttV, A
10
2. A
0ft. A
3ft. ft |
73 4
11
4 2
0A H
41.4
AN. ft
12
4.4
0A.ll
4J.A
A7.A
l.l
• S.l
00.0
33.7
Ul )
14
3
ON
34.4
7A.0
1A
1.0
OH. 1
24 1
7A W
111
2.1
07 0
26 3
74.7
17
8
07
33
1)7
IN
3.3
0ft. 7
35.2
14. H
10
ft. H
03 4
AJ.O
47 1
Jl)
IN. 4
H|. ft
73.3
21 7
21
IN. 2
Hi. a
7H. 1
21 1)
22
14 4
as. ft
72 W
27.1
23
12.7
H7 3
70 ,
1 *'
24
Ml
01 w
AN . A |
41. A
2A
ft ft
08. 4
A3
47
2ft
A
Wo
4A A
54. 5
37
4 3
05. 2
44. A
AA A
JH
4.3
DA 2
44 4
AA 0
20
; 7
03
A4 ft
4A 4
30
i UN
03.2
AS H
4ft. J
31
N. 1
Wl.W
AH. A
41 A
32
M. ft
WI.4
00.2
30 N
33
0.3
W). 7
10.1
37 0
.14
0.0
on. 4
l«. 1
3ft. 0
3A
10 A
HW. A
ftA.3
34.7
3ft
0 H
WO 2
- . )
•o ..
37
1 94
00. A
02.7
37.1
IN
A H HI 2
40 A
AO A
30
REPORT DIRECTOR OF 9TIXT.
I \r£\Drtv*t'i at mt I'mtsb Surts Mivr at Philaimllmma for tu
FWal V FAX KSY'FU Jc.\E 90, 1909.
rhriNfx r>xwv *cJrmv.
uri
Dnitsv
I'rt cwvlv . .
KWrtrtr fett m?c4kr*
WMrtrti mil ynW
dntaOMnii 1
LWA n
fio
SU7.M
fi.tttt.ttl I
fiOSLOrtU OT.tt
in
MM SO
mm
r m»
tt»i
im
ttAtt
11 2 AS
s:«
LIS
ItM tt
IMM
moo
r io
100
ii
Sx x>
1UM
m «k
”ttl «T
IN
tl «r
satx
ILK
rrn
Lor a
a»
s jo? a
r a*
UN
in 20
ttB
>3.11
*A»
1*17
14 tt
1 M3. Jv
mi*
iisv r
Ktt 00
I AM 02
urc
4.07V 10
. r*
B m
mis M
o.n
Stt *i
ttt a
I.SJA M
111 tt
l »*
• tt
ib tt
tt> j*
n;i
i*N>
MU
2C tt
iw si
-vr 7*
KL l>
7. or. u
mo a
T.4IVS7
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at tt
1.0114
air
tt 15
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tin
«k rx
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in >a
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m
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vCLtt
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l .£M tt
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no.
477. «
VS
» a>
a 41:
*.17122
am na
tiN.tt
tan
m it
I «C At .
» v ii: l «w «:
Mar*
UI»
I.UKS.'
tv a\ 4LT\»
l.SANl 111 tt
ra 1 ML*.
!i;Sta«;SS Fm"*^**™*
Aid' tt J» t)tt ii 3 rtxi tt
'■ " * •** V ‘ *' -V ’ * •' ••' • iv ’ » ;Nl «s ^ ^
11
1S4 <*' »2S
1 tt A XII *»
rx » ? orc.«i
A iV *> 1«M0
4»t tt 4 *CVta
l*a.s» *•»-.*
_ j 12.00
70ASJ
4VUU 4T1 «*
jwo rx
ai m
XT' tt iUI SI
. II »
2: A' ttV sx
2AS*o l.Jni ii
ttR.73 A m 33
*7 « XTVrt
J . LSI ST 1C U
»«7 T4 MAMA as
41 ASt\ 00
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I IMAT.lJira.Ml 4S34.STA41 1«.«A JTAAORAia 7
•4 3LKiVMl.AC.41
REPORT DIIiEC TOR OF MINT.
12 D
Exi'KNLUri KES AT THK UKITHD STATES MlNT AT SAN FrAK CISCO FOR TIIK FlSOAL
Year ended June 30, 1009.
i
Expenditure* for supplies
General depart¬
ment. ' a waiv¬
er’s (le-
iurl-
Proper. ment
Coiner’s
depart¬
ment.
Melter and refin¬
er’s department.
Proper. Refinery.
206.35
234.25
Adda . $074.88 $1,068.24
Assay materials . . . . 152.30 .
Advertisements . $57.22
Balances and weights . . 90. 00 .
Barrels and lard tierces . . . 1
Binding of records . 47.00 . . . I.
Belting. . ....... $50.46 3.28 24.03
Carpets, furniture, and fixtures. 422. tie
Charcoal and coke - Lfiti
Chemical apparatus .
Chemicals not otherwise specified. 281 44 257.08 57.14
Coal . 187.75 95.30 . .
Copper . 5 .38 11.0014,
Crucibles, covers, stirrers, and dip¬
pers . . . .... . 5,
Dravogo 1 , 125. 76 .
Drygoods . 1. 201k 24 329.13 17.40
Electric light and supplies . 873.02 241.25
Electric power . 3,200.88
Ensigns . . .
Express and freight . 508. 11 .
Furnaces and repairs .
Gas . 2.081 tat
Gloves, gauntlets, mitts, etc . .
Hardware . . 42. oo
Ice . 426.00
Tran and steel .
Laundry . 997.12
Lead: Bar, sheet, and pipe. . . .
Loss on sale of sweeps .
Lumber . —
Machinery and appliances . 474.02
Metal work and (astlngs
Oils:
Fuel .
Lubricating .
Paint .
Repairs (machinery, etc.) ...
Sewing .
$2.10
100.00
36.50
107. 1 i !
234 13
15.00
548.71
260.88
15.00,
$2, 126. 18 $3,859.30
191.65 346.14
57. 22
90.00
250.00
47.00
139.71
422.09
205.11
3.409-70
1,025.72
299.40
3.409.7U
195. 33
1.35<
15.53 14, 581. 31
3,966. 2t.' 9,022.90
77.50 1,203.20
1.60.5* 2, 680.67
000.59 1.9(5.01
5,104.90 8.365.78
046.84
89.25
287.06
. 13-8»i
47.00 385.00 39.33 979.01
528.10 1.712.76 4,499.16 130.98!
i/i ivt •} oa.'j in js.e r m
60.00
8.75
3,262. 40
96.32
465. 75
56.44
715.00
205. 57
2,181.48
0.51
101.33 182.22 143.83,
73. 19 62. 50
10K. 54 20. 75
317.30
2. 587.03
289. 79 . 227. 83
6.83 1,503.74 1,446.18
— 54 83.78 219.91
4,608.00
714.02
582.00
1,451.24
9,598.44
4.592.48
696. 14
426. 00
2,615.37
997. 12
(53.31
2.956.75
876.52
Sundries .
Telegraphing .
Telephone .
Tools . .
Traveling oxpeuses -
Water: Sprinkling, heating,
irrigating .
Zinc . .
Wastage of operative oflleers. .
Total .
Salaries .
Wages of workmen . . .
26.00
77 .84
15.76,
0.73
854.(0
243.56
490. 62
.
1,844.57
1.05
829.51
1,715.07
64. H I
1,053.06.
168.62
504.21
216. 00 _
538. (if.
110.38
7.60
‘225. 10 .
825.01
OO. If miv.vi 0(11.0.
128.75 12,181.42 17,461.44
394 44 157.87 1.583.63
3,091.64
952.58
180.55
3,033.70
3,204.88
244. 61
6,391.86
(5, 29
21 C.00
(58.39
794.96
1,120.79
.40
1.76
5(0.86
120.00,
825.01
120.00
4.894.31 6. 848. 85 3,325 08 15.0(8.24
11,383 1413.000.67 2.449.5S 19.(09.54 37,353.35 41.732.76 120,309.04
.25,242.53 . 5,000.00 5.000.00 4,988.89 . 40,231.42
46,42* 02 30. 178. G1 20, <*3.93 130,213 32 44,920 18 36,351.25 314,775.91
83.054. 29 49,800 28 28. US. 61 154. 912. 80 87, M3. 42 78,084 01481,316.37
19711 — 10 — 9
130
REPORT DIRECTOR OF MINT.
Expenditures at the United States Mint at New Orleans for the Fiscal
Year ended June 30, 1909.
General depart¬
ment.
Expenditures for supplies.
Issav-
r s de-
I “roper.
part-
Meehan- menL
leal.
Coiner's
depart¬
ment.
Melter and refiner's !
department.
- 1
Proper. Refinery.
4.22 .
Acids . I . J
Advertisements . $iti. 80
Barrels and lard tierces .
Belting . $106.8
Binding of records . 7. 2S
Charcoal and coke . . . 1 'ftw'ni .
ChHnlo»knot0U.enrl»8p«-ia«J . .' "'&'■» 165.36 t£m . i«
cSU:;::::::::::::::;:::::;:: . Jt*2-70 . ^ ^ . ws-a
Crucibles, covers, stirrers, and dip-
. 0G $312.25 $1,237.30
. 16.80
$1.30 55.75 . 57.05
. 113.02
7.25
500.06
50. G2 040. 38 . 1,000. 00
Drayage
Dry goods..
Fire brick . ]
Furnaces and repairs ....
Gas .
Gloves, gauntlets, mitts, etc. . !
Hardware .
ice . ;;;;; .
Don and steel . .
Labor (temporary) .
Laundry .
Loss on sale of svreep.s ......
Lumber .
Machinery and appliances
Metal work and castings
Naphtha . *
Oib:
Coal .
Fuel . .
Lubricating .
Repairs (machinery, etc. )". . . . .1 . .
Seeing .
Stationery .
Sundries.’ .
Telegraphing .
Telephone5....
Toot . ; .
Wastage of operative officers. ! ’
W ater: Sprinkling, heating, and Ir¬
rigating . .
'V ood _
Zinc . .
16.00 .
22. 84 .
14.50
348. 53 11. 40 . . . .
570.04 .
28.00
240.00 . .
19.40 ... . . .
75.30 .
13.52
38.00 25.61 .
. . 1
,366.22 _
100. 90
75.00 296-00 .
;;;;;
». u
286.35 .
' 45. 2b .
io. 35 :
73. 85 .
100. 18
7 00
73.11
18.54
1.05.
ii.40
204.43
30.30 .
989.
70.37
448 65 .
48.85 ..
120.00
325.27
48.80
240 00
*89.40 ...
21.12'.;..
4.75 .
112.11
. 72.43 .
38.32 . . j
176.90 ’ .
.43.54, J4U1 ^
“sj* liSvW . 102.65 06.84 13.50
moo;;";;;;;!; . . , .
. 75.31.. ;;;;;; . , . . j
. j . 4«2.io;;:;;;;;:r* . i
Total.
Salaries.
3.704.90 3.891.92
90.00
935.58
23.25
397.27
598.04
240.00
19.40
152.43
52.45
470.09
1,368.22
244.00
91. 14
2S6.35
85.25
406.61
166.20
1,007.94
19.35
795.04
172.15
457.37
72.43
43.07
112.11
178.90
78.61
43.54
883.20
5.52
144.00
75. SI
492.10
36.48
264.57
90.00
u:om.«;.-;~ “ ,.SS 2-SSiS f2M! «**• “•*»»!
Wages of workmen.. . I^tSS 5 4i. 50 2 *• #» «> ...' ’ . .
- ’ MH.71 32,512.38 6.142.50 1.226.00 61.270.7h
31,55*^00 9.382.42 7.016.36 39, 466. 9f> 15, 947. 34
1,655.26 105.054.14
REPORT DIRECTOR OF MINT.
131
SZMNDITURKa AT TIIK l NITBD STATEN Ml NT AT DENVER KOK THE FlfiCAL YEAR
ended June 30, J909
Expenditures for supplies.
General depart¬
ment.
Proper
«a 36 I
25 W
22.00
33-00 1
tf.2JU.33
Adds .
Adjusting weights and repairing
balances .
Advertisements .
Binding of records . .
Carpels, furniture, and fixtures.
Charcoal and coke .
Chemical apparatus . .
Chemicals not otherwise specified... .
Coal . . . ..
Copper .
Crucibles, covers, stirrers, and dip¬
pers .
Drayage .
Dry goods .
Electric light and supplies .
Electric power . . 73. „
Express and freight . . 140. Otf
Fire bric k .
Fluxes .
Furnaces and repairs .
Gas . .
O loves, gauntlets, mitts, etc
Hardware . .
Ice .
Iron and stool .
Laundry . : .
Lead: liar, sheet, and pipe.
Loss on sale of sweeps .
Lumber . .
Machinery and appliances .
Metal work and eastings . 12.59
Oils;
Coal . (i 4 s
Fuel .
Lubricating . .
Paint.
*22.50
21.29
er s ue- drpart.
ment.
de¬
part¬
ment.
*513. 85 *40. 3
20. 0>.
102.00
63 44
1(120
ltftf. 25
1V2. 00 .
*33. 4tf S2. tftf
1,441.41
4tf. 21
9.K4 .
25 00
15.00 161 2d
. 1,0*3.97
lUx 33 .
129 7t.
413.61
712. 04
430. K9
2,529.00
937 IX
ltd. 00
1.32S. 9(1
24. 03
HiO. 15
•V>. 01
Stationery . .
Sundries . .
Telegraphing .
Telephone . . .
Tools .
Zinc . .
Wastage of operative officers .
Total . 13.019.35 9, 000.30
Salaries . 21,500.00 ...
Wages of workmen . . . . , . 21,712.20 34,590.52
91.97
01.00
1,007 55
147. 63
366.55
37.05
Melter and reOneris
department.
Proper. Refinery,
*04. 68 *4,790.01
107 30
.80
lOtl 46
63.24
»«. 26
440.29
5,oas.74 .
391.25 1,065.75
75- i* 492. ih
196. 6i" !.’!!!!*!!
90.30
"64.41
21.75
626.33
311.36 1
14.63
692 25
15. 34
229.18
7X2.90
152. is
385.50
7.05
606. US
27. 97
47. 10
40 54
386.75
40.35
4tt CM
3.56
4.00
Total . 50,231.55 44.250.82 20,230.45
11.815..
20.. J0
254.33 2, 266. 93
I U.00 95.40
17.36 4.25
1,076. 16
403. 20
M9. 30 152. 15 727. 79
120.11 ,
12. 66 I
80 . US
•2.55
3.00
1,074.01
*5,420.92
6.25
25.05
22.00
209.76
211.63
77.26
783.57
9,332.33 /
5, 969l 18
3,066.84
192.90
2,008.92
1,441 41
492 10
514.64
312.98
1,503 20
527. 01
1,082. 18
1, 946. 89
1, 116. 30
166.33
129.7b
413 81
755.32
1.361.83
458.86
3.002 01
1. 052 00
6. 48
3.619 42
1,524.26
104. 67
161.06
3,066.55
24.08
400.38
206.41
1.07s. 01 •
1. W4.35 . 1,534.35
4,260.50 13,079.57 13,49tl85 55,53208
5,000 00 6,000.00 . 37,899.44
66. 986. 21 11.824.6J 29, 4X0. 90 176, 415. 96
78,246.71 29,004.20 42,977.75 269,847.43
132
BEPOliT DIRECTOR OF MINT.
Expenditures at the United States Assay OrricE at New Yoke for the Fis¬
cal Year ended June 30, 1909.
General deportment
Expenditures for supplies.
.
Adjusting weights and repairing baL
Advertisements .
Balances and weights .
Binding of records. . . .
Carpets, furniture, and fixtures _ .
Charcoal and coke .
Chemical apparatus. . . .
Chemicals, not otherwise specified .
CoaL . . . .
Copper. .
Crucibles, covers, stirreia, and dippers
»raW- .
Dry goods. .......
156.00
11AH)
Assayer**
depart-
Melter and refiner's
department.
Proper. Refinery.
*1.80
T6l 00
avoo
254.05
•1 •
A 90
lino
138.4V
97.96*
' «. 33
.
77 35
48.75
330.94
1*4.00
1.738. 40
22.40
437.27
8S1.47
Express and freight .
Fire brick _
Fluxes.
Gloves, gauntlets, milts, etc _
Hardware. .
Ice .
Lab ir (temporary >. .
Laundry . .
Lend: bar. sheet, and pipe. .
Lass on sale of sweeps
Lumber . .
Machinery and appliances..
M»tal work and castings .
Oils: Lubricating .
Repairs (machinery, etc.) .
Sewing -
Stationery
Steam, supply of.
Sundries .
Telegraphing .
Telephone . .
Tools.... .
Traveling expenses’!
Wastage of operative officers .
Water. Sprinkling, heating and Irri¬
gating..
ToUL... . .
S*1*^**-- *24. 443.63
Wages of workmen.
Total .
80 70
1 020 42
172.04
28.90
119.57
‘2S.00 ...
22 13
35.75 .
525.56
295. 15
3.506.96
23,50
103.02
135.47
33 12
217.06
y* 10
5.00
705.63
29 59
591 64
41 13 .
4A77
93.75
(5.00
94.95 :
96.99
128 58
175. 11
28. Ui
140 00
180.98
427 04
1 801 53
93.22
iaio .
to. 21
1.37
193.54
. . .
26.00
43.15
2.56 .
53.80
22.76
.
2.281.22
IGLOO
20.50
* . . MJ,
!• — .1.2
293.08
10,144.44 J3.0UU94
” OttS.OO . .
45.340.82 6.049.43 22.535.52 3.006.94
•195.27
232.00
116.80
149 05
28.00
254.05
293.50
142.38
109 90
15.955.(1
45.410.16
24.00
3.747.73
99.75
48&02
3,225.79
38.85
17 17
141. 76
645 13
403.85
4.527.38
45.63
310.81
104.37
307 82
217.06
705.63
29 50
676.54
158.75
96 99
398.64
2C5- 08
1VP 9S
2,228.57
163 53
1.37
193.54
82.36
65 91
2.281.22
183.50
23.S88- 12
37.595.01
77.414 33
61.365.77 138.907. 48
REPORT DIREC TOR OF MINT.
133
Carson.
Boise
380.50
15.00
9.35
$110.00
1.00
8.10
378.28
31 14
Expenditures at the United States Mint at Carson and the Assay Oepices
at Boise, St. Louis, Helena. Charlotte, Deadwood, Seattle, and Salt Lake
City for the Fiscal Year 1909.
Expenditures lor
supplies.
Adds _ _ ■■
Adjusting weights and
repairing balances. .
Advertisements .
Balances aud weights
Binding of records
Bullion boxes .
Carpets, furniture,
and fixtures
Charcoal and coke ....
Chemical apparatus.
Chemicals not other¬
wise specified .
Coal..
Crucibles, covers, stir¬
rers. and dippers...
Droyage
Dry goods .
Electric light and sup¬
plies .
Electric power.
Electrical vault pro¬
tection and burglar
alarm .
Ensigns .
Express and freight .
Firebrick .
Fluxes .
Furnaces and repairs.
Gas .
Gloves, gauntlets,
mitts, etc.
Hardware .
Ice . .. ...
Iron and steal
l>at)or i temporary). .
Laundry .
Load. liar. sheet , and
pipe.
Lumber .
Machinery and appli¬
ances .
Metal work and cast¬
ings .
Oils
Coal..
FkMt . .
Lubricating
Paint .
Repairs (machinery,
etc.) .
Stationery .
Sundries ...
Telegraphing . .
Telephone
Tools.
Traveling expenses .
Water Sprinkling,
heating, and irriga¬
ting .
Wood .
Rent of buildings
Total.
Salaries. .
Wages of workmen
2.500.00 1,800. 24 3,283 81
6,000.00 3 400.00 5,4oOOO
4.488.00 8,110 0013, 703 75
)W> 072 749 W 2,374 99 9.3SOOO 1.055 55 33,4#.. 20
VlV 00 1 !u*0. on 7(>3 W 29, 175. 88 3.W17- 11, 05,108.68
ui,«6& 0011,310 24 22,436. m|t, 715 40^, 494. »j3. 706.05 44.060. 2^16,088. 54 |l*, ISA *7
134
BEPOBT DIBECTOB OF MLNT.
No. 26.— Authority foe Co more, Changes in Weight and Fineness Asr>
Amount Colved, for each Coin.
Act authorizing
coinage or
change in weight
or fineness.
cold coot*.
Double eagle (CO). .
. Vpnl2. 17*2 .
June >, ISM .
January is, ist7.
April 2, 17*2.
June 28. 1<M..
Quarter eagle <S2 50) . Aprilf? ITw!*0*
June 2 x, IS34
Hal/e
f («)-
January 1*. lsj?.!.'
TW<loliar piece . vSZL&Saa
One dollar. .. Slin h V ixju
One dollar, I.omriana P^l ' ^
ch^e Exposition . June 2\ 1902
Dollar, Lewis and C lark
Exposition . April 13, 1*04. . .
Total gold .
WLVK* codm.
Dol‘*r . April 2, 1TBC2. .
aCSA'St; 4,s* “ “*'"-****:::
Margate I . .
January 18. 1SJ7... ^
rebroaiyn, 1AQ.. 1*3*
iSF" T*
January is, istr... pm
February 21 , UBS. . *o
lssrn,r,nT- zx!&gk ~
April 2, 17*2 .
January IS, 1S37 . .
February 21, 1SS3
February 12. 1S73
April 2. 1792. .
January is. 1KJ7
52S7Sffl IS,’2 i-
Man h A :r* .
<578. 303,848.00
jjj February' 19^ LSS7.'!
8*34 ,
Half dime .
Thmscmt piece
000
S524
9U0
9uo CII
•am \j
/TT.lti
■*1.6 .8*24
5*4 9”
*38.58 ....
20.8 , .8024
»i 900
MayVisra/.;:; .
35,965,924 00
50,000. 0)
180. £46,570.50
10.000.00
271,000.00
4,880,219.40
Total silver.
MIX<jk coixs.
Man h .t. |\53 »- ® 900 Februar^ U. UBOL .
Five cent (nickel) .
Three cent (nickel,...
Two cent (bronze)
Cent (copper j..
Ma.vl6.UBA .
Min h 3. |.yk’)
77 16
W 1 .
April », 1864...
April 2, 1792...
January 14, 17*3
30
96
264
a*
Cent (nickel)..
Cent (bronze).
Half cent (copper)
January 2B, 1796 >
February 21. 185?
• April 22,’ IS64..
Apnl 2. 179C .
January 14, 17*3
16k
72
48
132
104
84
ft
February 2i. IS57...
April 22, 1864 .
T otal minor
.
February 21, 1857...
Total coinage. .
=±=
31.272,282.45
941,349. 4S
912,030.00
2,007.72a CO
17. 109,270.00
*‘cKSEiiStEssz ,2'
. SB*- SIS "n“' . Wnl "»>lulkm Julj a, l*rs
■Total amount ooin£i.
, sUE5!!m* °r~' 45 r»ins
15 grams, or 77.16 grain*
( rams, or 3* 58 grains.
3 95 SO?, *“d 25 P*r cent nl« ke]
> By proclamation of the President0 *? 4 P*3-/*®1 tin and aim
u“p,,~, w w 5wJSW,,?SfSiyS5.“ 01 “*"h 3'
i ;u>
REPORT DIRECTOR OF MINT.
No. 27. — Coinage ok ttik Mints of the United States
[Coinage of tlic mint at Charlotte, N. C., from Its organisation, 1838, to Its suspension, 1861 ]
Calendar year.
Gold.
Total value.
Half eagles.
Quarter eagles.
Dollars.
1838 to 1861 . . $4,405,135
$514,915
$109,138
$5,050, 188
[Coinage of the mint at Carson City from its
Odd. B“w.
Calendar year.
Double eagles.
-) - 1-
Eagles.
Half eagles.
Dollars
Trade dollars j
1870 to 1893 .
$17,283,560
$2,997,780
$3,548.0*5
$13,881,329
$4,211,400
[Coinage of the mint at New Orleans from its organization, 1838, to
Calendar year.
1838 to 1900. .
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
190G .
1907 .
1908 .
Double
eagles.
$10,375,500
Eagles
Gold.
Half Three
eagles. dollars.
$19,804,320 $4,447,625
720, «0
1.127,710
1,089,500
Quarter
eagles
$32723,157.50 $1,004,000 $144,395,529
. 12,500.000
. 13,320,000
. 1 . 8,636,000
. 4,450, OUO
. 3,720,000
808,950
Total.
10,375,500
23,610,890 4,447,025
72,000
3,023.157 50 1,004,000 187.111,529
[Coinage of the mint at San Francisco from
Gold.
Calendar — -
year- Double
, eagles.
Eagles.
Halt
eagles.
Three Qtuulcr
dollars, eagles.
Dollars.
Silver.
Trade
dollars.
1864 to 1900 $929,075,020 $74,122.000 $78,244,540 $186. 300 $1 ,861 ,255 $90. 232 $98.024,073 $26,647,000
1900.
1901.
1902. .
1903.
1904..
1905. .
1906..
1907..
1908
49,190, OIK) 810,000 1,645,000.. .. , . 3,640,000
31,920,000 28,127,500 18,240,000 . 1 . 2,284,1X10 .
35,072,500 4,695,000 4,995.000 . 1,530,000
19,080.000 5,380,000 9.275.01X) . 1.241.0IK1
102,683,500 . 485, (KlO . 2,304^00 .
36.-260.1KK1 3,092,500 4,403,500
41.315.000 4,570.000 2,990,000
43,316.000 2,105.000 .
440,000 598,500 410,000
1,288,352,020 124,100,560 120,388,040 186.300 1,861,255 90.232 109.523,073 26,647,000
Half
dollars.
$30,575,031 V)
1,280,161.001
423,522 00
730,335 00
900,386.00
276.519 00
1,247,000 00
S70.077.iX)
625,000 IK)
822,41400
27 ,810,445.50
Minor coinage
Calendar year
1908..
KKPOKT DIRRCTOK OF MINI.
139
WHOM THEIR OrXjA MIZATIO Jf , BT CALENDAR YeaM— Continued
He organization, 1703, to i*onDl«r 91, 1006 ]
Hilvftrncrintfe.
Trad*
dollar*
Hai/dollari
45, 107,424 1236, 5M, 010 1
. #6.W,912
. 0,062,613
7,994,777
4,6*2.75*
2, 7*6,60)
Twenty *
«w»U. u,n
Hal/dtmaa. ThxMioenu
W.7M.7M .80 MS, 407, 230. 00 111,342 124,714,970 60 13,046,701 0011,:
2,361,446.00 2,404,36.00 1,760,001.20
2,U4,4f». V»
2,461,3ms. fi<»
1.L30.J77 »
1 , 406,334 00
33l.2M.fiO
1 ,210,337. fit)
1,260,267 »i
077,272.50
2,22>,m 24
3. 040,43#. 00
3,417,410.00 .
2,207,911.24
1,242,062.00
914,106.76
1,706,143.74
l,wn,;047.*i _
2,136,077.70
1,940,074.40
1,4141, 102 70
1,446,234 00
1,034,640.00
2. 222,067 50
1,066,136.26 1,060,044.10
6,107,424 2b7, 07, 917 107,004,466 00 61,001,273.75 11,342 40,042,062.30 3, 046, 791. 90 1,200,487.20
UiDt/r rni nag*
Total OOln»*a.
•13,347,4** 39
006,337 64
700.111.43
873.767 22
630,94403
613,260. 14
807.191. 43
00*1,222 64
1,061,3V. 16
223,270. 67
Flail (#nti
439,936. 11
30,321,030.00
•041,270.011 fiO 1406,663,432. 4f»
47,027,042. 40 14, 406, 087.20
1,310, 400,411 00 460.905,2*415 62,006,113.
* Inr lud«a 40,000 Tateyette aourmatr dollar*
February, 1906, to Dewnlwr 31. 1907 ]
41,362,617,012. 23
•4,164,707.09
.16,041, 670. 13
20,613,007.67
21,332,20.68
136 070,246.30
10,009,047.43
13,354,200.64
63,269, 104.93
102,073, 184. 47
1, 64#J,273,90*. 78
Silver coinage
*«-■
.
»•"***" 33K' T<Z£T
Ltttnm. Hal/ dime*. ThrMMOU.
92,014.000 4620,000 .
1,426, 000 fi21,OW
9406,000
408,000
1, MM, 000 1,447,000
749,000
5,862,000 2.896,000
1,563,000 .
140
REPORT DIRECTOR OF MINT.
No. 27. — Coinage of the Mints of the United States
RECAPITULATION.
Gold coinage.
Calendar year.
Eagles.
Three
dollars.
Quarter
eagles.
Dollars.
$165.00
4,390.00
1,535.00
1,200.00
[ .
C, 530. 00
1,057.50
8.317.50
4. 452. 50
4,040.00 '
17,030.00
6, 775. 00 |
.
1823. .
1824. .
1825. .
1826 .
1827..
. S2B.22S.220
. 48.043. 100
,’orj . 44.8UJ.S20
. 18.052,340
}*S . 25,040.830
ffg . • 30,437.560
{S' . 28.7B7.500
{S? . 22,187,200
{2™ . 30.820,500
. 18,722,000
Carried forward.... 560,502, 480_ 54,819.680
5491,214
171,44V.
181.530
104.673
0,399
441.814
42. 465
18.216
17,355
15,117
8.040
3, 49-)
12.080
7.950
14.625
7,575
1,149,123
10, 120. 00
41, 500. 00
11.085.00
1.900.00
7,000.00
8. 507.’ 50
11,350 00
11,300. 00
11,000 00
10, 400 (N)
293. 425. 00
328.595.00
1,3144.9V. 00
1L2.700 00
137. 345. 00
191.022.50
153.572.50
54. 4)02 50
85. 007. 541
1.327.132.50
80,345.00
276.277 .54)
279 272 .->0
482, 000. 04)
98.612.50
111.147.50
885.547.50
3.867.337.50
3.233.827.50
3,519.615.00
1.896.397.50
600, 700 00
L 213. 117.50
790,235 00
1 44, 082. .50
142,220.00
164. 34<a 00
3,241.295 00
300. 882. 50
27,075.00
I 7.185.00
•12. 302. 50
105,175.00
78. 125. 00
94. 0,2. 50
84.612.50
$934!. 789
511,301 i
3. 658, 820
2.201,145
4.384,149
1,657,016
824,883
1,788,9941
SOU 002
131,472
193,431
51.234
527,499
1,326,865
6. 250
5,950
3,725
7, ISO
5.250
10,525
5,925
REPORT DIRECTOR OF MINT.
141
from their Organization, by Calendar Years— Continued.
RECAPITULATION.
Silver coinage.
Trade
dollars.
$204,781
72,820
7,770
327,536
423,515
220,920
54,454
41,650
00,004
19,570
321
300
61,005
173,000
184,018
165, 100
20,000
24.500
109, 1)00
140,750
15,000
02,000
47.500
1,300
1,100
40,110
33.140
20,000
03,500
94,000
Quarter
dollars
$101,572.00
'i,' 959 66'
$1,473.50
63.00
15.144.50
14,945.00
15.857.50
78. 259. 50
105,801.00
419,788.00
525.788.00
684.300.00
702, 905 00
038, 138. 00
601,822 00
814,029 50
630.951.50
519.537.50
636,500
733,930
78,500
12,090
27,060
31.170
47,000
49,625
60,325
182.700
424,300
1,684.50
30.345.50
51,531.00
55, 160. 75
23, 575 00
980.161.00
1,104.000 00
375,561 00
O52. N08 50
779.786.50
847. 100. (Ml
1,752,477 00
1, 171,583. 00
2,002,090 00
2, 746, 700. 00
1,537,600.00
1,856,078 00
2,382,400 00
2,910,830.00 i
2,398,500.00
2.603.000 00
3. 200, 002. 00
2,676,003.00
3,273,100.00
1,814,910.00
1,773, 000.00
1,748, 768.00
1,145,054.00
355,500.00
1.4H4.SS2.00
3,050,000.00
1,885,500 00
1.341.500.00
2.257,000.00
1,870.000.00
1,880,000.00
(V)
1.341,500.00
301.375.00
110,565.00
2,430.354.00
4.111,000. 00
2,288,725.00
1,903,50900
1,482,000.00
5,99s. 000. 00
2,074,000.00
1,032,850. 00
2. 078,950 00
802,175.00
709,830.00
518,785.00
593, 450. 00
809.812.50
810, 162 50
769, 100 00
725, 950. 00
17,308.00
5,000.75
90,293.50
36,000.00
31,861.00
54,212 75
16,020 00
4, 4.V1 00
42.000. 00
l.ooaoo
25, .500. 00
99,500.00
80,000.00
39,000.00
71,500.00
488,000.00
1 is, 000. 00
63,100.00
208,000. 00
122.780.50
153,331.75
143.00a 00
214,250.00
403. 400. 00
290. 300 00
230,500 00
127.500.00
275. 500. 00
36.500.00
85,000. 00
150.700.00
62,000.00
68,265 00
4,146,555.00
3, 460, 000. 00
857, 350. 00
2.129,500.00
2.726,500.00
2,002.250.00
421,000 00
312, 35a 00
1,237,650.00
249.887.50
48,015.00
28,517.50
25,075.00
11.381.25
17.156.25
31,500.00
23,150.00
5,053,440 95, 509, 284. 50 21,727,878.00
Twenty
cents.
$2,213.50
2,526.10
2,755.00
2,176.00
3, 464. 00
1,097.50
3,304.00
826.50
12,078.00
16,500.00
4,471.00
635.50
0,518.00
42,150.00
94,258. 70
118,6*1.20
10,000 00
44,000.00
51,000.00
121,500 00
12,500.00
. 77,000. (JO
51,000.00
77,135.00
52,25a 00
48,500.00
63,500.00
Mi.ooaoo
ii9,ooaoo
104,200.00
239.493. 40
229,638. 70
253,358.00
363,000.00
390,750.00
152,000 00
7,250.00
198,500.00
3, 130. 00
24,500.00
45,150.00
113,900.00
244,150.00
142,650. 00
190,550.00
1,327,301.00
624,000.00
207,500.00
703,000.00
712,000.00
189,000. 00
97,000.00
78,700.00
209, 650. 00
102,830,00
17,196.00
20,907.00
18,550.00
14,372.50
14,662 50
72,625.00
70, COO. 00
1,200.00
1.695.50
660.50
1.892.50
780.00
61,500.00
02,000.00
62,135.00
48,250.00
68,500.00
74,000.00
138,000.00
95,000.00
113,800 00
112,750. 00
108,285. 00
113,9.- 1 25
98,250.00
58.250.00
58,250.00
32,500.00
78,200.00
1,350 00
63. 700. 00
63,400.00
72,450.00
82,250 00
82,050.00
63,025.00
785,251.00
365,000.00
117.500.00
299,000.00
433.000.00
258.000.00
46,000.00
92,950 00
IM»«M BO
74,627.50
5,923.00
4,523.50
6,675.00
6.536.25
6.431.25
18.295.00
21.930.00
8,376,184.10 4,529, 818.90 1,281,762 90
Three
cents.
$4,320.60
511.50
2,220.35
$185,022. 00
559,905.00
342,000.00
20.130.00
4, 170. 00
43,740 00
31,2fO 00
48,120.00
10,95a CO
8,610.00
14,940.00
10.906. 50
643.80
14.10
255.00
681.75
138.75
123.00
153.00
142
REPORT DIRECTOR OF MINT.
No. 27. — Coinage of the Mints of the United States
RECAPITULATION— Continued.
Gold coinage.
1884..
1885.
188a..
1800..
1891..
1892..
Calendar year.
Brought forward . 1500,502,480 $54,819,680
. . 22.819,480 164, 430
. 20,456.740 254. 650
. . 21,230,000 244.500
. . 65,450,700 173,080
. 33.917,700 799,270
. 32.737.820 78,350
. 46, 380, 920 104,280
. 43.504,700 211,490
. 45.910.500 1,031.440
. 28,889,214) 6,120.320
. 17.749.120 21,715.160
■ . 14.585,200 48.796.250
. 23,295,400 24,740,640
14,980.040 2,595,400
19,944,200 2,110.800
I3,875,5«4) 4.815,270
22.120 10,621,(4)0
5,662,420 8,700.800
11.717.320 8,030,310
L6.9U5.12U 4.298,850
19.399.080 755.430
15,891,340 1 ,95ti, 000
19. 238, 7(4) 9 817.400
17.178.320 20,132,450
18.350.800 26.032,780
15, 163, 120 7,148 2.4)
13.931.7(4) 2,000.980
.7,070.220 12, 774, 090
14. 912.900 12.867.970
*3,593.1.80 21,403,520
16,881,680 3.749.(4)0
14. 150,520 40,086,160
15,097,580 5.520.130
14.828,5(4) 7.760,970
17.819.410 2,709,880
17,440.220 5,700.280
15.113.800 lo.aai.92u
►6,656,620 26.838.790
», 263, 200 14.813.360
Quarter
eagles.
$07,470,880
1 43 . 550
245,000
275,350
754,(4)5
203.530
105.240
61,820
182,660
1,427,470
3,727,155
B Ml,:./.
33, 4.58. 430
17 Ml. M',
1,647.990
1.922.250
9.01,5,000
18.282.1(4)
9.. Vo. 435
1,560.980
37.825
290.(40
1 ,347, Ulj
5,724,700
9.610.985
5.152.275
7. 289. (A0
1,072,315
6.109.415
10, 154,475
16.278,(45
8, 673. (.50
21.320,200
5.557.810
10.410.120
2,445,(44)
5.915,040
6,334.100
7.570.960
C, 149. 430
$1,149,123
10.605
3,990
6,090
75
125,460
60
135
4,464
246,972
9.000
3,108
1,650
4,620
2,820
3,318
2,730
3,426
18.480
15,873
7,287
$2o, 065, 402.50
51.387.50
68,375.00
52,575.00
512.562.50
9,8.50.00
30,050.00
23,052.50
92, 630. 00
I 1, 160,650.00
331.225.00
7,490.00
1,700.00
10, 100. 00
4,900.00
4.982.50
2.217.50
10,220.00
15,705.00
40,245.00
44.120.00
22,082.50 .
27,600. 00 .
6.362.50 .
75,265.00 .
10.305.00 .
15.247.50 .
48.005.00 .
74.760.00 .
CO, 412. 50
68.375.00 .
168,012.50
228.307.50 .
334.332.50
508.142.50
402.400.00
544,860.00
441,225.00 .
841.120.00
1.412.642.50 .
$19,040,007
9,335
3.930
3,530
125.125
198,820
420
3.245
3,920
3.020
3,030
1,636
7,660
5.040
10,840
6,206
12,205
6,016
8,543
16,080
30,729
<75,OSO
*175.178
*>25,028
435,041
Total . 2,193,027,000 445,354,140 328,203.195 1,619,370(33.823.897.50
“ Includes $475,000 In Columbian coins.
*> Includes $2,020,062.50 in Columbian coins
< Includes $10,005.75 in Columbian coin*
REPORT DIRECTOR OF MINT.
145
from their Organization, by Calendar Ye a R8— Continued.
RECAPITULATION— ConUnued.
Minor coinage.
Total coinage.
Total value.
Onts.
Half cents.
- Gold.
Sliver.
Minor
$10,600. 33
$712.67
$71,485.00
$370,683. 80
$11,373.0)
$453,541.80
9.747.00
677.40
77,9(0.00
77.118.50
10.324.40
165, 402. 90
8,975. 10
535.24
128.190.00
14,550. 45
9,510.34
152.250.79
9,797. 00
205,010.00
3.10,291.00
9,797.00
646.(08.00
9.045.85
60.83
213, 2S5. (X)
423,515.00
9. 106. 08
045,906. (8
28,221.75
1,057.05
317,7(0.00
224,290. («
29, 279. 40
571,345.40
13,628.37
422.570.00
74.758.00
13, 628 37
510.950. 37
84.351.00
. 71.' 83
423.310.00
58.343.00
34.422.83
610.075. 83
24.713.53
480.50
258,377.50
87,118 00
25.203 03
370. Mtt. 53
7.508.38
5.276.56
268,642.50
100. 340. 50
12.844.94
371.827.94
9.411.16
4,072.32
170. 3' -7. 50
149,388.50
13, 4X3. 48
3 <.4,239 48
3.460.00
1,780.00
324.505 00
471.319.00
5,200.00
801.064 00
7,272. 21
2,380.00
437.495 00
507,448.75
9,6.52.21
1,044.595.90
11. (WO. 00
2,000.00
284. W>5. 00
684.300.00
13 090.00
982,055.00
2.228.07
6.772.80
109,375.00
707,370.00
8,001.53
884,752 53
14,585.00
1,075. ai
501.435 00
638,773.50
15, WO. 00
1,155.8(^.50
2,180 25
315. 70
497,905.00
008 340.00
2,495.95
1,108,740.95
10, 755. 00
290. 435. tt)
814.029 50
10,755 00
1.115, 219 50
4.180.00
477,140.00
620 951.50
4,180.00
1.102.271.50
3,578.30
77,270 00
5(>1 , (>S7. 50
3,578.30
642, 535. 80
3. 175. 00
17. moo
20,483.00
28. 209.82
28.575.75
28.209 82
56.785.57
39,484.00
1 .
007.783.50
39.484.00
647.2k7.50
31.070.00
242.940.00
1,0(70,454.50
31.670.00
1.345.004.50
20.710. (K)
258.615.00
1,140,000.00
26.710 00
1,425,325.00
44.075.50
1,319,030.00
501,680.70
44 075.50
1.864. 78b. 20
3.890.00
189,325.00
825,702.45
3,800 00
1,018,977.45
20,723.39
88.980. 00
805,800.50
20,723.39
915. 50). 89
72,425.00
805,350. a»
967.976.00
12,630.00
14, ('ll. 00
15,174.25
23.577.32
22. 000. 24
14,145.00
17.115.00
33,502.10
23. (,20.00
27.390.00
18.551 00
38,784.00
21,110.00
65,585.00
03.702. 00
31.280. 01
24. (.27. 00
15.973.07
23, 833. 90
24,283.20
23.987.52
38.94S.01
41.208 00
01,830.00
64. 157 99
41.785-00
44.2(8.44
08.897.07
50, (30. 1*4
06,411.31
42 301. 56
16.748.29
20.904 (3
177.834. 50
246.000.00
3M.00U.00
205.u0.00
101.000.00
280. 750.00
4(0) •«>
529.737. 11
354.292 80
98.24^.00
08.210.00
102. 665 00
64.200.00
315.00
1.170.00
3.030 00
2,435.00
11.00
""776.60
000.00
705.00
1,990.00
199.32
199 00
738.36
(48. 47 :
270. 79 I
282. 50
202. 15
175.90
150.385.00
92, 245. 00
131 , 5(5 00
140,115.00
295,717.50
(43,105.00
714.270.00
798,435.00
978.550 00
3,954.270.00
2, 186, 175. 00
4,135,700 00
1,148,305.00
1,809,7(5.00
1.370.847.50
1.675.482.50
1.091.857.50
1,829,407. 59
8. 108.797.50
6.427,670.00
3,766,44? 50
4.034, 177. 50
20.202.325.00
3.775,512 50
9,007,761.50
31.981.738.50
02.614,492.50
56, 840, 187. M*
39.377,909. C>0
25.915.91.2, 50
29.387,968.00
36,857.7(8-50
32.214.040.00
22.938,413 50
14,780,570 00
23. 473, 664. 00
83.395.530 00
20.875,997 60
22. 445. 4N2 00
20,0hl. 415.00
28.295.107.50
31.435,945. 00
23.828.625.00
19.371.387.50
17,682,987-50
4 680.577.14 30,926.11 ] 729,047, 572. 50
1.752,477 00
1,564,583.00
2,002.090. 00
2,809 200.00
1.575,(00.00
1,994,57800
2.495,400.00
3.175,600.00
2.579,000 00
2.750.000.00
3,415.002 00
3,443.003 00
3.(06,100.00
2,096,010.00
2.333.243 40
2,203,778. 20
1,726.703 IK)
1,132,750.00
2,332.750.00
3.834,750.00
2,23.5,550 00
1.873.200 00
2,558,580.00
2,374,450.00
2, Oil). (>.'<(> (»'
2,114,950.00
l,8(i6. 100 00
774.397 00
1M9.410 00
9.077.571.00
8,619 00
3,501.245.00
5,142,240 00
5,478,7(0.00
8,495,370 00
3,284,450 00
2,250,390.00
3.783.740 00
1, '252. 510. 50
809, 267. SO
609,917. 10
601.005 00
982.409.25
908.876. 26
1,074.343 00
1.366,143.00
130,478.368. 40
14.921.. 00
10.344.25
23.577.32
2o,63(i. 24
16,680 00
17,115.00
33,008.(0
23, 620.00
28.100.00
19.151.00
39, 489 00
23.100 00
55.5S3.00
63,702.00
31,286. (>1
24,627.00
15.973.67
23,833.90
24.283 20
23.987 52
38.948 04
41. 208. 00
61.S36.09
64,157.99
41.984.32
44.467.60
99.(35.43
50,(30.94
07.050. 78
42,038.35
10,030.79
27. 100.78
178.010. 40
246.(KKl.OO
304.000.00
205,600.00
101 ,000.00
280, 75a 00
498.400.00
920.(87.14
908.552.80
1,042,900.00
1,819,910 00
1,097,150.00
903.000 00
10.891.393.55
1,735,894.00
2.110.(79.25
3.024.342.32
1,741,381.24
2.300.875.50
3, 155, (30. 00
3,923.473.0)
3,401.065.00
3.765,710.00
7. 3S8. 423.00
5.008,067.00
7.764.900.00
3. 299. 00
4,206.710. 40
3.617,912.31
3,42*1.812.50
2.240,581 17
4, 186. 991. J0
11,9 7. 830. 70
7,687,207.62
5.668.505.50
6,633,9(6. 54
22.(38,(11.69
5.879,720. 40
11. 104.605.82
33,8(2.3.*> 00
(0,488.624 93
57.*»..228 44
48,622,539 78
34 577.870.85
32,905.243. 79
42,027,115 28
37.870,810 46
31.0.9, ,83. 50
IS, 429. OjO. 00
25,938,701.00
87,280.270 00
22,409.264.00
23.753.149.80
21.(18.019 24
29.954.665.30
33,4(1. 314. 25
20,657.411 25
22.142,880 50
19,512,130 SO
876,417,534.45
19711—10 - 10
146
REPORT DIRECTOR OF MIST.
No 27.— Coinage or the Mints or th* United States
RECAPITULATION — CooUnoBd.
REPORT DIRECTOR OF MINT.
147
FROM THEIR ORGANIZATION, BY CALENDAR YEARS— Continued.
RECAPITULATION— Continued.
Minor coinage.
Total coinage.
Total value.
Cents.
Ilalf cents.
Gold.
Silver.
Minor.
$4,080,577. 44
$39,920. 11
$729,047,672.50
$130,478,308.40
$10,891,393.55
$870,417,334.46
52,750.00
. 23, 198. 787. 60
1 , 378, 255. Si)
350,325.00
24,977,368.00
30, 295. 00
21.032.085.00
3. 104, 038. 30
99,890.00
24,230,613.30
40,420.00
. 21,812,045.00
2,504,488.50
309,380.00
24.080.513.60
110.765.00
. 67,022, 747. 50
4,024,747.00
379, 455. 00
01,126,950. 10
141.875.00
. 35,254,630.00
0,851.776.70
342,475.00
42,448,881.70
135,280 00
. 32,951.94000
15,347.893.00
240,970.00
48,540,803.00
79,440.00
. 46,579. 452. 50
24,503,307.50
210.800.00
71,293,500.00
8,526.00
. 43, 999, 864 Oil
28,393.045.50
6.525.00
72,401,434.50
57,908 50
. 49, 780,052. 00
28.518,850,00
58. ISO. 50
78,363,088.50
102,312. 00
. 39,080.080.00
27, 500, 770. 00
165,003.00
66.814.859.00
38V, 049. 55
02,308, 279.00
27,411,093. 75
391.395.95
90,111,368.70
392,115.75
90. 850, 890. 00
27,940,163. 75
428,161.75
125,219,205.50
386,811.00
05,887,085. 00
27,973.132.00
960.400.00
94,821.217.00
455,981.09
29,241,990 00
29,240,908.45
1.004,770. 41
60,093.728.86
232,017 42
23.991.750.50
28,534,86(115
796,483.78
53,323,100. 43
117.063. M
.
27,773,012.50
28,902,176.20
191,022.04
56,920.810.74
170,542.90
28,945.542.00
32, 086, 709. 90
343. ISO. 10
61,375. 4.18.00
452,204.83
23,972,383.00
35,191,081.40
| 1,215,086.20
60,379, 150. U>
374,944 14
31.380.808.00
XI, 025, 000. 45
912,200. 78
05, 318. 615. 23
488,093.01
21,413,931 00
35,490.083. 15
1,283,408.49
56.194,022.04
571,828.54
20,407,182.50
1 39,202,008.20
1. 384,792. 14
01.054,882.84
470, 723. 50
29,222,005.00
27,618,850.00
1,312,441.00
58, 053, 302. 00
370,498. 32
34,787,222.50
12,641,078.00
<261.480.42
48,389,780.92
400,421.95
56,997,020.00
8,802,797.30
1.134,931.70
06,034,749.00
167.521.32
79,540,100.00
9.200.350.85
4.^.1 77. 92
89,184,688.77
383,430.30
59,010,357. 30
5, MW. 010. 25
S82. 430. 50
08, 190.798.31
390,572.93
47,053.000.00
28, 089, $99. 05
832,718.93
70,975,677.98
504,603.30
70,028.485.00
18, 487, '297. 30
1,520. 100.05
00,041.882.35
498.230 79
77,985,757.50
23.034,033. 45
1,124,83.5. 14
102.144.020.00
630.000. 31
111,344.220.00
*20,061.519.90
1,837.451.80
139,243.191.70
008,337.04
99.272.942.50
30.345,321.45
2,031.137.39
.137,049.401.34
796. 111.43
101.735.187.50
30,838,400.75
2,120,122.06
134,693.77a 33
873,767,22
47, 184.932. 50
30.028, 167.20
2,447,790.17
79. WO, «95. 87
850,944 93
43.083.970.50
19.874.440.00
3,251,281.18
06.809,691.68
013.280 15
233,402.428.00
15,095,609.95
1,683.529.35
250,781,567.30
807,191.03
49,638.441.00
6,332, 180.90
2, 298. 555. 43
58,209.177.33
900,222.55
76,793.045.00
10,051.087.85
2.8H0.908.80
92.335,041.65
1,081.380. 18
131,907,490.00
13,178,435.75
3,042.126.18
148,128.051 93
334.429.87
1*1, 638.632.50
12,391,777.25
1,408.738.72
145,499.148.47
20,333,080.99
39,926.11
3,021.837.272.50
953,615,800.20
52,910,263.03
4,028.372.390.33
148
REPORT DIRECTOR OF MINT.
No 28.— MONETARY STATISTICS OF FOREIGN COUNTRIES
The bureau if? under oblations to representatives of the United States for informa¬
tion obtained from official sources for data respecting the monetary conditions of the
respective countries to which they are accredited.
NORTH AMERICA.
CANADA.
American Consclate-Gexerai ,
Ottawa , March £5, 1909.
Sir: In response to Department of State circular dated January 21, 1909, relative
to the production, coinage, etc., of gold and silver in foreign countries, I have the
honor to state that the full data requested in the accompanying Treasury circular are
not obtainable, but 1 beg leave to forward the following information relative to the
subject indicated.
The total amount of gold coin held in the Dominion treasury on December 31, 1908,
was $01,170,791, of which $.>1,909,070 was gold coin of the United States. The amount
of silver held in the treasury on the same date was $-502,601. The amount of specie
(gold or silver) held by the chartered banks of C anada on December 31 last was
$27,099,07-1, but it is impossible to say how much of this amount was in gold or how
much in gold coin of the United States.
The gold production in Canada during the year 1908 was valued at $9,539,274 and
the silver value was $11,667,197.
The total amount of Dominion note circulation outstanding December 31, 1908,
was $<9,434,693: the amount of the note circulation of the chartered banks of Canada
outstanding on the same date was $73,0)8,234.
The gold coin imported into Canada during the calendar vear 1908 amounted to
$S,942,115, of which $8,874,928 came from the United States, $50,00S from Great
Britain, and $17,179 from other countries.
During the same year the importation of eold bullion in bars amounted to $69.3,815,
of which all but $831 came from the United States. Silver bullion in bars to the
amount of $333,534 was imported from the United States.
The export of gold-bearing quartz, nuggets, etc., during the year amounted to
$7^27,460 of this amount, $7,715,675 went to the United States.
u-1 ver’ <-*ontained in ore, concentrates, etc., amounted to
$12,403,-8-, of which total $9,989,694 went to the United States, $1,396,261 to Great
Britain, and $1,017,327 to other countries. During the calendar year 190S£:old bullion
was exported from i Canada to the United States to the value of $4,400 and gold coin to
ue«°il *U^2,4J-. Gold coin exported to other countries amounted in value to
tvr^ SUver coin was exported in the same year to the total value of $713,671, of
which $, 13,039 went to the United States.
0t ** “iut bos been very limited on account of the fact
SftL" L?Lye&T* P™r to opening, in 1908. an unusual amount of
tte mini coS °“ ac™unt' A' the ver> rlo8e of 1908
ofI,lvo“o0Sfo“leet^fo^%^0f C°i“Be' P‘aCe °' n‘anUfar,Ure' and am0Unt
Year.
Place ol coinage.
Amount.
im .
England .
$350,000
JOQf, . . . . . . . . .
. do .
450.0U0
1907! .!!!!!!!!!!! . . . .
. do .
809, 4<0
. do. .
1.1SG.0U0
The amount of eilver coined during the year 1908 at the Ottawa mint was as follows:
BO<wnt pieces. .
25-rent pieces . . .
l(Rent pieces . . 110.Mrt.25
Scent pieces . . . . 76. K 3 10
. . . «LQ SU) m
313,335.35
report dieectob of mist.
149
Of this tmouni. $22,397 was produced by recoining worn alver *290,941 35
waa produced from new bullion. The deputy master estimate* that fine cold of the
approximate value of $1,450,000 waa u.*d in the ind^nrixl arts d urine the year 1908
in Canada. .
It J* impossible to estimate the amount of American silver now current in Canada,
but dun ne the fiscal year 1905-6 the Canadian government undertook to collect and
export it through the bank*, and during that vear a recent return shows that $580,224
of such sliver was in that way shipped Conn Canada. Since that date there has been
no governmental attempt to keep American silver out of circulation, and it is in
somewhat general use throughout Canada.
I have the honin’ to be, sir, your obedient servant,
_ w John G. Foster, Consul-Gnurml.
Director or the Mint,
Hasktayfon, D. C.
American Consulate,
ftimoudri, Quebec. July 10, 1909.
Sir: 1 have ihe honor to report that numerous attempts have been made in the post
few yean to collect and deport American silver coins from the Dominion, with Little
success. In March last the Canadian banks again began to agitate the matter, and
later formulated a plan for the purpose of substituting Canadian silver, and this has
been presented to the government lor its approval and assistance.
The arrangement, in all probability, will be rimilar to the one in vogue a couple
of years- ago, which was that all branch banks in the Dominion fand there are 2.026
of then were to collect American silver and forward it to the head offices, there to
be expressed to correspondents in the United States, the Dominion government
defraying the expense of transportation and allowing the banks a commission of
seven-eighths of l per cent for their trouble
While there is only a small quantity of American silver in circulation in this locality,
there are sections of the Province w here it is more in evidence than ( 'anadian coinage.
There are, however, a con-jderable quantity of American bills in circulation in this
as well as all other sections of the Dominion. While the**e are received as freely as
Canadian bills, they are not paid out by the bank*, but are i*ollected and forwarded
by banking institutions to their respective correspondents in Xew York, principally,
for account of exchange.
Am transmit ling herewith a clipping upon the subject from the Montreal Herald,
dated July 8, 1909, which is of intere-t
I have the honor to be, sir, your obedient rervant,
Assistant Secretary or State,
Washington, D. C.
Frederick M. Ryder, Consul.
United States Silver^Coins_wlll be Deported eeom Dominion.
CANADIAN BANKERS’ ASSOCIATION' ARRANGE TO COLLECT ALL AMERICAN SILVER COIN
AND SEND IT BACK.
The Herald understands that the department of finance at Ottawa has approved of
a plan, submitted by the Canadian Bankers’ Association, for the resumption of the
collection and deportation of American silver.
On inquiry at tne office of Mr John Knight, secretary of the Bankers’ Association,
the Herald learned that the work of collecting and deporting American silver will
be commenced immediately.
It is estimated that in the western provinces of the Dominion one-half of the silver
in circulation is United States coinage, and the assistance given the government by
the banks in replacing American silver with that of our own country in the increase
of seigniorage (profit derived by the government on bullion brought to the mint to
be coined) is very considerable and of course means a good thing for the country,
though not for the bank- themselves.
It is estimated that the American silver in circulation in Canada is quite 40 per
cent of the total in circulation.
About two years ago the bank- arranged with the government to have American
silver deported from the country, but at the end of the year the government grant
expired and the whole arrangement fell through. It is believed that the present
plans, however, will be permanent, for sentimental as well as burinewj reasons.
150
REPOET DIRECTOR OF MINT.
MEXICO.
American Embassy. March .11. litott
Antvrrrt to inlrrrogoiorieM, 1908.
1. The amount oi pold coined during the calendar year 1908 was $8,900,000. being
in coins of $10. Neither domestic nor foreign coins were melted down for recoinage.
2. The amount of silver coined during the calendar year 1908 was $7,889,000, as
follows:
fl pieces . . *7.575.000
50<«n pieces . . 244 000
25-OttU pieces . . 70.000
Recoinage of domestic money was to the extent of $1,985,085 (face value), which
yielded $46,169 of pure silver (200.418 kilograms) ; and recoinage of Central American
currency, collected in the State of Chiapas, had the face value of $600,065.93, yielding
pure silver to the value of $12,709 (167.370 kilograms); the rest of the coinage was
from bullion. No coinage was executed in foreign mints.
3. No coinage was executed for foreign governments.
4 and 5. (No reply.)
6 and 7. Imports and export* of gold and silver during the calendar year 1908.
Statistical reports concerning importation are formed in accordance with the cus¬
toms tariff, and as the latter embraces gold and silver in one column, it is not possible
to determine the amount and value of one and the other.
Exportation ok Gold and Silver during the Fiscal Year 1907-8.
OOLD.
CtaaaiAratiaa and country
Weight.
Value In Mat-
Gold in rock, powder, and earth: rUtmrmiKt
To Germany . A
. >,»:§?
To Great Britain . .
Total.
Foreign sold coin
To Spain.
9 United
.243
132.74677
452-00
J.532.2SO.L5
324.00
3B3.5M.4fc
2.21A 505
2,956.001.57
To United States . y ....... . ‘ "l 1.1" 5.0 iTwaW
Total . ‘p1-’
Gold in ban:
To Germany.. .
To Belgium. . .
To United Stales. .
To France .
To Great Britain.
Total.
1,4*0 *45
510.330
11.411 1«
1.145 701
775.082
5.046.»3.^
1, *74.510. 01
6N1.439-W
17.4K1.544.57
L.S77.596.75
1,033.455.13
Gold In cyanides:
To United States .
To Great Britain..
Total..
Gold In sulphides
To Germans’. .
To United States
To France .
To Great Britain.
Total.
17,323.254
23.0*7 628.70
14S.04T.
1*7.395-64
*1.553
122.070 54
239.599
31*. 4*A *
S5S.M
309.015
412,OM-£
.lss
250 «
64. M0
*8,452-9*
•9.613 25
llRPOitT D1BHCXOB OF MINT.
151
K*i-oktatio»* ofOomi and Silver ouuino tiip. Fiscal Year 1907-8 — Continued .
iir.VEit,
ClHMlAnllon Mid oumitry.
Hiurr III rook, powder, mid enrlh:
'l o (le Mutiny,, . . .
To Belgium. . . .
To < miimIn .
To United Htalw .
To Franre . .
To (Ireat llrliuln
Total .
Mcnii.iu diver coin
To Chinn .
To United Huu*«.
To <1 rant Britain ,
Total
Voreign diver oolli:
To Cub* .
To Hpaln..
To IJnlUil MUtei
To (iunU'iimlu. .
Total.
Mlvrr bullion (barm,
'I Ill III V
To United HUtw.
To Kmnre .
To (Irirot llrltnlti .
Tolnl . .
hllver In lend Imn:
To <lerinonv\
To Heb’him
To Chilli HlHtM .
To Orenl Britain .
Total . .
Oliver alloyed with copper
To United Hlatee .
To Ureal Britain. -
Totul .
Hllvrr In cyunldor
To United Hhiuse .
Tn Urol Mi Until
ToUl .
Hllvrr In eulphldii;
To Uermnny . .
To Unlutd AlaUa...
To France ....
To Orrnt Britain.
Total
Wolght.
Value In Maxi*
can dollar!
Kilogram*
a.wn./M
1 1 , KOI), 782
112. 32ft
2AH, 44ft. 21 1
. 212
H.aftO.3 M
Pttn*.
34J.4A7.77
4AH.013.3A
4,<W.A8
10, 77ft, Mft A3
7.02
2M.947.0A
287, AM. AW
11 02VM/.70
12.210
121, 187
130, 107. 433
AOO.OO
A.Gftl, A74. 00
A.A73.000.00
ano, W7 22i
10,06A,074.00
070 00
4,40.1 00
Iftl.HlHOO
7,040.00
1M, 037.00
37,OaA.U0ft
37ft, 304 A12
00,723 022
70, lAA.flOA
1,901,182- M
1A.0AA, 1H0. 03
i 3,703,000. 60
2, H77.A40.HO
583.030 424
23.IV7.3A1 38
IflO.ftOA M2
Oft.ft70.OA2
370. 702.0.01
20. A7J **
0. 477.8*1 14
2, HI 1,01*). OH
I4.A70.21I M
l.Ofkt, 120. Ah
O27.AA0.A1H
34,022,230.43
SOft. 172. 17*
21, 21ft. «U
20.202,700.80
KJ7.2ftH.OA
A30.3Hft.8M
21.000, 05ft 8A
3,77A.ftHO
2.8*7 M»2
Iftl.OAA 02
110,040 00
ft. (HUl 272
jsii.irift oh
' 3.800- A47
14, KU 3M
H7. 404
1,1X13 . 30ft
1A4.H80. 08
63ft, 301 07
3. M3. 4ft
79. AM. 00
| 20, 402. All
7Oft.AMl.0O
... 03,012,700,23
Amoimt. ivlillv. to mill .ml iilviT Hi” U» »' I™* «°w “,J *",w ™"UU“'1 to
bO!tUt!llX ktlo.n»ni, ma .llvrr b v.lo.l .1 Ih. .v«m PrW II tad ho,. durla, c*h
month 111 I lie London market
u .nrt 1} No ITniloti stuton Bold coin wo* deposited at or molted down in thin mint.
No information ran In* obtninod concerning the amount and value °f nn^
i?. ooln™m,^l from iifm-ad, .,or,.u.o taction l»l of lb. <•«.«*, n„ tartlt ...nbr,.-,*
both in one column,
10
and * l°l ! Tho' prod uction of gold and nilvor dnrinK 1007-8 wan o* M Iowa:
noid.
Hllu r
IW.SW 4H
9. 151,014. 313
|40. !U7, lftl27
KA, 300.004 on
I tome.
152
BEPOBT DIRECTOR OF MIST.
MeiiC° Ci*y 'Ubmit! th<‘ foUowin!t fi«urr9 *» “>•
.
HUw (file)..... . . . 2, 391. 260. 570
******
BAni n°te9 ^ circuUtkm on lumber 31, 1908, represent & value of
M. Yriootes
CENTRAL AMERICA.
COSTA RICA.
American Coxsclitr,
Sen Jo*, Jffirdk 4. 1909
Aanrer* to imtorrogatorie*' 1908.
No'c4^ Lt^^Szsr1 “ “ c~“ “» » *« **«* «*«••
J 5- 5° »9 to Raid and silver used in arts. Quantity negligible
6 and 7. No gold or silver was imported in 19QS. J
S1.29S
. . . . JO £56
daB®^5a*w»sasaaM;
s^i5aS.!=SsSH5«as £txs
lSS5ffiffiBS^S®S3S5£:-
^"SSUMTIS: ■“
.. ssjme&s sjar 2r«”' sastass r™„
Gold, in baaks .
J^WoidCprwtkmay all
. mMn
JlS^lT^uu^:000 “ VWOOOO; “ «■* «■*
Sfliw, in btAks
Held to mure jpv
. . . . sr »lm« nt.gxa
Lt . . . *4.000 -a IV OO CO
v. , . . . “ . . LSO.OOO -«J 750 00
16 l“ r,UUshjppod bulli m’ but amount small
16 and 17. Government note, outstanding at the close of the calendar year 1906:
. 3S.W.TJ-|U,78l M
Mlvw renSoiSi l^fbt £ “d •igh'y-fcor tW-aud colonea ii
is »d ». BMkn.^iSL'^^<^lTs^:<,uwt,on No 15 '
Total «ni«*3n .
'■ drtrrtoratod
. 4.450 COO- iWRikUtt
. 43 U0-. JO. 143. SO
. *141415- 1460.075 9$
a Colon equals $0,465
REPORT DIRECTOR OP MINT. 15#
Bank no U* outstaiuJing not covered by legal-tender coin: None Banka hold in
ex» e-a of 50 yer rent legal reserve.
2). Actual currency of the country: Geld, fractional silver, government and l>ank
note* payable on demand in gold, silver certificates.
21. Gold is not at a premium.
22 and 23. No monetary laws were pawed in 1908. Costa Rica has no mint or
department of mine*.
Finance and Commerce in 1908.
I From BoUrtln of th* IntrrnalionaJ I’nlon of thf American JUpublk*, July, 1900]
*******
On March 31, 1009, the banka of iwue of the Republic held *512, 185 in bank bills
and a reserve fund of *237,392 A comparison of the cash on hand in the banks of
iwue in December, 1906, with the balances maintained in December, 1908, showed
the domestic and foreign gold reserve to have decreased in the latter year as com¬
pared with the former to the extent of about *279,900. The decrease is account**!
for by the short crops of previous years, which necessitated gold shipments to meet
deficit- in trade abroad. A new banking institution under the name of Banco Mer-
cantil de Costa Rica with a capital of *5tJU,000 was recently established in the capital
and is conducting a successful businew
- *****
Gold and silver bullion was exported in 1008 to the amount of *738,858.
GUATEMALA.
American Legation, Novcmbrr 8, 1909.
Arawcn to mtrrroyalorui , 190S.
1, 2. and 3. No coinage.
I. Weight of gold used in industrial arts during 1908 About 20 ounces, of which
two-thirds was old gold and one-third from coins.
5. Weight of silver used in industrial arts during 1908. About 1 .000 ounces, of which
one-third was from old silver and two-thirds from coins.
0. Import of gold, about *10,000 (Custom duties on exported coffee pavuble in
gold now paid by drafts.)
7. Import of silver, about *500
8. Total import of United States gold coin during 1908 Not over $10,000
9 United Stab's gold coin deputed at mint and melted: None
10. Gold produced from mines of the country during 1908 Absolutely impmwiblo
to be found out.
II, Silver produced from mini'* of the country during 1908: None
12 and 13 Output of gold and silver from refineries of the country during 1908:
None.
t H. Approximate stock of gold in the country at the close of the calendar year 1908
Not over one million. , . , , „ ltww
15. Approximate stock of silver in the country at the close of the calendar >ear IJua
In the banks *100,000, and in private bands about *7.000,000.
, 10 and 17. The Government has not i*su«*d notes by itself, but is responsible tor
bank notes issued for the amount of nearly *90,000,000. not covered by any legal-ten¬
der gold or silver coin or bullion. , . . inAU % i
18 and 19 Amount of bank notes outstanding at the end of the year 1V08 A Doui
18,000 000 that, according to decree 031, must be guaranteed by the banks keeping
in their saf«*a 30 per cent; the law does not say in which class of coin that guaranty
fund must be kept. , VT, , , .
20. Actuul currency of the country: Inconvertible poper anil nickel .Nickel n
over *3,000 (MX)
21 Premium on gold during 100* Highest, 18 for 1; lowest, 13J for 1: average,
151 for 1. . .
, law, „a»«l ,|unnK 1908: The National A-ombly (0onK"-»> |“““orll)'
“the Prmidcnt to nettle I he financial anil economic problem*, includim. none
23 No (mint) reports published.
154
REPORT DIRECTOR OF MINT.
HISTORY or THE CURRENCY OT GUATEMALA.
Previous to and during the administration of Rafael Carrera (1840-1865) gold and
diver were imported into Guatemala from other countries, chiefly England, and
recoined in Guatemala.
During the administration of Justo Ruflno Barrios (1875-1883) silver was the coin
of the country and was at a premium. There was one emission of paper money, con¬
ditions at the time necessitating this forced issue, but it was so unfavorably received
that it wa a quickly retired.
During the administration of Manuel L. Barillas (1885-1892) silver was the coin of
the country. There were two emissions of paper currency, both of which were badly
received and quickly retired, the second being converted into interior bonds to the
amount of $3,000,000.
During the ad ministration of Jose Maria Reina Barrios (1892-1898) the Guatemalan
mint coined silver and recoined old silver from other republics. These coins varied
greatly — from 0.900 down to 0.G00 fine.
There was also a decree that 30 per cent of the import duties should be paid in gold,
eo that quite an amount of gold came into the country.
One year previous to his death he p'rmitted the banks to suspend specie payment
during one year, but was assassinated before the year was over
Manuel Estrada Cabrera came into power before the end of the year and permitted
the banks to continue issuing paper currency indefinitely without specie payment,
ow ing to the fact that the Government owed the bruits considerable amounts of money,
and the Goverament and banks agreed to continue this policy until the Government
was in a position to rejjay the banks in silver. Upon this happening, the banks were
also to resume payment of their obligations for paper money in circulation by changing
same for silver. During this administration silver as well as gold disappeared and
the export of precious metals was prohibited, but most of the currency disappeared
nevertheless.
To take the place of minor silver coins — that is, for changing purposes— 50. 25, 12$,
6$, and 3$ cent pieces (cedulas) were b*sued, but met with little acceptance, there¬
fore obliging the Government to replace same with nickel
During this administration the Government emitted $6,000,000 pajs»r currency,
which is still in force and Li supjioeed to he available for payment of duties. The same
were to have been relieved after a certain number of years, but this agreement was
never carried out.
During the administrations of Justo Rufino Barrios, Manuel Lisandro Barillas, and
Reina Barrios the bauk* were obliged to keep a surplus of 40 cents in silver for each
paper dollar issued, and the banks during these admiuistration.8 w'ere considered
quite solvent; but when the present administration came into j>ower, while all the
banks <say 6) may have had a total circulation of from 10,000,000 to 15,000,000. it is
generally believed that to-day, although there is a circulation of between 50,000.000
and 60,000.000, not 1,000,000 of silver exists in the banks. The only institution which
has any silver security in safe for every bill in circulation of its own paper issue is the
Banco Americano, it having only 180,000 paper money of its issue in circulation and
fully 220.000 silver in safes to guarantee same. Two of the other institutions, the
Guatemala and Occidente banks, have between them fully 33,000,000 to 40,000,000
of their ow n paner in circulation, without any visible guaranty tor same.
During the ad ministration of Carrera and Justo Rufino Barrios silver had a premium
over gold until about 1882, when gold took the supremacy and, until the death of
Barrios, ruled between 5 and 18 per cent.
During the administration of Barillas exchange varied between 18 and 22 per ecu t.
During the Reina administration, and until 1893. exchange varied from 18 to 30
per cent. From 1893 to 1897, when the banks were permitted to stop si>ecie payment,
exchange varied between 70 and 130 per cent premium, owing to demonetization of
silver. During the first weeks of paper currency exchange fell to 121 percent premium,
10 'orell^ loans made ami guaranteed by the banks against which foreigu ex-
W ^ a- th,» roused the bunks such a heavy loss that they were soon
TnJSsS ♦L-n< t-h“ P®1.1^* an<1 exchange rose to 4 for 1, or 300 per cent premium.
1 i a<*mi,u*trajlpn with the issue of the comite bancario bills bv the Gov-
n^mi,?mTdU/SC Prol?lb,tu(?n of 9ilvcr export, exchange quickly climbed from 300
J Prci?1,um* 9 for SI gold, from 1898 to 1900, and during 1902-3
UaSS £ Prcmmm- °r 24 for 1 , owing to destructions of earthquake. For u short
w hirh hL» °^ excban^(' to 4 for 1, owing to construction of the Northern Railroad,
-ght BOI?1P 8°ld, Dlore or loss $2,000,000, into the country and revived con-
“fSTL?- fooGnued. varying during 1903 U> 190G from 19 for 1 to 1G fur 1 , according
to the oze of coffee crops During 1906-7, owing to new people taking hold of the
REPORT DIRECTOR OF MINT.
155
Northern Railroad and the rather large crop of coffee of that year, exchange fell to
iOi for 1, but gradually commenced to go up, and during 1907-8 varied between 11
»nd 17 Z*. 190J-9 the ruling rates have been beTwecn 15* and 18 foTT A
thorough lack of confidence exists among bankers and merchants as to the value of
the paper money, and only such is held from week to week as is necessary for small
change; otherwise same is immediately converted into gold and sent abroad.
American Legation, July SO, 1909.
Sni: I have the honor to transmit herewith a copy and translation of a note from
the minister for foreign affairs, dated yesterday, quoting a letter addressed to him
by the minister of finance, in which he furnishes certain data concerning the mone-
tanr system and the coinage of gold and silver in the Republic of Guatemala.
1 regret that I have been unable to obtain information more in conformity with the
request contained in the letter of the Secretary of the Treasury to the Secretary of
State, dated January 18 last.
None of the executive or departmental offices of the Guatemalan Government
make any pretense to collect or keep statistics, and to my manv efforts and personal
appeals to the minister of the treasury here to supply me with the information
requested in the before-mentioned circular letter of our Treasury Department, I
received the invariable answer that, owing to the absence of statistics, it was impos¬
sible for the Government to comply with our request.
I have the honor to be, sir, your obedient servant,
Wm Heimkk.
Director of the Mint,
Treasury Department , Washington, D. C.
[Translation.)
Republic of Guatemala,
Department of Foreign Affairs,
Guatemala, July S5, 1909.
Mr. Minister: In response to the most attentive comm unicat ion of your excellency
dated the 5th of February of the present year, relative to furnishing some information
concerning the monetary system of Guatemala, 1 have the honor to transcribe to you
the communication which I have received relative thereto, dated yesterday, from
tho department of finance and public credit, which says
“Mr. Minister: Referring to your attentive official communication under dale of
March 2 last, which refers to a communication addressed to you by the American
legation, I have the honor to report to vou the following. The standard and weight
of our currency, according to the fiscal legislation, is the following: National gold
coin of 5 pesos, with a weight of 8 grams and 65 milligrams and with a diameter of 21
millimeters; coiuB of 2 pesos and 50 cents, with a weight of 4 grams and 32 milli¬
grams and a diameter of 19 millimeters; «*oins of I peso, with a weight of 1 gram and
612 milligrams and a diameter of 14 millimeters. Therefore every kilogram of gold
of a standard of 0.900 produces 124 pieces of 5 pesos each.
“The national silver coins are the following: The peso, which has a weight of 25
grams, of a standard of 0.900 and a diameter of 37 millimeters; the half peso, with a
weight of 12 grains and 500 milligrams, of a standard of 0.900 and a diameter of 31
millimeters; the 25-cent piece, which weighs 6 grams and 250 milligrams, of a
aUndard of 0.835 and with a diameter of 24 millimeters. Therefore every kil.ipram
of silver of the above-named fineness produces 40 pesos, 80 half jiesos, and 160 pieces
of 25 cents. . OQ
“In order to facilitate change in small transactions, it was decreed in May, 1899,
to coin 300,000 pesos in small coins of a standard of 0.600 fine, in coins of 12* cents
6J cents, au<l 34 cents; and with the same object, in the year 1900, it was decreed
to coin or to bring from abroad 2,000,000 pesos in coins made of nickel of the same
yaJues above mentioned. At the present time there is no coinage, and since the year
1897 the country' has be^n on a paper
I remain, Mr. Minister, with all
basis.’
1 consideration, y'our very attentive servant,
G. Aouirrf
Sis Excellency William Heimke.
Envoy Extraordinary and Minister Plenipotentiary n
of the United States of America, Present
aojn>r*A$
111 CM^oc * pM md mfrm btm
kWi. vm
157
REPORT DIRECTOR OP MINT.
Incon«d.«wUan that by iocikm A, jian^raph 2, of the m*d decree it i*
th^l in where now are coined, section A of the dec™" hn„r„ IKE. M2
power of tho coin* fur llntirh llnnduru, *kall l>o from the SE1, £?
fn ^rkjmtion nppwvod bv tho tijMinw and SSSSSSJ?!!^
n schedule for each pioco the characteristic* roiT'vi'omlirL: to tlnv* »h». l nr*, in iw I
in Noln III ..( -id d«T. .npliimhlr 0,, 'r," lX ZZ .? h'Tu . c.l ^
proclamation m joined to that third noto.
Consequently, wo, Mr John Kaplc* Swayne, with tho approval of the lord* cotm
nii-aionem «»f II»- MjMy » Ireaauryaml tho very hivmwwble secretary of *uto for the
colonic*. d«rUrv amt arrange by those present* February 15. m\\ a* tlu d*to ^
ws tion A of the deem upon tho monetary syaUim of I s>H shall be applk able to the new
fniot tonal ^al pitcja of bronze and nickel, of whk h. according the require* wti
Schedule^ °* ^ **0P**W li<x rw'« lho characterise am indicated in the fallow in*
Fuactiosai t'oiNa.
5rNib.ll.a5uf a dollar)..
UtsIvsfckL
Natal.
Grata*. Grama.
Rranie and airM . sat S.«s?
(Tianktadan |
Cmuwnr or mt Ran auo or Panama.
(Pomi L'KooooiuUl* Kurvf^en. I'art*. January St ISOAJ
The monetary unit of the Republic la the balboa, a cold coin, weiphiap 1 *72 gram*,
of 0.900 tiucnc**. The United State* of America'* dollar and lie multiples have kpal
currency for their uominal value
Tho coinage of the gold coin* may he made in pieces of 1. 1|. A, 10. and 20 balboa*.
The silver coin* are the follow mp. The piaster, wctfhu g *2 » pram* and equivalent
to fifty one-hundredth* of a halhoa. the half-piaster. wcigfcirg 12* rran'. the r fth
planter, weighing A gram*; the tenth piaster. wcighiig 2| plans wnd the twertieth
Cter, weighing 1 1 gram*. all of the fineness of 0.900. The natkmal silver omm have
I currency in all transactions
SAN SALVADOR.
Amkkk'an 1 rc.ATioN, April S1t !*•
.inmrj to iMfervoyeforiVa, Iftti?.
190S Government of Salvador poasmwOi no mint, no gold ear coined ia the
.. *• No rilvw n< coiirnl in S*lv»d« in W0S. bnl I M0,(W>rok*« ww <v ^
the Government of Salvador in Helgiom, and 800.000 oelonee for the lvaocolVv ulentai
Selwador in San htncuea rah, in the > car PHIS
*• °oinipw wan executed for other government*
tit* One pold used in the arte w a* equivalent m valve to appmsun
r l*ie S''1'! used was exclusively coina melted over ,I4WM:
6 The amount of tine diver mad m the art* wa* equivaleet in n*1> ' ‘
inately %\ms of this a very Knall quantity wm old rtlver. the laUni'e VA.xawMa^
t mlean, and Bolivian coin* 'not in circulation in Salvador. ....We*.
. No fold war imported d«riepl90S. Silver to the >wli.eof..M UXUn
** *tatoii in No. 2, wa* ituj>»vii«Hl in 1D08.
158
REPORT DIRECTOR 09 MINT.
Table Showing the Exhqktatiox of Gold avd Silvee, 1908.
Iteecxipticc.
. . .
Net
w«tsfiL
Value in
United Steles
fdd
Scrap* at gold usd stiver. .
A'/ofnmj.
2,00.0
82. STL 00
217.461 27
438, S*. 61
Ii#Mi«tpitdMdi&m .
u,«e.o
1.236.7
8Gl.fi
Odd tarots .
Gofid button .
282.72X64
S53OCH0
121.43X90
SOrer ingots .
iaa.2
Aarlfcr'm stiver .
4 .ml
Total _
24,8*4
1, 188.487 O
8 and 9. No United Stales gold coin tu imported during 1906, and none deposited
or melted
10 and 11. Amount of gold and silver produced from mines of the country during
1906: No mining statistics except the eastern -house figures are available, and as they
do not always discriminate between shipments of gold and silver, sometimes grouping
both metals under one invoice, it is not poaublc to give the total production of gold
and that of silver separately, except as shown in the accamiwnving table, viz- ‘'Ex¬
portation of gold and silver, 1908.
12 and 13. There are no refineries in Salvador. (The Government of Salvador
poatcaoe 1 no mint and maintain- no mining or geological bureaus: moreover, there are
no mining or engineering societies in Salvador Consequently it has been a matter
of great difficulty to obtain accurate statistics. \
14. There is no stock of gold coin or bullion in Salvador.
15. Approximate stick of silver coin and bullion in the country at the close of ths
calendar year 1908. According to the minister for the treasury iKere was in circula¬
tion at the clo*e of the year 1906 the sum of $5,294,455.73.
16 and 17. The Go vena men t it-ues no note*.
18 and 19. The amount of bank notes outstanding at the end of 1908 was $3,86S,G46;
according to the laws of Salvador, these notes are secured by deports in silver coin or
bullion in the vaults of the respective banking bouses by 50 per cent of their face value.
20. The actual currency of the country was $9,163,003 7£— $5,294,455.73 in silver
and $3,868,648 in bank notes.
21. Gold is at a premium in Salvador; exchange in 1908 fluctuated from 140 per
cent to 175 per cent.
22. No law* were passed in 1908 affecting coinage, i»ue. etc.
23 No mint: no report published.
DOMINICAN REPUBLIC.
American Legation.
Santo Domingo* MarcA //, 1909.
Answer* to wlcrrogalorite, 1908.
1. 2. and 3. Amount of gokl and silver coined and coinage executed for other govern¬
ments during the calendar year 1908: None
4 and 5. Weight of fine gold and fine silver used in industrial arts during 1908:
Amount inappreciable.
6 and 7. Import and export of gold and silver coin and bullion during 1906: Gold
coin from the United States $265,377: -nlvercoin from the United Stated. $94,311.
8 and 9. Import of United States gold coin and United States gold coin deposited
at mint and melted during 1906: Answered by No. 6.
10, 11, 12, and 13. Amount of gold and silver produced from mines of the country
and output of mme from refineries of the country during 1906: None.
14 and 15. Approximate Mock oi gold and silver coin and bullion in the country at
the clo-e of the calendar year 1906: No official data obtainable
16, 1< . 18, and 19. Only the Government has assumed responsibility for the bank
notes referred to, as follows- Nominal value, $791,562 The notes have been deprived
of legal tender quality, and the bank of iawie is no longer in existence. The notes are
not in circulation, but are held by speculators.
REPORT DIRECTOR OF MINT.
159
20. Actual currency 0f the country: United Hut™ .i
P*"**1 » *» 1 “»'l ***<«»l U..irlt.r to the amountof 30 pir 'em "* whirh
21. Premium on gold: None. ,WCBDl
ll' 2° Uw,Jrfro durir,K 1008 tffocUng the currency
2.1. No report is published on operations of tho mint *
HAITI
There
Auhiin an Lkoation,
Port au Print* , April t6. I von
A turner t to interrogators*, 190H.
m no mint,in ’Hm°trld ^ riUi'rY,'M roined* rt‘coi,1(‘d- or meltod . luring imoh
tint 6- n,t°Pe.1fe n?,taiijBtic* Awing tho amount of fine gold or fine silver used in
dlvor ( 1 u,r 1 lan ,,J ph<*<*niphy seems to be no industrial un of gold or
0. During 11108, the importation of gold into Haiti amounted to $880,110 39. There
are no Htatistirs available showing exports of gold during 11*08.
w ..Vn !r If0/ imported during 11K)8. Some Huilien silver coins wore exi>ortod as
bullion, but it u impossible to give \alue.
•«2n,1l^0.;Jh^i,11PV^'*“n °* United States gold into Haiti duriug 1908, amounted to
io i i i! j co*n been melted. Then* is no mint in Haiti.
10, II, 12, and 13. There whs no gold or silver produced either from tho mine* of tho
country or refined during 1908
i*and "talisfir* are kept us to the stock of gold and silver in the country, in
public treasuries, bunks, or in circulation. There ia no gold or silver bullion in Haiti.
10 uml 17.— Government notes outstanding On December 31, 1908, there were
outstanding 8,760,998 gourdes, iwper This amount was not covered bv gold or silver
coiu or bullion
a(,'d 19. There are no bunk notes in iluit i
eoit aoll,u* currcncy of the country is inconvertible pajs*r, nickel and cupper
-.21 - Hold ia at a premium a* compared with the actual currency of the country.
• ho highest premium during 1908 wu« 900 per rent; the lowest premium 496 per
CDon’ 'V1*1 un. uv<*n»go premium of 042 per eeut.
•J- Authority was given bv ihe law of Muy 14, 1908, for the emimiou of 2,000,000
gourd<*s, paper, in 6-gourde bills, and the coinage <«f 400, 0<K) gounios in f>U-cont nickel
pieces. The law of August 21, 1908, authorized the coinage of 2,000,000 gourdes of
60-cent nickel piccoa. Those nickel coins were ull made in tho United States and
PV“«K«J*D<>n MOon m* received. (Copies of laws annexed)
-3. Then* is neither mint nor department of mines in Haiti
Law.
Nord Alexis, President of tho Republic, using the power thut article 89 of the eonsli-
lution grunt* him;
tonsidering that lo overeome the insurrection of the cities of Uouaives uud Si.
Ware, the Government was compel let! to incur heavy expenses, which it u* necessary
Jjj ri«gulute and pay without delay; that it is immediately indispensable to restore to
He current service the funds thut have been used in part payment of these expenses
*nd to pay off tho balance. , . mumt
'Sundering, on the other hand, thut the eonaaquenco* of that insurrection mu
uannall y reverbemle on the fiscal period 1908 9, in parolyxmg the affairs in
n djsonninixing the public service, in obliging tho Stuto to (insider with urgency uie
nSu1 "f l“° 5iture with a view of guaranteeing pence; .vir4l
ih,Vn 1 r,,lM,rt of Dio secretary of slate for finance uud coiumorco and lh« ad
thn f°nnci,1 1,10 •ocrotarioa of state, 1ms propaaed, and the legislative corj
following lft*; .
of aIT,CL* 1 The secretary of slate for finance is authoris'd, upon rtHfliiaU
^ the present law, to make an emission of 2,400,000 goimliw. of ^hieh 2,°0M0O of
5t£ T^rr ,h‘‘ value of 5 gourde* each, and 400,000 gourdes in n uk* I PJJ^
Wln ** DtOS, which amount i* de*tim*d to cover bolh the , tJ deficit
of Dm insurrection nf the cities of St Man and Oonaivm and tb
°ttl.u fiacal year 1008 9.
160
BE POET DIRECTOR OF MINT.
The phare of the two fiscal period* shall bo estimated at the rate of 1,000,000 gourdes
for the period 1907-8, and 1,400,000 gourdes for the period 1908-9.
Art. 2. The notes shall be m*o color and divided into 20 series of 100,000 gourdes
each. The guaranty shall be the proceed* of 512,000 American gold, to be drawn
monthly from the 25 per cent surtax levied on the total import duties, and sold at the
rate of the day exclusively, for 5-gourdo notes, and shall commence three mouths
after the first three eerie* are put in circulation.
It is understood that in no case shall the $12,000 appropriated be diverted from the
purpose for which it is intended. This amount shall be under the exclusive respon¬
sibility of the secretary of state for finance and the director of the office of receipts
and expenses.
The LO eerie's shall bear the letters from A to T, and shall bo numbered from 1 to
20. They shall be of a smaller sire than the notes at present in circulation. Each
note shall hear on its face at the top the weirds “Liberty, Equality, Fraternity, Repub¬
lic of Haiti j" in the center the coat of arms of the Republic; at the two sides the effigy
of the President of Haiti. A little lower shall follow these words “This note, the
issue of which is authorired by the law of May 14, 1908, is legal tender in the Republic
of Haiti for the sum of 5 gourdes, and its redemption is guaranteed bv the appropria¬
tion provided by the said law.”
On the reverse there shall be printed under the figure “5,’’ indicating the value
of the note, the following words: “Those who shall counterfeit or falsify the notes
of this wuc and those who shall make use of the counterfeited or falsified notes shall
be punished according to the law.”
Each series of these notes shall be signed bv a delegate of the department of finance,
a member of the chamber of accounts, and by the director of the bureau of receipts
®n d expenses. They shall each receive a recom|>ense of 250 gourdes per series and
the director of the bureau of receipts and expense an additional 2,500 gourdes
The 50-cent nickel pieces shall be coined under the ’conditions fixed by the law of
August 20, 15)07. 3
I From the first to the eighth of each month, at the latest, the proceeds of the
ii iL °* , ?. Prt*coding month sold at the rate of the day against notes of 5 gourdes,
shall be publicly burned under the care and supervision of a commission comped
ol one senator, one deputy, and two citizens chosen by the President of Haiti
j ^'bo withdrawal of the 5-gourde notes being effected, the pro
ceeds of the $12,000 shall be employed conjointly with that of the appropriation pn>-
v ided in article 2, of the law of July 5, 1907, to withdraw from circulation the other
paper currency according to the manner established bv the preceding article.
Art. 5. The manufacture and other expenses of this issue shall be borne bv the
guarantee appropriated for the reimbursement of the 2,000.000 gourdes. However,
tile secretary of state for finance is authorized to make the advance for the service of
the u*ue from the treasury funds if necessary.
Art. 6. This law repeals all laws or provisions of law that are contrary thereto. It
Undor the f,u^rvir,ionL of thp secretary of state fur finance and corn-
men e, who shall, moreover, take all the administrative and necessary measures to
assure its proper fulfillment. 3
Passed by the house of representatives. May 11, 1908
PasstMi by the Senate, May 14, 1908.
Signed by President Nord' Alexis, May 18, 190S.
Law.
Nord Alexis, President of the Republic, in view of article 69 of the constitution;
yoar 1 ^ ** * indl*Pen8ab,e m«*t the supplementary credits of the fiscal
f onnidenug that the sum of 1,000,000 gounlcs voted bv the lau- \l»v 14 lflOS
B»3u, “ ** <* «*» nW ^U“
the fol lowing °/a ^'prot,enUl1 vca> on the pmpoaal of the secretaries of state, has voted
and^TmburJffi^OO1^ ES’Jfc ^‘P^ncntary credits of the fiscal period 1907-8
is a u t h iH kL , ’ . p >urdJ* dl Vl*rted from that fiscal year, the Guverumcnl
the sum of 2 000 000 b<?1 *,lviuitage of the slate, not to exceed
tf IteLtcoU? •|iaW-S0,llvd ^nt nickel similar to those
O. Uii last coinage, not to exceed the said sum of 2,000,000 gourde*.
repokt director of mint.
161
Abt. 2. The cort of the coinage, in caw that the Government shall have recourse
J**? Va ±d,[Ig, h»e f"r ,he "biproont Md all other expert, that is to *7
about |44t GOO, shall be enten'd a* expen ses and the entry which ‘hall lx* accompan?^
K “ 'he b"dm ot fina“c” f',r ,he ^ H'ar
t#A?Tii3w The P7*r 15W a.h'n^ral°8 a)l laws or provisions of laws contrary thereto.
It shall be executed under the supervision of the secretary of state for finances and
commerce.
Given at the palace of the house of representatives at Port au Prince, August 19
1908, year 105 of the independence. ^ ’
The president of the house:
. . G DeSROSIKRB.
The secretaries :
J. B. I.A TRENT.
Emile Marcelin.
Given at the national house at Port au Prince, August 21, 1908, year 105 of the
independence.
The president of the Senate:
S. Archer.
The secretaries:
D. Theodore and D Lerebours.
In the name of the Republic, the President of Haiti directs that the above law of
the legislative body be vested with the seal of the Republic, published and executed.
Given at the national palace, October 27, 1908, vear 105 ot the independence.
By the President:
Nord Alexis.
The secretary of Btate for the department of public instruction:
T. Laleau.
The secretary' of state for foreign relations and worship, ad interim:
J B. V. Leconte.
The secretary of state for the department of public works and agriculture:
^ F. N. Laraqub.
The secretary of state for war and navy:
The secretary' of state for the department of interior;
The secretary of state for finance and commerce:
C. Cklesthi.
J. B. V. Lecontb.
F. Marcelin
SOUTH AMERICA.
ARGENTINE REPUBLIC.
Financial Statistics. 1907-8.
| Prom Bulletin ot the International Union at the American Republics, April, 1909.J
In 1907 the banks of the Argentine Republic had on deposit PjM. “
compared with $20,47-4,471 gold in 1908, and $729,328,111 national nionev in 1907, as
compand with $809,323,321 national money in 1908. , . 1908
The funds on hand in gold in the government conversion office a I
•mounu-d *iM.4S2.51.S 7#. a* with ^2^ ofi5
el 1007, ,n incivaao in 1«(I8 of *2I,3#8.M4 Tlic governmen' cimi (l(
(caja do conversion) is an institution established for the redemj
P*I>er money for gold at a fixed rate of exchange
The Monetary Sittation in the Argentine BErmuc.
| From L’fcwraomlste Baropfan, Pari*. September. 1
PP to *881 the Argentine Republic had uu incongruous uatuig value; l_
.n gn at pniportiou, of pa,x*r money of a o,ntiminll> fiu< tuaimg
they generally effected their commercial transactions ui f< J^if The {taper
Dunng m*ny years Argentina was subjected to * K d’Escomilti
“W^ney had its origin in the issue of 290.0W pesos, made by tin Ikx uqu
19711-10 - 11
which
162
REPORT DIRECTOR OK MINT.
vvrwru rnu> no noici aes Monnaies, they increased to 15,283.640 poms, and in 1854
103 91 5206 pesos Monna11* wae changed into the Manque de la Province, u>
In 1881 the slock of inconvertible paper reached 882,071,156 pesos, in consequence
i ,S£CuBnr* u*UOB of the and provincial governments
In 1875 they attempted to establish a sound monetary system, but, owing to the
economic and financial circumstances under which the country was sustained, tho
project failed. ’
»in 1??1 £ Beconl had more success. Tnder tho administration of General
itoca, M. Komero being then minister of finances, a law was promulgated e-tablwhing
fin* ™ S'n urvf ff*° ** “nnc^fy nnit; the first with the weight of 1 6129 grams and
fineness of 0.900* the second with the weight of 2.5 grains and fineness of 0.900. That
law also established the metallic converaion of the depreciated paper monev.
The monetary' situation has not been improved because the forced currency that
for some years had been suppressed was reestablished in Januarv, 1885, and the
*n'‘w In June. 188.5, it reached to 50 per cent; the
senous political and financial emergencies of 1890 again favored the depreciation of
t #nd Prei®J“m reached 215 per cent in the month of April, 1885.
mi“, P - 1 ovprthrow of tho paper money, of which the true cause* were the
w"lJe8 of P*!*? lo, Krye. the needs of the Government, to supply ih.ee
ww^ot atlaiued1116 CConomic dommwn of Republic, as will be seen farther on,
Paper money hod the result of making the premium mount
in 0cUjber’ 1891, 1,1 ennseqasnee tho monthlv quotation of gold
M7 In «Su?*77 Pf.FHT J,UCtHated between 359 and 290 in 189.1; 433 and
Th« hSL 3V d l1}10 332 and m in 18®6; and 317 and 274 in 1897.
roXv-rn 5 succeeding administrations have all declared their strong intentionjto
M .roB/* JIM favorable plans for eet ah Inching a sound monetary system is due to
L IS,!?; 7u°’ ,n *5**! ,18?9’ a plan of reform to Oongma to
toS^UdS«ufwreS“ p*per ,nuue>' Th» mu‘d "'"n u,e
If0,*1 whirh ,Would the intended conversion directly
in confomutv with the true present valuation of coin.
Si*0?1*?! effective metallic r.*erve to guarantee and make that con-
lim“’ ,ho coin w,”iId stability.
SrhJlUti ? hte S"*! standard by the two following means:
(?) *'le Mtablisliment of a bureau, working in some sense automatically in the
,u 1890)- ^ord^ sc^Tto^v^Sy to the
oTBie nuantitv°ofWeh Mh |th° r*rc}J,allon *** increased or diminished at the ratio
01 /rl® Quantity of gold deposited m exchange therefor.
Nation.nUirVent,°n int° lhC changes by means of the Bauquc de la
loldfoX' aPProv'H,thc P1*", '-hieh umred the .ubrtilutira of
gold tor tne paper money at the rate of 44 centavos in gold per paper peso and autimr-
™Lreipl and ““ upon *e )iart °f *• s uS
yft£C?“0miC ftnaQdarin« and "trict administration which
provd “ °f thaL i,uport*nt Hdonn has nut been followed, as results
diSSeSdUmcouM?; ^ lished in 1890, at the time of the crisis which
they supplied to ouieklv refl^.^*[hUU,U Uj eerv% ln utlliz,nS the resources which
JS;ini,lmliv,. n«hi^ P papt'r "'"D"y “d *re °"MnS P-d«y lb™
ll,?t W "cent ihe
to 694 004 908 nam.P ^ “U 1 ithe AT^vnlme Republic in March. 1909, amounted
to 694,004,908 paper Pa*», equivalent to 285,561,11.5 gold pesos (1,427.905,575 francs).
REPORT DIRECTOR OF MINT.
103
By way of compensation the funds of convention were 25 500 000 .
(127,500.000 tam. on the m date, and thare cxi-tod o^d^h L™
CaT8 [9'°'uo-m' fanc,)>
From [here fipirw it rwulto that the paper circulation of the Argentine Republic
“ actually guaranteed by a stock of gold of 63.7* per cent of their t,>tal valuation
Although we may calculate by the preceding that their efforts have often been insuf¬
ficient, the later Argentine administrations are, however, preoccupied with reinstating
a normal circulation m the country. They must acknowledge the truth that the
task is not an easv one
The Caja ue Coxtimok.
[From the Eoonoinlil, London. October, 0, 1900 ]
The caja de conversion is the Spanish name of the Argentine con version treasury,
and it map interest some of the readers uf the Economist to be informed of the origin
and working of this imitation of the ireue department of the Hank of England. In
October, 1899, the amount of paper money in circulation was. in round numbers,
about $283,000,000. A few years previously, while Doctor Pellegrini was acting as
President of the Republic, the premium on gold was quoted one day on the Bolsa at
364 jN*r cent , that is to say, $464 in pa(>er had to be giveu in exchange for $100 in gold:
but from that date the premium began to fall, and the descent became more rapid
after the danger of war w ith Chile had disappeared, and in consequence of the influx
of gold caused by good harvests.
This rapid fall alarmed the stock owners and fanners, the debtor- who hud contracted
liabilitio in gold, the persons who w ere receiving salaries in gold, and the holders of
securities for gold, while the mass of the people who were paid for their services in
psper, and those to whom debts were owing in paper, and the holder* of paper securi¬
ties rejoiced at the anticipation of the appmacnine rise of paper money to its par
value. The retail shopkeeper* benefited ny the fall of the premium, a- a very long
time elapsed before they reduced the prices in paper which they hud raised to rover
the high premium Those who were interested in preventing the fall of th«* premium
on gold constituted the most influential clasw**, and therefore it was determined to
eetablifh a fixed rate for the conversion of japer into gold and vice versa
Accordingly a law. No. 3S71. was passed on October 31, 1899, for accomplishing
three objects, (1) the fixing of the convertible value of the paper dollar at 44 cents
S°ld; (2) the creation of the caja de conv ersion for receiving deposits in gold and giving
psper money in exchange for the tsune at the said rate, and, on the other hand, giving
K°ld (go long as any part of the deposits remained in the caja', in change for paper
money at the same rate of 44 cents gold for every dollar in paper; '3* the formation in
the Bank of the Nation of a fund fi*r the conversion (at the same rate at some future
Ume of the $283,000,000 paper money, which (except $50,000,000 i**ued for the capital
Al 13 _ * ’ , . . L..I I _ Kv tha* IKtflOll
of the Province of Buenos' Ayres) had rtopp«-d payment ami w* re «n imunrauou,
•od the liability for which issues had been assumed by the nation It h*d
gold from some of the provinca— the prey'd* »f bun* which ihev had ohuined-m
exihange for bond* given to them to be dejxr ited in the .Nan "nal Bank *1 .
85 per cent of the amount of ps|n r money i ued to them, but this odd h.u "
°D ^ Bol,a iu an inmlie attempt to stop the me of the n«ibilitv for
bond* were retunied to the nati »n in exchange fer us ademption *»f
J* ^currency. The nation did not revive any gold f.*r the bond* <*< %**?£
gtmmnty for the $50,oo0.(H)0 in notes iwsued to the National Bank, and ' *?*.
Ptovincoe gave promissory note*, which wen- never paid, for their g a _• . mjUDE1
nu‘ of 11 i*'r cent was arrived at by calculating the * JU^wEitS »«■
100^1 the eix month* preceding the date of the eonver-i * -» • j „f
2SS h*'« Wn 127.27 per .%-nt, cqimdenl. a- nearly a.- ■ I tb* W ^
fixed (Obriowhr it would have been raueh more ronvoment
olralalinn to fix the into at either 10 or *0 prtwtt . . , exchange
for L*nu' 8°W was deposited in the caja and it could be 1 acj thCP. was
not a JTTi i*1 consequence of a bad harvest, g°ld b^*™ p premium;
but?B j0lUr ,n th<‘ «ja. add gold had to be bought on the ,k,lfn uTe amount
in i>IJJi!neV1902' fbe influx of gold into the counter had ,M*up.and th 7 ‘ r 1(1 May
Of the h*** k** «oce varied considerably, attaining of October, there
the beginning of June and falling to its minimum in the beginning of
164
REPORT DIRECTOR OF MINT.
W never been a cessation of conversion at the above-mentioned rate This year the
*u«ck of gold in the raja has bwn increasing almo-t continuously; on January I it iras
only $126,000,000: to-day it i* close upon $173,000,000 ($172,950,011). On June 30
1908, it was a little over $120,000,000. On September 9, 1907. the amount was Hr I
363,300; on September 9. 1908, it wa« $120,«9,3»4. The large addition to the Wk
of cold m the last twelve month* must be attributed in part to the realisation of Irons
by the nation, by the municipality, and bv the Province of Buenos Ayres, and in pan
to the investment erf foreign capital in new banks, in industrial enterp ri**s. and in the
pun haw of national bonds and cvdulav
The sold in the <-aja does not belong to the nation; the law declares it to be a sacred
deisisit, which may be u-sd only for paying it on demand to those mho present paper
to be exchanged for it at the fixed rale 1 ^
vaioifnfinSmM “n- •!?•«••»» ^ ,be *WI“* **nM’d piper money of the nominal
lho,I* 19 *l*° ,n r,m,l*tioo *«■ old cunvnov to the amount of
f'JM.UUO.OUO, making t<«cth»*r a paper currency <rf more than $676,000,000. to which
must be added about $10,000,000 (erf paper \aluei in nickel and copper coin:-
The con wr:iun fund in the Bank of the N'atiou constitute* the only guarani v t be\ i>nd
^re^bihly <rf the nation . for the F.N3.000.00U in paper and the $10,000,000 >n
corns. The equivalent in gold at the fixed rate of th«-c two amounts i- $128,920 000
The amount of the fund i- now $28,000 ooo gold, and two law* < .W 4o6U and 4000
^ date -uh-4'i|ueni to the law 387 1 fixed $30,000,000 g* »Jd as the limit of the fund, as it
lhat thr •tnount w..uld l>e sufficient for maintaining the convertibility
rS*X2'' ^'Mpmranteed . when it should bede< ided to make it
lumih-’h °* &?**•}* bis budget propels for
not ,mU (whlrh li11 J^,b*b,.v be reached during the \wr « ill
S 2d ^ h/‘ PWP?W" J9’U0° “WpoW be included in the author¬
ised expend it uie <rf next veer for addition- to the fund
F,:rJr7^7^rUH? r? COOVW,“° funLd 10 be f«nn«"t the following source:
of the'u-lk J/lfc v imy<m ““P*?*1 »bich has- MDCO been eupnm*ed >: the profit*
o ih' Na.,,U’ Uow lo lh,‘ mcr«-<> of ‘I* capital and the formation
T*iBO*'*r ^^il Bank in liquidation, now received bv
Uu Dank of the Nation the |>r\co*d- of the ale of the Andine Railwav (not vet solJ
bu.du^by JkUpwlb ib.
auth'^ b> the law 3871 to uae the conversion fund fur
Ill l^Uncv lhe aniount •* lht* iund
euta ’’ which tmxJm 1 1* 111 lbe ***** then* appears an item of “foreign comvpoiid-
with’ this dnt^ biU*' °tC- Which i! VnnL>r,l
■sSS-WsiaBtfS ®B5sssnfifflsssis
lions will then ci-x-* and ^ 0mP,o> BK‘nl the latter in exchange opera-
ifflSa^ISl^iBSSpaVPs
SS-S 5SSS5&
anv mouth of this war -JiT.- £ju’000:00u' '«u,d being nduced to paper i in
foreign and national paper nu>nev ^<r^^«^u*0!ne^? V’*1? bug© amount ot
aaocutions, the wlwav *2.^ *^d “d M,vcr* auJ *be m.wtgage and loan
abo hold a View SIT durance, and other companies must
paper currency ^ *Ad' * ' ,hjt lhr
provinces it h^s at timi bi-t n ao eS^e th^ifc bl*C l" faCl* U‘ fc,mo of lbV
cartificauw of ind«btedn<M in ,• Kl!''«™menta have lssuitl bonds and
receiNod in pavment^Svi^ auwl^ to naUooal nou». which, being
Government dtVlar. d suchmia to ^md®0In^ at \*r The National
pitivinciw. and the quStifm^imt tx XS Ti Th* ~ b>
*i wi oeen decided, for the currency imitations were
REPORT DIRECTOR OP MINT.
165
withdrawn, the Hank of the Nation having increased the capital of its branches in the
provinces m general.
The stability of the Argentine monetary system depends upon the continuance of
the prosperity of the pastoral and agricultural industries, and upon the maintenance
of peace with the neighboring Republics. The latter condition is not likely to be dis¬
turbed, notwithstanding that the increase of the Brazilian navy has made it necessary
for the Argentine Republic to adopt adequate meauH of defense.
As regards the staple industries of this country, they are now spread over such an
immense area, which is being constantly enlarged, that the Republic may be con¬
sidered practically secure against such a general failure of production as to cause a
derangement of the monetary system by the necessary outflow of gold in satisfaction
of public and private obligations.
BOLIVIA.
Answers to interrogatories, 1908.
1. No gold was coined during 1908
2. During the year 1008 The Casa Nacional de Moneda of Potoei coined 719,171
kilograms fine silver, with a value of 2-1,881.50 bolivianos. Uy virtue of the prepara¬
tory measures for the gold standard the silver coinage was almost void.
3. The rasa de moneda (mint) did not effec t any eoinage for other countries.
4 and 5. The employment of gold and silver in the industrial arts is insignificant.
6. Thirty-five kilograms 496 grams of fine gold in nuggets, with a commercial value
of 59,225 bolivianos, were exported.
7. The figure of exportation of silver was 156,482 kilograms 34 grams, w’ith a value
of 8,058,092 bolivianos.
8 and 9. No American gold was imported.
10 and 11. The quantities of gold and silver extracted from the mines hnve been
noted in the answers Nos. G and 7.
12 and 13. There are no refineries in the country
14. Approximate stock of gold: Gold coins existed in the hanks on December 31,
1908, to the u mount of £507,845.
15 Approximate stock of silver: Silver coins, to December 31, 1908, 1,302,286 76
bolivianos.
16, 17, 18, and 19 The Government issues no i>aper money, the banks being the
only' ones authorized to emit bills. I’p to December 31, 1908, the banks had the
sum of 17,245,479 bolivianos in circulation To cover this emission they had on
hand a metallic existence of 6,922,695.21 bolivianos in sealed gold and silver
20. Actual currency of the country: The general circulation in 1908 was the fol-
Bul IV MIMIS.
la 5Jvcr LW* uh*‘l1, ul represents..
In bank ’bills
In nickel. .
(t.MS.OiJ fiO
l,3tt.'.2Si>.70
17 479.00
»,2.S77.W
Total circulation . . .
. . ZT..1&S, 705.93
Gold Standard.
[Translation. ]
Ismael Montes, President of the Republic.
166
REPORT DIRECTOR OF MINT.
Akt. 3 pie silver corns shill be of two kinds. 30 cenUvw with the weight of 4
grsms 50 centavos with the weight of 10 Fim*. at the standard in bothcas^ rt
bn«Mw. having a tolerance of 3 milligrams in weight and three ooe-thomnd’ '*
in nneneas.
A*t. 4. The nickel coins shall be of 5 and 10 centavos, with the weight of 2 nan*
50 centigram*, and 5 grarns resperuvely, and with the fineness standard; erf three-
foorths copper and ooe-fcxirth nickel. ;
f i coins; *? wrlJ « «k<we of nickel, that the present hr refers to
and their acceptance shall not be obligatory only up to the
vahie erf 12 *«Jivianc*50 centavo for tCefin* and 1 boliviano for tb4 aeeid
vhi<* **»n be presented for such pur¬
ge? for pounds sterling wuh the equivalent determined in the law of November 30.
wi^th icairne* "uivalei*^ ™ ******* circn**lk*1 ®ball be exchanged by the State
executive P°TO constitutional purposes.
Hail of Shroo? of the National Congress. La Par. November 5. 1908.
BEXEMCTO CrOTTIA.
. , Isaac Aranibab
Jose Cutisco,
.S'ouz/*- SecrtSa-y
Jose A. Xouui.
Deputy Secretary
Jruo A. Gmutu.
Deputy Seerttary
b^n published and approved as a law erf the Republic
Ihlace of the supreme governor in La Pax. December 31. 1908. P
I&EAl! ISMAEL MOVTES.
J Angel Dice de Medina
Is conformed to. MimiaUr of Ftmmmce nrf Industry
Cxstbo Roles,
ChufOjkcvii oj lkt Treasury.
Issce os Lecjll Coins
lsniael Mantes. President of the Republic.
weight. 31 ‘ JaH* **■"***• baa fixed new coodttioo* ft
“ «*»S««ice it ha* been trade
ixed by the ^ cotna^ ** well as for the nickel coins author-
be lawful mooe^ ^d'bht^r^vent^JL avHf0* °* “***! referred to in said law. shall
* <ht
a" l Th* aod 0 003 in finew*.
iormable to the law of Nevac!*** 24^ a*uU ** bke those in present use. ccn-
weirht of 2 grams 50 ceLti^ams and^ P>?cw of 5 and 10 centavos, with the
copper to 0*50 of nickeb^ * PBBP«trreiy, and the fineness of 0 750 of
lrti °bv*T* if national shieU with
•fh* nambeni and the year of 011 **** !WTW'* the value of the coin ta
tavre S^mtilimetevT^ a d“JQcter of 30 millimeter? and tW d 10 ces-
the XL**** th° 80 w 10
Akt 5. The governor ^tTStS2?ff 2* <'um8T 01 «*• old designs
CM" u — 11
REPORT DIRECTOR OF MINT.
167
The honorable minister of finance and industry remains in charge of the execution
and discharge of the present decree.
Given in the palace of the governor of La Paz, January 9, 1909.
Ismael Montes.
Angel Diez de Medina,
Minister of Finance and Industry.
Is complied with.
Castro Rojas,
Chief Official of the Treasury.
Nickel Coin.
| The minister has requested bv cable to Paris the issue of 1,000,000 bolivianos in
nickel coins, conformable to the law of the gold standard. .
The cost of the coinage of this coin in the two last issues was the following for every
100 kilograms:
Denomination.
Issue of
1907.
Issue of
1908.
Franca.
516. 05
570.05
Francs.
476.05
536.05
Exportation First Three Months op 1907-8.
Classification.
1907.
1908.
Kiiograma.
532,976
Ktloffrans.
L 173,676
22.07
Making the Exportation of Gold Free.
Ismael Montes, President of the Republic.
Inasmuch as the National Congress has sanctioned the followipg aw,
"SeTThe President is authorized to charge a duty on the exportation of gold
^bl^nZn^rtie President for
Hall of Sessions of the National Congress, La 1 az. Macario Pinilla.
Adolfo Ortega.
An Trigo Aciia,
A Senate Secretary.
Zenon C Oriab,
Deputy Secretary.
Gabino Pereira,
Deputy Secretary.
Therefore it is published and approved as 1908
Palace of the supreme governor m La Paz, D . Fl Montes.
a Diez de Medina,
UinUt«0f Finance and Ininetty
I,C°n,0rm0dt<> OnefO^of^ry.
Ismael Montes, President of the R o, Pfrcmber 15,
eith1 c.onfideration, that the President is ^ p^J^tion of gold C°in- !U'( ord,ng
eith<* to impose a charge or to declare free the cxp<
168
REPORT DIRECTOR OF MINT.
the necessities of the market; that the contraction of a loan and the establishment of
a new monetary standard imposes the adoption of liberating measures to maintain
the establishment of exchange upon London, decrees:
Article 1. After January 1, 1909, and upon a new ordering, the exportation of gold
coin is declared free.
Art. 2. The exporters shall show in the customs returns the amount of gold coin
which is taken out of the country, purely for statistical purposes.
The honorable minister of finance is charged with the execution of this d«*cree.
Given in the palace of the governor, of La Paz, December 31, 1908.
(Seal) Ismael Montes.
(Seal) Angel Diez de Medina,
Minister of Finance and Industry.
Is conformed to
Casto Rojas,
Chief Official of the Treasury.
Suspension op the Additional Customs Duty.
Ismael Montes, President of the Republic.
In consideration, that the law of December 31, last, which gave unlimited cancel-
latorv value to the pound sterling, converting the silver into auxiliary coin, has left
article 2 of the law of November 30, 190-1. referring to the payment oi 50 iht cent of
the customs duties Ln gold, with the additional charge of 5 per cent in case of making
said payment in other specie, without any object, decree*
Sole Article. The additional chaise of 5 per rent over the customs duties remains
without effect , having those paid in g«>ld in the proportion lixed by the law of Decem¬
ber 31. 1906, at the rate of 12.50 boli\iauo» per |>ound sterling, or Peruvian pound
t . e m»IiisU*r of finance and industrv is charged with the execution and
fulfilling of this decree.
Given in the palace of the governor, in la Pax, January 5, 1908.
Ismael Montes.
A \oKi Diez de Medina,
Is conformed to
Minister of Finance and Industry.
Casto Rojas,
Ck%ef Official of the Treasury
Fractional Notes.
Ismael Montes, President of the Republic.
In consideration that article 3 of the law of November 21. 1893, modifying that of
CtOlH^r 21?. l * ri ) ii •< f in n tmnnpo 1 u- >«> _ _ I. * • i « i * . \
Gt\cn in the palace of the governor, in La Pax, December 22, 1908
Ismael Montes.
M mister of Finance and Industry
Angel Diez de Medina,
Is conformed to
Castro Roja9,
Chief Official of the Treasury.
REPORT DIRECTOR OF MINT.
169
Available Bank Fundb.
Banks.
1907.
1MH.
Difference
in 1008.
Nation il .
Bolivian™
8in.owt.so
377. HrA 92
458, aw. w
.’•1,205 21
131.790 80
Bolirianoi.
078. HK 37
502.1 53. 82
470. 24A. 28
92, 504. 73
Bolivian™.
4 115. 504.51
4124 787.00
4 20. DO. 29
4 41.2*9 52
-131,709.89
ArcanUona .
Industrial . . .
Mercantile .
Agricultural . .
Total . .
1,842, 330. 91
4 210,072.33
Adoption of the Gold Standard.
(From Bulletin of the International Bureau of the American Republic*. March, 1000.)
The Republic of Bolivia has adopted the gold standard, in accordance with on net
of Congress, promulgated by President Ismoel Monte* on December ,11 , 1908. English
and Peruvian pounds, valtied at 127*0 bolivianos each, and half pounds, valued at 6.25
boliviano? eacn, will circulate in Bolivia and are unlimitod legal lender in tnuimction*
of nil kinds.
The President of the Republic will have coined and issued, us the needs of the nation
mav require, silver coin to the value of -1.000,000 boliviano* and nickel coin to that of
1,000,000 bolivianos. The silver coin will be in denominations of 50 and 20 cent pieces,
the former weighing 10 grams and the latter 4 grams, bolh ten-twelfths fine, with a
variation of 3 milligrams in weight and three-thousandths in fineness. 'Hie nickel
coins are to be of the denominations of 5 and 10 cent pieces, of a weight of 2 and 5 grams,
respectively, made of an alloy of three- fourths copper and one-fourth nickel. Roth the
silver and nickel denominations are subsidiary coins, the first being a legal tender up
to 12.50 bolivianos and the second up to 1 boliviano.
The Government will exchange English pounds for t h » -• subsidiary coin at the rato
provided for in the law of November 30, 1001, and the silver coin now in circulation
will be taken in exchange at the some rate
REDEMPTION OF MtmLATED BANK NOTE8.|
An executive decree of the President of Bolivia issued under date of December 22.
190s, provide* that the hank notes torn in halves, now in circulation, shall he redeemed
within a period of thirtv days from that date in order to avoid the uflixine of a 5-cont
stamp on each half of the bank notes that continue to circulate. Formerly, owing to
the luck of small change in some localities of the Republic, a custom grew up of divid¬
ing bank notes into two parts, and esj>ecially W'as this true of hunk notes of the denomi¬
nation of i boliviano These half hank notes tended to take the place of subsidiary
coin. In order to remedy this difficulty and to prevent the circulation of parts of bark
notes or bank notes in bad condition, the Government decided to require that a stamp
be affixed to all hank note* in circulation divided into halves after the date referred to.
To facilitate the withdrawal of these mutilated hank notes from circulation the Gov¬
ernment has supplied a nickel coinage sufficient to meet the demands for small denom¬
inations of money required for use in retail transactions
Finance and Commerce of Bolivia in 1908.
| From lluUrtln ot tho International t'nton of tbe American Republic*. July, 1000.J
# ***** *
Bolivia lias in offect adopted the pound sterling as the monetary basis, the boliviano
being valued at lttl.d. Since the year 1005 the pound sterling has been current at
this rate, now’ fixed by law Monetary reform made further progress in 190S through
another act of Congress which declared silver currency simply an adjunct of gold,
reserved to the Government the right to coin silver for circulation to tho extent oi
4,000.000 boliviano- The Government secured a loan of $2,500,000, the proceeds of
which were used in the payment of the internal debt, the installation of machinery in
the mint, and the erection of public buildings. A special sinking fund, amounting to
170
REPORT DIRECTOR OF MINT.
603,300 bolivianos annually, was created to meet the interest and amortization of the
bonds. Under decree of the Government the exportation of {fold coins free of duty
was permitted and a further decree fixed the proportion of customs duties payable in
cold, assessing the value of the Peruvian pound when tendered in settlement of these
duties at 12 50 bolivianos.
On December 31, 1008, the five principal banks of Bolivia had silver coin on hand
to the value of $516,600.
*******
BRAZIL.
American Embassy,
Petropolis, June /, 1909.
Answers to interrogatories , 1908 .
1. Gold coined during 1908:
Denomination.
Number
of pieces. Welght
Value.
20 mltrels .
Grams.
6,001 107. 028
Rrit.
120.020,000
10 mlireis .
G89 6,170
fi! 890,000
Total .
6,600 113,807
] 26, 910, 000
There was no recoinage.
2. Silver coined during 1908:
Denomination.
Number
of pieces.
Weight.
Value.
2 mlhvis . .
1 , 4 07, 000
Grams.
34 144 625
Reis.
3 414,000,000
1 milnds . .
1 b‘)i
ic, oj' r/\r
1 rii mu oflO
600 rols . . .
. Odd
2 489 810
240, 000. 000
Total .
-"3-^0000
rO 001 am
6 287 000.000
O*, dol. rfd
No silver recoined. No coinage executed at foreign mints.
3. There was no coinage executed in Brazil for foreign governments.
4 and 5. Amount of gold and silver, new and old, used in industrial arts during 190*:
o statistics.
6 and 7. Imports and exports of gold and silve.r during 1908:
Description.
Imports.
Exports.
Ookl:
Leaf for gilding and dentistry. . .
Paper mllrris
55.930
Paper milrets.
7,2i3.M»
13.777
Total . .
Sllrer:
Bullion .
65.939
2,368.972
590
7.227.586
. 2.7»
Total .
2,360,562
2.730
Note. Manufactured articles of gold and stiver exported, 74,000 mil rets, paper.
REPORT DIRECTOR OF MINT.
171
Official statistics do not give separately from paper currency the amount of specie
gold and silver, imported into Brazil. ’
8 and 9. Importation of United States currency is given without specifying the
character of same. There were no coins of the United States recoined by or deposited
in the Brazilian mint.
10 and 1 1 . About 4,157,367 grams of gold were produced by the mines of the country.
Silver, nothing.
12 and 13. No refineries in Brazil.
14 and 15. Approximate stock of gold and silver, coin and bullion, in the country
at the close of the calendar year 1908: No statistics.
16 and 17. Government notes outstanding at the end of 1908:
(а) Notes of the coixa de convereao (conversion office) outstanding, December 31,
1908, amounted to Rs. 89,386,850. Each of these notes is covered by an equivalent
amount of gold deposited in the caixa at the rate of 16,000 reis for £1, and is redeemable
upon presentation.
(б) Notes of the caixa dc amortizacao (amortization office) in circulation on
December 31, 1908, amounted to 638,564,427 reis. there having been a decrease, there¬
fore, during the year of 104,881,575 reis. This is inconvertible money, but on the
1st of May, 1909, it was declared in the President’s message that the fund for the
redemption of the paper money amounted to 5,861,348.834 reis.
18 and 19. There are no bant notes outstanding.
20. The actual currency of the country was paper money of the convertible and
nonconvertible types above mentioned. Silver was used to a somewhat greater
extent than during the previous year. As already stated, the convertible money is
redeemable at sight in gold, but is not to be found in very general circluation.
21. Premium on gold: The fixed legal value placed upon the gold mdrew ,18 27y >
and as the caixa de convereao has determined that 16 paper milreis will be given lor
every pound sterling, the paper milreis is valued at 15d. The convertible an
inconvertible milreis notes circulate on a basis of equality of values, lhe 1 R »
premium over paper is therefore represented by the difference and is gi\en o y
as 1 793
The President’s message referred to the exchange on ninety days sight drafts,
during 1908, in the following terms: , ' ,. _ ^ ni«nlnte
“During the past vear, as during a larger period of the preceding > . ^ an(j
fixity of the rates of exchange was maintained— 15^. in the Ban ‘ ^
15|d. in the foreign banks — giving as a resultant average 15|*j» rog ?
board of trade.”
The *
Brazil _ _
values through
The following table of official origin, may be of interest as 1 ^ency
ruzil has made during the past ten years in attaining comple . ]«ndon:
dues through the fixity of exchang^ upon ninety days sight drafts upon London
3 28
oil to M
189S .
1809.. .
1900.. ..
1901 .
1902 . .
1903 . .
1901.. ..
1905.. ..
190 G....
1907.. .. .
1908.. ..;
9A to 13
According to article 2, X\
.t nld dies are to be with-
22. Laws passed during 1908 affecting the currency. ^ 0|j 3iee are
of law No. 2035, of December 29, 1903, the silver coins of the old dies
drawn from circulation.
23. The mint issues no reports.
[Translation.]
Signed by the director of the mint of Brazil.
The Hon. Director of the Mint, Washington.
172
REPORT DIRECTOR OF MINT.
Law No. 1453, or December 30, 1905.
Art. 30. The silver coin? now coined in this country are of the following value,
weight, fineness, and diameter:
Denomination.
Weight.
Fineness.
Diameter
Gnmau*
it Z tauten.
2 cm rrts . . ..
. mom
son
a
i im
. wlodo
aw
a
sn rd<
. saw
9un
s
! - - — —
Sec 1. A tolerance of more or less in the weijrht of these coins is, for the 2.000 rris
1 decigram, for the 1,000 reb 5 centigrams, and for the 500 reb 25 milligram?; the
variation in the fineness, 2-thousandths.
Sec. 2. The coins d cm created in section 1 bear on the obverse the arm? of the
Republic surmounted by a Phrygian cap. the year of coinage encircled by the
inscription “Republic das Estados Unidoa do Brazil:” and on the revere, the
weight of each coin in Roman figures, their respective values and the inscriptMR
“Ordem e Progreso.”
Sec. 3. The amount of silver coins to be recehed nr j«aid out at the pul l ca'Q
offices. <w accepted in transactions between individuals *-hall be 20.000 reb ( 30 n ilret? .
except where especially requested (decree No. 625 of July 2>, 1S40, article 2 in c uu
of 2.000. 1.000. and 300 reb.
Sec 4 Coins of the finene» of 0 917 are to be demonetized and recoined, m
accordance with the dispenstions of article 6, section 1.
The regulations as to the coinage of the silver coins shall be according to article 4
of law No 10S3 of August 22, I860, indicating the amount of seigniorage to the govern-
ment, conforming to the rate of exchange and the price of silver.
Art. 31. The Government b authorized to pro«Wd with the coinage of silver tro*
the amount on hand in the mint and can Ufe the product of thb coinage through the
medium of credit operations to acquire more silver to continue the coinage, ur >ub-
stiiute for silver coin the Treasury notes? of 2.0IMJ, 1.000. and 500 reb
(Signed by the director of the mint of Brazil
BRITISH G LIANA
American Consular Service
Gvorgctotrn. VarrA 5, I9r9
An***rt to tnUrrogulorits, 190ft.
1 and 2 No gold or silver was coined or recoined during the Year, and no r« oi
of coins melted.
3. No coinage executed fur other governments.
4 and 5. There b no record kept of the Height of fine gold and fine silver u.-«-d 10
the indu>lriai arts; the amount, however, i- supposed to be verv small.
6. Imports of gold coin aggregated $4,800, and were from the United Kins?! 'tu
Import!: of bullion < raw gold' were 581 ounces, valued at $10,192. from French Guiana,
and were reexported. Then* were no imports of g,.ld ore.
No gold coin wa« expsirted. The export «»£ bullion .raw gold I was 73.085 nunoN
valued at $1,2*9,946, and wa? made to tne United Kingdom There were no exp***
of gold ore.
7. Import of silver coin were a.* follows:
United Kingdom....
United Stales .
tJOT «0
9.30
ToUL . . . . . . . . . . *1*
Imports of silver bullion:
Cnltad Ktaucdom . * °mT
United Stales. . I - ! I ‘ * I . T I . I * I ! I ; 1 1 II 1 1 ! ” ; * .
T*UL . . . . . . ' 11. U*
>4. <^l
REPORT DIRECTOR OF MINT.
173
No silver ore was imported.
The exports of silver coin were $187,200, and were made to the United Kingdom.
No silver ore was exported.
8. There were no imports of gold coin from the United State?
9. United State? gola coin deposited at mint and melted: None.
10 and 11. Gold produced from mines of the country was 73,039 ounces, equal to
2,290 kilograms, valued at $1,251,863 (average fineness, 920 to 930). No silver was
produced .
12 and 13. There are no refineries in British Guiana.
14 Approximate stock of gold coin in the country at the close of the calendar year
1908: About $10,000 in gold coin and Bank of England notes was the amount in hand
at end of 1908 in the two local banks. None in the treasury, and probably less than
$2,000 in circulation.
15. Approximate stock of silver coin in the country at the close of the calendar year
1908: About $400,000 in silver in local banks None in the treasury, and amount in
circulation unknown.
16 and 17. The government does not issue notes.
18 and 19. Bank notes outstanding at the end of 1908 were $619,548. i he note issue
of tho banks is covered to the extent of 25 per cent by means of securities lodged with
the government.
20. Actual currency of the country: Silver and paper
21. Gold is at a premium of 2 per cent Very little is used
22. No laws were passed during 1908 affecting the coinage, issue, or legal tender
character of the metallic or paper currency. nt
23. There is no mint in British Guiana. A copy of the rei>ort of the deportment of
lands and mines for the year 1907-8 will he forwarded when issued
Order is Council Approving Proclamation Dwbctino that th* Doubloon
shall Cease to be Legal Tender in the West India Colonies and British
Guiana.
| From thirty-ninth annual report ol tho deputy master and comptroller of tho mint, 1
At tho court at Buckingham Palace, the 4th day of June, 1908
Present: Tho King's Most Excellent Majesty incouoci^ m<| approvcd:
The following draft proclamation was this da\ read a ^ ^ PrrzRoY
by the king
A proclamation, directing that the doubloon shall m *« be legal tender in the West
India colonies.
Whereas by virtue of a proclamation of lieu- l>aU‘*Wajest> ^ amended by sec*
3d day of February, 1898, certain parts of the com g ’ ... :ca^joni« specified in the
tion two of the coinage act, 1891, were applied wit rojonv ot British Guiana)
proclamation to our West India colonies (including oui • coin8 coined in a for-
And whereas it is provided by the said proolama Nli<f proclamation, were by
eign country, whit h, at the date of the promuigati t0 * hich the said nroclama-
law current and a legal tender in any colony or _ directed, continue to be so cur*
tion extended should, until by pr^ lamationotherwu^au ^ ^ ^ herelofore;
rent and a legal tender at the same rate and upto , proclamation regulate a
And whereas under tho provisions so applied ;)r0J(.nt prerogative of ll*e^®,
matters relative to the coinage and the mint w ithin t rt.x or alter any prot la
which arc not provided for by the coinage act. 1870, anti n a
niation previously mude;
And whereas by % irtoe of a proclamation of throughout the 'i \ ^
t m 11th day of September. 1838, it was tho doubly shwld
^c?t India « olonio-« (including our colony of B ^ ^ valUe of 64 shillings
fulate and lx» received in payment as being India
cum»ui money of the United Kingdom ; lender in certain of oU.r pnlitl(»d
And whereas the doubloon has ceased to 'he «» c ()f ftU a( ( of that coloi \ ^ daled
coloim*, uamelv, in our colony of Bermuda jr . rluc of our prjK’lai -rt 0f
ft® Legal lender act, 1882, in the island of Jai f * Trinidad and Tobago by v
ihe 30lh dav of January, 1901, ami in our colony0*
°ur proclamation dated tho 1st day of June, iw ,
174
REPORT DIRECTOR OF MINT.
And whereas it in expedient that the doubloon should no longer be legal tender in
any of our West India colonies;
Now, therefore, we do hereby in pursuance of the said recited provisions and of all
other powers enabling us in this behalf by and with the advice of our privy council,
proclaim, direct, and ordain that the doubloon shall, as from the 1st day o/ August, 1908,
cease to be current or legal tender in anv of our West India colonies (including our col¬
ony of British Guiana) in which immediately before that date it is so current or legal
tender.
Given at our court at Buckingham Palace, this 4th day of June, in the year of our
Lord, 1908, and in the 8th year of our reign.
God save the King
The Strait8 Settlements (Coinage) Order, 1908.
[From thirty-ninth annual report of the deputy master and comptroller of the mint, London, 1908.]
At the court at Goodwood House, the 1st day of August, 1908.
Present; The King’s Most Excellent Majesty in council.
Whereas under the Straits Settlements act, 1866, and other powers enabling him in
that behalf, His Majesty has power to make laws for the peace, order, and good govern¬
ment of the colony of the Straits Settlements (in this order referred to as the colony);
And whereas Straits Settlements dollars issued on or before the 4th day of March,
1907, are of the weight and fineness specified in the schedule to the Straits Settlements
(coinage) order, 1903 (in this order referred to as the order of 1903), subject to the rem¬
edy therein specified, and Straits Settlements dollars issued after that date are of the
weight and fineness specified in the first schedule to the Straits Settlements (coinage)
order 1907 (in this order referred to as the order of 1907), subject to the remedy therein
specified ;
And whereas Straits Settlements 50-cent pieces, or half dollars, issued on or beiore
the said date are of the weight and fineness specified in the third schedule to the Straits
Settlements coinage order, 1895 (fn this order referred to as the order of 1895), subject
to the remedy specified in article 3 of that order, and Straits Settlements 50-cent pieces,
or half dollars, issued after the said date are of the weight and fineness specified in the
second schedule to the order of 1907, subject to the remedy therein specified ;
And whereas Straits Settlements dollars and Straits Settlements 50-cent pieces, or
half dollars, whether issued before or after the said date, are, bv virtue of the above-
mentioned orders and of the Straits Settlements (coinage) order 1900 (in this order re-
ferred to as the order of 1906), legal tender in the colony, and it is expedient that such
dollars and 50-cent pieces, or half dollars, issued on or before the said date should no
longer be legal tender in the colony;
Now therefore, His Majesty, by virtue of all powers vested in him in that behalf, is
pleased, by and with the advice of his privy council, to order, and it is herebv ordered,
as 101 own ’
1 1 The Straits Settlements dollar? and Straits Settlements 50-cent cent piece*, or half
arSi,Q1rSUed on,or .heforo thc day of March, 1907, shall as from the 1st day of Jao-
UV'rr{909’ ^asc to be current or legal tender in the colonv
■YqrfT ifS ah£f 1,0 on? wi,h the ^der of 1805, the order of 1903, the order
order°6io^d 1110 °rdCr °f 190<’ and n,ay be Clled M tho Straits Settlements (coinage)
Far 1**0 f 0 1.11?8 Majesty’B treasury and the Right Honorable the
SSuftg&S&tf principal ot ■» tu * • ">•
A. W FitzRoy
The Nigeria Coinage Order, 1908.
[From thirty-ninth annual report of the deputy master and oomptroller of the mint, London, 1908.]
At the court at Buckingham Palace, tho 19th day of October, 1908.
B Excellent Majesty in council
the 28th day of JulJTl&G U V If® °f JVa privy council, by order dated
y juij , ijog (in this order referred to as the order of 1906), made provision
REPORT DIRECTOR OF MINT.
175
respecting the currency of coins in His Majesty’s colony of soulhem N.gena and m
Ili' Majesty's protectorates of northern Nigeria and southern bJ , ^1°,
dated tie tith day of September, 1907 (in this order referred to as the order of 1J07),
made certain amendments in the order of 1900, , , .a- ,,rj„r
And whereas it appears to His Majesty to be desirable further to amend the order
Now, therefore. His Majesty, in pursuance, so far as relates to the said colony, of
the powers reserved to him by the letters patent referred to in T;”}
in pursuance, so far as relates Ui the said protectorates, of the ^
the foreign jurisdiction act, 1890, and fn either case, m
otherwise vested in him, is pleased, bv and with the advise of p > *
order, and it is hereby ordered, as follows: , . in ho mined
1. The standard weight of the subsidiary coins of pne-tenth of !% « L°® ^
in pursuance of the order of 1906 shall, instead of being the P _
first schedule of that order, be 30 grains., or l .944 mms. and the older ol sha 1 have
effect as though that weight were specified in that schedule as the standard wugnt
tho coin of one- tenth of a penny. icwm- (2) this order
2, (1) This order may be cited as the Nigeria coinage order 1*», tbu ^oroe
shall be read as part of the order of 1906, asamended by tho order of 1911,, ana
come into operation on the 19th day of Octoberf 1905. Ri u* Honourable
And the Fords commissioners of fei. jEjssty • ^Sl ^rXiWsmm m
the Earl of Crewe, K. G., one of His Majesty s principal secretaries oi
give the requisite directions herein accordingly. ^ FitzRoy.
Local. Proclamations Issued under the East Africa and Uganda Order
in Council, 1905.
(From thirty-ninth annual report ol the depoly manor mid comptroller of the mint, London, IMS.)
1. EAST AFRICA PROTECTORATE.
Proclamation.
In pursuance of the °^f°^e^ ffay<MSaXc? governor of the East Africa
(currency) order in council, 1905, I, J*"1®8 1 treasury and His Majesty’s secretary
protectorate, do hereby, direct that the schedule hereto shall
KKKe third schedule to the afore-
said order in council. j. jjAYks Sadler,
Governor.
Nairobi, April 8 , 1909.
Schedule.
Subsidiary coins of East Africa .
Portion of
Standard weight.
Remedy allowance.
rupee
tor which
tender.
Coin.'
Grains.
Grams.
NlcVel-bronxe or other metal or mixed
metal'
100.0
G. 480
(A weight not exceeding the
I weight of one piece In every
l 40 pieces.
0.05
Flve-oent piece .
45 0
2.010
.01
.005
Onc-cent piece - .
llalf-ccnt piece .
30.0
1 W4
Nairobi.
Dated this 8th day of April, 1909.
Governor.
176
REPORT DIRECTOR OF MINT.
2. Uganda Protectorate.
Proclamation.
In pursuance of the powers conferred upon me by the East Africa and Cgandi
(currency), order in council, 1905, I, Henry Hesketh Bell, governor of (he Uganda
protectorate, do hereby with the approval of the treasury and Ilia Majesty's secretary
of state for the colonies, by this my proclamation direct that the schedule’ hereto -hall
on and after the 15th day of April, 1909, be added to the third schedule to the afore¬
said order in council.
H. Heskfth Bell,
_ Governor.
Entebbe.
Dated this 7th day of April, 1909
Schedule.
Subsidiary coins of the L'ganda protectorate.
Portion of
rupee
for which
leader
Coin.
Standard weight
Remedy allowance
Groins.
Groms.
0 05
.01
.005
Nickel-bronze or other metal or mixed
metal:
Five-oent piece .
100.0
45.0
30 0
G -IN)
| 2. 916
MH4
(A weight not exceeding the
{ weight of one piece in every
| 40 pieces.
One-eent piece .
Ualf-urnt piece .
Entebbe
Dated this 7th day of April, 1909.
H.
Hesketh Bell,
Governor.
chile.
[From the Statist, London, Juno 5, 1909.]
aPPeare to bp au agitation springing up in Chile
SSIIff S“ °f V1 Pu>’monts’ wb“'b the President in his recent incaage
that th^oiK «ted h« wo(Vid1carr>’ It will be in the recollection of our readers
at the rate of i?I \ U ( hllo®n 8,a,ute book requiring resumption to be carried <>ut
beenacTumii lati rm Tf "T"* 10 dollar- and that Chilean Government has
Pr^iden^h,l . ae^H,^r» ^lEEEFt of carT>'inK tbt‘ 1*" into effect. The present
aiJd rince ho ~ V Zu Vle^t amongst other things, to resumption,
was a candid^e Th. ^ffice “gently repeated the pledges made while he
c flee ted if the Chilean 11 *1*1 doubt tbat resumption might ha\e been
Ltwe fever which Z.K rhft'1 5“ wall>* in Uxor ot but during the wild specu-
demand spran* no f!m» Ch° for aon,° >iare beforc tb* orash of 1907 so etreug a
gi\e way and^th^re wis™™ tbal lb<“ Government felt itself compelled h*
to ov^u“ of T fT of “convertible paper Partly owing
the great depression thaMma « l blta^d«*wn of the wild speculation in 190/ and
SuS^comfSTtioS xho Z "U(i °"r ?»ooe. and partly to the failure to renew the
somewhat from the woret ffevenv?! th? RnalI\ depreciated It has recovered
our money As the par oC eichanl/U u d°i.bu * onIy worth abuUt I0-< 0
has depreciated 41 7 per rcn*. 6d ’ 11 ?m11 be 800,1 lbat ,hc I^P0* nu'Iu^
be Strong opposition To an . be,D« **’ ,l » u°l surprising that there should
could be dZ if a l^Ste pmSn nf 7?uraw at lo ,ho 01 cou,T “
and cancele d That would «/md,!,n ° ,b<‘ outstanding paper money were called in
The fear that prices would Us jb° cbcubltb,n and wou,d l,,uer P00"*
Therefore we are by no means «uS!L^UTOdu "‘‘I”*11* °*°lt** strong opposition
to the dollar is exceedingly slighT l° hw thttt 1116 pwP(,et of ***uuu,,K at Is hd
consent to 'r^umpU^at ^ ™ajorily of the Chilean people would
resumption at Is Ul A ,while legal pir is Is. 6d .
e o«ii> iwo-unrds of the legal par. In favor of this proposal
REPORT DIRECTOR OF MINT.
177
it i? to bo borne in mind that even now the exchange is only about 10Jd.. which is
considerably under Is. Whether anything will be done under thee? circumstance*
remains to be seen There is a large amount of gold accumulated and resumption at
Is. no doubt could be carried out, but whether the people will consent to that remains
to be seen Resumption would be ineffectual unless some safeguards were set up
against further issue* of paper and sufficient gold were held in reserve to caah all paper
offered at all times Meanwhile the landed classes, whether agricultural or pastoral,
are <^uite satisfied with the existing state of things. They have been doing well even
during the depression, for their crops have been good, their flocks and herds have
prospered, ana they have sold at profitable prices. On the other hand, their lands,
speaking generally, are mortgaged, and they are able to pay off the mortgages in
depreciated paper At the present moment, for example, a man can pay off a mortgage
in paper nominally worth Is Od , but really worth only 10$d Consequently the
landed classes are opposed to change. On the other hand, those engaged in the nitrate
industry would probably welcome some arrangement that would promts;* a permanent
fixture of the value of the dollar. They are suffering at the present time not only
because of the fluctuations in exchauge, but because also of the breakdown of the
negotiations for continuing the combination in nitrate The best opinion is that
circumstances will compel the various companies to renew the combination; but for
the present the companies seem not inclined to arrange their differences, and as a result
the industry is disorganized .
Currency op Chile.
[From (he Rand-McNaUy Bankers' Monthly, December, 190».J
In transmitting the following translation of a law just published concerning the
conversion of the paper currency of Chile into gold or its equivalent, making the
paper peso worth 36 5 cents instead of 20 cents, its present value, Consul Alfred A.
Window, of Valparaiso, reports that it is yet too soon to judge the effect of the law on
general business; , „ . , 4
Whereas the National Congress has given its approval to the following project of law:
“Article 1 postpones the time for the conversion of the paper money from December
29, 1904, to January 1, 1915; but should the Chile peso reach the value of l/d (34
cents) and maintain this rate for a period of six months the President will have the
right to order the conversion to take effect within six mouths therefrom Ihe other
dates fixed by the same law are hereby postponed for a term of five >ears
“ The fund for the conversion, which, by virtue of the law in force, is devoted solely
to the redemption of the fiscal paper, shall go on increasing^ Said receipts shall come
from the following sources: Fivo hundred thousand pesos of 18d., which the secretary
of the treasury shall deposit monthly at the mint, taken from the customs receipts and
beginning January 10, 1910 The President may deposit these funds inEurojie or in
the United States, according to the conditions of the law of December -9, 1904 Ihe
fund shall be further augmented from the receipt* of the sale of saltpeter lands and
the sale of lands in the region of the Magellan straits, which shall take place accord¬
ing to the law, before January 1, 1915.
“ During thefiret semester (six months) of 1914, or before, of the conversion of the
fiscal paper is decreed as i>er this law the President of the Republic must transmit
to Chile the funds destined for the conversion
“Article 15 of the law of August 27, 1907, authorizing negotiations for a loan to the
amount of £4,500,000 (about $22,500,000). destined to complete the conversion fund,
is hereby set aside ”
COLOMBIA.
Banks, Banking, and Financial Conditions in the Republic op Colombia.
[From Bulletin of the International Human of the American Republics, August, 1909 1
i\msul-General Jav White, of Bogota, furnishes the following information concerning
the monetary conditions in Colombia and the means taken to increase American
^Pari^raoney, first issued in 1881, has displaced gold and silver in Colombia, except
small quantities of the latter, which are in circulation in certain district* remote from
ihe capital Although reliable data have not been obtained, it may bo concluded that
the present outstanding issue of paper money is over 700,000,000 pesos, equal to
19711—10 - 12
178
REPORT DIRECTOR OF MINT.
$7,000,000 gold; but some authorities place the amount as high as 1,000,000.000 peso*
equal to $10,000,000 gold.
The government mint, from August, 1906, to June 30, 1908, coined silver to the
amount of $1,017,580, all in 30-cent pieces, 0.835 fine. Some nickel coins in ], 2. and
5 cent pieces have also been put into circulation during the past two years. There
is some old silver coins in circulation, but the bankers do not consider the quantity
large, and say that it is impossible to give even an estimate of the amount.
No gold has been coined in Colombia in recent years, and yet the territory now com¬
prising the Republic has coined during the last'centurv over $100,000,0<)0 gold and
more than $10,000,000 silver Some foreign gold is held bv Colombian banks, and a
limited amount thereof is in circulation, as well as foreign silver and bills.
CURRENCY AND ITS FLUCTUATIONS.
Many business men consider the existing currency insufficient for the need? of
the country-. Owing to the lack of means of rapid communication and the fact that
the credit system is not well developer!, a considerable quantity- of the currency of
the country is constantly being carried from one point to another by messengers on
muleback, and these sums are not available for the ordinary- puri»o«es of local trade.
Exchange has steadily advanced from par— that is, 1 peso' equal to 9<i.50 cents gold,
in 1871, to 189 pesos equal to $1 gold, in October, 1902. Since January, 1907, exchange
has varied from 9,850 to 12,900 paper jx^soe equal to $100 gold, but the greater portion
of the time it has remained slightly above the present legal equivalent, 102 i>o«*
equal to $1 gold. '
DUTCH GUIANA.
American Consular Service.
Surinam, March H7, 1909.
Antvers to interrogatories, 1908.
gold and iriWer coined: Not applicable to this office
statistics are kepT °* ^ ^ *nd fino eUver usod in industrial arts during 1908 No
0. Imports and exports of gold during calendar year 1908:
Classification and country
Weight.
Value.
Weight.
Coin . .
Oranu.
$200.00
Grams.
Raw gold . .
To NeUierlands .
To England . * .
To France . ..... . .
To United States...
206.649T
ii5,ioaoo i
i’iis’ai
90,603.5
144.582
14.083.5
Imports.
Export*.
205,510.8 115. 108. 00 1,430,500
52. 071- «
79. 23U80
7.715-00
7X3, 946. »
Note. — Out of the cfuantltv
;H'*ch Oman*. 20X.32I grams l
!i Guiana to Franco.
Imports and osporta of silver during calendar year 1908:
grams imported from French Guiana 10
Netherlands, and 320 grams import«l from
ClassiflcuUon.
Import*. Exports
Coin . . . ~ ~
Raw silver . $2 400 40 $07, 011 00
_ . 132. 59
th7c“om^t8h^dUline the year 1908 «“ N'°
REPORT DIRECTOR OF MINT.
179
12 and 13. There are no refineries in this colony. .
14 and 15. Approximate stock of gold and silver com and bullion in the colony nt
the close of the calendar year 1908: There is no public treasury here; such government
funds as are not in the Surinam Hank being held by the colonial jwymaster (Bctaal-
meester ) and from whom no statistics are obtainable. The Surinam Hank is the actual
repository for the colonial government. The stock of gold and silver in the Surinam
Bank at the close of the year was as follows
... $(18,637.90
Gold coin . 1ST JU2.82
Silver coin . None.
Bullion .
16 17 18. and 19. The government of thia colony does not issue notea.
of bank notes outstanding at the end oi the year 1908 was $436,950 jjj®
Surinam Hank). The amount of bank notes outsUnding at the end rtf tho >tar 1908
not covered by legal tender gold and silver coin or bullion was $1*5,888.
*0 The cunenrv of this colony is the silver coma of the Netherlands mint and 1 U e
rnper 113 by the Surinam Hank The latter are redeemable in spec ie on
^IVmium on gold: The Surinam Bank pays for American gold ^guilders for
each dX and lor^rittsh gold 12 guilder. ($4 80, pjrbng^h pound sterling.
•>•> No law's were liasscd during 1908, affec ting coinage, etc
S’. There ?s no mK;Xre. noTi* there a report of the department of m.nes issued.
Paramaribo. March W, 1908.
ECUADOR.
American' Consular Service,
Guayaquil, May 1, 1909.
„4nw*r* lo t n (rrrogatorics, 1908.
jis ~ ssirf
‘^The «“uri>t u( #ne >ucd in (h0 induatrki «, ca.in..ted to be 500 ounce.
to be 4.000 ounce,
W 6il.ndT import 'end export of gold end eilvet during the celeuder you, 1908.^
Imports. Export#.
CluKdOcation *ud country.
Gold coin:
United Stales .
Great Britain. . .
France. .
Peru.
Total . • .
Gold bulUon
United State* .
Gold on* (cy-inlde precipitate-):
United State...
United State* “sweeps -
Gold dust
Uni»*sl State*
German)'.
France . .
Total . .
Silver coin:
France •
Silver bullion
France
United SUl ea
Total .
Weight. Value. Weight. Value.
A'lfapramj.
83.500
000. 1M
KilofrtmJ
$50,000 .
(05 000 .....
$1,100,000
300.000
250
3W.»W
’ 256.150’ I* .
1478*54
Ml. ISO . -
1,400 250
38ft. 558
176.724
121,273
43.475
11,276
1 4cai
8.255
165.67*
ISO
410
180
REPORT DIRECTOR OF MINT.
8 and 9. The total import of United States gold coin was 83.500 kilogram?; value
$50,000.
10 and 11. The weight of the gold bullion produced by the minos of the country
was 386.558 kilograms, valued at:
Total.
1:6,7*
The weight of the cyanide precipitates produced was 11.839 kilogram?, valued at:
Gold . tiu £
Stiver . . . . .
Total . . , . . 121. Si
11 Sweeps” from the Zarurna mines, 1.837 kilograms, valued at:
41. CJ
The value of the gold dust produced bv the mines of the country woe FJ0.931
There are no silver mines in Ecuador that are being worked.
12 and 13. There are no refineries in Ecuador.
14. The stock of gold coin and bullion in the country at the close of 190b
In public trrjwurie* . .
In banka, about. . . . . . .
In circulation . . . . . " | | ) ’ ’
Total . . 2.34J0®
Nos*-
$1. MO®
16. The stock of silver coin and bulliou in the country' at the close of 190b
In public treusurlas.
In banka, about _
In circulation .
Noo*-
300.000
Total.
. 255.000
16 and 17. — No government notes are issued. ,
18 and 19. The amount of bank notes outstanding at the close of 1908 was estimated
to be $3,725,000.
The amount of bonk notes outstanding not covered by legal tender gold and silver
co™ a5^ bulliou ut the clo»® of 1908 was estimated to be $2,000,000.
20. The actual currency of the country was bank notes, convertible on presenta¬
tion at the bank. But littlo gold was in circulation and must of the silver was
tional currency. Gold and silver are both hoarded bv many of the inhabitant* of the
interior. 1 }
21. National gold is not at a premium.
22. No laws were pa»ed during the year 1908 affecting thecoinago, iwuo. or legal-
tender character of the metallic or paper currency.
23. Ecuador has no mint, and consequently no report is published on the subject.
There is no special deportment of mines.
PERU.
Answers to interrogator its, 190S.
1. Gold coined during the calendar year 1908;
In Peruvian pounds . .
In Peruvian hall |>ounds ...
Total...... .
Tho gold which entered tho mint for coinage in
grams, in the following form-
. ooo
. mmo**®0
. "lM.TUo.OW
1908 amounted to 1,088 354 kilo-
Oold lor cclnifx . .
Gold In various lorslgn coins .
Gold In old metal .
Kllopam*
SST.UsvXXj
INJ.74.5fOO
Ol.iZi .40
REPORT DIRECTOR OF MINT.
181
2. Silver coined during the calendar year 1908:
Hold
Ilaif Kiln
Fifth •ote'
Tenth told . .
Twentieth *oln
Total .
I tenant Inal loo
Nam tier
of pfcoea
Vain*.
30.111
MO, 01 4
Mil, (04
»». 044
Soltt
iSi.auuj
15. OM 00
112,003.00
Ml.dU 40
JO.OOB 20
314, 120. 00
Also 72,673 soles of worn fractional coins have been converted into 26,346 hall
soles, value 12,673 soles
The weight of silver bars which entered the mint for coinage in 1906 amounted to
393.001 kilograms
3. No money coined for other Governments during the year 1908.
« • * • » * *
9. During 1908 there were 91,400.600 kilograms of American coins melted down
for the coinage of Peruvian pounds.
20. The only money in circulation in 1908 has been gold, silver, and copper.
22. No laws affecting the currency have been pawed in 1908.
23. No report on operation* of the mint ha* been publi*hcd during the year
Financb amo .Commerce or Pauu in 1908.
(From Bulletin of the International Union of the American Republics, Jul>, 1M» J
The bank balances on June 30, 1908, showed total asset* of 6,920,179 Peruvian
pound* as compared with 0,161,597 Peruvian pound* a year previous. During the
twelve month* 366 burs of gold bullion, valued at 222,286 Peruvian pound* were
received at the mint, and gold coin* to the value of 214,00-1 Peruvian pounds i**ued.
From November, 1906, to March 30, 1908, the Government purchased silver bullion
valued at 114,167 Peruvian pounds and coined silver to the value of 104,060 Peru¬
vian pound* Coined gold was imported during 1907 to the amount of 580,013 Pe¬
ruvian pounds, and stock companies represenied a total investment of 2,081,284
Peruvian pound*
URUGUAY.
Nickel Coinage Provided Fob.
IFroinjniilletln of tbe International Union of the American Republic*, October. 1000 )
The “Diurio Oficial” for July 23, 1909, publi*he* a law of the Uruguayan Republic
providing for the ooinago of $500,000 worth of nickel money.
The work i* to be effected in a *tute (official) mint in the following proportional
*260 000 in 6-cent pieces (6,000,000 pieces); $200,000 in 2-cent pieces (10,000,000
pieces), and $60,000 in 1-ccnt pieces (6,000,000 pieces). Tenders for the work are
to bo invited .
VENEZUELA.
( Translation.)
United States or Venezuela,
Administration or Public Credit,
Section of Statisticb and Public Lands,
Caraau, April 5, 1909.
To the Honorable Minuter of Foreign llelalinns:
In roply to your courteous note of March 31 last paseod, given to you in succession
for you to communicate to the excellent *ir envoy extraordinary and minister pleni-
182
WV.PORT DIRECTOR OF MINT.
potentiary of the United States of America, the statistical data pertaining to the
interrogatory circular which accompanied your aforesaid note, 1 have to pive notice
that the questions which have not been answered refer to affairs which are not
under the Jurisdiction of tho office in my charge, which has not yet been established
in the statistical organization of our general administration.
Gold and Silver Exported to Germany, United States op America. France,
and England.
n—MiRllia
Welftht.
Value
JTiXoprawut
. 4V4 219
Baliutn.
l.tM.UASS
Gold coin . ... .
66 SOM
36.030
ltc.vixoo
jo, im. no
Old and broken jjoli and direr .... . .
. . . 24. «K)
31.230 00
Silver batllon . . .
. 14 4U)
3, *00. 00
Silver arlictm . . . .
. . 7.500
650.00
Total . .
. (33.309
J.340.502.M
Importation During 1908.
-
UkwsirratioQ and origin
W el tht.
Value
Oald coin—
From 1a Gualra . .
From Maracaibo . . . ^
Ktior*ts*
m mo
UX500
Boltoin.
467. ll«
354,000
Total .
.. .. 3a W0
722, 016
On December 31, 1908, the Bank of Venezuela had in its coffers —
Odd coin _ .
silver Cjln
Notes iu rtn illation .
Notns on deposit In thdr eoTcrs
RuUran.
1 ac,‘Vin.ffi
2. tjo r,c ffl
•* no
V 7(10 00
On the same date the Bank of Caracas held -
Stuck of zdd
Stock of %il»nr _
Stock of djica
NoU*v In circulation . .
The monetary circulation of Caracas is estimated at 10,000,000 bolivars.
God and the Confederation.
m»lh art.
K-’.J
l.n*. 7lv'2S
x I mUlUO
479.
(Signed) J. J. Hkrera Toro.
EUROPE.
AUSTRIA-IIUNGARY.
Austria.
Jruurr* to in trrroif atoms, 1908.
at ViiSj^aTfoUowi 5 W 1908 K°ld coilw Wi re **nick the royal and imperial mint
rHoo-niniiti.m.
100-kroii««n ptorns
30-kronen j.W v
10-kronou plonv * . .
Quadruple d-a-aU
Ptecoj
Value
14. TIN
n*,34r.
664,02-'
JToa/s
I.47I.MJR2
3.7«i..WlS®
JtKPORT DIRECTOR OF MINT.
188
For the above coinage won* used beside* gold bars, etc.: Gold coins of donnaUc
i oil iagr, 2,280.1637 crude kilograms, equivalent to 2,180.1140 kilogram# line, gold
coin* «f foreign coinage, tiM.ftXfifi crude kilograms, equivalent to 604 2830 kilograms
file
2 The coinage of allvor at the royal and imperial mint at Vienna for the calendar
year 1908 was na follows:
Deiioiulliitllon
Wrowil plft* ra . .
l-k/oiii-n (ilma
la* van Him UiaJnr*
I laem Vatu*
Krtnun
N,a»,7fln 3/1,4411.900
4, TW.IW 4 71*4 Wrj
9,/JbJlW . ......
K Itojcmai*,
fin* silverr
7'., HU ir»
No value ia given for the Ixrvantinc dollar*, wince a* trade toina they posse* no
constant value,
For this silver coinage were employed, beside* liar silver: Silver coins of domestic
coinage, 199,004 307 crude kihignuns, equivalent to 124,802.826 kilograms fine, silver
coins of foreign coinage, 499.102 crude kilograms, equivalent to 300.689 kilograms fine.
3, The royal and imperial mint at Vienna in 1908 struck for the Government of
Montenegro the following coins
lK>ii'*mliiatlnii
W sight
I'urs nlcVsl Kifoommt
JOpnirt |,ln,«a 400, 0HU I m .70
KVparo nlsrm. ~'o. onu 741.895
lloiio.i
’.‘•pnru j*lari*a -VU 000 *3J 191
I and ft. The domestic consumption of the iirtciou* motel* in the indust ri-'w tan be
inferred from the gold and silver submitted for slauipiug, which during 1908 was us
follows:
(a) UOLI>.
rtassiltratlao ^IJT, J ijh, rtnmmn
A" i/n/f ,i m » Ki'afritn* 77oi«rn,»i.
Ilitninsllr folil warw 7. .*17 171 4,K« IM VI 84
I luiusi l It rilnlsi' wan* 0»s guilt In rs. kotieil a* 1 9 js»r it’ II I of Ihn
lofnl *nf*lil of 1*4 M4 Hl.wrmiui 4 971
I ionic. 1 1 fins i il'l ti^nl for Im* slliftxl pun* IZ-o«nit an* t Os urn I
iiml for m'l am* i>il ls.| uln* • I ' s*
MM 1
hi regard to oilier iisioi of flue gold in the industries m the your 1908 ( especially id
the galvanic gilding} there an* no data at hand lit the last three years the toiisumi*-
tlnn ,,f gold wus us follows 118)6, i*H7 ft4« kilograms of fine gold 1900, 583 901 kilo¬
grams of fine gold ; 1907.662.09K kill .gram* of fine gold.
According i*> the uvorago of the three years, us slated above, the < oiisumption of
Slid In industries other than before specified would ainount to <HW 170 kilograms of
MgnldiBUW ,„*U.V««.
(‘liunifli utioii.
liuniMii*' •llmrworp
*tl\w mini
is) Fur*
9) Half |>urr
«•) Qunrlrr pun* .
Hroas I Klim _
watch l waisin. Flaanasi.
A'IImtim. kiloffmt TMumm Hd/IU.
IMI.I4U<M» 47. ttj; SCO 797 014
IS
1. no
Total.
4U, 747. M4
184
REPORT DIRECTOR OF MINT.
In relation to the consumption of tilver in the industries other than those above
me ntioned no data are yet at hand . In the last three years the consumption of silver
in these industries has been as follows: 1905, 8,815.148 kilograms of fine silver; 1906.
10,688.920 kilograms of fine silver; 1907, 12,647.065 kilograms of fine silver.
According to the average consumption of these three years, that of 1908 should
figure up to 10,717.044 kilograms of fine silver. Besides, the silver emploved as alloy
in gold wares, being on the average 10 per cent of the full weight, would amount to
726.717 kilograms of fine silver, as estimated.
According to past experience in the consumption of the precious metals in the
industries, old material formed 27 per cent of the total in gold and 15 per cent in silver.
The results for 1908 may therefore be represented as follows:
Gold:
New material .
Old material .
The gold thus used consisted of—
Coins _ _ _
Alloyed gold .
Gold scrap .
Fine gold .
Silver;
New material .
Old material .
The silver thus used consisted of
Coins .
Alloyed silver .
Silver scrap .
Fine silver .
Kilograms, fine.
. 3,550.557
. 1,313.220
Per cent.
. 63.0
. 23.0
. 4.33
. 9.67
Kilograms fine.
. 52,012.584
.... 9, 178.091
Percent
. 0. 99
13.08
2.64
. 83.29
6. The imports and export* of gold into and from Austria- Hungary, by customs
department*, for the year 1908 amounted to:
Imports.
Exports.
Classification.
Gold coins .
Gold in crude hars and scrap.
Gold ore and gold-bearing quartz.
Total value .
Crude r„_. Crude
kilograms, towns. kilograms.
12.830
12.061
34, 786. 018
35, 103 115
21.486
0.117
612.600
09,889.133 .
59, 3SS. 645
349.050
126.808
59, 864. .503
. The above total weights arc distributed according to the countries of origin and de *
tination, as follows.
Classification and country.
Imports. Exports.
COLD. Crude
German Empire.. . fci/o0rcnii r.
Switzerland.. . . ...i . . 3*20J
Italy . . . .
France. . . . . .
Great Britain . .
Russia. . . .
Itoumania .
Scrvia . . . _ ... . . . [ .
Hamburg . . . . .
Bremen. . . . . .
Bulgaria . . J1?
Montenegro . ”!!!!!!!!!"!! . CO
3,203
7
450
4,884
10
49
1,004
1,742
Crude
ktloaramt.
5,187
592
1,015
869
558
94
556
1,611
210
7,782
174
836
170
isas, possessions In the Mediterranean' . . . .
Belgium . . . -
Green* . .. . . L
I’nited States ol America . " " . '
Denmark ... . . . .
British India . . 1
Tripoli . . . . ,
Canada . . . — .
British Australia . . . I .
china . ;.*..**.'.*;;.*.**** . 2
Total
37
18
583
4
12,830
21,486
REPORT DIRECTOR OF MINT.
185
Crude bars and wrap.
German Empire. .
Italy
France
Great Britain .
Russia
Koumaiiia
Servia.
Bulrarl
Turkey
Classification and country,
o old — continued .
rarla
rkey.
Greece .
(sDHln
British ixmesslons In the Mediterranean
Total .
German Empire
Imports
Exports
Crude
Crude
kilogram*
kilogram*.
10.850
27
13
8
5
78
1,010
5
113
. . i
28
24
12
1
. 2
1
12,001
117
612,600
7. The import* and export* of silver into and from Austria-Hungary, by customs
department*, f«>r the year 190K amounted to:
Exports.
Crude
kilograms
Imports.
Crowns
Silver coin*.
Silver In crude bars and scrap.
Silver ore ami silver-bearing quartx.
4.030
Uti. 780
530. 2W)
9 . 70*. 227
Crude
kilogram-'*
4.'i 250
8. 070
V. TOO
1U.23K.487
3, *50. 080
S7S.808
12 672
4.748 ICO
Total v nine .
The above gro* weight* are dia.ributod according to eountric of origin and de-fi-
nation, a* follows:
Import*. Exports
Classification ami country.
Coins:
German Empire .
Italy ...
Switzerland
France
Great Britain
Russia
Hamburg...
Bremen .
Montenegro . .
Uoumanla. .
Bervia . .
Netherlands .
Turkey .
Belgium.. . .
British India
European possessions tu Alriou
fSJSlt ::::::.
Crude
kilogram*
2,(UU
(10
Crude
kilograms
7.780
f’>10
450
400
Total .
Crude bars and scrap:
tier man Empire
Switzerland .
Italy .
Franco
Great Britain .
Montenegro
Bervia .
Turkey .
Netherlands .
Uouiuunl t . . .
It main .
Kjm>‘ .
Hamburg
Silver ore anti si lver- bearing quurti
German Empire
20
440
jao
2.330
tc,
13,900
4 2U0
1.910
500
4,(00
45,250
08,000
280
6.730
100
27,040
10
30
100
2 100
600
(4)
X'
50
74)
230
30
10
00 7N>
8,670
186
REPORT DIRECTOR OF MINT.
8. No guld cuius were imported from the United States in the year 1908.
9. In the year 1908 the royal and imperial mint at Vienna received and melted
14,881 eagle coins of the United Staten, of the weight of 248.5086 crude kilograms,
equivalent to 223.6529 kilogruniH fine.
10-13. The production of gold and silver from domestic mines was as follows:
Fine gold.
Fine silver
llow obtained.
Weight.
Value.
Weight.
Value.
From washing . .
Kilogram*
55.209
cyoren*.
156,211
Kilogram*.
Cron n*
From amalgamation . .
From leaching .
133.041
43S.0U9
65.7H4
5,542
12. 416
39.602
H. 097
501
From smelting . . .
5.875
18,484
3W.7M721
3.306,935
Total . ... . . .
307.501
a 652,366
39,857.502
•*3,403.068
o Besides, then* was produced from Reid and stiver-hearing slltnes and com>er matte 8.0U1*> kilograms of
fine gold of the value of 30.K54 crowns and 3,341 IS kilograms of One silver of trie value of JUO.iCffl crowns.
The gold and silver production of Hungary in not included iu the above.
14. The stock of gold in the Bank of Austria-Hungary December 31, 1908, amounted
to 1.182,372,278 crowns, 48 heller, in gold coins of the crown standard: and iu gold
bars, foreign gold coins, and gold trade coins, about 3,278 crowns.
Hold coins in the imperial treasury and offices December 31, 1908. amounted to
2.419,170 crowns, 26 heller.
Therefore, on the basis of the date given, it is shown that the stock on December
31, 1908, exclusive of the stock in the Roval Hungarian treasury, was 1, 184*791 ,448
crowns, 74 heller.
The stock of gold coins and bars in other kingdoms and countries represented by the
Reichsrath approximates from 250,000,000 to 300,000,000 crowns.
15. The amount of domestic silver coins — that is, the 1-gulden pieces — is estimated
at 2vS8.000.000 crowns for the Austria -Hungarian monarchy, of this amount there
were on hand, December 31, 1908, in the Austria- Hungarian Bank (the main bank at
\ ienna and Austrian brunches), 238.066.0J0 crowns; in the state treasuries and
offices, 503.614 crowns, making a total of 238,569,654 crowns
The stock of 5-crown pieces (of which 72,204,000 crowns were coined to the end of
December, 1906) of Austrian and Hungarian tvpcs, on December 31, 1908, was as
follows .
Crowns
Inllv A iLstrlttii-lIumrurlun Bank . 3 044,420
In tin* Mnt*» tivaAiirim amt offln* . ... . ’<07,740
Total . . . . 3. 452, 100
l p to the cud of 1908 a contingent of 1 10,000,000 crowns in 1-orown pieces were
coined, m accordance with the decree of August 2, 1892.
^ °( 1-crown piece* of Austrian-Hungarian t\i>e on hand December 31.
1908, was as follows: *
In thi* Austrian- 1 1 ungunun Bank.
In l ho state inwurtH un<l ofDcn.
Total .
Crowns.
. 4, 33i*,241
. . 902. 100
.77^.341
t, l! in of government note* in accordanc e with the law of
L n ( *1,,ch ?°- 1 »). "as completed by August 31. 1907.
to 27ll2?007 050 *h° n0l<* lwd b> the Austrian-Hungarii Bank amounted
TU° SlOCk °f in lho Austrian.Hungarian Bank on December 31,
Hold coins and lairs
Notc.\ and bills pa> al»l« In Koid
Current silver and fractional coin*.
Total .
Crowits
1,182. 372.27S. 48
oo.oon,cr«» oo
2U3.4M.rtC 19
. 1.535.785. 946
REPORT DIRECTOR OF MINT.
187
The AuBtmn-nungHrian buuk-note Lvueof 577,121,109 33 crowns, in excess of the
value of their stocks of metal, was covered by negotiable securities.
20. The actual currency of the country consists of the 100, 20 and 10 crown gold
pieces, the current silver gulden pieces of Austrian Bt^^ardandfracticmal < omsof
the crown standard, (a) The 5-crown and 1-crown pifeew of silver (ft) the 20-heller
and 10-heller pieces of nickel, and (c) the bronre 2-heller and 1-heller pieces, and
paper money (bank notes) of 10, 20, 50, 100, and 1,000 crowns. . .
P To the end of December, 1908, the Austrian -Hungarian > Bank had pu -into ^jrcuUt-
tion 214,594,400 crowns of domestic gold coins, exclusive of the amount *bich return
^2?° The exchange value of sight drafts on Ixmdon, Berlin, and Paris, at the A ienna
Bourse in 1908, was as follows.
Average.
(Crowns).
Maximum.
Months. Crowns
London (tori pound sterling). 239 921 January IS
Berlin (lor 100 marks) . 11 j
Paris (tor 100 francs) . 4026
March 20, 27. 28.
January < .
Minimum.
Months. C
241 175 August 24. 25, 20, 2» 200
November JO...
August 10, 11, 12.
19, and 20.
117 025
96.125
A comi-ariK-n of the arithmetic! meant, of the .“Sfe
AlSE« (mm the, .nance ■£»« l£t22SSt!S&.
Cf r”&n, VS.”tS,t 13, IMS (Keichr-Ciccla-
Blau. No. 107), in regard to the coinage $ Ai^US^SoSTKeicbs-Geselr-Blatt. No.
4> ^rS°m U.'e coinapc o"T£l jubiS (told coin o, 100 crown, o, Adrian
“'^.“hc min, war publiehed for 1908
Hungary.
[Translation 1
Ansners to interrogatories, 190*.
} There were coined (gold) in the year 1908
Denomination.
100-crown .
20-crown .
10-crown . .
Total .
There were recoined:
20-crown plocea . .
10-crown pieces .
Pieces
Value.
Croton.
13.65b
I,386,b00
138,484
2,700,080
508.081
5,080,810
CGI, 321
0,245,090
188
fcLPOSX DULLcTOE OF MISI.
Far the enrage of goid ptecea there were eaptowi
2. Sflw pieces were
tr712JM> croro
Sflw pierce withdrawn frta
pieces sad 3.404 1-oti
S«
f *• eiccrned tor ocher eowaarct* den
4 to employed
^eslkmad The Wkwiiy artacica were dehwed lx «tj
na bweu fcr the -caapear of aetab dcra* the cabal
dvaiMg 1900 a fallen. a-crom pierce to the rolve or
Wlot! 347 5<znm
e employed m the abrre-
*19».
dacha! arte, ao exact data
■pis; at the Renal Hop-
sJritnr IMtM Uk*““ 0-1 *■* t**4- «■* 11.1» blcpux rf
, 10 ^ “I"? “d «*)>■"* * *«“ Md 4«ns* !*►.
* •PeQtl report ai the Hnrsiiaa central ^Kifil board ■ a iaOevs
^*FotT* 150 Exxmrra or Gou ax© Sarn rvro x\ d rata
flnKUT i
1*9**
««ga.
JUmta.
tma
2 TJC.«B
231*
Lt* *
rrmra
2 '» *
2 rata
2 rmat
13l«
ITttS
::a«
2.7m «
----- . 2.rm a
"i» 2. new
s.rmw
2-rm«
2.rme
C*mr» ].mr
. xrm«
ina«
•era* xfm«
— 2.710. «
1
>4
14*2 31
».«*►
E42»
REPORT DIRECTOR OF MINT.
189
Imports and Exports of Gold and Silver into and prom Hungary during tiie
year 1908— Continued.
Imports.
Exports.
Value
per kilo- Weight
pram.
Croicns. Kilogram*
04.00 2
Classification and country.
Gold and silver scrap (xneltedj:
Austria...
Gennany
Total
Bars, plate, etc., gold and plati¬
num-
1 Austria . . ... 2. tWO. 00
Bosnia.. . . 2,000.00
Gennany . 3.200.00
France ' . . . . 3.2un.<*>
Roumunu . 3,200.00
European Turkey . 3,200. 00
Total
Unrefined silver.
Austria
Bosnia
Germany
Sen la.
* Bulgaria . . .
European Turkey . 102.00
Montenegro . . . . . ...I 102.00 |...
Total.
Total
Bats, plate, etc. , silver:
Austria ....
Bosnia..
Gmnanv ,
Roumarita
Bulgaria.
Total
Value
per kilo- Weight,
gram
lth regard to the remelting of Umted Smt^gold ^ during 1908, 9 i
«t»led under No. 1, 15 American 20-dollar P***;. ^during 1907.
whtch were imported into the country during 1 »0, a mjncw during 190S-
10. 11, 12, and 13. There were produced from Hungarian m.
From Hungarian refineries were produced during 1 W
Crown*.
10, 787. 27A.O
’ l 128.S5A21
Crown*.
Sid, valued at . ‘ . . .
Iver, valued at . . Hungarian mine®.
in^e ^unKar*an refineries worked only uponm**®™*j ^ ^ contained in the anioun
J^Uence °* which the gold and silver reo ^ and a
op® Produced. . „ id reckoned at 3,280 crowns tu,
ufc tho ^imation of values, a kilogram oi fine go country at
y1®1" of fine silver at 90 crowns. rojn and bullion ^-k^hbanya
thn^ Approximate stock of gold and si • « ,r p,rian mint at 0id and
of the calendar year 1908. At the Royal H»»gJ fcfogrums of fine P>
37 on hand at en<^ °* t*ie yeaf , .>xi <450 crowns m
TC811 kilograms of fine silver. m there were 1.229,850
g e^te treasury, at the end of the year
eointi, and jn circulation about 103,886,000
gold
190
REPORT DIRECTOR OF MINT.
TbomeUiHi0 stock in the treasury of the Austrin-IIungarian Bank at the end of th«
year 1908 ronwetod of 1, 182,000, OCX) crown* in gold coin* and 293.000 000 crowns in
circuhtUm.' Th” 411,011111 of C0IM "erv<* M tJie deposit covering thc’bank notes in
16, 17, 18 and 19. The complete withdrawal of government notes was concluded in
OfrtheTi,J:etyCa-r 1908Tfno government notes were in drcultrion
Ji the bank notes issued by the Austna-IIungarian Bank, there were in circulation
»t the end of the year 1908, 2,11-000,000 cru«™. At the end of IheTear 190? there
were in the treasury 0f the Auslria-Hungarian Bank: 5 JJW> lhere
Gold ooLn and bullion . . Crowns.
Notes payable in eold . . • 1. IK. 000, 000
. 811ver coins and currency to.ono.noo
. 293.000.000
Total . — -
. 1,535.000.000
After deducting this amount from the bank notes in circulation 2 112 000 aa slated
cointwhich .'re co«~ £n'k~“ ^ "* "°‘ cnvcred b> » »
^ki^Aki^triif-ij'un^ariaiPijfl^i l/'ro^rprleom* tir^barlfc ^it,*isHii<*iU^i
&^ inl"uwfulf3.r*n y au’IK'ndod’ but durins *•“ y«» 1*08 the hank redeemed
° ^aIuo.accordinP to the average current rates of Berlin London
MB ne ihemS-’s'itf 7/ Z Th?" l9°S '?>"> lh(“
* and end of A?,ril L Wa* f of » P^r cent at the beginning
anu end ot April and at the beginning and end of May: of 2 nor cent it the end
o?l£^i^3rcSn^^2j^JMia,Wr¥V'' iD MalVh.' at tfl° mid<J^of April and middle
and midd^ofJaniuiry?0 ' ° Fobru“r>' »**<« « P«f cent at the beginning
an»Ul^mmm*^VSIf?i^5?ld w'""1 *« months of 190K There was a
23’ Th7rem «sytu‘l?,?K?he'''I“'''.W''r0 i»*«l»n<>ctiw the metallic m paper money,
completed when tIUm' mt>oa9 !h<* m'nt an<1 “»“ing for 1908 are not vet
f,,rn,,rly' ,lir"1 ,o ihe
The New 2-Crown Pieces.
T/ . • r> •< , , , February IS, 1900.
enJ^n? SISSST^MmSLA * bi" di'"ibu«^ which empower, .he Gov-
upon coinage and fixed value ud»h .WIt^,roPir^ to the former agreement
portion TifOJSSS nlverto’o lOOcopper^fLs'l kji* o^**1*** “>d copper in Ihe pro-
.
£g^Mj~3S^^^!BaSS!3£a
between thaAustrian and theHungwiS mi* *** PfUi in cirt:ulalion »’»U be settled
For the purpose of striking filliUJce Prescriptive manner,
ten. will take over the sum fcltal of WOW fSiT!!. a8n»d upon, the two mmis-
Austro- Hungarian Bank after havitur’I S1^^118 111 ?llv*r florin pieces from the
Irian treasury will take over the sum of a lcR?1 equivalent. The Aus-
the sum of 15,000,000 crowns m °* crowns and the Hungarian treasury
haldcd wm mTh'/rw^chrendn" S ^^ny. <“*nCe W‘U bc imm'‘,Iiau'l-v
REPORT DIRECTOR OP MINT.
101
The follow ing notes haVe been added to the draft of thi* bill
Although over dncethe 1st of Jarman , 1900, the crown currency ha* become the
Z'T'lZ ^*"Undttrd cunaucy of .he county in place of the foro.er < ur-
f?,*n rurronr y 1.aH' however, not become popular. The circumstances
that the Austrian currency, i. e , the 1-florin piece, is sti/l regarded a* legal tender
hw prov»*d to be one of the pnnnpal hindrances to a general popularity ofW crown
currency. The treasury in agreement with the Austro-Hungarian Dank, at one time
made the ittempt to exclude the 1-florin piece from actual currency by keeping back
all thorn* that were paid in at government money officer and bank's and letting them
accumulate in the Auntro-Hunganan Hank, where these 1-florin piece®, like the gold
currency and the small change of the crown currency, naturally formed a part of .he
value in metal, that is to nav a |>art of the cash equivalent of the bank-note eircula-
tion These nH-asures prov«*d Huccessful. but noon reached the limits of portability
wnce the "upplv of the 5-crown pieces which had to replace the j-florin piece* thin,
withdrawn, did not suffice to cover the demand for legal tender of this cut-mry
1 emission had to be given once more f«»r putting the 1 florin pi«-o«ts into circulation
loan amount cauivahntlo tb«* deficit in 1 and 6 crow n piece* at the go\ eminent money
olfices und the banka rherefore the actual retention of the silver florins only apoeaii
possible under the preemption that either a larger quota of 1 and 5 « roan pieces be
nut into circulation or else a new species of silver coin in crown c urrency introduc ed.
In favor of the latter proposal that in of putting into circulation u new species of
Silver coin is the apparent necessity of connecting coin between the 1 and the5 crown
pieces. The most suitable connecting coin would doubtless be* a 2-crown piece, for
a 3-crown piece would cause u c ertain amount of arithmc*tical and manipulative diffi¬
culty on ac c ount of its not fitting in sufficiently with the decimal system; besides, the
dimensions of a 2-crow’n piece can be made more handy than thereof a 3-crown piece.
The* pro[K)s<*d dimensions of the 2-crown niece* with r.-gard to their weight, stand¬
ard quality, and dimensions arc*, by a natural sequence, always just double the* amount
of the 1-crown pieee* As to the quantity, that will depeud solely oil the amount
absolutely required, for it coincides belter with the whole system of the* mint to replace
the I -florin pieces by 1 -crown coins.
In consideration of this, the amount of 60,000,000 2-crown pics es has been pro|swed.
The* incresse in the quantity of 1-crown pieces i* imperative' not only because the
supply of 200,000.000 I -crow n pieces coined up to the* present time has run out. but
also on account of the limited supply of these particular coins in the* banks; ami it
has also proved necessary in view of the retention of the 1-florin pieces being con¬
tinued The profswed incr«*a*e of 100 000,000 in the supply of I-crown piece* will
presumably cover the requirements of increased trade for a considerable lime.
For the same nominal amount in which the 1 and 2 crown piece* are put into cir¬
culation, the silver florin, which will be replaced by these mins, will have to be
demonstrated .
BELGIUM.
[Translation.]
General Abstract ok tub Coinage Operations ok tuk Belgian Mint in 1908.
In 1908 the* workshops <*f the mint have been occupied with the coinage of national
nickel coins; silver coins for th<* Republic of Salvador; nickel coins for Siam, the
Independent State of the Kongo, and the Grand Duchy of Luxemburg
These various coinages represent a total in round figure* of 34,000,000 pieces of a
weight of 198,000 kilogram*, and a nominal value at French parity ofl 1,600,000 francs.
It is to In* remarked that the metal for the nickel blanks, as well as those for the
silver, are executed in our own factories, contrary to the practice of the majority of
other mints, who have recourse to private industry for furnishing them with nickel
blanks
national nickel coins struck during 1908.
(Conipotlllon, 25 psr ccnl nickel, 75 per cwnl copper.]
Nickel min* authorized by the law' of February 3, 1908, have been struck for the
noiitmul value of a little more than 2. 000, 000 francs
The design of the pieces is identical to that of the cut of the 5 and 10 centimes.
Their weight i* IU grain* and their diameter is 26 millimeters They an* pierced in
the renter with a hole of 4 J millimeter* diameter.
192
HE PORT DIRECTOR OF MINT.
The supplying of iln* nickel and copper uictals neceasirv for ihn.'r wna..,.t
haa been made by public contract The net profit of the co?naU mak.n/.filS'
Th-O^i f^° m°lfa and ^P01180* °f manufacture*, amounted to J 820 000 tnnr*
ZfJS&S? m ™n,orn“,,0° "i,h ,hp to,hc,u8lZtD,":
mimmims-fsi
FOREIGN COINS STRCCK DURING 1908.
. A. For Hr public of Salvador.
SLVEa COIN*.
assavers of the laboratory venfv aJ *' T h de,,,ver.v of piece*, 2
rrefi“& outai',c of ,ho all~ of coi™£ CdMss^ “n;;™»«u„r
back com pi e let v t o * th e cruci b tatieia motive6 ^ n^14 m ° .“T*® °f C/°7?’ 2 have been turned
been found outside of the allowance The 80 hT °a °r* °- PIoceT its?<a-vod had
the assay of 199 piece* which were ail 8°n?Lhier deIVv®ne* have given place to
in delivery has Leen 0 901 loo «n,i .v, i . fe o« bmits. The highest fineness
whole For ttr'JrW the av.era«e fineness of the
the samples hasTbcST nearivahm.r hC del»venes the average weight of
pieces have been excluded hv the noLi!?® n^11 but individually, numerous
M« - * 7** p\mmely
being a proportion of wastage of 2 26 per ccnt ^ ’ * 8 defective in stamping,
11 Siam.
the coinage of pure uic^l1an?§i^t/^fnl?!e ^rUHK*^ ha* been clanged with
is continued in 1909. ms by the Government of Siam. The coinage
1- NICKEL
iTbe rtang is onc^inihund^ ^ ol^h^sU^r1 lictfd b(*en struck,
a value of 3 francs.) Those new coins ire If I ^ ’ wl*ich has, at French parity,
and weigh only 2 and 3j grams reaped i\ el v lie diameter of 17 J and 20 millimeter,
cenier 3 k ’ ro®P°< ,lvcly- They arc pierced with a hole in the
2. BRONZE.
0. Independent Stale of the Kongo.
pieces of 5 and * 1 O^cenYi ine* ha\^ “ h°f dat^ o{ 19> 1W8, 2,000,000
diameter, and weight to the Belgian nirlrfTi^! ■ be,“£ identical as to composition,
previously made in 1900 ^ coins, a first small coinage having been
REPORT DIRECTOR OF MINT.
193
D. Grand Duchy of Luxemburg.
1. NICKEL
One million five hundred thousand nickel pieces of 5 centimes have been corned,
with a composition identical to that of the Belgian pieces. These nieces, of a new
type, have a diameter of 18 millimeters and a weight of 2$ grains The design has the
effigy of the Grand Duke Frederick.
2. BRONZE.
Four hundred thousand bronze pieces of 2$ centimes have been coined, with same
composition as the French bronze pieces. The^e coins have a diameter of 21 milli¬
meters and a weight of 2J grams. The design of the 2$ centimes was adopted by the
Grand Duchy in 1852. The various coinages have been made at the mint of Bnnsels.
MINT COINAGE?.
In 1908. For the Belgian coins, perforated, composed of nickel and copper, one pair
of coins has served for an average of 1 16,628 pieces. ...
For the coins of the Kongo and the Grand Duchy of Luxemburg, made with the same
composition, the averages have been for 93,62') and 188,337 pieces, respectively.
For the coins of Siam, of pure nickel, the average has been for 184,446 pieces. For
the coins of Siam, in bronze, the average has been for 169,497 pieces.
For the silver coins of 1 peso for Salvador tho average ha? been for 47.296 P.,00J*:
Nominal value of nickel coins of 25 centimes (perforated type), struck in 1968,
2,004,558.75, w ith a composition of 25 ncr cent nickel and 75 per cent copper, diameter
of 26 millimeters, and legal weight of 6J grams.
Circulation of notes of the National Bank of Belgium during 1908:
Denomination of tho note.
Value.
1,000 francs.
600 francs .
Fran/i.
1(0,207,000
72, 148. 000
297, 60S, 000
7.1,(08,060
149,300,320
763,079,970
60 francs .
20 francs .
Composition ot tho reserve of the National Bank of Belgium on December 81, 1908:
Description.
Value.
/Voile#.
112, UO.N50.00
Gold oolua having legal currency In Belgium . .
37, (132, 600- 00
8,003,875. 31
Fractional coins of silver and copper .
15&. 103.225. 31
Foreign notes tn hand . .
184,324,000.00
Diameter, we
Brussels in 1908
ieht and fineness of the 1-peso silver pieces coined at the mint of
for the Republic of San Salvador:
Description
Diameter.
Legal
weight.
Average
fineness.
XlllimrUT*.
37
Oram).
25
Thousandth)
900,045
19711—10 - 13
194
BEPOBT DIBECTOB OF MIST.
ot fte nickel “d bron” picc“ "*-* ■* «•"
Description.
D1“*ter JwSt. Composition.
Bronze: l stands
MilUmrtcrt Ormwu.
Z?i 5 45 per cent copper. 4 per cent tin, 1 per
cent sine.
171 2 Nickel (pan)
» 11 Do.
Nickrl:
titans'... .
.
« The sianf b one-hundredth part oX the silver Ucal wofchin* 15 crams.
r^u' \ *3d con;Posi'it'n "f 'he nickel pi«c« coined it ihc mint of Bn*-
aelfi m 1906, for the Independent State of the Kongo-
Description
Diameter LaaJ
• weilbL
Composition.
Nickel:
20onnUmrs
XiWmttcr, Ormmu
25 c
22 4
1» 21
*3.47 per cent nickel, 74J0 per cent cop-
25 40 per cent nickel, 74^2 percent cop-
per.
25^5 per cent nickel, 74.32 per cent cop¬
per.
10 centimes
S centimes
&& ^ oomwl ,he
Description
Diameter
Lead
weitbt
Composition.
Nickrl; Soon times
MiUtmaer,
IS
21
Ormsu
3
25 per cent nickel, 75 per cent copper
95 per cent copper, 4 per oent tin, I prr
cent sine.
Brooir: 2^ oc&tlnm
"sss^ss^iJfUsms ssss Sm
Leopold II, etc.
^PTl^iV^Te^)fro^n(.^^t^e0nie^<^, th° h*V° re*°lvcd and ordered—
meters in diameter fur the 5-centimo **** cent*r wilil a h‘le 34 milli-
•nd 14 millimeters fur the 2vS>utlmc The LhTtLl" lh<L 1.°^Ilt,rae P*®^9
surmounted bv a royal crown and a L on their obverse two L s,
"Koniotn k fldrie^- ,'kSL ™ "Tds R°,'a.im« do Uelfmu." or
reverse. at the left .-id©. a cpri-of UuwJ^S?.* Lhe,holU)m 1110 date on the
"te Thecom^ll be^ckMith asmith nmtlS ** indlcalJ0D of ^
pi«°‘ « * Jr-r»in ' f', -Ah * sSin £££iy#f‘S|2IlI* 21 S'*™1’ ,or l»<entimc
10^tMe piM^?yj‘iK^J?r **“? Pi0‘~0* « » miUimMora. for the
*«• < Ae cort of theilStau- S tW?°,T!.P'eCes 26 ‘"dlin.nerr.
^.vte'rrumci^ ihT&'S^ok9' “ ™Deed per
^A^Tth and tr*n*l'orUl>"" m deli^Sjy/^ 18 fixod *** COst of * kil°gram of
which are rt^ukuil'by^Siltori^rd^e^10111418 cajta of 1116 dies *nd verification
REPORT DIRECTOR OP MINT.
195
Importation and exportation oj gold and silver, from atUom-houae record*.
Importation.
Year
Ora.
Exportation.
1800
1801 .
180.'
1809..
1904
1*».
1800
1807. .
2, eon
an. mo
a. aoo
**» . . 9Zl.fi00
i«n . l.ooo
*802 . 32.800
1801 . . 64.0(0
IW . 310. 400
1805 . 499. 000
*8W . 313,400
1*07 . 144,700
Kilos.
SO
1,700
1.200
1,»J00
1,350 .
2.400 400
1.400 1 IM
ft. 900 2,100
l.SOO 70
Kilos
3.«O0 I
1,800
3. 250
11.400
h,;oo
10.250
24.000
21.100
12. *00
32.100
a.w
1K3, 100
71,800
r*,500
13ft. 000
74.400
123.000
412.700
508,000
11, 3181
2,500
20, 700
1.820
1,110.000
W, 400
10ft, MO
2J..OOO
405.800
04. *0
75ft. 500
4*3,500
338.200
3, 100
8.400
‘ 8.300
1,78ft. *00
2.000
7,200
Un-
Coin. !
Total.
Kilos.
Kilos
Kilos.
ono
1,00)
1,300
M0
2,300
3, 100
WO
40)
I.*®
2,000
«•
342, 100
700
1,200
5.000
ru)
3,000
a.ioo
13,000
u.auo
»,aoo
700
700
1,400
»,300
32,100
70, WO
4ft, 100
>.400
74.500
3H.400
14,800
CO. 700
42 50)
44, 400
041.800
49. VS)
>..800
*4.701)
44.f00
lft.000
1. *51. 200
4ft. 700
Hu.wo
150.800
41,10)
<•:,>«
115,500
• The headings "unwroughl maul" (‘bullion"). cotnnrUr gold and «Urer In
wire, thread , and Ibsues. as well as Lhat whkh U .tumped on sbrlla and *«*»■,' “dlbrok«n)ew f „ Lnerta
Tlx amounts of «rfn mentioned in the table above ore only those ahlrh hay
and exports Considerable amounts go om unknown to .be eu.ton.-ljwon amount* the
aaLxelinr and the interest one haa fx *sleiy In carrying it, not to make declaration. They also consul
gold and silver ore and bullion as money.
[Translation.)
Copper Coin for the Belgian Kongo.
(From L'EconoraUle Europorn, Fails, April 2. 1908.)
The Off, nal Bulletin of the Belgian Kongo contains a decree relative to the e*tab*
centime^,; 4 mnluneUM Jortn .. j surmounted by the royal crown repeated
They will carry °° |b* j* of the coin and the legend ‘'Congo beige- B«*lgi-ch-< oiiro;-
five times ^nd^ecwtWOieco ^ ^ ^ o( lhc cXny the hole in the coin
on the reverse, the fi ® P® _ t),e indication of the value and the finenew
<0mS^pWCTill»,*l“11 V® "tru.k with a grooved r.nt ind thorn ol nickel with .
“rffiSk » s«d ^
*» *T*i BtaSS Uw liSSowtw. 2 centime-. 23 miljimeter.; centime,, )• milli-
1-centime pieces a __ millimeter*- 20 centime*. 25 millimeters
meteM, nickel coins e-Ubluhed bv lhc decree* of Julv 27, 1887, and
s Tht‘/f7d [oSTdiall continue to have provisional currency in the colony. A royal
August 27 , 1006,JO* > which thee coins shall not have further currency
IS^SHu not berecetved .ny longer in the «* office, of the Suto.
[Translation 1
The Silver Coins op the Belgian Kongo.
(From L’Ecooomlsla European, Fans, May 7, 1808.1
The Official Bulletin ol the Belgian Kongo haa publiahcd the following regulation.
, ei a rtril 14 and put into execution by law of October 18, 1908.
d®***^" 1 The silver coins of 8 francs, 2 francs, 1 franc, and tt) cwntimef, coined by
the Ttulependent State of the Kongo by virtue of the decree of the re gmng King.
Juty W, G*7, shall reap© to have legal currency in the colony from October 1, 1909
196
BEPOBT DIBECTOR OF MINT.
Art. 2 Up to July 1, 1911, three coius ahull be exchanged against the coins of
at BrUB^’1- and bythe ca.-h offices of
the Kongo, which Khali be designated by the minister of the colonies. They Khali
continue to be received at all the public cash offic es of the colony up to the date
above mentioned in discharge of taxes, contribution*, or for any other payment
11141 ( ,‘Cr(Muhp salme ,mllotin published a regulation by the minister
of the Colon lea designating the cash office* oi the colony act apart to the services of
finances for the exchange of the above-described coins. ' ,C<* oi
VlLTZU RELATIVE TO ARTICLE 11 OK THE LAW UPON THE GOVERNMENT OP THE
Belgian Kongo.
(Extract from the report of tbe parliamentary wmmUson of the XVII to the
Krpresenlalhc* of April a, ItKM J
of tbe Chamber of
*T.H?hICL* 9 ^of *5® **!“)• “Go,<1 *nd 'diver coin* shall have currency in Belgium
and the Kongo under the same condition*. currency in uugium
u^ree wi1! arraoge tho date* at which the silver coins struck by the Inde-
",rther ™y “d ~ * “r
clmto'S1 VBL&Sg* °‘ fOT '*■'
*U|JwiKJS££ roppPr coi,“ ,or th0 "***. «*«
That arrangement u jii-t a, important for Belgium aa for the future rolonv
moPu^teiony ,he revuWon & «.~“,rhivoDyupon thr
influence uponth^natfve16 ,re0 coin fa called to exercire a happy
They couaidor that that queelion will bo the find to occupy the convention
DENMARK
American Legation,
Copenhagen, March t9, 1909
Answers to interrogatories, 1908
60?.M7d2oi„°idn ‘pTre oMhe^o! l/fS t!** **>"0 were coined frem hu.lion
3. No couiage was executed for other government* g
Impossible togavc answer. *°*d """ ■“»» ll!,,,d in indurfria. an. during 1908
6. import and export of gold during 1908
Import* %
In bullion* . Crowns
Inc«ln . . — . .
Total. . . . .
Exports: . . 8000000
In coin .
4 100.000
By Countries.
HaarifkatJon and country ) .
* _ _ _ _ _ Import. Export.
Bullion, from £a(knu . . a*.
From Fnrland fcJOO.Qno
. : 1 '-Sffl
To Germany.. *25' 2?
To other countries.,....; • . J’wn «*)
Total . 400.00)
. . . . . . . | 9,000,000 1 4.300.000
• About J.-ton kilofrmm.
REPORT DIRECTOR OF MINT.
197
7. Import and export of silver during 190b: Impossible to give answer.
8 and 'J. No United States gold has been imported or melted in the year 1908
10, 11, 12, and 13. No mines or refineries in Denmark or in the colonies
14. The stock of gold at the cloee of the year 1908 was
In coin. .
In bullion.
Crown*.
<i7.(m,O00
6. .YU, 000
15. The stock of silver at the dope of the year 1908 was In coin, about 23.000,000
crowns.
10 and 17. No government notes in Denmark
18 and 19. The amount of bank notes outstanding at the end of the vear 1908 was-
About 125.000,000 crown*
Bank notes not covered by legal-tender gold and silver coin or bullion at the end
of the vear 1908 was: About 54,000,000 crowns
20. Actual currency of the country: Gold
21. There is no premium on gold.
22. No laws were oassed during 190S affecting the currency
23. Report published on operations of mint Copy attached
FRANCE.
Amskican Embassy,
Pane. June 10. 1909
Ansvert to \nterrogatorie», 1908.
1 Amount of gold coined during the calendar year 1908
A. French Gold Coinp
Denomination
.Number
of pieces.
Value
100 francs . . . * .
23.038
fi,7?l S>5
1.M0.U7
Franc*.
2.M3.W
134. O*. MO
l«5,.'iU, 370
Total . .
8, MM, 700
153,233,070
Coined from bullion and domestic coins melted down, via:
Bullion . .
Recolnage . . . •
ToUl . . .
Francs.
1S2.S7I.710
aoi.vfcO
153.2U.C70
B. Colonial Coins.
TUNIS.
Denomination.
30 francs -
10 francs -
Total.
Number
of pieces
Value
4rt
Franc*
020
166
1,060
212
2.580
198
REPORT DIRECTOR OF MINT.
2. Amount of silver coined during the calendar year 1908:
A. Frekch Silver Coins.
Denomination.
v—
1 -
Fmncs.
2, an, 80S 5, 003, 616
8, 961,222 3, 9ft], 222
11 SfU ftW 7. 1.VLQ29
iofrmDUni» .
Total . .
30, 767, OKS
16,116,867
Obtained from the melting down of old coins, viz:
Fractional coins .
6-tranc |4m.. .
Francs
9. *13.263
9,221»J8J
There were obtained fmm the melting down of 20.000,000 francs of old coins of the
same denomination 12,602,656 francs in piecea of 50 centimes, and from a like number
of coins melted down in 1907 1,088 pieces of 2 francs were obtained.
B. Colonial Coins.
TUNIS.
DmoSMOM
Nuniter
afplecas.
Value
3frMrt .
100.606
401 . 401.
2.0U6
Ft* net.
101,212
401,406
1,003
(Oouliiws.. . . . . .
Total .
an, ois
003,621
Indo-Chixa.
— —
Value.
Number
ot pieces. 1
j Plasters.
Francs
13. USA. 340 13.flWl.340
am, ooo lao.ono
1,000.000 HIV UU
75.526.236
540.000
540,000
oJn plater .
0JO pilittf . . . .
Total . . .
15.4M.340 14. 186,310
76,606,236
3. Coinage executed for other governments during 1908: For the Government of
Bolivia, nickel coins in denominations of 10 and 5 centavos, to a value of 750,003
boliv ianus, or 3.750,015 francs
4. Weight of fine gold used in industrial arts during 190S: The amount of gold used
mav be estimated at 29,320 kilograms fine gold.
The weight of gold objects stamped at the mint (bureau du controle) was 15,000
kilograms (0.950 and 0.800 1.
5. Weight of fine silver used in industrial arts during 1908, 325,600 kilograms.
Objects stamped at the mint and other bureaux de control, 145,600 kilograms (0.950-
0.800).
6 and 7 Imports and exports of gold and silver during the calendar year 190S:
REPORT DIRECTOR OF MINT.
199
GOLD.
Classification and country.
Imports.
Exports.
Weight.
Value.
Weight.
Value.
Button.
KUofram*
170.212
Fnncs.
Kilogram*.
Froacs.
.{>95
m. 791
Other countries . . .
18.656
Total . .
2*. IM
786.477,000
Coins:
England
40 030
2. 148
a 630
|| jyi
5.1*7
.486
Ss
.00’
Swltaerlapd .
&. 130
.Oil
. 342
Egypt .
5.273
1.662
1.974
• Other countries . .
Total . . -
Ore and platinum .
70 188
407. UD
217. 271. 000
12.000
6 661
20,716,000
"
«* 774
2.663,000
. 1
• Destination not given.
SILVER
Imports.
Exports.
Classification and country.
Value
Weight.
Value.
Bullion:
KUofram*.
Franc*.
Kilograms
franc*.
Endand . . .
17.174
6.299
571.416
7M.409
W. 423. 000
:
Coins:
762
6. 450
£9.807
Belgium . .
3SU7U8
1 3J6
1 824
.017
32 W*
38.614
530.728
Italy . .
Switzerland . .
1.386
taiw
443 681
■ 250 000
84,676,000
067 4 *4
155,360,000
Ore and platinum .
Ore, bars, broken jewelry, etc
06.033
113.100
.
ISO. 030
20,624,000
a Vain* nnt r(\ftn
• Value not given.
r ami 9 Import of United States gold coin during 1908: The French customs do
not class by countries gold coin imported into the country; it is, consequently,
?mmwible to give the nuinl»er of American gold coins that entered trance during the
JpTr No American gold coin was melted down at the mint during the year 1908.
in Amount or gold produced from mines of the country and colonies of the country
. 10 _ t nf iho x Mr 1908 is not vet
11 Amount of silver produced from mines of the country and colonies of the country
during 1908: Figures for the year 1908 have not yet been obtained; for the year 1907
they are 24,727 kilograms; value, 2,967,000 [runes.
200
REPORT DIRECTOR OF MINT.
\2 and 13. Output of gold from rciineriea of the country during 190$: Output for
1908 not yet known; for 1907 it was 18 kilogram*; value, 62,000 francs
For the colonies:
lndo-Chlna
Guiana. . ..
Madagascar
Kilo¬
grams.
H
4. mo
' 2, M0
Francs
105.000
12,232.(00
8,820,uno
14. The Block of gold in France at the end of the year 1908 in approximately esti
mated to bo:
Francs.
20- franc pieces. .
10-franc pieces..
Other pieces...
Total....
4,000.000.000
(W.non.ooo
mono, ooo
4,800,000,000
15. The stock of silver at the end of the year 1908 was estimated to be.
5-franr pieces .
FracUonal coins. . .
Total . .
Francs.
,800.000 000
330.000.000
,130,000,000
16 and 17. There are no government notes in France.
18 and 19 The Hank of France alone has the right to issue notes. On Decemlier 31,
1908, the amount of notes in circulation was 5,225,519,875 francs. The amount of coin
held by the Bank of France on December 31, 1908, being-
Francs
Gold . .
Silver .
The unoov ered notes would amount to.
3.488.227.227
882.870, 229
854. 422. 4 IP
The circulation of notes being.
. 5,225,519,875
20. Actual curreucy of the country: Gold and silver. Gold and 5-franc piece*
have unlimited purchasing power Fractional currency to the amount of 50 francs is
legal tender. Notes of the Hank of France are legal lender to any amount, but an*
convertible into specie upon demand.
21. Premium on gold: Gold wa* at par throughout the year 1908.
22 and 23. Report to the minister of finances (administration de* monnaiee et
rnddaiiles) for the year 1908 is inclosed
Bank op France
(From a statement rendered in the name of the general counsellor of the bank and report of th# censor*
Composition op the Reserve on December 31, 1907 and 1908
Location
1907.
1906
Gold.
Silver
Gold.
Silver
Paris .
Branches... .
Franc*.
2.3?7 ann.ono
348.900.000
Franc*.
138.800.000
778.SOO.OOO
Franc*.
3.112 ooo.ooo
376.000 000
Franc*
12$ Ml o mo
754.800,000
TotaL .
2.070,100,000
917,000,000
3,488,200.000
883,300.000
REPORT DIRECTOR OF MINT.
201
The variation* of ihe circulation of note* during 1908 have been a* follows
Maximum, January 3. . .
Minimum , August 24 _ ...
Average for 11T8 being .
The average of the year 1907 having been.
Increase for 1808 .
Franer
S. 116, 271.400
4 fJA.rjS4.400
*4. 8X3^440 ."flOO
4,SU0,43l.7tt>
A3.006.900
Issue op Notes.
The iwuee of note* in 1908 have been as follows
1 ono-frane notes. .
MO-finnc notes . .
lorvfranc notes. . .
ao-fram- notes .
-h
Frmuct.
R.V) nuo WO. OOO. 000
Ari0.0U> 175 000 000
S.UUl.OOO «*VU» 000
6.27S.nOO
Total . .
In 1907 the Issue amounted to 13,200,000 notes, for
There is then in 1908 a decrease of 725,000 notes and an inrreaae by the sum of .
2fi3.7A0.000
i twe 7ro ono
1 bHrl 2M.OCO
[Translation.)
Latin Monetary Union.
[From L’ Economist* EuropAcn.]
Parls, Sov ember 6, lvOfi
From the newtiatioim entered upon nearly two yean ago by the Government of the
Republic (of Francel with the powers making part of the monetary union and which,
aa every one should know, are Belgium, France, Greece. Italy, ana Switzerland, have
about come to signing for u convention of substantial importance. ,.*j
The essential characteristics for one part are the authorization of the fi\o allied
powers toremed v the scarcity of fractional silver coins, which i- made •enable eywy-
wliere notably in France and Belgium, by the coinage of 60 centime and 1 and - franc
ni£« or the o^er part. to oxpr£»ly order that, in general ruling and save m excep¬
tional neceesity, theVfU* of 5 francs shall be used for the manufacture of new frac¬
tional coins. pARI8 January 8, 190V.
In their number of January 1 but. L’Eeonomiate Europ^n publiahed the prin.na
nmvisions of the supplemental convention (concluded at Pan* November 4. 1^08)
to The monetary convention of November 0, 1886, between Belgium, France, Greece.
1 ^iie ^elgi an* Government has conic to the point of drawing up a plan of a law
approving Biat convention 1 he statement of the reasons which
JFFaw contains some very interesting information upon the subject of Belgium and the
K^"por tV^tTmato^ tJh^qucto^ttributod to Franco and Belgium the convention
bo« taken into account the population of their colonies. l or ihe African possessions
of France and including Algiers and the Island of Madapiscar that populat ion is, from
the monetary view [joint, estimated at 20,000,000 and for the Belgian colony of the
Kongo at 10*000.000. Thc*o figures may be modified to agree in common by diplo-
““-Thc 'popuTuTionoV Belgium being estimated by the convention at 7 300.000 mhabi-
the present Belgian contingent, calculated upon the basisof 16 francs per head,
Sd thS amoS. for Belgium and the kongo, to 276 800 001) francs. The
coinages effected up to to-day. which have been to an amount of 46 800,000 francs are
to be deducted from that ,urn. At the rate of 0 CO francs per inhabitant, the Govern¬
ment will have power to it*ue each year an amount of 10,380,000 francs in fractional
coins bv means of the remelting of Belgian of 5 franca .... . ,
“Tho entrv of the Kongo into the Latin Union involves the retirement of the special
silver coins iwuod by the independent state; they' represent an amount of 1,900,000
francs, of which 990.000 francs are in fractional coins.
202
REPORT DIRECTOR OF MINT.
“In order lo avoid the injury to the colony which would be entailed in consequence
of the unconditional retirement of these coins the Government has requested and
obtained the insertion of a clause in the convention permitting the use of the Belgian
design in the coinages of fractional coins."
Paris, April t> 1909.
L’ Economist e Europlen announced, on March 3, the promulgation of the law bearing
the approval of the monetary convention signed at Paris November 4. 1908, between
France, Belgium, Greece, Italy, and Switzerland.
We understand that that convention especially ordered the retirement from circu¬
lation of all Greek fractional coins (2 and 1 franc, 50 and 20 centimes pieces) within
four months from the date of its entering into force.
The delay was to commence on Apnl 1 next But the Italian Government having
found it to be an impossibility to have a vote on it and, consequently, of ratifying the
convention in due time, by reason of the dissolution of the Italian Parliament, they
came to an agreement for prolonging the starting point of the four month- delav from
April 1 to May 15 for the retirement of the Greek fractional coins. The public will
thus have from May 15 a delay of four months for paving in or exchanging the Greek
fractional coins in the public cash offices.
FINLAND.
Table or Mint Coinage ix the Grand Dccbt or Finland, 1903-1907
[From official ataUrtict ot Finland tor 1307, Hetsln rSon, 1909 ]
Denomination.
1903.
1904.
1906.
1906.
1907.
Total.
Gold:
»-mark plena .
3,7*0,000
r,9*uk
mirtt
9,000.000
10-mark plena . . ..
l, ouo, ooo
420,000
49,000
SOVTT
3-roark places . .
.
1,440,000
1-mark pl«rvs .
432,000
24K. 000
3<? iMO
JO-pennl pl'cea. . .
_ *-P«inl plan. .
.
.
| as! ooo
£.000
Bronx/
lO-pronl Pl*v« . .
JO, 700
30,300
101.000
1 111 pltw .
1-penni places . . . .
4.9GO
ui&so
I0.2UJ
34.’ So
92^750
GREAT BRITAIN.
American Embassy,
London, September 9, 1909
Answer $ to interrogatories , 1908.
1. Gold coined in Loudon during the calendar year 1908'
Hall soravUns xii.NQo.onu
. . 2,000,000
Total . .
. . — . . 12.800.000
Light gold coin withdrawn from circulation in the United Kingdom and recoined
SoTtrrirm .
11 all •overeims . £1,2115,000
. 1,505,000
Total . .
No foreign gold coin was melted during the year.
-• Silver coined in Ixmdon during 1908:
Hall crowns _
Florins . £219.97*
Shllllncc . . I. . 3.r v*
. 101,970
REPORT DIRECTOR OF MINT.
205
Values ok the Registered Imports op Gold and Silver Coin and Bullion
into Great Britain, 1904 to 1908.
Country whence imported.
Gold coin and bullion (total value)
1904.
1905. |
1906.
1907.
1908.
*24.333
*4*2
*4.905
*486.650
*0.458
6.9M. V.*l
907,257
1,985 SA5
2.290,385
11,370,524
8.704,494
Z7.U2 527
13.959 881
1.041,864
3.966.633
3,7*3 513
1.801,218
Belgium . . .
3.4S3.7S1 1
1,778.798
1.957,705
16,544.733
5. 163.215
25,325.777
1 . m, NS*
1.090. 157
646,028
203.478
194,321
€39,877
1,580.518
265,106
320,157
188,051
ISO, 230
251, 179
400
. .1
170
39
153.713
1,217,428
2.364.564
5,W0.1W
2,963 DLJ
Morocco .
5,639
8.103
343,667
127,736
29.384
103,501
5,280
47. 059
* i<6,ioi
243.325
12. 264
574 ,071
United 6 totes of America .
127,001
341
123,853
3,183,996
Colombia and Panama .
Venezuela . . .
1,590. 231
25,(95
1, 398. 0M
106.71.1
874, 2*1
1,141.497
4.380
1,904,534
111,929
2,847
57 902
Chile .
115,9.54
157 947
"*' 02.408
8*. 264
2. 158. 0£0
2.014
99.924
1,04k, 111
Brazil . .
2,157,1.36
1,978. OM
1,796.940
1.931.597
608.513
582,321
•41,974
Uruguay .
Argentina .
3.1*3
13.353
437,619
2,433
5. ASS
2, 676. f 38
OtSer foreign countries .
753, 125
696, f«3
Total from foreign countries .
19,770,297
24.085.940
40.617,332
91.004.832
28.965.744
Channel Isl&nds. . . .
254.241
324 306
279,872"
265,117
245,315
290 053
158,288
73.767
174.910
244.970
Malta and Uoxo .
6,327
1,119
291,990
87,597
125. U04
1,671 700
2. 7*8,797
3,859,738
5. 740, 172
143,288,496
6.525. i 27
lM.SI.CS
H Wl (XXlSL Ol /lliUM vuuumi/ . .
British South Afrlnt .
79,530,080
103,590,139
125, 135. 736
730
10,387.734
27. 252
TiriticK L'ntrl lndlpi .
37.335.282
15,708.050
11,718,930
Straits Settlements..
1,125,227
257,963
918. 177
134 140
739. <94
1,182,817
172] »5
L057 9Q3
v f \ lOu inn acpciiuctu.iw' .
Australasia'
West Australia .
South Austrilli . - .
13. 138. 139
18. 249
11,712,225
54,748
1 19.455,629
851.638
7. 345. Ml
5.607.261
233.067
14,833.350
145.995
8.451.349
55.965
Victoria...... - .
New 8cruth Wales . .
865.011
5.761.313
453. 246
530. 1 18
4,105.871
337.978
aiworiaeV.
72,243
2,975 884
LSSo! 677
N ew Zealand .. .
2.373,984
2,952 983
602. 146
British West India Islands .
1*249,' 698
5. 451
1.441.345
5SS |
1,955.647
' *1, 506. 499
1,674.952
British Guiana. . .
Other British possessions ... .
* ’.584
7,417
14,507
5.256
Total from British possessions .
145.000.118
163. 604. 722
183 448.932
186.816.580
195.000,427
164.860,415
187,090 «.2
224.060,264
277.821 412
224. 5*4 171
Grand total .......
206
BEPOBT DIBECTOK OF MINT.
Values of the Registered Imfofts of Gold and Silver Coin and Bullion
into Great Britain. 1904 to 1906— Continued.
Country whence imported.
Hirer coin end bullion t total aahie).
_ *4.007,11* $7,410,511
Boon .
Sweden . . . — . . . *r
Dnmrt . .
Germany . 1
Netherlands . »> <22
France . .
ror.ujrel K watt* anc
Spam end Cpaaries .
Turkey (European) .
Turkey ( Veiauel .
E«vi*t .
Morocco
Wet roast of A Irka ' torrifn) .
579 sor
1. S3. 251
l.*M 127 ,
1M .862
38ft. 812
I.K3.MM
2.8r2
34 .Vk.
ion
It 414
ir.na
« i
19.291
.
i,n w si. 7713 739 1.511 ^3
3I2.Q96 3rd 4t* 219 WO
4H9.317 *73.236
2,055.271 1 657 047 , 1.901 K23
1 m2 IN, 56 3J0
273.147 29*. «S 23C.974
ml 13W 798
IB 425 9. >8? I 2.097
HUH 50. 101 57.4»
Q. 119 W
■ ’
Untied Stalest* Amerta
Merino . .
Cukorn
Peru..
Chile _ _ - _ — — «
Bra II . . -■
TJrapaT .
Argentina .
Other f sreipt countries .
Total from CoTlfU «
Channel Islands .
Gibraltar . — . -
Malta and Goso .
West coast of Africa r British) .
British powauotM In South Africa. .
Aden and deoen lea, to .
British East Indies .
Cevlra and dependencies. .
HoartJnc . . .
Wet tustralia...
VHoria... -
New South Wales,
Q,ieen>rind .
New Zealand. .
Canada .
Newf lunliani
British West India
British Guiana .
Other British possessions.
Total from British p
Grand total . . . 56.876,435
so av
22*
40.943.193
8 2U3
72 488.799
1,1*. 970
6*. 411
419
47,617.686
3 909
992 $19
58.211.619
627.774
40 <21.032
4*177
17V 40
128 WN
2L5 701
383.7*1
3BQ.393
l PA '
1.392
1.217
_ *
5. MU
9.733
36.761
4 sec
115.594
4*6.582
6.740
5.538
24 . LS
51.218 735
8I.2M.aw
90.0*0.545 ,
fll 4 4 6BJ
*5. 71V 224
40 $79
in oni
15 wc
15.827
27.019
14 K>
U 0*4
24 R3B
17.769
11.378
29 129
124 0*
*1.115
97.257
421 575
TW.l'S
234. • 14
144.778
639 <32
WV296
106.216
44$
332,777
106.647
55.026
4
1,119
857
1 1 4>.0»0
227.100
2.988.341
, 4. rt? *27
T30 732
8St, 747
4. 493.640
1.318.822
3M.967
1,582-313
361,208
90 04.5
1* 509
136. 7*4
132 549
78.579
35 112
11 sas
76.404
W 040
5.548
•45 J4>
* 323.000
175 248
199. avo
<*»*
17 154
15 013
5 504
4.122
973
945.992
541 £3
213.075
3M.248
413 063
7.7*i
636
L.179.54*
779
5M
1.70B
515
».7in
29 02
75.217 310.096
2 203 .
291 64
307.000
971
5.497
1.971
. 5.C39.71Q
2.006.877
4.121 SI4
! 12.290.988
4.549.581
. 58.876,435
t3.225.aC 54.132.3W
| 77. 78V 614
50.255.605
REPORT DIRECTOR OF MINT. 207
Valdes or thk Registered Extorts or Gold and Silver Coin and Bullion
from Great Britain, 1904 to BIOS.
Gold coin and bullion (total value).
Country to which exported.
Russia . . . . .
Sweden .
Denmark. .
Germany . .
Netherlands. .
Belgium .
France . .
Portnoi A tores and Madeira . .
Spain and Canaries .
Italv .
Austria- Hungary. . .
Room inu .
Turkey (Europe). . .
£*n>* .
Morocco .
Prrslo . . .
W at coast of Africa (foreign). .
Ja\n and other Dutch possessions In the
Indian seus. . .. .
United States of America .
Mcvl v> .. - - -
Colombia und Panama . .
Venezuela . .
Peru .
Chllo .
Bradl .
Uruguay . . .
Argent in . .
Other foreign counmu .
ITJ.&Sl
1,216.325
45. 720, 4J2
1.2W.0S7
4X7
$1,703 $8.24* 255
973 300 7U0. 770
1.714.24V
4,084.1.08
586.413
7. 71*0
1,124 248 14.394. OKS
3i8.ttK. 2 223.43V
“ - - 7.470
27,287.340 60,548.487 22,490.291 35.080 787
49,31
243 325
20, 571. ts A
IV. 914
190,888 409,750
2.433,2 JO " 291.900
. 2.239
.'83.980 437 985
1,459,950 S. 114.490
9,948,009 30. 580.1 7b
875.970
7.427.252
22,388.789
3,3*2.41* 1 8.842.431 19.048,209
Total to foreign countries
Channel Islands .
Gibraltar .
Malta und Goto . .
West Coast of Africa (British) .
British possessions in South Africa -
Aden and dependencies ... .
British East India .
Cc>lon .
Straits Settlements .
Canada .
British West India Islands .
Other British possessions .
Total to British
$14 273 444
1 824 937
2 212. S71
19.133 209
1,784.197
79 324
127,513,112
97 330
1.2V4
194 MO
0.70H. 037
583.980
2 . 91V , W S)
8,370 ;«o
15.U13
1,147,852
3.t*2, 270
409
130.909 <
804.434
53.531
3. 62*. 4t*
19. Suva 3
5.434.601
888, 130
. 487
192.227
890, tW
5t*,J8U
10.440.375
12.971.490
10. A A. 315
1,221.915
i, Ml. 092 1,311 01 i 12 220
976.731 180, 2* >2 . .
13.138.318 17.790.070 1 » 8 1U9
11.119.953 10, 702. 893 23.04J.4S8
9 737.1 8 i 3,64.7 106 8.477.443
V4I.6H* 848.197 1.007,984
130. 123,412
129.160,934
IN). 948. 208
214.391.062 224.42li.Ml
th.Wl
228.720
931. 3i*
68.5M
2.004
973
20, 03.'.. 039
13,140
6.70U
48.065
211,279
593.713
545. 291
64.0 8
316.322
3.407
19,126,095
170,338
773. 774
442.318
119.443
268.8*7
3.935
22,780.992
. 2.377
2.000, 131
212.791 810,323
389,820 .
It*. 0B3 13, .'04
033.497 97.850
9.733 4.N4
29.82l.ul2 18,232.245
5.840 . _ .. ,
1,730,578 8,(08
308,628
34 499
34.065
90.517 70.5(4
21.708.244
20.880.602
26.448.722
33.146.221 18.748 079
1*4). 832.056
150.031,436
207,396,930
247, 63b, 273 243.174,620
20*
BKPOHT DlBKCrUK OF MINT.
ViLlU> THE Kibt^rUEl) ElfUKTS OP bOU> A. SO S(L\ El Col*. AND Hl LUu.S
pro if Great Britain'. UXM to 1906 — Cominiu-ii
Country to which export**.
OtrtBtnjr .
Netherlands .
0*1*1 urn .
Fnnre . .
Port jciI Asores. tnd JUltin. .
Iuiy..
AustrU-IIononr .
Turkey ( Asiatic j .
SSS^ ::
Wot Coast of Alrlr* ilure4p»). .
Pen!* . . .
Jsv« mod ocher Dutch poai
A at Coot of Alrim British'. .
Biit tab pmotoM in Sjjtfa Ain a.
A<iai and lea.ia . .
British Eutluta .
Straits Settlements .
Orion . .
Hoarkoac
Australasia:
Wool Australia..
Sauth Australia..
Near Ssith Wales.
^LK^n.linl _
Newfoundland _
British Wot India
British GiRano...
Other BrltUti paw
Total to British p
Grand total .
1*04
IMS.
1906.
1907.
1906.
. w.oixoas ili.xi.wi
3537.431
34W 227
11 77X 351
St. 013
t 0 it'
9X463
87.587
14X9W
• 073
l.wn
3b. 279
3 484
1.371. 467
3,030.152
1.57X380
1.79X101
X 428 907
331 OtS
101 513
72.409
46.461
29.481
21 9W
14.653
m 075
30
63X618
XI® 190
3. 374.309
4.2W 3>7
7. 400.ua
3,550.90)
m.sa
““
35X541
827
371.216
1.603
4S7
1 5S2
718.344
9.081
39. r*
>4 946
36.499
»:»
1X792
33 34
• XJ66.97V
7K2.340
^ 427
1,557,616
45X2U0
jsu.m
391. 273
49 940
944
l. no
».79»
2 7*4
2S.43J
336,953
nmrso
X 707.380
739,973
1,630.777
49.541
3.538.406
399,330
9*1 793
n ,
1,737
X212
. 87B.no
439.993
43 796
143 5*
386.535
257 RS
9X371
97.330
10X116
ium
219
197.090
160. 39£
ISA, 544
1,22X290
307.433
i.n:
6.33b
a:
X 574
445
1.314
S&l 47U
®J
37.082
1.645
*47. W8
13. 793. 379
2l.4DI.007
11.456 1st
1X463.986
16. 233. 0B3
12 186
10,230
1
9 173
45.497
. 17,544
1X886
. 1X080
51. UW
1.304
341
219
1X065
' *316
1. TVs <Kt
S*v3SSJ
X575.797
X 516.022
9U7.UA
*J 351
36W
119, 482
W.S34
X6M
973
. CNsh
* ** ***
73,306.001
54.301 744
42 947.018
ta.TiA
1.947
6.516
5,009 JU>
12X008
XS4b ia
34.333
413 677
319,729
57 30b
2M.776
1.970.139
1,361.377
S91.7K
46X318
SS.965
108.963
1433
2X3Sb
1X573
10X116 1
16X414
300. 420
19 466
377,640
492. 4AJ
181 223
131 66J
45 6<4
336.056
997 <43
3K7.6»
9.273
40 SW
43 799
133.000
3X331
391.121
13X361
110,544
900.130
656. 42S
*1 St
4X61S
2X<XB
14 SOI
47XW1
•03. 792
49X 670
340 682
9.082
2.652
1.942
X 193
4 545
4.01S
141.712
150.529
3X581
26.656
30. 781 . 377
41.402.047
8U.349.rj4
4XWI.174
4X41X017
TU.tM.VH 9I.W7.910 8X34X312 M frM.Oft)
REPORT DIRECTOR OF MINT.
209
The (British* Mint rs 190t$
(From The Economist, London, January 9, 1909.]
We have received from the mint the usual preliminary statements of the year's
operations, showing the value of imperial coin issued and withdrawn from circulation.
The statement gives also comparative figure* for 1907 :
OOLD.
Denomination.
Issued.
Withdrawn.
1907.
1908.
1907.
1908.
jvrrelgns .
all wmelpn . . .
£is.8M,ono
£12,000.000
£1.813.000
£1,708.000
2,087.000
2,000,000
1,387 000
1,895,000
Total . .
20,951,000
14,000,000
2,700,000
3.300,000
SILVER.
Destination.
For England and Wale* .
For Scotland .
For Ireland . .
For colonies .
Total . . .
BRONZE.
For United Kingdom .
For colonics .
Total .
Issued.
Withdrawn.
1907.
1908.
1907.
1908.
£872.389
9.200
7.200
1.131.050
£302,870
48.400
12,000
892,475
£700.000
21,390
8,700
11,087
£150,800
25,080
04.295
15,194
2,019.789
815.751
742.777
255,419
200,235
27,815
188,135
17,445
5,260
200
227,650
155.580
5,400
The net increase in the currency during the last three yeare has been as follows
Value of Coins Issued Less Value Withdrawn.
Year.
Gold.
Silver
Drome.
NOB .
£0.405.000
18,251,000
£1,038.730
1,277,012
£184,520
237.550
11,300,000
500,332
150,180
210
BEPOBT DIBECTUB OF MINT.
In the case of gold these figures are nut an exact criterion of the expansion of the
internal circulation, owing to the use of coined gold for export purposes. Ilut com¬
bined with the changes in the token coinage they indicate a shrinkage in the demand
for currency, with the diminishing volume of bu-inesa. The value of gold coins
issued has fallen from X20.9ol.000 in 1907 to £14,600,000 last year. Hut, as the deputy
master of the mint pointed out in his report for 1907, the mintings for that year were on
an exceptional scale even for a year of trade prosperity, the average for the preceding
ten years being X7, 903, 168. Last year’s output is still nearly twice the normal annual
E reduction prior to 1907. The net increase in the amount fssued has to wmi- extent,
owever, been kept low by the very large withdrawals of light coin, '£3,300, 000 being
withdrawn this year compared with £2,700,000 in 1907 Such large withdrawals are
a welcome indication that the mint has been able to use a period of trade depression
to keep the coinage in the country up to a high level. The greatest proportionate
reduction has taken place in silver, the output being £815,751 against £2,019,789 in
1907 The number of silver coins issued, however, shows a much less proportionate
decrease -23,804,187 imperial coins compared with 37,343,094 in the preceding year.
It would appear, therefore, that the new coins issued have been, on the whole," of a
smaller denomination than usual. There is a withdrawal of £5,460 of bronze coinage
for the first time for three years
GERMANY
Ant was to interrogator ict, 1908.
1. In the calendar year 1908 the imperial gold coinage (including recoiuage) wa»-
Marks
In double crowns . . . . 66, iS3,f40
In crowns . 310, oSO
Total . . . . . . t5.hno.25iO
In the calendar year 1908 the German mints received for recoinage into imperial
gold coins:
(a)Uncurrent imperial gold coins:
Marks
Double crowns. . 4.7O4.5N0
Crowns . 4.77&.M)
Total . 9,470,o«)
Weight of same 3,3GC.96S7 kilograms, fine.
(b) Foreign gold coins, 603 3662 kilograms, fine.
2 In the calendar year 1908 the imperial eilver coinage was
lu 6-mark piece* _
In 6-uiark pieces a .
In 2-mnrk pieces.. .
In 1-mark pieces _
In 60-plennig pieces.
Marks.
22.327.1*5 00
14,001,012.00
0.107,122 00
6.003.070.00
3,00^.736.60
Total.
66,120,536.60
The metal for the silver coinage watt derived from thaler* and 50-pfcnnig pieces of
old coinage, bar silver 14,173.672 kilograms, fino. The silver thaler* used were of
1823-1856, and had a fineness of 0.900.
3. No gold coinage was executed at German mints in 1908 for foreign countries, but
silver coins of 1 rupee for German East Africa were coined at the Hamburg mint to
the amount of 500,000 rupees
4 and 5. No official data have been collected on the amount of gold and silver con¬
sumed for industrial purposes during the calendar year 1908
6, 7, 8, and 9 The imports and exports of gold and silver for 1908, according to the
countries of origin and destination, are given in the follow ing table
• New coins created by the law of May 10, 1006.
REPORT DIRECTOR OF MINT. 211
6 and 7. Imports and exports of gold and silver during the calendar year 1908
GOLD.
Country ot origin and destination
Belgium
Bulgaria. .
Denmark . .
France....
Great Britain..
Italy. .
Netherlands . . .
Gold, fine, alloyed, and
In dust and bars.
Kilogram*
Norway.
Austria- 11 ungury -
Roumanli .
ilussU In F.uropc. . .
Russia In Asia .
Sweden .
Switzerland ...
Turkey In Europe..,
British South Africa
China . . .
Argentina .
Hood ores . . .
British North America. ......
Dutch Australia
other countries
6, 093
t.oM
61
05
Kilogram*.
Total .
Gold coins.
Domestic. —
Imports. Exports.
193
S, 607
Kilograms.
1,215
114
1,139
1,347
59
243
1,133
3.759
1,314
Kilogram*
365
3,080
i, *74
Country of origin and destination
Belgium
Bulgaria .
Denmark .
France .
Greece . . .
Great Britain .
Netherlands . . •
Norway .
Austrla-llungury .
Roumnnla.
Russia In Europe. .
Russia In Asia. .
Sweden . - .
Switzerland .
Turkey In Europe .
British South Africa. .
China .
Argentina . . ..
Honduras . .
British North America .
Dutch Australia .
Other countries .
Total.
Gold coins.
Foreign
Imports. Exports.
13,783
45,303
Kilogram*
492
2, 108
1»
45,093
9S.M2
Exports.
and scrap
gold
(Imports).*
6.937
1,017
1,009
‘ 1,606
20,322
a Exports Included In preceding column.
212
■epokt dozctok of mist.
tILVEB.
Vk*
-
1M.«» _ _
nn<sL« .
REPORT DIRECTOR OF MINT.
213
The German territorial possessions yielded neither gold nor silver during 1908.
14. The amount of the imperial gold coinage up to the end of December, 1908,
exclusive of recoinage, was as follows:
Marks.
In double crowns .
In crowns .
Total . 4,444, 105,000
How much this amount has been reduced by export or other causes can not be
stated.
The stock of gold coin in the Iteichsbank at the end of December, 1908, amounted
to 432,422,000 marks.
The 6tock of gold bars and foreign gold coins in the Reichsbank at the end of Decem¬
ber, 1908, amounted to 335,842,000 marks.
15. The amount of the imperial silver coinage up to the end of December, 1908,
exclusive of recoinage, was as follows: Marks
. 253,072,080.00
In 6-mark pieces .
In 3-mark pieces . .
In 2-mark pieces . . J0Ul
In 1-mark pieces.
In 50-pfennig pieces .
14. Mm, 070 00
go. 439, 523. 50
939,300,000. 50
Bow much of thin amount is to be considered as lost to '“Jidatioi “ ““ “"ijTftS'ooO
In the stock of the Reichsbank at the end of December, 1908, there were 211,883,000
**16attd treasury notes issued up to the end
to 120,000,000 marks, an amount that equals the war fund which the Empire
rTsImn90lThCeei'reulauon of bank notes which isolated by the banktog lawof
March 14 i«7«wR (\ HI n 177). amended June 7, 1899 (K. U. ui.: P-*1; ’• ~,u /v
f'wof February 20, 1906 ( if.G. B... D. 3,8,. misting to the taue of »£>£**- «
in denominations of 50 and 20 marts, amounted, at the end of December, ut»,
2,124,688,000 marks. , , . • „re9g 0f the cash reserve in the
The issue of uncovered bank notes u» “V t j lo qoq 230 000 marks. The
issuing banks) at the end of December, 1908, • imoerikl treasury notes,
cash reserve of these banks consists of current G forei<m <TUld coin in fine
and notes of other German banks, the stock of gold bars and foreign gum
kilograms being reckoned at 2,784 marks. ntrv during 1908 was the
. 20. The only change in the ^^^gSdEerve (as men-
issue of 120,000,000 marks in imperial treasury notes agaiu »
tioned under Noe. 16 and 17).
21. There is no premium on gold. niirron<,v. i oW Gf Mav 19, 1908, effecting
22. Laws passed* during 1 908 affecting Ae currency. Law nay
modification of the monetary system (copy , ,
23. No report on operations of mints is published.
laAW or May 19, 1908, Effecting Modification of the Monetar
We, William, etc. , . . « q 1(!7o ;h modified as follows:
Article 1. The monetary law °f , ' f* th words “pieces of 5 mark the
(1) In article 3 they insert, in paragraph 1, alter tne .
WTn paragraph*^ btdore tho words -pieces of JO pfennig” the words -p.eces of ^
paragraph 1, after
The wording of paragraph 3 shall b ndication of their value. the: insc^.tr;rv.
of nickel and of copper, shall hoar , n(j the mint letter. The pre. P*
‘Deutsches Reich/ the date, the y^S^embEns ^ ^ aod reverse.
tions relative to the distribution of th wcn as the composition, weight,
the decoration aud character of _j uv the federal council. .. -__j»
diameter of the pieces, shall bo words “The federal council is authomed^
(2) In article 13, first paragraph i, aftei r th ^ thc retired pieces. The
they place at No. 1 the words to pu , necessary prescriptions for tha J
rangementn for putting out of currcncv delay allowed for putting them o
tion pertain to the federal council. ^ puttiag out of currency
rency to be up to two years i ne
214
REPORT DIRECTOR OP MINT.
shall be published by the bulletin of the laws of the Empire, a? veil as by the daily
newspaper* detained for the insertion of administrative notices of the subordinate
adaifikiatiow.
At Xo. 2 they insert the word#: ‘ To arrange the prescriptions of policy necessary
to the maintenance of a well-regulated silver circulation, ” and in paragraph 2 of the
same article they replace the words “of paragraph 1” by “of paragraphs 2 and 3."
The old paragraphs 1 and 2 shall be 3 and -4.
Arr 2. In article 4 of the law relative to changes in the monetary system of June
1, 1900. the number “15* to be replaced by “20 "
Coins Sracca in thx Mints at Beaux. Me view. Muioenei. Hurra, « Sierra att.
Eaausaru. and Hawncao nraixo 1906.
•OLD
Total fold
sltzx.
coma.
• DrodA.
trtiic a«z>a»
- S -
. a maser
asaana»
4 4oA.sc nxresi .<*•
V *7.004 I4.t#icua
. 4.AU.2U >.»: LS.X
. ASOS.S T> AeOAfTSOC
7.1®-. 477 ASSMM.3C*
2S.SU.i3ft
5ft.l2A23S.3D
nstiin
4L.nA.SU
A75A SIS aS
2.06&447.SS
74.xsi.ias
AM4 StiSS
. ML cm as
. m aobou
SmSlU
. 61 JOS, 301 7U.LS-S1
The total number of cold. silw, nickel, and copper coins struck on imperial account
in the year 1905 was 173. 863.042. as compared with 204,079,357 in the preceding year
A novel feature is to be noted in the coining of 4,897,004 3-mark pieces. At Hamburg.
13,317,36*1 coins were also struck for the German East African colonies in rupee* and
1, 5, and 10 hellera.
Other coins struck at Hamburg:
GERMAN EAST AFRICA.
The new German rupee has been struck with a view to introducing uniformity of coin¬
age in German East Africa It contains 100 hellera (or 1* marks? and ha- about the
*me '^T^ejndian "*!**• *hlch «* largely circulated now in German East Africa
b er<Uld 5 “d 1 heU*r piece® ^ *>e legal tender to the extent
KhHOBT DIRECTOR OK MINT.
215
GREECE.
Legation or the United States or America,
Athens. March 8, 1909.
Answrs to inlnroyntoria , 1908.
1 and 2- Amount of gold and silver coined during 190b: None
3. Coinage executed for other countries during 1906: No
■4 and 5 Weight of line gold and fine silver used in industrial arts during 1908: Un¬
known
6 and 7. Import and export of gold during 1908: ImpowibLe to ascertain.
8 and 9 Amount of United States gold coin imported and deposited at mint and
melted: Unknown , , . ,
10 and 11 Amount of gold and silver produced from mines of the country during
1908: None. . . in/w, „
12 and 13. Output of gold and silver from refinene- of the country during 1906: Nooe
14 and 15. Approximate of gold and silver coin and bullion in the country at
the close of the calendar year 1906 Unknown ^
16 and 17. Government note* outstanding at the end of the year 1908. .6,000,000
dnrhmu. None covered by legnl Header |old «»d «lv«r can or bulbqn^ m ^
18 and 19. Bank n**c- outstanding al the end of the year 1908. 139,000,000 drmch
. mas. None covered by legal-tender gold and silver com or bullwo
20. Actual currency of the country I moo vert ible P*!** ir*
21. Premium on g-ld during 1906: Higbt-t. 112*; lowest 1034, amp, U»
22. Laws published during 1906 affecting the currency: None.
23 Report published on operations ol mint: None
Retiree cvr or Grecian Feactional Silver Cows.
[From L'ErtmomlsU European. Psri», Octobw l, l*»d
The Journal Officiel of September 2«. 1909, by. pobU^ the followin* decree
relative to the retirement of tie Grecian fractional a
* The President of iheKrenchRepubhc^ counsel of the mimsier
-Upon the report of the minirter of ^ncmtaaamju
of common e and industry and the minister . r j2 lgl4.
“ In consideration of article 34 ^ 19Q9 whi( h approved the monetapr con-
•• In eonsiderat .on ol the U« * <5^,, Iuly, „d
mention agreed to November A 1 906, bet 6
Switzerland, of which article 13 is as f°Ho • Jul ^ Switzerland will not
When the public cash offices ^ 0’f theU* four sutea shall have the
accept any more of the fractional Greek coins, eacn oi
power of prohibiting their importation.
-Decree: . _ . gRer coins is prohibited in Fiance
-Art i. The importation of Grnaan^too^ {Member 15. 1909-
from this dav. and in Algeria and the col of fl,mnierce and industry, and the
- Abt. 2. the minister of b nance-, ^he m ^ ^ COncern them, with thi
mini.-tcr of the colonics in the bulletin of bws and publ.-hed
execution of this decree, which shall be insenca
in the Journal Officiel. ’ 1Qrtn
Made at RambouiUet. September 24. 19
By the President of the Republic A Faujeres
The minister of finances.
The minister of commerce and industry .
The minister of the colonies.
Georoes Cochm*
Jba s Durur.
Georc.es Trocuxot
216
REPORT D ERECTOR OF MINT.
[Translation-]
ITALY.
Answer* to interrogators*, 1906.
1. No gold was coined during 1908. Of the gold recoined there were:
40-llre coins . .
40-Ur coins . .
■Vtln coins .
0
All of which were national coins.
2. The silver coinage during 1908 was as follow’s:
4,404,212
1.754,70*
During 1908 silver was recoined as follows.
24ii> picm .
l-tir> pieces . . .
Lira.
161,056
*•7,386
All coinage made in 1908 was issued by the mint at Home.
X. No coinage was executed for foreign countries during 1908.
t and 5. As th«*re exists no provision* of law in r«*gard lo the working of precious '
metal* (the free regime being still in force, by law of May 2, 1872), there is no way of
answering these questions.
0. 7, and 8. The statistical data relative to imports and exports of precious metals
during the year 1908, clarified with regard to the countries of origin or destination,
including the I’nited States, is given as follows:
GOLD.
106
1,906
90S
Silver coin:
Austria-IInDgary...
France .
Germany .
Gibraltar .
Oreat Britain .
Malta .
Montenegro .
Switzerland .
European Turkey. .
REPORT DIRECTOR OF MINT.
MILVEIt -Continued.
217
9. Amount of United States gold coin deposited at mint and melted: None
10. Tho product of line gold from tho mines of th*» (iovernment during the year
1 90S was 70.153 kilograms, with a commercial value of 241,115 lire. I* the re¬
ports concerning the gold mine* in the colony of Eritrea (exploited by the ^
Eritrea per le Miniere d’nro) residing at Asmara, referring to tne year ending
ber 31, 1908, it appears that the production during the of Januarj;, Febnwy.
and March of said year was 5,845 kilograms, with a value of 18.002.78 Italian Mre
11. The product of fine silver from the mines of the Government durrng thi year
1908 was 23,439 kilograms, with a commercial value of - .036,615 lire-
12 The weight of the output of gold from the governmentrcfincnee dunng the
year 1908 was 141,279 kilograms, with a commerrial value of itofinuro.
13 The weight of the output of silver from the government refiner o. during
y*?f lurin’ md’bSlS) ta the countiy
y of gold
Gold coins making part of the appropriation fund at the Uank of July for ih 75, M7 -JB*
provincial treasury' •• •- *•**■???
owns imiKiUK i tn uu — - 7 iiou 000
A coin,, nothing a part of the above appropriation f,'IJI*n^: M d at uie mint *0, 231. 1 13
Gold coins at the control treasury, at Aaroara (colony of Eritrea;, ana 3*3,047
Gold bullion at 1 he mint . ~i~l'oci.PW
Total " _
Thimi aro b«ld.*t at the govcmnmnt bank of deposits and loans as a guaranty ' 152, 500, W0
JfZim, « now lor m opramtioi am a**** ** *u».m
NttP,,a 177,077,710
SILVKB
HllmoomscxUllnuin the aecUous of *n**ury' Uui* P°rt of ,hr “
of Italy for tho wrvlc« of tho provincial treasury
bcudl (5-llro pieces ) . .
Jttsts sar awaritmsSB ss • *» p— «( »— -*—
-j *• *
Coins ol the c-antral treasury, at Ibo treasury at Asmara too J . .
8cud! (.5-Un> plx-fs) rK„r^, thAlcrs. etc
I and 2 Urn nl.«vs of
•»* uu irmrui wiw>|Oi »■»«' - - -
8cudl ( VJlrv pieces! • • • . • Marli^T herosa thalers,
1 and 2 lire pl.ora of Italian or foreign colnas; ,
Bullion at the royal mint
70.415,515
2.7KI.M4
2,010,027
», 205.780
2,743.120
ft*, 746
h7,1 50. 133
Total
218
REPORT DIRECTOR OF MINT.
Values op Gold and Silver ,n the Banes which have Authority to Issdr Cur-
RENCY NOTE8, ON DECEMBER 31, 1908. *
Coins having toga] currency .
Coins having no legal currency, and bullion.!
®CQdJ (Wire pieces) having legal currencv a son
1 "2 2 lre torini le«S currency* •
Funds not apporUoned .... y .
Bank or
Italy.
Bank of
Naples.
Bank of
Sicily.
Lire.
77.rt. 39S, 830
lofi, 710, 003
Lire.
1V>, S54, 3S5
5,707,835
Lire.
54,379,090
522,580
102.145,733
101,052. 220
55.OOI.5Sf.
104. 740. OiO
5,520, l»ftj
•77,048
14,781.090
2, 792, 038
8,320,875
<569,447
110.25(1,423
17,573,128
3,990,322
amounted to 435,671,090 lire. The amount °D Jhe 31st °f December. 1908.
were not covered by lw»l-t*nder raid Dote* outstanding which
18 an,. 10. The
For the Bank of Italy . . Lire
For the Bank of Nanlo. . . . 3sfl 7so
For Uto Dank ol slcllv . . II.II"!;; SSJftg}
Total . . 81^ MO
at the end oMaS, *Je^ulation not covered by a coin reserve, or protected by law,
For the Bank of Italy Lire.
Total . . . 3»’344,024.83
latbn of 'the countty^v^'roDiDMetro. eold^'f*10 >'e".1910». the IsRa.-tender eircu-
glo^Mid government hank paper1™ronHn'Cker’ 8“d bronz,‘. <w ordinary
22, 1894, the conversion into coin ,,f ilntF ^ tender. In virtue of the law of Julv
The banks are obliged by law to chance C 71?1°nt and bank: 00409 was suspended
amount of the rat? of /xchlng^^ with the only addition of the
unnotic^ble on account of the insignificance of the1 aodltion is almost
21. lu the vear ions tb.. ^ l|,o*nte oi tne rate of exchange
10001 Ure ,or
to i6 lire pop capUa the c°nliniront of divis'ioMlr,rfi h 7? MMuWBted from 7 lire
?o.m. which, with Article IV, letter " au? the of April 5, 1008,
«» PfMdih ■“ thC <iovenuTO“‘ P«"*«
rr/o-r 'JCV,tru i'o. zz, of January 15 L,it* new type of silver coin
com (20-centimo). uary 16’ 1W)*, wbich approves the new type oftdekei
“S r : “■ “ ”“•* ■*• *“ «— » ... “
'«*• “ «™ ™™.y «.
decree No. 279, of Juno 4 190ft fr,r tu *
SSy pi0C0P into 200,000 lire in °f 300 'im «» in 10-
^or pa ercuron ' °Cea copper pieces, and 100.000 lire in
Law No. 388, of Julv 5 loov » u-t • •
printing itniut!,* ba/k “d «*"**« of
REPORT DIRECTOR OF MINT.
‘219
Law No. 723, of December 24, 1908, for the prorogation of the legal currency hank
notes and for the approbation of certain agreements between the treasury and the
Bank of Italy.
Royal decree No. 100, of March 8, 1908, which substitutes for the 25-lire government
notes" in circulation for an amount of 2,490,350 lire government notes of 5-lire for the
same amount.
23. There are no special reports published about the operations of the royal mint
MOROCCO.
Answer t to interrogatories, 1908.
1, 2, and 3. Amount of gold and silver coined and coinage executed for other govern
ments during calendar year 1908: None.
4 and 5. Amount of fine gold and fine silver used in industrial arts during 1908.
G and 7. Imports and exports of gold and silver during 1908: None, either imported
**8 and 9. Amount of United States gold coin imported and deposited at mint and
melted: None. . , , , . , ..
10 and 11. Gold and silver produced from mines of the country or colonies of the
country during 1908: None; no mines of any kind exist in the country.
12 and 13. Output of gold and silver from refineries of the country during 1903
N°140' Approximate stock of gold coin and bullion in the country at the close of the
calendar year 1908: There is no gold in circulation nor in stock as far as known.
15. Approximate stock of silver coin and bullion in the country at the clweof the
calendur year 1908: Impossible to give an exact amount; approximately 6,000,(Miu
Moorish silver and 1,000,000 Spanish dollars are in circulation in Moropco.
16 and 17. No government notes in existence.
18 and 19. No bank notes exist in Morocco.
2l! Premfum on goid^during 1908: Highest, 164 per cent; lowest, 149 per cent,
^lows^Mcept^the Koran exist in Morocco, the Sultan being absolute, and no
such laws exist (affecting the currency).
23. No mint exists in Morocco.
NETHERLANDS.
American Leoation,
The Hague. June t8. 1909
Answers to interrogatories , 1908.
1 Amount of gold coined during the calendar year 1908: Gold ducats were coined
to a nominal value of 51G,914.08 florins ($207,799.46), h>w»t, 91,066 pieces.
^2 Amount of silver coined during the calendar year 1908: Silver pieces were c omed
to a nominal value of 7,500,000 florins ($3,015,000), to wit:
Guilders for the Netherlands . 3,000,000-^=^
. . 1,700.000- 688,400
Guilders . . ... . 2,ouo,noo- 804,000
Half guilders. . . '00,000- 201,000
One-quarter . 300,000- 140,(00
One- lentli ruU tiers . . 1 -
. <14,500,000 1.800,000
The necessary silver being obtained from melting down of large silver coins U> the
amount of 7,491,202.445 florins ($3, 011, 463.38).
3. Coinage executed for other governments dunne 1908: None,
a and 8 The ouantitv of gold used in industrial arts may be estimated at 873
^ o/L»° that of silver at 14,094 kilograms of fine silver Whether
this was obtained from new gold, old gold, or coins can not be stated.
a For the Netherlands Indies.
220
REPORT DIRECTOR OF MINT.
« and 7. Amount of gold and silver imported and exported during 1908:
Imported*
Gold coin .
Gold in bar*, eb
Gold ore .
8Hver eoln . .
Silver In bar*, ete _
Silver ore. .
Florins
11.(00, 415
1.221 .040
H4H,34«
1,170, <71
423, 000
1.0)0
u.iM.zn
401,223
241. <Q5
470. CIO
170.04f,
603
Exported*
Florins
370. 61. S |
7.000
i&.m
9,avs,5nj
12,032
1.200
11.53, 5M
2, 814
1H, 430
3.641,541
5,IW
lRiTXJ^^lSSl£r °mrial "taU,,1‘’* '° Wh,rh- "***9 export* are itimwnel,
«■ feE «! Vni,W! ?UI*‘S rld , <MU d,mnK 1008: Not known
in in n g°i <, « °,nd<l"*ited ut mint and melted: None
Amoral i . P°d. production of the colonies in communicated diroctlv to the
°* 7loniet,r The f ^ production SS&££.
\a AnimTimit . , ? 1 J an,(irtlhor frt*,T1 •'•fineries during 1908: None,
endir vJIriftnJt ? * °f <*Mn a“d bullion i» the country at the close of the cal-
the end of the year l»08 there was imi 1 fry C-ID aod cof cable material. At
***** ^‘nst the sum of 292,985,000 7 n7‘J 1 9.48 1 w,,r*h °.f m°Ul in
20. Actual currency of the counirv- Tb« v7,.L 9'i °. l-ank not<* ,n circulation.
Gold is the standard coin Silver t^onl y be ^ined ntilf ,C?I“e# ? ^ld and ail vt?r
silver coin is legal tender to anv amount ^ °f tho State. Largo
country. ^ There is no unchangeable paper in this
21- There is no premium on gold in this country
T1 in ™ affec‘iuR the currency
Tho report or tito miBt -rent annually to tho MimBureau at Wuhinfrtoo
Bank of the Netherlands, 1908-9.
(From Brink on, and Agent*’ Magailnr. London. October. IMM1.|
STOCK OF METAL.
rajlically alkfr£dl° Our" rtSJTblK of^dtud dTd*1 ’ which h“ bw?n gradually and
which X9, 579.(39 1 was gold and SLA 054 {nJurls tt "“ount«1 to jOS.633.7] 1, of
a.«r^
^eN^theri^ThL0 >^r 1 ^ situation of the Hank of
' especially with regard to foreign countries
OOLD IN UAHS AND FOREIGN COIN
,or. and wo JrehSTdlni onto ^Id f*wW“ “° lo"K',r hold uneomod «U-
""" „r xo.uso.vtM „n a-Afc»MBK
REPORT DIRECTOR OF MINT.
221
creane of £1,859,578 in the course of the year, of which the following statement of the
general movement of bullion shows further particulars:
General Movement op Bullion in 19(XS-9
[Kilograms metal fine; value, my, £137 3a 10d ]
The gold and silver m0??y in thebalance do-el in a total
various olfiooa are, under th« hvaadjnp. add' 1 “B (MC|, o( x2.57-t.51-t in gold, which
On the other hand our stock of silver money again
the bank and at other places, based on tb , , ^ m-Ql table has been left
but after consultation with the controller^ ^ quantities of coin lost and used m
out, because, in default of rehable dau as correct As a matter of course the
industry, we can not be certain that its fi^res are c rrec of java are known
quantities of coins held in the Netherlands Bank and
exactly, and together show the following k
Dutch gold
in out y
1888.
1800.
1805.
1900 .
1905.. ..
1906..
1907.. .
1908.
1909
NOTES.
.. vear £388 278 higher than in
The average amount ofuori* m %$£££*«& &*.?&*«*
November 3. ^e Jdwe-.he — m
)f the vear was £21,009,750 on J ne ^ faat ig about 16 ^1*’ h been on
ind the maximum being newly MW to 1908-9. this difference no*
agure. During the last ten years, i*'"
in average £3,092,336
222
REPORT DIRECTOR OP MIST.
The circulation, month by month, is as follows.
Data
£22 M2. 560
2i.7U.fln
21.222.000
22 2M.C7
21.56C.M5
2l.Ma.4K
ZMM.U7
24.0C1.U5S
23. 199, 546
February . .
Uarcix... .
a <m.*o
a.in.«8
NORWAY.
Leoatxox of the Ukttko States of America,
C'knjtumia, May IS. 1909
.lancer* to tnUrroyaioria. 1906
1. No coinage erf gold was performed during 1908.
2. Of silver there have been fanned 580,000 kroner, whereof 400,000 kroner m 2-krone
pieces and 180,000 kroner in 1-krone pieces.
For this purptee Norwegian coins were re melted to a total amount of about 36,700
kroner, wh<Teae no foreign ruin was employed No coinage was executed at foreign
mint;
3. No coinage cu executed on behalf of foreign governments.
4 and 5 .Vs to the weight and value of any gold and solver employed for industrial
purposes information is not available.
6 and 7 According to statistical records gold and silver was imported and exported
as follow*
REPOBT DIRECTOR OF MINT.
223
ClauitkaUon sod coon try
Im porta.
i Exports.
slvui -continued
Coin* and modal*— Continued.
Belgium . .
England .
Kroner.
276
114
663
SO
Kroner.
Pram* . .
Italy .
K . . .
1,600
Total .
342,401
423,500
Umnanclacturod aUver
Denmark .
823
Oermany .
7GB 860
Austria ...
’ IX
Total .
790,747
8 and 9. No coined gold was during the year imi»orted to the realm from the United
State* of America.
10. The production of native gold during 1908 is supposed to have been insignificant.
11. The Kongsborg silver mine* produced from April 1, 1907, to March 31, 1908,
7,035 kilogram* of fine silver. No other mines have, as far as it is known, been under
regular exploitation of any significance.
12 and 13 Output of gold and silver from refineries of the country during 1908: No
reliable information is available regarding gold output. The produce of the Konga*
berg silver mines .(under No. 11) brought in L>v sale 498,375.05 kroner.
14. Approximate stock of gold, coin, and bullion in the country at the close of the
calendar year 1908 The only information available on this point is. that at the expira¬
tion of 1908 the stock of gold of the “Norges Bank” deposited within the realm
amounted to about 29,331,600 kroner Besides this, the bank had claims to the
amount of about 2,388.100 kroner on the Cojienhagen National Bank and the “Riks-
bank” of Sweden, and, moreover, about 16,536,200 kroner in values deposited with
agents abnwd Tne total stock erf gold of the “Norges Bank amounted accordingly,
un December 31, 1908, to about 48,255,900 kroner. ,
At the some dale the quantity of coined gold amounted to a total of 1/, 117, 120
kroner, whereof 2,430 kroner had been called in as depreciated by wear and other
^Approximate stock of silver, coin and bullion, in the country attheclose of the
calendar year 1908: The onlv information availatde on this point is that the value or
silver coin in circulation amounted to 11.951.657 70 kroner, whereof, on December 31,
1908, 1,505,170 kroner were in dep<*it in the head office of the treasury.
16 and 17. The Government does not issue note*. , r„rimanntnd
18 and 19. The notes of “Norges Bank" current
an amount of about 72,812,900 kroner, whereof about *4, 55/, 00 0 kroner were in excess
The country Go.d i. a. pr»ent the .taodaid currency o, Ore
''^'/'’'Premium on cold: The monetary unit iJ 1 krone, conwpondmg in point of
1007. to March 31, 1908.
PORTUGAL.
American Legation', Lubon, June i, 1909.
Answers to interrogatories, 1908
4 indiwtrial art, durin* .908: No anawer
obtainable.
224
REPORT DIRECTOR OF MLNT.
6, 7, and 8. Import* and export* of gold and silver during 1908
IMPORTS.
9. United States gold coin deposited at mint and melted during 1908: None.
10 and 11 . Gold and silver produced from mines of the country during 1908: None
12 and 13. Output of gold and silver from refineries of the country during 190S
None.
14. Approximate stock of gold coin and bullion in the country at the close of the
calendar year 1908: 7,984,002 milreis, besides pounds sterling which have legal
tender, but which can not be calculated The amount of gold coined from July 29,
1854, to 1908, is as follows:
Mtlrrts.
Coins of 10-mllrrij . . . . . 1.K31.QQ0
Csifii of 5-n>itT2b . . . . 4,923. SIS
CjIu of 2-tnllr.Hs . . 1,101.400
Coins ofl-mllreU. . . . . . . . . «, 057
15. Approximate stock of silver coin and bullion in the country at the close of the
calendar year 1908 : 34,380,436.400 milreis The amount of silver coined from July
29, 1854, to 190S, is as follows:
Coins of 1-milrHs.
Coins of SOO-r^ls. .
Coins of 290-rels.
Coins of KTVrrts. .
Coins of 50-rcis . .
Mitrris.
I. rao.ooao
2,972.049-0
945.270 0
175.S22.2
16 and 17. There are no government notes issued.
18 and 19. Amount of hank notes outstanding at the end of the year 190S
70,162,028.875 milreis. None covered bv legal-tender gold and silver coin and bullion
20. Actual currency of the country’: Silver and inconvertible bank notes.
21. Gold is at a premium of between 22 and 16 per cent, which were the highest and
lowest during 1908; the average premium was 18 per cent.
22. No laws were pa-*«*d during 19US affecting tne currency.
23 No report iB published concerning the operations of the mint
REPORT DIRECTOR OF MINT.
225
(Translation.)
The New Portuguese Coins.
(From L' Economise European, November 13, 10US.)
They are now hastening the coinage of the new Portuguese coins, and the> think
there will be very little delay in putting the new 500-reis pieces in circulation.
The new coin bears upon one side the effigy of King Manuel with the legend “ Eman¬
uel II. Portug et Algarb Rex,” and upon the other side the royal arms and designation
of the value of the piece
They calculate that the total coinage of the new coins can scarcely be finished under
two years There are to be struck 1,100 contos of reis,« in nieces of 50, 100, and 200
reis, divided as follows: 2,500 contos in pieces of 200 re ls ana 1,000 con toe in pieces of
100 reis. . .
Both denominations are to be of silver of 0.835 fineness; besides 600 contos in nickel
pieces of 50 reis. , „ e _
They also give notice that all the piece* of 200 reis in circulation shall be retired and
recoined into piece* of 500 reis; they will also retire the present coin of 20 reis, from
which there shall be coined 100 contos, in piece* of 10 reis; and 50 contos, in pieces of
6 reis
[Translation.]
ROUMANIA
Coins Struck During the Year 1906
[At the royal mint of Barium, at Brussels.]
Description and denomination
I Number of
pieces.
of December 10, 1006:
In 20 lei . .
in so lei . .
(ft) Co Ins's truck by virtue of the law sanctioned by royal decree No. 2250 of May *1,
1006: . .
In 1250 lei . . ...
In 25 lei . . ....
In 60 lei .
Total.
a ) Jubilee coin tor the coi
M Sleety King Charles I:
In 1 . .
In 6 lei .
B. SOA K*.
memoratlon o I the fortieth year of the reign of Ills
C, NICKEL. •
,.) Coin stnick lb M* lor lb. mkn of Hombnr, b, rim.. « . U. «**■"<* *»
In 20 banL
In 10 banl .
In 5 bant .
Total . . . .
(») Coin rtniek b, Tlnue ol lb. lb. bj xqrl <i«r» No. n. U D-oo-
ber 24,1005: .
In 20 bant . - . .
In 10 bant . . . .
In 6 banl. .
Total-
15, 000
8.000
3,000
32.000
24.000
30.000
3.000.000
7. 000 0®
4, U00.000
400.000
fOO.OOO
1,000 000
500.000
1,796,000
1250 000
wo 000
1. 700.000
1 200.000
44,000.000 3.500.000
1,0006000.
19711—10 - 15
of reckoning, and
s, is written thus:
226
REPORT DIRECTOR OF MINT.
Coin Retired raoM Circulation in 1906.
Description and decani inatkm.
Worn silver oata
A. save*.
which wu cued lor the coinage of the Jubilee coin*.
n struck by virtue of the l»w a
No 14% of Man* 21. 1900:
ictioned by royal decree
C. BROfcZZ.
Coins retired (roar, circulation by virtue of the law auctioned by royal decree
No. 2119 of Aprils, 1906:
In l banL . . .
In 2 banl .
Number of
pieces.
Non Inal
value.
Lei.
1,700,000
. 20,000,000
. 15.000,000
. 2,500 000
1.000,000
1,500,000
500,000
. 27,500.000
3,000,000
. 7,000,000
. 6,500,000
70.000
130,000
. 13.500.000
200.000
Brume ruins of 5 and 10 banl, totally retired from circulation, which were found
to haT* a value of . . .
Ehninr the year of 1M6 all the bronie coins ol 6 and 10 banl, and the non perforated nickel coins were
retired from circulation.
^ Thy bare in trod oewd new coins of 100. 50, 26, and 12) lei. the coins of 20 and 10 lei having already ban
[Translation.]
Issue or New Coins.
[From “ Moniteur Commardal Ron main,” official or ran of the administration of manufacture and
The minister of finances has placed before the bureau of the chamber of deputies
a plan of a law relative to the issue of new silver coins
Following u an exhibit of the reasons which pertain to the object of the law:
The fractional silver coins put into circulation up to date amount to 89,436,608 lei,
namely:
FheW places coined In—
188© .
URL .
. 9,000,000
. 20.00u.000
. 5,500.000
. 11,501.000
. 1,500,000
200,000
cmonetlxcd In 1890, the data on which the {old standard WM established and afterwards a
account of wear . . . . . . . ,
Remaining...
Total.... .
Demonetized In 1900 and 1900 on account of a
. 10. OKI, 00
. 179.968
KKPORT DIJfcCTOB OF MINT.
227
1 lWoataRMDlofvw
UL
4«»,«»
9, Ixj noo
. l,wo,oao
i.oon.tno
400,000
j vn.ooQ
§ m
2. MM, 000
I7,S7R,M»
2. Ml, MO
mr-Nrirt pW** estawl lo-
M7J . .
1M1 .
Of lb#* t'Aal of 89,436,608 coins *tru< k, 29,936,606 have been retired; there still
r«mkiM 60,600,000 This amount represent* the value of the coins remaining in
circulation ...
The w<*ar resulting from t be prolonged use of a large number of these coins, both
in !'*■ of weight and those on which it is not potwible to any longer distinguish either
the indication of their >*luc or the anna of the country, in consequence of which
the public can be easily deceived and the coming of counterfeit coin rendered easy.
If all this coin could be found in circulation to-day it would not be sufficient for
all transactions That insufficiency is added to by the dimppearance, under various
circumstance*, of a good portion of the coin, as well as by the drifting off of a large
amount to foreign countries. . , ,
All of these corns are to be retired from circulation and demonetized, but not
the Vlei pii-ccw, which have r«-*isted the wear and may still, according to the condition
in which they are found, circulate without inconvenience.
The coins most worn, on account of age, are as follows:
Those of 2 lei, struck in 1873, for a value of 12,600.000 lei; those of 1 leu, struck in
1870, 1873, and 1884, for a value of 11,380,000 lei; and those of ^ ■£’“£5 !n
1873 1881, and 1884, for a value of 4,400.000 lei. a total of about 28,280,000 lei in
worn coin, which are to be retired from circulation , .
It is very probable (hat there exists in circulation a great deal of worn silver com
imijhI later, und on the contrary, also, of pieces coined at times above staled which
arc not worn . For those rt-asons, therefore, tbev will take into account in the demone¬
tization the degree of wear in preference to the date of issue.
'Hie retirement of tln*e coins will necewutato a new issue which will, on one hand,
replace the value of those demonetized and. on the other hand, cover tho expense
of the coinage
ur./l thi. difference in value to cover the expense of coinage.
^Theraw nieces shall have Lhessnie fineness, w.<-*6ht, diameter, and totajanceprovided
u> Oi* SUSSTl.* !i' Mln*'!*, W0, mdlUii mniunn U> the condition. crt.blwh.Hi
by IJ|,. Ulia MoartMyJ cojM b, m»dc only
■n... prynt pl»» ’S, „,X m.Uri.1 in lh<« demonrtW.
II. j;r..|».rll..n to tt»dr*OM a » ( (arl th„ tmumfoclur,. mart W, (ur
1 1 !iji'irtnIfl*OTM««d by*thc price nf the nuucrud in the coin .wired frnm circulation,
whlc„
Th.. rtr.kinK of then— coin-, *■ ^nt^Tin m.rh manner rt.d
m.nirt^f finance. . . . . . «d with th. »ppruv*l
iif the council of ministers
KIBCIOA or ME5T-
RrSSlJk
REPORT DIRECTOR OF MINT.
229
2. Amount of rilver coined during the calendar year 1908
Coins 0.900 fine:
1-ruble pieces to the nine of . . . . 130,409. 00
50-coperk pieces to the raluc of. . . 20,054. 60
Cotas 0.500 One
jrwropo k pistes to the value ot. . . 1,000, 00L80
IVcoperk pieces to the value of . . . . 4.3.V) orjl. 35
UKropork pieces to the veiue of.... . ... 831,005 9p
6-ooperk pieces to th- value of. . . . 30,00545
There were moiled at the mint Ru**ian rilver coin.-* of 0 900 fine to the value of
124,051 10 ruble*, and of 0.500 fine to the value? of 1,633,391 65 ruble*; and silver coins
of Bokhara containing silver to the value of 30,024.87 rubles, and gold to the value
of 285 91 ruble*
For the coinage mentioned above there wa* employed, together with other silver/
that derived from the melting of Russian rilver coins, especially—
Rotta.
Coins 0.900 Am to the value of . . . . . 109,052. 45
Coins 0_<00 fine to the value of . . 2,133,939.71
With this rilver money 0 500 fine was coined to the nominal value of 2,349,799.00
ruble?* (Thi** sum is, of course, included in the figures indicating the amount of
coinage^ during 1908.) No Russian money was coined in foreign mints
3. No money wi« coined in 8t. Petersburg for foreign governments.
4 Fine gokf used in industrial arts during calendar year 1908:
There were presented for stamping objects of gold of Rurvian manufacture, weigh¬
ing 41C poods, 37 pound?, 7 zolotniks; of foreign manufacture, weighing 62 poods 41
zoiotnik** Borides, in the manufacture of medals, etc , the St. Petersburg mint used
25 poods, 27 pound**. 46 zolotniks. 54 dolis of fine gold.
5 Fine silver used in industrial arts during calendar year 1908
There were pre-ented for stamping, objects of rilver of Russian manufacture, weigh¬
ing 7,501 j>ood. 19 pounds, 29 zolotniks; of foreign manufacture. 277 poods, 1 pound,
7 zolotniks. In the making of medal*, etc , the St Petersburg mint used 54 poods,
24 pounds, 89 zolotniks, 66 dolis of fine rilver
6. Imports and exports of gold during 1908'
Exports.
Description
Weight
Value
Weight
Value
Poods.
734.8
35.0
8-6
RobUs Foods.
U.M.noo 710 4
413.000 as
163.000 as
FobUs.
14,907.000
9.000
06.000
Ruwlanwln . . . .
Foreign coin . .
7. Imports and exports of silver during 1908:
DfWrtpUon.
Imports. Export*.
Weight Value. Weight.
Value
Foods RssNss.
. . . . 15, 961. 7 9,079,000
Ingots . 77 4 40 000
SSSSS..... :: :::: :: «£•
Poods
6,446.9
at
403 4
RmHa
3,007,000
8,000
307,000
k and <1 According to information given by the customs outhuritiee, there were no
imports of Am^^d coin into Rumia. American gold coins were melted or
■“"« ol thp couDtr>' “d col<mi** 01
thT^o'fonoiritLRlqu»nliOM of (fold (fine) were presented
[tan*.
Poods.
I,8S1
Pounds.
22
“ E'^'^’SiSlnwo.e -d « u» -dm uedd "n U.W
34
0
03
230
REPORT DIRECTOR OF MINT.
The information available as to the production of silver is too incomplete to be
given; the production is relatively very small. .
12 and 13. Output of gold and silver from refineries of the country during 1908:
The quantities of gold treated at the mint yielded 1,788 poods 20 pounds 39
zolotniks 6 dolis, fine.
The quantities of silver treated at the mint yielded 512 poods 19 pounds 83 zolot¬
niks 21 dolis, fine. # . .
14 and 15. Approximate stock of gold and silver coin and bullion in the country at
the close of the calendar year 1908 .
On January 1. 1909, the value of the gold in the vaults and safes of the state bank
was 1,218,083,008 02* rubles.
On January 1, 1909, the value of the silver (0.900) in the vaults and safes of the
state bank was 42,070,897.95 rubles.
1G and 17. There are no Government notes, the only notes in circulation are issued
by the Imperial Bank of Russia, which has the exclusive right of issue of notes.
18 and 19. The amount of bank notes issued by the Imperial Bank of Russia at the
end of the year 1908 was equal to 1,087,200,000 rubles, the total of the issue of notes
at the same time being 1,200,000,000 rubles, and the reserve of notes 112,800,000
rubles. There are no bank notes outstanding not covered. The gold stock of the
Imperial Bank of Russia on the 1st of January, 1909, was equal to 1,218,600,000 rubles,
whereas at the same time the amount of outstanding bank notes requiring to be cov¬
ered (in accordance with the monetary' law of the 29th of August, 1897) was equal to
787,200,000 rubles only, this latter figure being the result of subtraction of the amount
of bank notes which do not, in accordance with the above-mentioned law, require
to be covered (i. e., 300,000,000 rubles), from the total amount of outstanding bank
notes. It will be seen from the above that the gold stock exceeded the outstanding
notes, as in accord with the acting monetary law, to the amount of 431,400,000 rubles.
20. Actual currency of the country. On January 1 there was in circulation:
Gold. . .
Silver. .
Credit not** .
500. 800,000
110,200,000
1.087.200.000
21. There was no premium on gold in bullion or coin.
22. There were no new monetary laws.
23. The mint publishes no report.
Note.— One pood=» 10.380496 kilograms, 1 pood=40 pounds (36.112808 pounds,
avoirdupois’!: 1 pound=96 zolotniks: 1 zolotnik— 96 dolis.
SPAIN.
American Legation,
Madrid , March 25, 1909.
A nmers to interrogatories , 1908.
1, 2, and 3. No gold or silver was coined and no coinage executed for other govern¬
ments during 1908. b
4 and 5. Weight of fine gold and fine silver used in industrial arts during the calen¬
dar year 1908' Not known. *
6. Imports and exports of gold during 1908
ClasslflonUon and country. Imports.
GOWF^D°n: Cram,
Frano° . . - . .12,000
Pe*tUu. draws
187,200 6, G00
; Pfuttu.
23,700
Gold coin:
Argentina . ...
Mexico . .
500,000
1,000
Fernando Po . JU
France... ... . .
Portugal . . .
85,300
53.700
900,000
i 12, 960
171.840
3,072,000
. ToW . IRA,. 100
801,000
1,049,000
3,366,800
REPORT DIRECTOR OF MINT.
281
7. Import* and exporta of silver during 1908:
d country.
Imports.
Silver bullion:
Canary Islands. . . .
Belgium .
Franco .
Groat Britain .
Holland .
ParUu Oram.
Oram
6,000 650 .
58.000 7,450 .
27,959,1)00 3, 634, 070 110.300,300
. . I 5,702,000
14, 351, 000
741,377
506,000 65,780
230,640
163,400
515,200
Total . ... . 28,022.000 3,642,770 116,608,200 16,150,066
Silver coin:
Canary Islands . 435,230 87,046 .
Fernando Fo . 288,000 57,600 1,198,200
Mellila . 681,000 130,200 817,000
Algiers . . . . 2,576,000
Germany . 5,000 1,000 .
Brasil . . I 30,000 6,000 .
Cuba . 14,066.205 2,811,253 5,673.000 1,134,600
France . . <03,800 126.760
Gibraltar. . 12,725 2.545 600.000 100,000
Great Britain . 11.97.5 2.396 . ' .. ......
Italy 9,770 1.954 40.000 8,000
Morbcro . . . . | 3. 401, 145 | 480,229 | .
Total . I 17, 991.110 3,586,222 , 11.438.600 , 2,287.600
8 and 9. Import of United States gold coin, and United States gold coin deposited
at mint and melted during 1908: None.
10, 11, 12, and 13. Amount of gold and silver produced from minea of the country
and output from refineries of the country during 1908: . .
No gold was produced in Spain in 1908. The silver produced in Spam in 1908
amounted to 129,881 kilograms; its value at the mines was 12.6C3.803 pesetas The
production caiue from the silver mines of Iliendelaencina (Guadalajara), and from
argentiferous lead mines. .
From the Spanish possessions in Africa no production of silver is reported.
14 and 15. Approximate stock of gold and silver coin and bullion in the country
at the close of the calendar year 1908: Gold does not circulate in the country owing
to the fact that it is at a premium over silver and bank notes. The Bank of Spain
keeps in reserve as a guaranty for its notes, 420,127,707.44 peseta* in gold and
52.962.791.17 pesetas belonging to the public treasury. The other banks nave tnia
metal only in amounts of trifling importance. ... , .. ,
The silver which circulate* in the country in money and in bars deposited aa guar¬
anty amount* approximately to 920.000.000 pesetas, of whidh the Bank of Spam
keeps in its vault- a- a guaranty of the notes it ha- issued, G09, 991,986 .28 pesetas.
if 17 18, and 19. No paper money has been i-«*ued bv the Government. Amount
of bank notes. l,645.0301025_peaetas. issued by the Bank of Spam, which alone has
authority to issue note* Trie amount of bank notes in circulation exceeds by
414, 864. $31. 28 pesetas the metallic reserve (gold and silver), but the securities on
Hon’mit more tnan cover this amount.
If1 Actual currency of the country: Over 2,900.000.000 pesetas. * m ~n
21 Sum” god: The highest price w*, 14.80 per cent; the lotre*. 10 ,0
per cent; and the average, 12.75 per cent during 1908.
22. Laws passed during 1908 affecting the currency: None.
23. No report on the operations of the mint was published.
SWEDEN.
American Legation,
Stockholm, May 17, 1909.
Answer* to xnlerrogalorie*, 1908.
melted:
Denomination
Number of
pieces-
20 crowns -
10 crowns. . .
5 crowns .
Value.
Cmcn*.
40
‘S
Total.
232 REPORT DIRECTOR OF MINT.
2. During the *m(* year the following amounts o i ttlvw won* coined:
*• KOB l. US. 00b
During the year the {flowing Amounts of worn and mutilated Swedish silver coin
were m el led: _
ru L«aM»
a lb' t,moo
H.Ot* 7. J10.CV
No coinage for Sweden at foreign mints
3. No coinage was executed for foreign government*
LA1 700 finc ‘TJd ^ *M)00 kilccrams of tine diver was
“L*! 5"^ ^ f* mdu-:?“ purpose.. It IS impossible to state how
much of this was oW gold, gold coin, old silver, or silver coin.
6 and , . Imports and exports of gold and sihrr during ISXXv
Imports.
Wdfht. Value, W right.
Gold nan . „ . . .i _ ».21» X* ”"FW”
SSSSS1^::- •
Wmwhtpokl (wire) . Id
Oiber wrouutl foM . 146 j
. m' tn,a T~~. I
— f —
SltTweiMB _
Wwgtestwr . . . ** 1 — . ue -
Rk* L . I 179
Other wrought slim . " s,S . .
Total _ — - j . *C— V . .
_ . 1,841 **•** ** .
r ms,,m roin
mines (4 Sweden in 19^Tho T^ue ? !5 tom the
the value of the remaining 30.?°1 kil.^n Aio o-AV ***** whs not given, but
11 Silver produced during l‘J0S \ HI .^weden has no colonies,
the mines of Sweden in 190? The value of 4* 04 W*V*f W*JI Pn*lu,'«>J. from
b»l <ho vdu, of the rom.inin* *“ “ «*"«•
233
REPORT DIRECTOR OF MINT.
14. The approximate stock of gold in Sweden at the close of the year 1908
Crown*.
- 85.38J.095.00
. 44,0*1, *95 00
13,000.000 00
OoW rain struck in Bwwlen since the introduction of U»c coin reform of 1873.
Qoid (Scandinavian) held by the banka atcioM of luos
Gold coin in circulation at ckm» of 190$ .
Bum total of all current coin in Sweden at ckwe of 1906
F o5^S**°W 00,11 "°l curnmt iu and gold bullion beid by
Total..
tha banka at the dose
5ft, 081, 495. 00
54, 503, 007.95
. . . . 90, 534, £02. 95
lUcS^TlilOS1^ thC appn,xlmilt<l vmlu<‘ of 8w®den'8 *ock of gold, coined or uncoined,
15. The approximate stock of silver, in coin and bullion, at the close of 1908 was as
follows
In circulation, about .
In the bank! aud the mint . .
i, ate . in mint (sa
* value as coin?.
Crowns.
- . 27,200.000
. 4,397,100
. . 870, 000
ToUl . 32,407,100
16 and 17. The Government i^ues no notes.
18 and 19. At the close of 1908 the value of the notes of the Swediah Riksbank in
circulation was 201,489,727 crowns. Private banks have long ago been deprived oi
the right to issue notes.
The amount of uncovered bank notes in circulation, that is to say, bank notes over
and above the value of the stock of gold in the vaults of the Riksbank amounted, at
the close of the year to 123,293,568 crowns. In this amount are included the bank
notes which the Riksbank is entitled to issue against balances on running account
with foreign banks, and other securities.
20. The standard currency of Sweden is gold. Subsidiary coin of silver, or bronze
is legal tender only for very small amounts. All notes issued by the Riksbank arc
redeemed in gold on demand.
21. There is no premium on gold in Sweden
22. Law passed in 1908 affivting the currency of Sweden hereunto annexed.
23. The annual official report of the director of the mint is not printed.
SWITZERLAND.
Americas Legation,
Berne, March fff, 1909.
Atuvers to xntmogatoriet, 1908.
1. Amount ol gold coined during calendar year 1908
Coinage.
IW<.
Franca
On account of the ConfederaUon.
20-frauc pieces .
On account of the Swiss National Bank.
30-franc pieces. ... . . .
300,000
155,000
4.000,000
5, 100,000
Total .
555,000
7 100.000
No recoinage of gold pieces
2. Amount of silver coined during calendar year 1908
3-franc pieces....
l-frauc pieces..
Total .
Pieces. Francs
400,000
1,300,000
400,000
2,300,000
2,000,000
Coinage
234
REPORT D ERECTOR OF MINT.
The federal mint at Berne, which has executed the above coinage, has, in 1908,
recoined 200,000 5-franc pieces of the old type (Helvetia seated), to the value of
1,000,000 franca.
The old isBue of 5-franc pieces with the effigy of Helvetia seated, was of 2,126,000
pieces. To the end of 1908, 1,527,000 of the old ecus had been coined into the new
effigy with the legend in relief; there remains, therefore, 599,000 pieces to be reinelted .
No minting was done for us in another country’.
3. The federal mint did not execute any coinage for a foreign government in 1908.
4. The weight of fine gold used in 1908 by the Swiss industry is valued at about
10,200 kilograms. For lack of information it is impossible to epecifiy here the quantity
of new gold, old gold, and of gold coins used for industrial purposes. Yet it may be
possible that a considerable quantity of new gold coins of full weight have been
melted.
5. As regards the fine silver used in 1906 by our industry, its total weight is valued
at about 69,000 kilograms. In view of the low value of silver it is to be presumed that
silver in bullion or scrape was melted for industrial purposes.
6 and 7. Imports and exports of gold and silver during 1908
Lm ports Exports
Weight. Value. Weight
Gold and sliver thread .
Gold end silver thread tissue end gold end silver leaves. .
Scraps, aahat, and clinken of precious metals without
distinction of metal .
Ktiopramt Franc*.
Kilofranu.
224
12
Franca
538, 008
8,305
431,351 MS, 700 153,961 706,142
Imports.
Exports.
Weight. Value. Weight.
mini Kikgnma. Franca KUoframa
gjtl"*?!: . 6. 428 19.930. IW 4.174
GoMhSutan . m’4W 42.125
. - . . ,4'744 50.911,082 2,935 l
Slher oiiJllon . . gi nr? u iir rjts ,n <m
Wiwt* and scrap without dl*Unrtlon of metal.... . 43h331 ’sMTM 153 9b!
Gold, silver, and plaUnum rolled into stripe . . 6L8 733 i’imi
Gold and sliver wire and thread . 403 imW,
Gold and silver tissue and silver beeten into thin leaves . 224 179' 913 w
Gold and sliver plated wore . . 44 977 1 ok mi iao
r?n2“^VOrW*re . 2:771 2.m: so! 1.X5
Fine Jewelry . . 6 .189 7,255.297 3.265
Franca.
12.940,571
8,424.982
10,093.103
2.232.282
706.142
2.114.788
.*>38,rfW8
8.303
21,501
301,832
10.644,785
%T,° T kl?owled^ “° di«*1 importation of gold coins was made to Swit-
kT lC ATnrff f°id broUKht to M118 country by tourists can not be valued,
■ to "° W«**on at the frontier as concerns the
in°1908 ^ P°e*,e<*‘lon Tho f^eral mint did not melt any American gold coins
^wjtze,rla“d d<*» any gold or silver mines.
Fr!r2u, L? ii??? of ?°ld- “d “[V* brom rchncries Of the country during 1908:
For U< k of information it is impossible to answer these questions.
1 J5* APP^ine of Kold and silver in the country at the close of
Bank*, ^908° th° Swi" °f emi“°U’ ihcludin* thc National
Gold . From*.
Stiver . . . . . 149,862,283.60
. . . . 9,195.600.00
a ^krfWoSo".™. SS"*? Pr^red>- » 'P«iali»t. there cxiata in Switzerland
ind^ali dl^o'M. “ 8° a"d 7#'000’000 in -Iver (5-franc piece.
IS 12- J? time, the Federal Government imuee no Rovernmenl note.
Bank and of th? othSsxriL banket emUT.moun^^T^S’w
amonnt of note, not covered by grid or ai.ver oToJUmKC^M?
REPORT DIRECTOR OF MINT.
237
different with tbo 1 haler, which is subject to perpotuul fluctuations, as one can judge
by the following tablo
Value of the Uuiler in the Oman in 1907*8.
September 1, 1007.
November 1, 1007.
DerrnilKT 1, 1007..
January 1, 100*....
February 1, 190N . .
Mnr.-h 1. 100s...
April l, looa .
170 rup«* for 1U0 thulen
154 rupee* for lou thaien
HU rupee* for 100 Ibalera
150 rupee* for 100 lhairra
143 rupees for 100 thalers
1.10 rupees for 100 thaltrs
136 rupee* for 100 ihalsra
As inay bo noon, since September. 1907, up to April, 1908, there hu* Ijocii a con¬
siderable decline in the lhaler. They are held on to by the Hindoo merchants
(“banians "), who, in the ubsence of a governing bank regulation, are veritable mas¬
ters of the market, speculating according to the opportunity upon the value of the
silver. Their course, therefore, is extremely variable and transactions with Euro¬
pean merchants are thereby rendered much more difficult
What is said of the thaler applies with stronger reason to the fractional coin of the
Oman, the “iK^wa,” a copper coin with the image of the Sultan Seyyid Kc\eal-bon-
Turki, the value of which is one-fourth anna. Their variations oscillate between 150
and 200 bemas to the rupee and are, so to say, daily
CHINA.
Amrrican Consulat*,
Foochow, January t9. 1909
Answers to interrogatories, 1908.
1 and 2. Amount of gold and silver coined during 1908: None.
3. Coinage executed by other governments during 1908:
COPPKR COINED.
Denoinlnstlon.
Number o(
pieces.
Weight-
Value.
•
10,308,500
OtUUi
17,717
Hatkuan
la fit.
6,311
1,685,000
134,400,000
4,213
1,680,000
833,773
146,381.500
1,701, IKW
831, 147
*1. ‘vS^SLD" ^ ««*
New gold . .
Old fold . . . - . jjo
Total. .
NOTE^ln F^owThon. arc (i gohtajilh -UblUhm®.., i" «<* of which .n
during 1«W8:
. . . -
Old silver. . .
Total . . .
Amount of coins: None. „.|h mck using catties, on average, a
jffiSsass.'K'ssasss .~i".
238
REPORT DIRECTOR OF MINT.
Copper used during 1906 .
Finite.
l.ttO
.. 4,800
Amount of coins. None
Nor* —One picul -100 c*tu«=133$ pounds.
6 and 7 Imports and exports of gold, silver, and copper during calendar year 1908:
"“fir.
Weight Yah*
Weight.
Value.
l
>1
OWM^
Mwi
torts.
132
*.SU
•C 2.336
*•»«
J3M7D
Bo,sr
a*5T'
•0. 731
146. 2S4
20, ru
631. 630
1.530,7%
206. 655 3, 1C, <Z3
Hotykonp
- * ports:
1,066,814
. . . 5.230.734 307 090 1.056.S14 W4.SSS
« Ooe enact httlboo-KLM haltvan tack.
a. Total import of United States gold coin during the calendar vear lattt The
rutoms import Mu m ««* this item ss nil. the ^.^Srtedbv ££
being too insignificant to be taken notice of. "
NoneAmOUnt °f 1 mled SUt€s ^ 001,1 deposited at mint and melted during 1908:
luring* 1908: NS?* 01 *** 3Lud *lw from mines of. the country
14 u (!Utf>Ut go,d and silver from refinenet* of the country dunng 1908 None
1oLV°g^5bu^r«^,;;,irld- *»■ 35'S*SS:
Stock of silver dollars at banks.
Stock of silver small coins at banks
Stock of dive be titan at *
IS S SS?
. 41&.4U
REPORT DIRECTOR OF HINT.
239
16, 17, 18, and 19. Amount of government and bank notes outstanding at the end of
the year 1908:
Amount of bank notes of each foreign bank— i. e., the Hongkong and Shanghai bank¬
ing corporation, the Ruwo-Chinese Bank, etc., in each city, issued and outstanding
in your consular district:
The Bank of Taiwan, a Japan*** institution, has iwued a small amount uf Japanese
dollar for yen) notes and some local dollar note* (7 mace a dollar^. As native business
men have boycotted the Japanese bank notes, there is but a very small amount of such
notes outstanding, perhaps no more than $10,000 yen notes and $6,000 local “7 mace ’’
notes. Other foreign banks do not u*ue any bank notes in Foochow. About 1 pe
cent of the currency in circulation is composed of foreign bank nob*.
GOVERNMENT NOTES.
per
Notss outstanding at end of 1*».
Notes Issued in IMS.
—
_
L -
1 000
1.000
612.16
MU
700
426. 53
250
20U
000
307 31
180 1
. 140
700
428, 64
110 >
. 1.080
3,000
1 S36S3
1,010
NATIVE BANK NOTES.
\J Dfjff QQf doUiT
400,000
300.000
122,436.00
183. 664. 00
183. 8M 00
73,462 00
300.000
100.000
MU. 000
1UI.UU0
45, (XX)
35.000
50,000
70,000
61.21A00
61,21AM
61.218 00
27.54AOO
One dollar -
300'Mlo
.... uo 000
301.000
.wo. ooo
jo’ooo
Thm dulUn . .
w.txw
130.000
21.426.00
. . 80.000
250.000
163,045. 00
30,009.00
.... 10 000
100,000
230,000
lSoiwLOO
’500
42,653 00
Above ten dollar- .
Total
....
961. M
1,500.000
•14,270-00
377,600
500.000
306.060.00
... 963. 180
1,503,000
920.106.56
378.510
502,000
307,31AM
rilver dollar? on hand to moot the cashing uj their »ou^_
notes wsued by those seven banka of *1 * pve * record by month*,
20. Assuming the toiled * h er dollar, the tael, subsidiary
of the fluctuations in the actual %alue of the
doK^taSn. M. . . -
Mexican SuUddMry Coppw
Haikwan silver coins coins m
1*". ** lIHt-Sal)
C'ehop-
1.5142
1.4*74
1.4*1
l.tfli
I.M2I
1 554J
l «*5
IS. 675*
19 H66
JO 4610
3 0123
34. WU
24 iSW
33 9243
2S. 1308
36-0536
JUT.76U6
21X8746
34AW04
31.1
vr. err.
3M.M11
273. 7W7
Month.
240
RETORT DIRECTOR OF MINT.
22. Law* part'd during 11K>8 affecting tho currency: On April 5, 1908, the Foochow
local authorities issues a proclamation compelling the public (bankers, trader*, etc.),
to accept “chopped ’’ or defaced small silver coins at their face vulue, as well as clean
ones. (Copy of the pnxlamatiou herewith, also translation of its main points.)
23. No report is published on the operations of the mint.
Translation of a prescript issued by the Foochow local authorities regarding the
defaced subsidiary silver coins:
Ch’£n, Hsai-pu’ magistrate, acting Foochow subprefect- YOan.an expectant “mili¬
tary” prefect, acting Min magistrate of Foochow: and Ch’£n, holding the fourth
official rank and acting Hou Xuan magistrate of Foochow, all wearing the decora¬
tion of peacock feather, issued the following prescript:
Some time ago it came to our knowledge that attempts were being made at the
market to refuse certain subsidiary silver coins or take them only at discount. There¬
upon we issued a joint prescript against sueh practice, declaring that all subsidiary
silver coins, defaced as well aa clean, be accepted at their face value.
This order as reported has been observed by all establishments doing banking busi¬
ness, except a certain money-exchange shop styled *’Tung-i, ” which has in detiauce
to this order continued to charge such discount We have summoned Lin Chin-
wang, an employee of the said shop, to court for punishment, so as to set up a warning
to other*
We are now in receipt of a petition from Tsai Chdn-ehing, a committee, and Ch’6ng
Wen-pin, chairman of the hanking association, saying that these defaced subsidiary
silver coins are brought to Foochow from Shanghai and other places and distributed
among the business men bv the great banks on tho Hsia Hang street; that the little
scratch or cut on the small coins is really of no importance, but shopkeepers follow
each other’s example in refusing such defaced coins, thus causing much impediment
to the circulation of such coins; and the money -exchange shops are willing to comply
with the order, but they fear that the pawn shops, great banks, and other business
houses will not accept such coins, and for this reason they beg that another proclama¬
tion be issued to enforce the order.
Besides giving them a reply and commanding constables and tipao to promulgate
this order, we deem it necessary to iseuo this prescript for general information, that
pawn shops, bankers, business houses, soldiers, and other classes of people obey this
order and accept all subsidiary silver coins, defaced as well as clean, provided that
thev are genuine, and never charge any discount therefor. Violators, when found,
will be arrested for punishment and their property attached
Let all respect this order.
190S>Ued °D th<* fifth da> °f 1116 thinl moon, tktay-fourth year of Kwang-hsu (April 5,
American- Consulate-General,
Tim tan, September i, 1908.
Sir r
E T. Williams,
Consul-General.
* h?ve the honor to inclose monthly averages for the first eight mouths of tho year
1908 for the haikwan tael and for tho first seven months for bar silver and bank
bills.
I have the honor to be, sir, your obedient servant,
The Secretary of the Treasury,
.. .3® valuo of 1110 haikwan tael in United States money for the
brat eight months of the present > oar has been as follows: *
January.. .
February . .
March _
April .
May .
June .
July .
August .
6&A
Co • brokora of U““ lK>rt' Polished tho following report on «ch«ngo
KEPOKT DIRECTOR OF MINT.
241
silver, and it would appear as if a further decline inav be exjKi tod T T (Tientsin
Jaeh is quoted , /, current to China New Year, and four months’ credit* are negutia-
ble at - i August -September, and ,',d. up per month until end of \ car Tientsin tael
on Japan is quoted K3J, with thirty days' |>aper 82J
The banks drawing rale on Shanghai continue steady at 101.1 The market rate is
uuoted 104 35 Kates are to-day d per tael below the laying-dovru <-*«i of silver
We apjiend our usual monthly average*
Month
On de¬
mand
Four
months’
i rrdlt
Januar) .
February
March
April.
Muv
June. .
July
1‘rnrt i I’mct l 1‘ntct
I ft
1 § I
Attention is called to the rate gi\en for the Ilongping tael in the customs tables, i c ,
107 1 (ongoing tael- for 100 haikwun The Hongping is the business man's standard,
known otherwise os the “ Tientsin laid ” The rate up to Mari h I. 190K, has for man y
years l»een 105 Ilongping to 100 haikwan On February 15 last the customs authori¬
ties announced that owing to the deterioration in the quality of silver sycee (i e .
bullion i the so-called Hua Part sveee” nominally 0 992 fine, such sycee would no
longer be received at its nominal value, but that after March I duties would be re¬
quired to be paid m the equivalent of 0 992 silver, and on Man h 5 a second notification
fixed a general rale of 107 Ilongping Ifua Pao sycif lo 100 hmkwan l oreign mer¬
chants hav e protest (Hi against the payment as ls*ing a real increase of 2 per cent in the
duties, and hold that tbev ought not to be made lo pay a deficit which i* due to cuvlare
supervision uj»on the part of the authorities and which the latter ^uldi-mMl vre-
covcr from the issuing -hops The matter is still under ronsi derail on In
it should be said that the term " Ilongping’ merely indicates the ^e iin which tic
silver is weighed, and that the terms “Ilua Pao. Pai 1 ao etc .
Silver avee? is not issued by the Government, but by private melting ho^ hut id
most | Hires the issue is supervised by the Government, uh.i h mamtairu. an a^ay office
wh J stamp must lie on the sycee before. t ca.» obtain cin-ula. on. The n«neol Ku
issuing hong is also stamped on the bullion and ,t> fineness mdicated Smce^WO
there has been no supervision of the »*•“««* ilSTl^agrldilalldeliasemeui of
lhat date therifwas no public as^iv office 1 hi result lift wen | , ■ merchants
the sycee. which form* the bulk of the currency at this port The fore gn
have been urging the Taol ’ai to establish a publn a»**y . numihs have now
debaupmoul . but , «llhou«b the T.o. «, h*. <» ' }*,£• £ not
pwed without anythtnp Itotn* done m :. *|| , .till more
even licensed, so that there is no guaranty that the silver will not doc
debased and a further discount become necessary. , , ,.ntire]v disappeared
therefore driven the better eoiri elsewhere
A M ERICAS (’ONM LATE-GB V ERAL
Tu-ntiin, J)rrrmbrr9 . 190$.
Stu; #
In'tuv roliort. L, O.,^r]o.
her 28 f>> the commissioner of customs n .< u fc ^ ^ roUid be m rived in pav-
Man h last by which the I rale aj whu*th 1 P^ j haikwan and m*onng <m
meut of duty was fixed at 1 0. Ilongping
and after Oetoher 1 the old rate oi 1 .0* l-
19711—10 - 16
242
REPORT DIRECTOR OF MINT.
Shortly after the notification of September 28 the customs Taot'ai sent a note to
the consular both , promising to establish an amiv office to superintend Uie issue of
tlie sycee This' was done, the office being opened on Octolier 3 It was placed,
however, under the direction of the Chinese chamber of commerce, and 14 native
bankers were appointed to superintend the assaying in turn. The Tientsin tael,
it was agreed, should remain as heretofore, 0.992 in fineness, and shoes of silver were
to lie issued of this standard 1 inclose a copy of the regulations adopted
It apiiears from the Taot’ai dispatch that previous to 1900 there were over 40 hongs
engaged in melting syece. but owing to losses during the Boxer troubles more than 30
have been com pel led" to dost* Originally, these melting hongs were required to obtain
a license from the Taot’ai, but since 1900 the regulation has not been enforced, and
this has given occasion for the debasement of the sycee and the consequent discount
of Tientsin currency.
It was hoped that the restoration of the normal rale of exchange and the establish¬
ment of a public a»av office would relievo the situation, but the foreign banks hold a
large amount of the sycee alleged to be debased Although said to be debased, much
of this silver has the stamp of the melting hongs aud is marked 0.992. and the foreign
banks think the local government ought to receive it at its face value, since it is the
duty of the Taot’ai to supervise the issue of silver, but the Customs Bank reiuses to
accept anything except sycee bearing the stamp of the assay office. The melting hongs
are issuing very little silver, and the native banks, who have possession of most of that
which has pass'd the assay office, will not part with it except at a premium of one-half
per cent The result is that foreign merchants are still unable to pay customs dues at
the old rate of 1 05 .1, but pay really 1.055, and the foreign hank* can not get rid of
the old sycee in their vaults, except at the value of the pure silver in it The amount
of this sycee is estimated at about 1 .500,000 taels, nominal value What its real value
is is unknown
A deadlock exists at present, therefore, hut the hankers, the merchants, the Chinese
authorities, and the consular body are working at the problem, and it is hoped that by
a compromise a satisfactory solution may be reached Once the old silver is romolted
and passed by the assay office, the Tientsin tael will be restored to its old-time standing
In my report of < letober 10 last I call'd attention to the inferiority of the local dollar
as compand with the Mexican. It still remains, as then, at a discount of about 2 fw>r
cent The Mexican, indeed, is no longer to be had
I have tin* honor to inclose a copy of a table showing the result of an assay made of
two lots of these local dollars by the Ijibaratoire de la Monnaic. in Paris The second
lot was first test'd by Mr. I,oup here The pieces mark'd ‘ Tai t hing Ti Kuo” art'
the new dollars issued by the imperial mint as distinguished from the provincial
dollars.
The subsidiary silver of the denominations 5 cents, 10 cents, and 20 cents do not
VftIue guaranteed, consequently it requires $1 10 in small silver
haV~ — v»viwn.v
to buy a silver dollar
The copper cents are also token coins, and have become depreciated through over
issue, so that it requires $1.25 in l-oent pieces to purchase a silver dollar
I have the honor to be. sir, your obedient servant,
E. T. Williams,
rr. _ _ Atnerican ('onsul-G crural
The SECRETARY Or THE TREASURY,
Washington, D. C.
NATIVE CURRENCY.
kntiWB lo >'oulthe r<*ults »n weight and fineness obtained
Num-I
her
of
Total
nricht " eight and Oneness
of tie „ . V*r piece
pltra. (taken at random).
. ® No. 23, from Koung Hsu .
%=■■■ i ^ISteas::::::— Sg |«
Unins
26.5SO
17. 1A0
as. rso
SS7.0
W7.5
SS6.0
REPORT DIRECTOR OF MINT.
SECOND LOT.
243
Dcnoinimt'ion.
Dollar.,.
Do...
Do.
Do.
Do.
Do.
Do.
Do.
Xumtwr and origin
Weight
(acknowl¬
edged
by Mr.
Loup).
(acknow). " eight and flnenea
edited by ^knowKi?<xJ by the
Mr I oup) ••boratory ol the*mlnl).
Ora mi
Mexican . 27.00 .
No. £i. from Kouug IDu . 27. 15
No. 2*. from Koung Hsu . 27.00
No. 25, from Koung Hsu ...... 27.00
No. 29. from Koung Hsu . 36. 75
No. 33. from Koung Ilsu. . . . 20.50
No. 34. from Koung I!su.. 26.50
From Tal ^ 'hlng TlKuo . '25. 70
, Oram
26.005
27.150
20.000
20.090
26.720
20.495
20.545
20.700
Tkovtandtlu.
900.5
885.3
«7.5
Wi5 0
«9.0
«.i
t’opy of the thirteen concise provisional regulations drawn up by the Tientsin Cham¬
ber of Commerce
(1) The object of the assay office is to regulate the market (silver market), and its
sole duty is the assaying of silver
(2) Tn accordance with the instructions of the customs taot'ai, the assav office is
to be tried for a period of three mouths, after which a rejx>rt is to be made to that
official
(3) The standard for assaying is to he 0 992 If the fineness of the silver is greater
than this it is to be so indicated! on the sycee): if less, the difference muBt be made up.
(4! Assayed silver is to bo taken at the standard indicated by the mark of fiueness
stamped upon it, and after this fineness has thus been determined, the silver will pass
among Chinese and foreign officials and merchants alike
(5) Small pieces of silver (remnants’, after being assayed, should be sent to the
melting hongs to be melted into sycee. in order to prevent fraudulent charges.
(6i The chamber of commerce has taken the lead in this matter of on assay office,
and the president and vice-president of that body should have charge of the anaymg.
(7) The bankers shall choose from among their own number fourteen men who shall
have charge of the oj«&ying in turn These men must attend to the work in person,
and must not shirk their duty, but must give their whole attention to their task
(8) Silver that has been a.**ayed incorrectly con not be used, and the aasayer must
make up the difference. If any one protests the valuation of the u»yer, he must
request the chamber of commerce to watch the melting of the silver, and if it has been
assayed correctly he must pay a fine. , . . , ,, _ . .
(9) In themaiterof the seal and the«timateof value of thea^voffic-effiegreatos
caution must be exercised If either seal or estimate is counterieited. or fone of th.
asm vers attempts to practice jobberv, upon discovery the chamber of commerce must
be requested to hand the offender over to the officials for examination *n^
( 101 For every shoe of sycee melted a tax of two copper cents must be collected to
cover the expenses of the assay inc mIlst
( 11) All the people employed in the assay office, both SEltatan*
be recommended bv the men hunts at large, and must be required to furnish satisfactor)
«"™'Z KSTBSS Vo ,, »be V-****-*
chamber of commerce, and after a suitable place has been selected the matter
transfer can be considered . _ » „«0Kii.hini> nn *«i\ office
( 13) These regulations are drawn up for the purpo^ of wtahlchiui, an ^
If they an* found to be incomplete they can be revised and the app
taot'ai sought for the revision.
American Consular Service.
Muhlm. J/orcA IS, 1901)
Ansu/rt to tnl/rrogatoriet. 190S
1 . 2. .ml 3 No fold or ..Ivor wr caned. or oo,nw exccu.ed lor olbor
4 ^ho m-ight of lino sold no old p.bCoo>in»
3.887.33 ounces troy This was all. as torus Known. N
"v of fino Oliver u*d in "" 7‘”
trov This was all. as far as is known, new silver, no com., being
244
REPOET DOEBCTOft OF MIST.
6 The amount of gOd boll*® imported during 190* «i *.ra'> .®ore* In A. valued
mt .20. KKt haikwan tael- There was no importation of r < 1 corns tc rv{*jct«J
There «v m» ntumu c of gold reported . _
7 The valueof -river c,iuw and bull*® '-yow itajscted during 1*>» »i- 1 l.OnO.UUU
u,^.n uel- Th-r* n- id addition. an imf-ctat*® A 3 KjO.OOO tneL- in the f‘rtn
of nauMr iil nmmuaarm- No -river -w was imparted Thr cxj-rt of nJvff ‘ ,.ms
And built® tr thr year UK* taoutcd to 3.000 jOOO haikwan taels maidti revenue
jf the prorinra c4 Kinn and Ilerimngobiang. *nd 1.000,000 tael* in the f rm of r.«i-
nKrrttTretDauarf* Xo silver are vi*
- And V No tm;>rri»r*« of I’m led Suuk ~<4d mine daring 190 were r**j*.rted. and
AU railed Sau* p-ld coin debited mT the mints and n**ltfd
10 and 11 There v no available data as t,. the amount <A gold pr»du<ed tri.cn the
— 4 iht- n*gi ® dunt.? !«► Thu- far there ha- been ». organizan® «»f Hu* waar
indartn 'f tins district. and »bm>-r mining then- is is done by individuals over
whom and w er wV*e radar! the Government exercise* liule nr Do orntrol The
fioveromeut k»nr< a /hmg as to the < utput of jpdd fr<n tear to year
11 awl IS. Appr</ximal* k of *r4d and diver cum and bull*® in the country a«
ih*' rhmf- of Thr rahndar year lfc>* Bv deducting the am**unt of gold consumed in ih*
industrial art# fr*wo the amain t inerted, there* *uid appcwr to be a balance of 2.SI7 67
ounce* trmj •« bawl at the •li^A ISO* lly the same pn-v** there was 10.600.OUO
hukaan tael* *<nh of -liver >a the damn at the end of 190s
N'cnrt - It a obvious that the figure- a the replies W 14 and 15 do not ai-ruratelv
rvpcesen1 the actual amount# <4 (her me tab in the district., but only the habno* "t
thr ar-*il bought into thr datirt during 190* and nr main mg «® band at jhf < lr*— ' A
the rear TW hgum- take a < a* -aui of the amount* A gil and -river *® hand at
the beginning of l«*
In. 17. IH. #o-l 19 The amount* of government note*. b\ denominations. in
Mukd*-o .luring the bur year* 1905. !'**>. 1907, and liai* arte as felkrwi.
«a,o» into
As shown by the above table, ihegm eminent bank of Mukden has issued during
n|\pr ' small
the four rears of it* emteacr flE.MBgME wtrth ri aaf. Them aceaUv^l
nan " dollar*- i e , SI equals 100 «toU of subsidiary silver coins
There ha# been no attempt lo redeem, nor ha.- then* been any considerable anu »unt
•4 these note* withdrawn from cirrulaUun. so that the amount of outstanding Mukden
government notes at the clam of 190* was appn .innately fJO.JOO.OOO rrnall coin ,
which, at the average rale of SI equal* 40 rente I n. u*<J State* cold. L« etiuivalent U«
S4.0ki.000 l nitcd States gold
During the year 190^. also, the provincial goverumt-nt mint at Mukden coined
27.000,0110 < i>pper 10-ca#4i pic es, the value of which «* 1 70 .000 haikwan tad.-, and
15.000,000 JO-caeh pieces <»f the value uf 166,606 haikwan taeLs Xu cuius, either
docoestk- tA l.weum, were melted, and no coinage was eaw uted at foreign mint*
In add iu<® to the above the govemment bank of Kirin Province issued api»roai-
malely SO, 000.000 of "tarn'’ notes, all of which were in rirrulatit® at the close of 190S.
The tia«. rqirftmt#yi) ' coppercvh. " and when th^-*- notes wc-re fir*t put intocir*
•vriaiK® the rate <4 exchange wae 5 uai. per small-c»in ddbir * small-iuin dollar at
that time being w-clh approximately 42 cent- L niled ^taU* p4d >
The total amount i»f pivemment DoUs in the district and outstanding at the i kw >*f
!«►, eifirmed in l niled Stales cwrrenry. was. therefore, approximatch SL0.4KJ.0uti
The amount of p.vemmenl bank .mletandmg ami not iv.vend bv legal tender
during the ytar 190 is uupumble lo delermine The bank < >tfx utL- rUim that their
various u*»ii- teur* are hilly <-overcd by legal tender, either in the form of silver buUi«®
( syce* ; or copper nuns, but it is ev dent that such l- not the case The pwid-up capital
of the provincial r it eminent "• bank «f Mukden at the end of 190« was 4.324.£i4 haik
•an taet* In addmon to this amount of paid-up capiUl the bank claim.- to have a
spe<-ial n-eerve of 3.V*.'*.** haikwan taels (iranting that (he?** two accounts, totaling
4 haikwan taels, are in such form as to act as Kcuntv amiust ihe bank s <®t-
s landing note*, there are still 1.88o.91S haikwan taels' •■nh’.rf unsecured bank n-ter
REPORT DIRECTOR OF MINT.
247
Import!
Export*.
Claaalflcaikra and ooontry.
Value In Value to
"eight United State* W«ght. United State*
currency currency.
Silver bullion:
Europe .
America. ... .
Strait* Settlements.
Hongkong .
Japan .
Korea .
Vladivostok .
Total . .
254. 82D
90
» 230
4 BUS
ti.m.sw
1.737. 7»
1205
4 150
74.77#
32. 7W
isun 314. oc
8 and 9 The eta tie tic* chow that no I'm tod State? gold coin* were imported into
Shanghai in course of trade The oniy coins coming here were benight by tourist*
and it is not possible to secure any figures as to their value There was no Lnited
States gold coin deposited al the mints and melted.
10 and 11. There was no gold or silver produced in this consular district.
12 and 13. There wa? no output of gokJ or silver from refinene? in this <-oosular
14 and 15. Unable to secure statistic? regarding the approximate -lock- of gold and
silver in the country. ... , lone . ... ■
16 and 17. There were no government notes in em ulation during \V*. but auari
official bank- circulated paper money in Shanghai to the value ^ of
haikwan taels ($542,500 United State? currency l liable to '^nUr -1**1^LTn hi*£
denomination? None of the note? of the quasi official banks '
currency i. Unable to secure -tatistir? a? J0, ,den°™TrhIm
private 'banking institution? have reserves held agai - r-rom oiled on thi? point.
20. Actual currency of the <*mntr> -There are no of
The principal circulating media are siher 1 • 1 ^ not«alK> m circuUtoon i»ued
silver and copper minted in native mints. J?The ornate and «iua-i official Uhine-e
by the several foreign bank? located here and the pm ate an qua.
banking institutions , „ . . . ,he relative value during 1908
21. Premium on gold The fo^wing toble Aow# „ rin.ubt»on
between a United Stole? gold dollar and the so* eral metal om
SotoJdtarr Number
Mexican u*itamo aflvrTcotu*
diver lati> in 10-ceut KMaan
dollars- piece*.
January..
February .
March..:.
is?
June...
July.. ..
August...
September.
October
December
2.3
2.r
2.25
2.27
X*
X 32
IB
X 37
23?
X*
X 45
X 50
1.47
I 54
1.51
1.51
1 54
15*
1*
1.61
1M
X 43
2. 44
2-47
2.50
2.00
255
2 3*
2 00
2«J
2«a
2 70
2 75
171 70
275 00
3S6-00
^ 20
28# 30
29: 00
an- so
22. Uw f—ed J-rimr
tember. 1908. His Excellency Ts at • 1 r.n>» viceroy of laangkiang.
under instruction-
K E*c-lU-n-> Tu.n-F.nc viceroy '
248
REPORT 1*1 REi Tt»K OK MINT.
proclamation ittMrucrin? all bank? to anplx for rec**iration at the beard of hiian. *■ in
compliance with th«* requirement* of in** tunkin» n^uUtioas drafted by that bmrd
23. A* tar a? ran lw learned the mint- in fhina have published no report of their
opera lion*
« HIVCSB ('r*«E\CY
e and >rdurr, Jumarv. 1W» ]
In view of the im{«urtance attaching to the attempt? that are being made to reform
the currency of < hina. are reproduce below the imperial decree reeDtlv ia*ue*l hv
the taiDee Governmeni
I H*4in< fl—ia, October S, m]
An imperial decree in reSKKe*e to a memorial of Prince t hing and other miniMer*
of the government council and of Prince P u-lun and other member* of the eenafe
who. in obedience to our commands, have deliberated up.*n the Mihject *rf a uniform
national currency
“A * Undart 1 currency i* the fundamental principle of public finame. and various
ctrnnt no have adopted a fold *mn a* their unit of xalm*. with the subsidiary currenci
of Mixer and copper token? I nd. r well-framed regulation* -uch currencies haxe
l_E!f *•“* ^ Hu* “ **'1™**' y«u* of preparation to be
SZuLi * mrm'Urr ,rh b> n“ h* attained at one step The
nZZ! V u' ‘ ."'i in £****"*• «■* ^e standaniinng of the currency * urgent
\ lf.*c,“al r'*W »«> he taken a* the standard unit*, it would be
difficult to raiee the necereary amount, while if gold were merelx taken nominallx
SKI daT‘rV TmW ‘n,urnnl lx » «' K*®«. therefore. that
wa abonM ital etandardtae and render uniform the Mixer curreocx. and then care-
twlh jmiceetl to take measure* lor a further adx-am-e aith a xiew t»« assunti" the
adoption of a gob! standard in the future **unn~ in*
* The memorialist.' ha \-e pointed out that the u?e of the tad and it? fraction* ha* been
*- •« «*•*■* an? tsjxsslss^
~i —rat utS&iBirgz&jz
jnth th, expenditure lor traveling ..u th, pt^iI^^K^^n ? dU,> kT*^
^ *^^h ’ which^le the differ-
ber of year? the national mIxJJ currency ma?*! ’ *,lh thaI in * riven nuin-
• I ntil the new cumJ»\LV SZT2:^i *T-g «— uniform
Mileadurx silver piece? m iw> ,n ih!! SL - ,n p,u*<'i«'nt quanntie* the dollar and
M,« hi ,h, *£ ZZv'Z'g nt^^YT " r" *• *» . n»r b, ^d“!
in s\cer lor the present |>ut ma*t Tear bx "“X l>e made
the uea silxerminj^. On thc^e ouwiiok* hy ^ ^hetitutnui of
the . in instance*, and take *atv*ia* mrx f . h°*Txi °* fina^ <-»refullx consider
Meniorud J ST ^ * **
unn'orm national *>ounri1 (Hui 1 ' hen*: Wu i h ui on the question of a
REPORT DIRKt 'TOR OF MINT.
249
Uniform Chinese i oinaoe
IMPERIAL EDICT MAK1M) SILVER SOLE USUAL TENDER
(From Monthly Consular and Trade Report*. February, IM» |
Minister William W Rockhill transmits from Poking a translation of an imperial
for'thewtmlp1 ofSe^Ei^piro 'and d irerting'thp lnoni ''f enue to *lraw
!d 1 "vZSSi' ^.m^n' iTpnuce CjU*
and others of tho^ bureau of constitutional affair*. ha>e jointly meiuoruliasd
All the nuliune makepiM the w imif.rmin it l- very con-
ulatious for the coinage are r omplK^w. but complete arrangements
venient Many years are nectwajy hnowe''hin^ fimlnctS aw now in confusion, ll
The goal can not be reached at one step. J®1 j, M mal geld Is- made
is of the utmost importance to adopt * > nw»n ^ |U ,f fit utioU(l ^Id be
the standard, the accumulation of the ,^Us(. ,nx,oti It is n^.^ary
made the standard, it would Ik* dangerous aud^d^ i.,r*rard may ne
first to adopt a uniform silver currency ^and ho£d that the gold
taken with care and after mature dtli H ^ resulting e\it* The pnn<« and
standard tnay be established firmly a j ,.rtndan*on have been lung used in
ministers now state that as the tael, nw . ( The finance commumon
China, the mode of reckoning can no ' reckoning
ha.-> already JSndwil -liver -in di.ll
IS before. all pume «*•* :
foreign obligations tiled by lpV*.t* in all its rccidpts and disbursjnienta. ^ ^
revenue, which will niuke can -ful • hl. irrct-nlanlic and ill" P*
tiona .re .n be nmde. pndiihmns fnreier ,ml
dishonest tradera and brokers * lf (ird,
l manna- . til
dial, one,. «dem .JSWfc -r*17S^“ «h“
all the people The b,*nl lf»^\^ifiirn»i«y may be ^.“^Vbnu wha.eier
fix a definite period ajtbin whu h pjrfec|^ Th, n. must Ik- ^ all the
ha\e not be. . mi*""1 '?.«* . -lwr
SiS?"iC»d » v'^r.ai
various coins now current in * « nu.n(< to the tiu|»enal • y*
mav be used in trade as bef«Ke ... temporary J**JW'* . ,l{- ,,i\<
-
sufficient «p»a. -
*cll »> 1 he uncoined M?tr,
*i!l also continue
Year by year the
_ , , «kor bullion will
to L>e made, as before, in suy* truant me* and ,hr ll*]'4r, („||x consider this
standard coins will be lmuj® ‘ ^ bmrd of n*\e«ue wd •* jn u instances
he ennespondin.lv dW«W JX-I of preeedun
[TnuuitaU*" 1
THE monetary Smumv is <
| From 1"™.™ F*rt* ‘l"*' lrn*,M i**™**1*
A recent reperl n« .he « ^JtST^
upon the monetary condrtR ^ condition id Tl* ut‘ , ( »j * **> b> .
PFor n^lyay^th^niomt^ ^ough » n ** ^
the other |K*rts of ( bina. ( ca»e«l
deterioration in value of the «•'»
250
EEPOET DIKE*. TOE OF MEST.
fcc wmwmI « naKtxM. Thewe ingot*. pot is cvrubtfon by a syndicate V
kwn invested with a attzugorenuaental privilege. are stamped
with a fineness of t JtS. while their real value is bat little mate than § 963 or 0 96?
The provincial pyrromraj. in the mcath of March. 1906. put forth a pretense of wx
acceptiaf three tngn«* at their exterior valuation in pavment for rosaoms duties and
attached all the payments in that money with an overcharge <rf 2 per ml They
rrfnard. jn fine, la accent the aa me metal which they had put in ruculatioa th«~-
•enrw The rnrnmerciai rwauaanity objected vary forcibly, and the crmmkry body
(carps made the vire-na listen to energetic complaint*
In October. 190K the amn taken *v reported and a baremn trf o&*ml amv
called km* kou *w instituted Scaae time afterwards the nee*™ consented to
caaae the ingots held by the cash offices and foreign hanks to mum to their fiduciary
TahmUon.
The present ntnatim is aererthihas far from satisfactory and any be dewcribed as
Wiowi:
Dtfiewnt kinds td Beam having cwrreory in Tientsin
Fir* The sycee of the finenem of • 192. known coder the in air of ' hm-uo ’*
bower. » difirwlt to obtain at the present time, ahb-uch this -vee* dunnr
be*-c the current n> oey of the ptrt.
• . have a mat atar debased sycee. which were pmur as boon-two
up to the psuHaaaai *® ut the .«tom departments of Febrwan lit^bot these incuts
S ?*“ •■thoritim. who refused to metre
“* ^ w*u <J ^ — r. - rtich ™ M
•*" ■ ml •yree 'P" f*1 *he nominal finene* of
requirements erf the commercial transactions
** p**" O0®u»rlp are regulated in Tientsin taeb
r^Fwmh^ TW abn exists here numerous dollars *rwck by the imperial and pro-
An cramimlKJc made of these dollars of the province* bv the bureau of come erf
* *e*dy detenomOon in the quality of the pieces These d 41ars. nomi¬
nally erf the finenew «rfO 900 and weight of 2? mm are. in realilr. a Utile larhter and
kfi hSSTSe 0 »0 and ° 900 they have driven all the MeSJan dob
, kmT <1*® * *** ** 10 mpequ**. nominal] v
-2T1 *• — * """ «—
e. “if Srr "*** * 'triable rate of exchance.
be added
5~-2ss^d££«££r ,,f rwr' -«* ™“n<- *<■ <*
— ‘-J- • <«£ M-ET^S??
KSTsyaSr*! 53?*- '•» *>»> * ™k>
^ ^ —ru!
i5!^tesfir'-a*^h ~
To all tiu^ Ibex nos aid “V b<** cxmmerfeited
b arremn t* -appl\ a d-bi imrv at l1’0®1 P0^ when it
finene*. between i.^ts to ibe^tAi^ilL? “* U> ^ in
chance ecr 10 ^ of rnmaage. in the cost of ex-
^^SffiSSSESESSwaaft
to munduoe nee m^ns <rf exchairo bv
- — a a« w - - wu
* , in use are damamar it* the
which the rebtawi between them « vitK "* exchange by
and cro.t hShST ^ P»^ U>
* vanazira
KRPOBT DIRECTOR OF MIKT.
251
[TrvnteUwil
Commcjuk or the 1’nrjtot * Menu i i* Cnii.
[From l/K^unumiotr ParW, O*o4*r I. IM» |
From the report of tit** general iuDortor of uuix'rml (Tunce < uatoow. th* imptaia*
lion of preeiodJ metal* into Chin* 'luring JW* have amount**) to ** MfIMl franc,
of which 4, KM, 800 franc *w gold and 03,627,200 franc were «lv«r Th* exporta¬
tion* attained to 146,275,000 franc, of which 41.648.400 franc wore gold and
103 |,027,2OO franc weT* eilver
The following tab)** 4»ow* the countna* of on gin and d«eti nation
Mo v kmc at or Coin tv 158*
Comurto oi origin mad lUmOumOon
K.'iroj**-
Adsik IndW OmlndJruc Hurm*,*
VrtherWui>U Ir.-lW .
»8#Ml*m*nu .
n and Tonkin .
Ilonjrkottg and Marao.
Japan itnrtudliiK Forme
Kwc..
Vladivostok
Total ...
lai|jon«tioa.
Oold *0*«
Fraai
U.001.JOO
II* *»» • ‘*11 «»
oi on to.aw.oti
4,Zl*.«Jt) I *41 «0
W 400 W W
(M*u ktn.an
tipurUitoo.
U«M
Mttv*r
Fr**«
fr*»a
aft.tw too
0, JT7,'O0
11 JW
win
lai.ano
: «oo
I.ZK.IOO
w wo
• WO
1 (#> wo
it. im
I.wi.tw
1 . IW7. 7*a»
i jai.wo
<M. W7. X»
J.017.JW
4 IW W
<* am
1 W7 000
474 l«
ii.ata.ion
un.tn wo
Hongkong ia found to rank find in the ^,|<1 wm* Ucrly alHo
U at Ih* head a* an exporter of gold, their ex|*.ri*uow
Europe
Ci/itKKKcr or * miaa
|Krw. I*U>. ,n * H',mV '
we . . w u . “ —
tael* The tael i* not u c-otn. hut a hin W|i| ,[„• exchange U;J*rtlll
fdace* both an to weight and Vm.or and il>«- topi** minage. »* »bi,ut
and the dollar, or between t he fom r rruHi i. J c**h -
The only will in u*e until ^'^LTTe ArnJin dollar, hut
1 .200 to the Mexico dollar, -r ^ | ,r A „«•* . t.m -r ><» * " I (^h
nearing except in th* more nr all(i u i# rapidly <l»l'^r1P*l “ fhiruiat-
C nitwit' at the nrovinel*^ «nmU. and'^®J^ taeb. ” <™^Un> "jur or
The relative value between th ,^.nt mn1 hundredth of ■ ^ , kdohrr 1
ing At fimt they were **um)<w|e*i t I )li>r ,>(J| the exrhaiig » f
alKiut one twiehundred-und ( ,,, ;g,; |o :ll« f<*r «he t ,j„. nad
from 130 to 135 for the Mex.cn Blld in , Tlf „,«n.
For many yean, the Mexican dollar ww< ™n<jd -f ppivin uUnjw^n<1 ^
. . . . -
“ J!SMS^«V*dS1S«-. gzx . . . “
ininta, hut three are never worth thnr
nm when exchange.) f»W dollar*
252
IlEPuKT DIHJJCTOU OF MINI.
BRITISH INDIA.
Annrtrt to xntrrogatonn , 1907
f'aLCCTTTA, Ortobrr £9, 1908.
1 No gold coin* have been rmnioj in India since I MB 92 The gold mohur and it*
eub-muhiple* have praeluaJlv disappeared from circulation. Si\ creignsand half sov¬
ereign* minted either in Kn^Iand or Australia an* renfmiied a* legal tender to au un¬
limited amount at the rate of 1 sovereign to 15 rui**e*. provided they have not been
railed in or lurl weight In-yood the limit prearribeo a* the lowest < urrenl weight, viz.
122.o grain? lor the half sovereign, the full legal weight being 123 27447 and Cl 63723
gram*. respective! v
2 Amount of silver coined during the calendar year 1907 The numl>er of pieces
coined in 1907 8 wa* 210.973,187. a** follow*
Total
\ urn tec at
pteas
Valor
as: :.A.-w7e
~u*
«v>. au
manun-r
no *T5. UC rtf) W, I TV
The amount of recotnage war Hnti*h nijwt- valued in sterling at £1,616,062, or in
dollars roughly $8 00,310, and other coins valued in sterling at £229. or $1,143
3 In addition to the m image at silver for « irrulation m India, the India miota also
< tuned I5riti«h dollar* for circ ulation in Hongkong and strait* ''ettlemeoL* The coin-
*g»- lor 1907-8 f*.r these (dIobm war a* follow* \umlier of dollar*. 1,943,726 to Hong-
k>*j,jr and 1.94u.9GKto the Strait.- Settlement- The value in sterling was £190,336. or
*931,6*u The HriUrh dollar t* 416 gram*. tr»v in weight 0 9tW millennial finenes*
and the Strait* dollar w of the *wrae weight and hnenen*
4 and 3 Amount of g«*M and silver used in industrial art* during 1907 I have not
beeo able to .4.um data cm which to U*e intelligent answer* to thww question* The
only answer supplied by the government u», ‘ There an* no data from which to make
an wtimate. except that it may In* said that all the uncoined gold imported w roanu-
facturc-il into plate and .cnainentr All gold produced in the Indian miner i« exported
to Ixmdoo for a«av " Tlie import.- ..1 uacoiaod g»4d m 1907 h ara.mnted in value to
about $:V».796.23.T*
S.' *,* *"!£ ** ml4 ll*at thaI mur h r4d ,D lhe industrial art*, «g » hel l in
iflid th *^/,UrIm,f There t* no wray ««f telling how rnu< h «»f gold com* wen* melt***!
The -d r.hrr m tfflritat value employed in industry i- otfirfeUy stated to
be ataiut 3*23,000,000 Silverf.* rupee coinage i* imported direct bv the government
No silver f (induced from mine* in India
6. 7. and 8. I input* and exports of gold and diver during 1907
art. tm
’ :u Cft.cj.arr
REPORT DIRECTOR OF MINT.
253
In 1907 8 the imports of sovereigns numbered 5,500.000
No gold coin or bullion wax imported from the United Stale- during the year and
there was no export of gold on gov eniment account during 1906 7 ami 1M07-S*
The annual value of comet! “ilvcr imported into India. 1907-8. m- C2.7 and
the exports, £1,331,130.
The import* of uncoined silver during the same period was 1 1 1,635, 265. and the
exports amounted to £44,586
The coin consist* almost wholly of rupees of the government of Judu*. which circu¬
late in Ceylon. Mauritius, Aden. Somaliland. Zanzibar, ihe Ea-t \friran Cou-t. and
the port* of the Persian (julf
The principal import* of silver are from Australia ami China
The im]>ortx of silver from the Smut- Settlements for coinage into the dollar
amounted to £4 14,898, and from Australia. £534,725.
K. Amount of United Stale** gold coin deposited at the mint- and melted during
1007 None
10 and 11. Gold and silver produced from mines of the country and colonies of the
country during 1007 The weight anil value of gold pnxiut ed in the Indian mine* in
1007 wax, standard gold in kilograms, 17.307, the gro** market value being £2.133.691
No colonies. There are no silver mines in India
12 and 13 Output of gold and silver from refineries of the country during the Year:
Standard gold in kilograms. 14.307. valued at £2,133,691 All gold produced in India
is sent to England for a-sav No silver i- produced in India
14 Vpproximate stock of gold coin and bullion in the country at the cltrc of «n*
calendar v<-ar 1007 The Mnti-h India government -av- It ■- ini|io-il»le to mak«
any accurate estimate of the -tea k of gold com and bullion n<>» m the < wmir .
hoarding of the precious metal- ha- always been a sinking chaiai tensti of P4
of India The registration of the imports by M nan tines began in
that vear to 1907 8 the net imports have been 16.0.3. >43 .* .t vrt<ap
imported. The rupee value of the net im|wto «nw I83o^coi ,m o1- ^
if exchange in each year, is calculated to I « *■ [.M Cut . * 1 .* . liwl
Indian gold The quantity produced since 1
£28,001,107. On the 21st of April. I90S. ihe balances
government of India were as follows
Calcutta ....
S4a.lr.Lx
Bomluv .
15. Approximate stock of silver coin
calendar year 1907 The stock of silver com
*13.221 9TV
4.Se.7tH
I.VU.0B7
in rough the mint-, ana since mew «««*- . ,„*«** of the native .
ornaments, u small portion finding it- wav mtt pht* import* of silver in
fit in 1 907 the sum ol fi. xn.- wal •>*_.
I V7.3U
0 141. IT*
ts: -Mi
coined for their owm benefit in 1907 the i|(H.x94.532 IQn-
1906-7 was 118, 198,857 ounce-, valued atlW,^-^^ ,.n(, the year «.
16 and 18 Amount of government notes ouWat »• >fl0 Tin-
Total value of notes in circulation March 31, i«W-
up thu-
fr-rupoe notes .
10-nipm noios.
20-rupw notes..
30-nipce notiw.
100-rupi-. nolm .
500-rupi'« notes.
l.OO-niisv notes
IO.OftVru|w*e notes
The reserve fund covering the govern m< nt n
bullion, thus
Baourltlea;
In India .
In Finland. .
In India . .
In Knjctan.l
Tout .
ouwundhw * ,'oin
and
i iv. iii
J.TWiW
REPORT DIRECTOR OF MINT.
254
17 and 19 Amount of bunk note* outstanding at the end of the year 190< None
No bank in India ha* a note issue _ ^ • . ,
H‘JO Actual currency of the country (told, silver, and paper, copper, nuku,
bronze; all interchangeable
21 There ia no premium on gold , .
22. No legislative measure* were adopted during the year 190<-8 with retereucc
^^VheTenort ‘Statistics of British India, Part IV ia), Finance, including statistics
relating to paper currency, coinage, public debt, etc . a copy of which goes forward
in this week's mail direct to the Director of the Mint
In addition to the above, I may say that the native state* of India have their own
mints. During the year 1907 these mints received 5,534,724 tolahs of silver (a tobh
equals 180 grams, troy), of which 4.003,724 tolah* were new silver and 1,630,090
consisted of old coins
Working or thk Mints at Calcutta and Bombay suinro the Year 1907-8.
Government or India,
Finance Department.
('almila, February !i, 1909.
receipts op oold
The tenders of gold by the public at the mints exceeded in value those of the pre¬
ceding twelve months by over 2 crores of rupee*.
The following statement comjiares the value and nature of the tendere with those ol
past years
CALCUTTA MINT
Year
Value of
sovereigns
and halt
sovereigns
of *oirreni
wetaht
Value ot
U*ht and
uncuiretit
sovereigns
aivl half
sorffriens
Value of
bullion
Total
190M> .
1805-7
1907-3 .
Rupeis
30.472.780
4(M*» 447
29 137 144
Rupee*
UK. 5.VS
779.053
104.104
Rupee*
164. 4SA
Rupert
S0.f*5N*»
40. 41 h. 410
29. 242,300
BOMBAY MINT
laoA-s .
1900-7 . .
1907-A. - .
Kupftt
14,381 7W>
14 330 U*> 4*411
44 5M.7SO 2.123 Utf
\ slue of
light and
uncurreot
sovereign*
and halt
asr ~ 'ST
so* ereifms
.
Rupert
240 0>
'fiSTtiM l4 2sT"t2 «T&?0 «
lKT, 422 14. mate 6A,U1.772
Sfs 71K. 445 R5 8SU.7IS
The value of gold coins which were so reduced in weight as to be taken ut bullion
value was only 272 rupees.
No gold bullion was tendered during the year, its receipt having been stopped with
effect from April 1. 1907
COINAGE OP SILVER
The silver coinage was as follows
Denomination
Rupees
ilaft rupee*
quarter rupee*
One-eighth rupee* .
Total
Value
^ ( alnilta
Bam hay
Total
Rupert
nAta.UU)
1 j attoi
2 frrf. too
2.7U0,Onn
HutMfl
10: fcr .wG
vr.M 3
Rupert
ITS W».WO
2 1SU.M*
2 Sr«. (Ui
2,780,000
72 son . HOB
10R.NSA.738
ixi.ua.ssa
Note -A lakh ut rupee* n lOG.OU) rupees and a mure Is 100 lakhs, or 10.000 (10D rupees
2oo
km partly alto thresh Wv-ml Wfe
EEPO*T DEUXTOE OF MIST.
H—d «- a- — > f^TuTS^ ^."•r* rr
wut noAict
Dwia^ the I >45.72* Bm*4> <WVr* erf ihe ■
mt* cwwd at tbe ftnabat aunt
I nine oi 4.415.#fl rapes
” «*«V o f the rear rw«t« d of mrr. half par*. sad r
Be of 3,839. 171 rupee* Outeft/
•f the
. — „ — 0i r - ralaeafane
niper* w*rv sapphed to the Iiikanir Durbar at a poor rrpnMntiot the actual
'kUi rouLa<.E
Xiffcel l-i _
,aibhc hw«»deoB Aarurt l i«r The ted c
▼Bine it 2.328. 5tti rvpw? The qm earn ,
cumktion »»mnwi to 1,771.738 rupee*
itoMi a\o (X>rm io»it,r
TV bntzf
cost of
Hie iMpprT < outac* comprised Simla Sctiieaarat* rmt> and Ovioa cent* and
haU cent* of th* vain* of 30.045 rupees
The net sain on bronze cranage which pasted into .urn latent Junua the year under
nmew amounted to 1.738.390 rupee* *.• compared with 1.244.311 rape***, which waa
the nan mi coppwr and hnoaze rmnafee in the preceding year
Nobbing or the .burltraru irCiuTm avt> Bohiat wtiw nil tu« 1907 -8.
MU. TING FOB rTAVDAI D COD5AGI.
The average fin»n#-*< per nulle of Blver mehnv* lor rotnac* dunnt the year was
ae follow*
IUM
casting amati or mli e* coins
The average proportion of gold found in the rtlver PX* *. i^vu 'kt 'o * urter
*» 0 1S5 n.p£. 0 20U lor h.ll ™p-™. •£« 2“^
•i«i on^Ull. rup«.. r^pocnoly Tbr ..Ivor ~uuffe «J “T In
computed to have contained 5,108 troy minces* oj ldd of th - •
the feombay mini the proportion war 0 195 per nulle for rupee. 0 137 f«*r hall rupee*,
and 0 1H for British dollars. . , , ur iibm contains an
The Journal of the Koval Statistical Sonet \ for »Pl ,, indu, upaD
article by Kml J Atktmim. accountant-general. Imled , .«*
the rupei price* in India from 1870 to 1908. from which the following *n»r
. “In addition to the rupee cirrulaiion 'oMh^poorwt
important item in India, non* wage* *» >ow “,l thP ' in
c laieee u. as much in email coin as it if in rupee** lU cirrulation. and
“Since 1S89 woven igne have been legal tender an , n coostdenaf its
must therefore be included m the active ctmilatioo of the counin
effect «»n price* r.n ulatiun of Indu for «*d» year
“Table IV give* the estimate! active monetary t t-tinuted rupee rircu-
from 1S35-J« Table V gives the details of the working f J* TahIr \ | give* the
lation from 1S93-W the year in which ihe mints w« re u, ^tion 11 of
eatimatc nf the rovereign circulation, eubjert t« the
this ) taper "
256
REPORT DIRECTOR OF MINT.
Table IV Active Monetary Circulation
Actlrr
<m ulaMon.
in ITOTW
of rupees.
of rupees
1*05 »
1K37 38
l*OK U
1H3U -»•!
1M4M1
imiaj
184 2 4.1
1843 44
1M4 -i>
1M.V*.
1*46 IT
1*47 4*
ms I?
1*4*4 Vt
1850-51
1K51 52
HvVL 38
1833 54
1854-55
IKVr Ri
1830 57
1*37 58
1858 «
183* -«>
.1 JM4M.1
r\ iNf.i 4 a
a iMu’-ia
3 I N.l
2». 1804-03.
JO 1MW.I4.
£7 lv--o7
Xm wr
HO* vi
J*. I*» 'll
_■> 1871V 71
JS 1871 72
X 1 <71 73
SS 1873 74
.1 1874 75
JU 1575 7o
15 1871-77
-‘1 1877 78
Jl 1878 TV
24 187V vi
A. 18VLM
a 1881 82
1.882 W
41 1884 M
5» 1884-85
1W7 S8 .
1888 s»j
1*814 90
1HU0 141
18*1-92
18*2 93 .
IHM 94
18514 U5
lvi.'i 9ft
1K5WMI7
1*7-98
1W«
1 WO 1900
1 *00- 1901
11401 1
1*02-3.
lOftl 4
1904 5
1VO.VO
1V0I-7.
1*407-8.
IVfK V.
Table V — Course ok Rupee Circulation After Closure or Mints to Free
Coin ao e irv Lakiis ok Hirers'
ucsm
Coined in mint.
Imported. sm..
Imported. Inland..
R*«id\cd from treasuries nosh l«i-
ances reduced on .list Man-h . .
Received from currency intestine
Received from hoards repUivd l»y
hull Ion . .
Received from paper iutimk )
cold deposited In India
Bndnd from paper rurwn v
fold deposited In England ...
Received for silver hulllon d< pudo d
in India.
Hwrlwil from tmsaury fur cold .
Total rooHpU
DISPOSAL
Exported. son. .
Reported, Inland
Paid Ui trcasurim (cash halaocea m-
crewed on 31*1 March-
Sent to mint for nroinacv .
Uolned for native states
Hoarded .
Paid to paper currency io tal* i.u,.
of cold In India. .
Paid lo paper currency iu take piare
uf cold in England .
Paid Ui *11 \ i r I’Ulllon Indu
laid to treasury for gold
Paid to gold-standard reserve
Total disposal.
Ilalaner Incmue in circulation
Balance d<vr<sw In rlmilafl.i
1NBMM
18*4-145
J8UVW,
I«4t-W7
U447-90.
1888-99
HMV
11400
11400-
114111
4 14
4il
42
1.30
17. 15
M
M
74
1 02
| 1.11
4R
40
52
A
H
21
; •
36
3,04
0.08
2.03
4,13
2.00
2.50
1. 18
1.00
1.3)1
2.22
83
1.07
30
3b
2.80
2.25
1,77
44
5 14
8.27
7.44
4. *
435
18.21
10.94
43
1,37
1.10
1,01
1.54
2.02
1.43
1. 40
<»
23
a
S
10.2*
2.11
78
3 3t*
31
0
27
ui
50
30
70
31
u
2,10
4»
42
30
2.W
2.12
2.21
i.50
1.80
| 2.314
1.20
2.50
1 2.50
i 2.35
87
! .
.
U Ms
3,50
3.04
3.74
8.76
3.07
3,0*
14.67
M*1
1.55
4.73
3.70
2.W
' l.ta
14.52
3.27
KEPORT DIRECTOR OF MINT.
257
Table V —Course ok RurEE Circulation After Closure of Mints to Free
Coinage <in Lakhs of Rupees)— Continued.
disposal — conuuurd.
Active rape? circulation ISV2-93— 141
Active* small liiwr coin circulation
Active sovereign circulation lv/J-93
—0 (see explanation, sec. U)
Total active circulation 18W-03— 149
Average value of rupee In pence
A tens*. value of silver bullion In
Item*
Coined In mint
Imported, sea
Imported. Inland. ...
Rets iced frun treasuries 'crash 'nu¬
ances reduced on 3lst March >
Received from currency Investment
Received from hoarls replaced by
Received from paper currency for
cold deposited In India
Rwlwi from paper currency for
Fold deposited in England
Received for silver bullion deposited
Total receipts
DISPOSAL
Exported, sen..
Exported, inland. ,
Paid to trsaaorks (cash lialanre-s in¬
creased on 31>t March)
Sent to mint tor recotnage .
Color'd for native states
Hoarded. .
Paid to paper currency to take piac»
of yold In India. , . _
Paid to paper currency to take plate
of polu In Knglond
Paid to sUver bullion India
Paid to treasury for Fold
Paid to gold-standard reserve
Total diMHwal
Balance increase In circulation
Balance decrease In circulation
Active nipne circulation l*ac 4)3-141
crores
Active small stlvr
1SO-93-S crores..
Active sovereign circulation I w-
93-0 (see explanattou. sec ID
Total active circulation 1JBO-WI— 149
crores. .
Average \ aluc of rupee in P' "{'p
Average value of stiver bullion in
Bombay, leas Import duty —anna.
per lotah
[
10.01 I
14.54
5.00
9.41
11,21
54
1.59
1,64
1.70 1
11
11
U
1
1.70
15.9®
1,75
ia 002
1 8S
IA(H7
10.79
9- 51
ia50
2.D
l»i <*c
2 41
16 0K7
2.42
Ut(C9
2.35
IS. AM
U- 42
12.39
H«j
9l 79
19711 — 10 - 17
258
BEPOBT DIB EC TUB OF MIST.
Table VI.— The Cibctlatios of Sovereigns nr Ripers
fOOte omitted £1-15 rupee*.]
BKflRL
Severe: ms imported
Received from tram., . .
Received from paper-currency de¬
partment.
Received from gold-standard
8,71.86 13,88,43 U.CB.4B 4.18,17 8,04,14 •,•8.87 1,81.87
« . 21,73
r.«l 10,87,88 38,70 1.43, a 3,».o4
•, . 3,36 ... .
ToUl
. . 8,71,88 12.88,43 13, 10,08 14,87,06 8.31,43 11, U.41 3.83,74
i u« -
i= . i;» :::::::: :::::::::
' paper-currency de¬
nt . 4. a, 34 1 41 m
- - «d to gold -standard reserve . A
Melted and hoarded (oolamn 15— col -
m 14 to limit of sovereigns araii-
»•> . 1,84,83 . .
Total
—4 . i . ;
7,33.21 8 06,88 8,86,83 10,87,34
. }'I5'5 4,81,43 4,42,34 4,88.72 7,86 77 11 11 36 3 15 12
tSTbSBtpioi pro. lM* #ao'“ ,0-72 a «:«.» »:»:« * ;£«
stlmatod wqulm? tor other than 4,15 07 4’“® *'79**7 •.84,10 10.77.4111,81,88 7,51,90
for currenr v purposes (me explana¬
tion. . 6 0l) 00 6,00.00 0,8), 00 8,40.00 7,00,00 7.00,00 7,00,00
Circulation of
Not import gi _
duction In connl
8. The estimate of rupee* melted into ornaments.
of the circulation anil it* ofiwtonorim ^ •* before coneidennir the course
REPORT DIRECTOR OF MINT.
259
effect from September 1, 1835, directed the coinage of the company’? rupee weighing
180 grain? and a standard fineness of eleven-twelfths, or 165 grains of fine silver, and
declared it equivalent to the Bombay, Madras, Farrukhabad, and Sonat rupees, and
to fifteen-sixteenths of the Sicca rupee. Act XIII of 1836 discontinued the Sicca
rupee as legal tender In May. 1838, the Bombay. Madras, Farrukhabad, and Sonat
rupees were declared to be still legal tender, but were receivable at the mint for
recoinage without seigniorage. Those coins were declared to be no longer legal tender
from June 1. 1878. In 1896 the silver coins of 1835 (coined between 1835 and 1840)
were called in, and in 1901 those of 1840, representing the coinage from 1840 to 1861,
were similarly called in.
The coinage of rupees between the years 1800 and 1835 is recorded at 65 * crores, and
it may be assumed that the bulk of the coinage previous to 1800 had by 1835 either
been returned to the mint for recoiuage or had otherwise been disposed of. Of this
coinage about 23 crorea is recorded as having been tendered to the mint between 1835
and 1876, and a certain amount of the coinage must have found its way to the mints
before 1835, of which there is no record. Some must have been exported, and a small
amount was possibly lost during the mutiny, and some possibly still remains hoarded.
Altogether it may be estimated that under 28 crores out of 65* crorea of this coinage, or
40 per cent, was melt id down for ornaments during the seventy-six years life of the
coin, probably nearly the whole before 1840, allowing the new coin five years to circu¬
late into the interior. . ,
The 1835 coinage amounted to Rs. 16,39 lakhs of rupees, and the 1840 to Rs. 10,782
lakhs, making a total of Rs 12,421 lakhs It may be assumed that very little coin
coined after 1861 was received at the mints for recoinage for the next twenty yean.
The ‘total number of rupees and small silver (the statistics do not separate the two)
received at the mints between 1835 and 1881 was Rs. 25,87 lakhs, of which about
Rs. 24,50 lakhs niav be estimated to have been rupees, and of this about Ks -3,00
lakhs ante 1835 rupees, leaving Rs. 1* crores of 1835 and 1840 rupees. From 1882-83
to 1895-96, the year in which the 1835 rupee was called in, rupees of all yean sent
to the mint for recoiuage amounted to about Rs 3} crores, and not less than three-
fourths of this, or Rs. 280 lakhs, must have boon 1835 and 1840 rupees From 18J6-J7
to 1901-2, the year in which the 1840 rupee was recalled, alsrnt half a crons of 1840
rupees was received Since the recall of the rupees, Rs 3* crores of 1835 rupees
and Rs. 25 j crores of 1840 rupees have been received at the mints Thu "WWW
accounts for Its. 34 crores, and it may be estimated that another Rs 10 crores will
eventually be received, making a total of Rs 44 c cores in all ,
The total amount of silver exerted by pea between 1835 and ISO-, the >«*ar during
which this coinage proceeded, amounted to nearly R*. 23 crores The statistics
show that the gross imports of silver bullion up to 1857-58 went to the mints for
coinage, and the Export of silver up to that date, amounting to Rs. 17* crores must
have been entirely in rupees. During the mutiny yeans then* was apparintl) a
netlmport of coTned rupeSe, but the net export up to 1863 was about Ifc. 18 crores.
To\bi.s must bo added the export inland across the frontier, which may be estimated
at Rs 3 crores. making an aggregate export of its. -1 crores. w
(rom 0Uh°. old com mu.7 K.l 1^,“ ,u,,taud,DK.
To c^ Ly be wtimated to represent 1835 and 1840 rupees melted down.
f The 1835 (five yea’rs) and 1840 (twenty-two years) coinages thus work out as follows.
~ I i»mc Kupe«.
Coins! . .... ■ • - • iwrLV-issl • • 1.80.00,000
1835 aiid 1M0 coin rcuirned to mini. 1M.VJSO 2 HO. 00. 000
nan and 1840 coin relumed to mint- invwsw 50.00.000
lMOcolnrrtumcd lomlnl, 1«H»-I00l -• 3,80,00 .000 .
1835 coin returned to mint, . 25,70.00.000 .
IMOcoln returned to mint . I901-I90P 10.00,00.000
Estimated further expected receipts 21 00.00.000
Exported sea and Inland . ••• 10.00.00.000 .
Estimated melted In native mlnU^. • - • • . 6.00,00.000 |
Iyost In mutiny or otherwlsie unaccounted tor - - - ; — ! - —
Hslanre unaccounted . , . I
260
REPORT DIRECTOR OF MINT.
From them* estimates it would appear that Rs. 43 crores, equal to about 34 $ per rent
of the 1835 and 1840 coinages, were melted down into ornaments. This at first sight
appears excessive, as in addition to about Rs. 18 rrores of bullion apparently used
for the purpose between 185S and 1866, allowing five years for the circulation of the
new coin, it means an average of nearly Rs. 2 crores a year, an apparently improbable
figure when the extent of the population and poverty of the land are considered.
On the other hand it is possible that at this period natives may have thought it wiser
to tum their rupees into ornaments rather than to hoard them, and it is also possible
that a considerable amount of this coinage, which had the apjiearance of looking
larger than the succeeding issues of the rupee, may have been melted into ornaments
and hoarded for many years after 1882, instead of the new coinage.
This latter suggestion is strengthened by the fact that the 1835 and 1810 rupees
recently received at the mints, amounting to Re. 29f crores plus the additions that
may be expected for several yarn to < <«ine, are popularly Relieved to have been
taken out of hoards, and the inference is that all such rupees in hoards must have
been placed there during the issue of the coinage, as natives ordinarily prefer to
hoard new coin to old. This would imply that some 40 crores of rupees were hoarded
up to, eay, 1863, and if this had actually been the case a reference to the estimate
ot the rupee circulation during the period, after alio wing Rs. 12 crores already estimated
as hoarded up to 18C3, will show the circulation reduced too lowr in certain years to
enable the trade of the Empire to have been carried on. The probabilities appear
to be that this coinage remained in circulation, and was both hoarded and melted
into ornaments for many years after 1S62
As regards the coin melted into ornaments from the coinages since 1862. the coinage
from that year to 1892, the year l>eforo the mints were closed (thirty-one years 1,
amounted to Rs. 203§ crores. If the number of those rupees melted down for orna¬
ments \vas in the same proportion to the coinage, as appears to have been the case
for the issues between 1835 and 1861 — namely, 34 per cent— the coin melted down
would amount to over Rs. 81 crores, or an average of over Rs. 2$ crores a year, and
with the bullion that must have been used for the purpose, about Rs 60 crores. or an
average of over Rs. 4$ crores a year This estimate is clearly excessive. If Rs. 81
crores were taken for this peri<*d it would mean, with the previous figures, that Rs
124 crores coined silver money and about Rs. 76 crores in silver bullion, makiug
Rs 200 crores in all, had been utilized between 1833 and 1892 for ornaments, repre¬
senting about Its. 9 s. worth of silver ornaments to the hands of everv man, woman,
and child in British India in 1892, or nearly Rs. 19 s. per head for everv female
including children. This is in addition to £30,000,000 in gold (Rs. 45 crores), the
bulk of which must also have been utilized in ornaments, h mfly therefore be
assumed, after allowing for the use of a considerable number of the 1840 coin for
ornaments during the period, that the rupee consumption of the 1862-1892 coin for
ornaments did not exceed Rs. 40 crores, which, with the bullion used for the purpose,
makes an annual average of nearly Rs. 3 crores.
Ah regards the period 1893 to dale, after the mints were closed, the rupee became
of higher \alue than the bullion it contained, and the practice of making ornaments
out of coined rupees must very soon have ceased.
9. The estimate of rupees hoarded.
portion of rupees hoarded, taking the coinage previous to 1835, which was
called in in 1838 wo find that about Rs. 23 crores of the coinage found its wav to
t?78^Lhen lt.ceaa°d to be legal tender. This, however, is no guide
to the amount hoarded previous to 1835, as much of the coin w^as necessarily in circu¬
lation and gradually found its way to the mints without going into hoard* especially
as the bulk was received between 1835 and 1854 K ’ 1 '
l° "C n'5; R*'.16i frore*- the coin hoarded between
annual average of R*. 117 lakhs a year far cem of l1?0 ro,na£°* t,r an
J "*» “< lh”> «—*• tec^cetT'aMho^minte^m-e^l^ad^antf ^elieved^tohave
REPORT DIRECTOR OF MINT.
261
come out of hoards. In both cases, especially in that of the 1840 rupee, the proba¬
bilities are that this coinage was put into hoards for many years after 1861. Next
taking the period 1862 to 1892, the coinage amounted to Its. 2,03,50 lakhs, and if we
take 24 per cent as hoarded, the amount hoarded was nearly Rs. 49 crores, equal to
Ra. 157 lakhs a year. This estimate appears possible, if the prosperity of the country
during the period is considered. The amount hoarded, of course, increased annually
as the population and wealth of India increased, and it may be estimated that, com¬
mencing with Its. 70 lakhs in 1862, the amount hoarded gradually reached 2 crores
by 1892.
10. The circulation of small silver coins.
The small silver coins of India consist of the half rupee, which is legal tender for
any amount, one-quarter rupee, and one-eighth rupee. The circumstances of India
are such, wages being comparatively so low. that the circulation of small silver coin
might at any time, if issued in too large or too sniall quantities, assist in inflating
or contracting the currency, and consequently in estimating the total active monetary
circulation, tne circulation of small silver coins should be included.
The small silver coinage from 1835-36 to 1892-93 amounted to Its. I6J crores, but it
is not possible to sav how much of this was returned to the mint for reeoinage as no
statistics were kept', nor how much was lost or used tor other purposes^ It may,
however, be estimated that about one-half was either returned to the mint, lost,
UtF*>m 1893-94™ “l OOH-oTlle coinage amounted ^[*££^<3
fo. .<». etc .
11. The circulation of sovereigns.
By notification No. 3287, dated October 28, .JjJh* goveranwiit
English and Australian, of current weight e equivalent of 10 rupees 4
treasuries in payment of sums due a- U <1 value of the rupee
annas and 5 rupees 2 annas, respectively 1 he Jail in rne g
prevented this notification from ever being 1 an<i half sovereigns were
Bv notification No. 2663, dated June 26 due l0 (;overn-
deckred receivable at govemment treasi^n^ pa^m t 18W> passed on
ment at the rate of Rs. 15 and Hs. .M^pec^ely and ^ ^ ^ be ^tender
September 15, 1899, sovereigns and .half wveretgns * ^ beRan to be pre-
at the same rates The effect of this nd f that date the importation
sented at the treasuries from September. 189J, ana iro
of sovereigns commenced to increase.
mi _ . i _ a ..t onvnroifnis
Bovcreigns. miw 1 difference m tne
country, would have made a very niatirul <!>»" ^cr(ain (roIU such mformauon a»
lVh beSle how mVcroTTh^ import wen, into circulation, and tin. haa
'lulrfacmm i^eattmam ^own e^ept gOd
««« ■««.
The net import of gold during ttj 16d to the rupee toR*. 48*
£35
Rs.
the
tne declaration ui ArAS or an
only to £26,775.000= R* 40 crores, or
262
REPORT DIRECTOR OF MINT.
this period includes the years preceding and succeeding the cuiTenov legislation,
when the economic conditions were in a state of transition, the price of silver in its
relation to gold was falling, and actually fell to 12$d. to the rupee in 1894, and gold,
which had to be paid for in silver, became an expensive luxury for even the richest
in India, and during the three years 1892-93 to 1894-95 the net export of gold was over
Rs. 6 crores It is necessary, therefore, to take the period 1882-1891, when conditions
were normal, and gold requirements in India for purposes other than currency were
on un average Rs. 535 lakns a year. Between 1882 and 1891 and 1889 to 1908 there
was, however, a considerable difference in tho condition of the country. The revenue
returns show that it had grown richer, and though famine or scarcity were not uncom¬
mon during the period, trade increased enormously, and whatever may have been the
fate of the poorer classes, the wealthy, the buyers of gold, unquestionably had grown
richer and must have required more gold, and to add to this, the fact that tho meud
could he purchased at most treasuries throughout a great portion of the period was a
distinct incentive to purchase it by those who would not otherwise have done so. It
may therefore he estimated that the average annual requirements during this period
amounted to Rs. 600 lakhs at first, and subsequently reached Rs. 700 lakhs, and pos¬
sibly the purchases were considerably higher during the last few years.
The figures worked out on this basis show that there was no circulation of sovereigns
up to the year 1902-3 Gold was received in and paid from the treasuries during the
three previous years, hut the circulation was temporary” only, and was practically
absorbed as soon as the gold left the treasury. From 1902-3 the sovereign circulation
rapidly increased to Re. 39$ crores =£26, 000,000 by the end of 1908-9. As a matter
of fact, however, sovereigns are practically out of circulation in the present year
(1909) and a premium is asked for them in Calcutta and Bombay and in the principal
towns of India. Sovereigns can still be obtained in small quantities in places, which
indicates that there are still some in circulation, but the total can not exceed Rs. 2
crores as an outside limit, and half a crore is probably nearer the mark. There must
therefore he something very” erroneous in the statement, though it is not possible to
say where the error lies, as all the figures are recorded figures, excepting hoarded and
melted, and high figures have been estimated for that head. It would seem that the
circulation could not have increased at the rate shown by the figures in Table VI
during the years 1902-3 to 1908-9, and that either the gold was melted down or hoard oil
in larger quantities than estimated, or that sovereigns took the place of rupe** in
hoards In any circumstances it was very remarkable with what rapidity sovereigns
were withdrawn from the treasuries in 1908 and disappeared from circulation, and
indicates that the actual circulation at the time was not so great as the figures sug¬
gested. In this view the circulation of sovereigns for the purposes of the total circu¬
lation in Tables IV and V have been taken as 1, 3, 5, 7, 9, and 5 crores of rupees for
the six years 1903-4 to 1908-9, respectively, and even these figures appear too high
for the last two years. 1 r
12. The course of the active monetary circulation.
ante'1835 ™P®* wero presented at the mint for recoinage
alter 183o. A total of Rs. 35 crores may therefore he estimated as the actual circulation,
including the treasury cash balances in 1835. The iigures given in Table IV as the
casl^ balance*11011 lnc u<^° rul>ee8* 8Inall coin, and sovereigns, but exclude the treasury
show rUiat “S*1 emulation remained practically the same from
183o to 1848, varying from 23 to 28 crores of rupees. During this period there was a
severe famine in 1838, and war with China from 1839 to 1841. In 1845 the first Sikh
mO Th^wunTan. ^ 1H?8, *oll°wed by the annexation of the Punjab in
appear to have depleted the country of money, and sufficient fresh
shx ks were not brought in, with the result that the circulation fell to Rs 19 crores in
L rr° very ,ow at this P^od, index number 71 in 1843 aiid ^ain
71 in 1853, with intervening variations, a rise to 80 and 89 in 1845 and 1S46 having
bocn duo to scarcity condition., and ihe fall in iho drculaion do^notamR«W
crores in 1866 an toei£»nf n. "rculal,on r°*1 t"™ Ra- 32 crorea in 1856 to Ra. 105
laUon ranged at pnn-.ic.Uy Uto aanto Zount, sUdEg ZtSZ
REPORT DIRECTOR OF MINT.
263
was 72, but a rise commenced in 1859, reaching 109 in 1865. and 130 in 1866. The
high price* in 1866 and subsequent year* were due to famine condition* and their
results. From 1870 to 1876 prices remained practically the same at about 100.
The rapid increase of the circulation between the year* 1856 and 1866 had, however,
the effect of raising the level of price* from 72 (1843^1858) to 100 f1868"}876)- t['e
rise occurring between the year* 1859 and 1865, and the new level of 100 may be
regarded a* having commenced in 1865. 1 Miring this period, from 1857 to 1876. the
mutiny broke out in 1857, and continued through 1858 and com was required to
meet the heavy expense* connected with the payment of troops etc.and todo this
the British Government made a loan of 6J million pound* sterling to India. Jilting
in heavy coinage, in 1857, 1858, and 1850 and in addition rapjw (onnd to
import. ' This cauacd a rapid increaw in the circulation. With the "W"*1®" ™
the inuliny and the transfer of the administration to the ntn SfJTKSoLed
era of commercial and industrial activity, and the count™ ,3l» The \mmc-M
by the construction of rav/a^eat impetua to the cultivation of
war of secession lasting from 1861 to i860 gave a gr a 1 .. . rondi-
cotton in India, high price, ruled and large profit. to h«4 toporHf
tions required a large active ^ul^,n ^ ^ Jnd w£v„ on return of normal cop-
silver and high coinages in 1863, 1864. anfl l is o, jcvel wftJI returned in
ditions price* should legitimately have ®T t- ’ . ♦o’ its needs at lower prices,
consequence of the inflation of rite curreney ‘ > . n (h hM ,„.tancc, but the
1 ■ ~ ** —
sary corollary of the then inflated currency. increase and reached K*. 131
from 1877 IW. I8^*"d
crores in 1887, an increase of 11* -< ^rore* condition* but returned to 103 by
1879 were abnormally high j « remained at 100 up to this year
1887. From this it appears that the l*»el « P" 18?7 and 1887 wa„ necessitate.! by
and that the increase in the circulation ,ntrv and did not constitute any
the increase in the wealth and prosperity of the country,
inflation of the currency. increased to R* 149 crores in 1892. the >ear
From 1888 the circulation rapidly increase cl > ^ fiyp yean, and during t his
before the mints were clGsedanmcreasi o -j ^ riod the rainfall was “""?***[
period food prices rose from 103 to l W. > • 1 1801 hut in excess in lH92-
In excess in 1888, 1889, and 1890, slightly do the rise in paces. I>ur-
scarcity condition* had thcrcforc httle or noth g irnportcd into India, an d n early
ing these five years It* 57 crores of «lverwere^ tnulo was
45 crore* of ruiiee* were coined. The > . L j|lf. circulation aa* n<sc*«*ry
n ".... Lnoo, indicated that «* > " J.„ m;„t, and th.ir expected
of rupees were coined The Xf" w«'n«-ra-ry
all the circumstance* indicated that some ^ but open mint* and their
to meet the increase- in P°l’"Ja‘>?" icc| .jlver bullion being mij»rted It : 1 h
closure to the free coinage of ralv " ^kL.n to the mint., with 3
car the circulation con
iraK?V7cro^
. d,orirei„ .8f and wf g^^m.a.b
year? hut^ut^f^^prni^Jtion^to^the^cxtent of ^humper^jsoar
another ^nearly a, {gd. jbe y«r Jj£tIj3l£Si.£ ^‘^^^T'n'.fradu^
fell to 121. and “ and plentiful a^wjPJ} fo rw,H.riiy. and
after a sene* of years of nv tho level me at a time when India’s opio
to their former Icye T.li^nded currency, which came at a wn ^ ^ ,.xce-
good tradq, requiring an • llv deprecating m thi l when the mint- were
& attracted silver then the currency, *n* when ^ ^ „till
of actual rcqinrements. and tn.t.ons h#d returned comiag into play. *«
closed and the 9con“mlh forrnCr conditions, and, othe 1 tbl. c-ub!i*hrnent
inflated in ndation to thc jon of the paper. "Sfcd 18KHnn.l 1895 may be
^ condition,, approx.-
fixed at the average of tnoet .
mately at 118.
*264
REPORT DIRECTOR OF MLST.
The year- 1896 and 1S97 were affected by (amine condi and the effect* were
Mill felt in l?9v though to a considerably greater decree than they apparently should
have been The year* 1S97 and lSifb had practically normal rainfall?, and price-
fell during !$» to the new level of 118 till the end of the year, when the serii*,-
defiriencv in the rainfall of the year war realized and price* rapidly rose. making
the average of the year 122 followed bv 152 and 148 in the two succeeding yea re.
The level of price* may therefore he faid to have remained at 118 up to 1859. and op
to that year from 1855 to 1898. the < ire illation remained practically the same.
The year 1900 had normal rain, 1901 and 1902 were deficient. 1903 normal, and 1904
slightly deficient Fr«xl price* r**- fn*n 122 in 1899 to 152 in 1900, and 148 in 1901 , due
to famine a >nduione, but fell to 118 in 1904 The circulation nee from Re 150 crores
in 1898 to R>. 171 crura in 1900. partly by the deposit of gold in the paper currency
department, and release of rupee*, and panly by a reduction in the cash balancer, ad¬
ditional circulation being necesBary to meet the (amine conditions, the increase beinj
Rs. 20 crura in two year? It ieil'to Rs. lTOcrora in 1901. and ruse to R* 175 crura
in 1902, Rs 188 crera in 1903. and Rs. 200 crura in 1904, an increase <*f Rs. 30 crora
in three year* When normal, or nearly normal, condition? again returned, it would
seem that this large increase inflated the currency, and although prices fell to 118 in
1904-5, it is probable that a higher level had then actually been reached. Looking at
all the factor? m the case, it would -eem that the lev el from 1900 to 1905 reached 125
The year 1905 had a deficiency of 16 points in the rainfall. 1906 was normal. 1907 de¬
ficient. and 1908 u renal Food prices ruse bum lift in 1901 to 139 in 1906. to 167 in
1906, to 178 in 1907. and to 202 in 19U8. The circulation ruse from Rs. 200 crura in
1904. to R» 215 crora in 1905. to R# 241 crora in 1906. »nd R- 242 crura in 1907. an
increase of R* 42 crura in three year?.
During this period the agricultural returns show that, crop deficiencies in certain
year? in certain areas notwithstanding, the country was in a prospermia condition, and
this is further borne out by the fact that both internal and external trade was brisk
throughout, the export «f men handbe increasing bum R- 98 crura in 1897-5*8 to Ra
lo enres in 1907-8. and government revenue came in in increased quantities The
great increase in trade and pmsperitw clearly required an extended currency, but
the rise in the circulation was so rapid and so great that it must have been out of all
proportion to the necuMitics of the case, the currency consequently became inflated,
and the food pricey of 1905-6 to 1908-9 rrae considerably higher than the area sown
and yield «.f crops conditions of th.jee year? justified, and were apparently affected by
the inflation of the currency
During lSKK. by the cesatmo of the rupee coinage, the absorption of Rs. 9{ cron*
into the gold standard reserve, the return of Rs. 7} crora into the paper currency
for the gold previously held in the currency of England and in India, and the disap¬
pearance of the bulk of the gold em ulation, partly counterbalanced by the reduction
of Rs 3f crura in the cash balancer contracted the currency at the end of 190k- 9 by
about Rs. 19 croree, making it Rs 223 cruras, which re-presents an increase of Rs. 73
crora in excra of the circulation of 1898-99. an excess which can still further bear a
substantial reduction, though further reduction should necessarily be carried out
with circumspection m order not to interfere with the bee flow of trade When
Prices reach a high level in times of prosperity, and not for reasons connected with
short crops, it becomes a very difficult matter to reduce them, hersm* hv rLr.i^ «> the
From 1M3 to IV.- .
From 1*65 u> 1SK7.
Index cacte
food prices
72
From UM) to L«BS
From 1W0 to Iwm
From l«B to date
RKPOBT DIRECTOR OF MINT.
265
Thus wc find that the ris*cn< in the level of prices from 72 to 100. from \ U to l->. and
from 125 to 135, were in the Jiixi instance in consequence of a rise in price due tosoine
special cause. war or famine, which in itself necessitated an increase in cumocy.
and being followed bv prosperous years, the circulation increased more rapidh than
circumstances necessitated. and resulted in the inflation of thccunwcv .and ^ennor-
mal cStions returned prices did not revert ttor »«>»
will be presently discussed, but which were assisted b> the highl> inttated coimiu u
°fThe riTinTlu- level of price* from 100 to 118 was a»- U.» peri-l ^ F'X'mVul
the time that -elver to- becoming rapidly
Kis: . - .
the other increases in the level of prices.
COLONY OF HONGKONG (BRITISH*
(Population. 4DOJOOO 1
AMERICA V I-OVMIAK
Answer* to interrogatorus. I90S.
(Hongkong), -w, . . — .
* iVA executed for other . V«J
4. Weight of fine gold.uaed into on-men*. Qmte an
small amount by mdiMdual §nJ. W(1rki*«i into gold loaf ' b> the (
amount of Japanese gold yen industrial art- during the calendar > »”-‘r
5. Weight of fine f™***
*,urinK 'h“ C"'™'Ur >W
gold
Country of origin and donation
Import*. Export*.
Strait* Settlement
Shanghai
India _
Japan
l^ndon .
Ran Kranriaro.
Maiiilu.
Auidralia. .
Saigon
Slam.
dot hi*
1 1;.. itw
i-V., jo*
223. 100
1. 107.300
JO.
•>. am
12.000
3.7KLrtl0
Hvlkoni
d<Uu*
•4S.3UO
24.300
3.A22 *0
.702 IM>
u.a*u
i il 800
i. 7112.000
. San Francisco carried some dust, aTto unp^rt- and
sport* of gold, and h , thc above and all vah ‘ “ * f 190s (demand
266
REPOBT DIRECTOR OF MINT.
7. Import and export of solver during the calendar year 1908:
SILVER.
Countrr of orlpn and destination.
Imports.
Exports.
"s&r
. 219,100
. 12,247.600
ttS!
6. M3. 900
2,150.500
liwIU^ .
4,573.000
5,409,700
1 , 346. 700
. 87,000
210,000
610,200
435,900
CL' ^
. 9,207,700
51,400
. 177.300
286.000
. _ 7.300
52,000
. 600
860,200
. 236,500
106.700
Siam . . . . . -
727 300
Sort. -The import* of Mlver Iroro Sen Franrtsuo were chiefly In bar*.
In addition to these data a#< to silver, it should be noted that the Chinese import
and export to an extent of which it is impossible in this port to obtain returns.
8 Total unport of United States gold coin during the calendar year 1908: 128,400
(Hongkong . (See above.) Of thii, some small part was gold dust.
9 Amount of United States gold coin deposited at mint and melted during 1908:
No mint.
10 and 11. Gold and silver produced from mines of the colony during 1908: No
mines
12 and 13. Output of gold and silver from refineries of the country during 1908: None;
no rehnenes. Production of gold leaf by Chinese from Japanese yen and sovereigns
for 1908, estimated at about 200.000 taels, Canton weight (1 tael Canton weight equal
to 1.206 ounce- ; approximate value $0,074,000 United States currency.
Hand 15 Approximate stick of gold and silver coin and bullion in the country at
the close of the calendar year 1908 This colony being on a silver basis, no gold in the
colonial treasury, and practically no gold coins in circulation. The Hongkong and
Shanghai Bank report #52,600. ’The •Chartered Bank" ^second largest) reports “Do
not stock gold at this bank, as it is not legal lender here. We import or export only for
exchange purposes.” Other banks to the same effect.
Hongkong and Shanghai Hank .
< hart err <1 Jlank .
International Hank . . . .
Um-antllr Hank
Other banks (estimated) .
In circulation (estimated)
Silver
Hongkong dollar.
19,700.000
4.386,‘JOO
leu.ooo
3.400
900,000
300.000
No silver in colonial treasury
16 and 17. Government notes outstanding at the end of the voar 190S None; no
such issue.
!8 and 19. Bank notes outstanding at the end of the year 1908: Onlv3 bank* issue
(see following table) * 3
Retlrxb or the Ayeraoe Amount of Bank Notes in Circulation and of SrEciE
in Reserve in Hongkong. During the Month Ended December 31, 1908, as
Certified by toe Managers op the Respective Banks
Banka.
Specie in
reserve
In2U- *n»trmlia. and China „ tno ooo
::::::::::::: &§j8
Total . . . . . —TZ
. . . . . . 30.3Ej.326
REPORT DIRECTOR OF MINT.
267
AMOUNT OP PAPER CURRENCY IN CIRCULATION.
The notes of the Chartered Bank of India, Australia, and China, the Hongkong and
Shanghai Banking Corporation, and the National Bank of China (Limited), in circu¬
lation during the year ended December 31, 1908, were in amount as follows
Month.
Chartered
Bank of In¬
dia. Australia,
and China.
Hongkong
and Shanghai
Banking
Corporation
National
Bank of
China
^Limited).
January .
February .
March . .
190S.
. . 14. 124,968
. 4.021,672
. 3,660,781
810,444,055
10,391,300
15,064.004
14,893.807
8349,050
344,641
305,610
April .
. 3. t)08, 685
230.560
May .
Juno .
. 3,683,358
. 3,661,452
14.470,281
13,950.440
304,635
136,522
Juiv. . .
. 3.068.772
15.023,636
12A.914
August .
. 3, 765, 479
14.594.184
108,230
96,221
September .
. 3,936,775
15,319.673
October
. 3.729,743
15,240.894
86,114
79,134
November .
... . 3,632,097
13,913. 287
December .
. 3,735.318
16,776,952
73,056
_ ! _ :
- - 1
—
ACCOUNT8 KEPT IN.
The accounts of the colonial government were formerly kept in .tiling, but from
July 1, 1862, they have been kept in dollars, in accordance with instructions from Her
Majesty's secretary of state fur tnc colonies. . :n
The accounts of the mercantile establishments are and have been alwa>« kept in
d<2o“Vtual currency of the country: Practically no
bronze coins the onlv legal tender No go\ennuent paper m • .P 1 f>enj,i«w
not legal tender, hut abundant. The ^tual cun^yu rtm Ivor coin.,
cash, and bank-paper issues. (See inclosed being Silver p«>l<l can not
21 . Premium on gold : The actual currency of tbccou \ ( jH b(lUlrhi ..r sold
be said to be at a premium or a discount, as compared thereto. Gold is buugm
“Sir, ITS’ 'during the year t^ affecangthe currency. None
23. Report published on operations of mint No mint, no mm
law affecting currency.
4. Order in councif of February 2, « f-bUebed d.'I^d
diuarv of March 30. IMS, dec are* <h« > authored by the gov-
British dollars, or other silver dollars of equ > , nrovides that silver coins repre-
ernor of Hongkong, shall be tbeonly ^ejth p£r,. cf the said dollars shall be a
Hunting some multiple of tbe cent or one ar^a ^ por or bronze corns repre*
legal tender for any sum n,ot exceeding f-. orcjV»h representing one-lliou*andth
The above currency consists of the billowing to
gj The ^Hongkong' dolhar andhalf dollar i®ued Iron, Her Majeaty. min, at Hong-
kong
(3) The British dollar Maiestv’s mint, representing (a) one-half of the
(4) Silver coins i^uedfromHs * J one.fifth nari of the said dollar, corn-
said dollar, commonly called ’ £{, of the said dollar, commonly «*allcd
monlv called 20-cent piece ; (c)°ne-t< nU doIUr> commonly called o-cent
10-cent piece; (d) one-twentieth par .
piece. . from His Majesty’s mint, representing (a)
on(^C&0^r^“i.^com^ 1 cent, and <» one-thou-anddt
to -ond quarter 1,10, for third quarter
1/10, and for fourth quarter 1/9 per dollar.
268
REPORT DIRECTOR OF MINT.
Amount of Coin in Circulation.
Approximate amount of Hongkong dollars and half dollars struck at the Hongkong mint . $1, 421,487
Approximate amount of Hongkong silver and copper subsidiary oolna (50, 20, 10, and 5 cent
pleoes. and 1 cent and mill pieces) put Into circulation up to Deocmber 31, 1908 . 43, 999, MO
Amount withdrawn from circulation and sold as bullion, 1908 . . 535,978
JAPAN.
American Embassy, Tokyo , June 14, 1909.
Answers to interrogatories, 1908.
1. Amount of gold coined and melted during the calendar year 1908:
Gold ooined: Yen.
20-yen pleoes . 9,180,000
10-yen pieoes.. . 11,630,000
Total . 1 . 20, 810,000
Gold ooln melted:
Domestic ancient cold col
old coin..
Domestic new gold
Foreign gold coin . .
. 3,wn
. 4i
. 4,886,912
Total . 4,880,517
Total weight of domestic ancient gold coin and foreign gold coin amounting to 978
kwan, 103 momme, 4 fun pure gold is calculated at the rate of 5 yen per momme
2. Amount of silver coined, recoined, and melted during the calendar year 1908:
Silver coined: Yen.
®0-sen pieces . 12,744,107
. 3.001,802
10-aen pieces . 1,22^,000
Total . 16.973.909
Silver recoined:
Pje«* . 4.619,209
20-»en pieoes . l,9>.»»4
KMen pleoes . 1,228.000
T**1— . . 7,914.050
Total weight of old silver coin melted amounting to 41,989 kwan, 876 momme. 2
tun u* calculated at the revised rate of June, 1906, of 1 yen per 5.4 momme.
3. Coinage executed for other governments (Korea) during the calendar year 1908:
GoM: Yen
20-yen pieces . . ... . . . . *0 qoO
5-yen plecw . 311111131111111111111*1.* 50^000
Total.
Bronx#:
l-sen pieces. .
f-sen pieces..
1,876.146
. . 176,480
,,nd fin0 “•* “ durrn* the
0. Gold imported and exported during the calendar year 1908;
Imported: Yen
j . 3 . . . io'S «o
9^. forr«*n Hold ooln . . 2- J16
Gold imiuon i iA3,8i7 ounaao . ; "I":::;::;:;;:;:;;;;;;;;:::;;; . s 4«oSf
Total . . — : - : —
. . . . . . — . ... 16,900,049
REPORT DIRECTOR OF MINT.
269
Exported:
Sipanrsc gold coin .
ussian gold ooln (700 rubles) . . .
United States gold coin (*200,250) . .
Gold bullion (4,054 ounces) . .
Total . .
7. Silver imported and exported during the.calendar year 1908.
Imported:
Japanese subsidiary coin . . . •
Russian silver coin (150 rubles) — .
United States silver coin (*15) . . . .
Mexican States silver coin (113.000).. . _ .
Other foreign silver coin . . . * . .
Silver bullion (358,432 ounces) . .
TotaL .
Yen.
3,074,500
722
401,702
176,533
.1,653,457
Yen.
200.301
155
30
12,528
20
422,408
644.437
Exported:
Japanese subsidiary coin .
Indian sliver coin (7,074 rutiees;
Russian silver coin (438 rubles) .
United States silver coin (*34,773) . .
Mexican States silver coin (*18,506) .
Other foreign silver coin .
Silver bullion (5,582 ounces)..
Total .
Gold and Silver Imports and Exports op Formosa dlrino the
Year 1908.
fi.i*»
4,785
451
W.754
110.045
Calendar
Denomination
IMPORTS
Japanese gold coin .
Japanese 1-yen silver coin
Japone.se 1-ycn silver coin (stamped ) -
Mexican dollars ...
ITongkong dollars . ■ ■ » ■
Other foreign silver coin. . .
Sliver bullion ...
Total.. ; . .
KXPORT8.
Japanese gold coin - -
Japanese 1-yen silver coin. . .
Mexican dollars ...
Hongkong dollars. . .
Subsidiary silver coin ...
Silver bullion ...
Total . .
N'umlwr of Value,
pieces.
- a Ounces. Yen.
. 6,186
Convertible bank noies imported . "
TSJrrrSii"--- - A.™ import* during the calendar
1908: SI, 155, equal '“ 2.316 >s'" th<) Uni|<<1 Sulc, 0( America melted at tho Japauow
niiiitThVrinc't^calcndar year lOOS^ during thc oalendar year 1908 : 829, «7
^ , dunng ^ year 1908 31 ,529.838
w'SffSr-* Es as=- - — “ -
iTn andtuXmin the country a. the eloec of the calendar y«*r 1908^
. 41), 320, 409
OoW com 10 B<mk ol Japan aaroaarra l0T (,onvertll»le a01®*”-' 77.oai.trt
Gold coin in circulation... 78,371,836
<wltl aSSjfflSft' .1 Japan - * caav„U..la nou=..
270
REPORT DIRECTOR OF MINT.
15. Silver coin ami bullion in the country at the close of the calendar year 1908:
Yeh.
Silver coin in national treasury..
Silver coin in circulation _
Total silver coin . .
13,824,038
105,373,501
. 119,107,539
Silver bullion in national treasury .
Silver bullion in Hank of Japan _
Total silver bullion . .
B . 2,264,729
10 and 17. Thero were no government notes in circulation at the end of the calendar
year 1908
18 and 19. Rank notes in circulation at the clo«e of the calendar year 190S
Yen.
Convertible notes of the Honk of Japan covered by a specie resene . 169,504,514
Convertible note* of the Hank of Japan covered by guaranty reserve . . 183,229,758
20. Actual currency of the country. Gold standard ; gold coinsand notes convertible
into gold; subsidiary silver and copper coin.
21. Gold is not at a premium as compared with the actual currency of the country.
22. Thero was no new legislation in regard to currency during the calendar year 1908.
23. Copy of the report of the imperial mini, for 190S, is inclosed, also copy of the
statistical report, of the department of agriculture and commerc e for 1907. containing
the statistics for the bureau of mines. -
(Translation ]
Monetary Circulation in Formosa.
[From L' Economist* Europfen, Paris, October 1, 1909 ]
\\ hen Formosa came into Japanese possession, in addition to the considerably com¬
plicated old money which already existed, there came the bank notes of Japan, the
silver yen, and fractional coins to such a degTee that the monetarv system of the i“land
is found in the greatest confusion. Since tnc adoption of the gold standard in Japan,
in 1897, the Government decided to authorize the circulation of silver coins in Formosa
for a certain time, at a rate fixed by gold exchange, and to establish, when the opportu¬
nity offered, the same monetarv- system as that of Japan.
Thus, the monetary system of Formosa is that of gold monometallism, but with the
8^v?r c<?'n 118 subsidiary. The frequent changes in the rate of the silver yen,
added to the already large variety of paper money in circulation, render calculations
in commercial transactions very complicated, and have a tendency to promote a
spirit of speculation. Rad became worse, and in 1903 they considered a reform as
absolutely urgent.
Ry way of a temporary measure designed to remedy this situation, an ordinance
was promulgated in June, 1904, authorizing the issue by the Rank of Taiwan, of notes
convertible into gold. This decree was put in force the following month
In 1906, the project of revision of the law upon the Rank of Taiwau came before the
diet assembly in their twentv-eeeoiid session, was voted for, and the promulgation
ol the law reorganizing the monetary system of Formosa took place in February of
the same year.
Since the issuo of notes convertible into gold, their circulation has continued without
incident.
The old custom which the islanders had of hoarding the gold aud silver in their
bank? "** graduil,,y dl*PP®««d in proportion to the increase of deposits in the
x couvertible into silver have, little by little, been retired from circulation
\a-rcaac °{ njlos convcrlible into gold, hi that the amount of
ArrnrS I 1 *n. circulation doe* not exceed 20,000 yens (51,000 francs),
the 0flu?<-.,aw uP°n coinage, in April. 1900. and March, 1908,
t . x of Hul>81d»ary coins has been modified,
cither orAlnauc® waa Pw»ed prohibiting the importation of silver coin
Sh orer oonnfrn* w from the metropolis, and at the same time to wipprw
UnTo Anrnnm8 ' ** ^ y°Vn for and imports. ™
°,Xchai\^ the ^Iver yen against gold; and from
silveMhnV inav then^remnf <lofi“tlvIol>: prohibited the bank notes convertible into
silver that may then remain in circulation, and replace them bv the silver ven
REPORT DIRECTOR OF MINT.
271
(Translation.]
KOREA.
Monetary Legislation.
(From the Report of the Minister of Finances. Paris, 1907 ]
IMPERIAL ORDINANCE REGULATING THE MONETARY SYSTEM OF KOREA.
(Issued February 12, 1901 .amended January 20, 1905; and put into force June 1, 1905.)
Article 1
Art. 2. .
the name c _
chon, 1 won. . ,,
Art. 3. The denominations of the coins are as follows:
.20 won; 10 won; 5 won.
Gold coins . ..... ..4 won; 20 chon; 10 chon.
Sliver coins . . 5 chon.
Nickel coins . . . 1 chon; J chon.
Bronze coins .
Abt. 4. The diameter, weight, and compcttion of the pi**, are regul»t*d lollop:
Coin* of Unlimited Liberty Power.
GOLD.
Denomination.
Diameter.
tVel
Mom mo.
ght.
Grains.
Composition.
Sun*
a 05
4.4444
16.6666
a 3333
Ifiolil 900; copper 100.
10
.70
j
4. 1666
1
”
—
SILVER.
4 won . .
20 chon. .
10 chon..
1.02
.74
.58
[silver 600; copper 200.
2.0055
nickel.
4. 0654 Copper 760; nickel 250.
BRONZE.
— - - -
0.02
L000h 1
.72
9504
1 5M0 }C°PPcr 9501 t,n ** llDC 10'
a 1 gtlli
A„ ». limit - •'**-"*■ " ^ —
. . 2.21
. . . . . 1.105
For the 20-wou Pjj££ * " . ! ! I . . . 1105
'SSKU”P . ie^eeel^^^^rwrf^^
Bh?U hhSS {2KStSg"Ub«fty P»wer »P «” . . ThWC 'OT‘nge'
coin4 B^n be modified by agreement of the partis.
“^nh^ modified 1
272
REPORT DIRECTOR OF MINT.
Art. 7. The gold coins which shall have fallen below the limit of legal current
weight by consequence of wear; the silver, nickel, and bronze coins which shall have
been used excessively in circulation; or the coins which may have been put in circu¬
lation improperly, shall be exchanged at their nominal value, according to regulations
arranged by the minister of finances.
Art. 8. 1'he coins on which the design is no longer visible, or which shall ha\e been
manufactured by individuals, shall not have lawful currency.
Art. 9. If an individual brings gold bare and requests their’transformation into coins
the Government must accede to their request
Art 10. The silver coins of 1 liang, the nickel coins of one-quarter liang, and the
copper coins of 5 fun. issued up to the present time, shall continue to have lawful
currency as before*
Art 11. Regulations for issuing new gold and silver coins, for exchange of the
odiang and 1-won silver coins, ana of the 5 and 1 fun (gold), issued up to the present
time, as well as the bringing in and coinageof gold, shall he determined by the minister
of finances.
PERSIA
Legation of the United States of America.
Teheran, February it, 1909.
Aug it ers to interrogatories, 1908.
1. Amount of gold coined during 1908: Some gold coins of 2, 1. half, and fifth
tomans were struck, but it is not possible to ascertain the exact number The metal
was probably obtained by melting down English and Turkish coins
2. Amount of silver coined during 1908: About 0,000,000 tomans, but act urate
information is not obtainable. Bullion was used for the most part, and it is said
that old domestic coins were melted and recoined . No foreign coins wen- used No
com w-as minted abroad for this country.
3. No coinage w as executed for other governments during 1908.
Turkish gold roinT W “ lndustrial arts during 1908: Probably English and
5. Weight of fine silver used in industrial arts during 1908. No reply
statistic.** *mP°rt and export of gold and silver during 1908 Impossible to obtain
8 and 9. Import of United States gold coin and United States gold coin deposited
at mint and melted during 1908: Probably none
inoe av1 U Amount of gold and silver produced from mines of the country during
« i i u mVne* ai? w,orkfd hero’ but if Any surface gold was obtained the amount
12 NA“lv*r have been discovered here.
See 10nand*il<)Ut,>Ut °* g° d aUd ,<<llver from refint*ries of the country during 1908:
attWhif'. iA,tpr°Xiin,aie Ptock of *old and silver coin and bullion in the country
1G Jdn year 1908 Impossible to obtain information.
Thp ir n,l A °f government notes outstanding at the end of the year 1908:
there mutX“ l^"%^i^i0LCuU'tOm’’ acce'>tam < s in rK' ""‘
2 =SOOOOn trtm^^OUD4 °f bafk not€* outstanding at the end of the \ear 1908 About
obUiilTle1 Amount not covered by legal-tender silver com or bullion not
obtainable*1 Actua* ‘‘urrency of the country and premium on gold. No information
v° IaWB we5e passed during 1908 affecting the currency
23. No report of the mint is published y
SIAM
American Legation,
Bangkok, A pnl S9, 1909
A turners to interrogatories, 1908.
1. Amount of gold coined during the calendar year 1908 Non*
08,427 25°lieah 478 69Musmc dun?* T^Qe calpndar year 1908 273,709 salungs.
r comage was executed at foreign mints
oin ago executed for other governments Juring 1908 None.
value
recoinage
REPORT DIRECTOR OF MINT. 273
4 and 5. Weight of tine gold and line silver used in indut-trial art* during 1908: No
atistice.
6 and 7. Import and export of gold and silver during the calendar year 1908:
Gold. Silver.
Classification.
— "
Imports, j
Exports.
Imports.
Exports.
TicaliA
Tieali.*
TteaUfi
Tie aU.°
Leaf...
Coin.
.. 5,482,038
27, 192 |
52
5,' 008,005’
762,385
" _ _ _ ! _ l
—
« Tloal at 0 37 sold.
8 and 9. United States gold coin imported or deposited at mint and melted during
,9?0.: Gokf produced from mine, of the country during 1« «* £*>0*™,
11. Silver produced from mines of the country during • * * during 1908:
12 and 13. Output of gold and silver from refineries of the country during iju*.
14. Approximate stock of gold coin of ^lcTcoin^d bullion in
calendar year 1908: No information a'^ilable as approximate value of 274,000
the country. The public treasuries held bullion of the approx unu
ticalson December 31, 1908. Jn country at the eloee of
15 Approximate stock of silver com and hull ion inth O 1(X) ,mK) ,ooo,000
the calendar year 1908: It is estimated tli^ there 1(U6i,i5i ticalsin
ticals’ worth of silver in the country. The public treason
silver coin** on December 31, 1908. , d 0f the calendar year 1908:
16 and 17. Government notes out^Undmg at < h 16,468.875 ticals, and
The amount of notes in circulation on c„aranlee<l by investments,
covered bv 10.676,308 ticals in silver, the balance ^ . ,
the particulars of which are unknown to w. 1908: A,a conclusion of
18 and 19. Bank notes outstanding at theci bLnka have stopped the issue of notes,
armngement made three years ago t ^ a gold basis. Under the now ^ j
20. Actual currency of the ^ “d ailver arc full legal tender,
standard law. iaaued m November, ll». £omnlonced.
■ ***'~**-*r
°f thp No "■port m,nw
issued. _ *rT rc S. 127, 1908.
The Gold Standard Act, ^
Whereas the * tluctuationsinthe P^^^^uJ^King
ei(*^rcd^it^cou^^e’Jcr^ *”tl<^^Ja<r7tIbihtyni^t*heKJ'U^ ’ ]^^dnm the
deemen it expedient, in ora ,(J standard, and was. ^rac vj \,v closing the
silver standar<l of the-coun desired change be ma 8 j out bv mean* of
vear R. S. 121 to command that im whirh command
royal mint to the fr^2iM?iion of the roval mint ^ j0 direct that the
an act repealing a R s. 122. ftis Majesty was I metallic currency of
R^^TfKiar^y*. plcaeed to command that .he g
he enactai. a. follow, r„APTER l^PreWninary „ ^ jt
, . „ . . ulied “the gold standard ac . ' • : ' ' money in
SECTION 1 Tin, law shall be "^enactment, relating to the c. inag
n,in' in 1
1 9711—10 - 18
274
REPORT DIRECTOR OK MINT.
The term ‘ gold bullion” shall mean gold which has not been coined by the Gov¬
ernment as a measure of value.
The term “silver bullion ” shall meau silver which has not been coined by the
Government as a measure of value.
The term “money” shall mean any substance which is regarded as a measure of
value.
The term “coin” shall mean a piece of metal which any government has issued for
use as money.
The term “subsidiary coin” shall mean coin of a value less than 1 tical
The term “remedy” shall mean the variation from the standard fineness or weight
of the coins, as specified in sections 5 and 7 of this act
Sec. 3. The theoretical unit of the Siamese monetary’ system shall be the tical of
55.8 centigrams of pure gold.
The silver tical Containing 13.5 grams of pure silver shall under this act have a
value <*}ual to the aforesaid 55.8 centigrams of pure gold.
The tical shall be divided into 100 satang.
Chapter II.— The com*.
Dos, or 10-tlral piece.
. Tirol, -'-soiling piece; Sailing.
. 10-satang piece, 5-safang piece.
Satang
Sec. 4. The follow ing shall be the coins to be minted under this act
Oolfi .
Silver..
Nickel . . .
Bronze . .
Sec. 5. The standard fineness of the coins shall be as follows:
5^ ZJ10 <V58 8ba^ contain 900 parts of pure gold and 100 parts of copper.
2) The tical shall contain 900 parts of pure silver and 100 jiartR of copper.
3) The subsidiary silver coin shall contain 800 parts of pure silver and 200 parts
of copper.
/c* ml10 I1*0^ °°‘n8 shall be composed of commercially pure nickel.
(5) The bronze satang shall contain 95 parts of commercially pure copper, 1 parts
of tin, and 1 part of zinc. ’ v ^
Sec. (>. The sanctioned remedy in fineness shall not exceed the following limits
Dos. .
Tical .
Subsidiary silver coins
Sec. 7. The standard weight of the coins shall be as follows.
. o.ooij
.003
. 004
Gold:
Dos. ..
Silver:
Tical
2-salung piece.
Soiling . .
Nickel
10-satang piece .........
5-satang piece .
Bronze. . .
Satang . . . . .
SRC 8. The -action*! remedy in weight Khali not eiceed the following limit*
Gold. ^
Do* .
1,000 dos
Silver.
Tical...
Grams.
. 6.20
. 15
. 7.5
.. 3-75
1,000 tleals . .
2-*alung piece .
jUOOO 2-sal ung pieces
1,000 salimcs
Nickel.
10-satang piece... .
5-satang piece
Bronze.
Satang .
centigrams
. . grams.
centigrams
. grams
. centigrams
. . . grams
. centigrams.
. . grams . .
9
12
5
12
55
6
and bear Ruch ah,a11 bo of such sizes, forms, and designs,
command of His Majesty, notify °f finan°°* ’ b>’
Sec 10 CuAPTKR lll —The truing mid circulation o/thtcoi7u.
and willle?,^ |' preXSoAhU th* Goveramf
REPORT DIRECTOR OF MINT.
275
Sec. 1L. Any person may, under this act. tender gold bullion to the ministry of
finance for coinage. The gold so tendered shall be of such quality and fineness and
be tendered in such minimum quantities as may be notified by the minister of finance.
Sec. 12. If the person by whom gold is tendered, as mentioned in section 11, is
■epared to accept in exchange any money which is legal tender under ( hapter I V
tVi« art without snecifvinz any particular denomination, the ministry of finance
Bangkok, greater man me. vaiuu w ^ * frtr'^oid
finance is prohibited from issuing 1-tical pi« ' - ^k»r subsidiary silver coins,
Sec. 15. The exchange of gold <7“B.an,‘ „m la- effected at .he
or of subsidiary silver corns for gold corns and 1 1 The’ minister of finance may
royal treasury in Bangkok in even hundreds of the conditions under
determine and notify the other government oflke* at vvtuen, aim
which the exchanges in question may also be ma<
Chapteb IV. — Legal trader.
Sec. 16. Gold coins and 1-lieal pieces shall be legal tender without limit as lo
“diary silver coins shall be tapd J-d- *° ,h,• 5
nickel and bronze .'iiinsoiily ^ tender except in cases exprowlv prmid
Sec. 17. Foreign coins shall not oe J
for by law or by treaty with a foreign po
Chapter V.— Worn, and deUnoraUd rotns.
Sec. 18 Gold coins and I-tical Piec“Bh*J*!£ ^hpiJ'dS^W-. amlTiinptions shall
for recoinage "hen, through \,(>ioW the following limits—’ th** ** ’ *|J
be effac ed, or their weights duninuh^w^j ^ ^ pn ^<1 m faction ' 7, by^n
amount6 - —
Subsidiary coma shall be wun . „ .f nre8Cnled at anv state
- —
f^cU^dCo°w“ Siting shall be charged in full
lioned in section 18’iS®re budget of the Government .irwi^ than bv reasonable
S3 in charge of any ...» ««— * or by any
not be accepted i or Htaie dues. fnllliiaied coins as described in section
weisht lDd u,u C01M
Chaptee VI. — /Ifsgal lotau.
ofllthe Government.
276
bepobt director of mint.
Whoever acts in contravention vt thin section of the act shall be deemed guilty of
a petty offense, Haas D, under the penal code, but the offense described in this
section shall be without prejudi<-e to any punishment prescribed for the counter¬
feiting of money.
Chapter VII.— Special reservt fund.
Sec. 23. The ministry of finance shall establish a fund for the purpose of main¬
taining the stability of the rate of exchange between Siam and foreign countries.
The fund shall be a separate one, unconnected with other funds in the royal treasury,
and shall be composed of the following resources:
1. Of the sum of 12,000,000 ticals, which, to commence with, shall be transferred
from the treasury reserve or other source allocated by the Government for the purpose.
If the minister of finance deems it expedient, this sum may be increased with the
sanction of His Majesty
2. Of the profit resulting from the coinage operations without any deduction for
expenses.
3. Of any other sources of income or profit which may be held to emanate from the
said fund .
Sec. 24. The expenses and losses arising out of the operations effected in connection
with the purposes for which the fund is created shall be c harged to the said fund, but
all disbursements of the mint, such as salaries of employees, cost of mintage, etc., shall
be charged to the appropriate head in the expenditure budget of the Government, -j
Sec. 25. Any portion of the fund which it may Ik* found necessary to remit and retain
abroad shall be deposited in such banks or invest ed in such foreign government securi¬
ties of first -class standing as the minister of finance may select.
The portion of the fund to be kept in Siam shall consist of gold coins and 1-tical
pieces or of gold and silver bullion intended for mintage.
Silver ticals included in the fund, under this section, shall only be withdrawn in
exchange for gold at the rate prescribed in section 12, or for the purchase of silver
bullion for the minting of coins, or, finally, for the purchase of transiers payable to the
Government in gold abroad.
Sec. 26. The particulars of all receipts and payments arising out of the fund under
the operation of this act shall be incorporated by the comptroller-general of accounts
and audit in a special account in the form prescribed by tne minister of finance.
The comptroller-general of accounts and audit shall make up the account yearly, in
time to be included in the general annual accounts of the Kingdom.
Sec. 27. The minister of finance shall be charged with the execution of this act and
shall be authorized to issue such rules and regulations as may be found necessary for
the purpose of carrying out its provisions. All rules and regulations so issued by the
minister of finance shall be published in the Government Gazette and shall have
effect from the date of such publication.
Proclaimed on the 11th day of November, R. S. 127, being the 14610th day of the
present reign.
Notification Prescribing Sizes, Forms, Designs, and Inscriptions of Goins.
Whereas in section 9 of the gold Stanford act, R. S. 127, it is provided that the coins
minted under that act shall be of such sizes, forms, and designs, and bear such inscrip¬
tions and other particulars as the minister of finances inav, bv command of His
Majesty, notify in the Government Gazette.
N ow, therefore, His Majesty is pleased to command that the coins in question shall
bo in the form of a disk and shall have such diameters and bear such designs and
inscriptions as are mentioned below:
GOLD COIN.
(Dos, or 10-tical piece, diameter 20 millimeters.)
■ — 9b v erae, the likeiiess of His Majesty, with the inscription
^Jadhiraj. Reverse, the figure of the Garuda, bearing a
SILVER coins.
in^rinti.m “■(SCvG <£V“?ei tl?r of HU Majeety the King, with the
P ulalongkom Stamindr Referee, the three-headed elephant, with
REPORT DIRECTOR OF MINT.
277
the inscription ' ‘ Siaina Rath the year of coinage, and the name of each denomination
^Diameters — Tical, 30 millimeters; 2-salung piece, 25 millimeters; sailing, 20 milli¬
meters.
NICKEL AND BRONZE COINS.
Design and inscriptwn* .-Obverse , the "Unalom,” with the words “Siama Rath "
and the value of the coin. Roverec, the Chakra, with the year of coinage j.
Diameters -Ten-satang piece, 20 millimetcre; 5-satang piece, 17.5 millimetcre, 1
“SThT^irS0;^,iorcod w,th ho1? in
piece. 5 millimetcre; 5-satang piece, 4 millimetere; I-eataM piece, 6 mimmcie
Proclaimed on the 11th day of November. R. S. 1-/0^ Kitivakara,
V % Minister of Finance.
Nonr.cAT.os Suspesd.so The Opeeaitoh or Ceeta.w Sect, one or the Gold-
Standard a\ct, R. S. 12/.
The minister of finance is commanded by His ^l^f^tums'ofThe gold-standard
is inexpedient to bring into immediate operation < : . , thprebv j)e caused to the
act, R S 127, hv reason of the inconvenience wh thS their operation be
inhabitants of the realm, His Majesty is ptaMjdto direct that I
temporarilv suspended in the manner set forth 1)0 0 „ it is provided that the
I .Whereas in section 9 of the gold-standard act R Jv b (.iolw and other
coins shall he of such sizes, forms. and designs a command of His Majesty, and
jiarticulare as the minister of finance may • (|14. tIrait the salung, the fuang,
whereas the existing coins of all denommati s. .'() iO-«atang, Vsatang. and 2£-
the bronze sik, sio, att, and solot aud theni ^ correspond with those notified
satang pieces are coins of which the part*™ ' , ^ inexp©dieut to entirely demonetize
under tlie present act, but nevertheless it w
them all at the present time command as followp: .
Now. therefore. His Majesty is V)0**** ™™*™* {tt shall continue in general
1. The tical and the salung, minted under mmi
use, as heretofore .. : att and solot shall continue m use fo
2. The fuang and the bronze « he public for the new coins i-ued
exchan^o for .ho old .He. unOl -uch ..mo - _ „ niww men.
ixchango for the old ones ™ m piece* men-
*Tho exchange of thefuangs. thc old ^n^t7CfoSowing J^Tew S£5
^ rih^? O. fi^co may d««-
Bangkok and at such other g . f « g 127, it is provided
Whereas in “ ^VbuUion "l^^ld^ ‘cShl* e^hT^’ or if
1 1 \\ hereus in sections ^ • ,d buUion to the mm*y ™ ^ jn change, 01
that any person Ml .f demanded. pa> h go^ mider Chapter I\ of the
ru^rrnd^e.in any monej " >2nt being 2.680 ticale for every 100
11 and 12 of
And whereas «t 1* ^bv commanded »‘>‘^'na^)erldo(1, a„d that for the pros-
Now, therefore, -hall be tomporan1^® , heretofore, and
the said act. shall continue tore** ^ 2’,662 thwls for every
ent the ministry^ ®k j j currency ‘® ex^ange^ ]3 |icalg for £l sterling,
shall issue m gjWg) gram.-) of pure act R S 127, it is provided that
— ■*«> .»■ »»• «...
.hall Sl-ivin* ... *SSS£bl* number* of ben. «alunp
^^^^here^ would — “
^«-ar
the •
278
REPORT DIRECTOR OF MINT.
Now, therefore, it is hereby commanded by bin majesty that all •'late treasuries and
ull officials receiving or collecting state dues shall, for a period of one year from the
date of this proclamation, be authorized to accept, at their full nominal Value, all bent
salungs and fuang* which may be tendered to them in payment or in exchange
Proclaimed on the 11th day of November. R S 127 (IMS'
(Signed.) Kitiyakara,
Min liter of Finnnrt.
STRAITS SETTLEMENTS.
American Consular Seruce.
Singapore, April 19, 1909.
Ansurrs to mUrrogalor'u a, 190ft
1 No gold coined during the year 190*
2 Total amount of silver coined during the year 1908, $0,929,500 (Strait* currency)
as follows: In dollars, $3,930,000 in 50-ccnt piecw, $2,999,500 All recoinage, and
coined at the English mint, I/ondon
:t Coinage executed for other governments: No mint in the Strait* Settlements
4 and •> Gold and silver used in industrial art* during 1908. No information avail¬
able, statistics do not show
6. There was imported Gold bullion to the amount of $8,697,159, gold coin to the
amount of $2,127,274 Export* Gold bullion to the amount of $2,450,924, gold coin
to the amount of $2,721,959 Weight of bullion not obtainable A large amount of
the gold given a* bullion w jw gold leaf, and the majority of it wa* imported (nun Hong¬
kong und India
7 There was imported Silver bullion to the amount of $10,415; silver coin to the
amount of $14,859,200 Export*: Silver coin to the amount of $7, 150.920 No silver
bullion exported The iini>orts and export* in silver coin were largely in connection
with the recomage That for trade purjxtse* between the following countries India,
12 and 13. No refineries in the colony.
iJt.„APpn,Xi??aU“ of ,n the country at the close of the calendar year 1 908
i.4,740 in public treasuries Amount in banks unknown, and practically none m
circulation.
country on Decetn-
in hanks, $2,148,652.
the end of the year 1908
or silver coin or bullion,
°UiWtLri <|,ra( ,iral,-v aJ1 in the
l»cr 31, l.X)S, was $37.4S,>..>. 1, in public treasuries, $21 074 021 ir
in circulation, $14,202,898 . u
,muuul government notes outstanding at
tt0720mou ASS“t not fV'wwd by ^tender gold
ic i 1 Tt a,UUUDl ,!< covered by securith*.
Coven*!! hv diSi m Uk ?°t<1 ouL"tandl,u^ 01 the end of the year 1908, $999,255
( over.^ by dj^omt of gold in London equivalent to the amount of note issue.
%G7rZZm Ut H^hfch'h^^Jiblin i^iLuin^
th- «',p'
23 Report on operation* of mint No mint iu the cojony
AFRICA.
(Tnuuiaiion j
Rritikh West Vmuca
MONKTAHY tlll'LOVMfcST AND TRANSACTIONS l\ OAMB1A
tFrom L Economists EuropaVn, l**rt«, s iuw )
A report irom the consular agent of France ut Sainte-Marie-de-Hathursi
in the Momteur Official du Commerce, contuins some interesting information uis.n the
monetary employment and transactions in Itrilish Gambia *
REPORT DIRECTOR OF MINT.
279
ho^rnot'tu01 th.:
at the parity of -ts.. and by public cash offices at that pant) lees an exchange pe
C<That admission of the French 6,;n into the
They permit the coming of the French native® of “ten f ^ver ami yjter-
planting upon English territory. that wU> »y; in th whicb they* have need
wards selling the crop there in exchange for rrcnc . , enjonai expenses,
in their country of origin to pay for their “ - ]^e ^ <;ambia < >nlv one
The English gold and fiduciary money does Hallk of British
establishment . .f credit exist* in the country. • ] Th frjiitio* which that
West Africa (Limited), of wh.rh the -eat is in bn erpoo!^ Itieaa urchaflWJ of
bank accords to the merchants of Bathurst jtr . (j10 British West Africa
crons without accenting moneys from Europe® •> ^ tr*nr* in English
factional coin . The ’bank operate -lit*
sive credit* against remittance of contracts by the mother houees.
renewable in proportion to the PJJ™ w7 They do not receive, except without
The conditions of contract are aa lolio® ’ ■ ] .,n<h,n in sterling,
interest, paper at three days’ sight and pa\ customer demands of the
They pre'vioudy deduct a common uf 1 per ^d.itiu Eitfi* money,
trader payment in French ^yus, and of 11 - 1 trader the exchange on Inndon
To those expenses there are to upwn mother
necessitated by the payment in rterJI®* ,inf| 2S.25I and contingently, ^accord-
houses (course of exchange v-ar\ lug b«tw ’^Uh lhejr financial correspondent® , a
ing to the conditions which bind Amler bv wuy of compensation profits by
commission of one-eighth percent. The dealer b> Jg Bank of British
the interest on the silver utilised j£riod which may extend
West Africa up to the time of payment for their xp< n.
from fifteen to twenty-eight days. , G bia is about 1$ per cent when tl &e >
In short, the cash cost they employ the English fractional
employ the French fyu. and about _ p*
monoy boypt.
A n.wrv AND CONSfLATK-GESKRAL.
American- DirLOMATic Aoencv anb ao
Aluwen to inurrogatonn, I 'MS.
, i ions There were minted. however,
tknnoundi), 5.000 piecwol louritl p
* -tSSA «Wi. or veluc et the -Ivor or
Clwslftratlon and country.
lmj»ortcd.
ExporU*d
Imported.
Exported.
ajCF
.. 1 , 887, W
«a, avj
7<M. av.
717,236
isa.asi
32. 44t.
o£E. 1
3.136,11*
72,200
421.018
1,017. 44s
4, 044
8,775
•JtB.
• IF.
UK
Ins: . . • •
Turkoy -
Franco. • •
2i. 217
240
5, -VO
. 36
72b
123
224
43
Italy
10,274
l.Mtt
1.872
i’iro
Otlmr countries -
... 4.171, 175
IdC. 022
it, 90S
4 3,584
- .. r P - (Key pi Ian pound) equal* « Tnltsd States Rold.
I **portiv<l VTOA foreign monoy
280
REPORT DIRECTOR OF MINT.
CloMifloatiuo and oouuiry.
Imported Exported
Wright Value Weight. Value.
Qokl Ingot), Turkey. .
silver Inzois
England
Austria .
France....
Turkey. .
Kilogram*.
0 52UG1
33, OW OUUUU
331 U«WI
4, 101.000UO
29 00000
• £E
7,047
Kilogram*
0.27119
• £E.
89.52.:
1 570
13,538
9*
Total .
27,529.0(1000 104.737 <4.00000
175
58
• “ £E." (Egyptian pound) equals 15 United Btat« gold
8 and 9. United States gold coin imported or melted during 1908 None
10, 11, 12, and 13. Output of gold aud silver from mines of the country and refincnee
during 1908: None. .
14. Approximate stock of gold, coin and bullion, in the country’ at the close of the
calendar year 1908 Cold coins in government depositories at the end of 1908 amounted
to about £ E. 194,816. The stock in banka or in circulation ia unknown
15. Approximate stock of ailver, coin aud bullion, in the country at the close of the
calendar year 1908 Total of silver coin in gr *vemment depositories fin Egy pt and the
Sudan) at the end of 1908 was £ E. 656,620; in hands of the public, £ E. 2,555,723;
total calculation, therefore, £ E. 3,212,343.
16 and 17. No issue of notea has ever been made by the government of Egypt.
18 and 19. Amount of bank note* outstanding at the end of the calendarveor 1908:
The National Bank of Egypt ia the only institution issuing bank note*. The total of
these in circulation at the end of 1908 was £ E. 1,824,456. Amount of bunk note* not
covered by legal tender gold and ailver coin and bullion, £ E. 558,519.
20. Actual currency of the country. Gold, silver, nickel, and bank notes of the
National Bank of Egy pt referred to above
21. Gold coins arc never at a premium.
22. I>aw8 passed during 1908 affecting the currency: None
23. Report published on operations of mint: None.
The Egyptian Curhe.vct.
By W. H. Cook.
[From Tb* Bankers’ Magazine, London, February. 1V0S j
*******
In 1834 Mehcinet Ali inaugurated the system of currency which, with slight modi¬
fications, exists at present.
When the Arabs made their great conquests inouev became a necessity for their
trading, and a new currency was introduced and carried on by their Moslem inheritors.
They adopted imitations of the Byzantine gold coins, while’ their silver money was a
copy of the Persian currency. The gold dinars were called heracla, after lleraclius,
and' had been in use in Uonstantinople during his reign from 610 to 641 (this dinar
weighed 66 grains and a fraction » The < opts, the descendants of the primitive stock
of Egyptians, were, on the fall of Babylon, mulcted in a poll tax of two golden dinars
on everv adult male.
Two kinds of token coins were introduced, a black and a white dirhem, but these
had no legal standing aud were not extensively used until five centuries later. The
dirhem of silver, a revival of the Greek drachm, weighed at most 45 grains. The
copper piece was the fels, taking its name from the “pholliB” of the Greek Empire.
The first, monetary' reform known took place m 696, when El Hedjaj, governor of
Irak, struck some dirhems in a specially constructed mint Thi- work was super¬
vised by a Jew uained .Soinair, who gave the name of *omairi* to the coins.
For the fin-t five centuries of their issue all the coius are remarkable for being uni¬
form in fabric and general appearance, but the striking of dirhems of silver ceased in
1384. when the governors and other officials discovered that copper coins gay'e them
considerably greater profits than wars yielded by the minting ot silver inoucy This
debased copper currency drove the geuuine coins out of the country'. The jewelers
eagerly bought up all the silver (Mins for melting purposes to such an extent that they
REPORT DIRECTOR OF MINT.
281
ceased to circulate. The gold coiua shortly followed in this general confusion, and
within a few years also became very rare. The natural result was J^at in the year
13DH owing to the want of a good currency, the general misery of the countr> was
urn J by the Cation of all tmdc. The only relief which the authontle. were
able to Kivey waa minting copper coins of heavier weight than the old denomination,
which did not in any wav au'ord the benefit of a standard mono} .
The influence of the commercial states of Italy had u^fiie sultans
1200 when for want of a good exchangeable currency, the later Mameluke sultans
iu“’orTr^he u^of the mdd florins which had first been minted ■"
The ducata and sequins of Venice also found them way in o the Modem «*»££££
CTul
of exchange when their currency had become so debased as to be useless in co
mcrcial transactions. . , t » ti l>€ the trade of
After the discovery of the route to India b y t h I jt.ft t0 their own
Egypt and the Mediterranean in genoral .r0u ,«ame into their
devices the rulers of Egypt continued "J'“‘',^,nheir own sumucy,
country, and made no attempt to remedy the ba Spaniards brought about a
The discovery of the silver mines of America1 bythe^^B^ many of the
much needed revolution in the currencies t ^ ^ ^ pt The ghourouch or
newly minted silver coins of Europe Jollu* / : 1515-15^0 as a means of ex-
groat' and the thalers of the German states XjjJ, which, a century or two later,
change, and only gave way in favor to the 1 ‘Utah thaler, wnic
actually became legal tender in Egypt , *\lidus or German shilling, the mark,
The smaller silver coin. of Europe, such £ ao^unt of their small ..re
and othere never found their way east in any quantity
and value. . . , . boen introduced into Eg>*pt as a necessity
undm-went^that'Mmo depreciation'^and^ebssoment which they were suflenoe ^
W The Spanish dollar, the famous piece j’J^^jtixtelmth a'nd^eventeenth cen-
prominent part in the traded the «"r‘V„S. where if was known as the “pu*W
turies. was mirotluced into the i trading with Europe. rl^n,a“r^f1fht
a race value oi aoouv . , , inconvenience 01
consisted of money, and nitundlv anxious, as the« coin. oun«
*nd notexpi.rt them.^ — ‘y SESB, dg
h^paymentT^c'goodsJwbile ^eJUght^onea^^tijJ^^^Jj^j^j^h^i^was
reducing the weight of thi * uy jn the country than the * bv the Sultan <>r
tear
At the beginning of tho c boarinl, „n the obvewe tne can ^ contun«
“colonntos,” ** throughout the Modilenane^ an tl This n. markable
CpScuS S -litre were still -f the worth-
SSS . ,.oppt, m which hwdh ^ ure-^isusin^
It was repscedh^"; m fmnr, in Inns call) ^ ^ th<_
^5 £*32rSt^
although u 1
2g2 REPORT DIRECTOR OF MINT.
„ the model for the piueter of Turkey, with a face value of 4*. Id In 1744 the value
W Tviln/the value of the eoin W» M «°£ ^'^3
the Protit I "98* the prcfit"™ 40 The weight of the medin in 1730 was offi-
?UUy (riven «• If 3t)0 (tram, but in ITyS the weight waa only 0.250 gram, and the value
^■Fhe number kI .eh dollar, in the country wa. rapidly decreaaing and a
freeh eilver coin had to be procured The Maria Them* dollar. brat mmted in 1742
of lo«cr value than the Spanish eoin. was eagerly imported. This coin in 17<4 ™uld
■ Vvm.rrht ,r on merlins but in 1798 the value was 150 medins. The actual value of
the dollar had not altered, but the value of the medin had depreciated bv 40 per cent.
When Bonaparte arrived he found the trade of the country canned on bv means
of foreign countries, while the natives had lost all knowledge of the ^ue of coins^
The French soldiers, in purchasing from the natives, offered in payment the bra*v
buttons of their uniforms, which were gladly received.
Ansisted bv a staff of professors, Bonanarte early decided upon reforimn thL raont-
tarv system ‘of the country and copied the European groschen , under the ^ name of
ghourouch. and. in order to utilize the small coins in use. decided that jnediM
should form 1 piaster Owing to the large number of foreign silver pieces which
were in circulation, he published a tariff, as follows:
Minlins. Francs.
Gold coins: •> 352 - 82. 81
Quadruple of Spain . "‘g72 - 23.00
French Louis . - nn _ 1 1 u?
Sequin of Venice
Silver coins: 16S — 5.91
Ecu deOUvrw, Franre . 140-4 92
Ecu do Rome . . ■■■■ — •> 35
Ecu d* Mali* . l-m -
Moris Theresa dollar 1 -
As this •tariff’' is the first authentic valuation of the various foreign coins which
circulated in Egypt, the term “Piasters au tariff "and its present-day abbreviation
“P. T." owe* its origin to this first quotation list.
It would seem to be the fate of the dominant coin* of Europe to find, when dis¬
carded or superseded at home, a last resting place among oriental people.
Whatever mav have been the good intentions of Bonaparte for reforming the Egyp¬
tian currency, they were not carried into effect beyond framing the above tariff, and.
alter the* departure of the French troops and the subsequent evacuation of the coun¬
try by the English, the former state of chaos reappeared. The old system was re¬
verted to. and, to complicate matters, the revolutionary wars in Europe prevented
the importation of silver coins for trading purp******, and the difficulties of the country
soon became acute.
Egypt was governed thereafter under the Turks upon a system of getting the maxi¬
mum of revenue from a peasant rv which was allowed the minimum of sustenance.
No one prospered but the tax collectors. For a time the peasantry obtained some
consolation from the depreciated currency, inasmuch as the tribute of Turkey vrw
ordered to be ]>aid in piasters. But when the governors realized that the very coins
which they hud so debased did not yield the full value of the tribute, they increased
taxes in all directions. This form of government went on until 1834, when Mehemet
Ali became the undisputed master of Egypt. In that year a tariff for the exchange
of foreign coins was issued, but only dealt with the three principal coins
The sovereign which had recently been in use was given its present value of F. T.
974; the 20-franc piece, P. T. 77 A; the colonnate (or colonato), the old Spanish
dollar, P. T. 20fJ On April'16, 1836, to this tariff was added
F. T.
Thu Venetian »equ\i] ..... ... 4(113
German thaler ... . *100
Datah&HNt .. . 45.26
whilst five yeora later the 5-franc piece was added with a quotation of P. T. 19.10.
The tariffs, however, did not slop the debasement of the Egyptian currency, neither
was any attempt made for checking the evil . The old Turkish coins called ‘ * bechlika.’1
valued at o piasters, passed for only half their value. Most of these coins, if not all,
differed much in purity as well as weight. Another money tailed “corrente” was
principally used for inland transactions; it was a deteriorated currency of the tariff
piaster, and stood at a considerable discount. The accounts were kept in piasters of
40 medini, each medino being subdivided into 8 borbi or 6 forli or 3 aspres. Besides
these, there existed the ducatells reckoned at 10 inedini, the griscis or abuquelp at
30 medim and the zenzerli. which was valued at 107 medini. Further, a purse
contained 25,000 medini or 75,000 aspres, about £5.
REPOUT DIRECTOR OF MINT.
28a
108. o
K* 00
22.33
21 3A
21.10
This absurd currency was remodeled by biu^/ho of1
£££ a^'CneyToTlo^'SKio., It farther r«„,W the* .««*» «*» U>
be deli vert»d to the treasury at the following rates. p T<
Pound slitrllnK .
20-trenr plecv
A sound Spanish dollar
A Maria Theresa dollar . .
« «****» JW th.
for these foreign coins with a view to a t M ^ tho commercial requirements of
actually minted by the f^v*™™™\^er£6Jo?j4 worth was minted at Dairo and
Egypt. During the period ^ * i^S&fw) ^rth of silver coins minted during
£457.373 in Pans .making [about £1,000^00^.^ ^ Jhan 6 goo ooo souls
fiftv-three years, which had to satisfy a i l foroign silver coins were every year
In spite of the prohibition lanre , twenty of the latter part of tho
imported into Egypt, whilst owing to R ^ | f.()ilnH were in constant use^
nineteenth century considerable a commission to inquire into the
In 1884 the British admimstraUon *PI>™P inquin- which was conducted m a
defects of the currency, and remodel _it Thu „f an insufficient currency.
defects of the currency and ™™fel „"0™i£^ofan insufficient currency,
most careful way. brought to light many of ^(loM which most injunoudy affects
The chief complaint was the want of aim a < onmn collected silver coins
the i»oorest classes Keen Israelites dung the summer ^ p ,f ^ ^ “Panda
paving for them P. T 8.40 to P . '*», ■, retailing them at fuli value during th
(owing to their having been minted though these very coins were onh
cotton season when silver coins were in demand.
officially tariffed at P,T 8.75 fictitious value of P-T. W tnatoad of
The English sovereign in A'cxandna hi 1 th ^ full valu0 „f the Egyptisn pound
rjp?LUr"Ue S:S»ed in value with the par,.! dollar^ * *
£. E 360.000 of silver coins at the banks, ^ ..her coins
irK io nm-r . . •
of media oi cin u 1UL‘U1* \ Tv^-ntian government its prerogative
(4, 5. 10. 20); abundance of mMt inconvenient
:;:iu;o( 2ia . r.,r..,ca a voev n.^i
unU^iv^gun^
the inconvemencein q ^ nl>COJBary f°r reducingth NUUJ infinitesimal and a
ZVth^nnSl nri.v^,Mlh4- e coin, and aon.d have -n, dieted
irS
There remainc Y9 ^ coin thus named wa The next coin was minted at
i* the EgyP^jt^^na) equivalent to 8 1^ November, 1854 The latest
-It.4, kirats ( • grams, and was not weighed 8 J grams, and was coined
43li kirats. or 8 4-H g . k on Janu^ Sl lS^e^ ^^.^ at 3 -3,36,.
Egy ptiun ^“nently contained 7 t4.3 ' r>4?T^"i« i valontto 98.45 piasters. The
atO S75 fine, and con *q ^ 3, making c U e TU ^ monetary system and
por gram. to a<b»pt thtsctnnas th n,t k } hams u gold standard was
sufficient for thCn« }md becn in use for many ^ mon(.larv system was nol a
n{ ,hr Egyptmn ^und iw the bw*^ ^ J0 ,he gold coins
284
REPORT DIRECTOR OF MINT.
the same article a** 5 piaster* in small dealings, and the franc had a purchasing valuo
of 4 piasters. ,
The commission, in adopting the Egyptian pound, decided, in view of the standard
not being a pure one, not to mint gold coins, but to make legal tender those gold coins
which had necome familiar It was necessary to give them a fixed tariff in order to
insure the public against any loss, and the following values were adopted:
Pluters.
. .. 97.50
£1 strrllnc. .
30-franc piece -
Turkish pound . .
On examining this present tariff value of the coins against their mint value, it is
noticed that the differentiation against the sovereign is less than 1 percent, the differ¬
entiation of the other two being greater. Since these coins are all legal tender, and
the legal tariff rates discriminate in favor of our sovereign, it follows that the gold
currency of Egypt consists almost exclusively of British sovereigns.
To show how favorably the British sovereign compares with the 20-frauc piece
under the Egyptian legal tariff, the value of the 60\ereign in Paris has liret to be
ascertained The French mint par value of the pound sterling is 25.2214 francs, hut
the legal tariff in Egypt is 25.2754 francs Hence, a person desiring to purchase a
sovereign could only purchase it in Egypt at a premium of 0 054 franc.
No correct explanation cun be given for the difference in the tariffs of the three
legal gold coins, and especially for the favor shown to the sovereigns. There were,
however, many points m favor of making it relatively cheaper than the others, the
foremost one being its very extensive use in Egypt at the time of the revision, the
natives having become so accustomed to the old quotation of P. T. 97$ as to make
any alteration u serious hindrance to commerce. French coins had at different times
been introduced in large numbers, but their unpopularity with the natives had
resulted in their reshipment to France. On the other hand, the French coins could
be brought from Marseille at half the cost of shipment and in half the time in com-
pari- n w h hipment of coin fr ii London but wl 1st gold is obtainable from the
Bank of England at uny time in any quantities, the export of gold from the Bank of
France is hindered by numberless state restrictions The sovereign might very
well have been accepted as the gold standard, but. the commission feared to wound
national susceptibilities by putting an end to a system which, however imperfect,
had already existed more tnan fifty years.
Having settled upon the unit, the commission divided the Egyptian pound into 100
piasters and the piaster into 10 |>anis.
A considerable time w'as devoted to the silver currency, and it was decided to
abolish the old coins and have a completely fresh issue The silver coins were to be
in denominations of 20, 10, 5, 2, 1, half, quarter piasters; the nickel pieces of 5, 2, and
1 ochr el guerehe; and bronze pieces ol half ami quarter ochr el guerehe. A fresh
design was approved and the minting intrusted to the Berlin mint. (.Some gold
pieces of 20, 10. and 5 piasters were struck; they were not intended for general circula¬
tion, but simply for gifts and ornaments, like the English maundy money.) In order
to prevent any depreciation of this issue, it was decreed that the total issue of silver
coins should not exceed 40 piasters per head of population, whilst the nickel and
bronze coins were limited to 8 piasters. The provision of this limit at the time of
the commission would have given an average of about 10s per head of population,
viz, 8s. 4d. in silver, Is. 8d. in nickel These sums appear moderate compared with
the average of other States, more particularly in view of the partiality of oriental
people for silver coins.
The government decreed that all foreign silver coins should cease to be accepted,
and actually offered some small pnmiium for a while to induce natives to cxchango
their foreign silver for the new coins. In a very short time foreign silver gave way
to the new* currency and the control which had been for so many centuries m the
hands of all the nations of Europe was restored to the Egv ptian government.
Although the monetary' reform of 1885 prohibited the eirmla.tinn of fnn.ion «lvor
REPORT DIRECTOR OF MINT.
285
u very low dress an<l a profusion of bust, is, I believe, the charm Lhat suits the Arab
taste. So particular are these people that they reject the coin, after careful examina¬
tion, unless they can distinctly count seven dots that form the star upon the coronet.
No clean money will pass current in this country: all coins must be dirty and gummy,
otherwise they are rejected.”
During the j>eriod, 1858 to 1891, over 41.000,000 of these dollars ha\c been minted,
and since they have no currency value in Egypt except in the regions mentioned,
it is presumed that large quantities must have found their way to the most remote
trading centers of central Africa. Previous to the introduction of this dollar, salt was
the unit of exchange, and was used in this capacity up to quite recent times, in spite
of the circulation of the silver coins.
The Maria Theresa dollar, known on the East Coast of Africa as ‘“Januari*-, " was
first coined in 1780, and has for over a century ceased to circulate in Austria When
there is a demand for these coins, they an* procured from Vienna, where they are
struck, the mint charging 3 kronen for coining 1 kilo of silver; each dollar contains
23 .389 grains of pure silver. When the Egyptian government require these coins they
invite bankers to tender, the pace having to include all costs of shipment, insurance,
etc According to the price of silver, the quotations vary, the price being about
2s. id. per dollar.
Of recent years an Abyssinian silver coin, known as the “ Menelik dollar, has been
introduced In Abywinia, but has not met with much favor, the natives preferring
the old Austrian coin for the general purposes of trade with Egypt and the intenor.
In the remote stations of the Soudan the lonely British officer, the emblem of secur¬
ity, has frequently a most difficult task in the settlement of exchanges. Coins are
seldom seen, and lie has to regulate the currency value of beads and wiro. whilst for
more complicated bargains, quite substantial disks of sundry metals of all shapes and
weight have to be submitted to his final arbitration This peculiar rating of exchange
must cause considerable anxiety to the banking authority when he hnds eiU er tno
much wire in circulation or an attempt to make a corner in beads, and he must r>e
view of the distrust of the native population and the oriental greed for gold, it may ne
safely surmised that notes w ill never be popular »n Egypt
In conclusion, the remark of \ iscount M intcrnl
applied to the Egyptian currency. _Rei in the soil.” The' very unit
thing that no change can exorcise. 1 arod seem 1 ~o ^ amJ hafl ceMed Uj circulate,
of the monetary system is a gold 7 JuP increasing the complexities of a
A foreign gold coin circuit*-’ StoSTpoSnd.. Two o«hor gold
banker who low to bo £Ll The ol foreign silver ia forbidden,
^rG^melVU ETv.M™ to. digued and antique*! co.n for certern
regions. ,, • Ktll. h« ascribed to the policy of the British occu-
The prosperity of got Lvc been achieved without the revision of the
pation, but that Pro?P‘.flt^,^t_ri,li nrosneritv of Egypt now rests on a basis of some-
monetary system. , Primer ? report, 1906), it is in no small measure duo to
what exceptional wtoMy (' brought ab<5ut hv sound British principles, and last, but
£• SCA5e SSSlSWS ?hc native, in Ute »und Bntud, aoveretgn.
I m porta tion ano Exportation OP Coin .n Eovpt prom 1879-1908, iNcnoetvE.
[From Bulletin de SUtirtique. Paris, August, 1MB.] _
Imports. Exports.
Imports. Exports.
1879-1883 (average)
1884. .
1890
1891
1892
1893
1894
1895
189S
1897
2,&i4>l 1.523.950
3,829,393 2,048,474
2,948,674 3,517,152
1 995,670 '
; 4,319,205
3, 720,425
2,921.722
2) 309* 479 I 1908. -
1904.
1905,
1909.
1907..
286
REPORT DIRECTOR OF MINT.
The Fiduciary Money.
Bank notes have existed since 1898. That is the year the National Itank of Egypt
was established and upon which was conferred by a khedivial decree the ‘‘privilege
of issuing notes to bearer payable at sight under tne conditions stipulated in the stat¬
utes,” and the said privilege was “not to be accorded to any other establishment
during the continuation of that association.”
The privilege of the national bank consisted simply as follows- An Egyptian stock
association can not exist except by virtue of a khedivial decree which approves its
statutes and authorizes its establishment Now, upon the terms of the decree by
which the constitution of a stock association is authorized designed for the organiza¬
tion of a bank called “national, ’ the Egyptian Government is prohibited from author¬
izing the constitution of any other association of that nature of which the statute pre¬
sages the issue of bank notes. But an Egyptian association previously organized,
likewise a foreign association, could, as we believe, lawfully issue without restriction
notes to the bearer which represent all the characteristics of real bank notes. We
hasten to add that the monopoly of the national bank has never been threatened, per¬
haps because the bank notes of that institution have not legal currency; they are
accepted with difficulty by the public at large, although they w-ould be received by
the public cash offices at their nominal value, i By the terms of the circulars from the
ministry of finances, which have accompanied the invoices to the accountants and
cashiers of the Government, the specimens of new' notes are issued. These notes are
to be of 50, 100, 500, 1,000, 5,000, aud 10,000 tariff piasters. > Their reimbursement is
ossured by guaranties as strong as possible, resulting, upon one-hand, in the organization
of the bank and the control to which it is subject, and. upon the other hand, in a reserve
equal to their nominal value
By the terms of article 5 of the statutes “the service of issuing the bank notes con¬
stitutes a separate service and is absolutely independent of the general transactions of
the bank. They will be held to a distinct accountability and a special reserve for all
the operations of the issue or retirement of the bank notes. The amount of the notes
to bearer at sight in circulation must always be represented First, by one-half or
less of their amount in gold; second, for the other half by fiduciary securities, calcu¬
lated at par. properly pertaining to the bank, and of which the choice and designation
belongs by right solely to the Government without the exercise of the right that inay in
any case and at any time be made to incur to the latter any responsibility whatsoever.
In default of all or a |>ortion of those fiduciary securities, the reserves in gold or the
snecial funds for the service of the issue of the bank notes roust be raised proiwrt ion-
ally, in such manner that the amount of the notes in circulation may always be fully
represented. The reserve exacted by this article that in gold or in securities consti¬
tutes the special guaranty to the bearers of the bank notes and, in case of the liquida¬
tion of the National Bnnk of Egypt, the said reserve must serve exclusively to insure
Ihe retirement of the notes .”
In 1899, the year following the establishment of the bank, the amount of bank notes
in circulation wras an average of 59.998 Egyptian pounds; the following year (1890)
that amount decreased to 53,374. Their immediate recovery and not ceasing to in¬
crease is shown by the following table:
1W0 .
1900....
1901 .
1902 .
Egyptian
pounds.
50.998
. 53.374
1901 .
1906
pounds.
454.SW
913.210
73,023
19U, .
2.280.126
Mji .
1907 . .
Average Circulation of Bank Notes in Egypt.
v
In banks.
In circuit- v
Hon. Yettr-
In banks.
In circula¬
tion.
m . TO
woo.... ’!•*£
£. E.
50.998 1904 .
I. E.
145.035
300.211
391,948
438. 601
£. E. ,
454.067
911.1#
1,866.700
2,283,543
1901 . I}-*®
1902 . "I’4**
53,441 1905 .
72,878 1906 . .
1903 . 42,288
WU3 . 00,789
115.909 1907 .
217,449
REPORT DIRECTOR OF MINT.
287
LIBERIA.
American Legation,
Monrovia, March 15, 1909.
Sir: I have the honor to transmit to you. as instructed by the Honorable Secretary of
State, January 21 last, information on the subject of ‘Production, coinape. and indus¬
trial consumption of cold and silver in foreign countries,” and in relation to which I beg
to Bay that the Republic of Liberia does not maintain a mint for coinage purposes. In
the monthly statements of ‘‘Value of foreign coins” she is erroneously represented as
having a gold standard . She has a silver specie of her own in denominations of 10, 25,
and 50 cents. These were coined in England and represent an amount of $20,000
The coin is very much depreciated .
By an arrangement growing out of the loan of 1900, English gold and silver became
the principal standard of the country, since customs duties must be paid in these.
The questions, therefore, contained in the circular of the Treasury Department of
January 20, 1909, do not cover any part of my consular district .
I have the honor to be, sir, your obedient servant,
Ernest Lyon,
Minister Resident.
The Director of the Mint.
Washington
MADAGASCAR.
American Consular Service,
Tamntave, May 26, 1909.
Ansurrs to interrogatories, 19tM.
1, 2, and 3. There was no gold or silver coined in the French colony of Madagascar
during the calendar vear 1903. , , . . . . . *
4 and 5. There were 14.18726 kilograms (31 J pounds) of fine gol^i^ m .ndusmM
arts in Madagascar during the calendar year 1908; 12.84526 kdogran ( i I
was of new gold, and 1 .34218 kilograms (2 A, pounds) was of old g<; ’'d *"^-,?,K)Srhe
was no silver used in industrial arts in Madagascar during he
6. There are no available statistics showing the importation of gold »nto Madng^iu-
during the calendar year 1908. The gold export (raw go d. dwt 7^siS^£nai
amounted to 3,112.62 kilograms (6,847.78 pounds), valued at 8,71o,3o8 trancs
($1,682,064). . .. - -
7. he re we uoavailable figures as to the amount of “^er imgwtjd
during the calendar year 1908. There was no production or exi>ort ol smer uun g
. 8 and 9. While there are no available statistiwasto^^
£3 in Madagascar There is no mint in
Madagascar. , nrodueed from tlie mines of
10 and 11. There were 3,149 334088 kilograms of F 002.26 francs ($1,823,464.44).
Madagascar during the cale ndar year 1908, ^ g ^ W67dj
The above figures are official an*l the value of t P ()f Madagascar during
the gram, while the uniform value of gold extracted to® the 1907i at ego
the year 1908 was fixed by a governor-general *<
francs ($0.54) the gram. . , ,innondencies of Madagascar during that
yJrher™^ and dcpen5knri“ ,nng
^l^and lJ^There arc no gold or silver ^SJJJ^a^aTt^close of the calendar
14. The approximate stock of gold cmn in JUd^MW » |hc colonyi 77>260 francs
year 1908 wis 127,260 ^nea (g4,561.18L m the none. There was no gold
($14,911.18): in banks, 50,000 francs ($9,650). in urcuiai ,
bullion in the colony at that time • - *
jjj Tl. « » fa nf ml Vt
frauc«(i3"951, 320.05) ; in thobink* W0M» ^n'in crf«y <
4,000,000 francs ($772,000). There was no si lonv 0{ Madagascar.
16 and 17. There are no notes issued by llil. ^ ^,ur that issue notes of any kind.
18 and 19. There are no banks operating in .la ‘JF h gold-standard currency'
20, 21, and 22. Madagascar has no currency of H* own, m r
of the mother country (Franco) being used 1.
23. There is no mint for the colony of Mad ago.
2ETCVT DIMCTOa OF MIST.
TRANSVAAL
irftefoUudM wOm dbCt^xI arts dne Wfcl«
• tfet a c^ua iwot d mrrat cvnaf* has bee* muhied m :>
rial su ■ tk» UJ—trr of vfcick A« irmi
(iBti: I»prrts and r*ip. rt# of pAd A
The coutnei of origin far «pecif «-«*■ are not available. the cmbum fbtsn b««f
■imply the route* b r which imported The weu&i of specie ia no* available
AS the name erJid with the except** c f 4S7 ounce- J £ne gold, which went to Ger¬
many, and cold concentrate* to the vatne <j4 tt.Kt. which weal to PUtrpR* E***
Africa, west to the I n- led Kingdom
Copper imported and exported:
In th* imUBce all tb* cooper, with the except** of IS tonj^which »**t to Oecaany
went to the I'niUd Ku^uam. The oltixnate deacinata* of the rpecae (con) m not
^and •. Aouqbt c 4 I'nited States gold con imported or melted during 1W
BEPORT DfBECTOB OF MIKT.
289
10. The total production of gold during the calendar year 1908 was 2I9,47"> kilo¬
grams; value. £29, 973, 214 ($145,669,819.04).
U. No silver vu* produced direct from sil\er mines during the calendar year 1908.
The total quantity contained in the gold bullion produced bv the gold mines was
24,248 kilograms, commercial value. £84,360 ($409,989.60). Other base-metal mines
returne<l an estimated amount of 770 kilograms of fine silver, valued at £2,546
($12,373.56), contained in their various shipments of base metals.
12 and 13. There are no refineries in the Transvaal colony.
14. The following was the stock of gold coin and bullion, respectively, on Decem¬
ber 31, 1908
Gold coin
Gold bullion .
£ t. d.
3, 209,074 10 II', 615,354.064
206,043 17 5- 1.301, 109. 4.W
No statistics available ns to amount in circulation. .
16. The following was the stock of silver coin and bullion, respectively, on Decem¬
ber 31, 1008: £ f t
to bmto, silver coin . '*.*« 7 1M 420
No statistic* available as to amount in circulation. . , •
10 and 17 There were no notes of the present Transvaal government m circulation
<iUlTan1d°i9. Bank note* outstanding at the end of the year W08:
($2,806,250.58). The law provides that Leery bank .wh“* J thb
issued, notoe in the Transvaal, shall at all limes have in hand at i to head offleeta tlu*
colony, or both at its head office and ito branch office in this ? JEK 2
legal coin equal to 33 J per cent of the total value of all bank note* in circulation at
tho time, and a**cto in thus colony for the balance . . ,b0 countrv.
20 Actual currency of the country Gold is the standard current Lf^u^s of the
■Silver is legal tender up to 40s., coppar, up to Is. T tl I'giv the
various banEdoing business in the fronavaal show that on December 31, 1908, the
banks held
Infold coin...
In silver coin .
£3,-09,074
131.345
iiilvercotn. . . , . , . a •
These returns also show that ft the sufnedate the notes ^ igoTsVo, 1 14,265.61).
actual circulation amounted to £589,763, making a coin was actually in circu¬
it is not possible to say what ■ aniountof gol-1 ami «1 « com was aciua .
lation, but this did not probably «c®ed -LoOO, ^ j urrency>
lTr»n*l»Uou ]
The Ethiopiax Monetary System
L * Addu-Abbob.
Wo have extracted from a recent oporto the Ethiopian monetary system and
tho interesting information which follows upon
the effects ujmhi commeitaal tranTOCUojM. talari. They have either the
“Tlio monetary unit in Abywni* uinM Tbeir value varies according to
SMStfSX* & ^Uxt&rqu*rt'r th*,cr’ doub p,““r
(toumoun) or eighth thaler, And pias • 0f which the value varies accord-
“To the different coins is *dded the cart g for l thaler
ing to that of the monetary' unit, win® ™ 1 ^ the mark of the French society
‘‘To have currency the cartridges have io oc^r
°,‘ThT.‘^i»m Stalt&w »PP~» b“‘ iD pnKtiC' “ U C'>mpl‘Ci,ed
,0^AlS!MM do no. have ,c.ual cu^ncy ox«p. in Add„Abbob.
and in the large centers. t tbem> but the people and the small
“The principal houses everywhere acc P . ^ market they can not settle
merchants refiise them, therefore upon the interior
their purchases in M<Whk thalers h -a in France and that coined in Italy.
“Second. The thaler is of two kinds, tjtotcoin at the lion engraved upon the reverse
The first is distinguished from the second in that me non
19711—10 - 19
290
bepobt director of mint.
<)f the first iH smaller, with a closed mouthy tJaM 5^the*c^
® ssura swsrf
Voi^bMlwwajTU^
at the mint of Addis-Abbeba. The first are • tho!i which proceed from the
JUXmH ^SueTZproductionot^o^
are of difficult currency, ' which the Aby^mianuun
‘franyuwi,’ because the people consider thu * C( l" heraldic science can not be
f“n?dLT^ ;”oiS sfjsn <iiffprent «— - •**
i_i- ..U//. /mi/ihavfiV . «• _ «Ka nmirfpr thalora,
following oecrec, o
"ub,^„'b & »p<.n ^ r
• “francawi,” as lawful, we have decided tos«via#wn> and daily
whoreluee become the property of tho
s£? ;:s
4&
fiSSSr.' To^lftyallLB returned to order it „ a queetion
“ Fourth. Four quarters in this country <J - transactions they give you
tssayssr-a wsgfmA. •— « - ™-~ -
. . * J™
public & thpChoA.
account of their «tock, is found auogeu.^ — • •
** “In abort^ the pfanton t^ei\ wWchpr«eed^froin|Triertej
“In short, tnc piastre Theresa tlialer, which proceeds irom
“Bv wav of compensation, the Maru inert** current everywhere, always on
vrho^tb^coining 5 thtf nmnev - ' ",3 we£ £»n™cnl One of the todice-
,h« condition that they do not show t™ ee f » hj right .boulder, which hold-
tion. ol .ear is the deiacmg ol the chap Srtnnd out. and. naturally.
dbrawS toUn iheP^r For redone which are not clearly apparent, th. p.oc
4. fn II v rpliihCnl t • _ _ but when
the rmimentoftne^mpr^r Which are not clearly apparent, mis pi—
disappears tirsi in u>« »'*•
is unmercifully refused . peculiar money, the cartridge; but when
“What people might be aurpneed*.^ . their full value .Ml the world
one know, the country Utey « ThCT,(ore it can he raid that Aby*.n.a
“What people nuR»‘ M”r“ T'“ ' understand their full value, ah un- wy*-
one knows the country’ they <**« Y Therefore it can be said that Abyssinia
£o« armed, from the poorest to thench«^ They serve either to charge a
Struly an armed natiom cartndge h_^ ^ (fI my that the actual condition
gun or to pay lor what one | , ^j -v have m>t arrived at what they may dc .
f mss& ssa? wSs -the ^ of ** u~.
is either that ol whic h .commerce encounters
■— *- th- ^rincipftl caUM6'
•«1 Variations in exc hange.
r.S; to silver would
“They also preven^the annoyyca. aml el^ » Nation in the form of civet,
SfSafi afford, oolv a .mall profit
AUSTRALIA.
New South Wales Bankino Returns, 1908
NOTES IN CIRCULATION.
The note circulation for the last (our quarter. i« stated as follow.
Q"*aSch.'is»:..
June, 1W»>- -
September, 190*
DwJcnib^r 190S
. £1,730,484
. . 1,713,314
1,674.024
1,703.104
0,870,920
The°«i»n.ion usual toward the close ol tho year is indicated But for the whole
year only a slight increase appears
REPORT DIRECTOR OF MINT.
291
COIN AND BULLION.
The holdings of coin and bullion for the last four quarters are stated as follows:
Quarter ended —
March, 100$ .
June, 1008...
September, 190S...
December, 190$...
. £10, 158,266
0,806,382
0,348,227
0,600,447
Total..
38.016,322
The amount is about the same as a year ago.
NEW ZEALAND.
Answers to interrogatories. 190*.
American Consulate-General. March tit, 1909.
%£$*£& idlv^tlndu-ma. ad, during .90S No, «c«-
‘“V^m^and' export, of go.d and .Ivor during .90S
^Tnlted Kingdom.
vicw°8oiit h Wale*.
292
BEPOBT DIBBCTOB OF MINT.
COLD extort. 1907.
The quantity of gold entered for exportation through the CTtiom? for the year 1907
rasas follows
.
ralued at £2,027,490, a decrease of £243,414 as compared with the export returns for
the previous year (1906).
8 and 9. So gold coin of the United States in New Zealand
J?r **1 !r ^ i3 ’n,f expert figures of gold and silver represent the output.
14 and 15. On December 31, 190S. the banks held cold and silver coin and gold and
silver bullion to the value of £4,585,755.
16 and 17. No government notes issued in Sew Zealand.
18 and 19. Notes of banks of issue outstanding on December 31. 190«, £1.007,222
20 and 21. Actual currency of the country: Gold (no premium >
22. Laws passed during 1908 affecutar the currency: None.
23 Report of mint published: No mint.
QUEENSLAND
Answers to interrogatories, 1008.
America v Coxae lae Service
. „ , . _ Brisbane, September 13, 1909.
1, 2, and 3. There is no mint in Queen- land.
4 and 5. Amount of fine gold and fine silver used in industrial arts during the calen¬
dar year 1906 Not ascertainable.
6 and 7. Imports and exports of gold and silver during 1908:
REPORT DIRECTOR OP MINT.
293
Exports (over sea).
Exports (interstate).
Classification and country.
Value.
Value.
Quantity.
Pounds
sterling.
Dollars.
Quantity.
Pounds
sterling.
Dollars.
aou).
Bullion:
New 8outh Wales .
Ounces.
624
2,378
11,572
Ounces .
466,226
44
1,345,373
170
6,547,258
827
11,453
12
52.02S
48
153,194
Belgium
233
TTnftsvl
81,785
326,950
1.591,156
Ore:
United Kinnlnm
. J
«130
no
535
New South wales .
• 206,530
216,541
1,053,796
Coin:
Vf*ur South WftlfK
3,507
17,067
Hongkong .
43,274
5.612
194
210,502
27,311
944
Dutch New Guinea .
an. vex.
Bullion:
498,609
53,033
258,064
Belgium .
390
44
214
219, «n
451,839
45,125
Ore:
• 29,645
18,063
88,001
• 4,415
2,237
10,886
• 585
358
805
l^avr
989
Coin:
New South Wales .
*70
V4
340
Iapua .
• Hundred weights.
8 and 9 Import of United State, gold coin, and amount of mme depeeited at mint
from mine, of the colony during UG6 : 466,088 fine
"^Am^t'ol^TXrfC’mine. of the colony during 1908: 1,162,276 fine
ounces; value, £117,889 (1^73,706). refincries of the colony during 1908: Nil.
JlSd \l bul,r°n in L *** -
the clow of the calendar year 1908: J
in bank* . ° 0 i*>m’**>
'"le^Amount of government note, outetanding at the end of the year 1908: XI, 603, 314
'ri7M5Knt of government note, not covered by legd-tonder gold and .Uver com
and bullion: £961,510 outstanding at the end of the year 1908: Nil.
n and ^ Dotw
21. Premium on affJting the currency: None.
feP^teTeritions i i mint: No mint in Queensland.
SOUTH AUSTRALIA.
Answers to interrogatories, 1909.
American Consular Service,
Adelaide , June 9, 1909.
„ , „ Amount of gold and silver coined and coinage executed for other coun-
tni gSd and fine ^Tw.'n^nd old, u£d in indurtriJ art,
kept by manufacturer,
294 REPORT DIRECTOR OF MINT.
6 and 7. Imports and exports of gold and silver during the calendar year 190S:
Exports.
Classification and country.
Gold coin:
Now Boutli Wales . .
Victoria .
Western Australia .
United Kingdom .
India..
Germany . .
Italy.
Gold bullion (bar, etc.):
United States of America.
Hongkong .
Total.
Gold In matte:
New South Wales. .
Gold ore:
United Kingdom. .
Silver coin:
United Kingdom..
Sliver bullion (bar, etc.):
United Kingdom .
Ceylon .
India .
Imports.
Weight. Value.
Ounc(s.
Total .
Silver in matte:
Now South Wales. .
8llver ore:
Now South Wales.
United Kingdom..
Belgium . —
Germany .
Netherlands .
Total. .
160
5,800.423
£8,300
210,000
350,000
17
270,050
Weight. Value.
83,978
evt
43,928
20, 631
17
41,008
£11.500
5,000
200,000
125,000
341,500
431,000
89,200
10,028
V 988
7
18,723
45,340
8 and 9. Total impirt of United States gold coin and amount of United States gold
coin deposited at mint and molted: Nil. .
10. Weight and value of gold produced from mines of the country during 1908
South Australia -
Northern territory .
Total.
2,898
5, 644
30,243
1 1. Weight and value of silver produced from mines of the country during 1908: Nil.
12 and 13. Output of gold and silver from refineries of the country' during 1908: No
refineries.
14 and 15. Approximate stock of gold and silver coin and bullion in the country
at the close of the calendar year 1908: Gold coin and bullion in the State of South
Australia on December 31, 1908
£ M. d.
In banks . . 1,878,055 9 9
In public treasury . . . 4, 121 17 3
In circulation . . ... . Not known.
16 and 17. Government notes outstanding at the end of the year 1908; No govern¬
ment notes issued .
18 and 19. Dank notes outstanding at the end of the year 190$ On December 31,
1908, £495,080. Bank notes are considerably more than covered by legal-tender gold
and silver coin and bullion.
20. The actual currency of the country can not be stated (See answer to No. 14.)
21 Gold was not nt a premium during 1908.
22. No laws were passed during 1908 affecting the currency.
23. Report on operations of mint No mint.
29*
REPORT DIRECTOR OF MINT.
TASMANIA
Answers to interrogatories, 1908.
American Consulate,
i 9 orwi -j v . . • 4 Hobart, March 18, 1909.
1, 2, and 6. No mint m this State.
njfa(n<? 5.- Fino *°?d and fine “Jvcr used in industrial arts during 1908: No moans of
ascertaining quantities; but probably insignificant.
the Oommonwea/tJi °f 8llVer W“ imP°rted excePt transfers from other States of
?oaniu9' Fnited States gold coin imported, or melted during 1908: Not any.
10. The secretary of mines for Tasmania gives the quantity of gold mined in Tas-
iin? thc calendar. year 1908 as 57,085.124 ounces; value £242,482 ($1,411,-
bullion notes that this is fine gold contained in blister copper and silver-lead
11. Silver produced during 1908: 61,040.80 tons of silver-lead ore Statistics of
pure silver not obtainable. Value, £319,-549 f $1,555, 081 .20 1
12 and 13. No refineries.
14 and 15. The stock of gold coin and bullion in the country is known only from
figures supplied by the bank, and the amount, held by them at the close of 1908 was
£712,521 ($3,467,473 44V A leading local banker approximately estimate.-* the amount
in Tasmania at the close of 1908 as about £850,000 ($4,136,525) The amount of silver
coin is included in these figures, and there is no means whatever of ascertaining the
separate items of gold and silver.
16, 17, 18, and 19. The note currency is entirely what is issued by the banks. At
the close of 1908 the notes in circulation totaled £158,276 ($769,150 15)
20. The actual currency of the country is gold, silver, and bank notes, circulating
at a parity with gold. The unit is the pound sterling
21. There is no premium on gold.
22 and 23. No state laws have been poaeed affecting the coinage of metallic or paper
money. The coinage of metallic money is under regulation now of the Australian
Commonwealth
Silver Coinage in Australia.
(From tb® Hobart Mercury, January 3, 190®.]
The federal government Is not considered likely to reverse the Deakin ministry’s
decision with reference to the proposed silver coinage agreement with the imperial
treasury, by which the latter will for a short period of years mint a new issue of Aus¬
tralian silver coins and pay to the Commonwealth the £10,000 profit hitherto pocketed
by the British exchequer The arguments against the establishment of a silver coin¬
age mint at present which weigh with ministers are, first, a desire to a\oid capital
expenditure on such an establishment until the federal capital is occupied, and, sec¬
ond, the uncertainty tlmt exists as to the practicability of giving effect to the Corbet-
McCay mint-arsenal scheme, under which the coinage of silver would be associated
with the making of the metal parts of cartridges. However, the issue is still a little in
doubt . The two West Australian ministers, Mr Mulion and Senator 1‘earre, are keenly
interested in thc Corbct-McCay scheme, and the prime minister, as treasurer, is anx¬
ious to secure the silver coinage profit at as early a date as possible. The solution of
immediate problem may be found in the taking over of the existing gold mints at
Terth, Svdnev. and Melbourne
VICTORIA.
.1 nanera to interrogatories, 1908.
American Consular Service,
Melbourne, April 5, 1909.
1 The amount of gold coined at the Melboumo mint (a branch of the royal mint, at
London, England), during the calendar year 190S wac, according to a return furnished
by the deputy master, as follows
SovsrolgiM . £S, W0, 148-*14, *». M0 M
Half sovereign k OSi^VLtt
ToUL . . 3.382.065- 15, V7&, 0HU. S3
The sum of £235,530 ($1,146,256 74), of worn British gold coin withdrawn from cir¬
culation. was recoined and included in the above. Foreign coins are sometimes
included in gold deposited for coinage, but the amount is too small for a record to be
k«pl of their origin
296
REPORT DIRECTOR OF MINT.
2. No silver coinape wa* executed at the Melbourne mint, bul British silver coin of
the face value of £42.400 ($206,339.60), and of the denominations enumerated below
was issued to the public:
Half crowns (2s. fid.).
2- »hilllng pieces .
1 -Shilling pW« . .. .
0-penny pieces .
3- penny pieces .
£9. 000— HO. 71 it 40
10.400— SO. fill. 00
9,600— 46, 7 In. 40
6.400— 31,144. 60
6.400— 31,144.00
Total
42.400-306,330.60
This silver coin wa« struck in London and would appear in the London mint returns.
British silver coin of a face value of £2,809 ($13,669.99) was withdrawn from circula¬
tion and forwarded to the London mint for recoinage.
3. No coinape was executed at the Melbourne mint for any other government
4 and 5. The weipht of pold and silver used in the industrial arts in the State of
Victoria dunnp 1908 is not ascertainable
Imports.
Exports.
Classification and country
Value
Value
Quantity
Pounds
sterling.
Dollars.
Quantity Vouniis
sterling.
Dollar*
OOLD.
Gold bullion, bar, dust, stc
Great Britain .
Ounrn
1(0
87,203
385
342,649
1.022.26
1,667,440.08
Ouncet
26,668
107,762
524,423.77
Oylon .
14,110
66,468
62.852
236,462
306,809 25
1,151,228.98
Total .
87
343,044
1,669,472 29
100,236
407,176
1,961,522.00
Gold specie.
666,270 '
3,242,500.28
243.325.00
440,179-79
357,566.09
608,312. 50
243,325.00
49, 102. 99
3,771.58
G. 861,765. 0U
243,325 00
2,189,025 00
Cape Colony ... .
Hongkong
50,000
90,441
India .
73,476
Natal . .
New Zealand .
China
2,570
12,406. 90
124,000
50,000
10, 000
Franc*-
Germany ....
Italy .
775
1,410,000
30.000
480. OJO
Japan. . .
Total .
2.570
12.806.90
2,976.061
14. 483,098. 18
Gold contained In matte:
Great Britain .
United States .
I
9,675
1,040
37. 1W
4.138
180,586.08
20,137.57
Total .
.
10,731
41.246
300,723 65
Gold ore, quarts, and concen¬
trates:
Germany (hundredweight)
24
300
973-30
an.vxx.
Silver bullion, bar, ingot, etc.-
Great Britain . .
" l
66
32L 18
10,338
370
5,547.81
204.39
f New Zealand
l,142
Total . .
80f)
66
321 16
10,708
1.182
5,752 20
Silver specie
Great Britain . .
49,400
240,405 10
Now Zealand .
France
- - • 1 . . : • :
265
1 ! 2*0. 62
Total .
.
49.400
240,406. 10
5.065
24,648.82
Silver contained In matte:
Great Britain ... -
United States .
664,341
. 34,029
67,783
3.895
329,86507
18,955 01
Total .
719.380
71,678
348,830. 96
Silver and silver-lead ores
Straits Settlements .
.... 1
Belgium .
Germany .
P . i
69,842
4,160
31,700
2,160
3,290.03
144,311.84
10,511-64
Total..
74,182 l
34,543
168,103.50
REPORT DIRECTOR OF MINT.
297
6 and 7. The import* and export* of gold and silver into and from the State of Vic¬
toria during the calendar year 1908, by oversea county (excluding the other
Australian State?) have been compiled from a return furnished by the Comptroller-
General of Australian customs, and are as follows: _
8 and 9. The import of United States gold coin during the calendar your
small, being brought by members of the Atlantic Squadron, which visited here in
in the calendar y ear 1908 gold amounting to 670,910 ounces, fine, valued at £..8tJ,838
^‘ll'^l^wrltarv of mine, also report, that the production of silver in VW«J
“Sand"” ou'tpTof gold and silver from refiucrie. k jlfc. contmned
in the production of Victoria given *£, ETSToSSS^W^ close of the
calcndar'ycar'KIOS u°authcrimti vehTatated to have been *7.600,395 1*36,966.981.61),
and held as follows:
Id banks .......
Total banks . .
In circulation . .
/£6,$».040-*31,776. *8. 07
\ 422,104- 2,054,100.11
6 051,744- 33, t>3«, 061 18
048.581- 3, 150.au> «
7.600,325- 36,986, 96L 61
NoTg!dd is "held by* the public tr«*ury. as government moue, i. deposed at the
^Th^toek of silver coin and bullion in the State of Victoria at the cl- of the
calendar year 1908 was as follows. £348,2b5-»i,«4,oi 62
Coin In banks
Coin In circulation .
±.A4S. JIO— #1
lttiuftl- 710,032.06
494, 167— 2,404,863-70
e„rn°t£ri-".Wb<o the S
«■£“&. A. ne government not* ere M *•» — — outaundm* -
"fslTw. The everag^moun^of Jfe ^'"of
isvs M w«h
on The curroncv ol me oum «■
WESTERN AUSTRALIA.
A ns ti ers to interrogatories, J90S.
Ahebican Co™
, and , Amount of go.d and silver coined^ during the calendar year 1908
Number of Value.
Denomination. piece*.
Boverel*™ • .
Half jovorei*113 •
None of the above was
recoinage. No silver was coined.
4,876.617 £4,875,07
24,«<S 12,334
4,900,285 4,887,951
298
REPORT DIRECTOR OF MINT.
4. Amount of fine gold used in industrial arts during 1908 About £5,000; about 80
per cent of which was coin and the balance old gold, manufactured gold, etc.
5. Amount of tine silver used in industrial arts during 1908: About £500. (Tho
mint sold 1,258.10 ounces of fine silver during the year to local manufacturers.)
G and 7. Imports and exports of gold and silver during 1908
8 and 9 Total import of United States gold coin and amount of United States gold
coin deposited at mint and melted during 1908. None
10. Gold produced from mines of the country during 190S: 51,256.95 kilograms,
value, £6,999,881 10s 10*d.
11. Silver produced from mines of the country duriug 1908. Amount exported,
5,239.66 kilograms; value, £18,877
12. Western Australian gold refined at the mint produced 1,273,545 ounce* of fine
gold, of the value of £5,409,672.
13. The silver extracted from gold at the mint duriug the year amounted to 146,266
ounces.
14 and 15. Approximate stock of gold and silver coin and bullion in tho country at
tho close of the calendar year 1908
Coined cold and silver and other coined mends (held by the hanks)
Gold and silver In bullion or hors ......
(Sliver Included in above; no means of giving proportions.)
11,517 AS
mm
INDEX.
A.
.. . I'M*-
Africa:
Monetary statistic!* of . . . . • - ■ * * * * j * . 7<*.
Production of gold and ailvor, 1900, 1907, and 1908 .
Alabama : _ . m
Production of, 1908, estimate of Director . 1,1
Alaska : o i
Production of, 1908. estimate of Director. . . . ...... - - -- • • - .
Amount aud cost of silver bullion purchased for subsidiary coinage . to
Appropriations and expenditures. . . . .
81
estimate of Director .
Arahia . .. , . 236
Monetary statistics of .
Argentina: . .... 161
Monetary' statistics of . . . . - - - ; * * ■ ^ . 123
Production of gold and silver, 1900, 190/ , and I9tk .
Arizona: . ... . 81
Production of, 1908, estimate of Director .
Arts and manufactures: , . „ .. , c. 77
Gold and silver used in United btates . ^
Gold and silvor used in tho world . 25
Assay and valuation of gold bullion . jg
Assay Commission, proceedings of . !!]!!! . 73
Assay offices, minor, work of .
Aasav office at New lork: 68
. 104
^CWnaJto of. 1906. 1907, anil 1906 . 290
. m
'907, anil 1906 . 'lW
fXSZ8£ft8 »dV.ivor; and 1906- . ;;;;;;;;;;;;;; 'g
. 1,9
B.
jS
Bank of France, composition of reserve .
Bars, gold: . . 80
2 Stt Si =S SSE '&-* . 99
Belgium: 122
Monetary statistic* of. . • - *•-••• : 192
Nickel and brume coinage for Siam by . ltf2
Silver coinage for Salvador by . gj
Boise assay office, operations of .
301
302
INDEX.
Bolivia:
Coinage of, 1900, and’ 1908 .
Monetary statistics of .
Nickel coinage for, by France .
Production of gold and silver, 1900, 1907. and 1908 .
Brazil:
Coinage of, 1906, 1907, and 1908 .
Monetary statistics of .
Production of gold, 1906, 1907, and 1908 .
British Empire:
Coinage of 1906, 1907, and 1908 .
Monetary statistics of . .
British East' Indies:
Production of gold, 1906, 1907, and 1908 .
British Guiana:
Monetary statistics of .
Production of gold, 1906, 1907, and 1908 . .
British Honduras:
Coinage of 1907 .
British India:
Coinage of. 1906, 1907, and 1908 .
Production of gold, 1906, 1907. and 1908 .
British West Africa, monetary statistics of .
Bullion:
In mints and assay offices June 30, 1909 .
Operations, fiscal year 1909 . . .
Operations, legal allowance and wastage .
Purchased .
Silver, average, highest, and lowest price .
Silver, balance on hand June 30, 1909 .
Value of silver dollars at average price of silver from 1837, table of.
California:
Production of, 1908, estimate of Director .
Canada:
Coinage of, 1906, 1907, and 1008 .
Monetary statistics of .
Production of gold and silver, 1906, 1907, and 1908. . ...... ” ! ! . ]
Carson mint, operations of .
Central America
Monetary statistics of .
Production of gold and silver, 1906, 1907, and 1908 .
Ceylon :
Coinage of 1907 and 1908 .
Cyprus:
Coinage of 1907 and 190S .
Charloiie assuv office, operations of .
Chilo: ' .
Coinage of 1906 and 1907 . • .
Monetary statistics of . .
Production of gold and silver, 1906, 1007, and 1908 .
China:
Coinage of 1906, 1907 and 1908 .
Monetary statistics of .
Production of gold, 1906, 1907, und 1908. .
Circulation of money in the United States June 30, 1909 .
Classified statement of expenditures .
Coin, subsidiary, cost of silver purchased lor . . .
Coin, United States, in Canada . ’ ’ .
Coins, foreign, melted by certain countries . . .
Coins, foreign, value of . *“
C-oina, United States, melted by various countries.
Coins, Philippine, weight and fineness of .
Coinage:
Of gold and silver sinco 1873, fine ounces and value, by fiscal years
United States, fiscal year 1909 . '
United Stutes, 1906, 1907, and 190S (table).*. .
Pag*
122
165
19S
123
122
170
122
122
202
123
172
123
122
122
123
278
76
70
70
16
20
19
119
81
122
148
123
61
152
123
122
122
63
122
176
123
122
237
123
76
24
16
77
83
84
83
13
12
11
122
INDEX.
303
( "oinagc— Cont inucd .
United States, since 1873, by weight and value. . .
United States, for San Salvador .
United States, for Philippines .
World .
World, 1906, 1907, and 1908, table of .
World, since 1873, by weight and value .
Colombia:
Coinage of, 1906, 1907, and 1908 .
Monetary statistics .
Production of gold and silver, 1906, 1907, and 1908.
Colorado:
Production of, 1908, estimate of Director .
Commercial value of silver . . .
Cost of maintenance .
Cost of silver purchased for subsidiary coinage .
Costa Rica:
Monetary statistics of . .
Course of silver . .
Par-
12
15
13
81
122
82
122
177
123
81
20
73
16
152
20
D.
Danish West Indies, coinage of, 1907 .
Dead wood assay office, operations of .
Denmark: 199
Coinage of 1906, 1907, and 190b . ““
Monetary statistics of . ^
Denver mint, operations of. . -
Deposits and purchases of silver . — - - - . •**.*• ' ‘ ‘ ' .I'i 8
Deposits and redeposits of gold and silver bullion and com, recapitulation. ... «
Deposits of foreign gold bullion and coin . g
Deposits of foreign silver bullion and coin . . 5
Deposits of gold bullion .
Deposits of gold and silver — g
At mints and assay offices . . 90
At mint* and ajwav office*. tables of. . . - • . y
Deposits of gold at mints and assay offices since 18 < 3 . 10
Deposits of silver, fine ounces since 18^- - .
Disbursements, receipts, and balance of gold bullion. 73
Mints and assay offices .
Distribution— . ™ . 81
Of gold and silver, by Mates and Territories .
Of silver dollars........----- . 20
Dollar, silver, amount, distribution of .
Dominican Republic: # 158
Monetary statistics of .
Dutch East Indies: 122
Prod motion if^d and Silver in 1906, 1907, and 1908 . 123
Dutch (iuiana: 178
",907- and . . 123
E.
Earnings and expenditures— . 2 2
Of mints and assay offices . 106
Table of .
:::::::::::::::::::::: 1
8S& priioo TSo Id and ailver. 1906, 1907, and .906 . 128
Ecuador: ... # . . 179
I^Jductmn'of gMd, *1906, 1 907,' and 1908 . 123
^Coinage of, 1906 and 1907 . ! ! ! 279
Monetary statistics of .
304
INDEX.
Estimated stock in United State* and per capita since 1873. -
Estimate of Director, of gold and silver product of United States
Exchange of gold bars for gold coins .
Expenditures and appropriations:
Mints and assay oilices .
Expenditures, classified statement of .
Exports and imports:
Exports, net, of U. S. gold coin since 1870 .
Gold and silver bullion and coin, tables of .
F.
Finland:
Monetary statistics of .
Foreign coins of certain countries, melted . .
Foreign coins, value of .
Foreign countries, monetary statistics of .
Foreign governments, coinage for, by United States .
Formosa, monetary' circulation in...* .
Franco:
Coinage of, 1906, 1907, and 1908 .
Monetary statistics of .
Production of gold and silver, 1906, 1907, and 190S .
Freight charges on bullion and coin shipments . .
French Guiana:
Production of gold, 1906, 1907, and 1908 .
G.
Georgia
Production of. in 1908, estimate of Director .
Germau East Africa
Coinage of, 1906, 1907, aud 1908 .
Monetary statistics of .
Germany:
Coinage of, 1906, 1907, aud 1908 . .
Monetary statistics of . !.!!!!!!!!!!!
Production of gold and silver, 1906, 1907, and iflOS .
Gold:
Average price in London since 1870 .
Bars exchanged for gold coin . . . . . [
Bare manufactured at mints and assay oilices....... .
Bare manufactured at mints and assay office®, table of . .
Bulliou. assay and valuation of .
Bullion deposited at mints and assay office*. . !!!!!!!!!!!!!!!!!!
Bullion und coin deposited at mints and assay offices Vince 1873. .
nullum, redeposits of .
Bullion stock of, iu United States June 30, 1909 .’!!!!!!!!!!!!!!
Coin of United States melted by certain countries. .
torn, United States, net exports of, since 1870
Coin of United States in Canada . .
Coinage of mints of the world since is73 .
Coinage of mints of the United States .
Coinage of the United Slates since 1873 (weight and \^al ue). * !
^ <l792>‘
Deposits at mints and assay offices since 1873.
Deposits at mints and assay officos, table of
Deposits, foreign . .
Imports and exports, United Stitt* coin! ainee 1870 .
Movement from the port of Now York .
Product of mines by States and Territariw* Yatw .
Product of mines of United States since 1792 .
Product of the world. 1906, 1907, and 190S .
1WH lZ In3ua!rla PurP^<* in United States.'. .
IK [or lnc!U9tnal purges iu United States sinr«’iV*n .
Used for industrial purposes in the world . .
• axe-
77
81
80
21
24
75
108
202
82
84
86
15
270
122
197
123
74
123
81
122
214
122
210
123
119
80
15
96
25
5,8
9
6
73
S3
75
82
11
12
120
5
9
90
6
75
74
80
120
123
77
78
80
INDEX.
305
Gold and silver:
Approximate distribution by States and Territories .
Bullion in mints June 30, 1909 .
Coinage by nations, 1906, 1907, and 1908, tables of .
Coinage of United States (weight and value) since 1873..
Coinage of the world (weight and value) since 1873 .
Estimated stock of, since 1873 .
Ingots made and condemned . .
Product of the world (weight and value) since 1493 .
Used in industrial arts in United States since 1880 .
Government refineries-
Earnings and expenditures of .
Work of .
Great Britain :
Coinage of, 1906, 1907, and 1908. . . . .
Imports and exports of gold and silver bullion and coin.
Monetary statistics of . - . * - - • ■ .
Production of gold and silver, 1906, 1907, and 1908 .
Greece:
Monetary statistics of . - - • . .
Production of silver, 1906, 1907, and 1908 .
Guatemala:
Monetary statistics of .
Guiana ( British ) :
Coinage of 1908 . . • - - . .
Production of gold, 1906. 1907, and 1908 .
Guiana (Dutch):
Monetary statistics of . • • - — • - - •• .
Production of gold, 1906, 1907, and 1908 .
Guiana (French): .
Proauction of gold, 1906, 190#, and 1908 .
H.
Haiti : .
Monetary- statistics of . - . .
Helena assay office, operations of... . .
Highest, lowest, and average pnce ot silver .
Honduras: . • ••
Coinage of 1907 . . . • . ‘ ' ’ .
Monetary statistics of .
Hongkong. e ^ 190fi an<J . . .
Monetary statistics of .
Hungary: . . .
Monetary statistics ot.. 'V ^ ^7. am| 1908 .
Production of precious metals, 1900. . .
The new 2-crown piece . .
P««e
81
76
122
12
82
77
71
126
78
22
15
122
205
202
123
215
123
153
122
123
178
123
123
159
62
- 20
122
156
132
265
187
123
190
^Production of, 1908, of Director. .
"'‘"production of, 1908, of Director..
Imports and exports:
Gold and silver, table of.^
India
O? United SUtOBKold coin since 1870 .
(British)
oinage of
(linage of 1900. 1907, and 1908 .
&7on^l“'.90«;Vw..ndl908 .
Iud Co’nwc for. by Franco. • ■ — •
(vj"„Se Of i900, .1907. and 1908 .
Production^of 'Rold*. *1907 and" 1908 .
19711 — 10 - 20
81
81
108
74
122
252
123
198
122
198
123
306
INDEX.
Industrial ark*: ...
Consumption of gold and silver in. in the world .
Gold and silver used in, in United States. . - - - - -
Ingots, gold and silver, made and condemned and percentage of coin produced.
Interrogatories sent U) foreign countries .
Italy
‘Coinage of 1906, 1907. and 1908 .
Monetnrv statistics of .
Production of gold and silver, 1906, 1907, and 1908 .
80
77
71
8ti
122
216
123
J.
Japan
Coinage of 1900, 1907, and 1908 .
Monetary statistics of .
Production of gold and silver, 1906, 1907, and 1908
Jewelers’ liars, deposits of .
K
Korea
Coinage of 1906, 1907, and 1908 .
Monetary statistics of .
Production of gold, 1906, 1JH)?, and 1908
122
268
128
5,9
122
271
123
L.
Laboratory, Bureau of the Mint, work of .
Latin monetary union .
Legal allowuuc«\ bullion operations .
Liabilities and -.o*«ets, mints and a*»y offices. June 30, 1909.
Liberia, coinage of 1906 .
Monetary statistics of. . . .
Ixication of money* of United States June 30, 1909 .
Ixws of legal allowance, percentage of .
lyOss on wide of sweejis and wastage .
24
201
70
10-1
122
287
76
70
71
M
Madagascar:
Monetary statistics of . . 287
Market price for silver . . 20
Metal operated upon, wastage and loss . 70
Metallic stock of United States . 76
Metallic stock, United States ownership of . 76
Mexico:
Coinage of 1906. 1907, and 1908 . 122
Monetary statistic*. . 150
Production of gold and silver, 1906, 1907, and 1908 . . 1211
Miehigun, production of 1908, estimate of director . 81
Minor coinage of the United States . . 11,43,49
Minor coins issued, remelted, and outstanding . l. . . 44
Mint of the United States at:
Denver, operations of . 54
New Orleans, operations of . 50
Philadelphia, operations of . 39
San Francisco, operations of . 45
Miuts and assay offices, earnings und expenditures of . . . 21
Missouri, production of 1908, estimate of Director . 81
Monetary:
Statistics of foreign countries . 86
Money in the United States, stock of . . 75
Moneys
Of the United States, metallic and paper, location of . . 75
Montana, production of, 1908, estimate of Director . . 81
Morocco:
Coinage of 1906 . 122
Monetary statistics of . . 219
Movement of gold from port of New* York . ... 74
Mutilated and uncurrent domestic coins transferred and purchased for recoinage. 11
Mutilated and uncurrent silver dollars purchased and used in subsidiary' silver
coinage . U
307
Net eximrts United States gold coin.
Netherlands
j»rr
76
Coinage of 1900, 1907, and 1908 . 122
Monetary statistics of . . . - . - - . . . . 219
Nevada, production of 1908, estimate of Director.
New design for the one-cent piece . 11
Newfoundland, coinage of 1907 and 1908 . . . 12*-
New Hampshire, production of 1908, estimate of Director . 8|
New Mexico, production of 1908, estimate of Director . ™
New Orleans mint, operations of . ?r
New York assay office, operations of
New South Wales:
Monetary statistics of. . .
New Zealand monetary statistics . " .
Nickel coinage provided for Uruguay . j-j
N igeria coinage order of 1 908 ............ . ,o
North America, monetary statistics of.. . -••• . a.
North Carolina, production of 1908, estimate of Director..
Coinage of 1908, 1907, and 1908.. ^22
Monetary statist ice of . • - • - • - • ■ . 123
Production of silver, 1906, 1907, and 1908^.. . -u
Notes of United States outstanding June 30, 1909
J90
291
O.
Oregon, production of, 1908, estimate of Director . 76
Ownership of metallic stock of money .
Panama:
Currency of .......... •
Paper money in circulation in
Pereia:
Coinage of 1906 . . .
Monetary statistics of -
United States June 30, 1909.
PenCoinage of 1906, 1907. and 1908
0 .
Monetary statistics 1907‘ and 1908
Production of gold and silver, iwo, w
Philadelphia mint, operations of .
Director .
P°rt^eofl9«7aodl908.
Monetary statistics of .
Price of silver . — (;ommiBeion, . .
157
76
122
272
122
180
123
39
13
123
81
81
122
223
20
36
Proceedings of the a__ y _jiver
Production of of .
In the world since I860 . ' ’ ' .
Purchase of silver . ^
123
120
123
126
121
16
292
70
72
72
308
INDEX.
. 13
ltecoinagc ol 1 niuppuur . - • - • • • .
Recoiuage of standard silver dollars since 1883 .
Recoiuage of uncurrent subsidiary silver .
Recoinage of the world. . . . ‘ ’
lvtKlC*JX>81t£ Ol gulU uiiu on • * • ’ "
Refineries, (iovemment, work of . • .
Refineries, earnings and expenditures of .
Roumania:
. 122
Coinage of. 1906, 1907, and 190S .
. 122
SSSXSSB nndViiver, „d ,908.
S.
f . 64
St. Louis, a.*<aav office, operations of . • . <jg
Salt I ^tke City, assay office, operations ol . . 45
San Francisco mint, operations of . . 122
San Marino, coinape ol. . .
San Salvador: 122
Coinage of 190S . 157
M onetary statistics of . ] 92
Silver coinage by Belgium . . 122
Sarawak, coinage of. 1906 and 1907 . . 55
Seattle assay office, operations of . 20
Seigniorage on coinage of silver . 44
Seigniorage on minor coinage . . .
^"production of gold. 1906. 1907. and . . 123
Siam i2*>
Coinage of. 15)06. 15)07, and 1908 . 272
Monetary' statistics of . . •--••••. - / . 192
Nickel and bronze coinage by Belgium lor .
Production of gold, 1906, 190/ . and . .
Silver and gold 75
Bullion in mints. . ;-••••• . H
Coinage of the United States . . ............. .
Coinage of the U mted States since 1873 (weight and value 1 . “
Coinage of the United States since organization of Mint .
Coinage of the world — . . . • • . 6 7
Deposits and purchases of . . . . - v . . ‘,00
Production in the l nited States since 1*9- . . *• • • • ^23
Production in the world. . • - . --
Used in industrial arts in the l mted States . '
Used in industrial arts in the world. . . . \ .
Silver coinage by the United States for Philippine** and San Salvador . IA,
Silver 20
Average price of . - . --
Bare furnished for use in the arts . . . . '
Bare manufactured at mints and uaay offices . ijj
Bullion, balance on hand Juno 30. 1909 . - .
Bullion on which charges were collected . . l5
Bullion deposited at mints and assay offices . . . *•
Bullion, highest, lowest , aud average pnee of .
Bullion in mints and assay offices June 30. 1909 .
Bullion, redopoflite of . -*
Bullion, value of a fine ounce . rV
Coinage by the United States for Philippines . . J"
Coinage bv the l nited States for San Salvador . .
Coinage of the United States . . . *
Course of .
Deposits of . ‘
Deposit** of. since 18S5. fine ounces . . .
Dollars, annual a\etage value since 1837 . 119
Dollars, distribution of . 20
INDEX.
309
Silver — Continued.
Dollars. recoinage of. since 1883 . .
Highest, lowest, and average price of . .
Pnce of . . .
Product of the United States . .
Purchases for subsidiary coin, cost of .
Seigniorage on .
Subsidiary, recoinage of . .
Used in industrial arts in the United States . •••••
Used in industrial arts in the world .
South America:
Monetary statistics of .
South Australia, monetary statistics of . - • .
South Carolina, production of. 1908, estimate of Director .
South Dakota, production of, 1908, estimate of Director .
Spain:
Monetary statistics of . -v ••••••; AAo .
Production, silver, in 1900, 1907, and 1908 .
Standard silver dollars, recoinage of .
Statistics of foreign countries . . .
St. Ixmis assay office, operations of . . ■ • • • • ; if -llj'
Stock and location of the metallic and jwper money of the U mted States..
Stock-
Bank of France . . . . : * .
Of gold and silver in the United States since 1873 . .
Of money in the United States .
Straits Settlements .
Coinage of 1907 and 1908 .
Coinage order of, 1908 . .
Monetary statistics of . .
Subsidiary coin, cost of silver purchased for. .
Summary of operations, mints and assay offices . .
Sweeps, sales of and loss on .
SWeCoinage of 1900. 1907. and 1908 .
fSX&ffiSR & .iiveV.i^: Vobv.-nd
“■‘Sa&IMOS.lWT..* . .
Monetary statistics of .
T.
P ass-
11
20
20
80
16
20
16
77
161
293
81
81
230
123
11
86
64
75
200
77
75
122
174
278
16
70
71
122
231
123
122
233
Tables
ay offices, Juue 30, 1909.
authority tor coining. <*««.<' »-«'■* “d
Coinage, Unjtod by JJJf “V.'. i ImtionT' u n J value. einee 1792 .
Deposits of gold . .
Earnings and expenditures . .
Expenditures for «uppjj* . .
, lnd ?aVMMrtT“gold Mdrilvor. fbcnl year 1909 .
Imports and export^ ^ rountriw . . . • .
Moneta^ statistics of foreign cou -ggft— 8inco 1792
Production of go d and \ worK1 1906. 1907, and 1908
Production of go d and £ world since 1493 .
Product on o go d and b “ worM aince 1860 .
Production of .
nSapiXionof Sport, of bullion and coin. 1909. .........
^C^.Uv«do"aC~ily.inc- 1837. ... •
oi ®irector .
104
119
98
134
100
136
122
90, 92
94,96
106
128
117
108
148
120
123
126
121
102
116
118
119
295
81
310
INDEX.
Texas, production of, 190*, estitnntc of Director . .
Transvaal
Monetary statistics of .
Tunis, coinage of. 190fi, 1907, and 1908 .
Coinage of silver by Prance for .
Turkey;
Coinage of, 1900, 1907, and 1908 .
Monetary statistics of .
Production of gold and silver, 1900, 1907, and 1908
U.
Uncurrunt coins for recoinage .
Uncurrent coins for recoinage, table of .
United Kingdom:
Coinage of, 11KMJ, 1907, and 11K)8 . .
Imports and exports of gold and silver bullion and coin..
Mounter) stmistu »of .
Production of gold and silver, 1900, 1907, and 1908 .
United Htate-
Coinage of, fiscal y«»ar . . .
( 'oinage of. 1900. 1907. and 1908 .
( ’oinage of, since 1873\ . . .
Coinage since organization of mint .
Hold coin in Canada .
Gold coin incited by certain countries .
industrial consumption .
Money, metallic and paper, location of, June 30, 1909. . .
Production, 1908 .
Production of gold and silver since 1792 .
Production of gold and silver, 1900, 1907, and 1908 .
Stock of money in. June 30, 1909 .
Stock of gold ami silver in, since 1873 .
Use of gold and silver in the industrial arts .
Uruguay
Monetary statistics of .
Production of gold. 1900, 1907, and 1908 .
Utah, production of, 1906, estimate of Director .
V.
Valuation and assay of gold bullion .
\ glut of foreign < ofns .
Value of pure silver in u silver dollar annually since 1837. . .
Venezuela
Monetary statistics of . .
Production of gold. 1900. 1907, and 1908 .
Victoria, monetary wtatistirs of .
Virginia, production of. 1908, estimate of Director .
W.
Washington, production of, 1908, estimate of Director .
Wastage on bullion operations .
Wastage and loss on sale of sweeps and gains from operation*.
Western Australia, monetary statistic* of .
World, coinage of . * .
('oinage of, since 1873 . .
('oinage of, l!KX». 1907, and 1908... . .
Industrial consumption, gold and silver of .
Production of gold and silver of, in 190(1, 1907, aud 1908.
Production of gold and silver since 1493, table of .
Production of gold and silver since 18G0 .
Recoinoges of .
Work of government refineries ... .
Wyoming production of, 1908, estimate of Director .
Weight and fineness of Philippine coins .
Psfs.
81
288
122
198
122
236
123
5,7
102
122
205
202
123
19
122
12
130
77
83
77
76
80
120
123
75
77
77
181
123
81
25
84
119
181
123
295
81
81
70
71
. 297
81
82
81, 122
80
123
126
121
83
15
81
13
Treasury Department,
Document No. 2534.
Director of the Mint.
2
CONTENTS.
REPORT.
5
Operations of the year . 5
^£^pSHdiSSE *; haif-eagie aUd :::::::::::::::: •
Medal department at mint at Philadelphia - ^ . 7
Cost of coinage, 1908, as shown by the cost reports . 7
Life of coinage dies . 3
Electrolytic refining. •••«*:* . . 8
Enlargement of assay office at New 1 ora . - . 9
Improvements in melting . - ; * ; 1*,', . 9
The restoration of the motto ‘ In God wo trust . 10
Use of cupric chloride in toughening brittle ingot melts . . ]Q
United States gold coin in Canada . ]0
Deposits of gold bullion. . . 12
Deposits and purchases of silver. . . . . 14
Recapitulation of gold and silver deposits . j 4
Deposits of gold since 1873 . 14
Deposits of silver since . . * . 16
Coinage of the United States. . . . . 16
Recoinage of standard silver dollars . ' 16
Coinages the United Sutes, weight and value since 18/3... . . J7
Coinage for Philippine Islands . . 18
Recoinage of Philippine coins.. . . . ^ - - . ‘ . 18
Weight and fineness of Philippine coins . lg
Coinage for Mexico . - . 18
Recoinage of Hawaiian corns . 19
Bars manufactured . . ... 19
Work of Government refineries . 20
Purchases of silver . . . 23
Balances of silver bullion . . . . 24
The market price of silver . ' ' ‘ ‘ ' ‘ . 24
Distribution of silver . . ‘ " . 24
Seigniorage on silver coinage . . 25
Appropriations and expenditures. . . . . . * - • . 26
Of , he Office of Use I)ir« tur «Uho Hint, fi**l ?
EuSnpW ejipiiditorw, minis and away offices . ; ’. ! " ’. 1 ! ! ! it
Classified statement of expenditures . . * ‘ . 28
Laboratory- of the Bureau of the Mint. . ion 7 . 29
. ::: ::::: »
Percentage of loss in melting . . 58
“i wa^e.fiicai^l^; ............ »
Ingots made and coin condemned . . .
3
4
CONTENTS.
Wastage and loss on sale of sweeps... .
Receipts and disposition of gold bullion, 1908 .
Balances, receipts, and disbursements .
Cost of maintenance. . . . . .
Freight charges on bullion and coin. v .
Movement ofgold from port of New York .
Net exports United States gold coin .
Stock of money in the United States . .
Stock of gold and silver in the United States since 1873 .
World’s Btock of money December 31. 1907 . . .
Gold and silver used in the industrial arts in the United States, 1907
Exchange of gold bars for gold coin . . .
World’s industrial consumption of precious metals, 1907 .
Production of gold and silver in the United States in 1907 .
World’s coinage, 1905, 1906, and 1907 .
World’s coinage, by calendar years, since 1873 .
Foreign coins melted by certain countries .
United States coins imported and melted by various countries .
Value ot foreign coins .
Monetary statistics of foreign countries .
Experiments in refining by air blast .
Adjusting scales .
Use of cupric chloride in toughening gold ingots .
Making nickel ingots and disposing ottroublesomo oxides .
Accurate method for obtaining low grade contents in dord bullion .
Page.
60
61
62
62
62
63
64
64
66
67
70
73
73
73
74
75
75
76
76
77
79
80
82
83
83
84
APPENDIX.
1. — Domestic production, deposits and purchases of gold, by weight .
2. — Domestic production, deposits and purchases of gold, by value .
3. — Domestic production, deposits and purchases of silver, by weight .
4. — Domestic production, deposits and purchases of silver, by value .
5. — Bars manufactured, by weight .
6. — Bars manufactured, by value .
7. — Coinage fiscal year, 1908 .
8. — Uncurrent domestic coins, bv denominations and face values, received
from the Treasury and purchased over the counter .
9. — Assets and liabilities, fiscal year 1908 .
10. — EamingB and expenditures, fiscal year 1908 . I!!!.!!!’.!!!!!!!
11. — Imports of gold and silver, by customs districts .
12. — Imports of gold and silver, by countries .
13* Exports of domestic gold ana silver, by districts and countries . .
If* Exports of foreign gold and silver, by districts and countries .
15. — Summary of imports and exports .
16. — Transit and transshipment of gold and silver . . . . . . .
17 .—Seigniorage on silver, fiscal year 1 908 . ..!!!! 1 1 IIIIIIIIIIIII !
18. Average price of an ounce of gold in London and equivalent vaiuo in
United States since 1870 . . .
19. BulUon value of the silver dollar at the annual average price of silver from
1837. . . . . .
20. — Production of gold and silver in the United States Vince 1792 " by years*. ’. *
21. — Coinage of nations, 1905, 1906, and 1907 . .
^^jd’s production of gold and silver, 1905, 1906, and i907V .
Z6.— Production of gold and silver in the world since 1493, fine ounces* ‘and
VA.1 IlfHR
^.-Statements of expenditures, mints’ and assay ’offices) ‘for’ supplies', 1908*.*.*. .
lb. Authority for coming, changes in weight and fineness, and amount coined
ot each coin .
26. Coinage of the United States, from organization of mint. .
17.— Monetary statistics of foreign countries .
Condition and stock of money of banks _ *.* ...... .
86
88
90
92
92
94
94
98
100
102
104
106
108
110
112
113
114
115
115
116
117
118
121
122
128
130
142
248
REPORT
OP THE
DIRECTOR OF THE MINT.
Treasury Department,
Bureau of the Mint,
Washington , D. C., December 9, 1908.
Sir: I have the honor to submit herewith the thirty-sixth annual
report of the Director of the Mint, covering the operations of the
mints and assay offices of the United States for the fiscal jrear ended
June 30, 1908, with other interesting statistics relating to coinage
and financial matters in this and other countries, which will bo found
valuable in considering this report.
TIIE YEAR’S OPERATIONS.
The fiscal year ended June 30, 1908, was remarkable in that there
was made at the various mints of the United States $16,530,477.25 in
subsidiary coinage, this being the largest amount of subsidiary
coinage ever made in the United States mints in one year since 1877,
when a little over $3,000,000 more than the above amount was coined
in preparation for the resumption of specie payments. The larger
part or this coinage was made in the first hair of the fiscal year, and
was whollv duo to the remarkable expansion of trade during that
period. The demand for this character of coinage ceased as soon as
the effect of the panic of last fall began to be felt, while for several
months previous to the 1st of December, 1907, there bad been a
continuous absorption of the entire output of the mints. During
the last half of the year only two mints operated on subsidiary coin,
the mint at Philadelphia operating almost exclusively on gold coinage,
and the operations of the mint at San Francisco being devoted almost
entirely to the coinage work for the government of the Philippine
Islands.
NEW DESIGNS FOR THE GOIJD COINAGE.
In response to a popular demand for an improvement in the
designs used on our coin, the President took stews early in the year
1905 to accomplish this result. It was decided to make the first
change on the gold coins, and the eminent sculptor, Mr. Augustus
Saint Gaudons, was employed at the request of the President to
prepare models for all denominations of the gold coins, and with the
purpose in view of securing a much higher relief in design than was
ordinarily used in modem coinage several models were made of the
5
6
REPORT DIRECTOR OF MINT.
same design but with different heights of relief. But it was found
to bo impossible to work any of the designs upon the ordinary coining
press until a third model was made with a greatly reduced relief.
This was somewhat disappointing to those urging a high relief, and
therefore some 12,153 pieces of double eagles from the second model
were struck on a medal press and sent to such places in the United
States where a general distribution of them could be made. Of
the new Saint Gaudens double eagle perfected for coinage in the
regular way, SI 05,939,360 were struck by the close of the fiscal year.
The new designs for the eagle were also prepared by Mr. Saint
Gaudens, and are regarded by competent critics as artistic. The
standing eagle is true to nature, while the feathered head of Liberty
is a radical departure from the head heretofore appearing on any of
our coins of either gold or silver.
There were coined in eagles during the fiscal year $4,829,060 in
the new design.
BIGELOW-PRATT DESIGNS FOR THE HALF EAGLE AND QUARTER EAGLE.
Early in the present year while the President was explaining to Dr.
M illiam Sturgis Bigelow the mechanical difficulties met with in the
effort to bring to success the double eagle and the eagle of the Saint-
Gaudens designs, especially that referring to the commercial desire
that the coins should stack or pile to a uniform height, Doctor Bige¬
low became impressed with the idea that a high or strong relief of
design on a coin could be obtained by depressing the design Delow the
face or field of the coin, instead of raising it, as was being done in all
coinage operations, thereby the field being fiat and uniform in thick¬
ness would insure a stacking, and would permit of the pieces being
piled to a uniform height.
In all other coins the wear comes on the highest point of the relief.
In these, the flat surface takes the wear ami protects the relief
which is depressed below it, the shape of the depression following the
outline of the relief. This system of countersinking a relief is one
of the oldest forms of sculpture in stone. Egypt is full of examples
of it. it has been little used in modern times except in Japan, where
it nnds a restricted application chiefly in wood carving. It has never
been applied to corns in modem times. The idea of so applving it
was Doctor Bigelow’s. Acting upon his own responsibility, lie ashed
Mr. Bela L. Pratt an artist of St. Botolph Studios, Boston, to make
an experimental design to illustrate the principle. This model was
submitted to the President, and the practicability of this new idea
in coinage appealed so strongly to him it was decided that the ex¬
periment of making a coin on thisprinciple should be made. The design
of a real Indian head, with war bonnet of feathers, was adopted forthe
obverse side, and the President selected the design of areal ea«de
standing, for the reverse side; and Mr. Pratt was commissioned to
SelDhia |h<i e?faw1 of United States mint at Phila-
mi fll Thl l W°rk WaS do?e durin" the summer and the dies
made. Ihe results were so satisfactory that the designs were im¬
proved by the President and instructions given the mint at Phila-
delohia for the striking of the coins. This coinagrw^ coi^menced
m November of the present year. ^ commenced
REPORT DIRECTOR OF MINT.
7
That the artist in producing faithful representations of both the
real Indian and the real eagle has reached a remarkable degree of
sueeess, persons familiar with those subjects must attest, llie en¬
graving work, executed by Mr. Charles E. Barber, engraver of the
United States mint at Philadelphia, is remarkably fine and sharp in
detail, showing consummate skill and an artistic hand.
' TJIE MEDAL DEPARTMENT OF THE MINT AT PHILADELPHIA.
#
The medal department of the mint at Philadelphia is now equipped
with the most powerful and modern presses and other apparatus for
the manufacture of medals of every character. During the last two
years there have been made for the War and Navy departments over
100,000 bronze medals, and the necessary bars for mounting the same,
at a much less cost than the same could have been procured from
private firms. No valid reason exists why all national medals should
not be made by the medal department of the mint at Philadelphia.
COST OF COINAGE AS SHOWN BY THE COST REPORTS.
The system of keeping account of the expenditures incidental to
the manufacture of coin, which was inaugurated last year, has been
improved and perfected so that now the figures shown therein can be
deemed reliable as giving a close estimate of the actual cost of coinage
of the different denominations. This system is based upon the
actual coinage costs only, such as ingot making, alloy, coming de¬
partment operations, and the cost of administration, but does not
take into account the cost of making the coinage dies used, t or the
first time in the history of mint operations it is thus made possible to
make a report on the cost of coinage. *L™lcond
The following statement shows the average cost per thousand
pieces for each denomination coined during the fiscal year at all oi
the mints as shown by the cost reports kept by them.
Average Cost per Thousand Pieces.
Gold:
Double eagle . . .
Sfe*::::::
Silver:
11 all dollar .
Quarter dollar.
Dlmo .
Minor:
5oent .
1 cent .
Philippine:
Peso .
50 centavo .
20 centavo .
10 centavo .
. 120.51
. 32.75
. 13.03
0.80
5.03
2.53
lL 01
8.27
5.25
3.15
life of coinage dies used in the MINTS of th* united states
DURING THE CALENDAR YEAR 1907.
nimntr the calendar year 1907 there were used in the four coinage
... »‘u» «f WSK3iSB5JSi2!
8
REPORT DIRECTOR OF MINT.
lowest, and average number of pieces of coin struck per die for each
denomination coined:
Denomination.
Total
number
dies.
Double eagle. . .
Eagle... T....
Half eagle .
Quarter eagle . .
Half dollar .
Quarter dollar.
Dime .
5 cent nickel . .
1 cent bronxe. .
Philippine:
SO centavo.
20 oentavo. .
10 centavo. .
Mexican.
50 centavo. .
20 oentavo. .
53
16
323
230
374
356
545
100
110
140
105
245
70
Highest num-
l*r nieces
single die.
Obv.
Obv.
Obv.
Obv.
Obv.
Rev.
Obv.
Obv.
Obv.
Rev.
Rev.
Rev.
Obv.
337.341
209.120
140. 304
85,218
468, H50
600,352
515, 470
294,310
493.211
481,805
266,030
276,500
201,000
Both 630,025
Lowest num-
l*»r pieces
single die.
Rev.
Jtev.
%oth
Rev.
Rev.
Rev.
Both
Rev.
Rev.
Obv.
Obv.
Both
Rev.
Both
6,728
8,410
6,650
10,255
3,000
6,780
2,589
39,080
198,218
1,000
COO
2,000
5,000
Average
number
pieces
per die.
33, 101
40,664
21,028
36,071
00,218
92,345
HO. 153
198, 419
28,557
31,540
33,542
55,078
77,038
electrolytical refining.
dopositow of IKnTor^ 'l16 ch^es to
electrolytical processes of^ mfinm^ f re**nm»* For the mints the
the old ‘acid processes In the first nin?3T advantages over
gold or sdver in thoopera5on£ Thin^l^ “ httl° <>r no of
taming small and minute particle* ,,f ’ if.m’ , ep.osl,s ar<> made con-
lost in parting and rofinin" hv thp n 1 * tmuni that were heretofore
and inure to the benefit o? tfio “7 reCOV?re‘!
in any one deposit is so small na 1 le amount contained
to the depositor for the same If all lien lt-JmPractlcal)^e to account
ally the cost of extractin “The ,Z?n . P°Slt.S,Tere troatod individu-
its value. Bv treating Tho li* v1111? 'Jou^ be much greater than
bullion the platinum if recovered vdthmi^ quant.itios with other
the Government. without any additional expense to
m^tTattftail£^dPWeiaVe Wn Called in the
enlargement op assay OFFICE AT NEW YORK,
hnder the act of Juno 30 ionr *
certarn public buddings, authorizm* ?h!f n^T the blnit of cost of
and for the erection and comnIcHolfgf il ur,cb^se of sitcs therefor
purposes the Secretary of the TWuU’ ^ and for other
contract for the remodeling of the UnL?, as authorized to enter into
York. Under the authority confoJSi • .?totas assaY office at New
which refinery operations “ ho aot the 'old building to
fixations wero prepared aiul nm,1!1'1’1 ,was demolished. Speci-
of a suitable budding in fieu the™ ^ “iT1'0*1 for ‘he construK
REPORT DIRECTOR OF MINT.
9
An urgent necessity exists for the erection of this building at an
early date. The part of the building formerly used for refinery pur¬
poses having been tom down, there are no facilities for parting and
refining bullion, making it necessary to transport all crude and
unpartcd bullion to the mint at PhiTadelphia at tho expense of the
Government to be parted and refined.
IMPROVEMENT IN MELTING.
In 1899, what was then considered a great improvement in melting-
furnace fuel was made by the introduction of gas for melting bullion
instead of coal and coke; another improvement is now made by
using fuel oil instead of gas. The mints at Denver and San Francisco
have demonstrated that oil is not only more effective but very much
cheaper than gas. One of the main features in favor of oil-burning
apparatus is that oil can be stored at or in tho building in sufficient
quantities to provide a working supply that will allow the furnaces to
be operated for a period of several weeks. With the use of oil the
number of melts made per day has been increased greatly. The
first cost of installation of furnaces and generating apparatus is
greatly reduced and the actual cost of melting cheaper. The fuel oil
used at Denver and San Francisco is obtained from the local oil fields
of Colorado and California.
THE RESTORATION OF THE MOTTO.
The motto “In God we trust” was first placed upon the bronze
2-cent piece authorized to be coined by the act of September 22,
1864. Section 5 of the act of March 3, 1865, authorizing tho coinage
of the 3-cent piece, provided for the placing of the motto on such
coins as would admit thereof. This provision was enacted under
section 18 of the act of February 12, 1873. The motto was first
placed on the gold and silver coins (with the exception of the dime,
which was too small) January 1, 1866. . .
Section 3517 of the Revised Statutes of the United States adopted
by the act of Congress dated June 22, 1874. did not provide for the
placing of the motto on any of the coins. The motto continued to be
placed on the coins upon which it had previously appeared until the
adoption, in 1907, of tho new designs of the double eagle and the
eagle, from which it was omitted, the inscriptions and legends being
confined to those authorized by section 3517 of the Revised Statutes.
Mav 18, 1908, an act was passed by Congress restoring the motto
“In God we trust” on the coins of the United States, to take effect
thirty days after its passage. The motto appears on all gold and
silver corns struck since July 1, 1908, with the exception of tho dime.
AN ACT Providing lor ^ jSfffjSfJSs^ SftSB
Be it matted bo the Senate and Houee o f Representatives of the United States of America
in Conoress assembl'd, That tho motto "In God we trust," heretofore inscribed on
eertain^<tenominationa of the gold and silver coins of the United Slaton of America,
Sdf hereafter be inscribed upon all nuch gold and silver coins of said denomination*
thin Act nhall take effect thirty days after it* approval by the Prenident.
Approved, May 18, 1908.
10
REPORT DIRECTOR OF MINT.
ASSAY OFFICE AT SALT LAKE CITY.
act.wa.s Passed by Congress May 30, 190S, providing
for the establishment of an assay office at Salt Lake City, Utah :
AN ACT To establish an assay office at Salt Lake City, State of Utah
“An A^iriT ofhc« to **? ““ducted ““d" the provisions of the Act entitled
contingent expense *' c'erk- and waSea of workmen, rent, and
Approved, May 30, 1908.
early in January, 1909. e open to the receipt of bullion
USE OF CUPRIC CHLOBTOE INTOUOHENLVO BRITTLE INGOT MELTS
AT THE MINT, PHILADELPHIA.
del^SVavld K 'Tutrtlehphlelrr,anlJ refiner of tho mint Pliila-
•chlorido which shows an wLv,'.’ V* report on the use of cupric
toughening brittle melts of standa^IJdA^ii6^^? aPPb<'atiou in
tage is that a brittle ir^o ^ld buJhon One great advan-
cupnc chloride most expeditiously and^rithoT .b° troatf‘ti1 "ith tho
the proportion of the allov to ?h!fnr • 4 dan*?er of destroying
when it unites with and carries off t III me , The chlorine
for tlte brittleness, leaves its former associate °SOtne base responsible
base metal. r “sociate, copper, in place of the
UNITED STATES GOLD COIN IN CANADA.
1907,e$5S^889fintUnitedaStete ,°f hold on December 31
by the chartered hanks on ttre H whilf the amount helJ
the total amount of United i^te ^ras, *12>244,213, making
*- ”'299'8"' inais a “.i/s
deposits of gold UTTT T Y/\»r
offices of the
of redeposits
>654 reported the
REPORT DIRECTOR OF MINT.
11
Redeposits which consisted of bullion transferred from one office
of the service to the other, or bars bearing the stamp of one of the
offices of the service deposited or sold to another office, amounted to
$119,214,058.
The total gold bullion and gold coin received, including redeposits,
contained 17,556,365 standard ounces of the value of $326,630,042.
The deposits of domestic bullion amounted to 6,005,804 standard
ounces, or which 2,201,114 standard ounces were in crude condition
direct from the mines operating in the different States; 668,016
standard ounces of refiner}' bars (less than 0.992 in fineness) and
3,136,673 standard ounces of refined bullion (0.992 in fineness and
over) were received from private refineries, bromide, chlorination,
and cyanide wTorks.
UN CURRENT DOMESTIC GOLD COIN rOR RECOINAGE
Uncurrent and mutilated gold coin received for recoinage con¬
tained 214,450.317 standard ounces of the coining value in new coin
of $3,989,772.90. Of this amount 71,363.207 standard ounces were
received over the counter and 143,087.110 standard ounces were
received on transfer orders from the Treasury. The loss on this
coinage w as $30,895.60.
DEPOSITS OP FOREIGN GOLD BULLION AND GOLD COIN.
Foreign gold bullion containing 3,857,871 standard ounces of the
value of $71,774,351, and foreign gold coin containing 735,538
standard ounces of the value of $13,684,426 were received from
various countries as follows:
British Columbia....
Northwest Territory
Ontario and Quebec.
Nova Scotia .
Mexico.
Cuba .
Santo Domingo .
Costa Rica... .
Nicaragua . .
Honduras .
Guatemala. .
Central America, un¬
known . .
Colombia . .
Brazil .
Peru .
Venezuela .
South America, un¬
known .
Dutch Gutana .
Greet Britain .
Germany .
France . .
Spain .
Korea .
Russia .
China _
Sweden . . .
Unclassified .
Total..
Standard
ounces.
09,609,344
82,936,246
6,283,0110
11,419,477
87,613,499
2,220,814
81,381
4, 138,. VI
36,177,063
327,877
957,044
*1,290,173.84
1,542,999.93
116,905.86
212,455.88
1,630,018.58
41.317.47
1,514.06
76,995. 36
673,061 67
6,100.04
17.805. 47
27,126,098 504,671.5®
90,500,530 1,683,730.79
8,740 162.60
118,018
17,228,245
26,056
31,156,105
2,153,400
2,146
320,525. 49
484.76
579,048. 47
40,003.55
2,232
59^79' |
41.53
' ‘i ‘ii*.oo
Refined bullion.
13,615, 178 *253,305.64
Standard
ounoes.
241,530
13,381
4,493 59
24S.94 ] 2,908,013 | *54,103.12
3,330,565,290 01,964,005.39
1,810,428 33,682.38
41,357,770 709,446.89
470,206,487 I 8,748,027.58 3, 3S7, 664,874 63,026,323.23
1,719 i
137,027
120,352
97,124 |
31 98
2,549.34
2,239. 11
1,806.96
58,394 1,086.40
1,15®
423,305.905
159,350,825
87,425,896
2,287,844
41,189,670
21.56
7,875,458.70
2,964,006 SO
l.GJt ,so
42,564.54
706,319.44
958,934 17,840.63
17,335,550 322,521 86
735,537,923 13,684,426.46
12
REPORT DIRECTOR OF MINT,
DEPO8IT8 OF JEWELERS’ BARS.
Jewelers’ bars and old plate containing 333,190 standard ounces
of the value of $6,198,890 were received.
REDEPOSITS OP GOLD BULLION.
The redeposits contained 6,407,756 standard ounces of the value
of $119,214,058 as follows:
Bars manufactured at—
Philadelphia. .
New York....
SL Louis .
Total.
Kino bars deposited at—
Philadelphia.
Standard or.
US- 752
3,01.047.143
.'1,421.254
3,415. 437.140
Mint bare de-
sited at
_ odalphUL
Standard or. Standard oz.
20.933
900,375.514
20.933 900,375.514
Bars manufactured
at—
Un parted iiare depuaitad at—
Philadelphia.
69°£ZT *Neir York. Helena. Seattle.
. .
Total
un parted.
New Orleans . ..
Denver .
New York .
Canon .
Hois*.
Stenrf. os.
1,134.574
820,401.* 813
4ti,2S9.*243
W, 717.070
1 1 , 850. 368
10,441.355
61,612. 404
Stand, or j Stand, or
. 14. »72*
Stand, us.
Stand, or.
Stand, os.
1, 134. 574
14.072
829,401.813
80,011.801
40, 422 522
00.835. 440
11,850. 368
10, 441. 355
01,611 404
933. 187.770
8Mii.au ....
1 1 1’!*: i
Charlotte .
St. Louis .
Dead wood .
1,117.470
3.»5
Total .
1,050, 45ft. 727
1,022, 196.215 ! 14&251
1.117.470
3.365
2,082,922.028
deposits and purchases of silver.
Deposit^o^ril^xV bullion4 °'\ S.ovcrnment account only,
offices to be returned to the doiwwit^'0^^ l^e Inints am* assav
the weight and fmene^ t W m finLor bars with
lined almost exclusively to tin? tlKreon These deposits are con-
S5.l2«taS“
Item.
Silver purchased..
deposin'.;.;;'
ftsfcr ,or «—*••••.
For Philippine coinage.!.*.;; .
Standard
ounces.
Total . . .
REPORT DIRECTOR OF MINT.
13
Included in silver “for Philippine coinage ” is 9,851,801.76 standard
ounces Philippine silver coin received for recoinage at a reduced
fineness.
UNCURRENT DOMESTIC SILVER COINS FOR RECOINAGE.
Uncurrent and mutilated domestic silver coins received for recoinage
contained 873,428.65 standard ounces of the value of SI, 086, 691. 94
in new subsidiary coin. The net loss on this recoinage was $76,290. 12.
DEPOSITS OF FOREIGN SILVER BULLION AND SILVER COIN.
Foreign silver bullion containing 3,292,665 standard ounces of the
coining value of $3,831,465 and foreign silver coin containing 149,972
standard ounces of the value of $174,512 were received from various
countries as follows:
Source.
Crude bullion.
Refined bullion.
Coin.
Standard
ounces.
Coining
value.
Standard
ounces.
Coining
value.
Standard
ounces.
Coining
value.
British Columbia .
15,245.06
19,912. 41
15,385.50
1,068. 86
2,777,397.21
263.88
4.55
*17,739.70
23, 17a 80
17,903.11
1,243.76
3, 231, 88a 39
307.06
529
Northwest Territory .
Ontario and Quebec .
Nova Scotia .
Mexico .
344,901.00
*401,339.35
33,313.80
2,934.57
*38,76514
3,414 77
Cuba .
Santo Domingo .
Hayti .
24,135 07
28,075 62
Costa Rica .
7,18a 10
21,062.09
61.32
74.55
48,698.73
33,451.17
.GO
7.45
7,942.01
2.65
8,355 02
24,509.31
71.35
88.75
66,667.60
38,925 00
.09
8.06
9,241.78
3.08
N icaragua .
Honduras .
Guatemala .
55,77a 16
19,022.51
64,896.19
22,135 28
Central America, unknown.
Colombia .
Brazil .
. 1
Venezuela .
South America, unknown..
Dutch Guiana .
3,302.00
3,842.33
Spain .
289.54
335 92
Korea .
.77
.31
4.67
.90
.36
5 44
China .
100.94
11,107.91
117.45
12,925 58
Unknown .
Total .
2,947,764.49
3,430,12505
344,901.00
401,339.35
149,971.50
174,512.28
Jeweler’s bars and old plate containing 693,676 standard ounces
were deposited.
BEDKPOSIT8 OF SILVER BULLION.
The redeposits of silver contained 3,298,432 standard ounces, as
follows:
Bars manufactured at—
Fine bars deposited at—
Mint bare
deposited at
Philadelphia.
Philadelphia JsanFrenclaoo. New York.
Philadelphia - -
Sid. on. Std. on. Sid. oei.
2,039.51 .
Std. ozt.
Rftn Francisco ....
. 490,492.52 .
New York .
. 85,475 71
68,87418
Total
2,039.51 490.492.S2 85,47571
68,874 IS
14
REPORT DIRECTOR OF MINT.
Description.
Gold.
Silver.
Standard
eosM.
Coinage
nine.
Standard
ounces.
Coinage
value.
Domestic bullion:
Unrefined .
ass.1^. .
2,301,114.213
686,016. 1U
3.136.673.2*4
*40.050,058.77
12,428,306.73
58.356.712.25
W7.80S.20
W9.276.73
16,007. 976. 87
*1,161.082.31
1,046,431.10
18,627.464.00
Total domestic.
United 8 tales coin:
Received otct counter
Received from Treasury .
phlu'p^S.7SS? OTCT • •
6,003.803.610
71.363.207
143,067.110
111,733,877.77
1.327.687.13
2,662,085.77
17,005.038.80
3.889.69
87a 416 . 29
122.67
3.790.20
0,831,801.76
2,047.764.49
344,901.00
149.971.30
693,675.05
1,075.49
26.233.06
20,834,977.41
3,382.34
1,012, MS. 00
142.74
4,410.42
11,463.914.77
3, 430, 126. 05
401.339.35
174,512.28
807,186.54
1.251. 46
29.388. 75
Unrefined .
Refined abroad
Foreicn coin ... .
Jewelers' bare, old niate. etc .
Deposit md ting-room grains
Surplus bullion
Total deDMiu
470.306.4K7
3,387.064.874
733.3r.K3
333. 190.337
1.065.656
680.132
8,748,027.38
63,026,323.23
13,684,426.46
6, 108.890. 17
19, 82ft. 15
12,840.07
.
Redeposits:
Fine bare _
Unparled ban. . .
Mint ban. .
Total red epos! ta.
11.148.600.376
307.413,084.23
32.796,723.80
38. 163. 4G0.31
3,413.458.082
909.X73.514
2, 0K>. 922. 03
63,343,406.17 578.002 74
!$• Si8, 61 21 21.8, 203. 13
3S, 732, 037. 73 2. 226. 57
672,383.00
80.144.50
3, 085, 446. 37
Grand total.
ngPAnwm P _ w*
6,407.733.624
17,356,363.000 j
119.2M.CC6. n .3.298.432,44
336,630,042.44 36,005,136.24
3,838,175.87
42, 001, 636. 18
nE^^GQLQ at LWD Wa MlXTO ~ —
Fiscal
year
coded
June 30 —
1R73 .
1874 .
1873.. ..
1876 .
1877 .
1878 .
1879.. .
1880. . .
Character of gold deposited.
Total.
Domestic
bullion.
Domestic
coin.
Foreign
bullion.
Foreign coin.
Jewelers’
bare old
Plate, etc.
29.736. 387. 82
£.286,124.62
37. M0.529. 39
«. 478,103. 93
48.073, 123. 76
£.549.705 ®
33,821.705.40
35. 813, 036.66
*27 , 116,948.27
6.275.367.29
1.714.311.30
417,947.15
447.339.68
301.021.79
196,063.17
200, 328. K2
44a 776. 97
*426.107. 44
3,162,519.92
739,439.66
1.141. 90S. 76
1.931.163.12
2. 068, 679. 03
1,«9.796 89
21.20a997.23
37,771,472.26
*518,342.14
9,313,882.47
1.111.792,26
2.111. 0K3. SO
2.003,20a 73
1,316,461.09
1.4K.R19.71
5X426.359.63
85,462,385.74
*774.218.25
654.353.56
724.625,96
<*1.819.32
837. 91 1.25
907.932.20
937.751.14
1.176.506.77
1,343.430.9*
*57.704.385 88
49.142,311.06
38, 55a 293. 90
41.943.2SS.42
48,787.778.71
32.600.217,®
42,254.15 am
98,835,006.85
130, 833, 102. 45
REPORT DIRECTOR OF MINT. 15
Deposits op Gold at United States Mints and Assay Offices since 1873 — Con.
Fiscal
year
ended
June 30—
Character of gold deposited.
Total.
Domestic
bullion.
Domestic
coin.
Foreign
bullion.
Foreign coin.
Jewelers’
bars, old
plate, etc.
1882 .
1883 .
1884 .
im .
188(5 .
1887 .
1888 .
1889 .
1800 .
1891 .
1892 .
1*3 .
1894 .
1895 .
1896 .
1*7 .
1898 .
1*9 .
1900 .
1901 .
1902 .
1903 .
1904 .
1905 .
1906 .
1907 .
1908 .
Total .
$31,298,511.97
32,481,642 38
29,079,596.33
31,584,436.64
32, 456, 493. 64
32,973.027.41
32, 406. 306. 50
31.440,778 93
30,474,900 25
31.555. 116.85
31.961.540.11
33,286,167 94
38,696.951 40
44,371,949.83
53.910,957.02
60.018,239.77
69, SSI. 120.57
76,252, 487.23
87, 458, 830 23
92.929.695.86
94, 622, 078. 3>
90.514.298.12
S7, 745, 626. 03
101,618, 315 38
103,838,26* 01
114,217,462. 44
111,735.877 77
$599,356.80
374,129.23
263, 117. 17
325,210.97
393,545.28
616,984 63
492, 512. 60
585,066 87
655, 474. 96
553,847.16
557.967.80
792.470 43
2,093,615.46
1, 1*8, 258.21
1,670,005.53
1.U15.3I4 39
1,187.682 99
1,158.307 57
1,389.096 68
1,116,179.86
1, 488.44S 16
900,907.95
2,159,818. 57
3,404,966 63
1.514,291 19
2.754,283 29
3,989,772 90
$12,783,807 04
4,727,143.22
6,023,734.45
11,221,846.45
4,317,068.27
22,571,328.70
21,741,042 44
2, 136,516. 66
2,691,932 29
4,054,822.86
10,935, 154.69
2.247,730 78
15,614,118.19
14, 108,435 74
6,572.390.14
9,371,521.03
20,477,370.06
30,336.5.59.47
22,720,150.22
27,1*. 659. 12
18, 189,416.90
10.331.058.92
36,802,224.39
17,645,526 82
36,317.864.38
36.656,545.85
71 774.350.81
$20,304,810.78
6,906.083.80
9,095,461.45
7,893,217.77
5, 673, 565. 04
9.896.512.28
14.596.885.03
4. 447, 475 99
5,298,773 93
8,256,303 80
14,040, 187.70
6.293,296.33
12.3S6.406.81
2,278,614.07
3,227, 409.06
13.188,013.86
47,210,077.84
32,785,152 48
18,834,495 53
27,906,489 13
13,996, 162.21
8.9.50.595.28
46. 152.7S3.S7
15,141,678.08
6,648,511.63
17,221,251.40
13,684, 426.46
$1,770, 166.36
1.858.107.42
1,864,769.26
1.869.363.20
2,069,077.00
2,265, 219 85
2, 9S8, 750 90
3.526.597. 31
3.542,013 S3
4,035, 710 15
3,636,603.68
3,830,176.02
3,118,421.45
3.213.809.43
3,388,622 06
2,810,248.66
2, 93(>,943.37
2,964,683.90
3,517,540.93
3.959.656.64
4,284,724.22
4. 247.582.64
4,892,930.88
5.568,482.95
4.790.558.31
5,731,111.55
6,231,547. 01
$6'--, 756, 652. 95
46,347, 106.05
46,326,678.66
52, *4, 075. 09
44.909. 749.23
68,223.072 87
72,225,497 56
42,136,435.76
42,663.095 28
48, 485, 800. 82
61,131,460 04
46,449.841.50
71,909,513.31
65, 161,067 28
68,760.383.81
87,003,337.71
147,693,194 S3
143,497,190.65
133,920,119.59
153. 101,680 61
132.580,829.88
127.004,442.91
177,753, 384.34
1 43, 378, 969. 86
153,109, 493.52
176,580,054.53
207,415,974.95
1,947,611,976.73
70,351,757.98
561,071,401.22
506, 167,429.18
102,951,967.42
3,188, 154,532.53
Deposits of Silver at United States Mints and Assay Offices since 1885.
Fiscal year
ended Juno 30—
Character of sliver deposited.
Domestic
bullion.
Domestic
coin.
Foreign
bullion.
Foreign
coin.
Jewelers’
bars, old
plate, etc.
Total.
Fine ounces.
Fine ounces.
Fine ounces.
Fine ounces.
Fine ounces.
Fine ounces.
1885 .
24,943,394
678,741
1,627,619
867,856
336,981
28,454,591
1886 .
25, 101,639
210,015
1,145,017
028,545
361,316
27,452,532
1887 .
29,293,372
5, 848, 5S5
1,127,213
271, 1G6
396,656
36,936,992
1888 .
28,921,(39
1, 202,177
1,200,390
67,549
485,190
31,966,955
1880 .
29,006,387
394,346
1,063,900
328,276
502.223
31, *5, 132
1890..
29, 187* 135
466,302
1,852,155
951,162
526,270
32,983,024
1891”. . .
50,667, HO
637,652
1,767.909
1,970,912
633,073
55,676,061
1892 .
56,817,648
5 036,246
1,556,018
349.652
572,661
64,332,725
1803 .
56, 976, 082
5,346,912
1,738,711
505,171
582,728
65,149,604
1894.
15,296,815
5,012,000
994,901
422,725
467,958
22, 194, 459
1895... .
0,809,026
3,015,905
1,302,141
15,291
580, 125
11,783,088
1806 .
4,420,770
3, 170, 70S
080.757
150.942
604,386
9,027,623
1897 .
3,914,985
2,208 953
626,085
101,157
473,755
7.324,93o
1898 .
2,116,090
1,243,050
209,087
6,808
249, 468
3,826,003
1899. .
5,584,912
6,060,9%
716,077
19,382
484,751
12,860, 108
1900 .
4,977,978
3,587,992
1, OSS. 019
44,794
557,831
10,256,524
1901 .
2,406,749
2,613,570
1,306,149
4,250,196
567,647
11,204,311
1902 .
1,425,000
2,275,090
1,152.023
29,265
575,430
5,456,868
1903 .
12,523,030
<>2,511,911
1,110, 463
21.869
627, 108
16,794,081
1904 .
9,991,167
62,072,397
1,361,701
c 4, 039. 100
652,016
18,116.400
1905 .
4,923,655
*1. 337, 242
1,906,410
* 7, 796, 761
739,310
16,703,378
1906. .
2,398,871
/ 960. 801
3,165.170
9 1,348,991
632,544
8,500,377
1907 .
20,388,163
770,200
2,552,003
*4,963.403
636,722
29,310,560
1903 .
16,114,553
780,085
2,963,399
<9,005,007
648,007
29.517,051
Total .
444,867,966
67,454,055
34,364,816
3S, 155, 890
12,894,155
587, 736,882
« Includes 461,686 fine ounces Hawaiian coin,
o Includes 148,788 line ounces Hawaiian coin.
t Inrludcs (>.901 fine ounces Philippine special assay coins.
d Includes 8,647 lino ounces Hawaiian coin.
« Includes 3, 4156 lino ounces Philippine special assay coins.
/ Includes 3,8*ir» fine ounces Hawaiian coin.
P Includes 2,6(53 fine ounces Philippine special assay coins.
h Includes 4,080,701 fine ounces Philippine coins
i Includes 3,411 Huo ounces Philippine assay coins and 8,806, G22 fine ounces Philippine coins lor rccoinage.
16
BEPOBT D1BECTOB OF MINT.
COINAGE OF THE UNITED STATES, FISCAL YEAK 1908.
The domestic coinage was as follows:
Denomination.
Pieces.
Value.
Gold .
in CKA
Silver, subsidiary .
AQ 1AA fUZ?
377. 50
1A con A-**? a»
Nickels, 5-cent pieces .
vW, lUOtUD>)
09 fiUi\ rgy)
10^axJ,477.2>
1 lOi 7fV\ 1 A
Bronze, 1-cent pieces .
y UOU , l AJ*
Ul 17ft oio
1) 1u49«jU0. 10
Total. .
4 \Jp o IZ
811,706. 12
184,007,755
215,714,862.97
Of the subsidiary coinage made during the year, $832 414 were
from tmciirrent domestic com received from the Treasury for recoinaee
and 815,698,063.25 from silver bullion purchased under'the provisions
of section 3526 of the Revised Statutes. provisions
RECOINAGE OP STANDARD 8ILVER DOLLARS.
rhere were purchased as bullion and melted at the mints and assav
offices 1,170 mutilated silver dollars during the fiscal year 1908
which were for use m the manufacture of subsidiary silver W
Fiscal year.
Amount.
Fiscal year.
Amount.
1883 .
1884 . .
S621
1897 . .
$1,898
1,365
1,734
1,341
1,786
1,893
1,777
1,304
2,298
909
1,548
1,170
1886 . . .
1809 . .
1888 . .
8,292
14,055
31,042
11,977
10,800
42,881
10,500
15,055
18,580
2,034
1901 . .
1889 . .
1902 . .
i89o . .
1903 . .
1891 . .
1904.. . .
1892 . . .
1905 . .
1893 . .
1906 . .
1894 . .
1907 . .
1895 . .
1908 . . .
1896 . .
■ - - - 1
Total .
186,710
- UNCURRENT UNITED STATES COIN
tr.™f “dWS “chtTd’/o1? is coin
made therefrom, and the loss since 189^' ^ amount of new coin
Fiscal year.
Face value.
Value of new
coin produced.
Loss.
1801 .
1892 .
18G3 .
1804 .
1805 .
1890 .
1897 .
1H9S .
1899 .
$910,046.60
7,118,602.78
;,618, 198.25
7, 184, 472. 17
4,361, 761.36
4,627, 141. 46
3, 197.998.50
6, 109, 772. 32
$861,680. 41
6,937,886.02
7,381,280.58
6,924. 753.05
4, 161,820.73
4,377, 258.40
3,048,861.64
5,830. 159. 16
$48,366.28
180, 716.76
236, 90S. 67
250, 719. 12
199, 94a 63
249, S83. 06
149, 136.86
289,613 16
1902. ..
1903. ..
1904 .
1905. .
1900.. ..
1907.. ..
1908.
Total
i . .
8,584,304. 26
5, 261, 010.35
3,832,280 09
3,333, 437.06
3. OK, 747. 98
2.828,384.90
1,964, 476.11
1*414, 903. 90
1.142, 184.00
1.162.9S2.06
73,660,824.84
8,098, 485. 18
4,950, 088.96
3,613,021.59
3,141,548.04
2,829,890.71
2,656,104.21
1,839, 219.24
1,322.834.27
1,064,826.39
1,066,691.94
70,116,419.52
485^ S19. 08
310, 9S1 39
219,259 10
191,880 U2
178,857.27
172, 280. t«
125,256.87
92,129.63
77,357.61
76,290. 12
3,544.405.32
REPORT DIRECTOR OP MINT.
17
The loss on the reooinage of $4,020,668.50 in worn and uncurront
gold coins was $30,895.61, and the net loss on the reooinage of
Si 162,982.06 in worn and uncurrent silver coins was $76,290.12.
Tho Treasury was reimbursed $0,104.09 loss on uncurront gold coin
transferred and $76,245.05 loss on uncurront silver coin transferred
for reooinage from the appropriations for this purpose.
Co IN AO E OF GOLD AND SILVER OF TIIB UNITED STATES SINCE 1873, IIV FISCAL YEARS.
Gold.
Silver.
Fiscal year.
Finn ounces.
Value.
FI no ounce*
coiuumod.
Dollar* coined.
Subsidiary
col nod.
JR7.1 . .
1,705,187
$35, 240,337.00
2,170,833
#077,150
3,588,000
6,607,500
6,132,050
9,102,999
19,951,510
27,227,500
*7,033,750
27,037,055
91, 008,645 50
ii (ill ?IIV *K1
2, 440, 105
50, 442, ((HO. 00
4, 558, 526
A 1 UJiU (Ml
1875 .
1,023,173
33,553,065.00
7,600,005
ih+i KOn. isl
12,904, 462. 50
III *tW7 in A (IS
1 , 840, 007
38,178,063.00
14,228,851
1877 .
1878 .
2, 132,283
2, 554, 151
44,078, 190.00
52, 708, 080. 00
21,230,880
21,6*3,702
8,339,311.50
3S2. 80
1879. . . .
1,982,742
40,9SO,912. 00
56, 157, 735. 00
21,059,041.
21,011,294
R tlH7 M)
18N0 .
2.710,030
12, OIL 75
1881 . • - •
3, 808, 751
78, 733,864.00
2l,3Si<,920
21,488,148
22,206,171
22,2*0,792
22,206,827
23,211,226
20,525,270
26, .131, 170
26,650, 493
28, 4.19, 91»2
29,498,027
IffcCJ .
4,325,375
80,413, 447.00
27,772,075
28,111,110
lip 813. 75
1883 .
1,738,449
35,930.028 00
(\7 i MI
1884 .
1885 .
1,351,250
1, 202.M7
27,932, 824. 00
24,801, 123.00
28, 099, 930
28,628,552
29,838,005
38,306,831
32,718,073
o#Of idi on
320, 407.05
I W * ii'j 15%
1888 .
1,048.493
34,077,380 00
1 IKK) ikVJ 75
1887 . •
1888 . . •
1,083,275
1, 372,117
22, 393, 270. 00
2*. 304, 171.00
I , uini, iliM •
1,417, 422.25
7 *1 4ks*i if)
1R89 . .
1.235,087
25,543,910 00
33,79.1,800
35,023,810
30,232.892
8, 329, 4(17
6,3+3,715
i « 1 , Pen. in
ixy) rrjn 711
1890 .
1,005,302
22,921,748.00
nu+i Uiu. i ii
2.030, 218*35
IL ,1U1 VII iJ\
1891 .
1,100,330
24,172,203 00
1802 . .
1,717,650
35, 506, 987. 00
11,360,803
9,853, 787
II, IIW, IM 1 .
7 *>17 '/VI <M)
1893 .
1,453,005
30,038,140.00
# t *1 I , W
f r > 1 140 *U)
1894 .
4,812.000
00,474.913.00
4, 858, 209
768
3,050,011
7,500,822
21,203,701
10,002,780
IU <i*« "iMk
U41, 1 71* »n*
A M l JAG (j/l
1895 . •
1890 .
2,125,282
2,8+8.247
43,033, 475.00
58, 878, 400.00
6,810, 106
8,051,384
18,050,(C3
12, 420,924
1 1 d, IIT.I.
3,aW,K10.20
1 1**4 ivr |kK
1807 .
3,465,000
71 . ttlii. 7a'. 00
•*, Jali Wvi. imp
it iv> siit m
1898 .
3,120,712
6,233,071
•, SSL 411
04, (134, 805. ft)
]t«, 177,180.00
107,037, no. 00
l»# • ~ 1. lei
O Aid\ K77 M
i m .
1900 .
20,000,070
23,404,817
26,7211,641
22,756, 781
IK, JM, iWI
18.294.9S4
24,298,860
10, 402, SIX)
17,072, 785
10, 101,660
V, vW, nl 4 . IVl
12,870, 849.15
111 OTi/l |UM M
1001 .
4,792,304
2,998,313
09,065,716.00
III, UV. iw
in 7i‘i /uni a r.
lpfr> .
til , 9W1, 572. 00
1 1”, 4 1 *», »W",i It*
8,023# 751.25
7 710 /u no
pint .
2,211,701
45,721,773.00
19,705, 162
13,390,804
jflfM .
10,091,929
208, tilM, 642 00
4 , 1 IV, adl . W
1) L23 000. 00
1905 .
1000 .
1007 .
3.8(0.211
2.5UV*'"
4.279,701
0 Ml 40(1
70,983.002 00
53,008. 007.50
70, 022, 337. 50
197,238,377.50
0, 000, 008
2.905,340
0,385.454
11,057,734
.
LOiolses! 10
12,074, 634.25
10,530, 477.25
1008 .
Total .
107,354,078
2,210,3.58,729.50
613,848,141
607,259, 120
19S634.387 84
COINAGE FOB PHILIPPINE ISLANDS.
Tho following coinage was made during the fiscal year 1908 for tho
Philippine government :
Denomination.
Mode at
Philadelphia
mint.
Made at
San Fran-
cieoo mint.
Total.
Silver:
Piece*.
601
Plecej r.
16,128,000
PUtta.
16, 128, Ml
2 105 Ml
60 oentavo* .
601
Ml
2!73.'»l000
4,033,911
2l785|Ml
4,034,412
501
Nickel:
600
500
Bronte:
600
500
500
500
3, 501
1 25,001,911
25,005,415
-
64472—08 - 2
18
REPORT DIRECTOR OF MINT.
The total coinage made for the Philippine government, under
authority of the act of March 2, 1903, to June 30, 1908, is as follows:
Denomination.
Made at
Philadelphia
mint.
Made at
San Fran¬
cisco mint.
Total.
Silver:
Pam .
Pieces.
2 806 R59
Pfccei.
Piece*.
50 centavos _
45,890,000
48,696,850
20 centavos. ...
4,317,644
6 AIK cm
6,125,000
10,442,644
13,243,840
10 centavos .
U)Ul'^y04U
6,625,000
12,793,911
Nickel:
5 centavos _
6,618,839
10,000,384
37,845,784
17,753,384
19,412,750
Bronte:
1 centavo .
J centavo.. .
10,000,384
t
37,845,784
17,753,384
. . 85,061,734
71,433,911
157,395,645
- -
RECOINAGE OK PHILIPPINE COINS.
rfSSfcftiM weihTffi
,nbtS - A* recoinago up t<f June *30^
Denomination.
Pieces.
Standard
ounces.
Peso .
50 centavos .
20 centavos .
15,128.000
2,850,000
2.215,000
3,690,000
310
23,883.310
13,106,334.90
1,233,414. 16
382,404.85
318,665.89
78 15
15,042,897.95
Mixed Philippine coins _
Total .
- — *i«**iss B OF PHILIPPINE COINS.
under thoVut e^Marrh'^^id ^nd^f flvw. coins authorized
n«» authorized J £ Jit ““ ^
Denomination.
Peso .
60 centavos .....
20 centavos .
10 centavos
Act of Man
ch 2, 1903.
Act of June 23, 1906.
Weight in
{Trains.
Fineness.
Weight in
{Trains.
Fineness.
416.00
20s. 00
83. 10
41.55
900
900
900
900 j
308.640
154.320
61.728
30.864
800
750
750
750
^ WIAAU1S ™R MEXICO.
Mexican GovemmentT,397^ siJvws^^taro pieces' °°8’ f°r th
^coinage ^awahak silvSTcoT8
nfr Sm 2lw"Jota!; Je^Ur/ to d^' for the purpos
•her, ™f . subsidiary ziC ”£S
REPORT DIRECTOR OF MINT.
19
BARS MANUFACTURED.
During the fiscal year 1908 there wore* manufactured by the mints
and assay offices of the United States gold and silver liars of the value
as follows :
Description.
Standard
ounce*.
Value.
Oold bare .
Silver bare .
8,740,826. 020
8,041,325.040
*102,020,332.05
0,367,170. 23
Total .
171,077,631.03
WORK OF THE GOVERNMENT REFINERIES.
There were received and operated upon by the refineries connected
with the mints at Philadelphia, San Francisco, New Orleans, and
Denver, during the fiscal year 1908, gold anti silver bullion as shown
by the following tabic:
Gold.
Silver.
Iuatltutlon.
Standard
ounce*
Value.
Standard
ounce*.
Coining value.
Philadelphia . . .
Han Franrisco,
Now Orleans
Dsnvsra
New York i> .
2,405,468.301
1,073,401.250
3.5,147. 107
1,387,352.785
*45,808,889.74
10,971,030. 22
051,001 . 34
28,811,214.00
3,108,005.55
217,018. m
81,205.97
1,816,422.81
*3,721,420.27
275,803 70
04,. ’>04. 04
1,880,028 13
Total . .
4,001,444.503
02.3a5.04.5 00
5, 132,802.00
5,072,710.20
HII.VKU BULLION ON WHICH CHARGES Y\ KKE COLLECTED.
In order to show the amount of the above-mentioned silver bullion
treated by the government refineries on which charges were received
and the amount handled for parting purposes, the following table is
presented :
Institution.
Silver bullion
on which
charges were
collec UmI.
Silver bullion
owned by tin*
Government
retained by the
refinery for
purling pur*
poses on which
thorn were no
charges.
Total.
Standard oi
Standard or.
Standard or.
Philadelphia. . .
2,616,278. 62
682,817.03
8,198,008.48
Ban Frnncbco ... .
227,637.34
0,481.62
237,018 80
New Orloona. . .
21,427.33
80,838.04
81,205.97
Denver u
004,330. 17
1,000,027.00
1,011,200.83
New Y’orkft
Total .
3,408,682 30
1,689,004 85
6,127,047. 21
a For period April 1, 1007, to Junn 30, 1008.
ft lteAnery operation* suspended during reconstruction of building.
20
REPORT DIRECTOR OF MIUT.
PURCHASE OF SILVER.
The table following shows the amount and cost of silver bullion
purchased for the subsidiary silver coinage during the fiscal year 1908:
Stock.
Standard
ounces.
Cost.
vaiM *'«**> s*,.
U O to 007 Or
*7,999,85187
273,497. tiO
1,632,306.82
2,241.25
1,170.69
13,947. 77
SXr^&UrChafiCd Und*r-BOtk® United States Revised Stat-'
Parting charges and fract ions’ purchased
Molted assay coins purchased . .
Mutilated coins purchased .
Total .
lOjACjjy/, 05
525,126.55
3,012,532.35
3,819.70
2,23430
25,503.40
9,923,020.00
Institution.
Mint ut 1'lillodelphla .
Mint it Kan Francisco
Mint at Nmr Orleans
Mint at Denver .
Assay office at New York. . !
Total .
Standard
ounces.
4,000,213.37
3,065.31438
4.4S5.579.91
4.367, 265.89
2,237,139.95
IX, 821, 51 4. 50
Coat.
*2,433,580.05
1,612,864.04
2,412,158.07
2,277,4©. 25
1,108, 900.09
9,923.030.00
mouar ?o» ASI> foe Run-
tuebefeo., vv, t;.v;, vstm** .
Sources from which
bullion was obtained.
Obtained by transfer
and purchase
Standard
ounce*.
Coat.
MINT AT nilUUiELMlU.
SUver bullion on baud
..July 1.1907 .
4 171 Kvv mi
R,M4, 80ft.»
927,730.01.
"l03 Iran*,
icrrt'd from Treasury .
Apount silver purchase*
hulllon transferred
from New York oss.iv
oflloe.... *
745.0C3.0G
Amount silver pur-’
u?dor *°ct<on
svaafsaa
199,834 84
114,455.01
Amount silver p^’
2£ta,Unltal suira,
2, 109, 732. 07
1.07(1, &CL 35
Krv"‘MPur-
205, 220. 24
2,345,480.25
3, SOL 12
102, 419. 27j
1.271,31422
"SUSS4 “^" pur:
2.222.07,
1,948 84
23.95
1,028.94
Total
11.50
®. 74.4,30a 65
0.340,67416;"'
I acd in coinage.
Coat
Strut (lard
ounce*.
M2.3Ui.75
Coinage. Seigniorage.
*737,000.00
*737,000.00
2, 970,228.501, 724,142. 40
4,432,403.25
3,605,463.2511,971,330.85
1,971,320.85
REPOBT DIRECTOR OF MINT.
23
QuunnY and Cost op Silver Obtained by Transfer and Purchase for Sub¬
sidiary Silver Coinage, Amount and Cost Ubed in Coinage. Coinage Derived
Therefrom, and Seigniorage on Same during the Fiscal Year 1908 — Cont’d.
Sources from which
bullion wss obtained.
scmmaey.
Silver bullion on hand
July 1, 1907 .
Uncurrcnt coins trans¬
ferred from Treasury . .
SO vex bullion purchas'd
under section 3526. Re¬
vised Statute of the
United States, by
Treasure Department.
Silver bullion purchased
under section 352ft, Re¬
vis'd Statutes of the
United State?, at mint.
Silver purchase bullion
transferred from New
York assay office to
Philadelphia mint _
Partins, charp^. and
fractions purchased . .
If el tod assay coins pur¬
chased .
Mutilated coins pur¬
chased .
Surplus bullion pur¬
chased .
Total .
Assay coins transferred
to Philadelphia mint.
Used in coinage, Qseai
year 1907.. .
Subsidiary silver pur¬
chase bullion trans¬
ferred from New York
assay office to Phila¬
delphia mint .
Subsidiary silver pur¬
chase bullion trans¬
ferred from mint at
New Orleans to Phila¬
delphia mint.
Sold in sweeps .
Wasted by operative
officers .
Balance on hand June
JO, 1908 .
Total .
Obtained by transfer
and purchase.
15,252,297 0.' 7.WQ.NSA87
870,416.29
Coat.!
6,39»1,0G2 22 *4, 287,505. 80
1,082,944. 06 089,052.74
525,126.55
273,487 00
199,835.84
114,455.61
3,012,532.35
1, *32, 306 K2
3,818.70
2,241.25
2,235.36
1, 176.69
25,500.48
13,947.77
36,287,82*. 85)15, 407,931 .47 13,230,37109
1,9*4 3T
13,290,371.0 7,817 00.90
2.381,024.39 1,297,947.35
94 25
18,912. 61
l-acd In coinage.
- Coinage.
*832,414.00 *832,414 00.
6,984,648. 90
7,817, Ota SO 10.530,477.25
20,403. 10 10,
J, 576.793. 44 6,200.:
T*T C->6 k.A 1 H AU7 l
51.
10,765 42
10.774 84 .
3S4 29
25, 287 . 828. 85 15 , 407, 901. 47( .
15,008,063.25*8,713,413.35
BALANCES OF SILVER BULLION.
The balances of silver bullion on hand June 30, 1908, at the
mints and assay offices of the United States for the coinage of
subsidiary silver coins and also for coinage for the Philippine Is¬
lands were as follows:
Item.
Standard
ounces.
Goat.
For subsidiary silver coinage .
Silrrmr 1 .nllu.ti 1'hillTminft ColnoTe ...
. 4 .
10,507,364.48
2. 186,068.
*6.278.891.53
1,700,108.85
Total .
. 12,783.43404
7,979,000.38
24
REPORT DIRECTOR OF MINT.
MARKET PRICE OF SILVER DURING THE FISCAL YEAR 190S.
During the twelve months ending June 30, 190S, the price of
silver in the London market varied from 32 Jd. per ounce for silver
0.925 fine, equivalent to $0.7009+ per ounce fine, to 24 }d., equiv¬
alent to $0.5274+ per oimce fine. For the first throe months
of the year the price was comparatively steady, but commencing
with October the price declined rapidly. The decline was in a
great measure duo to the small amount' of rain that had fallen in
somo parts of India, leading to the fear of a failure of the crops
and, m consequence thereof, a famine. This led the bazaars of
India, who deal very largely in silver, to make heavy sales in the
London market. Aside from these forced sales by the Lidia ba¬
zaars there was little demand from any quarter for silver.
For the last six months of the liscaf}^ the London
from 27d. to 2411fd. The following 'table exhibits
fluctuations in the price and the valuo of a fine ounce
the twelve months ending Juno 30, 1908:
price ranged
the monthly
of silver for
Highest, Lo^e^* an|J Avehao* Price of Silver Hu luon and Value or a Fine
1907.
July .
August .
September
October .
November. . . .
December. .. .
„ 1008.
January .
February .
March .
Juno .
Average . .
B. sr
Low¬
est.
Average
price i«r
ounce,
British
standard.
0.825.
Pence.
Pence.
Pence.
SU|
31
3L 3657
31. 0(05
31 A
31*
31.2725
9
28.8634
27. 1538
36.2450
27
24*
25.7283
25. SiWiO
25.5007
25. 1328
34||
24. 3380
25|
24)
24.7000
27.3313
Equivalent
value of a
fine ounce
with
exchange
at par
(14.8063).
la 687.17
. (10447
GS532
.63272
.50524
.55340
.6G3U9
.5«*»0
.50051
. 55004
.53355
.54271.
monthly
price at
New York
of exchange
on London,
.50013
Equivalent
value of a
fine ounce
ba*Hl on
average
monthly
price and
average rate
of exchange.
H*04
ISMS
1 8578
4. 8537
4. si4«
1S502
4.8020
1 8051
4. 8021
4.8005
4. 8711
48(507
1 8000
.0K518
.03107
.50524
.55300
.50347
.50082
.50001
.55123
.53404
.54270
.50722
Average
monthly
New York
price of
Aim bar
Oliver.
10.68750
. 60415
. 08430
.63111
.50403
.55215
.50274
.50630
.55000
.55120
.53427
.54278
.50071
- - EH DOLLARS.
digtributbn from c^h^^ th°
Items.
Philadelphia.
San Francisco.
Now Orleans.
Total.
? !CSSaoW'm7 .
*100,046, 188
*'1, 400,027
5,000
120,582,125
*107,028,3-10
5,000
Total .
106,046,188
100,850,000
01,405,027
61.401,432
20,582, 125
20,581,825
107,033.340
197,634,157
D££bulod bom mUjta during tho
25,288
3.505
300
00,183
— - — -
— muEAQK ON SILVER COINAGE
June 30, 1907, wm ooillftg0 ot silver on hand in the mints
REPORT DIRECTOR OF MINT.
25
Tlio seigniorage on subsidiary silver coinage during the fiscal vear
ended June 30, 1908, was $8,713,413.35.
Including the balance on hand at the mints July 1, 1878, the net
seigniorage on silver coined from that date to June 30, 1908, aggre¬
gated $151,666,237.81. **
The amount of seigniorage deposited in the Treasury during the
fiscal year was $8,852,842.52, leaving a balance on hand in the mints
on June 30. 1908, of SI 14, 366.16.
APPROPRIATIONS AND EXPENDITURES.
The acts approved February 26, 1907, and February’ 15, 190S, mak¬
ing appropriations for the legislative, executive, and judicial expenses
of the Government for the iiscal year 1908, contained specific appro¬
priations for the support of the mints and assay offices of the United
States amounting to $1,199,570.
The earnings of the mints at Philadelphia, San Francisco, and Den¬
ver collected from the manufacture of coins for foreign countries,
appliances for other institutions, etc., amounting to $235,887.52, were
deposited in the Treasuiy to the credit of the appropriations for
wages of workmen and contingent expenses of the above-named
institutions.
The acts approved Juno 6, 1900, March 3, 1903, April 28, 1904, and
March 3, 1905, contained the following specific appropriations:
New machinery and appliances, mint at Philadelphia . $4-40, 185
Chaises collected and credited to above . 4, G00
New machinery and appliances, mint at Denver . 345,055
Charges collected and credited to the above . 5G0
The expenditures from these appropriations to June 30, 1908,
have been:
Mint at Philadelphia . $433, 550. 44
Mint at Denver . 340, 419. 49
Appropriations and Expenditures for tue Fiscal Year 1908.
APPROPRIATIONS AND EARNINGS.
Institution.
■ - 1
1 Salaries Wages of
workmen.
Contingent
expenses.
Total.
,
Philadelphia . .
Kan Francisco . .
New Orleans. .
Denver . . . . .
Carson . . . . .
Now York . .
943,550 *9408,847. 16
41,100 <301,710.21
27,300 60,800.00
39,100] *157,9*7 53
5,000 4,250.00
41,750 35,000.00
5,450 14,500.00
3,400 8,300.00
2,730 1 1,080.00
3.000 j 1,000 00
3, 900 4,000.00
9.230 1 30,020.00
6*104,507.54
<>111,088.39
30,000.00
/ 68, 646 W
2,000.00
12, 500. 00
4, 000. 00
3, 750.00
920.00
750.00
2,200.00
8,000.00
*010,904. 70
454. 498. 60
127, 100 00
255,734.22
11,850.00
89,250.00
23,950.00
15,450.00
4,750.00
4, 75a 00
9,41X1.00
47,270.00
Helena.
Boise . .
Charlotte .
St. Louis .
Dead wood . .
Seattle . . .
Total .
225,450 1,096,404.90
338,982.02
1,000,907.52
a Includes 92,198.39 lor the manufacture of automatic scales for tho customs service; 177.78 for charges man¬
ufacturing Philippine dies; *14.452.45 for medals for State, War, and Navy Department* and Life-Saving
Service, and for miscellaneous medals; 11,009.54, manufacturing appliances for other offices of mint service;
$107.01 for count mu 1 words for assistant treasurers; 9102.09 for miscellaneous work; *150 for modifying Louisi¬
ana Exposition medals. . _ .. .. .
6 Includes 9704 vj for the manufacture of automatic scales for the customs service; *22 20 tor inanubct urine
Philippine dice; 92.8S1 94 for medals for State. War, and Navy Department* and Life-Saving Service and
for miscellaneous medals; *773. 10. manufarl urtng appliances for other ofTlces of the mint service; 9107 .42 for
counting boards for assistant treasures, *17.93 for miscellaneous [work.
'Includes 9136,499.29 for Coinage for Philippine Islands; *210.92 for boxing some.
i Includes Soo.688.39 for coinage for Philippine Lilands.
' Includes *5,4«J 53 for coinage for tho Government of Mexico; 119 for miscellaneous work.
/Includes U, 645.00 for coinage for tho Uov eminent of Mexico; 91 for miscellaneous work.
26 REPORT DIRECTOR OT MINT.
Appropriations and Expenditures for the Fiscal Year 1908 — Continued.
EXPENDITURES.
Helena. .
Boise. . .
| Salaries.
Wages of
workmen.
Contingent
1 expenses.
Parting and
refining
bullion.
$43,550.00
40,569.18
27,226 10
36,861.11
41,72611
5,393.34
$447,530.48
283,822.26
68,824.44
150,872.14
33.776 99
4.058.00
$103,880.11
98,765.03
29,460.65
49,608 27
11,469.96
1,993 76
$72, 44S. 59
141,767.22
2, 182. 95
70.475.39
30,984.25
5.450.00
13,898 00
3,742.69
3. 400.00
8, 160. 00
2,353.88
2,750 00
1,080 00
755.99
3,000 00
276. 41
515.21
3, 200 00
3,870.00
950. 39
9,218 88
27,920.25
7,346.04
222,344.72
1,044,088.97
310,842.18
317,858.00
Original appropriation .
Earnings during year. .
„ Total available. .
Expenditures .
Total.
$607, 409. 18
564,923.09
127,694. 34
307,817.11
117,957. 31
11,445. 10
23,090
13,913
4,585.
3,791
8,020
44, 485. 17
1,895,134. 47
Philadelphia.
Wages.
$450,000.00
18,847. 16
408,847. 10
447,530.48
21.316 68
2, 409. 52
Contingent.
$100,000 00
4.507.54
104,507.54
98,765.03
5,742 61
1,234.97
San Francisco.
Wages.
$165,000.00
136,710.21
301,710.21
283,700.38
17.949 83
iis, 760. 38
Contingent.
$45,000 00
66,688.39
111,688 39
98,765.03
12,923.36
53,765.03
New Orleans.
Wages. Contingent.
Original anproprlaUon .
Earnings during year. .
Total available
Expenditures . *
$69,800.00
69,800.00
68,824.44
975 56
975 56
$30,006 00
30,000.00
29. 400.65
539.11
539 11
Wages. Contingent
$152,500 00
5,487.53
157,987.53
150,872.14
7,115.39
1,627 86
$55,000.00
3,646 69
58,646 09
49,008. 27
9.038.42
5,391.73
earnings and expenditurf^ rw
MINTS AND assav omcE AT N/w\™«^0™gCOINAOE
““e.uf'T t\° $357>015-32- were
Parting and refining bullion.’’ ^ the appropriation for
iSSSSa!
REPORT DIRECTOR OF MINT.
27
The expenditures on account of “ Parting and refining bullion ”
during the fiscal year aggregated $318,183.10, showing a net gain
of earnings over expenditures of $38,832.22, as shown by the following
table :
Earnings and Expenditures, Partino and Refining Bullion, Fiscal Year, 1908.
Institution.
Charges
collected.
Surplus
bunion.
products.
Total
earnings.
Expendi¬
tures.
Philadelphia .
San Francisco .
New Orleans .
$90,195.11
82, 129. 40
3,400.21
34,632. 46
107,095.77
$3,149.27
8,605,99
2,211.90
14,952.08
877.44
$8,3(12. 22
1,258.17 |
$101,646. GO
91,933.56
5,672.11
49,585.44
108,117.61
$72,448.50
141,767.22
2, 182.95
70,475.59
31,308.75
New York .
Total . .
144.40
317,512.95
1
29,797.58
9,704.79
357,015.32
318,183. 10
APPROPRIATIONS AND EXPENDITURES OF THE OFFICE OF THE DIRECTOR
OF THE MINT FOR THE FISCAL YEAR 1908.
Under the acts of February 26, 1907, February 15, 1908^ and
May 30, 1908, the sum of $39,170 was appropriated for the office of
the Director of the Mint to meet the expenses of the fiscal year 1908.
The expenditures from these appropriations for salaries, super¬
vising the annual settlements at the mints and assay offices, for col¬
lecting and compiling statistics of the production or gold and silver
in the United States, for incidental expenses and the purchase of and
subscription to books and pamphlets and contingent expenses for
the laboratory, aggregated $35,534.84, leaving an unexpended
balance of $3,635.16 to the credit of the appropriations.
In addition to the above appropriations for tne office of the Director
of the Mint, the acts of February 26, 1907, and February 15, 1908,
contained specific appropriations aggregating $125,000 for “Freight
on bullion and coin between mints and assay offices.” The expendi¬
tures from these appropriations for the fiscal year amounted to
$94,504. 19j leaving an unexpended balance to the credit of said
appropriation of $30,495.81.
Appropriation and Expenditures of the Office of the Director of tue Mint
for the Fiscal Year ended June 30, 1908.
Appropriations.
Amount
appropriated.
Amount
expended.
Unexpended
balance.
Salaries . • . . . .
$31,020.00
$28,785.83
5,486.64
271. 41
656.56
334.40
94,504.10
$2,23117
13.36
1,228.59
93.44
65 60
30,495.81
Examination of mints and offices ... .
Mining statistics .
Books, pamphlets, etc . ,• - .
Freighton bullion and coin between mints and assay offices.
Total. . .
5,500.00
1,600 00
75R 00
400.00
125.00a 00
164, 17a 00
130,000.03
34, 13a 97
28 REPORT DIRECTOR OF MINT.
EARNINGS ANI) EXPENDITURES OF TIIE MINTS AND ASSAY OFFICES.
In the appendix a table will be found showing in detail the earnings
and expenditures for the year.
Consolidated Statement of Expenditures for Salaries, Wages, and Supplies
of the Mints and Assay Offices during the Fiscal Year 1908.
It4?ms of expenditure.
Acids. . _
Adjusting weights and repairing b
Advertisements for supplies .
Assayer's balances .
Assaypr's materials, matrasses, pipettes, dishes, etc. .
Barrels and lard tierces .
Belting .
Bullion taxes . . .
Carpets, furniture, and fixtures .
Charcoal . . . .
Chemicals .
Coal . .
Coke.
Copper .
Crucibles, covers, stirrers, and dippers .
Dry goods (cost of materials for mittens, sleeves, coin
sacks, toweling, scale covers, etc.) .
Electric light and supplies .
Electric power .
Ensigns .
Firebrick . .
Fluxes . . .
Freight and drayage . . .
Furnaces and repairs. . .
Gas
Gloves and gauntlets. .
Hardware .
Ice.
Iron and steel
Labor and repairs (only temporary Utar or repair) I ! ! !
Laundering of towels, etc .
Lead, sheet, and lead pipe . .
Loss on sale of sweeps and leady melts
Machinery and appliances. !!!!!!
Metal work and castings
Naphtha .
Oils. .
Rent of building . .
Ordinary ex¬
penses.
Stationery, printing, and binding .
Steam, supply of . .
SUCh iUans “ cau not »* classified ,
Telephone . "!!!.!!!!!!.”" .
W^r.(SPrillkJlnK* hoaUnK- and irrigating)
Zinc
*3,824.39
430.80
787.01
1,426.71
1.475.91
470.00
342. 20
1,544.30
1,473. 97
1.150. 91
2, 128.08
23,042.55
1,823.85
44,023.01
12,972.73
0.574.38
7,506.41
3, 804. 64
119. 10
2.307.91
2,731.24
2,585.35
11,333. 23
10. 100. 06
5,715.21
3.508.84
1,601.00
2.258. t>8
2. 665. 27
2.550. 56
354.30
3.726.85
3. 540. 19
16. 444. 20
6,041 92
19,279 27
3,309. 51
1,980.00
3 53
Refinery ex¬
penses.
*14, 70S. 91
150.05
672. 97
345.20
130. 68
250.00
113. 75
1,752.58
911.17
2,046.31
413.59
9,295.86
2,582. 19
18,561.50
6S5. 53
1,435-65
4,919.11
418. as
602. 95
4,519.90
747. 42
3S3.34
23.07
543.9.5
1,804.30
2,683.20
3,007.96
978.35
65,277.80
2.932.86
4.827.65
153.02
210.20
*18,533.30
589.85
787.01
1.426.71
2,148.88
824.20
472.94
1,794.30
1.587.72
2,912. 49
3,039.25
25.988.86
1,823.85
44, 436. 60
22,268.59
9, 156. 57
26,157.01
4, 490.17
119.10
3.743.56
7, G50. 35
3,004.00
11,996.18
14. 640. 86
6,41x2.63
3, VO U
1,714.07
2,802.63
4.469.57
2,550 56
3,037.50
7,334. SI
4,518.54
81,722.00
8,974.78
24, 106.92
3.462.53
1,980.00
213.73
LABORATORY OP TIIE BUREAU OF THE MINT.
tin's bureau *362 * "old1* andVw*0* 1^° W-ero tested by the assayer oi
exception, were a11 which, wiS out
unci fineness. m tho loSal requirements as to weight
REPORT DIRECTOR OF MINT.
29
In the gold coins the greatest deviation in fineness above stand¬
ard (the legal limit being 0.001 above or below) was 0.0007, while
the greatest deviation below was 0.0006.
The greatest deviation of silver coin in fineness above standard
(the limit being 0.003 above or below) was 0.0009, while the greatest
deviation below was 0.0018, us shown by the following table of assays
made at the Bureau of the Mint:
Philadelphia
Sen Fr»ncift*>.
New Orleans.
Denver.
Total.
] -
Gold.
Silver.
Qold.
Silver
Gold.
| Silver.
Gold.
1 Silver.
Gold.
Silver.
808.2 _
1
8M.6. ...
2
1 i
2
MO* 7 . .
10
3
13
MOM 0 .
18
1
| 5
• 2 1
28
809 1 ....
20
i . 10
1 3
43
800 3....
31
0
11
4
809 4 _
3
«* ri _
1
I
809 0 .
1
25
3
5
8
7
f ‘ 4
| - 42
MOOT .
9
3
17
29
809 H .
j ;
25
12 ,
10
_ 12
13
*u
48
61
809. U _
31
13
18
02
900 0 .
37
10
19
. if
10
24
7
80
yr
900 | _
28
7
13
50
9002 .
20
5 :
2 1
. ....
7
15
11
1 s
39
. 35
900.3 .
10
5
21
900.4. .
7 1
2 1
2
3
2
9
900.5 .
3
l
4
900.5 ...
6
.
!
5
i
900.7 .. .
1
1
1
2
900 9. . .
3
l
4
Total...
1H8
lfil |
at
54
87
m
46
302
348
Average
fineness.
900.051
899.400
899.913 |
899.826
899.008
899 926
999.824
899.980
899.596
In addition to the above there have been examined 363 Philippine
silver coins and 132 Mexican silver coins, all of which, except 4, were
within the legal requirements as to weight and fineness.
PROCEEDINGS OF THE ASSAY COMMISSION, 1908.
The following-named gentlemen acted as commissioners to test
and examine the weight and fineness of the coins reserved at the
several mints during the calendar year 1907 pursuant to the provi¬
sions of section 3547 of the Revised Statutes:
Hon. William B. McKinley, House of Representatives; Hon. William
A. Ashbrook, House of Representatives; Hon. Charles J. Russell,
Burlington, Vt.; Prof. Levcrett Mears, Williams College, Massachu¬
setts; Mr. George L. Harrison, jr., Philadelphia, Pa.; Mr. J. W.
Campbell, Fort Dodge, Iowa; Mr. L. S. Kerfoot, Seattle, Wadi. ; Mr.
John L. McNeil, Durango, Colo.; Mr. E. W. Harden, Chicago, Ill.;
Mr. Thomas P. Burns, San Francisco, Cal.; Mr. Frank Shinn, Colum¬
bus, Ohio. (Dr. H. G. Torrey, ex officio member.)
The commission met at the mint in Philadelphia on February 12,
1908, and lion. William A. Ashbrook was elected chairman.
The following committees were appointed by the chairman, with
the approval of the commission:
Committee on counting: Mr Campbell, chairman; Messrs. McNeil
and Burns.
Committee on assaying: Professor Mears, chairman; Messrs. Har¬
rison, Russell, and Torrey.
30
REPORT DIRECTOR OF MIXT.
Committee on weighing: Mr. Harden, chairman: Messrs. Kerfoot.
Shinn, and McKinley.
The committee on counting reported that the packages containing
the pieces reserved bv the several mints for the trial of coins were
delivered to them, and that thev were compared with the transcripts
kept bv the Director of the ifint and found to be correct. After
verification the coins were delivered to the committees on weighing
and assaying. '
The coins reserved by the mints for the purposes of the assay com¬
mission were as follows:
Gold coins from the mint at Philadelphia, 4.280, of the value of
$55,597.50.
Silver coins from the mint at Philadelphia, 16,017, of the value of
$2,662.90.
Gold coins from the mint at San Francisco, 2,377, of the value of
$45,430.
Silver coins from the mint at San Francisco, 2,896, of the value of
$641.60.
Silver coins from the mint at New Orleans, 6,783, of the value of
$1,809.90.
Gold coins from the mint at Denver, 2,765, of the value of $31 ,670.
Silver coins from the mint at Denver, 5.210, of the value of $1,478.50.
The coins reserved on account of coinage executed for the Philip¬
pine Islands were as follows:
cm
C3fc
731
.... 3.139
_ 1.056
.. 1.5RJ
The committee on a^aying reported receiving and making assavs
of coins reserved from the mints at Philadelphia, San Fnmcisco,
Denver, and New Orleans, representing the dAiveries made bvthe
comers to the superintendents during the calendar vear 1907 *
The highest assay value of the gold coinage (the'iimit of tolerance
being one one-thousandth) was at —
. fluoJ
. 9nao
900-3
The lowest assay value of the -old coinage (the limit of tolerance
being one one-thousandth) was at—
bei^ (‘he Umi‘”Oolera^
-. 90L 1
.. 90 L ft
900.9
bei^th^on^ou^ndt^f^'at— C°mage (th® limit of to,eranr<“
REPORT DIRECTOR OF MINT.
31
The highest assay value0 of the Pliilippinc silver coinage was at—
San Francisco (pesos)
Philadelphia (20 cent*
v»i. 6
73L5
centavos).
The lowest assay value of the Pliilippine silver coinage was at —
Philadelphia (5dcentavos).
The committee also tested the quartation silver and found it free
from gold, and the lead used in the assay of <*old bullion and found
it free from gold and silver. The acid used in the humid assay of
silver was found to be free from silver and also from chlorine.
The balances used were tested and found to be correct.
The committee reported the assays as entirely trustworthy, and
that none of the coins tested differed from the standard of fineness
by a greater degree than the amount allowed by law.
The committee on weighing respectfully reported examining sam¬
ple coins selected at random from tnose reserved bv the several mints.
The weighing was made on a balance by Henry Troemner, of Phila¬
delphia. The weights employed w’ere furnished under seal by the
Director of the Bureau of Standards, and w*ere accompanied by a cer¬
tificate stating their variations in mass from the standards fixed by
law*. The balance was carefully tested and found to be sufficiently
accurate without making corrections.
The secondary troy pound of the mint was compared with the
standard pound and found to be correct. A pound built up of work¬
ing weights of the mint was found to be correct within 1 part in
30,000.
The details of the weighings indicated that the deviations from the
statutory* standard weights of the coins examined were all within
the legal tolerance, consequently the committee on weighing pro¬
nounced the examination of the weights of the coinage of the several
mints during the year 1907 to be satisfactorv.
The committee on resolutions submitted the following;
Iicsolvtd, That it is the sense of the members of the annual assay commission that
the coin collection of the United States in the mint in Philadelphia should be made
as complete as possible. The communion desires to express its approval of the recom¬
mendation of the commnsuou of 1907, and it recommends that an appropriation of
$20,000 be made available for the purchase of these coins ami medals, these purchases
to be made under the direction of the Director of the Mint, and that an annual appro¬
priation of $5,000 bo made to continue the purchases of coinsand menials for this
collection.
One hundred thousand citizens of the United States, and many foreigners, visit
annually the United States mint in Philadelphia; many of those* visitors desire to
purchase a souvenir of the mint. It is recommended that the Director of the Mint be
authorized to have prepared annually a souvenir menial for sale to visitors. In the
opinion of the officers of the mint such authorization would net to the mint from $5,000
to $10,000 annually, that representing the vile price above the exist of preparing the
dies and striking tlic medals The profit to be obtained from the sale of these medals,
in the opinion of the members of this commission, should be added to the amount
appropriated annually for the purchase of coins and medals. And be it further
lifsolird. That the thanks of the members of the assay commission be extended to
the Director of the Mint and the officers and employees of the mint in Philadelphia
for their courtesy to the members of the commission during the session.
a By the act of June 23, 1906, the standard fineness of the Philippine peso was
reducod to 800 and tho subsidiary coins to 750 fine.
32
REPORT DIRECTOR OF MIST.
MINT OF THE UNITED STATES AT PHILADELPHIA, PA.
The following table shows, by weight and value, the gold and silver
deposited during the fiscal year 1908:
Metal.
Depaaits.
p . Standard
RodepusiU. ounces.
Comagc
value.
Oold .
3.338
WO
3,151 5.621 472. (776
30 6.637,558 74
S104.585.526.98
7,723,704.71
Silver .
Total .
4,258
3,171
112,309.231. »
Assater’s Department.
The number of assays made in this department was as follows:
Deposits and p orchises. .
Ingots ( gold and sdver). .
Special 'assays. . .
" »TS-.
10.113
V.S12
2.407
Total.
In addition to this 300 ounces of proof gold and 320 ounces of proof
silver w ere made.
Of the 2,341 melts of gold ingots made bv the melter and refiner
2,00S were passed. 324, while within the standard fineness required by
law, were returned for remelting, and 5 melts were condemned. There
were 1,485 melts of silver ingots made, of which 1 ,474 were passed, 5
returned for remelting, and 1 condemned
Tho fineness of gold melts passed » as;
258 melts at .
580 melts at . mm c
521 melts ai . a
495 melts at .
128 melts at . ^ ,
33 melts at . . .
. :::::::::: SSI
2,008
Tha fineness of silver melts passed i
88 melts at .
90 melts at .
368 melts at _
456 melts at...
152mdtsat...
85 melts at...
11 mdts at...
16 melts at...
1,474
1.474
— -i. b; .i.
Melter and Repin kr’« Department
CT-.s'i
also received silver bu m! ^.U^C<rs’ °J tlle value of $239,342. Ilo
ounces, of the value of «18 M4384^,’KL^ri11ff##,861-t8 stliu,Ianl
Items.
Ingots .
Merchant bar*.
Gold.
Silver.
Standard azs.
14.426.CM3.S30
2.465.453.361
5.795.688 Ht
3,1*. 086 Ai
REPORT DIRECTOR OF MINT. 33
The excess of gold and silver operated upon over the amounts
charged during tne year is due to duplicate operations.
Upon the settlement of the melter and refiner’s accounts, June 30,
1908, there was found an apparent loss upon the gold bullion during
the fiscal year of 1,350.172 standard ounces, and in the operations
upon the silver bullion an apparent gain of 5,769.45 standard ounces.
- The melts made aggregate as follows:
Mite.
Ban.
Ingots.
Anodes.
Deposits-
Special.
Total.
Gold .
381
2,341 1
1,465
1,044
4,756
385
8.906
3,291
Stiver .
915
891
Total .
1.296
3,836
1,044
5,646
385
12,197
During the year five gold melts and one silver melt were condemned.
Number, Weight, and Value or Gold and Silver Bars for Industrial Use.
Metal
Bars.
Standard
ounces.
Coinage
value.
Gold .
3 976
341 257.630
16.348.979.18
6tlver ..
2,564
1.U25.32L40
1.193, 101.26
Total.
6,500
1,366.579.030
7,542,080.44
During the year 212 barrels of sweeps were gathered, containing
by assay 2,913.565 standard ounces of gold, ami 5,342.59 standard
ounces of silver.
The operations of the refinery w'ere as follows:
Bullion.
Gold.
Sliver.
Scot to the ^24 410 24 grotf ounces containing by isssy.
Standard as.
2.465.433.361
2.464.03Q 612
1,465 341
Standard ot.
3,196,095 55
3,196,197.05
3.394 22
Sweeps — ™ . . .77..-*.*- . .
Apparent fin . . . . . . . .
44.792
1,406.72
Silver bullion sent to the refinery upon which refining charges were
collected contained by assay 2,615,278.52 standard ounces, and silver
owned by the Government and returned to the refinery for parting
purposes upon wdiich no parting charges were collected contained by
assay 582,817.03 standard ounces.
Daring the ytar the melter and refiner recaved from the superintendent minor coinage
Delivered prior to settlement:
Bronze Ingots . 3,996.99k. <0
Ntcke* Ingots.. ... 1 . 171 71 1 Tmim I T * * I T ' . V501.161.20
Delivered in settlement:
Bronze ingot* . .
Nickel ingots...
Bffifsr.;
Zinc .
nn .
Alloy, etc.. ..
Wastage .
. 1,504,319. 22
. 3Z3.292.70
. 5,579,236.81
. 950.997.33
. 59.227.09
... 68.638. 70
. 21,067.00
30.804.96
Troy ounces.
17.045,564.31
17,045,564.31
64472 — 06 - 3
34
REPORT DIRECTOR OF MINT.
Coiner’s Department.
During the fiscal year 1 90S this department received 12,496,691.010
standard ounces of gold, of which 12,449,944.310 standard ounces, of
the value of $231,626,870.88 were operated upon, from which there
were produced 6,470,284.041 standard ounces of coin, of the value of
$120,377,377.50, all delivered to the superintendent during the fiscaL
year prior to the settlement, upon which there was a wastage of
285.598 standard ounces, of the value of $5,313.45, being 4.57 per cent
of the legal allowance.
The percentage of coin produced from the amount of metal oper¬
ated upon was 51.97 per cent.
During the same period the coiner also received and operated upon
6,274,260.60 standard ounces of silver, of the value of $7,806,234.02
m subsidiary coin, from which there were produced 3,562,592.34
standard ounces of domestic coin, of the value of $4,432 463 *>5 in
subsidiary silver coin, and 501.11 standard ounces of Philippine coin
of the value of $623.46 in domestic subsidiary silver coin, delivered
superintendent during the fiscal year prior to settlement, and
tcmle!,t75«tStca,n/- i“'d T008 of domestic coin delivered to the superin-
ten dent at settlement, upon which there was a wastage of 520 48
°f ‘he ValUB °f ,284-H- 8 29 Per cent of°tt
a ted u pon <wasBf 7 . 10 fr0m th° am°Unt °f metaI °Per-
-i als° deiiv??d, .to the coiner during the same period
produced'! W mm® “fj8 ftnd ^“chets, from whicli were
Fa^ vdl3;6f1i1U4 300 10^d8nT«OSt,C 5‘Cen/ ^ C0in’ of tbe
Philippine government Aft 1?“ ounces of ntckel coin for the
.oinKS 3 T&4 It ?%£,•$ S SSffJZZ ““
ouncUJ^copi>e3^)nl»,tol,tilanTT' ’i'”/ 7?*'— 1 10,311)31188
produced 8,126,204.93 ounces of 1 fr°.m ,whi,ch there wore
*811,708.12, and 125 ounws of Conner K C°m’ °f face value of
goyerment, of the value of S 1 2 50 St“ ff°r the Ph,l‘PPme
comage, upon which there was a' was“aJe of on 070 07 coPPer-hronzc
Owing to a considemblA or 27 ounces,
development of the new desum^ °n exPepmental coinage in the
product of which could not Sr SttS «“<• fagle coins, the
and the receipt of a quantity of am<Jlin.t °f co^ produced,
not bo worked satisfactorily and had toT g°'? U,g^ts which could
the percentage of coin produced from A b° for remelting,
upon is lower than it otEerw^^uld haCo Wn.^ °f metU‘ °pcral°d
REPORT DIRECTOR OF MINT.
35
The following table shows the coinage executed during the year:
Denomination.
1'ioces. Value.
GOLD.
' * r — — - " ■
5,744,415 $114,888,300.00
272,9.15 2,729,350.00
651,913 2. 759, 5M.no
05 M2. 50
llmf eagles . .
Quarter eagles . .
Total .
0,509,328 120,377,377.50
SILVER.
Half dollars .
2.170.545 1.085,272.50
6.950.545 1,480,13(125
18,580, 545 1,858,054.50
Quarter dollars. .
Dimes . . . .
Total . .
MINOR.
.Vcent nickel pieces . .
1-ccnt bronze plecra. . . .
Total .
Grand total . . . .
-i'.7"7.u., I.UMMil
22,096,002 1,134,300.10
81,170,812 811,708.12
103,856.814 1,940.009.22
137,133,777 | 126,756,948.07
Ekoravek’h Department.
All the dies used in the coinage operations of all the mints of the
United States are made in the engraving department at Philadelphia.
The number of dies prepared lor United States coinage last year
was 2,380. In addition 629 dies were made for Philippine coinage,
10 for Mexican coinage, 66 for medals, and 111 master dies, hubs,
and experimental dies for the new gold coinage.
The following table shows the number of proof coins and medals
and their nominal value manufactured during the fiscal year:
! Number of
Nomina]
Artie!©.
places.
value.
Gold medal* . ...
. . 183
$4,60X50
1,152 50
18,788.75
1,222.50
476. 84
53.22
Silver modal .
2,418
Li route modal* . . .
A9 585
Gold proof cuius . .
. . 165
Silver proof coins .
2, <00
Minor proof coins .
1,774
ToUl .
20,207.31
MINOR COINAGE.
The manufacture of the 1-cent bronze and 5-cent nickel coins has
heretofore been confined by law to the Pluladelphia mint. The
Fifty-ninth Congress at its first session authorized the making of
these coins at the other mints, but the output so far has been wholly
at Philadelphia, and owing to the recent financial troubles was much
less than during the fiscalyoar 1907, as shown below:
Denomination.
1007.
1909.
1-cent bronzo.. .
$037,315.68
2, 382, 137. 50
$811,708. 12
5-cent nickel .
1,134! 300. 10
86
REPORT DIRECTOR OF MINT.
Bronze and nickel blanks were purchased from contractors as
follows:
Character.
Pounds i rnr1
avoirdupois. 1 1 osl'
Bronze 1-ccot blanks .
369,000
60.000
1138, 744. 00
25.350.00
Nickel .Vcent blanks . .
Total .
429,000
164,094.00
The amount of metal purchased for the manufacture of minor
coinage other than blanks was 810,419 pounds avoirdupois, at a cost
of $166,155.13.
The amount of uncurrent copper, nickel, and bronze coins trans¬
ferred from the Treasury during the year for conversion into current
coins, cost, and seigniorage are shown by the following table:
Oldooppar cents . . . S131. 46
Nickel l-ccnt coins . . . . 627. 99
Bronze 1-oent coins . . . | . 21 832- 90
Bronze 2-ceut coins . \ . ’ 244 90
Nickel :woent coins . " ’ ‘ . 600- no
Nickel 5-cenl coins . !!"!”””!”!!!!!!! !!*!!!! 170,144.00
Total . 193,071 25
Cost of nickel added to 1-oent metal to convert Into 5-con t alloy for reoolnagc Into nickel 5-ccn t
coin.. . . . . . . . . . . . . 04 /ij
Cost of Un and slue added to old coppcr-cent metal to convert into’ bronze’ Bonnt alloy for rocoin-
aRo into bronze 1-cent coin . * rg
ToUI . IM.0W.11
Coinage oxcruted, nominal value:
Bronze 1-cv.nt coin .
Nickel s-cent coin . n::::: : i : ::: n : I m ; ; i ; : ; ; ; ; ; ;
Low by recolnac* . 7373
Total....... . 196,640- 11
The seigniorage or gain, on recoinage of minor coin was S2, 928.87,
as against a loss of $10,887.54, showing a net loss of $7,958.67.
frnm16^1?1101^6 °? flie c°inage of nickel und bronze coins coined
ter m0t“1 WM ? *>535,029.42, which, less a net loss of
at. VP offices, %;com*& of nnnor coin and a wastage of the oper-
• t l° .m,nor .c°mago operations of $1,233.82. gives a
net seigniorage on minor coin of $1,525,836.93. b
fromH 1 79‘f whlllwf ^Y01^ typ68 °f minor coin manufactured
Juno : ,CTC^? °f coPPor cents was made, until
th£ mint !tllSTad $52,707,463.67. From the records of
amt>™ [hat there colnftP heretofore been made, it
losing outstanding June ^4, 779, 292.69,
factured 'by' 'th^Sn” at^hiladdDh1^ °* m^°T coin ,issued> manu"
amount remeltad „nd ti Philadelphia since its establishment, the
set forth ^^ho6foilowhig^tabie:OUnt °UtStandi“g 30, 1908, are
REPORT DIRECTOR OF MINT.
Minor Coins Issued, Remelted, and Outstanding.
.87
Denomination.
Coined.
Kernel led.
Outstanding
J line 30, 1908.
Copper cents .
Copper half cents .
1 tl, M2. 887. 44
38,920. 11
2.007,720.01)
10.502. 207.
012, 020. no
90S, 708. 52
30.710. 844.55
US0, 34L 6.1
SI. 182,545.81
39.92G.il
1,2(11,562.15
16,244. 270 40
572.091 UN
023.078 .\9
28.03U.496 95
Copper nickel cents. .
Krons® rants. . .
802,157.85
318,026. 50
339.328.92
282,090. 13
2.657,347 60
Bronte 2-rant pieces .
Nickel S-cent pieces...
Nickel 6rant pieces .
Total.
52,707.4A167
4,770,292.09
47,028.170.98
Minor coins to the amount of $2,337,103.04 have been distributed
throughout the States and Territories of the United States during
the fiscal year 1908 -$1,441,538.60 in nickel 5-con t pieces and
$895,504.44 in bronze 1-cent pieces.
The expenditure for the distribution of minor coin for the same
period was $48,105.86.
All Seigniokaoe.
The seigniorage on the coinage* of purchased metal for the fiscal
year was $3,506,350.27, as shown by the following table:
Item.
Coined.
Seigniorage.
Subsidiary silver rains . . . .
Minor coins
$3,605, 463. 25
1 , 700. 255. 05
$1,071, 320. 85
1.5.15,029. 42
Total . .
5. 455.718 00
3. 500. 350, 27
Visitorh.
A large number of visitors from all States of the Union and from
foreign countries visited the mint during the year, 113,406 having
been shown through by the several guides.
NUMBER OP EMPLOYEES.
The force of employees at the end of this fiscal year shows a reduc¬
tion of 24 from tne number carried on the rolls at the end of the
previous fiscal year The total number on the rolls at the close of
the fiscal year was 472, distributed in the several departments as fol¬
lows:
Department.
Mole.
Female.
Total.
<;< Iici.,1
182
12
224
1 12
Coiner h ... ...
92
57
149
Mclter imd rentier’s . . . . . • - . .
■ '
ui
Engraver's .
17
1
18
Total .
371
101
472
38
REPORT DIRECTOR OF MINT.
MINT OF THE UNITED STATES AT SAN FRANCISCO, CAL.
It was noeessarv during the fiscal year of 1908 to close this mint for
settlement on two unusual occasions, owing to a change of the officers
anti the consequent filing of new bonds. .
In the early part of the year, Frank A. Leach, superintendent of
this mint, was offered the position of Director of the Mint, and on
September 19, 1907, he resigned the superintendency to take up the
duties of his new office. Mr. I^eac-h was succeeded as superintendent
by Edward Sweeny. On July 8, 1907, Dan T. Cole resigned, and
Aug. E. Mucnter assumed the duties of coiner. Mr. Muenter remained
in office until the date of Mr. Leach’s promotion, when lie, too,
resigned, and was immediately succeeded by W illiam M. Cutter.
The settlement of January *31, 1908, was occasioned by the neces¬
sity for the filing of new bonds by the superintendent and coiner,
the former bonds haying been filed under a recess appointment.
The weight and value of the gold and silver bullion deposit ed
during the fiscal year was as follows:
Metal
Deposits.
Standard
1 ounces.
Value.
Gobi .
. 6.126!
1,253 2,965,013.444
(33.302.575 *
StlVCT.. .
. *. 42S
. 14.67SOft4.5l
IS 20, 007. a»
Total .
u,&r>4
1.253 .
71,565.673.05
Of the above amount of silver bullion 9,851. 801. 76 standard ounces
of Philippine silver coin were received for recoinage for the govern¬
ment of the Philippine Islands.
Assay Department.
During the fiscal year ending June 30, 1908, several improvements
in the equipment were made, which have tended in no small degree
to increase the efficiency of the department. The purchase of a set
of heavy 3-inch rolls, operated by an electric motor, has greatly
facilitated the rolling of silver ingot granulations, especially in the
case of ingots for Philippine subsidiary coinage, where the proportion
of copper alloy has been so large. Individual motors are now being
placed on all rolls, the unsightly and cumbersome shafting and belting
in use for so many years being dispensed with, and the frequent falling
of dirt ami grease upon the samples thereby avoided.
Late in the year a fairly complete experimental laboratory w ith
hoods, tables, shelves, etc., of acid-proof stone was fitted up, toVnablc
the carrying on of investigations into the nature of base metal con-
nCV.-S1H’ ?n<1 to I)crmit the making, not onlv of
Sons! Uh ^metric b ettjif0"3 qUanUUtiVC dp,frmma-
inTl'm ‘T‘a!!ment, of tlli,s Moratory resulted almost immediately
M- a m.rh0< for the ^termination of the Rold con-
rte"t™b,l‘°n' thf f,ir accuracy and rapidity U far superior
riwfch lT5' °™er, v US,H|- Th* new method does away
instances enables ns t^ °r - 6 Part.ln,S flask or mattress, and in man.'
well. & ° ‘kspense with the use of the cupel furnace as
BEFOIiT D1BKCTUB OF MINT.
89
Briefly speaking, it consists in the parting of a gram of the bullion,
either with or without cupcllation, according to the amount and
nature of the base metal present, in a No. 2 porcelain crucible con¬
taining moderately strong nitric acid. Two five-minute boilings are
made, the discarded solutions being carefully decanted to avoid dis¬
tributing the gold residue, which, after being thoroughly washed in
hot water, is dried and annealed without having been removed from
the crucible in which the parting was made. The results are very
accurate, quadruplicate assays agreeing almost exactly.
A greater amount of routine work was achieved in the department
than for severul years past, there having been a total of 92.124 assays
made at an average cost of $0,318 per assay. A considerable propor¬
tion of this increase was duo to the opening of the new' refinery, the
assays for w'hich averaged over 1 ,200 a month during the last quarter.
The appended tabic shows the operations of the department in
detail :
Gold omya mode -
Silver aamyi mode -
Sweep oMay* modi' —
Total . ...
I*rouf gold modi*. . .
Proof illvrr modi'. . .
Port inn silver pnrporr«l
Cupels modr. .
Leod* cut and rolled . .
02, 124
260
100
i.fino
100,000
100,000
The reported finenesses of ingot rnelts are as follows:
UNITED STATES COINAGE.
40
REPORT DIRECTOR OF MINT.
PHILIPPINE COINAGE.
Wastage In gold
Standard ounce*.
- fc6Jd . 3,497,601. -W
2,763,57o. 21S
733,741.016
- 3,497,317. SM
. 283.765
REPORT DIRECTOR OF MINT.
41
Standard ounces.
Received from the superintendent September 30, 1907. to June 30, 1906. bullion containing
gold . 3,811,252.177
Returned prior to settlement June 30. 1906 . . 1 ,383,900. 496
Returned In settlement June 30, 1906 . . 2. C7. 129.764
- 3,811,039. 2C0
Wastage In gold . 212.017
Received from the superintendent July 1 to September 19, 1907, bullion containing sliver . 3,466,429. 57
Relumed pnor to settlement September 1'*. 1907 . . 2,155,327.37
Returned at settlement September 19. 1907 . 1,319,498. 37
- 3,474,825.74
Surplus In recovered silver .
Received from the superintendent Septemlier 20, 1907. to June 30, 1906, bullion containing
silver _
Returned prior to settlement June 30, 1906 .
Relumed In settlement June 30. 1908. .
Surplus la recovered silver .
. 19,482,741.94
3,391,301 88
gECATriCLATTON .
Total amount of gold bullion n»eive*l during fiscal ve-ir . 1*222’^
Total amount of gold bullion delivered during fiscal year. . . 7,308,3o/.094
Net wastage In gold. .
Total amount of silver bullion received during fiscal rear. • .. J»,336,248.31
Total amount of silver bullion delivered durtnr Qsral y«
Net surplus In all ver .
Malta tor—
Number.
damned
(jojij ingots . . . ..... ... . . . . .
1.4W
57
Silver Ingots. . . .
12,871
46
Total . . - . 1
14,360
103
There were manufactured during the fiscal year:
871
Total . . 1
There were gathered in sweeps 288 barrels, containing by assay:
Standard one
Gold . . . ,«*
The installation of the new electrolytic plant was completed and
refining commenced on March 2. 1908. During the remainder of the
fiscal year the plant ran steadily, but the work in the operation of
the silver cells was largely exneriinental in nature, the methods,
machinery, and utensils Deing changed from time to time, and that
portion of the plant not yet perfected.
The total refinery operations were as follows:
Standard ounces.
Cold bullion refbiod upon which charges were made. . 314,3-0. 322
Gold bullion refined upon which no charge were made . . . 759,107. 928
Net amount of Million sent to refinery . . 1,073,491 250
Net amount of bullion received from refinery . . 1 .072,905. €06
Wastage In gold
Sliver bullion refined npon which charges were made. . — 227.537 34
811ver bullion refined upon which no charges were made . . . 9,46152
Net amount of bullion sect to refinery . . .
Net amount of bullion received from refinery
Wastage in silver. .
237,018.86
234,619 49
42
BEPOBT DIBECTOB OF MINT.
Coiner’s Department.
The coiner received gold and silver during the fiscal year as follows:
oou>.
Standard diners.
to September 19. 1907 . 2,830,907. *o
Received from superintendent July _ |_ . .
Krtiinicd prior to settlement September 19, 1907 . 2,533.252. 630
Returned In settlement September 19, 1907 . 207 622. 073
Wastage In gold..
- 2,830.875.223
Received from superintendent September 30. 1907, to January 31. 1908 ^ 1 fitt
Rrturned prior to settlement January 31. 1908 . . . 1,585 038.180 ’
“* ^ftH *’ y 31. 1906 . ’ 40!438 626
Returned at settlement January 3
1,634,476. 806
Wastage in gold..
Received fremi superintendent February 1, 1908, to June 30, 1908 _ 44 707
Returned prior to settlement June 30, 1908 . . 71 3^ ” M)
Returned at set tlemen l June 30, 1908 . ...... ; 44 , 706.* 948
- : - 44,778.324
Eio«b In fold . . —
mirzx.
frojn superintendent July 1 to September 19, 1907 . o 729 817 5n
Returned prior to settlement September 19, 1907 . an is
Returned at settlement September 19, 1907 . . .. . ’SB'S®
Wastage In sliver. .
- 2,728,671.82
1.145. (IS
^^,^“‘72SSS?>£2StrlSilT' to ,““or “■ "® . a-a^a
Returned at aettlement, January 31, 1008 . . — 1^^438
- 7.780.33a 46
Wastage In silver . .
. . . . . . . 1— . _ a jtv is
Received from supertntenent. February 1. 1908. to June 30 iuk
Returned prior to settlement. June 30, 1908.
Returned it settlement — - 1 1,576, 60S 77
. . 667,89126
12.250.316.47
Wastage in silver . .
-12,244,516 03
5,80144
KKcarrmjinos.
Total amount gold received during fiscal year
Total amount of gold returned dunng lived y^r . 4. 510, 130. 830
... . * . 4,510,130.353
Net excess In gold . . - _
. . . . . 9 523
Tobd amount of silver bullion during fisralv-mr —
Total amount returned during fiscal year...’ . 22,763, 9(E. 50
Net wastage .
8tSrn#oracJdfagoidaand20 ToT^sT^'^t T" 4' 1 67-758asu
lie delivered to the su^rin.ln.t?!’8^8- •* st1n'l,ml ounces of silver.
378.750 standard <>unee^ of sold coil^v5! ‘ Sa"’e period 2'441'
11,810,282.1!) Standard ounces^of iiK^r ’ a* *45,421,000, and
in standard dollars, or $H 693 974^1 J^Ued *1 *13,742,873.81
35,504,039 pieces. Of this amoiinf 1".9U ffildiaIy com, aggregating
fSF3S£ &&
9S0
REPORT DIRECTOR OF MINT.
48
The following table exhibits the coiner’s deliveries for the fiscal
year:
- -
Denomination.
Piece*.
Value.
Gold:
2. 165, H00
$43,316,000 00
2io.am
2,105,000 00
2,376,300
45, 421,000 00
Silver
2.1T2.WS
i, *8,000
4.565.UW
1,086, 414. 00
347. onu 00
Quarter ilollurs .
Dimas ...
456.500 00
Total .
8. 125, 828
1,889,914. 00
PHILIPPINE ISLANDS.
Denomination.
I’leres.
Value.
16. 12K.000
2.165.000
2,735,01)0
4,103,911
Peso.
16. 128,000 00
1,032. 500.00
M7.0lM.00
4U3.391 10
5t Iron in vos. .
20 centavos .
10 centavos .
Total .
25.001.911
18. 130,891.10
The percentage of corns produced from the operate' h
was: Gold, 5S.5S per cent; silver. 5 <.<0 per cent. This has Oec
record-breaking year for the coining department of this mint, tilt
total number of pieces coined and delivered exceeding the pro
of any previous year by 4,231,025 pieces.
nvmbrr of employers.
The total number of employees in this mint at the close of the
fiscal year 1908 was 317, distributed as follows:
General .
AssajerV . . .
Metier anti ntllnu>-
Coiner’* .
Total .
Department
Male Female. Total.
87 1
17 0
01 o
70 HI
88
17
61
151
235 82
317
MINT OF T11E UNITED STATES AT NEW ORLEANS,
The standard weight and value of gold and silver deposited at this
mint during the fiscal year was as follows: _
Metal
Deposits.
Standard
ounenu
Coining
value.
Silver . .
780
100
46.296.675
4,535.796.480
$861,333.47
5.278. 017. 71
880
4,582,093. 156
6.139.351. 18
1
44
bepokt dibectoe of mint.
Therr were purchased over the counter 2.659.268 ounces stand¬
ard of uncurrent domestic gold c»*in, of the face value of $49,989.50,
producing in new coin $49,474.74. showing a loss in recoinage of
$514.76, and 160.49 ounces standard of uncument domestic silver
coin, of the fare value of $201.25. producing in new coin $199.66.
showing a loss in recoinage of $1.59.
The treasurer transferred for recoinage uncurrent domestic >ub-
sidiarv silver coin o£ the face value of $64,550. containing 48.064. 30
ounces standard silver, producing in new coin $59,800.05. shoeing
a loss by wear of $4,749.95.
There were deposited 204.762 ounces standard gold (unrefined
domestic bullion, producing in gold coin $3,809.5*2.
There were deposited 621.34 ounces standard silver domestic
bullion, producing in standard dollars $723.01.
There wore deposited 38.51 9.0S5 ounces standard gold unrefined
foreign bullion, producing in gold coin $716,634.14.
There were deposited 21.450.70 ounces standard silver unrefine*]
foreign bullion, producing in ?>tandanl dollars $24,960.81.
The following table shows the countries from which the bullion
was received:
Tirtal
Gold. MIto.
11
- i-
Vthk
11
C (UK
Vais'.
1.<LC SJfe
meau
1S.M
*»4iS7
c.rr.w
24sSB
mm
mu *
41*
4B »
1S7-OM
C
74. »
•.75
1«M»
14Stt
Ml (4
«.saa«s
734,04.14
r
m.m) n
Foreign cold coin containing 1,881.494 standard ounces of the
i ^d foreign silver coin containing
66^. * S3 standard ounces of the value of $77,472.38 in standard
silver dollars were received.
*" 3-0^«» «*nd-rd ounces and cuinase
vaJuf of So6.15-.19 and silver bullion 4.978.570 standard ounce.
and aimage value of *5.793.25 in standard silver dollar* a as ob¬
tained from jewelers bars, plate, etc.
The number of employees during the fiscal Tear were as follows,
the superintendent and operative officers not included:
ToUL
«S
REPORT DIRECTOR OF MIXT.
45
As&ATEK'B 1>EPAET*EVT
The following is the assay er’s report of the fineness of the silver
and gold ingot melts passed during the fiscal year 1908:
SILVER INGOTS.
Pdwm.
Somber
of melt*.
nmmem.
Xoaber
ofnfa.
«w<
au. .
A
r
n
<r 1 1 1-
i
WL». .. .
MT
WO. . . . - .
.. ... 7
m<i ....
2 (
KS
WEA....
•
CoodemM
J
m*
C 1
Totol.
01
GOLD IXGOTSL
2
N«r mbei or Dirismi. Pt kvhasea. Koot*. xst> Baas Received aso Assayed or*-
uso Fiscal Yea* 190b.
MeLTEH AXD RETOftt's DETAJtT*ZVT.
TTie melter and refiner received and operated upon 111,959.889
standard ounces of gold bullion and returned at the settlement
112,078.779 standard ounces, showing a surplus of 118.890 standard
ounces. He also received and operated upon during the same
period 8,406, 3SS. 43 standard ounces of silverand returned 7,416,073.43
standard ounces, showing a wastage of 1,929.93 standard ounces,
being 15.3 per cent of his legal allowance.
From 95 barrels of sweeps there were obtained 97.052 standard
ounces of gold and 5,732.42 standard ounces of silver.
4fi
REPORT DIRECTOR OF MINT.
The number of gold and silver ingot melts made and the number
eondenmed bv the assaver is as follows :
I Number Number
made, {condemned.
Gold ingots . . .
Silver ingots. .
m
Mkltm Made during the Year.
. 22 ' Silver deposit* . . Ilk,
II Grain Uah .
Ma» melts.... go Granulations . 44
Gold deposits 7>» Miscellaneous Jj
refinery operations.
The weight and value of gold and silver operated upon in the
refinery were as follows:
Metal
standard
ounce*.
Coining
value.
Gold bullioii .
Stiver bullion
». 147 107
MSS, 901. »
AmGold°r r°ltl S*,Ver rrcwvwl *W*m refinery:
Silver! !.!!.., .
35,147 197
80.436,03
101, 10*. 51
iW3.wi :o
100,07V US
JS&'SZT WhiCh CharRPS "'l'ro 00U00tod vontainod 21,427.33
which 'lu>r<> werc “°
IUe rofmerv W8S in operation for only three months.
Coiner's Department.
7.65S.fct5iKS0ft,“r' "’“iral “> ■*“« «p»
mmcs of sUwU^nd vaKi^d1^ fSX/lSr1 stnndM.1
P.OCOS, as shown by the following table-’ ’ 16,266,6m)
No gold coined during this fiscal year.
naif dollars . .
Snorter dollars
law* .
Denomination.
SLYXJt.
«.S34.<wo
O.V’l.OiM
2. OSS, 000
10,260,000
I3,177.»)
1,7X1,000
*, 307, 100
was, Silver. 54.9s! °f °°m IlroJuce<> from the amount operated upon
rilvwbri * wlstagcduring' the ' vtaT of j?, i,f"'a-s found *h“‘ *h(,r<'
’ bomS 39 '-1 per cent of the legal allowance Stttn<ittrd ounces of
REPORT DIRECTOR OF MINT.
47
MINT OF THE UNITED STATES AT DENVER, COLO.
The receipts of gold and silver during the fiscal year 1908 were as
follows:
Metal.
Deposits.
Kedeposlts.
Standard
ounces.
Coining value.
Gold
3.865
760.250.597
$14,144,364.50
Silver .
3.758
4,357,843. 44
5.070,045.00
Total
7,628
5.118,103.037 j
19,215,309.68
Domestic bullion, refined, carried 13,867.862 standard ounces gold,
of a coinage value of $258,006.74, and 4,006,640.05 ounces of silver, of
a coinage value of S4, 662, 272.06.
The metallurgical plants, manufacturing high-class bars below .990
assay fineness, furnished 254,922.145 standard ounces gold, of a
coinage value of S4 ,742,737.59 and 10,426.69 standard ounces silver,
of a coinage value of $12,132.88.
OmCEKfl AND EMPLOYEES.
The number of officers and employees in the mint at the close of
the fiscal year was as follows:
Department.
Men.
Women.
Total.
Genera] . ...
60
2
62
Aasavrrs .
10
10
Cotno-s .
32
47
79
Meltrr and Iteflovr s...
24
24
Total . . . . .
126
49
175
A H8A r Department.
The operations of this department during the fiscal vear 1908 were
as follows:
Samples Operated Upon.
Deposits . _
Exchange l«rx..
Return bars . .
Silver Lars (special purchase;.
Anode melts .
Mint fine bars .
Ingots.. .
Consolidated melts ...
Experimental assays .
Bullion assays .
Copper bars .
Melter and re/lner's grain ban. .
Coiner s grain burs .
Superintendent's bars .
Assay Sr’s bars .
Sweep* .
Special assays .
Forest Service ban .
Total .
3.833
*2
32 14
3
91
3,182
371
211
120
438
7
1,776
564
16
4
10
IS
31
8
12
5
13
17
41
41
370
4*»S
77
74
5,746
6,672
4.383
46
3
3,182
462
331
2,214
7
564
20
10
40
20
5
30
82
847
151
48
REPORT DIRECTOR OF MINT.
. 24.702
Z1.5M
7»
257
199
44.000
44.000
Gold IMJI .
Silver assays . .
Sweep MM 71 .
Forwl Service umti.
Cancel ol proof paid made.
Cupels made . .
Leads cut and rolled .
FIVE GOLD DETERMINATION'S.
The reported fineness of the refined gold melts during the fiscal
year 1908 were as follows:
Fineness.
Number
of melts.
Number
of melts.
099 1 .
1
990.7 . . .
40
999 2
4
999.8 .
21
999 1
5
999 9 .
J
999 4
21
999.4 .
no
Total . .
211
999.6 . .
56
INGOT USES ESSES.
The reported finenesses of the gold and silver ingot melts during
the fiscal year 1908 were as follows:
Fineness.
Number of
melt*.
Fineness.
Number of
melts.
899.7 .
GOLD.
7
silver— Continued.
890.9 .
15
890.8 .
38
SU0.O. .
7
899.9 .
146
900-1 ..
j
900.0 .
185
900.2. .
1
900.1 .
44
900 J. .
1
9Q0.2 .
4
9U0.4 .
2
Kernel te>l
424
9
Kernel t*»J
Condemned.
5
Condemned . .
1
TotaL..
438
Total .
1.701
Mg.6 . .
SILVER.
132
mezicax hlver ingots.
796.5 .
2
898i::::::.::
153
206
796.6 . .
798.7 .
6
13
11
11
806.9 .
890.0 .
234
106
146
798.8 . .
796.9 . .
aaoj2 .
709 j0 .
3
930 J. .....
899 4
.
121
91
79
60
30
22
790 j?. . .
2
14
899.5. . . .
899.7 .
899 A .
790.3 .
790.6 . .
Total .
■
4
75
Melter and Refiner's Department.
thJ&cTjw ended°.June 30^1908: ““ suPerintcndent durin?
In bullion .
Returned prior to aatOanant
Returned at settlement .
cou> aococet.
Standard ounce*
. 2, 747, 21 A 200
• 2. 477. 972. OOS
260,731.619
- 2,747,703.717
Surplus In fold recovered .
bO.448
REPORT DIRECTOR OP MINT.
49
SILVER ACCOUNT.
In bullion . .
Returned prior to settlement _
Returned at settlement .
Surplus In stiver recovered ,
6,665,331.67
865, 023. 54
7,518,016.09
7,530,355-21
11,438.52
The surplus was recovered from unreported fractions of assays,
from the difference between standard and actual fineness of ingots
delivered, and from fractional gains in weight of deposits.
The following melts were made :
Ingot melts condemned: Gold, 5; silver, 1.
One continuous run on silver ingots weighing 3,556,313.56 ounces
was made without having a melt condemned or remelted.
During the year there were gathered 1,525 sacks of sweeps, con¬
taining, Dy mint assay, 435.145 standard ounces of gold and 2,872.82
standard ounces of silver.
Refinery operations, covering a period of nearly ten months, were
as follows:
OOLD ACCOUNT.
Delivered to the refinery.
Returned In fine bars.
Returned In settlement.
Returned lu sweeps . .
Standard ounces.
. 1,386,919.608
103,389. 083
83, 724. 104
238.938
- 1.387,352-785
Surplus lu gold returned
STLVKE ACCOUNT.
Delivered to the refinery .
Returned In fine hars .
Returned In settlement . .
Returned in sweeps . .
Surplus in silver returned .
Earnings of refinery:
Charms collected. .
Surplus bullion recovered . . .
Total .
433.087
521.192.25
86,909.48
1.383.22
604,339.17
609, 494.95
5. 155.78
847.322. 53
14,952 97
82,275l50
Average fineness of parted metals: Gold, 0.9996; silver, 0.9993.
Coiner’s Department.
During the fiscal year 190S the coiner received from the superin¬
tendent 2,696,697.90 standard ounces of gold, making therefrom
$31 ,440,000, on which there was a wastage of 70.936 standard ounces,
being 5.26 per cent of the legal allowance. He also received during
the same period 6, 4S8, 225.60 standard ounces of silver, making
64472-OS - 1
50
REPORT DIRECTOR OF MINT.
therefrom $5,001,000 in subsidiary coin, on which there was a wast¬
age of 2,147.17 standard ounces, being 33.09 per cent of the legal
allowance.
The following table shows the denomination, number of pieces, and
value of coin made:
• Denomination.
Pieces.
Value.
GOLD.
Double eagles ... .
1,346,210
210,000
4£3.flftl
326,021,000
2, 100, 000
9. nr, nm
Eagles . . . .
Half eagles .
Total gold .
2,039,2*0 31,440,000
SILVEH.
Half dollars . .
0,120,000 { 3,060,000
4,976,000 1,2+1,000
6,970,000 697,000
quarter dollars. . .
Total silver .
18,066,000 5,001,000
Total coinage .
20,105,210 36,441,000
During the period from April 1 1907, to August 1, 1907, he received
4,358,049.09 standard ounces of 50-centavos silver ingots for Mexi¬
can coinage, making therefrom 6,199,291 pieces on which there was a
wastage of 2,916.12 standard ounces, being 66.91 per cent of the legal
allowance.
The per cent of coin produced from amount of ingots operated on
was: Gold, 62.93 per cent; subsidiary silver, 61.96; per cent; Mexican
50-centavos, 50.81 per cent.
ASSAY OFFICE OF THE UNITED STATES AT NEW YORK, N. Y.
The report on the business of this office for the fiscal year 1908
is as follows: J
Bullion received.
Deposits.
Rcdoposils.
Standard
ounces.
Coinage value.
Gold .
10,898
4
24
7,083,832 191
5,544.155.42
$131,792,226.75
0,451,350.85
Total
2,845
13,743
28
13S, 243, <07.60
~ an
was ?79’188r
642.09, an' i'ncrefi^corerfast veS of<$S>844°S30e01)3*^e^
Ihe sources of domestic gold bullion ind coin' were as follows:
pr. atar ““ st«« ^
* rom JmvelcrB’ bars, plate," etc .
E|Vm jMeposUiK1 bunion . . . .
From United States gold coin ofilght weight .
Total .
. $5,556,326.20
. 41,567,041 42
4, 601, Mi 19
3,147.81
785,982 27
52,603.642- &
REPORT DIRECTOR OF MINT.
51
This statement shows an increase over last year in the amount of
gold bullion received from private refineries of $8,486,051.11, and
from United States gold coin of light weight of $140,176.97.
Of the fine silver received during the year, SI, 996, 097. 73 standard
ounces consisted of purchases.
The redeposits of silver consisted of 85,470.71 standard ounces,
contained in fine bars made at this office, and 29.36 standard ounces
of unparted bars made at the Denver mint and the Boise assay
office.
The unparted bullion received during the year has been transmit¬
ted to the Philadelphia mint for treatment, as the parting opera¬
tions have not been resumed during the year.
The deductions from base silver bullion received from July 1, 1907,
to February 28, 1908, inclusive, for the benefit of the melter and
refiner’s account amounted to 1,935.35 ounces, containing 62.87
ounces fine gold and 1,448.56 ounces line silver.
The surplus bullion recovered by the melter and refiner in his
operations was 1,293.19 ounces fine silver, and he incurred a wastage
of 55.165 ounces fine gold.
The amount of bullion delivered to and returned by the melter
and refiner to the superintendent during the fiscal year 1908 was as
follows:
Item*.
Delivered to
the melter and
refiner.
Returned by
the melter and
refiner.
(tuld . . . .
Standard azs.
. 7, 313, 458. ICSS
Standard ou.
7,313,414.31
5,070,377.38
Silnir.. .
5,675,084-20
The grains and fluxes from the deposit melting room yielded
$10,466.38; the sweeps (119 barrels), $13,40S.93.
There were stamped during the year 50,903 gold bars and 15,451
silver bars; previous year, 73,759 gold bars and 23,041 silver bars.
Gold bars issued to depositors o( bullion for domestic use . $3,041,410.62
Gold bars exchanged for gold coin for domestic use . 17, 152, 888. 04
Totul gold bars issuod for uso In the arts, etc - . 20, 104,208. 06
showing a decrease of $8,722,611.05 compared with last year.
The value of gold bars exchanged for gold coin for export was
$40,799,187.96, being an increase over that of last year of
$15,628,288.17. The income from the exchange of gold bars for gold
coin was $25,014.44.
The force employed in this office at the close of the year comprised
81 men and 3 women, including the superintendent, assayer, melter
and refiner, and 81 others, distributed as follows:
General department . . 31
MeJLcr and refiner’s department . 41
Assayor’s department . 12
Total . 84
During the year the old refinery building has been taken down,
but actual operations in the building of a new one have not been
begun.
This report covers the business for one and one-half months, to
August 15, 1907, under the incumbency of the previous superintend-
52
REPORT DIRECTOR OF UIST.
ent, and the remaining ten and one-half months of the year under
that of the present superintendent.
There were assayed 10.S9S melts of gold deposits and 2.S45 melts
of ahrr deposii s, a total of 1.3.743 melts involving dS.715 assavs.
The fine gold and fine silver melts assayed were about 431 and the
fineness was stamped upon 50,903 bars of gold and 14.451 bars of
silver, a total of 66.354.
Special assavs number 995. being largely articles of jeweirr and
manufacturers samples.
Assays were made on 205 barrels of sweeps and on 174 consoli¬
dated melts for shipment to the mint, with the usual incidental ones
for the mrluT and refiner, etc.
All proof gold, proof silver, and cupels used were made in this
department.
An electric pyrometer has been installed in the Uboratorv and has
**?. -.°* assistan« in determining the different heats of the
gold, silver, and copper cupellation.
Ms.m vxd Bcnxn’f Dimrinr
lhiS JcfmnmCTlt during trie fcc*l rear 190S is a-
8X395/ i.?**-**1 — !■««■*. 17.<HI. Total
and
«Eat«d as cooiaCuag*! i oanoes S1®65 «**"
2,430,443.1 17 staadu) nun and aht gold.
«7 U ***■«» ««»■-* 548c-
to sspcnnuoda,, , JJ*5 *'f*arned from mehers azi
392.44i> standard • ~ -r - tn. mint bars: Gold 25 -
T. aadTE^L^S8..^3*^**^* »U»darf o«r«-
(T»luc, $191.7' iaj *_►> ounces of -oandarz
rj61 « *«* ret °—?8 of .^ndani silver ,vase
debited to U* meh«^fi *d.Al^na >3, 1907. in excess f
61.036V!) and an — ^ **ttt if standard mU
(*»!«». $433.72)/ tmam U S70S1 ounces of aandard silver
REPORT DIRECTOR OF MINT.
53
The following statement shows the relation between the expenses
of this department for parting and refining and charges collected
therefor:
C^arpes collected . .
811 ver surplus of August 15. 1907 . . *1 94
Sllvor surplus of June 30. 1908. .
Old Itwn sold. . . . . SI'
Old lead and antimony sold . .
Old copper sold . . . . 184 *
Total . . . *121,858.78
•«S£XSim~ .
Chirp«of Philadelphia mint.. .
Loss oo sole of sweeps . . . hnSaS
Total . . t . 127 .M2- 78
Excess of expenditures ovw reeipt* . . . 4,983.98
„ THE mint of the united STATES AT CARSON, NEV.
The value of the deposits at this mint, conducted as an assay
ollice, during the fiscal year 1908 showed an increase of $937,552.31,
or nearly 114 per cent over the deposits of 1907. Gold to the value
of $1,707,399.16 and silver valued at $53,681.38 were deposited.
Four-lift lis of tliis amount originated in Nevada; the balance from
California.
The operations required a total of 4,485 assays. This number
includes deposits, consolidations, bullion and ore assays for gold,
silver, copper, and lead.
The weight of deposits before melting contained 139,366.31 ounces
and the weight after melting 136,683.31 ounces, an average loss in
melting of 1.92 per cent.
The force of employees consisted of 7 men during the first eight
months of the year, anti 9 during the last four months.
The following table shows the amount of deposits, eaminp, anti
expenditures, together with the percentage of net expenses to deposits
for the fiscal vear:
Item.
Amount.
Deposits:
Gold .
Silver (coining value) . . .
. *1.707,399. 15
53,081.38
<1,761.080.84
3, (V21.63
Expenditure* .
PwrcnUp1 of net expenses to deposits, 0.04443.
11,445. 10
l_ _
ASSAY OFFICE OF THE UNITED STATES AT BOISE, IDAHO.
During the fiscal year 1908 there were received at this office 1,549
deposits°of gold bullion, all of domestic production. The States
from which deposits were made are Idaho, Oregon, Montana, Wash¬
ington, and Utah. No silver bullion or coin were received for assay.
The amount of deposits shows a small increase over those of last
year.
REPORT DIRECTOR OF MINT.
54
The weight of bullion received before melting was 70,118.67
ounces and after melting 67,695.90 ounces, the average loss in me ting
bein" 3.45 per cent. There was a gam of $63o.44 in mass melting.
The office force of this institution consists of 9 men.
The following table shows the amount of deposits, earnings, and
expenditures, and the percentage of net expenses to deposits:
LtepodU:
Uoltl . . .
Silver (coining vulac) .
. $851,235.76
SUM 14
Emmlnjn . . - -
Expenditure .
Forty n lag* of net »'xpm*« to dn**U». 1.30000.
$880,396*1
2,815. 55
13.Vl.T88
ASSAY OFFICE OF THE UNITED STATES, HELENA, MONT.
During the fiscal year 1908 there were received at this oflice 880
deposits of gold bullion. Of these deposits 13 were buttons.
The weight of the 867 regular deposits before melting contained
137,372.93 ounces and after melting 131,625.89 ounces, being an aver¬
age loss in melting of 4.183 per rent. The average fineness of the
imparted burs shipped to the Philadelphia mint was: Gold, 634$;
silver, 316 ; the total gold and silver coinage value being $1 ,779,113.15.
Number of unyi, reruler tfepuaiU . . 2, 810
Special MMyi, aUf>, ny-producta, etc . 170
There are 13 persons employed at this ofliee, 12 men and 1 woman.
The following table show's the amount of deposits, earnings, and
expenditures, and percentage of net expenses to deposits.
Item. X
Amount.
DtpoaiU:
Silver (coining value; .
■ - «1| 4A»
Kamlnei .
$1, 77V, 113-34
3<W»
r«nwnlacn of uol oxpenu« to dcpoxite. 1 (TNM*.
23,UW.<B
ASSAY OFFICE OF THE UNITED STATES AT CHARLOTTE, N. C.
. tbo there were received at this oflice
In Iff bu um’ Principally from the Appalachian Iiange.
n f t0 l l° ““y of re£ular deposits there were made 95
Uoou> a oi oro.
llie weight of bullion before melting contained 13 313 ounces
per cent" m*ltmg 13-H-36 «■»•. average kSta meltk* of 1.28
llio force of this office consists of 2 officers, 1 clerk, and 2 laborers.
REPORT DIRECTOR OF MINT.
55
The following statement shows the amount of deposits, earnings,
and expenditures, also the percentage of net expenses to deposits
during the fiscal year 1908:
ASSAY OFFICE OF THE IGNITED STATES AT ST. LOITI8, MO.
The value of deposits of bullion for the fiscal year 1908 at this office
aggregated $442,285.23, showing a gain in value of deposits compared
with those of 1907 of $182,270.56.
The receipt of domestic gold bullion amounted to S90.705 standard
ounces of gold and 1 15.96 standard ounces of silver; of jeweler’s bars,
2,341.716 standard ounces of gold and 670.80 standard ounces of
silver; foreign bullion unrefined contained 186.821 standard ounces
of gold anil 326.25 standard ounces of silver; uncurrent domestic gold
coin, 17,319.833 standard ounces of gold. _
There were assayed 333 melts of gold deposits. There were 43
special bullion assavs for which a charge of $2 each w’as made, and 28
ore assays were made for gold and silver for which a charge of S3
each was imposed. , ,
The weight of the bullion received was 25,209.13 ounces before
melting and after melting 25,067.29 ounces, an average loss in meltmg
being 0.562 per cent. . . ,
The working force of this office consists of assayer in charge and
one cieriv imuu-/. r . .
The following statement shows the amount of deposits, earnings,
and expenditures, also percentage of net earnings to deposits during
the fiscal year 1908:
Item.
Amount.
Deposits:
. $440,985.90
$442,285.23
586. ti2
3, 791.CS
Percentage of net expenses to deposits, 0. 1 5hW>.
ASSAY OFFICE OF THE UNITED STATES AT DEADW'OOD, S. DAK.
There were deposited in this office during the fiscal year 1908 241
deposits of bullion, ull from the Black Hills of South Dakota, valued
at SI *>78 °27 12
There were 4 button assavs, 38 ore assays, 7 assays made on mass
melts, and 21 assays made for the Forest Service in addition to the
241 assays on bullion deposited.
56
REPORT DIRECTOR OP MIST.
There were aho 6 assavs for goid and direr and 4 on base of each
of 16 samples of bullion received from the Director of the Mini during
the rear.
The bullion received contained 138,324.53 ounces before melting:
and after melting 136,922 ounces, showing an average loss in melting
of 1.013 per cent.
The total number of employees in the assav office at the dose of
the fear*] vear was 5 mea all m the general office.
The following statement shows the amount of deposits, earning*,
and expenditures, also percentage of net expenses to deposits during
the fiscal vear 1908:
▲s&it omcE or the invited states at Seattle, wash.
There were received at this office daring the fiscal vear 1906. 2.358
depots ts of gold and 1 redeposit.
f? J^/^b tf*OTr *» ounces, m**ed into 71 Ui?er
* *JKh «• ounc^. The p»in in
S the“ ^ »* «-» «tnc«, showing an »reJW_T
gam of O.OuoO of an ounce on each deposit
pe^^SSl6 *** 01 lWling h^011 •elt*d «h! assayed was S0.0454
of the re«. the
which undoubtedlv arisA* fr, ^l^ment, the greater part of
Hn oleum, etc., from the WMtrfTnL^ °* A removaiof the
®ough huIhon^Lke **“ P"*^ **
l 1 £ 2 UL13- “A deX^t.
fereoce in assav?. shipments to the mint, due entirely to dif-
REPORT DIRECTOR OF MINT.
57
5. A pain of $225.59 in mass melts. About $125 of this amount
should arise from the swing of the needle on eaeh of the 1,479 bars
massed during the year.
The deposit melting room grains for the year amounted to $901.16,
but none of this amount was taken to reimburse losses, as lias been the
custom in previous years.
Of the 2,358 deposits received, the entire number were deposits of
gold bullion, 2,327 being crude and 31 refined. Only three of the
refined burs were of domestic production, the other 2S coming from
refineries of British Columbia.
The bullion in the melting room sing was not recovered this year,
owing to the fact that the smelting furnace installed for this purpose
was not completed in time.
The receipts from the different districts of Alaska are shown in the
following table :
Locollt).
Gold
8Uvwr.
Rtandord
ouinvt.
Coining value.
Standard
ounces.
Coining
value.
Circle .
2, 443. WC
*45. 452 78
580 47
•685.93
Cooks Inlet .... . .
3, 363. 020
02,393 04
608.53
Oil 74
Copper Hi ver . . .
6,32 5 701
117,087.46
7ia 17
835 09
Koglc .
2.900.348
65,241 68
487 10
566.81
Kovuknk . .
4. 068,9*0
86,864.78
221 19
257. 38
Koine .
208,077 810
3,778, 191 93
23, 163 09
26, 953.40
8outhoast Alaska. .
9,672.908
178, 100. Cl
1,914.90
2.228.25
Tanana ...
449, 529 235
8,303.333 46
74, 507. 38
86.099 50
Total .
081.940.703
12,087,267. 74
I 02, 109 83
118,818.70
Statement of Gold Deposits From Opekino of the Institution on July 16,
1898, to Til k ('lose of Business June 30. 1908
Number of depot! t* _
Welch!:
Troy ounces
Avoirdupois tons..
Coining value
42.10#
9,335.931. 63
820
• 1>.U»,045. 42
Origin of the Foregoing
Nome, Alaska, United States . . . S32.8ft4.746.87
Tatiana, Alaska. United Slates . . 21,959.207 40
Balance of Alaska. United States . . 7,073,656.29
Total for Alaska. United Slates . . . . 01, 917, 070. 02
British Columbia. Canada _ ....... ........... w, TOO. 910 ,'M
Yukon territory . . K4. H49. 008. no
Washington, Oregon, and other States, etc . 1,921.995.81
Total l_. .
. 158.009, 0C. 42
Attention is again called to the need of a new building. This
matter was fully taken up in the report of last year, and it is respect¬
fully recommended that the statements therein be given considera¬
tion. Owing to the recent decline in values throughout the country,
a building site could probably be obtained far cheaper now than at
any future time.
The number of employees at the end of the fiscal year was 30 (all
male), but for seven montlis of the }Tear only 25 were employed.
58
BEPORT DIRECTOR OF MINT.
The following table shows the amount of deposits, earnings, and
expenditures, together with the percentage of net expenses to deposits,
in the fiscal year 1908:
Deposits:
. - - . . *15, 786.092. 88
Silver (coining value) . 160. 100. 10
Earnings . .
Expenditures .
Percentage of net expenses to deposits. 0.14050.
*15.946,193.04
22,006.72
44,46517
PERCENTAGE OF LOSS IN MELTING.
It will be noticed there is a wide range of difference in the losses*
in melting by the various institutions. This difference is wholly due
to the character of bullion deposited, as is shown in the following
hgures 1 hese figures are from the record kept at the United States
mint at San Francisco. The record for two half years and two
years are given to show the remarkable uniformity of the losses in
the bullion that could be classified.
Description.
Half year
ending De¬
cember,
1900.
Year end¬
ing Deocm-
l*r. 1906.
Half year
ending De¬
cember,
1907.
Year end¬
ing Decem¬
ber. 1807.
Bars, kings. . .
Dust. . . .
aoncHw
a 00104
a 00115
a 001 16
.03537
.03493
.03518
.03392
L nrotortod amalgam .
.04061
.04583
.05352
.05572
Miscellaneous . . -
. 68164
. .68464
.02075
.64004
.04.303
.03923
. 01476
.01508
JMMARY <)1 OPERATIONS, WASTAGE, AND LOSS, FISCAL YEAR 1908.
at Phil ad dn 1 !i consist of the coinage mints
atSn Vvllici, at n~‘?C0’ N,eW °Tleans> and Denver; the mint
office at New York whfdi hke f *n <*ssay offi.ce; the ass8y
a refinery and thp’minn?’ Uke colna£e nunts, operates
St. Cu^’Deadwood and B?i*>->elena, < l>arlotte.
offices on the same \ rmc Qbea.tt.1®* Bullion is received at the assay
charge of one-eighth of i &t th? except that an additional
pure Wd at Uie aiiav off£ " vT* 13 m*de at the *>nner. Bullion
ment and is shinned to th, • ^eeom®s property of the Govern-
sinppcd to the nunts at the expense of the Government.
OPERATIONS.
departments of the mhitsTnd1^^8 °^rated uPon m the different
fiscal year 190S abated o^™'hcC at NW York during the
10Thc fi a/ St.anda‘'d ounces oV sflver90 Standard ounces of 8old and
« the SoTem* ^^uxes «obtaincdc
REPORT DIRECTOR OP MINT.
59
figures in tlio article showing the operations of each mint or assay
oflica are for the entire fiscal year up to Juno 30, except the opera¬
tions at the Denver mint, in which case the figures cover a period
of fifteen months.
GOLD.
Institution uikI de¬
portment.
Amount
delivered by
ujx-nnienfl
cnt.
I^pal
allowance
on amount
delivered.
Amount
returned to
•iiperinumd-
•lit.
Amount
operated
upon.
| Surplus.
Actual
wastage-
I/OM Of
legal
allow¬
ance.
riilliwlrlphln mint:
Muller tuid refiner.
Coiner .
8*ii Francisco mint:
Molu-r and refiner.
Coiner
New Orleans mini:
Welter and refiner.
Corner .
Standard
ounces.
12,864,033. MO
12,-106.(101.01(1
7, 308, MR. 7*Wfc
4, M0, 120. (CIO
111,959.8X9
Standard
cruncit.
12,KM.(,5i
0, 2 to. 34(i
7,308.863
2, 255 OtV
111. SOB
Standard
ounces.
12.803, 393. 347
12, 490, 40ft, 412
7,308,367. 004
4,610, 130. 363
113,07b. 779
Standard
ounce is.
17,223. 423.331
12, 440, 041 310
4. 147,982. 386
4,167,7 6b. (Ml
130,078.779
Standard
ounces.
Standard
ounces.
1,38a 172
286.898
496.672
Per
cent.
10. 496
1570
6.795
0.823
118.890
Denver mlnt:»
Meltcrond n«Aner.
Coiner .
New Vork usi} olAoe:
Welter and refiner.
ToUl:
Welter and
refiner . .
Coliwr .
2, 7(0, 077. fUO
2,090,697. 0UII
7,313, 46M.XKM
2.7(0.627
1,348.34a
7,213. 4AK
2,703,117.387
2,606,(120 004
7, 313, 414b 031
4, 044, 816. 626
2,082, 407. 270
7.219.079.347
489. 448
10. 308
P 3
3 1
5.2W
.764
30,361,533 t«l
io.7trt.Anu 740
30.361. £.10
V, 831.734
30.300,380,108
10, 7U(, 102 729
:i3, 768. 07V. 308
10.300,11(1 600
618.046
9 rtn
1.002, (100
.160. 534
Orand total . . . Ikl. tifU, net. mi
40.213 W4
At). 0U3. 413. 267:61,955, 189. 028 (08. 100
2.2 IflH.MS
SILVER.
PtillKlrlphla mint:
Molteratid refiner.
11,000,801.48
6,274,300 60
20,336,248. 31
22,763,002.50
H, 406, .Vec 43
7,012,01120
u,3j;i,8av4y
10,846,271 00
6,676,08120
17.649.79
11.705,630.93
9,011,532.81
5, 709. 45 .
Coiner . .
San Francisco mine
Welter and refiner.
«, 27126
39.801 37
0,273, 740 12
20, 348, 772. At»
6,774, 26a 60
21,(125, 645, 06
520.48
12.524 25 .
8 295
Coiner .
New Orleans n nut:
Welter mid refiner.
Coiner .
Denver mlnt;a
Mel ter and refiner.
Collier .
22, 7U1. 00
12,609.67
7,012 01
17,0011.70
10,846.27
8,613.02
22,763,618. 31
7 Ilil.llMlI
7, 008,988. (JO
11,346,24101
10,841,211.40
5,076,377.39
30,401,848.95
8, 400, ,‘188. 43
7,012,014.30
13,801,087. 07
10,711,586.29
5,535,753.30
11,438.62
10,38138
I.029.K
3. 026. 00
6,063.29
45.017
15.306
39.747
40082
New York aasuv ofllco:
Walter mid refiner.
1,293 19
Total:
Mclt< r and
rellnor....
63, 451,387 01
06,177.06
62,492,008.32
58,980,907 33
31.CU5 41
1.939 93
Coiner .
47. 406, 462. 08
47,496. 44
47. 477, 4AM. 11
44, WU, 710. (H
18,993 66
Orand total .
I2U, 047,839. 90
142,673.40
109. 900. 536. 75
103,980,017.37
31.025. 41
30,923.58
« From April 1, 1907, to Juno 30, 19UB.
60
REPORT DIRECTOR OF MINT.
INGOTS MADE AND COIN PRODUCED.
The melts of gold and silver made for ingots, number condemned
upon as follows1466 °f finished coin Produc<,d front ingots operated
Coinage mints.
San Francisco.
New Orleans. .
Denver .
Gold.
Silver.
Melts of gold In¬
gots.
Percentage
of finished
coin pro-
Melts of silver In¬
gots.
Percentage
of finished
coin pro¬
duced from
ingots oper¬
ated upon.
Made.
Con¬
demned.
dooed from
Ingots oper¬
ated upon.
Made.
Con¬
demned.
2,341
1,480
2
5
57
5 1.97
5R.5S
1,485
1,571
031
1 701
57.10
57.70
438
5
Cl 93
54.06
• 61.00
4,270
07
6, GW
7
—
—
_
7 !
WASTAGE AND LOSS ON SALE OF SWEEPS.
mnM10 of the precious metals wasted in the metallurgical anil
mechanical departments was $54,222 20 A loss of r ife "
Items.
Mint at —
Amy
Phliadcl- San
phia. Francisco.
- '
New
, Orleans.
Denver.
Ofilop at Total.
Now York.
Melter and rsW’s gold wastage
Melter and refiner's silver wastage
Coiner s gold wastage . . ^
Coiner's silver w as t *\ |*p
325, 118. 4h 00,24a 41
5,313. 45 l.iii tg'
, 5,647 57
1,135.87 2.078 25
SO 88.85'
.
$1,026.34 S3.5, 381V 23
L«ts on sale of sweeps
i, 550. 24
503.27
SI, 319. 74
2,588. 18
580 Of,
10 07ft 10
Total. .
2,307.47 7,334.81
Paid as follows:
31.8^ 01 18,710 00
3,102 30
4.497.87
3,303. 81 1 61,557.01
From contingent appropriation
From parting and reiln ng *T
proprution *
30,701. 12 18,040. 40
3,102 30
4,340. 17
Total..
1,091.70 fioo CO
148.70
3,303.81 i 5,303.06
31,832.01 18,710.00
3,102 30
4,407.87
3,308.81 1 61,557.01
follows :
-re gains *“»
in bullion, as
Character of gains.
rreciom rru-uli lnymill?tivli otTll’in ■
sns ?,:is
| FiaeoJjear
T.ut.7.:.7"™ "”m * *Jxi w
S29.7V7.58
31. 152.39
5,066 66
60.016.65
BKPOBT DIBECTOB OF MINT.
61
Deducting the incidental orains on bullion from the value of the
total operative wastage and Joss on sale of sweeps, there has been a
net gain in the operations of the mints during the fiscal vear of
$4,459.64.
RECEIPTS AND DISPOSITION OF GOLD BULLION, FISCAL YEAR 1908.
RECEIPTS.
The receipts of gold bullion at the mints and assav offices aggre¬
gated $326,630,042.44, as shown by the following table:
Institution.
Dr pod ted.
Itr deposited.
Total.
Depod U.
Cncurrent
United
States ooln
tmmfrm <1
for ro-
ooinage.
Surplus
bullion
recovered
Receipts
from «isny
oflleas.
Government
ban.
Philadelphia . . .
San F ronctK o . .
New Orleans
Denver. . . .
Now York _
SI $13,220 68
34.222.00003
«T.l 075.28
14 1-4 4 .y 1 57
131. 792. 031 07
1.707.300. 10
1.725, 131. 53
$50,016.02
230.580 00
440.031 48
1,104 707.35
15. TVS 106 2$
13,725. 112.71
812 54
•41,003 30
l> 2. 15$. 10
'2,47063
14,091.00
191.78
118.649.309.71 $80,396.700 58
19,017,60101 ... .
$104,585,526.98
.53,302,575.58
863,554.01
14,150,355. 57
131.702,226.75
1,707.309. 16
1,725.366.62
851.235. 76
220.080.73
440,085.90
1.105,032 70
15.786.002 88
Carson... .
Helena..
23109
. .
Boise . .
318.84
100.64
Charlotte .
8t. Louis.. .
5142
215.35
896. 60
Deadwood .
Seattle . .
Total. ..
2rM 757. 649. 24
3. 7K. 925. 25 22.763-65
37,667.003.72 80.300,700.58
326.030,042 44
a Of this amount $223.74 was gain on United Stains light weight coin melted.
» Of this amount $3.2* was gain on United Sutra light weight coin mcllrd.
< Of this amount I9-3S wn s gain on shipments to Philadelphia mint.
deposition.
The disposition of gold bullion contained in the above table is as
follows :
luUtutlo. £SgH
depositor, coinage.
Bars
exchanged
for coin.
Coinage.
Wastage.
Total.
Philadelphia . $308,387. 19 . 115.67506
San Kranetseo. 30. 4S1 Go . 9. 021 15
New Orleans 15 170 27' $ ’1 108. 30 077 111
$6,045,611.09
15,004.92)
$120. 377. 377. SO
45,421. 000. 00
$in.3S4.2i
$130,742.032 60
45.480. 403.91
37.264.73
31.457.212 50
Denver .. 11.900 01 . 3.0” 85
3i. 440. 00ft 00 i.3iflL74l
Canon . l.6V>.M7.X7 . l.ftv,.5W7.R7
Helena . 20.70ft 16 l.to.llU'l . ... . 1,680, OK 40
Boise . 860.838. 21 . . Hrti.ft38.2l
Charlotte . 23O.C*0i73 . 220.6*0 73
St. Louis . 425,88164 . 425. 38164
Deadwood . 1,145.330 52 . . i, 145.33052
Seattle . 1,54815,17,361,802.31... . 10 03 17,363,361.00
Total.
3,448,568 51
110186.7;
ll 48.047.38 64.012,602 01
. | ia «j
77 W 12, 74 L 2'.
107.238,377.50' 12.74L25 383.047,155 03
62
BEPOBT DIBECTOR OF MINT.
BALANCES, RECEIPTS, AND DISBURSEMENTS.
Balance of gold bullion on hand June 30, 1907, and receipts, dis¬
bursements, and balances June 30. 1908, at the mints and assay
offices are shown in the following tame:
Institution.
Balance on
bond June 30,
1907.
Receipts dur¬
ing fiscal year
1908.
Total.
Disbursements
i during fiscal
year 1908.
Balance an
hand June 30,
1906.
Philadelphia .
S3S.fi03.9SR. 70
38,171.578. 01
1.243,716.93
23, 109, 19a 11
32,938,974.33
83,925. 59
49,456.70
48,487. 71
SUM.5S5.526.96
53,302,575.38
863,554.91
14, 159, .355 57
131, 7V2, 226. 73
1,707.399.16
1143, 479, 515. 68
91.474.15150
2. 107. 27L S4
37 , 26S, 545 6S
164,731,201.08
1,791.324.75
1,774,82122
W9. 72! 47
23), Awft 73
461, 1 19. 03
1,19'.. 861. 2S
18,514,174.00
1 - *
8136, 742, 032. 66
45,486, 491 91
37. 261 73
31,457,212 50
156,862.905 07
1.655,597.87
1,689. 935. 40
800,938.21
220.689.73
425.384.64
1, 145,33a 52
116,737.481(12
45,967.659.68
2,070,007. 11
5,811,33118
7,868,296.01
135. 726 88
San Francisco .
New Orleans .
Denver .
New York .
Carson .
Helena .
Boise .
Charlotte.. .
1, 72a, 366. 52
851,235.76
220 . Ml. 73
440.985.90
1, 195,032. 70
191 Ttf, f„) . .
84,887. 82
38,785 26
St. Louis .
Dead wood . . .
Seattle .
20.13113
828.58
2,728,081. 12
35, 734 39
50.521.76
1*, < !*>, W— NS
17,36.4 561. 69
1, 150,81231
Total . |
137, 288, 36a 91
326.630,042.44
463,918,401 35 ,
383, 947, 155. 93
79,971,247.4 2
COST OF MAINTENANCE.
The deposits, earnings, and expenditures of the minor assay
offices during the fiscal year 1 908 were as follows :
Institutions.
Number of
deposits
Value of de¬
posits of gold
and silver.
Earnings.
Expendi¬
tures.
Pcrcemagc
of net ex¬
penses to
deposits.
Careon .
Boise ...
870
11,761,080.54
13,621.63
811,445. 10
13.913 .**
23,090. U9
4.585 99
3,791. 62
0.04443
Helena _
Charlotte...
1,549
880
*80,306.80
1,779,113 34
2,815.54
3,)«2.53
LJOOfiO
1.079(K
L6U657
.75^6
.46015
fit. Louis .
Dead wood. .
212
333
221.9HMJ6
442,285. 23
819.77
580.62
Seattle .
241
1.27*, 227. 12
2.023.57
8,020 39
Total
2.358
15,946,193 04
22,006.72
44,485.17
.14030
6,443
22,309,285. 13
35,820. 39
109,332.84
FREIGHT CHARGES ON BULLION AND COIN.
to the m int^ am}1 u pon coSnfrfn ^!?n s*pppet* from tIie minor offices
the fiscal year amounted to S!™1" t0 ^ *S3*7 °fficeS durin"
REPORT DIRECTOR OF MINT.
63
MOVEMENT OF .GOLD FROM TIIE PORT OF NEW YORK.
The superintendent of the United States assay office at New York
has prepared the following tables, giving exports of gold through
the port of New York:
Statement op United States Gold Coin and Gold Bullion Exported from
tue Port of New York to Europe during the Fiscal Year ended June
30, 1908.
Description.
France.
Enid and-
Germany.
United States mini . .
tl. 065. 000
14,000
110. MO. 000
Forcljm coins .
4M.U00
United States assay office bars .
25,318.230
3,017,628
12, 285,000
Bullion In ore _ 1 . .
272
Total . . 26,837.230 3.021,900 23,135,000
*S2,9W,229
Grand total of exports to Europe .
64
BEPOBT DIBECTOB OF MINT.
During the same period there were shipped to West Indies, Mexico,
Central and South America, Cuba, etc., the following:
United States coin . . . . . 12.238,420
Foreign coins . . 1,275,593
Total gold exports to other ports . .
Grand total of gold exports . . . .
The imports during the same period were as follows:
From Europe:
United States coins . . . .
Foreign coins . ... . . ...
Bullion . . .
Bullion in ore . . . . .
. S3.514.013
*21. 553.058
v :mux,4
64.MH.ttt3
14.713
Total gold imports to Europe _ ..... <
From other ports (West Indies, Mexico, Central and SouLh America, and Cabo):
l Dltfd Slates ooin ... ...... .. .. 7 ran
J2ro,n . ' 1
In on* on l luje bullion . . . '87S 323
Total gold imports from other ports . 15. 194 786
Grand total of gold Imports . 110, 707, 274
During the same period there was exported to England copper
matte contammg 17.65 ounces fine gold and 52,114 ounces of fine
salver.
NET EXPORTS UNITED STATES GOLD COIN.
Th^ net exports of United States gold coin sinee January 1 1&70,
are as follows: ’
Jan. 1 to July 1, LS70.
^77"- I
is72 .
1873 .
1874 .
1875 .
1876... .
Imports. Exports.
1SS4.
1885..
1887.
18SS. .
17,325,783
3 054.859
K 307,550
7.577,422
4. 790.630
8.112.265
3,824,092
3,352.000
1.687 231
5.862 509
5.1M.512
1,403.019
1 . 949. 552
2 824.146
16,384.230 Fiscal reer-Confd.
" 1MI3..
1893 .
t»l .
W, .
J8W. .
1897 .
1808 _
1SOT .
1900 .
1001 .
1902 _
35.491 71©
40.391.357
35,661.863
28.766,943
39.309.770
27.S42.8ol
2t.274.5W
6.427,251
4, 130, 311
1.687,973
1,741,364
20,8115.289
4,802,454
12.342.6C1
2,345,809
5.400.976
3.550.770
3,211 .390
4 143.939
3.951.736
67,704.900
1904 .
1905.. .
1906. ..
1907 . . . .
1908. . . .
Total.
Net exports. .
i Imports.
Exports.
$42,841,063
101. M4.087
64. 303.840
55, 0[fc>.639
77.789 892
23.646.565
8.402. 216
27. 428.587
30,674.511
6,425.947
9.370.811
18,041, M»
15,682.424
54,409.014
20,573.572
22.632.283
28,246,170
STOCK OK MONEY IN TUB UNITED STATES.
REPORT DIRECTOR OF MI5T-
65
fWwrrn Tabu or Stock or Coot n t*k IT sited Snns Jrxi 30, 1J06.
GokL
SBrtr.
Total.
Fn^— *.-« r<-c "</w, iTtn» ar? :*r - fl.atmn
**.?<£. 3*
C. 027. ct5.cn
M mark l oiled 9U*~c*n. tni ywMOS...^ ..
Crtted ampora Dan tbr P^y-
V«UB
U^SM30
•39.7*5
».7»
c&tad'jw wr,nCxs
2U.3A.ffiS
■ ■ —
Total. . . - . I.SC.6».9fiC
nA.S3.K7
*9.»,n
^^Tnfaed BUieaooU oartted far reeotna** Cfaor «»n*)_ 4.0Bft,«n
aru . A5Q0 »-
1.WLK2
Wtt.000
A.IS3.AB
AAoa,ooo
1.20,96!
8.753,451
g«-k rfcrfs m the railed BxaM. Janr3ft. WK. . l.S*S.l*.32S
nA.AU.3M
... «a
: 5SSUSSTT4S2.’E££ !=S™!j-»
Bcuiox ix Musts jlxd Assay Omcia Jcx* 30, 190S.
Ctan »ad boaao.
Js*30, W*.
Jan.30.Wt. Jan.30.Wt.
Jane 30.1307.
June 30, IMS.
fl^L^ .
31,327.672,472
S1.3S7.SM.IK SL£2.»^»
Sl.ffiA.0SA.632
U, CIS, 1 ffi, 575
7a.ffii.3K
SdTW . .
®C. JKJ.Z77
<**,404, 1« «S7.»5(N«0
7UA.330. 224
Total .
2,010, <65, 9ffi
2, 044. *2, AM 2.10,964,129
2,171.3*®*
2.US.73S.170
Owner.- mr or Gold and Silvkb in the United States June 30, 1908.
Slhrwcotn and boUkm.
Total told
and niter
coin and
bullion.
Onenhlp.
Hljta
SOtw
dollars.
Sabodiarr
mm r
Total
aaver.
United BUM Treasarr
cLtei BUM TiiekffT (far
SZlS.919.lt
126,672,430
*iJ7S,7llS
C5.177.61S
17,979,000
SS7, 809,0®
ffi5.278.70S
S27R, 728,214
1.248.255.324
otmflcalee au v.-l*ndin«) - • -
National banks ,Juij 15)... -
National hanks (lor cW*r-
( SS«*
13,521, 001
u.su;»5
29,036,636
IK2,«9,KB
57.Ei.000
lMvaic banks and indind-
Oab.
ffia.S37.Q4
62.807.6S6
IQs 662,330
171. 400, UN.
573.807,800
Total .
1.615,140,573
dflK.2SB.S12 147.355,7X1
7,979.000
•7SS.594.3K
2.338,735, 170
<>4472-
66
REPOST DIRECTOR OF MIST.
E*nXATrp,3T?K~ Gou> **5 SlLVE* « Totd States avd to* Akocxt
r** Cajtta at to* Clock of sack Fiscal Ykak since IS7SL
TetalcHsiadbuUae.
P*e r*p
ffeal jw coded JazvJD-
SS*w.
Gold.
SKne.
TUI
1C1 .
1S74 . .
suB.coe.aoo
H7.SV.Cfl
l3i.U4.WB
uo.hb.k-
*MS4S
era
U 13
B>
iss ... . . . .
ISC. . ..
IS?. . . *
ii KJ .OCO
o.U7,«»
MJU.CS
uabt.hb
H.41S.HC
144
23
z»
-*
.44
1«
119
14
1CS.._ .
1ST
C4S.HB
47 444,000
M? 401,47?
2U.1H.CT
m.bmat
aB.oc.Mr
111
4. 47
L3
L H
' 1 53
IS
UH.
MB. . * . .
JJ.gJ.5W
2c.:u,«:
aa.Mijw
Cfc.«4.UB
20B.7S7.71S
H3.733.oa
117^154,141
IHAff.CT
14C
IB
IS
7.4B
497
1*£
ua. ..
ISM . .
UBS
«!sm5
U.H.600
HBU.flno
V La rw\
171.JM.1M VZ3
2M,£7.U. « C
2K.B07.B* lu M
255408,10 |B
141
1C
IM
145
B3
as
U 44
u a
USB.. .
us. • -
cr.H».aoo
2H.H7.BBB
£.77M«I
**£}7* 10 to
JU.B3AM IIS
1H
244
| us
1172
ISfe .
• wtS*
<MrTD.SK
Mss.m.m
11. IS
A 00
1 IT U
UH .
Ui» .
UH . .
r. ’3»!oco
704. 614, «S
S:S:S
JH.cn. loo
CK.Hs.O
40,31 Bit
1L7*
11 OB
11 b
144
IS
7.H
14 S
ITBfc
UH
UBS.
g*E:’®S
♦hac.sb
SS.2T.7H
MU 1
U IS i
AH
111
&M
US
mn.: . —
UH . . .
*AK|W
04.944,0®
OSAC.B®
04.C4,«0
SS5
|:S:S
HBrSBT.BM
Hi.SH.4M
£.5S?
13B
IX
IU;
12 43
uu
bO
uk.!!!;; . .
BK.H4.M9
0,73* C71
B.1B
1C !
14 BT
j- j4
«» .
72, 957. WD
5J422.W0
7B.HB.HB
WB.SB.SC
n<! s* 731
B«
ii as
4.74
454 1
u 2
uh . . .
woo . — - -
80414.7®
. Be.SK.SiB
«7r47?.:«
09 JM -q
uu
MW.... .
IMS . .
MOB.
^-*600
57.7H.BH
59.lir.BBB
•0.AC.HD
l.CM.UB.SM
l.U«.BE3.ns
1. IBS, HS, 407
1.SH.3S2.TO
JrK7.8H.lBI
1.C3 9B&.S0B
1, Hs.au <25
MU.lcS
fcclai.Ho
H1.2HBH
HB^H.MS
1147
ICC
liar
442
4®
&B
nc
2K
13
mb..;;;; .
fcl.8t7.00B
s,r*.a®
M BB2.HB
•AT4.0W
*7.HB,BW
C7.4to.H3
Beja.rr
BM.4D1.MB
1143
lie
UK
&M
IS
is !
as
:l .
XU
H7.BH.90D
7HAJ0.2S
734W4D6
17 40
17-48
IS- 44
115
230
- •-
&s
sa
67
REPOBT DIBECTOB OF MINT.
THE WORLD’S STOCK OF MONEY.
Tho monetary systems of the different countries of the world, an
cstimatToT^ approximate stock of gold silver and uncovered
nauer with per capita of each at the close of the calendar year 1907,
Lroset forthPin the following table, compiled from official information
f,,r as received and, in the absence of such information, from
“he? sources regarded as reliable. In some instances it has been
impossible to find any information whatever and recourse in such
cases has been had to the estimates of the previous year.
1
2
3
4
5
rt
7
8
B
10
11
12
IS
14
15
18
17
18
IB
90
B
B
23
24
25
26
27
28
29
30
31
B
B
34
35
B
37
38
30
40
41
42
43
44
45
46
47
REPORT DIRECTOR OF MINT.
xd Approximate Stocks of Monet, in the Aggregate,
Monetary
standard
Monetary unit
Gold.. DoUar .
..do _ Crown .
..do..
. .do. .
-.do..
..do..
..do..
..do..
..do. .
..do...
- .do. _
. .do -
. .do _
. .do _
..do -
..do....
.do....
. .do _
..do.
.do _
Pound sterling...
Dollar .
Pound sterling...
Pound sterling
and rupee.
Pound sterling.. .
Lev .
Peseta _
Crown _
Plaster...
Markka*
Franc.
Mark .
Drachma. .
Gourde . .
Yen .
Peso .
Florin...
Crown . .
Mllrru.
LH .
Rouble.
Dinar..
Tlcal .
Por ■-
...do....
...do _ _
.
..do - Peso...
-do ... Bolivar.
...do - Peseta.
-.do.... Crown .
..do - Franc
-do - 1 Raster.
Silvers.. Peso...
Paeo. . .
Boliviano .......
Mllrris.. _
Peso .
Dollar .
Sucre .
Pound sterling .
Florin . . . .
Franc .
Tael..
Stock of gold.
In banks
and public
66,800 -81,131.700
40. BOO * 226,200
7,300 * 20,800
4,800
6,000
44.600
205,200
7.700
5.400
4.000
2,000
2,600
11,200
2. BOO
3B,300
60.600
2,600
1.500
33,700
52,300
13.600
5.700
2.300
6.400
6.700
1(3.40)
2.700
6, 100
6.000
2.300
18.000
3.400
4.500
1.300
300
100
100
700
4.600
1.100
2.600
19.600
5.300
3,200
24,000
4.700
330.100
* 144,700
B 66,300
B 162, 000
*13,200
B 33, 600
* 1,500
B 7,200
B 38.200
BIS. 400
4 7,300
/ 4.900
B. 520, BOO
*147.000
*600
*1.0)0
*258,200
*83,800
*26.800
*36,900
*7,300
*5,500
/ 18, 700
*597.400
*3.000
*100
*127. 100
*400
*50,600
*36.500
*100
*1,800
*100
8
*100
*2,900
*15,500
*87.800
*19,000
*25,500
*10,300
*1,300
<«>
1,338.300 3,985,500 3,029,100 7,014,600
3458.000
*76,900
4 10,000
*14.600
. <*)
*402. .50)
4100,000
*15,000
(<)
>.700
v <e)
*405,500
*897,400
1
420.000
*6,800
*4,600
*3,100
*310,* *900
*1,900
<4
*12,700
*3,200
*3,500
*121,600
*1,400
Thousand-
$1,812,700
*303,100
*4 30.800 ,
*159,300
*66,300
*564,500
*4113,200
*48.600
*1,500
*7,200
*38,200
*18,400
4 140. 000
/ 4,900
*926,40)
*1,044,400
*600
*1,000
*258/200
*95,800
*446.80)
*43,700
*11,90)
*8.600
/ 18,700
*917.300
*4,900
*100
*139.80)
*40)
*50.600
*36.300
*100
*3,700
*100
%
100
.*0,800
*15.30)
*300
*87,(0)
*22,300
*29,000
*121.900
*2.700
(*)
• In United States Treasury and national banks.
* Official Information furnished through United States reorvaeutalin
fNo Information.
4 Estimate, Bureau of the Mint
REPORT DIRECTOR OF MINT. 69
and Per Capita, in toe Principal Countries op the World, December 31. 1907.
« Includes Straits Settlements, the Malay States, and Johore.
70
REPORT DIRECTOR OF MINT.
In the foregoing table the total amount of gold in the banks of
issue and in the public treasuries exhibits an increase of $220 600 000
over the amount held at the close of the calendar year 1906. The
increase of the stock of £old held for monetary purposes is $ 1 25 000 000
over that of the previous year. The increases and decreases over
table^tlmatCS f°r t"1' t“ <’I1( ar ■Vl'ar 1906 are shown in the following
Country.
Increase.
IXcreaac. Country.
Increase.
Decrease.
United State* _
tl9.400.000
12,200.000
i;. i/ am
S3, 300. 000 N ore-ay .
S3, 000, 000
2,766,000
100.000
37, 1(W. 000
29.400.000
34,500,000
’ii, «oo, 000
700,000
Australasia
Canada .
United Kingdom
India .
South Africa
34.300,000
3,900,000
77.8UO.OUO
300, OUO Kouraania.
. Kuala . I.”""
. 6trrla . *
224.i6o.ono Argentina
2,000,000
22, 100, OUO
Strata N itlimrnli
Danmark. .
Finland _
Germany .
Greece .
Italy .
WLOOO
14, 100.000
42. 700, 000
15. TOO. 000
«. WO. 000 1
12,800,000 Uracil. ..
. t bite . j.;;;;;;’
4,300,000 Guiana (Dutch)
200.000 Spain .
. Sweden
5, 000,000 Turkey...
'200,000
3,100.000
400,000
Japan .
Mexico..
. -A .
40(5,600.000
279,900,000
Nat increase. 1125,700,000. ‘ -
gold and silver used ns- industrial arts in the united states
durino the calendar year 1907.
trite it « r
States assay office at New York hold til f Phla ?n<. the
quently the lamer portion of ^ thf foremost places; conse-
brougHt under government nnti<*» <, a,tena* consumed in the arts is
The Olkming table mVel “he vatuen1? of,Pu,bIic record,
of the silver bars Issued bv thp t(l°. a.n^ the quantity
refineries during the calendar year iso; ™1 ““Ututlona amJ private
JACTCRID btPeivIte IRKnsEwLT^B°UKKi^“™J IsarmrnoNa and Maxc-
tub Calendar Yeah 1907, B IN 711 * Industrial Arts during
Material used.
Gold.
TotaL
Silver.
TotaL
Government
institutions.
Private ntw
OnFiles.
1 tan r; mi i , t
Institutions.
Private re¬
fineries.
Domestic bullion..
ForNgm inAtrriiil
United stahw
coin..
Old jewelry..
Total....
•15.302,007. 18
14,301,615.
4. 721, 540. «
*284,017 ou
965.00
„ 309, 184.00
2, 430, cat oo
- - 1
*13.646,924,18
Hfi02, 57a 54
. 369,184.00
‘.177. 574. 98
F**4 OZt.
2, 503, ML 77
1.764,616,75
008,673.67
Fmtoa.
14,928,029.00
2,863,591.00
1,500.00
1,623,807.00
Fine oct.
17,431.690.77
4, 628, 207. 75
1,500 00
2. 2X2. TM 1.7
- J _ ’ “I *''W0'm7D1 876, 952. 10 19,416,967.00 24,293,939.19
REPORT DIRECTOR OF MINT.
71
The total amount of gold and silver coin estimated to have been
used in the arts during the calendar year was $3,500,000 and $100,000
respectively; changing the above table so that it will include these
amounts will make the total industrial consumption for 1907 as fol¬
lows:
Material used.
Gold.
Silver.
Domestic bullion.. .
Foreign material .
$15, 546,024
14, 502,571
3,500,000
7,177,575
Fine ox.
17,431,001
4, 02b, 208
77,34 4
2,232.541
Old material .
ToUl .
40,727,070
24,300,784
72
BEPORT DIRECTOR OF MINT.
Gold and Silver Bars Furnished for Use in Manufactures and trp
Classification of the Mates, al Uses, »t
GOLD.
New material.
United States
coin.
$3, 300, 000
2,700.000
2,500,000
4,875,000
5,000,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
3,500,000
1,500,000
1,500,000
1,500,000
1,500,000
1,500,000
1,500.000
1,500,000
1.500,000
1,500,000
1,500,000
3,500,000
3,500,000
3,500,000
3,500.000
3,500,000
$0,000,000
7,000,000
7,000,000
7,810,000
0,000,000
0,738,927
7,003,480
9,090,342
9,893,057
9,086,827
10,717,472
10, 09/, 679
10,588,703
8, 354, 4S2
6, 430,073
8,481,789
7,209,787
7, 184,822
9,463,262
13,267,287
14,582,627
16.296,688
18,653,025
19,944,365
12,298,459
20,559,910
18,667,804
15, 546, 924
$1,267, COO
1,547,800
671.500
194.500
385.500
178,913
638,003
384,122
718,800
291,258
771,086
804,254
643,585
471,027
316,804
613,981
437.641
344,90b
584,903
685.642
851,673
953,597
7,131.577
3,562,060
10,452,037
14,502,571
78,875,000 305,196,391 1 50,296,545
SILVER (FINE OUNCE8).
1880..
1881..
1882..
464,003
154,687
154,687
154,687
154.687
154.687
154.687
154,687
154,687
154,087
154,687
154,687
154,687
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77,344
77.344
77.344
77.344
77,344
77,344
77,344
3,480.467 1
3,867,188
4,563,281
4,906,920
3,570,143
3, 480, 469
3,511,310
2,804,635
3,173,208
5.010,218
5,644,4a'.
5,525, 155
5,037,642
5,572,006
5,082,064
0.635,085
7,500.323
0,100,777
7,116,009
9.417,981
8.388,668
10, 423, 485
11.800,418
15,236,711
15,016,256
10,629,834
10,580,307
15,231.628
17,431,001
273,023
286,045
340,544
119,883
502,734
48,501
638,562
506,505
597,082
508,930
963,254
871,610
, 966,643
1,346,320
750, 824
762,942
821,387
610,579
4S0, 1«0
529, 137
940,450
1,038,409
1,289,623
954,930
1.218,122
2, 754,003
2.734.1S7
L62S.20S
4,004,274
5,004,913
5.402.151
3,850,713
4, 137,800
3,714,498
3.597.&M
3,834.490
5, 701,987
6.308.102
6,643,006
6,703,845
6,693,336
6,505,724
7.472,853
8. 429, 009
7.059,508
7.809.102
9,984.485
8,995,139
11,441,279
12,926,171 I
16,603.678 I
10.048,530
17,925,300 |
19.411,654
18,043, 159
22,137,243
112J4S
137,672
164,0*5
434,395
131,484
357,472
312,580
371, 719
504. 31S
472,582
495,077
063,707
500,706
945.787
944, 504
1,005,902
832.860
853,457
734,233
1,583,078
1.776,000
1.7 — „ _
2,741,331
3,919.728
2.554,087
4.280,023
3,810,1(15
2,232,541
I 4,716,422
5,142,585
5,500,810
4,285.308
4,209,374
4,071.970
3,910, 47.1
4,200,200
6.206,305
6, 780, 684
7,138,173
7,427,552
7,194,042
7,451,511
8.417.357
'•», l> ’■..'.I I
7, 892, 31 »S
8,063.389
10,718,718
10,578,817
13,217,285
14, 133,094
19,345,009
19,968,250
20. 479,987
23,700.077
21,853.214
24,360,784
73
The Tftkw and outapamikm of bus iasoed for use in the indiastriai
Arte kjk government institutions daring the fiscal year 1906. were
EB.aa.xcn
«k a
tx»a» a
L~m.n
EXCB AXGE or FIXE GOLD BUS FOE GOLD COIN 15B GOLD BCUJOJ.
The raise of the fine gold bars furnished to the trade in exchange
f or gold coin and bullion monthlr, br the United States mint at
Philadelphia and assay office at New 'Sort, for the fiscal year 1906,
w as as follows:
LME W.«B.9LS SAOACLLS « JH3 ETTMaW MLC1M
r.ar uaxc lmmu a* » MMfl *^&.u
KWS KLME LXI . C* is KM ■
aac ■,*» i. ua nr* am«
askaax B,aka7 3 aanxa a«44 blab » ~
artM £n.aa ariaa, a«* a*a « jams
a«3 xaama Lai-am a.m x.m.a aw
oacia o,ir.«x » t®-*r x.s
THE WORLD 4* IXMaTllAL CONSUMPTION OF THE PRECIOUS METALS IX
1907.
This bureau estimates the world s consumptk/n of the prrrious
metals in arts during the calendar year 1907 as follows . Gold.
*4 the ralue of $135,046,500, equivalent to 6,532,874 ounces, tine: and
salver, 92,568,300 minces, fine, of the commercial value of $61 ,U9o,0< 5.
In *~stirnAt+* onlv new material is taken into account.
PRODUCT OF GOLD AND SILVER Df THE UNITED STATES IN 1907.
The detailed statistics of the product of gold and silver in die United
States for the calendar year 1907 «rere presented in a special report to
the Secretary of the Treasury.
74
REPORT DIRECTOR OF MINT.
the pr°duct am°ng Producing S<»'« «nd Terri.
ArrmoirMATt I>isTWBrno.v it Peoductxo States axd Teeejtories of thb p.^
cct of Gold and Silve. « the Cxited States foe w« rSSSSi Y^i l5?
[As attacatad br the Diracter of Lke IQkLJ
world’s coin* age.
mation recerreil . e.Sibui^t he coma^s^of^1 ^ lat^St infor~
the worid during the caWTiar veanflQ^ varJOUS c°untnes of
lowing is a summary of the sL£?^ 190 ’ 1906’ “d 1907- The fol-
Coixace of Xatio.vs.
CA1
Gt*L
SOrrr-
1 SM
tMS.K4.3S;
**kxsa;»
4_
Si remora
ISS.SMO m
S3.wSi.S34
BEPOBT DIBECTOB OF MINT.
75
information on these subjects, it was especially requested that each
country report the amount of such recoinages. This has been done
in many instances, but not in all.
Coinage op Gold and 8ilvb» of tue Mints op thb Would by Calendar Years
since 1873.
1*73 .
1874 .
1875..
1876 .
1877 .
!">
1»7'J
1880
1881.
1882
1883
1884
188.»
IBM.
18»7
1888
188#
1880
1*1.
lhV2
1*3
1000
1001..
1002
J9U3
1004 .
12, 462.800
ft, 408. 270
0, 4*0. *2
10, 300,016
0,763,106
ft, 113,202
4, 300, 167
7,242,061
7,111,861
4.822, H61
>,071,882
4,610,061
4,632,273
4,376,310
6,046, S10
6,522.340
>.170,611
7.219,725
5.782.463
8,343,387
11.243.342
11.025,680
11,176,853
0,476,039
21,174.850
10,131,244
22,546,101
17.170,063
12,001,537
10,002,008
11,634,166
22,031,285
11,888,037
17,721.058
19,021.014
3237,630,802
135,778,387
105,087,428
213,110,278
201,010,466
188,386,611
*,752, 611
140,725,081
147,015,275
09,607,170
104.645,114
09, 432, 705
05.757,582
04,642,070
124,902, 465
134,828.865
168,001,519
149.244.0U5
110,534,122
172. 473. 124
232.420.517
227,021,032
231,087.436
106.800.517
437,722.002
305, 477,005
466,110,614
354, 09<), 407
246,003.767
220.406.125
240,400.547
455, 427. 063
245,054,257
366,320.788
411,803,902
101,741,421
70,610,875
02,747,118
97, *#,.525
hS. 440, 700
124,671,870
81,124,555
66,442,074
83.539,051
86,685,000
M, 541, 004
74, 120, 127
08,044, 475
06,566.844
126,388,502
104,334,000
107.788,256
117, 7», 228
100.0U2.040
120.282,047
106,007,763
87,472,523
08,128,832
123,304,230
120,775,082
115,461,(00
128, 566,167
143,302,046
107, 439.
149. KJ6, 726
161,150,508
136.518.400
134,062.314
120, 33ft. 501
171.434,008
371,251,464 7,074,448,023 3,654,041,273
$131 , 544, 464
102,031, 232
119,018,407
126,577, lb4
114.350.332
161,101,013
104,888,113
84,011,074
108,010,080
110,785,034
100.306,705
05.832,084
126,764.574
124,854,101
163,411,307
134,022,344
130.302.506
152,293, 144
IS, 294.387
156.517,347
137,052,000
113,005,788
126,873,642
ISO. 640,027
167, 700, 006
149,282,086
166,226.064
185,358,156
13*. «1 1,801
193,715 362
211,705,829
176, 508,646
173.333,003
155,500,466
221,662,820
FOREIGN COINS MELTED BY VARIOUS COUNTRIES.
The foreign gold and silver coins melted by the various countries
of the worla during the calendar years 1905, 1906, and 1907, so far as
have been reported to this bureau, are exhibited in the following
table :
Country.
1006,
1006.
1007.
Oold.
Sllrer.
Gold.
Sllrer.
Gold.
Silver.
$250,132
28, 912
3,102,733
United State*
UMn^nuiutarv .
Great Britain
$1,213,050
136,606
$5,431,321
85,604
34,022
$21,753,024
300,347
$501,068
12,427
1,260,846
$12,330,023
207,274
Germany
2, \77, 456
8,056,407
4,000,384
India 7
1.338
Italy .
2,146
Japan
10,307
240,556
7,306
0,480.630
6,357,208
1,718
Mexico.
4,003, 714
633,418
34,870
Peru
Portugal
12, sis
15,640
lluv.la
822,846
Slam
902.806
168.057
Turkny .
9, ffii. 065
0,210,706
Total .
3,778,883 j 0, 3*2,089
55,700,581
1,804,507
31,477,963
3,040,768
76
kepobt DIRECTOR OF VTYT
UNITED STATES GOLD COIX5 IMPORTED AXD MELTED BY YAEIOU^
COUNTRIES.
The following table shows the amount of _» .
safe sawrttt:-- ,he Tajue * ,be unitS
ap^^rfbe'^oioX^^111 ^t1 ««M*.
countries of the worid fcHhe calefdi “fo^* p'7nciPAj
so far as has been reponed S, ttobG^**” 19°°' I906’ “d iM7'
report director of mint.
VALUES OF FOREIGN COINS.
77
Treasury Department,
Office of the Secretary,
T _ , Washington, October 1, 1908.
UiQ? £ufSURlnce of ^ Provisions of section 25 of the act of August 2S
|Tn ' proclaim the following estimate bv the Dire. tof of the
Talues “f foreign coins to be the vah.es of such coins in
terms of the money of account of the United u . e u i »n
George B. Cortelyou, Secretary.
VALUES OF FOREIGN COINS.
Country
Standard
Monetary unit.
Valu«
Intern
OfU.S
gold
dollar
I
is
>• Coins.
Argentine Republic . . .
Gold. .
. Peso
$0.0AS
’ G2Ji»inIKt“nfiV,n<‘ “»* i W-
pmUne. bliver: Peso and divl-
Austria-Hungary .
...do _
Crown .
203
Belgium .
mmr- 1
Bolivia .
811 ver...
Gold. .
. .do .
Boliviano . . .
.183
.382
Gfrwjcs.° 1111(1 20 francs- 5
Silver boliviano and divisions.
a“™:
Brttlih possessions. N.
^JESt* N"-
Central American
States—
Costa Rica .
Milrels . .
Dollar .
• 540
...do .
Colon.
G<o$' 2* St 10, *°d 2t' colons (18.307).
Silver: 5, 10. 25. and 50 oentimoa.
British Honduras. .
.do .
Dollar
1.000
Honduras .
j Silver . .
Gold
Nicaragua .
Peso.
.382
SUven Peso and divisions.
Salvador .
Chile. .
(
/Amoy ... .
Canton .
• MS
.628
.824
G?l«:acSSCT,tl0 <**■«&. doubloon
(S3A50), and condor ( 17.300). sil¬
ver: Peso and divisions.
China.. . .
Silver..
Tael.
Cheefoo
Chin Klang.
Fuchau.
H a 1 k w a n
(customs).
Hankow .
Kiaochow ...
Nankin...
.309
.612
.579
• 837
.586
.607
.630
New Chwong .
SSb:
.587
.602
.610
.572
.578
.630
'
Shanghai
Swatow.. ... .
Takan .
•
Dollar. I
Tientsin .
Hongkong..
British.....
.607
.112
.412
.413
1.000
.268
.487
1943
Colombia
Gold. ..
Hollar
Mexican -
Gold: Condor (19.647) and double¬
condor. Silver: Peso.
Gold: 10 and 20 crowns.
Gobi: 10 sums (H-UOM). SUven
Sum* and divisions
Gold Pound ( 100 plasters), 5. 10, 30.
and 50 plasters. Silver 1, 2 6
10, and a) plasters.
(t3-85®)' 10
Denmark
Ecuador .
Egypt..
Finland.
..do .
Crown .
..do .
..do .
Sucre .
Pound (100 plasters)..
Mark
**T
78
BJEPOBT DIRECTOB OF MIUT.
VALUE8 OF FOREIGN COIN8-Contlnn»d.
Country.
_ n Empire _
Great Britain .
Greece .
Haiti . .
India (British) .
Italy .
Japan .
Newfoundland.
Norway .
Philippine Islands
Portugal... .
Russia... .
Spain. .
Straits S
Sweden . .
Switzerland
Turkey...
Uruguay..
..do .
.do .
.do.
.do.
-do .
Monetary unit.
Mark .
Pound sterling...
Drachma .
Gourde. .........
Pound sterling « . .
Lira .
Yen .
Dollar..
Peso*.
Value
Interim
of U. 8.
A
.do. .
do .
.do. .
Dollar. .
Balboa..
Kran...
Libra...
*0.193
.238
4.806*
.193
.965
4.8661
.193
Gold: 5,
10 20, 50,
5 francs.
and 100 £
do . Peao. .
do .
Peseta .
Pound sterling*. .
1.000
.496
1.014
.268
L 000
4.8661
.500
LOW
.515
1.0M
.193
Gold: 5, 10, and 20 marks.
Gold: Sovereign (pound sterling)
Gold: 5. 10, 20, 50, and 100 drachmas.
Silver 5 drachmas.
Gold: 1, 2, 6, and 10 gourdes. Sil¬
ver: Gourde and divisions.
Gold: Sovereign (pound sterling).
Silver Rupee and divisions.
Gold: S. 10, 2b, 50, and 100 lire. Sil¬
ver 5 lire.
Gold: 5, 10, and 20 yen. Silver: 10,
20, and 50 ten.
Gold: 5 and 10 pesos. Silver Dol¬
lar < or peso and divisions.
Gold: 10 florins.
and divisions.
Gold: 2 dollars (*2.028).
Gold: 10 and 20 crowns.
Gold: 1, 24. 5, 10, and 20 balboas.
Silver Peso and divisions.
Gold: J, 1, and 2 tomans (*3.409).
Sliver. J, }, l 2, and 5 krans.
GoMyand 1 libra. 8Urrr: Sol and
Silver: 2), 1 florin
ror peso: 10. 20. and 50 centavos.
Id: 1, 2. 5, and 10 mllreis.
Id: 5, 7*. 10, and 15 rubles. Sfl-
rr: 5, 10, 15, 20. 25, 50. and 100
copeks.
Gold: 25 pesetas. Silver 5 pesetas.
°sUd^is&ni^rLfi-
Gold: 10 and 20 crowns.
GoWk 2S, 50, 100, 250, and 500 pias-
Gold: Peso. Silver Peso and divi¬
sions.
Gold : 5, 10. 20. 50, and 100 bolivars.
Silver ' 5 bohvars.
■ “’“"’•"I but a. rap. IKJM,, „ u„ 0UTO>t ^ „ „ to
hw b«o v^^oflo J6t£!s|! 18 ^ sUtw oo government a.
it account and which
market 'SL'tfS to5f^JB5J£TBroo®“ •* thc mxmst
BEPOBT DIBECTOB OF MINT.
Changes in the Values of Foreign Coins during 1908.
79
Country.
Bolivia .
Central American States...
China .
Do . '
Do .
Do .
Do . .
Do .
Do .
Do .
Do .
Do . .
Do . . ..'
Do .
Do .
Do .
Do .
Do . .
Do .
Do .
Do . .
Persia . .
Monetary unit.
Silver boliviano .
Silver peso .
Silver tael, Amoy .
Silver tad. Canton. . . .
Silver tael, Chetoo .
Silver tad, Chinklanc. .
Silver tori, Fucbau .
Silver tad, Ilalkwan (customs)
Silver tael, Hankow _
Silver tad, Kiachow. . .
Silver tad. Nankin... .
Silver tad, Niuchwanc.
Silver tad, NInr~ ~
Silver tad, Tei
Silver tad, Shi_.r _
Silver tad, Swatow.
Silver tad, Takau .
Silver tod, Tientsin .
Silver dollar (llongkonc).
Silver dollar (British) ....
Silver dollar (Mexican). .
Silver kran .
Value, 1908.
January 1. April 1. July 1. October 1.
SO. 429
.429
.704
.702
.673
10.393
.393
.595
.655
.602
. 624
.637
.604
.648
.624
.423
.423
.427
.072
.612
.579
.637
.580
.607
MONETARY STATISTICS OF FOREIGN COUNTRIES.
. The statistics of the production and coinage of the precious metals
imports and exports of gold and silver, amount of bank and gov¬
ernment notes, both covered and uncovered, of the different foreign
countries, published annually in the reports of this bureau, are
obtained directly from the governments of such countries by the
representatives of the United States accredited to them.
A copy of the interrogatories covering the points on which informa¬
tion is sought from the governments of foreign countries is sent
yearly to the United States ambassadors and ministers through the
Department of State, and the replies in the form of reports are for¬
warded directly to the Bureau of the Mint. The interrogatories
sent are as follows:
1. What was the amount of gold coined during the calendar year 1907 by denomi¬
nations and values? What amount of this was recoinage? Domestic and foreign
coins melted given separately.
2. What was the amount or silver coined during the ealendaryear 1907 by denomi¬
nations and values? WThat amount of this was recoinage? Domestic and foreign
coins melted given separately. If any coinage was executed at foreign mints, please
give separate statement.
3. Was any coinage executed for other governments during the year 1907? If so,
state character and amount of same.
4. WTiat was the weight of line gold used in the industrial arts during the calendar
year 1907? WTiat amount of this was new gold, what amount old gold, and what
amount coins?
5. Same questions as to silver.
6. What was the import and export of gold during the calendar year 1907? (Coin,
bullion, and ore, as well as their weight and value, should bo given separately, if
Possible.) If practicable, give irajiorts and exports by countries.
7 . Same questions as to silver.
1907?^ hat WaS import of United States gold coin during the calendar year
9. WTiat was the amount of United States gold coin deposited at the mints and
melted?
10. What was the weight, expressed in kilograms fine, and the value of the gold pro¬
duced from the mines of the country during the calendar year 1907? Give the product
of the colonies of the country, naming them separately.
80
BEPOBT DIBECTOB OF MINT.
11. What was the weight, expressed in kilograms fine, of the silver produced from
the mines of the country during the calendar 1907? Also give product of the colonies
of the country.
12. What was the weight and what the value of the output of gold from the refineries
of the country during the year? Give the sources of this output if practicable.
13. Same question as to silver.
14. What, approximately, was the stock of gold coin and bullion in the country at
the close of the calendar year 1907? Give stock in public treasuries, and banka, anil in
circulation separately.
15. Same question as to silver.
16. What was the amount of government notes outstanding at the end of the year
1907?
17. What was the amount of bank notes outstanding at the end of the year 1907?
18. What was the amount of government notes outstanding not covered by legal-
tender jrold and silver coin or bullion at the end of the year 1907?
19. What was the amount of bank notes outstanding not covered by legal-tender
gold and silver coin or bullion at the end of the year 1907?
20. What was the actual currency of the country, gold, silver, or inconvertible paper?
21 . Is fold at a premium as compared with the* actual currency of the country? And
if it is, what was tnc highest, lowest, and average premium during the year 1907?
22. Wrcrc any 1uwb passed during the year 1907 affecting the coinage, issue, or legal-
tender character of the metallic or paper currency? If bo, please forward copies of the
same.
23. Is there a report published on the operations of the mint? If so, please forward
a copy of the same ; also a report of the department of mines for 1907.
EXPERIMENTS TO ASCERTAIN LOSS IN REFINING GOLD AND SILVER BY
• AIR BLAST.
A series of interesting experiments were made during the year at the
United States assay office at Seattle to ascertain the loss of gold and
silver in refining by air blast. Mr. L. S. Kerfoot, who made the ex¬
periments, reports :
Bars 2276 and 2239 were used for the experiment. Bar 2276
weighed 15.13 ounces. Four assays with synthetic proofs were care¬
fully made and the finenesses found to be:
. 526.1
^veT . 400
Tlie base was lead and copper. This bar was melted with flux in
a new pot, and lor thirty minutes an air blast was played on the sur¬
face of the metal, the metal being continually stirred during the opera-
*lon* ii °rax w®8 then added and the bar poured. The flux was very
carefully ground, panned, and the granules weighed in with the bar.
llie actual loss in melting was 0.41 of an ounce. Two assays were
marie with synthetic proofs, which showed this 0.41 loss to have been
made as follows:
Ftneonnen.
fc::™:::::::::::::::::::::::::;:;- . - .
Bas° . in?
uJ? cas? E?"r®,g°>‘1 was lost than silver, and more silver than
base d undoubtedly the higher proportion of gold and silver to
. Deposit, No. 2239 was a jewelry bar weighing 21.81 ounces. Six
} < ynthetic proofs were made, the linenesses obtained being:
Silver . . . fS*
Bua” . I:::::::::::::::::::::::;;::;;;;;;:;;;;;;;;;:;::
BEPOBT DIBECTOB OF MINT.
81
The base was practically all copper. This bar was melted in a new
pot and was exposed for thirty minutes to an air blast played on the
surface the metal being continually stirred during the operation.
It was then covered with borax and poured, the borax carefully
crushed and panned and the granules obtained therefrom weighed
m with the bar. Refining loss was 0.35 of an ounce. Four assays
with synthetic proofs shows this loss to have been divided as follows:
Gold . Fine ounce.
Silver . . 0. 067
Bue . . .
T , . . . 215
in both these experiments every precaution was taken to guard
r/fp1 niMiany 088 ,m m,etal by otl}er means than by volatilization, and
the method employed at the Helena assay office was followed as care-
fV nVP°!i u* -Th? ?otfl ,were carefully scraped after each melt
and all beads obtained therefrom weighed in with the bar.
hive assays of dust scraped from the melting room at Helena
showed a value of $55 per pound (avoirdupois).
Deposit No. 1912, a refined bar of gold fineness 993$ and silver 64
was cut into two pieces. Sample A weighed 119.40 ounces, and wa‘s
melted m a new pot with a borax cover. It was in the fire eight
minutes, and lost nothing in the process.*
Sample B, weighing 112.83 ounces, was melted in a new pot with-
out a flux. It was m the pot eight minutes and lost 0.04 of an ounce
n the operation. Both samples were then placed in a new pot, cov¬
ered with charcoal and melted. It was in the fire for fourteen
minutes and the melting loss wras 0.04 of an ounce.
In each case the pot was covered and great care was used in crush¬
ing the flux and panning the granulations therefrom. The fineness
of the bar was not appreciably changed by the meltings. As there
was no base m the original bar, the melting loss must have beon gold
and silver. 6
mSfP0?11 No’ 2261 was receivod melted on the 2d dav of June,
1908. It was a lino bar, gold 996}, silver 3j. It was melted in the
ordinary way with a cover and borax, with a loss of 0.01 of an ounce.
Un the 20th of June this bar w’as remelted without a cover of any sort.
The loss was 0.17 of an ounce. The bar was then remelted with a
covering of charcoal, with a loss of 0.12 of an ounce. The bar was
then re assayed and it was found that the fineness had not been
changed, the calculations showing a total loss in the two meltings
of 0.298 fine ounce of gold. b
The same pot was used in all throe meltings, great care being taken
to remove all particles of metal after each melting. All granules
were carefully saved and weighed in with the bar each tune. A
cover wras used on the pot in the original melting, but in the melting
with charcoal without flux no cover was used.
These experiments would indicate that a cover of charcoal will
prevent volatilization to a slight extent only.
Refined bar No. 2348, gold 996$, silver 3$, was cut into two sam¬
ples. Sample A weighed 293.15 ounces, and sample B, 275.22.
Sample A was melted with borax and was kept in a molten condition
at a high temperature for one-half of an hour, the total length of timo
m the furnace being forty-tw'o and one-half minutes. No cover w^as
64472—08 - 6
*82
REPORT DIRECTOR OF MINT.
used on the pot. Tho weight after melting was 293.15 ounces
exactly the same as before melting.
Sample B was melted with a covering of charcoal and was kept in a
molten condition for five minutes, the total time in the fumace beine-
twenty-five minutes. No cover was used on the pot. The weight
after melting was 275.18, showing a loss of 0.04 of an ounce.
In each case a pot used exclusively for fine gold was used, and °reat
t0 “I?1* 811 P,articI<,s <>f metal from the crucihleXh
d 32 “d "» 5™,,"ra -
experiment would indicate that there is no volatilization of
metal when a proper covering of borax flux is used Also that char
coal does not prevent volatilization. ' 1 Char’
ADJUSTING SCALES.
the^Ti^" adopted the San Francisco mint increasing
ity swing ?lD£\he bjhtv and causing a grav-
save pieces either side KianrT by which we are enabled to
To^xplainthis ^thil tW^hiv TJmt ^ be “
comparison with the one now in«J ' lfc 51 i necessary to make a
service. °ne n°W ln and ^ays used, in the mint
and reweighetUorco^l'ei^JtS*7 ad are separated at standard,
expense,
teats made by us the rew, !?;n fWefh,n-' thus requiring, from
which, with the present molESli'/K 20 P*r «»tof thfwork.
our method, the light and ™°U ^ a d^lav® to be reweighed. By
uniform weight, and would cS»j£h?? r?ei^le^ would be of a more
weigher in making up his drafted facilltate the work of the coin
weigl^^ach^e ^der^h^on^l^^l^ weigliing balance into a
whereas the liability of the automat! nund °f the operator,
without the knowledge of the n mac,uPe Zettin? out if order
the work. With c>ur method r?<lullres constant testing of
mrS?®uracy and in the savino- nf fh Persede the automatic machines
This description hL XenL " ISS*™*
denominations of silver only ln f ^8IU ,1In" of the different
safe hunt of standard, and m’th A -j“? 5old' "■°rki"K within a
used in this mint, the same method couMbei^.^ mackine now
REPORT DIRECTOR OF MINT.
83
USE OF CUPRIC CIILORIDE IN TOUGHENING BRITTLE MELTS OF STANDARD
GOLD AT THE MINT, PHILADELPHIA.
The following report has been submitted by David K. Tuttle,
Ph. D., melter and refiner of the mint of the United States at Phila¬
delphia, on the use of cupric chloride in toughening brittle gold ingot
melts :
The uniform success we had in the use of cupric chloride as a flux for brittle gold
leads mo to report the matter in some detail to you in the hope that it may prove serv¬
iceable in sister institutions. When the first ingot cast shows signs of brittleness,
either at the topping machine or by its want of true ring on the stamping table, tho
ingot is returned to the melt and the whole subjected to a brief treatment with tho
cupric chloride. This is kept on hand in small 2-ounce blocks and, like the n*ady
“after-dinner pill,” does its work without any special apparatus or any manipulation
beyond submerging the pellet beneath the surface of the molten gold by means of a
bell-mouthed gold stirrer, which is already hot and in use. The embrittleing metals
have volatile chlorides, and cupric chloride (Cu. Cl.,4- 2H, 0) was selected by me
because of the property it has of giving off one-half its chlorine at high temperatures.
Experiment showed that the dehydrated salt does this so quietly as to produce only a
slight bubbling in the molten gold. Fumes come off which should be fed into a flue.
A nopen-top furnace should not be used. Without submergence in the molten metaJ'the
flux would have only a superficial action and have absolutely no value as a practical
remedy. The bell-mouthed plumbago stirrer renders this easy; the action begins at
once, and in a few minutes a brittle melt is rendered perfectly tough and malleable.
If there be merit in the discovery, it lies in the having found a flux which will do
its w;ork effectively when forced to the bottom of a pot of molten metal, while only
causing enough commotion to effect a more perfect mixture of the allov.
It should supplant tho tedious toughening process by saltpeter, which cleans only a
thin film on the surface and relies on convection to bring fresh impurities to the sur¬
face of the molten mass. To say nothing of the saving in time, fuel, and labor, the
avoidance of large accumulations of bone ash sweepssnould commend the proce*« os
an improvement in methods.
We purchase the cupric chloride at 20 cents per pound in 100-pound lots. The
water of crystallization is driven off at a gentle heat (200° C. is sufficient), and then
the salt is melted at a low heat in a crucible. It is then poured into molds, or on an
iron plate, and stored for use in lumps of a few ounces in weight. In our experience,
from 2 to 5 ounces will correct a brittle melt of 6,500 ounces of standard gold in from
five to fifteen minutes.
MAKING NICKEL INGOT MELTS AND DISPOSING OF THE TROUBLESOME
OXIDES AT TIIE MINT, PHILADELPHIA.
Tho following report has been made by David K. Tuttle, Ph. D.,
on the making of nickel ingots:
With fairly pure metals there is little trouble in making good malleable nickel
ingots from the first mixture, but when it comes to remelting the clippings with their
gosRamer-like structure the great surface exposed to oxidation before the melting point
is reached causes the result to be a brittle mixture of nickel and copper oxides with the
true alloy. As a palliative, it was our practice to add only a modest percentage of
clippings to fresh metals already in a molten condition. With proper annealing of
strips during the rolling process the ingots were workable, but barely so. Some two
years ago experiments were commenced with various deoxidizing materials. Alu¬
minium and magnesium were tried, but failed to give practical results. Finally,
“manganese copper” was found to be a perfect “cure-all. ?
The addition of 10 to 30 ounces of this alloy to a 3,000-ounce melt of refractory nickel
causes a remarkable change in the working qualities of the metal. Ingots thus nude
may be rolled down to the thickness of a dime without annealing. But for this treat¬
ment in the melting room the annealing furnaces would to-day be struggling with hard,
if not brittle, nickel ingots.
While to us this matter is no longer new, interest in its application was revived
by a letter just received from Mr. Nicoll, an operative officer of the Bombay mint.
He had written asking for suggestions as to how he could overcome this trouble with
brittle nickel ingots. He writes to Mr. Morgan, my assistant, “ The very day I
84
*EPOBT DIRECTOR OF MINT,
_ ,, f ordered a uial to bf naif erf tl»e -j
SS-Saga .^r. s“H
£5 j^j^ssjssk s~» r-L- ’ ‘
maiyneige and 70 per cent copper
If contains 30 per cent
acctrate method for obtaining low gold contexts en dorf.
BULLION.
,his *“nu?1 r^ort o{ «•» Director of the Him.
f , !“*?*"* J* *^5 ?“ Francisco mint, mention is mule
ZASt1 rwntlv “^‘■d bv the assaver of that institution in
maJong determinations of low go],! contend of Dorf bullion
them^^^T™1* 1° *** ,b* ««««ey «hl advantages of
1„|57 ma,i* “« tbe request of the Director of the Mint
T7 ®:’Ld- tThe "“>« «• so highlv
s- JSfffiff sk sr ar si
would not recommend the process for such bullion He says:
t^ssSiiwtrssiitm **£»!*' i£
paid residue or small mniok« «rf the » - **** — *'«r *rfuuon faun the
«* manv «■ «?«P* £ -ddiuon. then-
I® impo^-ihlr- u> ret all erf it out of ikn ku* ^Dely-ch vjded *crm **“* 11 ** »«<
®**cS3y the JTJta This wonB to be
«PP«d that oirWl*^ w^T^TtW “u““> I‘ micht be
iron fro-tattlT to ? potMi of'cridhTtlre J^^ai™bl>.uJ)0n^ulli‘® contain me
the fact that soch bulW^c^n^^,r^!rd' but due to
• refractory nature SS^SrtS!!1 ^u*“uu™ * bn*c drat «v not of
could not be satisfarli ci I y a.'^a \'<\i Dvih f*npw amount* of pokl
vw hannltn. It aiKHwrn hnwsvir'Th1?^^’ provided the base contained therein
lively hi^h, the baf*iTS> hich £’if not hreh^^/t l^K1^
P®rtinp. This mav not hold «5j in ^nd that interferes with the
the upon which eApmmcnts have U^madi^n ^lK1 ^^T**0 ***• caw will* »H
the bullion contains a ££££y U\ b^22fi ""**»• Where
the cupel lation preen** Si be k>W“vJ ***** to enable
nitrredto as betopthe most arc urate and relia hi?!*? coosuler the method above
%S&z5?\
nwhofc. «ch beu* appUcJ «. U,c da. of buluTT, ’to"0
Respectfully,
Hon. George B. C'ortelyou.
Secretary of the Treasury.
Frank A. Leach.
Director of the Mint.
YPPENDIX.
nag X BEBBagSB 11 8 KS BBBBSSBSBSSC:
86
BEPORT DIRECTOR OF MINT.
No. 1.— Domestic Production, Deposits, and Purchases of Gold, by
[Verified wi th the
Locality and description
of deposits.
Philadelphia
SanFrancisoc
, New Or-
L leans.
Denver.
New York.
Alabama .
Stand, oc.
21182
Stand, or.
Stand, or.
0. 86S
Stand. «.
Stand, or.
2S0 Ofci
1,309. 714
336.521
89.584
325.831
58.968.556
11614
885. 7oi
17,474. 430
292.612
. 440,950.332
451.399
California .
Colorado . ...
Georgia .
Idaho _ ' .
281)528; 302
20. 642
181.533
72.179
10,505.019
17a 590
Michigan _ . . .
Montana . !.!!!.
Nevada .
New Mexico .
North Carolina .
5. OHS
114.412
25. 174
163. 407
9.2S8
53,901.257
29.275
.807
751.350
2,114.989
1,728. 415
3.00a 800
6tt 739
1.229
2,936. 976
2,293.91X2
3,766.714
120.636
417.075
Oregon . . . .
Sooth Carolina .
130.531
10 466
1.346
. 311001
11,090.208
24.791
Texas .
Utah .
Virginia . .
54.543
. 35-506
1940
16.739
"ii, 060. 027'
260,028.926
”‘i7,77i.94i
Washington .
.
. i7.*227
. .
..............
W yarning .
Porto Rico .
. i50.'742
Philippine .
Other . . "
. 7.146
251838
. aoi.wi
. iiio'
. 47.' ire'
8.141
.
.
Total domestic .
Domestic bullion refinery
4,111134
4,047.560
432,210.281
204.762
4S5,4S3.294
254,922. 145
298,652.535
bars
400,773.414
Domestic bullion refined ....
.
1,286,386.674
13,867.882
1,833,455.224
Total domestic bul¬
lion.
8,760. 700
1,718,596. 955
204.762
754,273.301
2,532,88L173
Domestic coin mutilated _
Domestic coin transferred. . .
8,482 645
139,818.360
547.821
3,268.850
2,669.268
76.410
42,246. 54S
Forrijn bullion unrefined
Foreign bullion refined. ..."
14,471964
39,473 585
38,519.085
248.694
225,648.730
Jewelers’ ban, old plate, etc.
Surplus bullion. ..... .
65,470.544
6,7».38S
3,01&1S0
2,749. 710
2,011.480
1>I9 ^jh
’656)677 660
251,604.426
Deposit melting room grains
46. 739
44’ 818
119.302
11886
439.448
316.318
10.308
544.466
Total deposits .
237,302. 686
1.842,817.229
46,411087
761,065.361 7
,083,663.007
Redeposits—
Mint baja' .
3,415,437. 149
909,375.514
1,050,456.727
21X083
Un parted bars
1.082,196.' 215 ;
.
. 1.
.
. V.\
. i48.'2si'J
Total rodepo&lls .
5,384,209 300
1.022.196 215 .
169.184
Total gold .
5,621,472.076 (
2,865,011444
46,416.067
781,085.361 7,083,832.191
REPORT DIRECTOR OF MINT.
87
\\ KIQirr, AT Co LN AO IS Ml NTH AMO AhHAY OFFICER DURING THE FlBCAL YEAR 1908.
bullion aocounta.]
C&raon.
Dolan.
Union*.
Charlotte
At. Loul*.
Dead wood
Seattle.
Total.
Stand. ot.
i5, 284.' 678
Stand, ot
30,830.364
* 285 200
Stand, ot.
. io.KM
6ii.7V2
*84, *300.' 843
Stand, ot.
0.478
064. 4tti
Stand, oc.
. 66.0i4
87.004
Stand, ot.
Stand, ot.
’ »18i, 040.700
. . i74.*278
16.601
“i.oiiao
Stand, ot.
33.028
742,607.770
46,264. 807
308,111.410
441.24fl.M9
080.302
34,230.444
1.220
3,704. 661
4,*ikoh6
JS
*>. 754.
138,213.751 1
0,862.063 j
4,417.028 I
*’ii.433
. 4L0TO
::::::::::::
04, 230.308 *
:::::::::::::
20,009.010 1
45.424 1
324,321. 7rt2 1
5040 I
36, W . 087 1
.
001.430
318.001 l!
1,614.174 11
185 2X2 a
.
.
1.673
47. 178 21
215 061 £
2IQ.021 2 !
01.74A. 44A
45,730.021
80,060.302
4,833.466
0,024.388
142. 108
748.607
2,001.032
04,220.308
084,714.007
2,201,114.213 24
2.402
008,015113 21
a, iM(fi7.i 284 Si
01,740.446
26. am
46,730.021
80,060.302
2, 477. m
. 74.878*
11,767.843
*402
97. m
3,861.737
17,310.831
*180. «ii*
2,341. 711,
04,220.308
084,717.000
4.422
14U.i78.473
13,016.178
61. 018
0,005,803.010 27
71,303.207 28
143,087.110 20
470,205 487 30
3,387.004.874 31
735637.023 32
333,100.367 33
12. 050
48.102
000162 34
1,065066 36
01,772.706
46, 764. 060
01, an. 000
11,802.070
23,703.032
04,232.068
848, 400. 180
11,148,000.370 30
3,415468.082 37
■
1,117.470 .
3. 306
000,376 614 38
2, OX.’, 022 (128 39
01,772.700
16,764.060
02, 738. 470 i
1,802.070
23, 7U3.U32
04,232.068 I
448,602. 664
0, 407, 765 024 40
17,660,365000 J 41
»•*•>! N U UV It IJ M Hum tltttik' BlHIV
m
*,nTiux
BEPOBT DIKECTOR OF MINT.
89
at Coinage Mints and Assay Offices during the Fiscal Year 1908.
(Arson.
Bota*.
TT«Un»
ChmrlotU.
SC Loan.
marl wood.
Seattle.
Total.
tm. a
ujmfmja
841,949 HI
5, 732, 304. U>
8, XW. 239. SI
1S.239.S5
637, ou. *
*22 . »
1,609,858. 73
X671.419.18
127.480 06
K2.177 26
496,067 33
845. 10
6,033,894.16
110.51
667,590 40 !
5,916.10 1
28, 17D 61
3,466.71
877. 73
4,096. »
4,885.96
097. M
$1,03.53
1,620.35
*12,687307.74
*284, 3UV4S
3,242.38
298 W
12.17A 02
6573, 608. 00
11,419.36
19,441.54
5,307.10
1A70.173A2
68,921.85
120.61
102.50
1,422,545.12
76,' 882. 74
267, 809.88
10,464.83
650.38
*1,194.79735
212.65
75.90
.
.
.
3,88(620
6,07A 63
.
.
17,887.18
1 .
29.20
1,706,910.60
850,916.92
1^5686209
89.924. 73
r
2.643 87
13,927 39
55,088.96
1,194, 797. »
12,738^75.25
40.960.956. 77
12,428,206.75
58,356,71X25
46.36
1,706,910.0)
4NV56
850,916 92
1,656,862.08
218, 75D 54
71,66022
322,229.00
1,194. 797. »
12,738.921 M
8X29
111,735,877 77
1,327,087.13
2.00X085 n
8, 748,027 58
03.036,323.23
13.684. 426 4il
0,198, W0 17
1X840 07
14,836. 16
46,086.24
3,470 64
2, 775,413 45
253,305 64
949.17
16,401.52 |
7.48
1,82X07
1,393.06
43,566 62
318.84
234.00
100.64
64.42
225.35
896.60 !
1,707,390.16
851,235.76
1,704^76.38
220,689.73
440,985.90
1,195.03X 70
15.7T&Q3028 |
207 415,984a
1
63.543.400.17
16,918,614.21
«, 752, 037. 73
20,790.14
62.00
20,790.14
6X00
1 19 Jl 4.058 11
1,707 399 16
851,236.76
1,726,366.62
220,089.73
440,985 90
1,196,03X70
15,786,092.88
336,630.042 44
tS88«ti 8 82 BBBBSStJSKSCCi
£±$ S SSSSSTBaSSSSSi S8S eassss:
<)Q
REPOnT DIRECTOR OF MINT.
No. 8.— Domestic Production, Depohit*, and Pijkciiamem or Silver, uy
[Verified with the
Locality and description of
depoaiU.
Ben Fran-
claoo.
New
Orleana.
Denver.
New York.
Bland, or.
0.17
47.40
;v*. mu
61.47
■Hi. Hi
61. *0
4 M.T2
1,410. W
.26
126.20
If
;il <7
an
.76
.17
Stand, or.
Stand, or.
3.84
1.2*
016 81
Bland, or.
Bland, or.
Alaaka .
0,061(0
1I.4WV.04
64.600 .12
3.07
37.20
6,604.30
l*.W
227, 083. (W
72.88
fll.86
1,276.04
60.07
Artiona .
California..
Idaho .
62.76
8114
0.04
10,012 24
10,272.07
1,706.20
102,642.80
27. 66
136 47
Mulligan. .
ZOO
1 4, 260. 02
2.40
246. 70
480.87
£87.50
.20
2. 454. VI
1.01
Koiitli Dakota.. .
1.80
20.67
70,5(0.32
Taua . .
.20
0 tali .
7.73
2,200. IB
43.62
Virginia... .
131.21
Washington .
Z V6
Wyoming .
a. 60
18.14
I'orto Itk-o . .
11*
7.10
rhlllnpliiM. . .
2.00
41.00
48.77
Other..... .
Total dome* tie .
Domestic bullion refinery lure
Domestic bullion refined .
Total domestic bullion. .
Domicile coin mutilated
DamealU- coin transferred
Trade dollar* .
Ilillipplim uay cotna .
I’hlllnpin* rut it* for rocolnaco
2, KOI. 77
410.01162
2. 10V, 732. 27
80,474.16
021.34
*37, t**7. 70
10, 420. 00
4, 000, 04a 00
274,815 06
471,715 37
2. 700, 430. 73
2, 701, 240. 01
4. 303, tea 21
2,62V. 140 20
2. 601. 23
74&,Ma «)
122.07
2,70tt2O
2.880,716 30
7a 70
70, U18. W
4,304,647.66
ICO. 4!i
48,00130
4.266,06151
01.27
3,462,008.00
0, 861,801. 7ft
1,080,01*. 70
Foreign bullion, unrefined .
F oral an bullion, refined ...
730,1*0.00
21,46a 70
ioas4
1,070,002. W
34I.V01 00
no, 6 H 84
627, M2. 78
1,203.1V
762.85
Konwgn coin .
Jewelers' Ur*, old plate, etc
Hurplu* bullion . .
2W.74
90, 378. 66
22.548.80
60,006 04
12,624. 25
7Z83
00,677.83
4,078.67
2,600.80
11,438.62
167.01
Dejnelt melting-room grain*. .
Total dopaalta .
23. V6
17.04
4, 110, OUR. 20
13,003. 107 42
4.636.700 48
4,300,430.67
5,458,06625
nodapoaiU:
Kino Iwn .
2,039.61
08.871 10
2,466,040.70
400. 402. 62
140, 328. V5
46,043.37
86,470.71
Mint l»ar* .
I'nparted ban . . .
29.30
Total rede pool U .
Total ailvar . .
2.620.800.4*
086,75184
86,600.07
0, 07, 66(1. 74
14,078,872.20
4.636,700.48
4,300, 430.67
6,644,16612
At
44
BEPOBT DIBECTOB OF MINT.
91
Weight, at Coinage Mints and Assay Oitices during the Fiscal Year 1908.
Cum.
Bote.
Helena.
Charlotte.
St. Louis.
Dead wood.
Seattle.
TotaL
Stand. os.
Stand, m.
Bund. at.
Stand, oz.
12.55
Stand, oz.
Stand, of.
Stand, oz.
Stand, oz.
22.50
108,830.81
18,110.31
71,348.66
327, 77 A 50
00.25
16.010.03
30,420.23
54.37L70
48.66L27
163,138.30
1,248.13
10,62(186
7.76
151,008.70
.20
3,263.16
. L'ii
15.00
74.79
102,100.83
15.286 ®i
35.12
AM
47.80
17,022.57
134-61
236.30
30.46
43,834.15
1,145. 86
-64
3.05
30,845.56
1,188.01
.
.
. 75-30*
7, M3. 10
7.01
71,477.84
1.87
.36
48 13
85.28
45A48
502.84
2L70
A 13
57.06
4L73 :
.
.
.
. w
.
46,132.44
! 25,00.66
45,181.30
1,250.40
00. 78
71,477.84
102,021 36
097,805.20 :
464.07
25.18
16, (SiOTA 87 ‘
40,132.44
25,0(3.00
45, 181.38
1,721.37
115.06
71,477 84
102,021 30
17,000,05880 !
2,888.00
.
12267 I
3,700.20 1
001.78
320.25
34,236.03
9.651,801.76 (
2, M7, 764. 40 i
344,001.00
U<j on tA
34.01
31.02
070.80
093,675.05 1
16.67
4 45
1.07
. i*«
17.38
8.04
2> . 2T-o. 06 J
1,07 A 40 3
40, 132.44 23,060.25 43,882.23
1,754.30
1,11862
71,400.22
137,585.50
32,790,723.80 J
»*»C /vy> 71 «
.
300 40
.50
218 13 -4
2,502.' 22A 57 4
300.40
.50
3,298,432.44 4
46,132.44
25,060.35
40,188.66
1,754.30
1,116.62
71,486.22
137,580.00
36,005,156.24 4
92
REPORT DIRECTOR OF MINT.
No. 4.— Domestic Production*, Dbposith, and Purchases or Silver, by
Locality and description of
deposits.
Philadel¬
phia.
Son ^ran-
New
Orleans.
Denver.
New York.
ST. 18
55. 23
OIH9
59 80
30 .84
mm
StO. 87
1.64A86
.29
145. 70
a 4k
36.85
10.60
.87
.20
*4 47
1.43
718 58
Alaska .
Arisons . .
California .
Colorado .
*7,742.87
13,366.27
63,418.55
a. 67
*•13.36
6,406.07
116.11
381,304 64
*84.81
71.97
1,484 73
65.94
Idaho .
61.38
97.91
7.03
22,123 33
11,952.95
2. ft« 06
180,140.71
32.06
157.64
Montana .
Nevada .
New Mexico. . . .
2 33
16,688 82
2.86
.30
285.90
570.03
GR3 70
Oregon .
South Carolina.. .
South Dakota. . .
Tex as .
2,857.79
2.22
2.09
.23
30-92
02,511.79
Utah ......
9.00
3,734 00
50.64
Virginia .
152.68
Washington...
3.43
Wyoming . .
Porto Rico. ... . .
4.14
21. 11
Philippines.. . _
Other .
2 33
48.48
66.75
4 81
837
Total domestic _ .
Domestic bullion, refinery bars.
Domestic bullion refined ...
Total domestic bullion...
Domestic coin, mutilated
Domestic coin, transferred . .
Trade dollars .
Philippine assay coins. . ..
Philippine oolns for recotnage.
Foreign bullion, unrefined .
Foreign bullion, refined _
3,260 24
484,787.80
2,454,962. 00
104,116. 71
3.247,989.42
723.01
5,112,932 32
393,294.87
12,132.88
4,662,272.00
319,785 84
541,940.07
3,149,308.20
2,943,010 04
3,015.25 .
8f57.680.58 |
142.74
4,410.42
850,257.00
3,352,106.13
89 25
W, 238. 06
5,113,655.33
188 75
65,929.37
5, 067, 099. 81
71.29
4,018,03411
11.463.91477
1,267,914 22
24,960.81
187. 17
1,245,792 15
401 339.35
70,46181
613, 879. 60
1,60480
878 04
Foreign coin .
Jewelers' bars, old plate, etc. . .
Surplus bullion .
Deposit melting-room grains...
337. IS
114,476.86
27 87
26,238 60
68,730.22
14,573.67
84 73
77,472.3s
5,793125
19.82
2,986.82
13,310.28
163.40
Total deposits . 1
Redeposits:
Fine bars .
Mint ban .
Unparted bars .
Total redeposits .
Total silver.
4.783,357.97
16.282,888 64
5.278.017.71
5.084,438 77
6,151,889 86
2,373.25
80.144.50
2,857,828.99
570,754 92
. 1
99,456.83
227,225.92
3416
2.940,346. 74
797,980 84
99. 490 99
7,723,704 71
17,080,800.48
5,278,017.71 |5,084, 438 77 6.451,380.85
No. 5.— Bars Manufactured or Gold and Silver,
Description.
Philadelphia.
Ran Fran¬
cisco.
Nvw Or¬
leans.
Denver.
New York.
COLD.
Fine bars .
Stand oz.
341 ,257. 630
Stand, or.
2,444 900
Stand, oz.
Stand, oz.
Stand, os.
Mint bars .
Standard bon .
815.886
597.064
5,474,830. 692
619,661570
Total gold .
354,704 OfiA
869,063.384
341,257.630
2,444 900
815.886
597.664
- ■ - 1
1 7,218,263 714
SILVER.
Flno bora .
1 701 in
1,149,232.79
2,15227
Mint Wars . .
1 , UoO, ttil. 1U
2,19866
3,084.085,82
Total silver .
1,025,321.40
1,149,232.79
2,16227
2,19866
5,533,39420
REPORT DIRECTOR OF MINT.
93
Vauje, at Coinage Mints and Assay Offices during the Fiscal Year 1908.
'
Carson.
Boise
Helena.
Charlotte.
Bt. Louis.
Dead wood.
Seattle.
Total.
514.00
520.25
. 1
5131
518.00
.
11 18. 818. 70
126, 700. 31
87.03
21,073 81
*17,788.37 j
40.87
82,907.52
0.56
381,411.55
56. (M
115. 49
519,808.08
3136
144.88
27497
20,957. 12
.
80i 995.37’
1,333.48
. .74’
23.772.19
63,208.94
1 a5.9w.6i
3 55
56,(04 01
189,833.76
1,452 37
1,383.40
9,242.05
87. (B
12,358.82
8.15
9.02
583, 174.20
175,719.20
.23
2.18
.42
3,797 14
152.68 ,
♦
67.17
99.23
530.01
689.84
25 25
4 81
67.45
08
48.56
53.(81.38
29,141.74
52,574.09
1,401.98
541.05
105 63
29.30
83,17420
119,763.02
1.161.082 31
1,046,411 10
18,027,464 00
53,081. 3S
29, 141.74
52,574.09
2,003.03
134.93
83,174 20
119, 763. 0B
20,834,977.41
3,3(0.64
1,012,848.00
142.74 <
4 410. 42
11,463,91477
3.430. 126 US
401,339 35
174,612.28
807.186.54
29,388.75
1,25! 46
770.07
379.64
39.864 93
.34
40 27
37. 14
780.66
461 82
19.40
&U>
1.24
4.20
20 22
9.36
53,061. 38
29. 161 14
53,300 21
2,041.41
1,299.33
83, 194 42
1(0.099.47
38. 163, 460. 31
672,585.03
80,144 50
3.085,440.37
356.01
.69
.
1 .
350.61
.09
3.838. 175.87
53,681 38
29,161.14
53,740.82
2,041. 41
1,299.33
83, 194 42
160, 100. 16
42.001,630.18
by Weight, during tub Fiscal Year 1908.
Careon.
Boise.
Helena
Charlotte.
St. Louis.
Doadwood.
Seattle. Total.
Stand. oz. |
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
Stand, oz.
13,617 670
Stand, oz.
5,833,504.442
519, 005 670
354,704 008
2,032,891 840
0i, 772 .800
45,754 059
91,021.005
11,862 070
23,703 032
54.232 968
834,881 510
91,772.800 45,754 069
91.031 006
ll.M.J 07..
23,703 032
04,232.958
848, 499. 189
8,740,825.920
6,262,990.04
57,543 33
45, 132. 44
25,060.35
45.882 23
1,754 30
1,115.62
71,495.22
137,585.50
2.720,791.77
46,132.44
25,000.35
45,882.23
{ 1.754 36
1,116.62
71,495.22
137,585.50
8,041,325.04
94
REPORT DIRECTOR OF MIST.
No. 6.— Bars Maxcfactctlkd of Gold and Sana.
IVarripOoa.
San FYan-
obrtx
X«r Or-
Was.
Draw.
.N«rV«t
•OUK
Fine ban .
*43.84651
US, I7li.fr
— *
Mint ban..
Standard har* . .
Uo parted bars . .
*11.11* 34 tltl. SS7, ML 2?
. *.«s.i».*r
. . 6,30*143 6.
. »,i0&.«Zl_®.
P“11 .
«sSrs,»:9. is
43,846.51
LS.171 JT
11,110. 34
IM.3B.rS. 41
aim.
Fin* bars .
1.3J7.2S9 CK
3,301 «
Mini ban .
Standard hars
Unpartrd bars .
2,3®. 44
3,588.754 4'
•4, 03131
3.783. 144. >
Total slhrrr. . . .
i. ns, loiaa
1, 337,38a 00
3.304 48
3.338.44
4.0 S5s.7«
No. 7 — Coinage or the Mints or the United
lWaminattons.
Philadelphia
San Francisco,
Ptocw.
Value.
Fkws.
Value.
•OLD.
Douhtefarfes..
Quarter caffes
3.744,413
373, OSS
341,013
Ui4.8SS,30a00
3.73*565.00
162.30
3.165.500
uaaw
$43,316.000 00
2, h* au on
03
au-Txa.
HalldoUan
4.360,338
U0.377.3T7. 30
3.X* sou
45.431,00100
3. 170,445
>054.343
1.085,37130
1.480,136.33
1,858.064. 30
L173.SC8
1.SS«.UU11
4,315. QUO
L0N6414.Q0
Total solver
1S.330.W3
347.004 60
450,304 01
3R.707.6SS
4, 4P. 463. 35
8. US. s*
1.8*014.00
Rvtxwit nickel . .
1. 134.306 10
sai.TtK. u
One-oent hrontr
ISWMOl
sa.i7tv.su
. 1
Total minor
Total otdnaict1.
un.ss6.ai
1O46.0UK22
- .
137.133,777
134.753. SIS.,:
14.S02.13S
47.3iatu.00 j
REPORT DIRECTOR OF MINT.
95
by Value, during the Fiscal Year 1908.
Carson.
DoLso.
Helena.
Charlotte.
8t. Louis.
Dead wood.
Seattle.
Total.
*253,352.00
*108,531,791.51
0, 66V, 196. 67
6,509,145. 46
37,821,219 02
*>v\l. 235.76
11,704,576.38
*20,089.76
$440,985 90
$1,105,032 70
15,532,678 28
1,707,3W. 16
851, 235. 76
1,704,576.38
220,689.76
440,085.90
1.195,032.70
15,786,030.28
162,620,352.65
0, 124, 207 63
‘‘ss.'asi 3>
1,299 33
83,104.42
160,009.47
3,166,012.14
0,6*1 33
20, 161. 14j S3, 39R 21
2,041.41
1,299,33
83,104.42
100,099.47
9,357, 170 28
States during the Fiscal Year 1908.
New Orleans. i Denver.
Total
Pieces.
Value,
Pieces.
Value.
Pieces.
Value.
1,346,250
210, 000
483,000
*26.925,000.00
2,100,000.00
2,415,000.00
9,256,465
093,435
1,034,013
65
*185, 129,300.00
6,934,350.00
5,174,565.00
102.50
2,030.250
31,440,000.00
10,984,878
107,238,377.50
0,354,600
6,924, 000
2,988,000
*3, 177,300. 00
1,731,000.00
298,800.00
6,120,000
4,976,000
6,970,000
3,060,000.00
1,244,000 00
697,000.00
16,817,973
19.244.545
33. 103.545
8.408.960.50
4,811,136.25
3.310.354.50
16,266,600
5,207,100.00
18,066,000
5,001,000.00
00, 166,063
16,530,477.25
22,086,002
81,170,812
1ft? ttiut Q1 A
1, 134,300. 10
811,708.12
16,266,600
5,207, 100.00
20,106,250 ( 36,441,000. 00
184,007,755
1,946.008.22
215,714,86a 97
96
EEPOBT DIRECTOR OF MINT.
At mint at Philadelphia:
Peso .
50 centavo .
20 centavo .
10 centavo . .
COINAGE FOR PHILIPPINE ISLANDS.
Pieces.
5 centavo .
1 centavo .
J centavo .
Total .
At mint at San Francisco:
Peso .
Total .
COINAGE FOR MEXICO
At mint at Denver:
£0 centavo .
Pieces.
1,397,291
64472—08 - 7
08 REPORT DIRECTOR OF MINT.
No. 8. MUTILATED AND UNCURREYT DoMBRTIC GOLD AND SILVER COINS TRANS
during tub Fiscal
DcoomluattoQ
niuancLTRU man nuNCtscu
HEW ORLEANS.
KmWvtd
Irom
Treasury
Poicha— d.
Received
front
Treasury.
Purchased.
Received
from
Treasury
Purchased
OOIA
Double eagles .
Ilnfi entries
Three-ouilar ptav* . . .
sar-*'"
Fuaed cola, e< ttmalrd.
1110.6811(10
ooT.aao (w
1.4H3.W5 00
a 00
7. 4UA 00
IB (10
«a».w a. oo
».ma 00
Ki.HOa 00
1100
to, (WO 00
111 00
S44.JOO.OO
lAasaoo
1.40V 00
la 00
•n.oaoo
1,530 00
3.175 00
1100
AV 00
1.00
.
•12, 150.00
12. 740 00
31,0211 00
. i«7 50
2 00
Total gold. lot* value. .
■LTRR.
Trad# dollar* .
2.510.1S.V00
IM.9U 00
50,035.00
10.303L00
. 40,080 A0
141.00
1. OWL 00
700. 30
Ml. 00
tnoo
a. 43
u
HUudard dollars .
hurt)
>4.00
30 25
20 5"
1.70
Mali doll in
Quarter .lelliuv
Tuvaty-oenl |«l«ve«
H|ui
Half dime
Ttme-c*ni pl*rrs .
Total silver. late value
n UMAK>
Hold colas
Stiver ruins.
Hold cotmug value,
silver aulMidLary value
353, (KK. SO
AM STK 30
180. 40
U0.:» 10
M«0 10
ion 00
39, «7 30
SO, 441. 25
ISO
10. 0M (11
73. as
71.50
33.30
. 7.(Hi
«3fi. 10a 00
18,505.00
10,550 00
3.00
we. art 00
1. 414 55
103, lrt7.Su
lot «o
04. MO 00 301.35
Stmnd k .Stand, at.
lil.KIS.JWI M.4KL64S
rc. omoo i.;uoo
Stand or.
3. Jil\ H30
stand or.
547.(01
70,70
And. iC. Stand of. 1
. 2.W0.JB8
48,004.30 100 40
n.m.m * lift:. kiom
w: no 01 asta .Vi
•00. SIAM
**>S,4I A 08
$10. 103 IU
05 41
. 540,471 73
530, MU II. 100. OH
Um! ffivwr subsidiary
Gala surer subsidiary
1H.IK.MM
04,741. SO
1.108.33
3H.il
130 10
5, 7&3.&J
371108
A 17
514 70
4,740.04 1.57
REPORT DIRECTOR OF MINT. 99
PERRED FROM THE TREASURY AND PURCHASED OVER THE COUNTER FOR ReCOINAOE
100
REPORT DIRECTOR OF METT.
Xo. 9. — Assets ui> Lusnuus or the Uvite:>
LLvEILlTLEi
REPORT DIRECTOR OF MINT.
101
States Mints and Assay Offices, June 30, 1908.
ASSETS.
Gold coin.
Silver coin.
Credit with
Assistant
treasurer and
depository
Minor coin.
Minor coin¬
age metal.
Deflclen-
dea.
Total.
#
Dollar*
300,367,217.50
Dollar*.
107,337,543.25
Dollar*.
Dollar*.
1,074,425.33
Dollar*.
136,236.30
Dollar*.
13,543.82
Dollar t.
AW, 144,260.86
73.24
237,530,423.66
02,410,496.67 .
413,557.96
347,341.192 99
1,700,03.5.61
36,385,801.16
66,088,156.00
13,324,674.57
234,850.14
173,299.31
•4., 782 91
34,675.97
59,253.70
97,762.32
9,396,911 15
1,500,020.00
56,710.710.97
32,176,304.00
3,039.623.39
100.43
5,220,200 95
21,425.00
7V7.68
75.549 75
87,522.42
14,783.90
12,725 00
2.05
34.675.97
23.508. II
45,377.86
8,241,158 36
346.00
596,151,522. 13
204,964,857.94
13,667,296.57 j
1,674,425.33
136,236 30
503,158.86
905,047,744.93
LIABILITIES.
Unpaid depos¬
itors.
Minor coinage
profits.
Minor coin
metal fund.
UnDaid cent de¬
positors and sub-
treasury minor
coin transfers.
Government of
the Philippine
Islands.
Total.
$20,840 01
613. 10
73.79
569.70
$13,187 88
.
$160,000.00
$1,637,471.87
$75 75
1.996,240.27
$430,144,340. 10
349,041,22* 00
36.385,801.10
66,068,156.00
13,324,674.57
234,850. 14
173,299.31
60,782.91
34,675.97
59,253.70
07,762 32
9,306,911.15
.
b :::::::::::
. ; .
.
.
20.67
i .
22,117.27 13,187.88
160,000.00
1,637,471.87 1.996,316.02
905,047,744.93
102
REPORT DIRECTOR OF MINT.
No. 10.— Ear vinos and Expenditures op the United
EARNINGS AND GAINS.
Item.
MINTS.
Philadelphia
San New
Francisco. Orleans. Denver
Chttrjjcs for assaying and stamping
*90, 1»5. 11
2, 103. 48
«.»•« *3,400.21
5,550.91 83. 99
*34,(32.46
Seigniorage on minor .
Seigniorage of recoinage on minor coin*
1.535,029.42
2.928.87
1,193.80
474. 18
19,202. 91
2,554.00
3,149.27
2.825,503.42
m«IaLs 3 proof coins .
enarges received for mounting etc m.wioi
account wu*’ CMJ*. mi>ciai-rund
(^ar^s for the manufiicturo of medals etc .
1
gSES* grains and snwpS .
8,60599
207.28
2,211.90
98
5.970.91
14,932. 98
jss a sfiSG&ggr*
jSSJSJSSSSSUS?^ '"r «*'
SScnT,,IV'yl ‘°r ** I'lulIPPin.- Oov-
338.00
8,302.22
5.033.52
100.04
1,258.17
210.92
203. 187. 68
384.89
Ki.00
300.0
SK pimm*
rooolnage 6 a““* Kold coin for .
. 223.74, 3.28
Total. ... -
...
- - - -
3,043,234.47 1,322,582.64 2.902,540.05 J
i, 802,132.87 )
EXPENDITURES AND LOSSES.
and cjerks .
SSESSSSf*1
<Si5£opaSiion!er*t,Ve dPpartII,l'n‘v ,1,'t,or
jSsqssftsa^ai;-'--
Ixws on iWJoinage of minor'cofua
Total .
*43, 550. 00
<47. 530. 48
*40, 5 (®. 18
283. 822. 26
*27.226.10
t»,«24. 44
*36,861. 11
150,872.14
73, 118. 99
80.724.63
26, 358. 49
| 45.259.10
71.350.80
30,717 04
141,097.56
16,031.81
2. 182. 95
2,539.09
30,835. 55
3,907.92
1.233.82 .
i, 135.87
48,105 86 1.
563. 27
589.95
481 55
REPORT DIRECTOR OF MINT.
103
States Mints and Assay Offices for the Fiscal Year 1908.
EARNINGS AND GAINS.
ASSAY OFFICKS.
New York.
Carson.
Helena.
Boise.
Charlotte.
SL Louis.
Deed-
wood.
Seattle.
Total.
1107,095.77
12,056.23
*317,512.95
21,332.60
28,085.68
8,713,413-35
1,535,029.42
2.928.87
1,193.80
474 18
19,202.91
31,152. 39
29,797 58
5,066. 68
6,618.38
3,594.00
9,704 79
6,164 44
203,287 72
9,11422
227.02
*2,167.85
*3,003.66
*1,082.74
*278.96
*247.79
*1,44165
*19,86L 13
10,612.08
877. 44
873.01
3,875.73
2,05a 00
144 40
237.15
327 54
iia 16
55.83
243.79
901. 16
1,214 53
40.25
109.00
033 82
5.00
13 00
709.98
276.79
358.50
136.15
113.00
7h 78
137.35
122.00
1,248.43
25.00
31.00
294.50
170.00
146,584 CO
3,621.63
3,802.53
2,815. 55
819.77
586.62
2,023.57
22,006. 72
10,942,90a 96
EXPENDITURES AND LOSSES.
*41,726.11
33,77a 99
11,469. 9C
67,081.78
1,026.34
*5,393.34
4,058.00
1,993.70
*5, 45a 00
13,898.00
3,742.09
*3.400.00
8,160.00
2,353.88
*2,750.00
1,080.00
755.99
*3,onaoo
27a 41
515.21
*3,200.00
3,87a 00
95a 39
*9,218 88
27,920.25
7,34a 04
*222,344 72
1,044,088.97
254,589. 13
312,554 64
54,222.20
1,233.82
7,33481
48,105.86
481.55
10,887.54
2,307. 47
157,448.65
11,445.10
23,090.69
13,913.88
4,585. 99
3,791.62
8,02a 39
44,485.17
1,955,843.24
104
REPORT DIRECTOR OF MINT.
No. 11.— Imports op Gold and Silver, bt Customs Districts,
[Compiled by the Bureau of Statistics,
Customs districts.
In ore and
base bul¬
lion.
Bullion refined.
n.iHm ,. . u i 1 svuvTf. vuncf*
Charleston. S. C .
Newark. N. J
New York. N Y .
Passamaquoddv Me....
Perth Amboy. N. J..
Philadelphia, l’a.
Porto Rico .
Galveston. Tex..
EC |
New _
Tampa. Fla. .
Arizona .
Brazos de Santiago. Tex
Corpus Christ! "Tex . . .
Paso del Norte. Tex. .
Salurla, Tex .
Galveston, Tex .
Key' West. Fla.. .
Mobile. Ala . .
New Orleans. La .
986,239
25
3, 789, GW
2.245
&)9. 999
5,534
11.000
Hawaii .
Los Angeles. CoJ .
Puget Sound. Wash .
San Diego, Cal .
San Francisco. Cal..
Buffalo Creek N. Y.
Champlain. N. Y. .
Chicago. Ill. .
Detroit. Mich .
Genesee, N. Y..
Huron, Mich . .
Montana and Idaho.
Niagara. N. Y . . .
North and South Dakota
SSSffafcr.".::: *£«£
Vennont. Vt . 1J’S?
Denver, Colo . **
3,689,545
100
L'1,343
708.320
794,994
145,868
405, 828
3,367.200
11,020
69,364, 300 30,197.69i
60,547
” «, 79i
28,519
15,559
172,694
10,785
United
States.
1,955, 414
12, «
85,207
477
84,558
<*>7, m 3,858,074
2,700
1,210,955
' 202, 336
570, 412
330,060
2,761,628
1.676.292
8,308
1,757,426
5,478
Foreign.
Total
gold.
5,213
Yj
10,587,251
9,590
6.340
7.570
116,551
11,000
Dollan
412,875
1,814
1,974,347
1,906
1,992
43,404
2,961,773
‘ 862,142
100,402
468,254
150 (XI)
439,160
107
78,538,116 44,929,518
1,348,500
194,660
5,399
68,999
46,320
12,261,824
111,135,481
226,21x1
3,ii89, 545
3,765
. 9,590
6,340
13,343
720,075
116,551
2,072,681
214,951
1,367,398
465,925
3,178,456
25
5,889,571
10,553
3,759.329
3.181,967
7,879,141
100,402
478,144
150,000
1,400
850
440.442
107
565,647
13,500
210. 443
46,320
REPORT DIRECTOR OF MINT.
105
into the United States during the Yeah ending June 30, 1908
Department of Commerce and Labor.]
SILVER.
In ore and bo.se
bullion.
Refined.
Coin.
Total sliver.
United Stales. 1 Foreign.
Dollars
297,323
Ounce*
1,250,430
Dollars.
744,354
Dollars.
4,870
Dollars.
Dollars.
1,041,4.77
4,870
487
0,4»73
487
12,390
0,073
2, HO
2,728,225
2,140
6,611,315
38, If*
12,523,806
234
27,861
5,213,057
3,200,337
201,504
38,1(>8
391,249
12,523,800
234
27,861
8,190
355,301
78. 186
8,196
355,301
6,560
2,640,204
821
624, 06»»
3,155,177
3,004,431
14,411
3.500
0,560
821
3,172
1,908,884
1,063, 124
650, 134
882,510
2,118,536
4,880,475
27
566, 765
1,243,415
2. 954), 015
16
55,020
204.44 a
361,720
1,647,298
586,606
14,395
3,500
041,082
145,970
1,087,052
358,013
477,702
2,542,854
4,624,500
2,603, 160
207,367
• 0,219
112,346
3, 164, 42S
4.85.000
2, 403,073
21
990,4)4)1
24
21
8f£
989,795
24,039
10.884
3,515,447
42,012
1,084,082
24.4)39
10,884
3,539,4.25
42,015
1,084,082
10, .548
4,486
19,092
003
515
416, 410
3,817
2,329
20.587
32,431
416, 410
29,124,173 | 20,071,447
12,076,714
1,829,908
1,627,212
44.1*58.097
106
REPORT DLREC'TOR OF MINT.
So. 12. Imports op Gold and Silver, by Countries, ivro
(Complied by the Bureau of Statistic#,
Austria- Hun carv. .
A sores and Madeira [.Jan is
BHpum..
Denmark..
France . .
German r .
Gibraltar .
Onw _
Italy .
NetberiancL.
Spain . .
United Kingdom..
Bernj ini a
British Hood uras
Dominion of Canada:
Nova Scotia. N>»r Bruns¬
wick. etc _
Suebcc. Ontario, etc. .
ntish Columbia
Newtoundland and labrador
Central American Stales:
Cosu Rica .
Guatemala . . . .
Honduras . .
Nicaragua ...
Fanama .
Salvador .
GOLD.
In ocr
Coin.
Total
gold.
and base
bullion
million refined
United
States.
Foreign-
Dollars.
Ounces.
is'
Dollars.
. 375
Dollars.
2,559
DoUart.
1.660
DolUrt
1.660
2.559
375
UM.222
4.125 820
24. MO
10.339
177.705
712.135
West Indies:
British .
Cuba .
Danish .
Dutch
French
Haiu. .
Santo Domingo
&£"“■*
Colombia...
Ecuador
Guiana- British .
as
3. CCS, 77$
2.019
ffi.390.5S;
11.934
173.484
85.207
1.72S, 381
40
6. 132.086
.303.059
1,100
4.745
3.510
695
JO. 207, 060
20
4.370
236.319 5.478
2.774.650 11,902.743
1.676,292 438.626
Venezuela...
Chine*? Empire .
Japan _
Korw . ;;;;;
Australia and Tasmania
F rcnch Oceania
rbillppinr Islands
Canary Islands . .
Total. .
89, 195
11.707
129.552
I Uft
5.443
73
30.018
216.306
3.215
1.900
2.569
96 155
8.0W
192
1.521 j
1,192
4 005 '
53.765
165
3. 80.074
117 _ ■
81,037
1.510
630.339
4,414,517
66.20J
40.806
1,199
' 52.599
1.9H0.913
164.905
3.950
31.336
24,543
1,105,757
3.462
3.300
1.200
475
' 22,043
865.431
5,285.391
60,978
18,613
28.356
247.481
5,205
1.950.000
70.022
300.245
60
6,741
18,730
2.865
».1»6 44.829,
15.240
360
1,101)
5.440
3.510
5. 400
7.262, 118 69,864,678
14,575 14,595
13,114
2, 120
17
4.200
5,198
27.220
1.060. s53
1.877
64.008
1.092
1,967
2.914
H47
11,971
145,995
470,950
731.605
241.797
15.551J215
6.240.738
34,950
509,373
10.
300.954
794, 680
2. 194
G24.539
11,022.535
963.465
6,417.478
62.855
84.758
29.448
249.448
9.318
1.950.000
141.794
2,063.424
1,042.032
5 <**
44.367
55,244
148.560
472.030
4.005
1,891 127
15,240
5,562
300
518 12,261.824 148.337.321
REPORT DIRECTOR OF MINT.
109
and Silver rsox the Ukited States dukixg the Year xxoiifa JrxE 30, 190S.
Dcpartnvfnt oftonuneroe sad Labor]
« coluxi .State# mint or ussy office bars.
110
REPORT DIRECTOR OF MINT.
No. 14.— Exports, by Customs Districts and Countries, op Foreign Gold
[Compiled by the Bureau ol Statistics,
Customs districts and countries.
In ore
and base
bullion.
Bullion, refined.
Total gold.
CUSTOMS DISTRICTS.
Baltimore, Md. .. .
New York, N. Y....
Mobile. Ala .
New Orleans, La .
Ariiona . .
Paso del Norto, Tex .
Hawaii .
Puget Sound. \N ash.
San Diego, Cul .
San Francisco, Cal. . .
Buffalo Creek. NY..
Champlain. N. Y...
Detroit. Mich.. .
Huron, Mich .
Montana and Idaho
Vermont, Vt .
Total..
United Kingdom .
Bermuda .
British Honduras .
Dominion of Canada:
Quebec, Ontario, etc.
British Columbia. . .
Central American Stau-s.
Nicaragua .
Mexico .
West Indies:
British .
Cuba .
Dutch .
French .
Colombia .
Guiana— British .
Peru .
Chinese Empire .
Hongkong .
Dollars.
i‘739.583
Dollars.
‘i.’ 739. 593
15.800
1.99S
0,076
246,718
15,800
1,998
6,076
240,718
COUNTRIES.
226,439
2,236,624 2,236,882
mOHMMRRRI
British Oceania:
Australia and Tasmania
All other .
Total .
1,161,700
240
1,975
1,943
100,000
479,491
1,998
1,975
1,943
100.000
2,230,624 | 2.236,882
REPORT DIRECTOR OF MINT. HI
amd Silver from tub Uxited Stater ixjrixg the Year esmxo Juke 30, 1906.
«LVU.
In ora tnd bora
bullion.
Bullion,
refined
Cota.
I
}
Dollar*
Owact*.
rxdlan.
fj'Ulan
Dalian.
3.219,955
4, 07. 806
Z2S0
41,773
106,200
477 yg)
YY.’Y'.VY.VY’.Y*.
' ;y;
41.773
106. 300
|®j|
63,286
34. 124
007
140,411
17.241
«»7
31, 130
E
,1 J
A, 211
6.213
57.616
57,616
A.ZU
3,273,211
1,409.757
4, 447,010
3.2I0.9«
1.9111,616
. isri.'wi
. 4.4B2,‘017
. 2,430
157,630
3,127
51,603
S17.O07
. 1,430
147,630
9.340
6.2U
...
&17.O07
33» 111
A 111
* . *
. .
..
3,(JU0
9 070
.
43,2*1
34.124
143, 141
. 34,124
143, 141
740
740
229
3, So
3,160
6,213
3,273.211
1,044,940
A 406. 747
4,447.010
112 REPORT DIRECTOR OF MINT.
No 15.— Recapitulation op Imports and Exports or Bullion and Coin dumnq
the Year ending June 30, 1908.
[Compiled by the Bureau of Statistics, Department of Comment and Labor.]
Description.
Imports.
Exports.
Excess.
Imports.
Exports.
GOLD.
Contained in domestic or*. . .
$362,857
$362,857
Contained In foreign or* .
112.007. 851
$12,607,861
Domestic bullion .
41,587.015
258
28. 24ft, 170
2,236,024
41,587,015
Foreign bullion -
United State* coin .
78.Sfii.llS
44. 929.518
12.261.824
78,537. SCO
16,683.348
10,025,200
Foreign coin . .
Total . .
Excess of imports. ......
148,337,321
72,432,024
117,854,200
75.004.309
41,049,372
am.
Contained in domestic ore. .
250,063
6,213
51,080, 333
1.044,040
223, »0
3,406,757
250,00
Contained in foreign ore
Domestic bullion .
29. 124,173
20,117,060
51,989,333
Foreign bullion _
United States coin ... .
Foreign coin .
Total . .
Excess of exports .
12,07ft, 714
1,829,998
1,627,212
10,131,774
1,606, 102
1.8(0,345
44,658,007
57,021,302
40,855,836
54,118,941
13,263,105
_
REPORT DIRECTOR OF MINT.
118
No. 16.— Transit and Transshipment ok Gold and Silver in the Customs
District or New York** during the Year endino June 30, 1008.
[ Compile! by the Bureau of Statistics, Department of Commerce and Labor.]
Countries from which received and to which
shipped.
Received from—
England .
Central American States— Nicaragua. .
Mexico .
West Indies— British .
Cuba .
Colombia .
Total..
Shipped t
Franc
Germany .
Italy .
England . .
Dominion of Canada— Quebec, Ontario,
I $1,025,028
.
.
1.500
3,451,000
374. 7U5 .
£?, 410 4,477,52*
2,730
43,297
2,150
413,620
$1,025,028
4,854
59.7V7
37,791
3,451.000
377,495
4.955,965
2,150
458,417
Countries from which received and to which
shipped.
Received from—
England .
Central American Stales— Nicaragua. .
Mexico .
West Indies— British .
Cuba .
Colombia . .
Total..
Shipped to —
France. .
Germany .
Italy .
England .
Dominion of Canada— Quebec, Ontario,
331,688
$1,095
3,800.063
3,215
1,751,505
34.043
5,590,611
1,714,000
1.247,519
5,807.957
4,075
3,037.688
34.643
4.157,964 10,081,903
1,1*6,445
10,000
$2,221,473
5.949
5.607.754
41,860
0. 488.688
412. 138
15.037,868
5.959.034
1,144,137
2,150
5.711,074
1,025,028
1,186,445
10,000
« No transactions occurred Id other customs districts.
(14472 — 08 - 8
114
REPORT DIRECTOR OF MINT.
No. 17.— Seiqnioraob on tue Coinage or Silver and Disposition or the same
DURING THE FISCAL YEAR 1908.
July 1, 1007, balance on hand:
Seigniorage on subsidiary sliver: *2A3, 785 33
. . . . 971.330 M
NSiteS0::
.
Total.
• 8,713,413,35
8,967,208 (8J
Warrant No. 3075.
1171 .
i.,v,
♦ 3244
1431
1995.
1430
2855 .
2855
piiiL&nELniu.
196. 455. 12
196. 466. 13
276,131.02
514.299.08
102,279.25
155,794.93
71,391.41
42.086.58
166,000.(0
Warrant No. IW7
2867..
NAN J'RANl WH.
- 2,110,903.52
Warrant No. 1126. .
18X2.
3077
1172
1657
3245
1429.
1994
3001
655
1429.
XEM- OMJLAXS
738, 206. U)
224.315. us
57,340 21
169,146 W
140,209.27
237,870.80
237,911.38
331.945.13
417,019.29
234,148 32
247. 424 32
243.976.13
277,502.2.5
235,254.42
124, 106. 53
Warrant No. 3076
1173 .
1056
3246
3246
1430
1996
1996
654
- 2,953,850.90
121,422.35
252.380 06
12.629.99
231.2V) S3
3(0. 000. 00
490,277.04
444. ,527. 37
300, 000. 00
363.962.89
149,883.64
300,1 48. 30
r ™n?2in,.<,?poa,U*, ln Treasury.
JiiU8 30. 1908, balance on band.
Philadelphia
San Francisco.. .
VV, 872. 45
57.493 71
8.907,208.68
HEPOBT DIBBCTOB <>K MINT.
115
No. 18.— Average Price of an Ounce of Gold in London and Equivalent
Value in United States since 1870.
Calendar year.
1870 .
1871 .
1872 .
1873 .
1871 ....
1873 .
1x7..
1877
urn
1879. . .
1880
1881 ..
1882 .
1883
ISM .
1883.
188b .
1887 ...
1880 .
1880
1881 .
1882 .
1803 .
1801 .
1803 .
189b .
1887
law .
1890 .
1800 .
1801 .
1902 .
1803 .
1904 .
1805 .
190b .
1807 .
Mint price..
Rank price.
' !
Average Lon¬
don price.
Equivalent
value in
United States
gold coin of
an ounce of
gold, British
standard
(•910§).
Value in
United States
gold coin of
an ounce
1,000 fine.
Per cent
premium
i above bank
or Eng-
, land’s mini¬
mum rate.
£ ». d.
3 17 9.01
118.9187
120.038
0.00106
3 17 8.01
18.9187
20.638
.0010*.
3 17 9 24
18.9233
20.M3
.02571
3 17 9 28
18 9241
20.644
.03000
3 17 9 00
18 9185
20 638
. .02431
3 17 9 .23
18 9231
20.643
3 17 9 .30
18 9246
20.643
.08215
3 17 9.42
18 9270
20.647
.04501
3 17 9 41
18 9266
20 647
.04394
3 17 9.11
18 9207
20 640
.01178
3 17 9 15
18 9215
20 641
.01607
3 17 9 35
189256
20 646
.03751
3 17 9.43
18.9272
20 647
.04607
3 17 9 18
18 9221
20 642
.01920
3 17 9.32
18.9250
20 645
.03429
3 17 9. 17
18 9219
30.042
.01821
3 17 9. 10
18 920*.
20 640
.01071
3 17 9 01
18 9187
20.038
. OOICk.
3 17 9.21
18 9227
30 642
.01801
3 17 9 04
189193
20 039
.00428
3 17 9.44
18 9274
20.648
.0(715
3 17 10.29
18.9440
30 660
. 13826
3 17 10. 17
18 9422
20. 664
. 12542
3 17 10. 57
18 9503
20 673
. 1682b
3 17 9 33
18 9250
20.646
.03747
3 17 9 03
18 9191
20 639
.00324
3 17 10 10
18 9420
20 6M
. 12433
3 17 11 23
18 9037
30.688
.23901
3 17 10. 4b
18 9481
20 670
.15648
3 17 9 27
18 9240
20.144
.0293*’
3 17 9 91
18 9371
20.658
.09870
3 17 8 83
18 9356
20 057
.09078
3 17 9 . 55
18 9300
20 650
.05051
3 17 10.06
18 9404
20. 662
. 11570
3 17 9 .94
18 9380
20.659
. 10337
3 17 9. 42
18 9272
20 648
.04639
3 17 9 82
18 9356
20 657
.09008
3 17 9 954
18 93S1
20.1*0
.10359
3 17 ia 50
18 9491
20 «;i
Tl6208
3 17 9.00
18 9165
20 638
No 19.— Bullion Value of the Silver Dollar 1371 J Grains of Pure Silvkh
at the Annual Average Price of Silver each i ear from 183*.
116
REPORT DIRECTOR OF MINT.
No. 20. -Product op Gold and Silver in the United States from 1792 to 1844
and Annually Since.
(The estimate tor 17WJ-1K73 Is by It. W. Raymond, commissioner, and since Iiy Director of the Mint.]
REPORT DIRECTOR OF MINT.
117
No. 21.— C'oiNAGK of Nations.
Country.
1005.
1900. 1907.
Gold.
SUrer.
Gold.
Silver. Odd.
SUrer.
United State# .
*49,038,441
fn, 332,1*1
3,283,428
20,072
379,592
*78,793,045
*10, 051,0*8
100,951
*131,007,490
*13, 178, 436
6,730,20)
10, 1*7,354
7,403,715
932,581
4,065,184
3,458,435
105,185
4,340,900
235, 842
295,402
004,908
. 40,*»a
52,772,229
4,324
55,841,584
BrllUh Empire:
64,933,203
Canada .
450,000
809,403
1,194, UK)
24,600
25,055
24,333
50,000
9,924,740
Ofttat Britain — ...
25, 625, 450
1,540,744
3,011737
30.KX9.4N>
248,815
61,147,573
8,865,780
248,813
64,891,356
100,011,442
84.630,837
17,517,000
2,600
750. ICti
6,316,439
15,000
293,948
11,088,469
9*6,763
37,9*5, 729
52,000
90,867
227,433
1,017,580
29,172
216,789
192,(1.0
00,334
2H1.878
24, WJ
1,016,018
2, UK), 434
3, M0, 882
349
16,280,551
421,703
Dulib Wert Indies .
80,816
27,1*7
28,204, 801
1,349,094
02*1,801
10,194,060
14,716,370
561,067
2,224,350
1,202,130
14,061,746
77.661
20,210,679
324,433
3,060
2,116,866
jtiypt. .
64,064,117
75,261,788
French colonies:
Trul/iJ hind
240
26,201,237
249
40,996,041
•200
15,926. 915
riFrmnn r .
Colony of German Esst
Africa. . .
53, 172
709.32*.
11,580
4,090.944
647.400
24,660
11,296,000
MM. 506
6*12, MX)
964,506
53,600
Japan . .
10, 440, 4* >4
4,932,418
249,200
13.286, 8'0
49, MX)
N 944, OHO
8,586.069
617,020
Korea
Mexico .
717,654
7. 3*2,, 925
1,015.728
1/0,006
1,206,000
10,632,152
9,061,454
NetbfTKn'Jn .
200. V14
08,144
1,949,200
1 , M/9. WO
97,927
Panama .
l'f'rsiik. .
147,4 <0
886,806
i, 928,9m.
1.1 16,349
08,131
10,864
4,518.737
H0, 571
1,075,908
1,114,001
109,759
900,016
415,527
207,300
5,600,338
Peru .
77
579,000
4.348,0*5
675,500
i,7U5,2i7
. iii.ioo
386,000
738,991
280
Be r via .
1,948,358
1,005,874
49,044
3H8.N4I
087,314
579.000
"i, 342. 891
*7i 4. 428
OU.HOS
1.323.750
iSL. .
Hwlizrrluml .
3H6.0U0
7, 730, G5*)
3*6.000
386,000
16,247, ICO
579.000
10, UK), 231
Turttcy .
Venezuela .
Total .
246,054.257
145,331,224
306,336,788
156, 300,466
411,803,902 221.652,836
118
REPOBT DIRECTOR OF MINT.
So. 22.— Wgrld’b Production or Gold and Silver
CALENDAR YEAR 1903.
Coanlry.
(top).
4,265,742
779,181
706,778
.3,478,696
4,IV;.082
1,078, 384
118,875
3,227
Kilo-
grunj
(toe).
:0ne.)
Col rung
value.
188, 180,700 1.744,993
16,107,100 2,023,044
14,610,400 448
112 234,700
8s,9»,5oo
22,292,200
2,437,400
06.700
M,7U)
44, lit)
2,300
18,800
912
45,886
127., 001
96,906 2,044,600
- 171,400
19.1C3
467,066
2,364,000
a,m i l.aw.Too
30,267 632.200
88935 1,628,700
24 968 316,100
2,419 30,000
73,212 1,113,400
146 423 3,072,400
217, 6tf 4,30.1. 000
125,436 2,588.000
2 231 48,600
STK.O* 11,960,306
67,298 1,381,200
68.426 J , 414,500
6,375
37,836
181,036
7,522
770
23.570
124,417
23.786
1,178
27,700
3,2»
4,670
96,330
12,375
21,127
; _ ...
56,101,0110
di, 040, 863
5,984,292
619.620
13,035,486
304,960
1,860.169
5,KJ),947
242. 8U3
24,763
757,777
4,000000
S29.025
37,874
800,335
167,479
130.149
3,086,998
387,853
679,245
191.479
42,347
82. 88B
6,156,044
1,361,448
2,864,842
*72,333,400
84,0(0,300
7,730,200
801,100
19,430,8110
263,000
2.403.100
7.526. 100
313,900
22,000
97V.7O0
5, 171,700
1,071,900
49,000
1,151,400
216.500
194,100
4,004 200
514,400
878,200
*34,222,000
®.674.'j00
3,656.500
378.000
9,171,600
125,000
1,134,700
3,550,800
148,100
15.100
462.200
2,440 000
503.700
23.100
543.200
102.200
91,600
1,889,200
242.700
414,300
1.760.300
3.443.300
3,755,200
830,500
1,625,600
572.304 18 :«M AT, I Ml M 7T»> c 11-J> «m
REPORT DIRECTOR OF MINT.
119
World’s Production of Gold and Silver.
CALENDAR YEAR 1906.
North America:
United States. .
Mexico .
Africa .
Australasia .
Europe:
Russia .
Austria-Hungary..
Germ any .
Norway .
Sweden .
Italy .
Spain .
Greece .
Turkey .
France .
Great Britain .
Servta .
South America:
Argentina .
Bolivia!
Chile. I .
Colombia .
Ecuador .
Brazil .
Venezuela .
Guiana -
British .
Dutch .
French .
Peru .
Uruguay .
Central America .
Asia:
Japan .
China .
Korea . .
Siam .
India (British) -
East Indies—
British .
Dutch .
Kilo¬
grams
(fine).
2,419
1,037
2,797
1,247
48
2,875
4,13«
6,771
3,435
80
8,188
Ounces
(fine).
4,505,333
581,657
8U0.615
0,547,943
3,985,084
943,142
126,519
3,880
643
1,993
194,373,800
12,023,900
18,534, 700
135,358,000
82,391,400
19,496,500
2,015,400
80,400
13,300
41,200
280
24,305
1,414
2,893
268
10,877
103,982
14,233
116,243
1,223
77,770
33,338
89,923
40,102
1,535
92,432
132,979
217,688
110,438
2,572
584,744
Total . 604,835 19,445,452
6,000
502,400
29.200
59,800
5,500
224,800
2,190,800
294.200
2,403,000
25,300
1.607.700
689.200
1.858.900
829,000
31,700
1.910.700
2.748.900
4,500,000
2,283,000
53.200
12,087,700
1.448.700
1.264.900
Kilo¬
grams
(One).
Ounces
(One).
Coining
value.
Commer¬
cial
value.
1,757,944
260,521
1,717,738
21,850
442,838
56,517,900
S, 508.665
55,225,208
702,404
14,237.240
$73,073,600
11,078,700
71,402,400
«*i,200
18,407,700
$38,256,400
5,800,000
37,381,400
475,500
9,037,000
5,169
56,184
177,183
5,458
1,007
20,916
126,424
25,786
1,178
22,378
4,208
166,183
1,806,322
5,096,433
175,475
32,375
672,440
4,064,532
829,025
37,874
719,453
137,210
214.900
2,335,400
7.365. 100
226.900
41,900
869.400
5.255. 100
1,071,900
49.000
930,200
177.400
112,500
1,222,700
3,855,900
11s, 800
21.900
455.200
2,751,200
561.200
25,600
487.000
92.900
449
14,440
18,700
9,800
97,959
3,149,395
4,071,900
2,131,800
23,743
423
763,335 1
13,592
986,900
17,600
516,700
9,200
230,303
51.949
78,606
7,404,238 9,573,100
1,670,159 2,159,400
2,530,093 3,271,200
7,721
248,240 321,000
5,144,085 165,382, 372 213,827. GOO
5,011,900
Liao, '500
1,712,600
168,000
120 REPORT DIRECTOR OF MINT.
World’s Production or Gold and Silver
CALENDAR YEAR 1907.
Country.
QOLD.
SILVER.
Kilo¬
grams
(fine).
Ounces
(fine).
Value.
Kilo¬
grams
(flue).
Ounces
(One).
Coining
value.
Commer¬
cial value.
North America.
United States .
13b, 075
28,109
12, OH
228.257
113.870
4,374,827
903,699
405, 553
7.338. MM
3,660.911
1,757,844
1,901,934
397. 505
24.586
593,562
$73, 069, 50C
79,009 eoc
16,523,400
1,022,000
24,673,000
1 $37,299,700
1 40,357,200
i , 8, 434, 700
' 521,700
12,594 800
Mexico . ,
Canada.
Africa. .
Australasia.
Europe:
Russia .
Austria-Hungary .
Germany. .
Norway _
IB, 60,180
8.383.500
151.098,600
75.677.700
00,014, l\ A)
61,147,203
12,779.800
790,431
10,063.031
40.150
3.730
100
1.290,840
120.209
3.220
26.684,000
2. 484,900
600
4.110
.54.253
158.261
132,122
1.744,233
5,088,086
170,800
2,255.200
6.578,500
87.200
1,151,200
3,358.100
• ntn
18.700
6,388
929
22.950
127.435
201,516
260,500
133, oai
1 014
29, 761
38,500
19,600
Spain .
(Irrwp . . .
39. 000
737,843
4,097,(05
954,000
5.297,200
487,000
2,704,000
Turkey. ..W! .
. 7
.
. •
25.786
2,095
22,378
4,268
829,025
1.071,900
547,200
Frame . .
756
44
90
24 305
4.500
67,351
87,100
44,500
Great Britain .
Servia. . .
L414
2,893
502,400
29.200
59.800
103,000
719.453
137,216
930.200
177.400
474,800
90.600
South America:
Argentina .
m
783
25,178
Bolivia .
4,Un5
n no
16,600
Chile .
| 60*1
21,402
442.400
3,255.60)
162,437
32,619
5,222,358
1
a inn
Colombia .
4,898
402
3,040
34
1,903
963
157,491
1.355,900
3,446,8a)
Ecuador. .
1.048.710
692.200
Brazil .
Venezuela .
97.' 750
1,082
63.099
30,961
2, 020.’ 700
22,400
1.304.400
640,000
76
2,456
3,200
1,600
Guiana—
British .
Dutch .
.
French .
Peru .
Uruguav .
2.797
774
78
3,172
89.923
24.890
1,858.900
514.500
51.900
2, 107,800
297,546
9,566.118
12.368.300
‘"o.'iii.'ooo
Central America. .
1 oi ' or o
5M.K77
1 , 802, 89fi
..
Asia:
’
2.447.’ 400
" i . 249, 300
Japan .
4,170
6.771
3,206
2,771.200
4.500,000
88,197
2.835,532
China. . .
Korea. .
217,’ 688
105,013
8,038
502,307
3.666,100
1.871,4a)
81am .
India (British) .
250
15,624
166.300 .
East Indies—
10,383,000
British .
2,349
75,525
1.561,300
.
2,477
79,637
1.646,200
10,033
322.560
417.666
212,900
Total .
617,748
19.800.020 (
110.555.300 5
,754.732 185,014,623
239,210,800
122,109,700
REPORT DIRECTOR OF MINT.
121
s
1
a
i |
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5 *
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5 5
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3 s
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122
REPORT DIRECTOR OF MINT.
No 24. ExTESorri KEs at the United States Mjl\t at Philadelphia foe the
Fiscal Yeae 190S.
Expenditures lor aup-
pb«.
Advertisements lor sup-
Axayer's UeLwres .
Aasrer i materials ma-
pipettes.
Barrels and Ur J Loras .
Rrhior .
Eo-
graring
Coal
Copper
Dry foods (cost of m»-
nittens.
□ sacks.
"i S3
Sti. 7*
Fire buck. .
Freight and <iraya«e .
Furnaces and repan. .
am . rr
Gloves and gauntieti. .
Hardware .
Ice .
Iron and steel . .
Labor and rer«xr» (only
temporary labor or re-
Proper.
chan*
lea 1.
2iaoo .
11164
8.72Le4
as.r“
tTL 5*>
iaso
SL
12.1
1A
IS 1.GS56
ATS
LoSoienng
of towels, etc. ... .
Loae on vale of sweeps
k*ad leady melts _
Machinery and appli-
Me-.al W ark and casting.
Naphtha. . .
Oils .
Sail .
Stationery. printing. and
binding. .
Sundries (only such Items
as can not readily ba
dttBfiad). .
iwetrapbuu.....'..;;:;;
Telephone .
Tools .
Water (sprinkling. boat-
Ine. and tm^ting
Zinc .
W astage of openU ve offi-
905 22 . ;
’ «r. !
km. so
L87.8A
7Wl90
tevlb
Comer*
* <»- rt.
part*
Mel ter and re¬
finer's department.
Proper. Refinery.
S19L53 SI , 47 L 13
SS,22L 33*10.037. 67
21a®
31.50
2 65 3BQ.07
43S.53
102. 25 5. MS. 01
I 255. 00
. f . 28.135
S7A 75 125 00 l*v75
. 5 to 91. 24
121. 56 AH 16
218.66 965 ®
2.046.31 10. 779. 90
4281 6.428.56
29 L 18
72 82
2.5G3.90 6.97190
42 12
. 4-
SKI 67
lASO 1.755 00
250 .
1,054.84
93.40
3. 34L 2»
4L05
5877. 43
2.000.14
3.341.26
949.87
00187
455 01
2 61
-«•
365 97
105 57
2 84L56 1,141701
KU 49 72595
i.ooaoo . l.ooaoo
. . 67. 00
l.«l.*» 1.409.86 385.1) 3.*Xv54
XL lb. IK 32 13 97 94s. 62
... . 527» MiSl
301 45 . 21 07 1.748.96
4106 . 1.08L79
370. 55
1.135 87
255 64 1,886.72
5 80 S. 751 19 10.555 65
- 4LK 09 3 361 he.
14.932 64 . . 2.85565 17.S2N49
K2 96 375 40 ^ 14 11L 19, 2^ 77 . . 845 3f.
1CL70
H
120
317.25
72161
5134 ..
32 67
565
Total . 1.5SA25 41.11141 5 445
h
25. 115 An .
163 20
561 30
7.76L46
25 82
79145
1.04174
1.075 19
435 79
30.717.04
50 1.05510 14.3S5.9Q 40.295 *> 30.555 80134,435 91
WlSitf Mm.* :itS » lS S 51.177. 64 16, lS»16lSm ttSlS
20. 312 64 219, »3. 22 56. 621 14 23. 645 Q^LSl 932 0690. 345 53 72 44A 39 667. 405 W
REPORT DIRECTOR OF MINT.
128
Expenditures at the United States Mint at San Francisco for the Fiscal
Year 190S.
Expenditures for supplies.
Adds. .
Advertisements for supplies. .
Aasayer's materials, matrasses, pi¬
pettes, dishes, ele .
Barrels and lard lierecs .
Belting . .
Carpets, furniture, and fixtures .
Charcoal .
Chemicals .
Coal . .
Coke .
Copper . --•-•••
Crucibles, covers, stirrers, and dip¬
pers . ■ ■
Dry goods (cost of materials for
mittens, sleeves, coin sacks, towel¬
ing. scale covers, etc* ...
Electric light and supplies.
Electric power .
Ensigns .
Firebrick . . .
Freight and drayage .
Furnaces and repairs .
Oaa. .
Gloves and gauntlets -
Hardware .
Ice .
Iron and steel .
Laundering of towels, etc .
Lead, sheet, and lead pipe .
Loss on sale of sweeps and leady
melts.
Lumber.
General depart¬
ment.
Proper.
Assay-
ear's
deport¬
ment.
Coiner’s
depart¬
ment.
Meltrr and re¬
finer’s department.
Proper. Refinery.
488. <H .
*35.82
45.56
101.70.
672.97
4.00
121.20
00
50.88.
166. 55|
*297.50 !!
*303.70 . *737. 86 *1,767.14
^m'm 39.00
1,161.91
312.73
296.97
339.87
209.50
1,814.13
461.90
297.30
»3 ■
118.47...
54.70.
i *597. 08 .
509.66-
1,932.71 .
14.10
736.16
15.60
..21.668.7V,
I 5,181.19
276.53 21.915.32
997.22 6,178.41
3S8.9S 401.24 486.43 2.733.20
443.65 36.38 17.150.63 19.1C5-06
685.53 2,618-27
. 37.72;
1,221.72 . 378
720.10 3.50 3L
. 196.48 35.&II
455.12 . 1
. 7.84 2.83
1,119-42 . 1 . 1-
6.83 51.00,
139.50
..... 108.79 .
Ml. 40 . 587.60
1,917.81 3,031.72.
2.975.10 822.40
115. U
1,05a io
256 50
142.73
154.69
70.81
* *27. 72
2,678.25.
Lumocr . . ~
Machinery and appliances . 1 ’ ***• * 1 ’ ii
Metal work and eastings . 4“1'6
Oils . . . . • .
Sewing (making of mittens, sleeves,
coin sacks, towels, and stale coy-
ors) . 1 > "
Slalionerv, printing, and binding. 349. 90 .
Steam, supply of . . I1***1
Sundries ( only such items as can not
readily bo classified) .
Telegraphing .
Telephone . — . .
Water (sprinkling. heaUng. and lrlr-
gaUng) .
Zinc . .
Wastage of operative otni-ers
Total.
Salaries .
Wages of workmen ... .
:3«
: <>9
15,31
330.86
2,221 .80
1,144 32
796.40
409.15
1.970 71
169.05 2,677 60
2.90 22.00
M. 70
1,205.20
1,962 37
851. 15
8,519.28
4, 7tM. 50
581.06
4. Vi. 12
602.23
1,119. 42
2,043. 36
. 2,678.25
530.22 1,103.73
56,113.01 6l.MC.30
2. 167. 32 1.919.59
11.10 1,156.33
850 1.08800
ft) 37840
172.35 2.103.41
381.48 7,722.52 15,901.46
99. 16
226 60
35.541 79.61 214.14
‘ 84h 25
2.00
16,081.81
03 W.
33,405.86 8,807.69 6,006.14 12,304-31 38. 241- 03 94.392.13193,1*7.16
5,000001 5.000. 00 5, 000 00 . . 10.669. 18
1. 35 19,690 61 138. 70S. 01 12, 255 86j 47,37k 79 331 201. OS
112^74.44 IS, 507. 01 30, 705. 75156. 072. 35 85, 496. 89|141, 77a 92 561, 927. 39
25,56®. II
53.399. 40)29, 699.
124
REPORT DIRECTOR OF MINT.
Expenditures at the United States Mint at New Orleans for the Fiscal
Year 1908.
KxpradJlurts for supplies.
Aamyeta materials, matrass**,' pi¬
pettes. dishes. ck .
Barrels and lard Herons
lie! ting . ' ‘ ‘ ‘ '
Charcoal .
C hcmlcab .
Cod . .
Coke . . . .
Copper . . ”
Crudlilcs, covers, stiiTfn, and diiV-
pm. . .
Dry goods (cost of materials for mit-
tans, sleeves, coin sack*. toweling,
■cole covers, etc. i... .
Electric light and supplies
Electric lamer..
Knslgn* .
Fire brick _
Freight and drayage.
Furnaces and repair*.
Gas .
Gloves and gaunUcis.
Hardware .
LuKr“Sdre7a!^ (”Dl) W
Laundering of toweis. eu
Loss on sale of »ww|» und leadv
melts .
Lumlier .
Machinery and appliance*
Mt-Uil work and castings
Naphtha .
OUt . .
Bait . .
Sewing (making of miUeiu. sleeve* ‘
coin socks, tow rh.and scale covers! )
Stationery , printing, and binding
Sundries (only such items as can not’
readily U< classified , .. 4fll n-
Tejographlng . 46*?i
General depart¬
ment.
iss.
Mel ter and refln-
Colner’s °r’5 deP*rtaMmt-
Total.
Proper.
Meehan-
led.
part-
men t.
ment.
Proper. Refinery.
1 1
*50.4*
• 1 0*0 **r
*21.60
*1,271 23
28ft 10
,**"***'*
. 1
2L60
'*25.96
. *guo6 .
“""*iioo .
28ft 10
6a 00
2190
1100
:;iS
"6," 741 it
38.50
122 75; a 25 .
’--"""i "i.iiioi
. 4, 54a 75 .
437.81
109. 50
3,74114
1,11101
4,540. 73
22 50
17.50
1
I'jft 06 44. 25 .
1,30ft 00
56137,.
"moo
434.30
56137
21 4,5
8H.35
9i2.(i0
150
2145
44.95
11 81
27147
31 32 188. 99 .
I5A 05 . . . .
327. 47
43132
196. 71
mis
205. 93
6ft 82 .
388.00.
•ia 81 .
97. 50 .
m 78
225. 01 .
Ul 76 .
8ft 65.
00
Tools. .
Water (sprinkling, healing, and lr’- .
*ZST*’ . «X00
Zinc . .
WojStagD of oparatfW officers. .
27. 28 .
25a 00
7K76I.,
wen..: . . . . .
Total
SaladiM
2,925. 0
17.83
16K. 00 .
1.029.28
’ 825. 6.1
20.70
3a oo
71 83 .
MS. 44 .
XV 48 .
27.02 .
12a 00 .
97. 92 .
. 22. 50
1.87A 20 27.50.
. I 3iaoo
. I 78, 75
228. 57 226. 57
-i . I 2.539.09
_ _ _ | . 1 2.925.00
3,129 60 8.149.861 1.03ft8lj 6,875. 67 10, oas. 85 1.48a 95 30, ML 80
1,55a 24
313 00
554. 03
50127
238.42
1.59178
42 78
1,125.63
24a 15
22 50
1,901.70
A. 65
SO- 72 7L 30 H 13 688. 01
. . 9172
. 168.00
. . 27.28
. 30.425.0016,492
7oj 7,622 is i
Mj.695.84
r3(22,16L to
2, 182 95 127,694. 34
REPORT DIRECTOR OF MINT.
125
Expenditures at the United States Mint at Denver kou the 1' iscal yeah 1908.
Expenditures for supplies
Adds .
Advertisements lor supplies
Darrels and lard tierces
Belting
Bullion boxr*
Carpets, furniture, and 11 xt urea
Charcoal..
Chemicals
Cool .
Copper. ..HHK. . —
Crucibles, covers, stirrers, and dip-
pen...
T)rv goods (cost of materials for mit¬
tens. sleeves, coin sacks, toweling,
scale covers, etc.) .
Electric light and supplh s
Electric power
Ensigns..
Fire brick
Fluxes...
Freight and d ravage
Furnaces and repairs
flax .
1 1 loves and gauntlets
Hard ware
Ioc .
Iron and steel
Labor and repairs (only temporary
labor or repair).
Laundering of towel*, etc .
Uad, «heet, and lead pipe .
Loss on sale of swccjvs and leady
Lumber . ... • . , ISi'S®
Machinery and appliances ■
Metal work and castings - - 10- w, frn. «
Naphtha -
Oils.
Sait . . . . . .. .
Stationery, printing, and binding. 211.
Sundries (oruv such Items os can not
roadllyi* classified)
Telegraphing
Telephone
Tools.
Zinc .
Wastage of operative officers.
Total..
Salaries
Wages of workmen
126
REPORT DIRECTOR OF MINT.
Expenditures at the United States Assay Office at New York tor the Fiscai
Year 1908
Expenditures for supplies.
General
depart¬
ment
(proper).
Acids and chemicals. 9VH . .
Adjusting weights and repairing balances . . cid 66
Advertisements for supplies . 7A 40
Assurer's balances . 392. 70
Assoyer’s materials, matrasses, pipettes, dishes,
etc
Assurer's
depart-
412. 75
®6 95
Barrels and lord nerves .
Bullion l>oxcs .
Carpets, furniture, fixtures, and repairs
Charcoal .
Coal . . .
Crucibles, covers, stirrers, and dippers ’ '
Dry goods (cost of materials for mittens, alcwves,
coin sacks.. toweling, scale covers, etc.) . CZ 80
r«Ke,',.“Jsuppl,ci . 22gii
Fluxes . 2147
Freight and d ravage. .
Furnaces and repairs. .
Gas..
*185 73
100.00
201.40
73L38
Hardware, soap, etc.
Ice
57H 86
196 98
185.75
72a 50
52.55
Lp^ur and reptur5 (°a>y b’Tiiponiry lai-ar or re-
Laun^ermg of towels, etc’
Lead, sheet, and lead pipe.
Loss on sale of sweeps aud leadv melts
Lumber . . . lnr ■«>
o,bh!Dr'y.an,i appu^“ . «£ S ' «6i ai
Sewing (making of niiiiens. sleeves. com sacks
towels, and scale covers) . - - ■
Stationery, printing, and binding
Steam, sunply of .
ftffjft.ftmly SUCh ltCmS “ ^ 1101 n«ddy Iw
Telephone. . !
Zinc” 'sprinkI,nK- he“hng. and irrigating) .
Wastage of operoti ve officers .
Melter and refiner’s
department.
Proper. Refinery
327.22
isa U)
Totol . 'To?
*2.79
15ft 05
213. 70
25tt 00
1.00
354 SO
354 06
5.726.34
94a 63
1, 122. 87
144 57
7ia77
121. 10
395. 96
4, 15a 00
162.26
167.42
1,663.08
6R.65
2.367. 47
192.49
3.355.00
98.92
6190
400.00
1.026.34
541.05
78.40
654 10
73L38
21170
662.75
70180
364 80
354 06
5, 72a 34
1.00143
4,068. 3B
168.04
71tt77
121.10
581.71
5,222.80
486 77
167.42
2.325 73
216.98
68.65
2.367.47
298.88
5.25510
93.92
224 W
250.47
1.114 71
428.52
230 85
6190
40ft 00
1,026 34
17 I'M 74
REPORT DIRECTOR OF MINT.
127
Expenditures at the United States Mint at Carson and the Assay Oftices
at Boise. St. Louis, Helena, Charlotte, Deadwood, and Seattle por the
Fiscal Year 1908.
Expenditures for
supplies.
Acids .
Adjusting weights and
repairing balances
Advertisements for sup-
Assarer's balances .
Assayer’s materials, ma¬
trasses. pipettes,
dishes, etc.. .
Barrels and lard tierces.
Belting .
Bullion tioxes .
Carpets, furniture, and
fixtures .
Charcoal .
Chemicals .
Coal .
Coke .
Copper .
Crucibles, covers, stir¬
rers. and dippers..
Dry Roods (cost of ma¬
terials for mittens,
sleeves, coin sack*,
toweling, scale covers,
etc.) .
Electric light and sup-
137. 50
2a 00
a. so
*34 0*
7.20
68.40
iia
*0.00
17 00
67.50
65.00
7.25
253. 01
254. 34
Elortnc power
Ensigns .
Fire brick .
Fluxes..
Freight and drayaee. .
Furnaces and repairs..
Gas . ■
Gloves and gauntlets..
Hardware.
Ice .
Iron and steel .
Labor and repairs (only
temporary labor or re¬
pairs) .
Laundering of towels, etc
Lead, sheet, and lead
, P'PJ- .
Machinery and appli¬
ances .
Naphtha . .
Oils .
Rent of building. . .
Sail .
Sewing (making of mit¬
tens, sleeves, coin
sacks, towels, and scale
45 57
35 40
19 SO
m S3
19 25
550
3.00
"i.'oo
Stationery, printing, and
binding .
Sundries (only such
items as can not
readilv he classified).
Telegraphing
Telephone .
Tools .
Water ( sprinkling, heat¬
ing, and Irrigating)...
Wood .
Zinc .
51 90
8. 68
ML 75
Total.
Salaries...
Wages ol workmen —
Total . 11,446.10
5,393 34
4,058 00
33.08
159.00
1.80
aa 30
81.20
.75
2a 53
*163.82
27 20
1.80
5 12
106.83
300 30
11M
45 01 136.89
240.94 1,185 7*
. . 415 34
. 3.63
204.00
342 71)
6a 00
7.90
124.14
ioi r
2.83
11 25
IS. 00
1*6 64
44.36
iaoo
73. 70
12 22
162 50
KW 79
1500
1 m
35 65
1.20
9 63
13 65
5 50
69 9K 1«- 50
21 76 86.10
134.05
1.119 70
11. 70 18 10
6.3? 9.55 66,23
7.84
21 «
100 00
147 04
14.00
1,071 91
24.65
709 10
27s 40
MS 58
2. 438. 37
KJ.05
224.97
94.01
34.00
116.30
1.00
00.80
3S. 00
iaoo
372.56
‘385
60.00
II 14
54 00
25 95
85 34
7.91
CS.45
39 66
49 35
L 61
35 25
27.60 1.522.26
ioai2 . too
. .. 1,98000
13. 70 66. 56
ZSO 17.51
48.00 144 00
2.353.68 515 21
3400.00 3,000.00
8, 1(0 00 276 41
3.742.60 75590 950.39
5. 450 on 2/75X00 3.200.00
UK* 00 1,080 00 3, 87a 00
1.1, 913 S8 3,791. <C 23.000 69 4.58590 8.020 39
2.037 81
38.00
125 64
1,980 00
1.30
162.42
24a 95
3*4.29
50 34
468 45
65.60
7.346. 04 17.658.96
9.214 99 32.406 33
27.920 25 50.262. 6f.
128
REPORT DIRECTOR OF MINT.
No. 25.— Authority i-or Coonas, Changes k Weight and Fineness, and
Amount Coined. for each Coin.
gold cocra.
Act uthnuinc
coinage or Wefehl Fine-
^ (grata). n**u
Art discontinuing
Doable earie 120 1 .
March 2. 1M9 .
516
.900
Eagle (®0j . . . .
April 2. 1792 .
June 2V 1-04 .
270
258
:ii2»
January IV 1837...
9»
Half eagle (25) .
April 2. 17BC .
June 2V 104 _
125
129
:S3*
January IV 1*37..
9®
Quarter earie (.040'.
AprS £ 1792 .
June 2V 1KVS ..
67.5
64.5
January IV 1ST... .
Februarr21 1433-. <.-« .wu
March 2. 1M9 . 258 .900
cfcaae Exposition Jane 28. WOO . 25.8 .900
Dollar. Lrrt an<l Clark
Exposition . . April IS. 1904 . 3Vi .900
Total gold . . . . .
slus cncts.
Dollar . April 2, 1793 . 416 .*24
January lv l*Cf7. 4124 . 900
February 2V U7S_ .
July 14. 1890. . .
Trade dollar February 12. 1S73. <j> an
LaMyette dollar March 2. 1*9. . . 412* .900
nail dollar . April 2. 17*2 ... 30 *24
January IV 1ST... 3UbJ 9(0
February 21, 1S33. 192 .
February 12 1873.. rJ9C.9
Colombian ball dollar- August 1 1*2... 1*2. 9 .900
gaarter dollar. April 2. 1792 . 104 .8924
January 1 VIST. 102* .900
February 21 lvS3 ** ...
February 12. 1871. O. 41 .
ColuralMan quarter dollar. March A 1*3 . 96.4 i v»»
March X 1875 - /“la .900
April 2. 17*2 . 41 6
January I V 1637 .. 41}
February 21. IMS. 3>v4
February 12. 1873. rW.it,
Vprd 2. 1792 . 3(18
January IV 107... jn|
Felnuary 21. IASI. 1* 2
March 1, 1851 . 12|
MarchS. 1&33 . 11®
Sep<«nber 3ft. 1*0
S2.lS2.4B9.OQ 00
432. 775, 7W. 00
324.10,11a 00
32. 41 1 , 23a 00
1. 619.37EOO
19.4W.IT 00
200, 23V 00
2.993. 4W.CBQ. 00
Fetcuary 12. 1£1.
February 19. ik:!
Col ura lean qui
Taanty-cent p
Dime.
Half dime..
Three-rent piece . .
*24
May 2, 1A7V .
■ 730
Fabruary 13. 1S7J.
February 11, 1873. ' ! f
177.884.270 »
42. 400.000®
*, 910,749.74
lvaoa®
271.00a®
46, 96V «a 10
4.880,218 40
1.382.087 »
Total Mirer . j . . . ' . * . 9*,01V76V*S
MHO* con*.
Fire cent mekal . May IV 1«6 . 77. 16
Three cent (nickel March 2. U*5 . . . . 30
Two cent (brorae; Vpnl 22. 1864 . 99
Cent .copper . April 2. 1792. .. 3M
January 14. 1793... —
J - -
<*) . . . 30.0BC.SM.44
i*i September 26. 1*0. 941.249 «
(0 February 12,1573.. 912, Oaa®
- , , January 2V 1790 r. ta . Febn»ry2l 1S57
C«t i nkkel . February 21. 1857. 72 * Aprils 1964.
Oenuhrooie. . Apnl 22, 1864 . 46 , Q **><---.
i
1.462.887.44
umi iiau k nopper .
Apnl 2, 1792 .
January 14. 1793. .
132
104
| S.flOall
Total minor .
January 2V 1796 J.
64
. February 21, 1857...'
52.719)404 63
Total coinage
2,994. 164308. 26
1
• Amount comul to February 12 1S73. ts frii yu
‘ §[£££225 “r =• “»-
* Total amount ooinet
'6* crams, or 96.44
' 5 grams, or 77 J 6 g. _
• 2k grams, orWtt grata
< 5? 0801 “*> * p« cent mckri
1 1 wSTT?-*,** T. , '^>rr »*»d .1 per rert tin and fine
* ^TTn^fOn PB*jorn>ttT »££ *■« of March V
v oi so i«r tern copper and 12 per c«it nickel.
REPORT DIRECTOR OF MINT.
131
KHOM THEIR ORGANIZATION, BY CALENDAR YkARW.
(Coinage of iho mint at Dobkmegit. Ga.. from its organization, 1838, to its suspension, 18G1.]
Calendar year.
GOLD.
TOTAL VALUE.
Half eagles
Three dollars.
Quarter eagles.
Dollars.
1838 to 1861 .
95.530.063
S3.3U)
$404,025.00
972,529 90.100,509.00
organization, 1870, to its suspension, June 00, 1863.)
SILVER.
TOTAL COINAGE.
TOTAL VALUE.
Half dollars
Quarter dol¬
lars.
Twenty
cents.
Dunes.
Gold.
SUver.
92, 664. 313, 50
92, 579. 198. 00
928,668 92.090.1ia80
$23,820,425
125.445,009.30
949.274,434.30
Its suspension, ltfl, and from its reopening, 1K70, to Docemlier 31. 1907. J
SILVER.
TOTAL
COLS AGE.
TOTAL VALUE.
Half
dollars.
Quarter '
dollars,
i
, d'™«.
2r
Silver.
92S.720.Q.*
1,272, 00(
562.001
1.261 001
1.050 tU
688, ax
t 97.452.250l
>, 854.000
), 403.000
M 1.187,000
)| 875 000
V 614,000
33.202.590 00, 9812.327 50
201.000 00
562.000 00
450.000 00 . ..
818, ooa l» .
" 340,000 00
261.000 00 .
505. NUO CO
921 <00944. 726. 602 50
720.410 00
1127 .'710 00
1.0S9.500.00
9184. 664, 336 10 9229, 390. 937. 60
15.017 000 00 15,017.000.00
14.847.000 00 15,567,410 00
11.536,00000 U, 536,00000
7.193.000 00 8,320.710 00
4. >82. 800 00 6.982.300 00
000,000 00 900,000 00
1,223,001
1.973. :w
> 514.000
i 1.140.000
808,950 00
1,998.000 0(»
3.610.100 00
2.806.050 00
3,619.100 00
36.974 ,63f
\ 13,346,750
6.400.390 00 812.327.50
>1,100 48,533.172 50
j 244,667,236 lOj
293,200.407.00
from Its organization. 1854, to Deoemlwr 31, 1907.]
SILVER.
TOTAL COINAGE.
TOTAL VALUE.
1
' Half dollars
quarter ^Twenty
dollars. j cents.
Dimes.
Half
dimes
Gold.
Silver.
930,575.031.50
1,280.161.00
423.522 00
„ 730, 335. 00
960,386 00
276.519.00
1,247,000 00,
870.077 00
625. (XXI 00|
98, 322. 500 00 9231 000
464.646.25
18. 166 001 .
381.153 00
mouaooj. .
*4, 798. 728. >4) 1
510.827.00
50.302 30
207. (XXI 00
61.330 00
vo. ooa 00
1119. 100
91.083.579.407
51,615.000
78.287.500
44.462.500
33.735.000
$158,317,301 30
5,801.634 25
2.784.99a 30l
2,848. 488. 00)
$1 , 242, 806, tWB. 3)
57,446. 684 25
81 . 072. 4Dtt 20
47.310.988.00
3b. 256, 716. 00
2,521.716 00
103.168,500
2.060.619.00
105.829.019.00
46,759, 519- 90
50.058.741. 00
46,703,847 00
471 OUOOOj
fiS5. 519. 90
44.356,000
2.403. 519.90
" 346. 00a 0o) !
313.664 00
317.847.00
48.875.000 1.183.741.00
45.421,000 1 282, 847. 00
2ti.988.U3L 50]
10, 256, 631 25| 231. 000^ 7,040.216 90
119.100
j 1,533,529.907 180.804.957.05
1,714,334,864 65
siiiiiiii I i| mmm
132
REPORT MBECTOR OF MINT.
No. 26.-Con.Ao. o, th. Mint. o. th. rSITKD Statm
_ ICol W of the mint at Philadelphia from
Doable
Calendar year.
to 1900 . ! SS22, 641,300 i
*7,«l.(W0
2.230.330
gold COtXAQC.
Half
Throo
dollars.
fl.3S7.7W
iiOltSO
Quarter
Dollar*
ufcHs J;Sa| ::::::: StfSfl .*,5!
U».230 2 ^;SS ’SSS «L«a«i »£i
1,380,800 l«4iS I7ui£ Mf.WUJO
_^«,a .tgfg iliatiS:;; . %%%
l.w.rw
123. 1123. W2 50 114. 223.43V
16MI12 50 ...
22H.JU7 JO ... .
334, .332 A) a 7j o.,
303.142 4) M7S.I78
' :§sr
Calendar year.
d 1800
minok coinage
Fire cents
Total .
Three cents
**41.349. 4v
*17.444.302 35
1,3U2.7»7S
1.324.010 65
I.574.ICS.U5
I, 400, 336. 25 ....
1,070,341120 ....
1.481.362 40 .
1 am o -
l! MO. 740 00
• Louisiana Purchase Exposition
20, 558, 575. 2U~
341,34ft. 45
1 L*wis and ( lark Exposition.
(Coinage of Um mint at Dm ur fium
Calendar year.
OOU> COINAGE.
Double
Mgtos
Eagles.
Half
««loa.
Three
dollars.
Quarter
IhAkn.
1906 .
i • t
Total . _
*12.405,000
10.M5.000
». 250, 000
*8.810.000
lo.ajo.ouo
20.110.000
*l.fi00,000
4, 440.000
fi.O40.0U)
— — 1
REPORT DIRECTOR OF MINT.
188
FROM THEIR ORGANIZATION, BY CALENDAR YbAR8— Continued.
Us organisation, 1703, to Deoomber 31, 1007.]
SILVEJt COIN AO E.
07.524*236.558,010 *93.764.761.50 *43,487,236.00 *11,342 *24,715.379.80 *3.948.791.00*1
r ii mo O Iwl AtU Mil O Ei LA >>V CM I 1 7# A I ftQl 90
<•8,880,912
Twenty
; oenls.
2.381,456.
t.WiM 2.134.406.
7,994,777 ~
4.652,755
2,461,3
1,130,877.*
2,788,650) 1,496, 335. (X
331 . 363. U
.319.337.5)
2,504.228-00 . . 1,700.091.20
2.223.203.25 . 1 .886.047.80
3.049.436.00 . . 2,138.077 70
2,417.516.00 . 1.950.075,
2.397.203.25 . 1,460 102
1.242.0)52.30 . .. 1,455.235.1
914.108.75 . 1,905.840.1
1,798,143 75 . . 2,222,057 ,
07,524 267,837,917 100,327,713.50 00.033.137.50
11.342 89.582,007 80 3,948.791 90 1
MINOK COINAOK.
tents.
Half cents.
*13,347.409.39
068,337.64
796.111.43
873.767 22
850,944 93
613,280 15
807.191.63
960,222 55
1,081.386.18
*39, 920.11
::::::::::::::::
19,908,651.12
39.926. 11
TOTAL COIKAUK.
TOTAL VALUE.
Gold.
Sllrer.
Minor
*941 279.011.30
47.627.942.50
22.727.277 50
2.722.432.50
8.821.360.50
129.144.428.00
5.282,441 00
$.234,095 00
54,901.490.00
*408, 853, 532. 40
15.526,687.20
13.206. 470 56
15 643.679.20
10,150.724.00
8.142 290 95
3.028.661.00
4,229,286. 85
5. 319. 488. 75
*32.685 068. 33
2,031,137.39
2,120, 122.08
2.447.796.17
2.251.281.18
1,683,529 35
2.296.565.43
2,890,908 80
3.00.126. 18
*1,382,817.612.23
65. 186,767.09
38.061.870. 13
20.813.907 87
21.232.265.68
138.970.248.30
10,609.657.43
12.354.290.65
63,263, 104. 93
1,217,740,378.50
484,109.820 90
51,450.524.91 1.753.300.724.31
« Includes 50,000 Lafayette souvenir dollars.
Fobruary. 1906, to December 31, 1907 ]
SILVER COINAGE.
Trade
dollars.
Dollars.
Half dollars.
Quartor
dollars.
Twenty
cents.
Dime*.
Hall dimes.
Three cents.
*2,014,000
1.928,000
*820.000
621,000
*406 000
408,000
.
3.942,000
1.441,000
814,000
134
REPORT DIRECTOR OF MINT.
No. 26. — Coinage of the Mints of the I’nited States
RECAPITULATION.
REPORT DIRECTOR OP MINT.
135
FROM THEIR ORGANIZATION, BT CALENDAR YEARS— Continued.
RECAPITULATION.
SILVER COtNAOK.
Dollar*. Hall dollars.
173.000
184.018
166, 100
30.000
140.750
15. 000
OS.'OO
47.500
1.300
1.100
23.575 00
007. 7K3 50
aw. loi.oo
1. I'M I»" I"
375.501 00
052.8* 50
77V, 780. 50
M7. 100 00
1 . 7.'>2, 477 00
1.471. 58X 00
2,002,080 00
2,740. 700.00
1,537.00000
1,850.078.00
2. a<r.4fo oo
2. 930. MO oo
2.3B8.WJ0.00
2 000, 000 00
3, 300, 002- 00
2. 07b. 00X00
3.273,1110 00
1,814,810.00
1,773,000 00
1.748 7<«8. 00
1. 145.054.00
355. 500. 00
1. 484.882 00
3,050,000 00
1. 885. 500 00
1 341.500 (»
2 257.000 00
1.870.0U0 00
1.880.000 00
1,781,000.00
1,341.500. 00
301.375 00
110,565.00
2. 430. 354.00
4.111.000 00
:■ m, m oo
1.008,800 00
1.4S2.000.00
6iw8onaoo
2. 074. 000. 00
1 . 102. 850 00
2,078.050.00
802, 175 00
700.830 00
518.785.00
503,450 00
812.
810.102.50
769. 100.00
725.850 00
1. 684.50
30.348 50
51,531.00
65.100 75
V0.2V3.50
3(1.000 00
31.801 00
54.212- 75
16.OUO.00 |
4,4.50.00 I
42,000.00
VO, 500 00
80,01X100
ju.noo no
71.500.00
488,000. 00
118.000 00
03, 100 00
20KDOO 00
122,786 50
15X331 75
14X 000 00
214,250 flO
403.400 OO
200.300 00
230.500 00
127.50a no
275,500.00
36, .500 no
85.000 00
150.700 00
(C.OMO 00
68.206.00
4. 146,565.00
3. 4l/>. 000 00
857 35a 00
2, 12V. 500 00
2.726,500.00
2 108, MQ 00
421.000 00
312.1VJ.00
1,337,650.00
249.887 50
48.016 00
28.517 50
25,076 00
11.381 25
17.156.25
31,500.00
23. liaOO
Vt5.500.2M 50 21.737.878 00
12,21X50
2,526- 10
2,75600
■2,17iio6
3,464.00
1,097 SO
3,304 00
826.50
12,078 00
4,471 00
615 60
6,51800
84,320 80
511.60
2,226. Xt
1,300 00
1,605 60
ftsaso
1,802. 60
94,258 70
118, 651 20
10,000 00
44.000 00
■51.060 00
‘ 121.MW 00
12. 500 00
77.000 00
51,000.00
77, 1XV 00
52,250 00
48. VX> 00
(4,500.00
141.000 00
1 19, (XX). 00
104. 200 00
230.49X40
22 9 638 70
261,358 00
363, 000 (C
800.750 00
152,008 00
7,250.00
198. 500 00
3.130.00
24.500 00
45. 150.00
113.900 00
244. 150. 00
142.650 00
196,560 00
1,327,301.00
024.000 00
207 50J 00
703 000 00
712 nno no
iw.fxn no
97.1xn.00
78, 7W 00
W.'CSl 00
10U.K30 00
17 196 00
26,907 00
18 650 00
14,372 50
14,002 60
72,026 00
70.000 00
• »
(3, an. 00
02, 135 00
48.rxi.00
(«, 500.00
74.000 00
138.000 00
95,<X» 00
113,80)00
112,750 00
108.285.00
113,064.25
98.2saoo
58.250 00
58,260.00
32.500 00
78,200.00
1,36a 00
63,700.00
03. 400 (X)
72.450 00
82. 250. 00
82.060.00
03,025 00
785.381.00
3R5,fXXl 00
117.500 00
sw.uaion
433.000 00
xv» axj. (X)
45. 00a no
92.950.00
164.060 00
74.027 SO
6.92X0)
4.53X50
6, 676 (X)
6.536 25
6,431.25
18.396.00
21.930 00
8376,184.10 4,539,81890 1,261, 762. »
$185,032 (O
MO. 90S 00
342 an (XJ
•JO. 130 00
4.170 on
t V in 1(1
31.3W (»
48 120 O)
10,960 00
8.61(1.00
14,940.00
10,906 ft 0
643 NO
14 10
2SA 00
081 75
138.76
123 00
15X00
tzroKT bULK/Ttm or vixt.
130
Ho. Ml. <ji*acz or Twi Hum or me L'imi> Ktatx*
Kt/ AMTf:unO*^4«tearf.
TWw
W0M,
; d—
»*,«», mr
U.*C to
v r* 1
ZWi
«L.r: to
2. tot
c. ■
l M»to
a.iA
7S
Ui.W2.to
n S
tzk«m
*.«M to
lto.O*
m
to ton to
o»
m
2».«2 to
1.M
4.4M
«.«» to
iito
BKPORT fifKKfTOJt op MIKT.
187
XUOM nnun Okoakization, nv ('alkximk Yraiw— <Viniinuod.
UK< 1 A PITULATIOM— Coatlnuad.
ai. 231, non
4,910,000
6,279,400
4,i«,IV)
ia.rw.7lo
I, Ml
1,9*7
*00
I,0rr7
Aft, 0X3, 440
44 3.442
I, 117.1*1
J , I lH .gr>,
2V* 1,0)0
.',h
27,640, ion
27, *7, in
27,'«7,!I76
Z7.A74.KlO
»,470,0»
»,1».N7A
2\ 407, 767
AI.4Z1.Hfr,
SI.6tl.7IO
4f,Wl,H.i.J
34, 661, *11
3N, 042, 004
24. VH2.7U
0,213,244
1,4*6.712
3,093.972
W3.HH0
19,K7o,762
I2.0M.71I
14,491,734
18.IW.M6
i *23,010,912
43.VM.oi3
IH, 100,777
10,343,710
N,*12,)j10
MI.VKK CritNAOC.
Twroiljr
•96,500,2*4.60
HW, 76*. 80
1, 7 4 l. A. ‘,.00
*64. 77V mi
l,s*i 7«t no
l.i*’ •«*! no
4, iir.ria mi
7, til, 171. 00
7, V40 23ft, 00
720,200 ri)
2,980 00
4.*77 #0
/>,*; mi
3.7W 00
4,319. 30
2,07 Ml
, IKJ. DO
2,94100
2, HU. Of)
0,410. VI
6, AM HO
«,2Uft 00
100,300 00
• 1 ,043,139 It)
44,004,949 Ml
a. 467 *ul 00
2 394.032 uO
1 , V/7, VZj 00
a.ittj.au mi
4 094,412 V)
4 4.1 - ZN VI
ft, OH. rtl7. 00
3.1I0.KA to
4,4'H,733. tO
3,149,7*1.30
2.111,494 00
Thrno
0«nU.
6,' 421’! 41 4. VI
3,N21,ft*7 60
2;24*;i.Jt73
MTV. 1 43. 7ft
31,963,024
67S,M3,*4N
170,*B»,.0Uf, 30
«, 630,079. 71
. . , . IN, 374, KI4. 10
33,1*1.00
. 109, a7i uo
. 241,043. 00
443. AJO IU
319, ill. 70
toft ,39b 2,406,370 00
6,1*0 .1, DIM IV 00
HO 1,733,031 00
120 IH7.WO on
. 1,810 00
. 3,733 VI
2.4V7 V)
. ... 291,110 00
. . 767.37120
•103, 1,14 90 !
. 287,711 70 j
- — m ,
,027,024 10 4, **0,219.40 1,2*2 1*7,20
* loi lnd*» 60/1)0 I^ofay/'lUt tourMilr dollar*
«Umil*iafa* 1'UrtllftMl KCMMlllOQ.
f IatwIb 60(1 Clark KipoJtloa.
138
BEPOKT DIBECTOB OF MINT.
No. 26.— COIWAO* OP THE Mivre OP THE UsiTED STATE*
RECAPITULATION— Con linu& I
HKPUET DIRECTOR OF MI XT.
139
rKOM THfclB Os/> A.VIZATIO V, BY < ALES DAB YEAH* -C^ndaUBd.
RECAFIT UUnoS-CtadBOML
Gold.
&Jw.
Minor.
121.485. 08
3370, M3 M)
•11.37X00
77. BA 00
77,114 50
10.334 40
128, iw n*
14.550 45
8.5HI 34
385,410 0(1
330,281 00
8,787 00
213,265 00
42X5L5 00
9.19, e»
317.700 80
224, 25*6 00
28,278 40
CS. ',7tl 00
7X758 0b
LX 42% 37
42X310 on
56.142 Ul
34.422 83
23K 377 3b
*7,118.00
28,308 03
28X442 M
100.340 M
12.644 84
170.347 30
148,388 St)
U, 483 4%
XM.305 <*>
471.318 0b
12*0 00
437, 485. Q>
MC. 448 75
8.612 21
264.661 00
044,100 08
Li, 090 00
MW. 275 4b
787.374 00
6.001 53
581,411 no
r.38, 773 50
IV'AO Ob
487,881 0b
<04.340 08
2,«»
28X411 Qb
Ml. 828 M
10.755 00
477.140 «b
430.881. SO
4.IW 00
77.270 0b
tO 1,6*7 50
3, 574 ID
X 175 8b
17.308 00
3i,*»7o no
3b, "Mi 00
44.075 50
3, «*> UU
30,723 30
ixi __
lL/jt ao
W. 344 25
23. 577 32
23,400 00
SUOD 00
18. 151 00
WSX54L*)
106. 4ttT 00
U2.2XJ7V
Oilman
571.335 40
510. HA 37
SJfi.075 a
370,08% 53
371. *27 M
333,238 *
Wl. 064.00
UOM.V8AH
*►4.732.5*
1.155, HA 10
1,10%, 740 «t
1,115.218 tO
1, 102.271 10
M2. >35 M
a,4»oo
50.7*4 57
M7.2b7.50
1,345,064. 50
I, Co. 32100
1, *>M.7»A.2D
1,01%. 877. 45
•15. UB m
867.87 A 00
1.154,287 00
1.735, 884. 80
2, 1 10. 47V. 25
3. OB 4,342 32
1.741,381 24
2, 304, 475 SO
XU*.** CO
3,403, 473 A0
3.401.065 W
3.765.710 00
7.3W.423.00
WM.U>~ 00
7.7M.OOQ 00
3, -A. *4* 00
4.305.710 40
3,417,812.31
3. 438,81X60
2,240.561.17
4.1M.W1 40
ll.Bi7.%30. 70
7. 0(7,207 W
X«KM6 30
XMABM.M
22. iA, 611. 48
5.478.720 48
11, 164,084 82
33, W, ML 00
63.488.2S4. B0
57.K4i.2SSi.44
48. 322,538 78
31.577,870 «
t. 405,243. 78
42, <C7, 113 3>
37,870,810 48
11 . 878, 783 10
IK 429.000. 00
25.HK7M.0O
87.280, Z70 00
22,408.354.00
23. 753. 148. 80
21. 61K 018.24
28.454.065.36
33, 461 , 314. S3
35.557.411 3
22, 142. 8HU. 30
18. 812.m 50
140
REPORT DIRECTOR OF MINT.
No. 26.— Coinage of the Mints of the United States
REC A PITU LATION— Continued .
UINOK COIN AUK.
Fire cents.
Thmo orals.
Two cents.
Calendar yrer.
1870. .
1K7I .
1872 .
1873.
1874
1875
1K7U
1877
1878
IA?«
1881)
1881
wo.
1883
1884.
1885
ihni
1S87
ISNS
1880
JWO
1801
1803
pen
IWO
1NU7
IMM
IKN
IMJO
1MM
IlKB
r.*tt
l*M
1905
1900
1007
brought forward .
*4.543. 20a oo
240,300.00
28,050 00
301,800 U)
227.500.00
i7o.«oaa)
104,850 00
130. MOL 00
117.50
1.455 OU
097. 75
3, MS. 75
573,830.00
J, 148. 471. 05
513,007. 10
73.824.50
1W1.5I4 50
ini, 182. m
530,024. 15
7V4, 05
812,063. 00
841,717.50
584,082 10
<8.8, 500 74
270,050.00
4W, 004.20
442,140.00
1,021 CM. 75
020,004.35 '
1,301.451 45
I.W.TM) 7.5 ,
1,324,010 65
1,374.(08 05 ,
1.400,330 25
1.070. 24!! 20
1 , 401 . 3u1 SO
1,030, (INI 25
1. 000, 740 (10
30, 558, 378 20
*748. 02a 00
40, 060. 00
IS, 12n. 00
25, Stfl.00
35, 190 00
23,700 00
0,840.00
4,8(0.00
7ft 50
1,23(1 00
748 05
32,417.25
750 00
318.27
100.20
143.70
128.70
238 83
1.232 49
040.83
*879. 07a 00
17,225. Oo
14,425.00
i.aoaoo
i
REPORT DIRECTOR OF 3C1XT.
143
The nickel coins struck in 1907 fur the
herewith:
Anrentine Government are inAu~+i*«\
Total.
1.M1.CI
2.1U.MS
3.7».st7
XNL
20 »4
T«.tU.
san.ri i oq siq
fC, 7, and S i Import* and exports of gold and silver during the calendar year 1907.
The external transactions in coin* by countries of origin and destination «»<l species
of metal ha* been during the year 1907 a* follow**:
ImpwtaUoo.
Lxportatwn.
Gold.
Total
GoldL |
.«ar«.
Total
Bolivia. . . . .
H.77S
UM82 10,70
wa.177
31. «n
aa.ou
Hranl. .
IdlclStUe.
1,360,000
3,>C,000
IMTS.Wr
1.B0.0Q0
. i.MB.aao
. UJ7S.W7
2*), so:
2,7»,000
9
2,730,000
112. Cm:
France.
t'niied Kingdom .
112, tiU)
Uruguay .■ . .
4* .31*
7,N9
2,*U0
lojta
Total .
a,3&2,wc
I6.M2
3,134.9*6
I.UMU
(91 No United States gold coins were melted in the mint during the year 1907.
On December 31, 1907, there were on deposit in the r« aversion office. 2.511.135$
eagles of North America, with value of £36,025.408.322 guhl aigentinae pesos , which
were presen t'd in their original condition a* coin.
(10, 11, 12, and 13 Amount of gold and stiver produced from mine* of the country
and output of gold and silver from refineries *»f the country during 1907 It was only
on March 15. 1907. by supreme decree, that the provisions of articles 3 and 4 of the
general law for statistics. No. 31S40, which had been in charge of this mining section,
was ordered by law No. 4159 to be extended to the ministry of agriculture As these
statistics were only commenced to be kept up from the year 1908 this section can nut
answer question* lo, 11, 12. and 13 f •* 1907
(14 and 15) Approximate stock of gold and silver coin and bullion in the country
at the ckwe of the calendar year 1907: Un December 31, 1907, there wen- in the con¬
version office the following gold coins:
pounds cUrilnr. . .
Facie* of North America.
ArcenUnea (pans) -
German marks
23 pesetas ailunsos. .
ij.ta’.cs faM3n.*c oto
2,011.1*, a.«s,*>*ia
i.*7,c -
Total . . . . . . . M6.0B.im. U2
On the same date there was known to exist in the country gold coin of \ariuts
description?, according to data supplied by the bunk* of the capita), as foUuw*-
In the coormlon office .
In the tanks oT ihecartial of U»e fUpobb-
Total... . . . .
ftflMU.m.12
144
REPORT DIRECTOR OP MINT.
Nlckrl coins:
loos, 25,0M.ar»i
.10, 3fi.fJO.774 pieces..
.30, 18,707,040 places. .
Total . .
Nlckol coins for revision..
‘’•'R
coins:
I. 12,900,150 pinout.
2,26,630 012 piece*..
Total .
. 9i. an, 441:. a
. 8, MS, 077 «
. 3,733. ttMM
. 8,000.0X185
. 4.150.00
. 8,704,082.95
120.0f.lM
532.720 24
061.781 74
(10 and 18) On December 31, 1907, the fiduciary circulation charged to the national
ivommont amounted to 9632,163,-11! o'). Amount of uncovered government note*.
148,353.670.99.
The distribution by denominations of the amount of notes in circulation is as follows:
DemimtitaUun
1 Nob*.
Value
loan. .
2.067.5711
30, am. 039
4J4. 3U0
! 11.013,406
1 10 043 790
ll.0D.7M
.i).av..iui
54, 1*7. 9H0
)O0 42A, 800
100 -
2.00 .
4.00. .
10 00 .
30.0) .
’ 46.740
7W.427.6M
117,734, all
10.123,200
57,202.000
79, us, ire
40.00 ...
100 00 .
300 Oil . .
Mono...
1,000.00 .
l! 177] MS
40. #10
114,424
79,41ft
Total .
■
522. 490. 184
(17 and 19) Rank notes outstanding: None. •
(20) Actual currency of the country : The interior monetary circulation of the coun¬
try u represented almost entirely by the fiduciary circulation in notes which was on
Apnl 30. 1908, for a value of 9244,401,422.08 *
(21) Tharo is no premium nor any fluctuation* of a )«*gal character on gold.
(22) (No reply.)
(??) The report of the conversion office upon the operation* of 1907 baa not l>een
published.
The report of the division of mine* for 1905, 1906, and 1907, for account of the Repub¬
lic, ha* not been published.
AUSTRALIA
Aiutiirr* tu interrogatories , 1907.
(1) The amount of gold coined at the Melbourne mint during 1907 (a branch of the
laimloii mint) was, according to a return furnished bv the denutv master of that
lnstitutmu £3,332,691, all in aovureigns, of which the sum of £2§9 .xmsisu-d of worn
llntish gold com withdrawn from circulation. In the gold deposited for coinage tmiall
quantities of foreign com are sometime* included, but the amount is loo iuaimiificaiit
to make it worth while to keep a note of their origin
vJr.L U.1 th‘‘ Mdbonn** mint, but British silver coin of the faco
value of £108, 100 and of the denomination* enumerated below was ia*u,*U to the public:
Btff crowns (is. fid.)
Two-shllllii}; plr —
OiH*svliillin|c places. . .
Sixpenny pieces .
Threepenny places .
£*,W
23. am
. 26,011
u.aon
u.wo
l»T«w
BtrVCkrin Ix>“Jon.&n»l would appear in tho London mint returns
tf i j°f a iaF* )'aluo of £3*219 withdrawn from circulation aud for¬
warded to the London mutt for recoiuagc u
(3) No coinage was executed for other government*.
432 not ^X',tUe.K°ld “d “‘VW ^ *** ** —
REPORT DIRECTOR OF MINT.
145
(6 and 7) The import* and export* of gold and silver from tho State of Victoria dur¬
ing 1907 are shown in the attached table* furnished by the department of trade and
customs of Australia.
Return- showing the Imports op Gold and Silver Bullion and Specie into
the State op Victoria, also the Exports prom Victoria with the Countries
op Import and Export, during the Year 1907.
Country.
Imports.
Quantity. Value.
Export* (oversea).
Quantity. Value.
Gold:
Bullion (bar, etc.)..
Other Australian 8
U ailed Kingdom . .
Ou.nct*
78, M2
Ceylon ....
India .
£277. MU
1 10, MU
170, t*s
Total .
Bullion in matte. .
Other Australian S
United kingdom .
Ilelgtui
United
7,(109
83
33.487
Total .
Ora. quarts, and <
other Australian Stales. .
United Kingdom .
Germany .
Total .
Specie...
Other Australian 8
I oiled Kingdom .
Ceylon . .
Hongkong .
India . . ...
New Zealand .
China. . .
France .
210.331
*82.10)
11. MO
Silver:
Bullion (har. etc.)..
Other Australian Slates..
United Kingdom .
New Zealand _
Total . ...
Bullion On matte)..
Other Australian 8
United Kingdom..
UrdUd *8 t*US " " -
846.341 100,407
Total..
Specie...
845, 341 100, 407
72,468
87*
39, 1*4
other Australian 8
United Kingdom..
Returns showing Transfer* op Certain Items to other States durino the Year
1907.
Items.
Gold.
Stiver.
Bullion fbsr, rod. etc.) . .
Ore (quarts, etc.) . •
£934
19,999
1, 182,542
£310
133
3.880
0*472— OS - 10
146
REPORT DIRECTOR OF MINT.
None.— It is impossible 10 supply the particular? desired by you with regard to
the weight and country of import for this return, as the value of 'interstate trunsft»
from Victoria is all that can be furnished.
(S' The import of United Slates gtxld rain during 1907 teas small, being brought
by Ira voters, and would in all probability not exceed $2,500
(91 Amount of I'nitcd States paid coin deposited at mint.'* and melted. (See answer
to question No. 1.)
(10 1 The secretary of mines for the State of Victoria reports that the State named
produced in 1907 gold amounting to 095,576 fine ounces, valued at £2,954.617
(11 1 The secretary of mines reports the production of silver in Victoria during 1907
as follow*:
Silver. 29,460 fine ounces, value £4.050 (extracted from gold at mint!.
Silver 2.£! I fine ounce*, value £305 (shipped to England in copper matte).
in addition to the above. 8.762 ounces of silver, valued at £1.200, were extracted
from gold at the mint, the product of other States.
(12 and 131 Th** weight and value of the output of gold and silver from the refineries
ol the State is contained in the total production in answer to question* 10 and 11.
(14 and 15) The stock of gold, silver, and bronxe coin in the banks in \ u t wia. being
the average f.< the quaner ending December 51, 1907. wo.* £7.661.166, and bullion;
*582,613; total. ££.043.790
Separate returns arc not made of the gold, silver, and hrunze ouns, but <>n the haris
v re\uni ***** wv" 'plained in August, 1906, the average amount.* held by
the banks foe the quarter ending December 31. 1907, mav be stared approximately as
The ertiina^d amount of gold in the hands of the public on December 31. 1907,
beans: X6S1,179. and silver. £141,988.
The nlyer and broaaeconsiA only of token coins, the law* relating to which are the
same as in England There is no stock of cold or silver in the public treasury of
' ““••}* government moneys being lodged with the banks dav bv dav
5!- “4 If bv the gor mou nt of the State of Victoria.
*r**?f,p *mounl °* bank note* in circulation in Victoria at the end
ol 190. was XSS9.357. No bank notes were outstanding at the end v»f 1907 n<.H covered
by legal-tender gold and silver ct»in and bullion
t‘20* The currency of Victoria is the same as in England— gold, with subodiarv
coinages of silver and bronze.
JJJ! * *** ** • Twenrium as compared with the currency
i j “V **** 1**^ during 1907 in anv wav affecting' the c\aiu«e. issue, or
!egid-U»^er character of the metallic or paper currency
(23 The report of the Melanin* mint is contained in that of the roval mint at
Loodo°- **» wnner being a branch of the latter. The report of the department of
mime- ol \ atona is not yet available, but will be forwardedas won as issued.
AntEicix CdsarL-ftaxxaAi,
JMfcmnar. Merck U, 190$
WmtDaawAL or Lrasr Gold u Avsnum.
rFta* u* laanllu Imaac* and Boakir* Recant. lofy a ia«a)
'h* Sriw branch of His Majors mini has recently cun-
mumcated the following memorandum of the withdrawal of light gold now in rn. —
ln council. dated IGUi March. istt, provides i <r the
fST- V4U* °* l*hl ^ coim‘ at the Bank of England,
“^.p^ckmathm. aod are below the least cnnvnt weight
1 lnWt.Uie-K*rt current weight of the sovereign at 122.5 grain'
sov^H^n ** 1^5 grains, and the coinage act of 1891 enact.* that *a gold
I*""1 Jl‘v*llv ™h where the mn ha^ ben immnd
diminished, or lightened otherwise than by fair wear and tear, or has been Jelaerd
bv having any name. word, device. or number stamped thereon.’ The art forth, r
W «* exceeding 3 gwux* from the
^^lard weight shall be pnma facie evidence that the coin has been illegally dealt
On 19th March .1906, a further urder in counrtl was made extending the
ITS1—; *° «y h»noh at Uw mim which mav fc^ihe lime £u* be
appointed Kg the purpose by the master of the mini. This order came into operation
REPORT DIRRCTOU OF MINT.
147
un l*t April Irt-i, and tinder ii the morier of the mini appointed the branched at .Sydney
and Melbourne to receive gold min tendered in aemrdance will* the regulation*.
In Sydney, Mr. Rtw*oU Franc- h, general nmin^'r of iho Hank of New Smith Wale*,
wro* communicated with an chairman of the a*** dated hank*, and h« undertook,
mii behalf m( the Hunk of New South Wale*, to a. t a* the agent of iho Sydney hank* in
tendering tin* coin at the mint In London the examination of the coin i* mado hv
(ho Hunk of F.ngland, and only (ho min amoptod am light pa t to the mint, hut a
different procedure i* nercowary locally The Sydney mint receive* from the hank
gold nun in hag* of £1 .nun each, ami the*, after wariting, i* po.»od over the automatic
weighing machine**, who h divide the nrnu into lhn*o cla*»* , v la
"u») Above lea#-t current weight;
’hb) lb-low leo*t airmail weight, but not more than 8 grain* light, and
"(cl More thuti three grain* light.
"t ’oin- in chi-* tat an* rcturuod to Iho bank a.« being "till current, thorn* in » Io-m (b)
an* melted, and their nominal value |mid to the Imnk, while f«*r min* in claa* (e) the
ImiiK reoeivea the bullion \ aluo
‘ The maeter of the mint ha* llxcd the amount to bo accepted a* light by the Sydney
mint Up to «l*t January next at £*fi0,000. **r X-'.VOUO per month During the quarter
now ending (to WthJunc. IWUKi JtftJ.OOO tu Ruvoreign* and £7tl.7SO in half «*\rn>ign*
have been examined Of the mvereigne, £M,K9H were retunml an abeve lee»t current
weight, £10.021 wen* an ei >t ml a* light, and paid f**r at their nominal value, and £M
were n*eeived at tlieir bullion value
”Tbe Un* nu min* accepted u* light amounted to £Xtt 1 1* Td Of the half *nvv reign*
XJM.OUH wen* relumed, £47,701 aemnted a* light ami £I,H70 received at bullion
Value, the low on min* ameptml a* liglit being £1,100 7*. 4d
AUSTRIA -HUNGARY.
A 0*11(1 A .
.(hjt terra hi »uicm»|p«ifor»r*. /8w7.
(1> In the calendar y mu’ 1007 gold min* were atrw k at the Royal and Imperial
mint at Vionua, a* follow*
Ifeunmlrultiui
uumlniiUe itiuwl*
Dim* U
Kur the alwve coinage wito u*ed, boridoa grid l*aiw, etc.—
Hull I oolna of itoiniwUi* euliiar*;
rnmAneil.
IMhiml .
(„>M polio of turolsn wlnago.
llnraAlMMl
11*0110*1
(3) The coinage of rilver at the Royal ami Iin|>orial mint at \ icnna i**r the
your UK)/ w.i* a* folk>WW
j I1*ww.
Kixinnn,
o.ar.i.ftTu
kUucrwm*.
. a.en mob
j.tnoiw
calendar
Mmnuii nlivm .
Kntiu n
levant 1l\*k'i .
(WneinlUfttimi,
—
Hot*.
3X1,000
iMu.ne
K IlMfwno
On* altv«x
kmiMa.
1, IMA, MU
», ox *»>
i ** '
No value i* given for the Levant dollar* alnce; a* trade min* they po
VftKnr (hi* ailver coiuage wen* employed, boride* bar eihrar—
Bllwonliw0t.luuia»U«*<Mt»**«’i . .
l’im llnwl *llvt*....
Hcflnml SlvtC. . . •
gtlvcr coin* u( titrlfn ooluag**.
i nr. mu -1 ull'i'f...
K«0iu*d*Uv«r,... . . . .
no mn*lAut
kMugrwin*.
4*.
JR.Wt.XB
148
REPOBT DIRECTOR OF MINT.
The entire coinage of the year 1907 was executed at the Royal and Imperial mint
at Vienna without the awiatance of any foreign mint.
(3) The Roval and Imperial mint at Vienna in 1907 struck for the Bulgarian Gov¬
ernment 14,060,000 5-etotinki pieces in copper-nickel (25 per cent), of a weight of
42,177.799 kilograms.
(4 and 5) The gold and silver submitted for stamping in 1907 can be inferred from
the domestic consumption of the precious metals in the industries which was as
follows:
(a) GOLD.
Class! Gentian.
Weight,
unrefined.
Fineness.
Ftne weight
Domestic Raid ware . .
Kilogram*.
7,068.733
Thousand! h*
381.332
Kilogram*.
4,110. (/M
4 370
25.331
Domestic gilded warm (the ruld Is rec koned at 2-5 per cent of
the total a rich t of 174.785 kUocrams ) ....
Domestic a an- ( the consumption of fine (fold for fire- elided,
purr, 12-carat and r*oarat . and for galvano-gllded win ) .
Total . .
. 4, 14U.305
In regard to other uses of fine gold in the industries in the year 1907 (especially in fire
and galvanic gilding) there are no data at hand. In the last three years the consump¬
tion of gold was as follows:
Kilograms.
1004 .
1906 . . <*:
190ft . . . 583.002
According to the average of the three years, as stated above, the consumption of gold
in industries other than before specified would amount to 552.708 kilograms in 1907.
tft) SILVER.
Classification.
Wetefht,
upmflfwoj.
Average
Oneness.
line weight
Domestic silverware .
Silverware
Kilograms
Thousand-lit.
70U536
Kilograms.
47.103.312
933.3
1,816. 722
(ft) Half pure. .
463
25, 712
Total . . 48, IMS. 511
In relation to the consumption of silver in the industries other than those above
mentioned no data are vet at hand. In the last three years the consumption of silver
in these industries has Seen as follows:
SOopuis.
1904 . 8.083. W7
IMS . . . . . 8.813.143
l*fc. . 10. OS- 900
According, then, to the average consumption of thwc three yeans, that of 1907 should
figure up to 9,496.625 kilograms
Besides, the silver emphned as alloy in gold wares, being on the average 10 per cent
of the full weight, would amount to 706 873 kilograms.
According to past experience in the consumption of the precious metals in the indus¬
tries, old material formed 27 per cent of the total in gold and 15 per cent in silver.
The results fur 1907 may therefore be represented as follows;
Gokl:
Kew material . 3cs«
Old material . .,..!!!’.’.!!!!!!!. 1,367.138
The gold thus used consisted of: p^.
CWm- . C.50
REPORT DIRECTOR OF MINT.
149
Silver:
New material .
Old material .
The silver thus used consisted of:
Coins.... .
Alloyed silver. .
Silver scrap. ..
Flno silver .
Kilograms.
. 60.270 20H
. 8,872.801
Percent.
0 2 ft
11.34
4 01
83.79
(6) The imports and export* of gold into and from Austria-Hungary for the year 1907
amounted to —
Description.
Imports
Exports.
Kilograms.
Crowns.
Kilograms
Crowns.
Coins .
10,033
27, 132, *12
23,282
a. 090, 752
Bars, virgin gold .
Bars, crude and scrap .
2,145
0,005,142
2.013
990,200
5,095.120
281,917
Cold ore, gold-bearing sIIlIi .
Total .
33 138.074
00,375,080
The above total weight* are distributed according to the countries of origin and
destination as follows:
The valuation of the import* and exports as above given is that fixed by the stand¬
ing imperial commiwieu for commercial values.
150
REPORT DIRECTOR OF MINT.
JilTSSS'* and eXp°rt of riiver into aud from Austria-Hungary in the year 1907
Doscription.
Imports.
Exports.
Kilograms.
Crowns.
Kilograms
Crowns.
Coin* .
_
4,287,824
707,8111
Bars, crude, and scrap .
Silver ore and sllver-booring slich
fib! 381
8, 268,'
49.822
7,378
Total
311,700
112,140
10, 180,658
*,117, «fl
nation ^ <li"trib"tod *c™rJin« *• countri.* of origin and deli-
Claasiftranon and country.
Coins:
German Empire. . .
BniUeriund.
Italy.
Prance. ...
Great Britain. .
Russia .
Roumoniu .
Scrvla .
Turkey .
Belgium .
Bremen .
Bulgaria .
11am burg .
Montenegro .
Netherlands .
British India. . .
Asiatic Turkey .
Other countnesv etc .
Returned wore . .
Total.
Bars, unrefined, and scrap:
German Empire.
Switzerland.
Italy .
Franc-
G mat Britain..
Russia .
Ron mania ...
Sen ia .
Turkey .
Belgium .
Hamburg..
aSJio Turkey...
Bulgaria .
Other coun tries, etc ’
Silver om and silver bearing slicb:
German Empire .
Imports Exports.
im^o^rooir^^oKu^*^v'g''TCn - *- •»• ** -<“*■*
*«Ws
SbgxumB finogSldL a WClght of W’533 «iih alloy and 52.67S6
REPORT DIRECTOR OF MINT.
153
(4 and 5) In regard to gold and silver used fur < otnmcn ial purposes, no exact data
axe to hand At the Royal Hungarian bureau for stamping and melting of metals
the following were delivered during the year 1907 for stamping
A. Domestic Roods
(1} Gold warn* . .
(2) Silverware _ _ ...
<3 ) Gilded wire . . . . ' .
a&EVS . ; : : .
ttiftfiSK !!“*!»• . «.«•
2,4fil.«0
11, its 125
372 870
;2) Ddfrrrcl id vrrmajv . .
(If tlokl watches .
(4)8UverwUcim. ...
(S; Glided wot .
(6) SUv«v wire .
1 M 654
1.4J7 610
2. MO
4.570
For the coinage of medals 1.30679 kilogram* fine gold and 9.3161 kilograms fine
silver were used
(6, 7, and 8) With regard to the import and export of gold and silver, the special
report of the Royal Hungarian statistical central txaird is given herewith:
Imports and Exports of Gold and Silver into and prom Hungary during 1907.
ClMstOeetiun and country.
Imparts.
Exports.
Value pM
kilogram
Height.
[ Weight.
Value.
Gold, unrefined:
Austria .
Onrw
2 V5O.U0
2.95U0O
KOofnmM. Oo mu.
7 30.630
90 292.050
Omi.
2.2UO.OO
2. 200.01
. 2.200.00
tCOofnn m.
69
Owrw.
151,800
6
1
11 OUO
2,3m
2,20X00
Total .
106 312,700
75
165.000
Old gold:
Austria .
Gold coins:
Austria .
Rrtoil* .
Germany .
Bwltaerland .
1.4JUO0
1 | 1,400
1.40X00
88
123.2m
UMU
£88
22644
1
•
05,571,000
2,730
M, 750
2,7ia00
2,7iaoo
2.7iaoo
2.710.00
2,:iaoo
2.710. UU
2.710.00
2.7ia00
2.710.00
2.7KL00
2,710 00
2.7iaao
4,625
42
135
3
12,533.750
113.830
355. 950
8,130
Italv .
2 75U.00
2,75a 00
5
896
11730
2464.000
Franc* .
Belgium. . . .
187
2
22
117
664
06
2
30b. 770
5.420
59.630
317,070
1,799.440
151.760
5.420
Great Britain .
Roomania .
Senrta .
Bulgaria . .
European Turkey .
Total .
2.75G.OO
2. 7X1. 00
2 730.00
2. : jo. oo
13
813
306
11
35.730
2.215.750
841,300
30.250
25, *8
71,219,300
5.855 15.867.050
Gold and silver scraps, not melted:
AmtrU
(l*rniAn F.mnirr _ . .
L40
212
297
6.60
3.65
3.65
6,384 42,134
52. 671 US, 349
250 913
I talc . _
Bnamtnii . ....
rrr
868
177 24S
46 6*
610 864
Srrvta .
Bulgaria . .
Total .... ...
1.645
1.463
59.305
235.296
Gold and silver straps, melted:
A aorta . .
Omiiuii Empire _
64.00
3
192
64.00
171.00
134
4.369
8.576
781.299
Total .
3
192
4.703
789.875
Silver, unrefined:
Austria .
102 00
35
3,605
mm
mm
6,336
23
654.008
2.399
Ognnin KioNiv
102 00
637
67.671
lliilparu
mm
mm
mm
8
34
1
824
3, .VC
103
Kim>|M^w Turkov.
Montmtgru
Total
692 71.276
6.422
001406
154 REPORT DIRECTOR OF MINT.
Imports and Exports op Gold and Silver into and from Hungary during
1907— Continued.
Classification and country.
Value per
Imports.
Weight. Value.
Exports.
Old direr:
Austria .
Bosnia .
German Empire. .
Crown*.
KJ.OO
82.00
Kilogram*.
Crown*.
574
4 91
Crown t
82.00
Kilogram*.
783
Crown*.
64.200
Total..
Silver coins:
Austria .
Bosnia .
German Empire...
Switzerland .
Italy .
France .
Great Britain .
Houma ina .
Servla .
Bulgaria .
European Turkey..
Total .
22,045
110.00
110.00
110.00
110.00
3,520
1,870
2,640
10.450
154.00
154.00
154.00
5,767
888.118
35,' 882
11.306
154.00
154.00
154.00
154.00
154.00
3. 3SS
2.310
6,120
Bars, plates, etc., of gold and plati¬
num:
Austria . .
36,800
German Empire. . .
Frun«i . .
European Turkey..
3.200.00
3.200.00
108,400
22,400
1,600.00
l.GOOLOO
1,600.00
1,600.00
6.4(0
0, 400
3,2U)
Bars, plates, etc., of silver
Austria . .
Bosnia.. .
German Empire. .
Russia .
Bulgaria . . . .
European Turkey.
85.00
’‘85.00
251,420
' "i.632
1,116
172
85 90
85 90
85 90
172
172
172
Total .
253,061
1,894
(9) \\ 1th regard u> the recoinagc of United States coins, as has already beeu stated
under No. 1, in the year 1907 six 20-dollar gold pieces were incited,
duced ^ *'rom Hungarian mines during the year 1907 there wore pro-
Crowns.
3,500 kilograms fine gold, valued at . n eo 0l«
11,870 kilograms line stiver, valued at . .******"*** . 1)212! 7*®
In Hungarian refineries were produced:
Crown*-
«°W, valued at . 9 ft*)
11,789 kilograms (Inc silver, valued at . . .'.III'. . J.’iH.**
Hungarian refineries used only material produced in Hungarian mines, for
ti^wiS^hnMmTffn! ^ldand *lver P^uced by the refine^Tnearly iden-
,lhat fr°m l.he Hungarian mines. (In the estimation of values 1 kil«-2nmi
*04 ^a^dd15)^Sro^rii^2S»T,718’ n d ot silver, at 104.70 crowns )
atWe die of “d lnlver 0010 and bullU in **“ WUDtry
were w at * the end of the year 1907 there
In the btate trisnrv^ p<>ld 5,380.1108 kilograms fine silver
crowns6 In °nd ofuthe ycar 1907 ware in gold coins 4.919,010
crS2T“- ln S^ulation there were about 104,000,000 crowns.
1907 amounted in vdSTto ? ^ end of.tho .?'*
This amount of bullion
REPORT DOBCTOi OF MIST.
161
ud i I he entertain* any doubt in that bchaW hr may -unuaon three permn^ the
dcrwaa ot a majority oi whom shall be final.
(I Errrv oftcer employed in the rullectn oi the re venae in Caaadarfiall rnt, break,
or derfhce. or cause ta hr ntt, hr Aea. nr deinrrd every piper irf counterfeit or unlaw-
fuBv diraz>b»- i rold or si‘\er c in which w tendered U> him in javnwrt oi aa> pan
of da* revenue in Canada . _ _
4 F r the purpuecr oi this- sen** * correct r >M or aflver win include* any nun
which in is by IVt 1\ U the Criminal Code defined to include R S , c. 1«T, # 2R*
Caxana
Edward the Seventh, by the cm.v oi Gad. oi the luted kin*d « «l Grant Britain and
Ireland tad oi the Bnttsfc dominion* hewed the seas km*. iVrfmder oi the laith
Emper. r ot India, to aii la wbvua theer present* shall com* ®r who* the an* aia>
m any wise concern, preen nr
a rnodjuunox
E L. Newccaabe. deputy oi the minister oi justice. Canada
Whrreas is and bv chanter 25 oi the Revised statute*. 1«6 ladrnhted ‘An art
tTT.
- — i. — ccan* as are by antbnty <i iw tmwa etrtKk far riKulnwa ta
TV* pcacww erf 50 cent*
mi placer * M
ta the SolUnrinp projcortiuo
162
REPORT DIRECTOR OF MINT.
Touting provision and remedy
The pieces of I cent to be sampled in groups of 80 and weighed against a weight of 1
pound avoirdupois, with a remedy of 140 grams.
Of ull which our loving subjects and all others whom these presents may conc ern are
hereby required to take notice and to govern themsel vo* accordingly.
In testimony whereof we have caused these our letters to be made |>atent and the
great seal of Canada to bo hereunto affixed Witness, our right trust v and right well-
beloved cousin the right honorable Sir Albert Henry George, Earl Grey, Vtsc-ount
Howick, Baron Grey oi Howick, in the county of Northumberland, in the peerage of
the United Kingdom, and a baronet; knight grand cross of our most distinguished
order of Saint Michael und Saint George, etc., governor-general and commander in
chief of our Dominion of Canada.
At our government house, in our city of Ottawa, this 23d day of September, in the
year of our Ixird 1907, and in the seventh year of our reign
By command,
J. Pope,
Under Secretary of Stale
Grey.
At the Court at Buckingham Palace.
The ad day of November, 1907
Prevent The King's most excellent maicvty in council
The following draft proclamation was inis day read at the board and approved.
A. \V Fitesot
By the King, a proclamation.
Whereas under the coinage* act, 1870, it is lawful for Ilia Majesty, with the advice
of his privy council, from time to time, by proclamation to direct the establishment
of any branch of Hit Majesty’s royal mint in England in any British potvoa-ion. and
to impose a charge for the coinage of gold thereat, ami determine the application of
such charge, and determine the extent to which such branch is to be deemed part
of the said mint, and to which coins issued therefrom are to be? current and be a legal
tender, and to be* deemed to be issued from the said mint ;
And whereas the government of the Dominion of t'anadu lm» applied for the estab¬
lishment of a branch of the mint at Ottawa, the capital of the Dominion, and pro¬
vision has been made by the Parliament of the Dominion for an annual expenditure
of $75,000 for the expenses of the branch mint;
Wo therefore, in imrauanro of the said act and of all other powers enabling us in
that behalf, do hereby, by and with the advice of our privy council, proclaim, direct,
and ordain as follows:
1. A branch of our mint (in this proclamation referred to as the Ottawa branch
mint) shall be established at or near Ottawa in our Dominion of Canada on such site
as the governor-general of the Dominion in council may approve.
2. Gold coins of the name denominations, designs, weights, and finenem as gold
coins coined at our mint in England may be coined at the Ottawa branch mint, and
any gold coins so coined fin this proclamation referred to as sterling gold coins) shall
be subject to the allowance of the same remedy as gold coins coined at our mint m
England .
3. The master of our mint shall prepare and transmit such dies as may be required
for the sterling gold coins to be coined at the Ottawa branch mint
4. The sterling gold coins coined in pursuance of this proclamation at the Ottawa
branch mint *<hall be deemed to have been itvued from our mint, and shall be current
and a legal tender in like manner and to the like extent as if they had been coined
and issued in England
5. (i) If any person brings to the Ottawa branch mint any gold bullion and requires
the deputy master of that branch to assay, coin into sterling gold coins, and deli\er
out Uie same to him. the deputy master shall comply with the requisition uixm > .-
incut for every ounce troy of gold of standard fineness of a charge of Scents where the
amount brought at one time does not exceed 500 ounctw, and of 2 cents in any other
case- Provided that
(a) Where the ^id bullion so brought is such that it can not be brought to the
standard fineness of the coin to be coined thereout without refining the whole or
Borne portion of it, the deputy master shall demand for assaying and refining the same
such additional charge as the go\ ernor-generul in council may from time to time fix.
and until such chaigc is paid to him may refuse to receive, assay, or com such bullion,
and *
(b) Where the bullion brought to the branch mint for coinage
standard fineness of the coin to he coined thereout, there shallbo
is finer than the
delivered to the
report DIRECTOR .if mixt.
168
penwii bringing the name such additional amount of coin v is proi.jctionate to such
superior fincne*; * 1
(e) So undue preference .hall be shown to any person as respects the bullion brought
to the branch miut. and every person shall have priority according to the timeat
which he brought it;
(d) The governor-general in council may make regulation- for carrying into effect
the provisions erf this article with rwpect to gold bullion and the bringing, coining,
and delivery out thereof, and in particular for regulating the time and conditions at
and under which it is to be so brought, awwved, coined, and delivered out, and the
minimum amount which may be so brought
(ii) The charges under this article for coining, assaying, and refining -hall be col¬
lected by the deputy master in accordance with the said regulations, either a? a pay¬
ment in advance, or as a deduction from the coin delivered out, or otherwise, and
shall l»e accounted f«c and paid over in such manner as the governor-general in council
direct- to the minister of finance and receiver-general of Canada, to be by him paid
into the consolidated revenue fund of t'anada.
6 Subject to the provision.- of ihi- proclamation, the Ottawa branch mint shall be
deemed to be part of our mint, and aocordinglv—
(<n The deputy master -hall comply with all directions he may receive from the
master of our mint, whether a- regard- the returns to be made, or the transmission of
specimen sterling gold coins to England or otherwise, and
(ft) The said specimen sterling gold coins shall be subject to the trial of the pyx
under section 12 of the coinage an, 1870, so, however, that they shall be examined
separately from the coins coined in England or at any branch mint other than the
one regulated by this proclamation; and
(c) The deputy master and oth« r officers and persons for the purpose of carrying on
the husiner* of the branch mint may bcappoiuied, promoted, suspended, and removed
and their duties assigned and solan.- awarded under section 1 5 of the coinage art, 1870.
7. Subject to any regulation- and condition- which may be made by the master of
our mint, ihe deputy master of the Ottawa branch mint shall ruin at that branch
num any gold, silver .bronze. or other coin which the governor -general of the Dominion
requires to be so coined, and which is for the lime bung a coin of the Dominion and
current and legal lender in the Dominion, but coins coined under this article shall
not for the purposes of the coinage act, 1S7Q, be deemed to be coins made st, or Lamed
from our mint . , „ ,
6. The got emor-general in council shall cause the store of bullion and com at the
Ottawa branch mint to be inspected half yearly and nose the persons im-perting the
same to report thereon to the deputy master oi the branch mint, stating the exact
amount of bullion and coin inspected by them; and copies of sue h report shall be
transmit t.d by the deputy master to the governor-general and to the master of our
mint in London. . . ,
9 The master of our mint shall, in the execution of this proclamation, art in accord¬
ance with any regulations made or directions given by the lords cummutiuniTs o* our
10. In this proclamation — . .
• £££££?- -"sssrs ** — >*«*
sss »— wlw hw-
fully exercises at such branch mint the aulhoniy of deputy master
11 This proclamation may be cited as the Ottawa ™'J™'***'*" R'
12. This proclamation shall come into force on the 1st
Given at our court at Buckingham Palac e. this Jd day of November. m thi yearoi
our Lord 1907, and in the seventh year of our reign
God save the King
I EDWARD VII.
Cun. 4. —An act «.H« in. O.uw, Ml * th. — l ( ’
\Vh«>~ i, hn, been deemed exped,™. to njlt £
ntninuiain* the e«nbli.hmen. el ibe Otu-n bwod. ■1gl,”tJ fgTLTol
lltjM, . by nod with the advice nnd oennent o4 the bemte AM 11
Canada, enacts as follows .
1 This act may be cited as uw* mi 1 (liit thr r,.n*didaied
2 There shall be payable to Hi- Ma)«t> iLEULffw Se in any vearf75.000
revenue fund of Canada, a sum or sums not h^Iuo^ncrf aid expense*
for defray ing the silanes, contingencies. h * ^ rov*i nnni PfiN ided,
cuuncvtod with the maintenance of the Ottawa branch at toe royai mm
164
REPORT DIRECTOR OF MINT.
that such yearly payment* shall take effect and begin to run on the day upon which
a proclamation issued in England by Hi* Majesty is duly published in Canada, direct¬
ing that a branch of the royal mint l*i established at or near Ouawa.
3. The said sums of money shall Ik* paid by the minister of finance and receiver-
general to such persons, and at such time*, and in such manner as the lords commis¬
sioner* of llis Majesty’s treasury direct; and the minister of finan< o and receiver-
general shall account to Hi* Majesty for the said sum* through the said lords commih-
sionersin such manner and form as llis Majesty is pleased to direct.
4. From and after the day on which the aforesaid yearly payments commence, all
sums, by way of fees, dues, or chargee, lawfully received or collected at the Ottawa
branch, shall be from time totime accounted for and paid over by the deputy master,
or other proper officer of the said branch, to the said minister of finance and receiver-
general, to be by him paid into the consolidated revenue fund of lunada.
CAPE COLONY
Import* and Exports or Hold and Silver during the Calendar Year 1907
Imports.
Exports.
Weight.
Value
Weight
Value.
Gold specie.
United Kingdom ....
SL Helena .
Mauritius .
Portuguese West Africa .
Other ports of the customs union . .
Osacca.
£110,50*
232! 750
Os era.
£2,
1,250
•a)
2.850
535,3*5
Total .
»,g8
5C,*27
Raw gold (In transit;:
Inland colonies and Stales of South and CeatrM
Africa .
United Kingdom .
Gold t tuition: United Kingdom .
Geld staff: United Kingdom . .
:.7Uj.7i3
2*. 223. 122
• *
7,?». 755
"xmi c
411
Silver specie:
Unfled Kingdom .
1
la nets
1,281
Bel glum .
1.000
Mauritius ...
Congo Free State
185
Other parts of the customs union . . . .
7.530
&0»
Total . . .
21.555
2L5»
Silver bullion: United Kingdom ...
7
Silver ore: United Kingdom _
CVL
215
Gold and silver produced from mint* of the country during the calendar vtar 1907.
Gold, 19.255786 kilograms; value, £2.387 No bilver i* recorded a* having 1h- n
produced.
Approximate stock of gold arid silver coin and bullion, and government and bank
not® outstanding at the end of the year 1907: The cash in hand, of public officer* of
the colony on the 31at of December, 1907, was £45.300. V
Statement op Jolvt Stoce Banes on December 31, 1907.
Cota In bank toilers ...
Cota m transit ...
Bullion In hand ur In transit
1 Mtf-tl
Other n<
American Consulate,
Cape Toun, Mcuxh 27, 19Q&
Description.
Amount
£. A A
6,653,382 MS
R. 500 0 0
ir,a» u 2
•1X820 0 0
647,414 10 0
- _ _
REPORT DIRECTOR op All XT.
ir>7
III PKI COPPER MINT.
Then? were* Imported during the year 5.710 ton* of copper, and 113 tons of spelter
fur use of the mint.
The cupper coin* struck were as follows: 10-cash, 082,503,000, including 103, 000,000
for Hunan ; 1,000 of these cash were equal to 03 tael cents; 5-caah, 1,040,000, anti l-ot*h,
6,170,000. Thi«t* coins were 9o j>er cent copper and 5 per cent spelter
it r pri silver mint.
Purchases of bullion (United States gold valuei, $510,000 Struck $1 (silver 01 per
rout, copper 0 j»er cent), pieces, 970,000; 10 and 20 renLs (stiver H2 per cent, copper IB
percent;; pu*co*. 447, 000
III NAN COPPER MINT.
This mint has been clueed f« >r some months j>ust, but will open during the present
month (April, 1008) The mint is planning to strike 1,000,000 10-caah pieces jmr day.
HUNAN COPPER MINT.
There were struck during the } tur 10-caah pieces, 132,000,000 (05 per cent copper,
5 per cent spelter).
Tamll op (oivs Struck dlrino Thirty -third Year op Kcano Hit) (Ferruart
13, 1007, to February 2. 1008), with Fineness and Valle i\ l sited States
Gold.
H.U1. Rom, at mlnL "»?!!!«*" NJg,T°' Vital "■— *
lb. ... I Ml*" ■ «l«i|
Do . do . 1 10 and 20 coot 447.000 B,74& l»P-r
C°"\Z 'lu.-icpn.'U.n, jSSfe tas .S
ft S::: :: ioSpia». <*».•». «» ;.,4n.si4 -
ft. 1 1 oiiant. tipper lliut. .do.. .... l«.iM».uu) ne.ooo <«>
Total \ ulus. I ntusl 8u(m cot-1 . *.KR,TU _
« Those coin* have a niwiuna of oopj- r <» > )»r «’*■(» •'* l***r r*nt-
Norr TO. .««. Ota Of lb. .11.™
value of I .UO cash •UirliiK thr \ mr mm 04*. hut Is now 0.40. 1 ho >ou » pnn n*«. u. «
to »IO,UnO i 1' lilted State* gold K
Amirkin Coksu late,
Ilankou', ('kina, April 6, 190S
Commercial Notes on Shantung.
CURRENCY
One authority on thin*. Chino- »y» ot -he common medium «t cichomtc io thi>
^Chvo (copper coin or £*). !.«?> * *j* i£
» £?. ijo-h «^W*s An:.”;
vanionce Lacaming a quantity. Hence the term strings if as
or the tenth part of a < ’ltinese ounce. ^ , aitomut at fixing a definite
The distinguished author has done well I in a\. idu g a n !lJt.( I 1,270
value upon this elusive cutn, because it 'an V ! -too ,,n the other
C**h in tliefoo for $1 Mexican, wh.le ... ran dollar is wurtl.
hand, at UnUlng. in the extreme west of ^Jdava^Mid iawnuchMtheChefoo
1,800 coah 1W were the relative va urea fcv ^ dajwi^d. injjuu ^ ^ ^
mto has dime changed, the probabilities on t . , Wl,u|,i buy more
I daces If I should carry the ( he .... £• «“•««*» tfexicn
Moxi.-un dollars, the strong nruhahilitiem ar* hat t t J Mexican dollar
dollars in the city to effect tho exchange In spiU* oi u.c
1G8
REPORT DIRECTOR OF MINT.
is probably as widely used as a silver medium of exchange in small transaction* as
any in China, it is not current at Tainan-fu, for instance, w here the tael only is c urrent.
Of course at the treaty ports and the foreign commercial settlement at Tainan-fu the
value of the Mexican dollar merely fluctuates with the exchange quotations pub¬
lished daily by the various banking corporations, but each bank has its own rate.
An instance of the fluctuation of exchange may be cited by the fact that when our
fleet was here last July they paid 54 cents gold for $1 Mexican, and now we pay 43
cents gold for the same amount. The fluctuation is not usually so great as the above
instance, but business men must take this into consideration when investing in China,
as well as tourists, who should always also guard against carrving bank notes from
port to port unless they are sure that the notes will not be discounted when they
arrive at their destination. Either Mexican or Hongkong dollars will generally be
accepted at face value at any place visited by foreigners, but many people prefer In
pay the discount on the bank notes to carrying a satchel of silver. The careful trav¬
eler will not, however, carry discount notes.
EFFECT or EXCHANGE OX TRADE
The present rate of exchange is a check to American Asiatic trade hi far as exports
from the United States are concerned. Commercial ageuLs tell me that they ran
import nothing. American flour has stopped coming. I am told that many American
exports have never been cheaper (to the foreign buyer) than at present and that
therefore our exports ought to be increasing; but a comf>arison of the rate of exchange
for last year and now shows that in order to equalize the cost (to the foreign buyer)
of $100 (gold) worth of goods, they must now be sold for $80 (gold). Thus it is se*n
that unless a reduction materially over 20 per cent of lost year’s price is made, Ameri¬
can producers are not able to hold out any competitive financial inducements to tht ir
China buyers, as the extra items of freight and insurance, j«aid in gold, would coin] « I
a discount from the last year’s price of at least 21 jkt cent.
America \ Consulate,
Chefoo , May 25, 1908.
The Selling op Silver from China.
[From the Economist, London. February K, 180S )
For some little time past the London silver market has been in a state of semi¬
demoralization. This has not arisen from any new discoveries of the metal or increased
I) reduction from existing sources, which, as a matter of fact, has been alniu-t «tattonary
or years, but can bo traced rather, in the first place at any rate, to cessation of demand
from quarters that had again become steady absorbers. When the Indian currern v
act was adopted in 1893 it was supposed that India would no longer import silvrr ou
a large scale. During the next ten years the inqions certainly were much reduced,
but in 1903 the prosperity forced the Government to coin rupees heavily, and sil'< r
was again freely poured into our eastern dependency for both government and native
account. In 1906 India is thought to have consumed about 4,750,000 sterling "f
siRer. The unfavorable outlook for the new agricultural year, however, checked
the demand, and in the absence of any other outlet a decline in price was natural
Hut there was nothing in this fact alone to warrant either so heuw a fall or such
startling fluctuations as have been witnessed, and for the principal cause of these
wo must look elsewhere. Even,- now and again there is reported to have been ht a\ y
selling from China, sometimes described as bear sales, while a few da .vs later, perhaps,
the sellers have been in the market covering their commitments. The thing has
been a mystery coming from the land of mysteries and until it is cleared up is bound
to continue a source of uneasiness China is not a silver-producing country except
on a very small scale On the other hand, such reputable currency as it possesses
is silver, and if the country were at all prosperous and its legitimate trade increasing,
there ought to be, as in India, a steady absorption of that metal. This used to b«
the case years ago, but the shameful indemnities imp<wd as the outcome of tin
Boxer rebellion converted China into a debtor naliou, and it has been struggling t
meet ita liabilities ever since Gold it has none, but on several occasions it hm
sought to pay its creditors with silver or the proceeds of it. The supply even of
this is limited, and though China has enjoyed a currency for more than two thousand
years, and in this respect easily beats any other nation on the face of the earth, it
lias been so little progressive that as regards volume it stands to-day at the bottom
of the list of civilized countries.
Of coureo an estimate is an exceedingly difficult matter, but the Director of the
l nited Slates Mint, who goes to so much trouble to acquire information, calculate-
that the entire stock of the inetal in the Empire does not exceed $350,000,000 A meric un
currency. It u not national commitments, however, that are responsible for the
■EPoirr duettor or mixt.
169
mtm-woeim. aad lor tbwe we haw to 1-4 mber t, t»de aad other rondi-
F r * p«d many ?r»i* there hat her* an *xc« a (he valor of importa over
. , and men rereoi’r this ha* pme apace. eo -Jtai mare 1*C there bw be** •
total exeme : ipwd erf W).V*>,0U) haikwaa Ueb. equinlrat at the pare
<rf *K*r d^riap the period to somethin* like L\0a,UAjBBO H-*r thina can We
M sorh an abtia£ton-«iisrhx.-?ed it ewurriv the cvfUiniv ha* not— ■ a iraxle
that pekip rtoikt mau aay help to clear up.
A partion i the aimiwni was an danbt rerenerrd dins? the Rwoan ocrapaum ai
Manrhiirit and the #mfcw*;oeai war with Ja(u. b**h ejects aSrdiae openings fcr
rWini«e traders, who suppled the invader* with in od «t.<es and material «>f nrua
* At one time, toe, Raima. apparently with the idea i eaobliafcin* her hold
i one time, too, Roam*. apparently - -
an the pfiAinr* tone firmly, flooded it. wkh ib> aid 4 ik-- RaM>47hiaMe Hank,
with nttde paper nstw which the artnto < hioaaaaa anjund on niepticrfly good
ternc* and «]_- 4 t » he credit with ka banker*. the?' in turn trujmn^tuw them to
Eery* 1r todrmpthn, a pruem the toners never ca> «la:-d on. The (--tiled a
Mtasn «rf the ever-inrretoiia: uxlebtedan*. hot that Up » sow tamed at, and dales
the harden rencs Uj nrrumuiatr- the period can not he £ar daunt when them non
be a eery «a* e llajee (W.-.i _dv the is D'etre ton-haate haw no* jene on de Lt-
; t*»h withal recej\ iac ceapemaiioc. a=J the puru n •< the indekt-
The teihd of gutiftng ontotrhi tnnntaw hae rendered the difthg rf *
twt Except in the tiwtT i«*t* thm* • no ciriiized camary whatever, ware thn
iainail? ii Wrfu U- applied to the run** cash of the interior, a *mne <* which,
wwrh ahent half a c ««, wt*&* as.yth^ fnaa 5 to I* paond* a* ardspoaa The
amtWaaez.'. between the impends mew hac* aud hi* na-ve nw*«r w thee made
tn the imaginary tael <4 the d^uxt by <rf b-A eainew and trains h** mute
to fa<m hank*. whhuot the haniire <* the silver it n jr^*nL« at all, anul ewnui-
~ 1 1 OS L/ea « or a < unern y
The ow li¬
ar inr* art-mcinc in weightnhont
<n»ert things to handle, and ore-
pockec
what The hrwpi banks haw
t- hazel i. nr df the i
illy the mrrrhax: fend.- lu a
•ne os Xew York anl a* ur at* he *■ crentw
mship ^rf mlver h» pjrdmhiy w> Jw
naeewnn:y m u. po«e^i c it. to »h^ e> «r
£li steriinr * Ent^h ^ < oasacr an u 4
tainlr a>tei nJc ramed abc*t in the tto
The MOcauc th _- rito to dm Wa^r ■
dehw r.1 ha: ielei.5 a to nauw LnaCand jwo«e
jsggjr-r
enry ma;tcr to ret t c* th» r mst 1
L *er
A htoh demand hw sfl
r lor India
ub« »y e5» *»
CM». H- :i.
lwrowrs or Goto erro t.ra*a»T
170
REPORT DIRECTOR OF MINT.
I uroms u» Gold t'Koic China axi» Honukow! into United Kingdom iy 1907.
< htsai tint ton
Ounwa | Valia-.
Gold bullion .
| . - .
13,841 £311.000
Imports ok Gold pmom West ('oast
ok Africa into United Kinodom
< lavdtiraUon
1900.
1907
Ounces. Valia
Ounce*. Vain*.
British coin. .
Jft|
1- ■ ■ - -
®
farrUni-oIn .
a. isi
X9.073
Bullion _
Total ...
wi.no'
311.308 £793.124
*».snw £1.179.28
COLOMBIA
Aruurra to mUrrogatoru*, 1907
(1) Amount of gold coined during 1907 None
19£) 1907 ■ TheCiovernment'a own mint, from August,
iSta ^Zpk^:,S'at.“,V*’r 10 *m,'Un' °* ,I 0IT'“°- TW* «*“** ™
(3) Coinage executed for other government during 1907 None.
11 “S ■! 1 w n?1. PT1**10 *° 2*»uin exact information in regard to the amount of
.'ZJ,U*edKln ,h° art*‘ F?T ,n,lu,nt* the jewels of the larger cili.-e
‘K,‘ ncMd for thc *"ld «■*
*“ Ul° finc *n* *■ Probably k« than that of gold, and I
Uiat^neVlllver ”*’*”* *10,000- Silv®r ire used for this purpam more
of mM and cxlx*#rti,of |PM aud si,vcr d“™K 1907: There was no import
of " K n ,»! • a/rw °°,n? «* th(' pockem of i»a#enger». The detriment
h *hr ,h of *»miA«l mo with a imperial report an to the
exports of gold and wlver Accorduig to this report there was exportodii* follows:
Clamiticotlon and country
To United Slabs:
OnW In ham .
Gold in diui mud nuomu .
Gold in dust and aiutdcain
Bon ot unsrporated pild and ulvw
and fdatinom uinoparaied . .
_ Silver In ban. .
To Ureal Bn Lain
Oold tn Ian .
Gold in dual and numu
Gold In dial and anuuran)
Ban ot un»rjaralod Kokl and Mtvar.
St Ivor in ban. ...
To Franre.
GoKl In ban .
Gold tn dual and nureon . .
Gold in dual and onutrain .
Bars ot uns« para led pd-J and silver
_ SB ear In lore . .
To o<ber countries:
OoW In ban.;...
Gold la dust and i
A'Unfrmm
Sjit Vi
87X 1J1
IU
23.6M
7 647
1. ASA. 715
2 112 <140
luo.no,
71.723
2.4u> 3BJ
1MI. 124
831
No report. TO rjv,,„,| by thj MxlMinl dr|«nmont (n.m th,. mull ,«,n „f Tmnn.r ■
ftLESt "f J*.“"ory .ml 1-Vbrm.ry. 1110:, but th.. uvuwl tr„ ,Lll.
gold exports from said port during th« other ten mouths were only *21, W5.
REPORT DIRECTOR OF MINT.
171
Grave doubt exist* as to the cnmpletenore and accuracy of the above statistic*
Our diligent consul at Cartagena, Mr I A Manning, obtained from tho steamship
ag*n< >c* a statement of the export of precious metal* from that port This statement
«bn«-K grave din repancie* from the report of the statistical department Far example,
$861,418. and $1,036, while the figures of the statistical department are only $22,017,
$205,137, and $0. The steamship agencies report the export of unaeparated gold
and platinum to the United State* from the port of Cartagena a* $44,1182, while the
statist naJ department report* none.
Summarizing, the statistical department report* total gold ex juried tn.iu < artagena
a* $1,383,404, while the steamship agencies rejnirted $2,057,181
From the other ports I have noatatementa from the steamship agencies, and the siatis-
tical department gives* 1,644, 802 a* their total cold exportation? There is, therefore,
reason U> believe that exj>orUtioii.* amounting to nearly one million and a half dollar*
are omitted from the figures* of the statist i<al dejiartmeiii. or that the llarranqinllu
shipment* were included with thorn from Cartagena by the steamship agent iea who
reported to Mr Manning Hut it is impossible to say anything definitely about this
discrepant-) since on the latter hypothesis the figures do not cheek up even approxi¬
mated) . and the former is men? guewwork. j
I ti* impossible to give separately theexportations of bullion and ore* 1 am informed
that \ery little goes out iu llie latter ionu. Then* are no commercial exports of gold
coin at ail A good deal of silver coin po»**s to and fro over the frouiinr with \ euc-
zueLi in the C'ucuta region, and the anno taker, plan* with Ecuador in the Paste and
Tumac o ragiona Th««e part* of Colombia arc virtually on a salver It i-* impm
sihle to give any figures as to this movement
(8) Total import of United State* gold coin during 1907 .None.
tlO) Gold produced fn>m mines of tho country and colonies of the country during
1907 : Practically the whole gold mined ia exported. . .
(11) Silver produced from mines of the country and colonics of the count n during
1907: Same amrwrr as to wlver, with the exception that the -onaJI amount lately coined
bv the Government should be add«*d , . _ Ion. v-
< 12 and IS) Output of gold and silver from refineries of the country during 190. A«
l^?nAp,m,ximate stock of gold coin and bullion in the country st the elms of the
(15? A^xiSIte'sSk of silver coin and bullion in the "l
calendar von r 1907: Very small, except in the frontier *^^"**^* ut
(16 and' 18) Government notes outstanding at the end ofthc WW, The iMoanf
of paper monev outstanding is, on account ‘*1 the fiscal j
sssmi «. « 'rvx:
medium' None of the outstanding not«t *
o. b_k note# ouuundin* .. Ik mi - *• «* *»
TTSL. currency tho reuutry lucutvoHth.o -™f* “ *• «—
and Pasto regions. . ...... n„ • _ lJu, Vrtir u*07 gold sterling drafts re-
(21) Premium on gold during 1907. Dug®* ^rh The United Slalmguld
S!&* R& that i- Ui^irtually pjj
American to one-fifth of the ltritwh PJtJ"d ^ f department of Buns* ure pub-
123) Xu reports on the option* of the nunl nor ui <u|*u
liahod
AXEHIl \N I,K«iATIOS,
Httgnln, August 7, IS***
172
REPORT DIRECTOR OP MINT.
law no. 35 or 1907 (15th or June) concerning monetary sybtem.
The National ( onstitutional aud Legislative Assembly decrees:
. Akt.. V Tbc monetary unit nnd money of account of the Republic is the gold neao
fuerte divided into 100 cento, equivalent to the fifth part of an English pound Htcrlini?
ui weight, alloy, and tolerance of deficiency in weight; 3 millimeters in diameter, and
with unlimited legal-tender qualities.
The other gold coins are the Colombian pound, equivalent to 5 “pesos fuerte* ”
!6 !a f lKmn.<1» ®9uiv*1®nf 10 2* “Pesos fuertes.” The Colombian pound shall
be 22 millimeters in diameter, its alloy shall bo 0 010| fine, with a tolerance of 0 002,
more or less.
kTim "SSfe? J^ms shall be 7.988, and its limit of weight to be current
shall be '93.787. The half pound shall be 19.3 millimeters in diameter alloy 0 91tii
tolerance 0.002, weight in grams. 3 .994; limit of weight to be current. 3 9«083
The tolerance of weight of the < olombian pound and half pound shall be the game as
the present ones of the pound and half pound English sterling
Art 2 Resides there shall be silver and nickel coins as follows:
^Tho silver coins shall be the “peso fuerte,” the “half peoo fuerte,” tho peseta and the
.. fume "hal1 37 millimeters in diameter and 0 900 alloy, with
. , °f ° ?S3 “*■ ,e* It ^all weigh 2.5 grams, shall have 3 milligram* as
n,m*ntvand "hall be legal-lender as equivalent to the gold
“p 5 110 t1D ™y°tnSlc transaction The “half \h*o fuerte” sl.all he
!•? * diumeter 0 fine, with a tolerance of 0.003 more or 1<«. shall
weuh 1-J gmms with a limit of weight to berurrent of 3 milligrams, and shall he l*«al-
eu“r Tr.UHi rr? fi° W °"P ,tn,r,BactJVn Th,‘ P®*** shall be 25 millimeters in diam-
to Knn’ a tV, °n*rj,‘° of 0 003 • «haU weigh 6 grams; its limit of weight
be 3 nuU,^am“> and 1 shall he legal-tender as equivalent to 20
cents of the gold ‘peso fuerte” up to $10 in any one transaction 1
o,18 millimeUTs in diameter; 0.606 fine, with 0 003 of tolerance;
. J ,b° an:1. U ,,ha,, have as tlie limit of weight to he current 3
m and l08aI' ■#tendCT V“hty M equivalent U) 10 cents of the gold “peso fuerte "
up to $10 in any one transaction.
mnl?h«<i^00d m ,a Binpl<- payment there shall be no obligation to receive
more than 10 pesos in aUver coin. and 2 ,*** ' in nic kel coins
Thev udll k,° n,Cki,1 C<1T "hal1 ^ve tt lewJ-tonder quality of $2 in each tramnetim.
Th, v shall be i»uod in type* of 1. 2. and 5 “pesos* in piper, which paper "peso”
ri t0 a 7unt °f aMld, (ucrto " aud ™£h! «ze\and
all,,> shall be tho same as that established for the mining of nickel coins in the Excc-
uti\e Decree No 111, 3, of 1900. published in the Diario Oficial No 12775
tiinMnJ T'l™? W?**! caUM* of the fluctuations Of paper money have dis-
a mton? to i’h« S de*tined u> amortiratiwn or conversion shall continue to In*
nlmieinto °f the Pub,l,c w'rvif<* «n accordance with the budgets
I receipts and c xjH*nses for the present and succeeding fiscal years
fluctuations in the price of pajier money shall appear, the Execu-
..pLl nrlilT ^ Ul™lu>e i{* ^mnrtiauon or conversion, and to exchange it for
aStion applyWg for 111 w Pmpoae the resources which the law has plated at »ts disp-
ths !>ninu ♦k'w° authorized to determine the design and engraving for
the coins that shall be issued m accordance with the present law
of the con t,Uit "» artua,1> m circulation in certain regions
oLlltoi country *llb authorization shall contmue m circulation under the cum-
eonditions as up to the prwnt time.
Tih® Go';crnmcnt us authorized to cause the coins provided for bv this bw
wltoLto ^ 111 °Da or ****** mints as shall bo meet convenient to the public
"5? Government is abo authorized to establish the definite circulation
opSSSLZ™1** m tbe"*ou™* ^ the public treasury when it may deem it
Art. 9. The right stipulating for national or foreign inonev shall continue in all
its vigor and consequently every obligation which Sy^^SStod^ivwble in a
cerum kind of money, must bo fulfilled in the money
^MnTeXy ^ S &W"
i9 ftV,tbnriz1od to replace by anrther i«ue of nnt« of
made in Fmdand thntSl l P080*. ,n pbco of paper •l)osl^,,,, the edition of notes
mj^^^gbuid that u now m circulation, whenever the latter shall have become
REPORT DIRECTOR OF MINT.
173
The notes issued by private banks thereunto authorized shall be included in the
provisions of article 9 of this law; that is to say. they shall be rxchanped upon their
presentation for the metallic money they express on their face or its equivalent at
the exchange of the day when they are present'd to the respective hanks
Art. 11 Article 1, 2, 3, 4, 5, 6, 7 of Law 59 of 1905. are hereby repealed, and
articles 8, 13, 15, 19, 20, 22, 24, and 26 of said law are amended
Done in Bogota the 12th day of June, 1907.
Low Ccerve Marquez,
President.
Acreuo Rueda A.,
Secretary.
Executive Offices, Bogota, June 16, 1907.
I/Ct the above be published and executed.
[l. b.] (Signed) R. Reyes
Minister of Treasury and Finance,
To Bias Valenzlkia
Mintage or Subsidiary Coin
By law of the Chilean National Congress, promulgated on December 9. 1907, the
President of the Republic has boon authorized n> order the coinage v< an amount
not exceeding 10,000.000 pesos, of ■Ivor pieces of 40. 20. 10. and .» centavos, all of
which shall be four-tenths fine Provision is also made for the coinage of nickel
pieces to an amount not exceeding 1,000,000 p«w« of 10 andocentavi*^
The law in reference prohibits the exportation of subsidiary aher coins under
penalty of seizure.
COSTA RICA.
Ansuen to intrrrogalorut. 1907.
TSSSSfe S5B51S12 s&fg ■— — r-
All from United Static. No silver <v ,nMM hullion $181 159; old silver,
Export- Gold bullion, **»«*, old ^ K^cbci n«rly »ll .«
$439; all to United States. Bullion to New \ork amt &an
""Id’ « Total import of Cnitod SUM
and melted: Imports, $320,000 , ntL n,fnJol the^BtTduSg 1907 Gold,
-p'y » s.. n. » «*« ^rWi-
C<Tl5 rdiiwd igo7°f,288.870 “coloM."
(14) Stock of gold coin and bullion in 3M93 Si h»ka Practically all foreign
of { osta Rica ($500,024.55); foreign gold. $M3 . in
gold is American No data us to bullion, b ^ ^ ^ (W0 -colone* ’ t$ti9.,500).
In circulation Crxta 000y No data fro™ which to form an
American gold (estimated'. $70°.CW0 to $750,W0^ * Jamaica negroes on the
exact estimate; a large amount u scut out in small .
Atlantic roost, which does not appear on mwuiww. of 1907
(15) Sux'k of silver com and bullion tn ih > ux, • CokiB«s” ($31$, 060),
In banks, 60.508 25 “colones ($2S,lMJ4h ai. ,
hold to secure government stiver 750). No data as to unshipped
Incirculation.approximatelv, 150,000 colons (*».
bullion, but amount is very small. dose of 1907 Did
(1G and 18) Government notm $1.71 120
“eokmos'’ ($11,788.6S); issue of f , 0*4000 "colones ($318,060).
redt-cnubb’ on drmnnd brlvcr ^ „,lt covered by l.tprl -tender Rold.
reply to No IS. I Amount of Bovcmmcnt not* not co
^ m — <* «*> — *•
60 per cent of issue.
174
REPORT DIRECTOR OF MINT.
(20) Actual money of the country at clow of 1907: Gold, fractional .silver govern-
s^or<r^^S3d^r'd’ ,n<l ■Uw '•****■ ^ ^ £■*,
(21) Gold is not at a premium.
of‘”“<1 231 No monoUry >«w» «ere iuso.1 in 1907. There ie no mint or dep^m™,
Americas Consulate,
San Jose, Slay .5, 1908.
DENMARK.
Anraerr to interrogatories , 1907.
(1) No gold was coined in Denmark during 1007
(2) The following is the amount of silver coined during 1007:
Denomination.
In 2.Vorc pieces. .
In l O-ore pieces
Also for the use of the Danish West Indies
In 2-franr pieces .
In 1-tranc pieces . .
None of this was recoinagc.
Coinmg° ox1ort,t'‘<1 f,,r governments during 1907
a SS?08 “ to M** wrlfhl "* fino 8»W and fine silver used in the indus-
tnal arts during 15)07 are not obtainable
(6 and i ) Import and export of gold and silver during 1907. Darina 1907 17° SOU
kroner in gold coma was imported from the Danish Woetlndies "
In 1907 gold was exported in coin—
To Germane .
To Kngland
To I>wilih West Indies
To Xonrav
To-6w*dcn .
Kroner
A«.7.440
a,UOKO»
Total
. 1A. 771470
There wan no import or export
No gold in bullion or ore was exported or imported
of silver during 1907.
dunngl907 N° Uniled Suu* 60,(1 rx,in w** imported or deposited at mint and melted
!10 and 11) Denmark has no gold or silver mines
*}•“£ 13) Tboro are no gold or silver retinem* in Denmark
isu wl- approximate stock of gold coin and bullion in the country at the close of
Gold rains . . . -
Gold bullion . . SlSSS
The figures as to the distribution of this stock of gold are not available
, on- of -sUTeU°*n aud bu',ion »n the country at the cl.**’ ..f
nnSISi kTonw* m «*“• T1“‘ bgures os to diacribution are not availabk
- J ThT W‘,r? n,° p°vcrnm^ut nous outstanding during the year 1907
(D and 19) At the end of the year 1907 there wer.- outstanding 123.01)0,000 kroner
°f ,h,° N.allonAl^kt'“ ’There were. >t. 000.000 kroner* notes of the National
(20) The actual currency of the country at the close of 1907 a us -
. m.ojo.u»)
coimtryThtn? ** n° prvmiuni 00 601,1 " co“P*red with the actual currency of the
(22) Laws passed during 1907 affecting the currenc) : Copies of the proclamation?
conrenunn small coins are inclosed F *
*° **“ urK,n4tJ,u“ ol the uunt are inclosed. There is no Panidi
American Legation,
Copenhagen, Much 18, 1908.
REPORT DIRECTOR OF MINT. 175
Notification Relating to the Coining of 20 and 10 Kronen Gold Pieces.
At the finance ministry under Danish representation it has pleased llis Royal
Majesty, by the supreme resolution of October 17, to approve the coining of 20 and 10
kronen gold pieces in future, with the following design
On the obverse: His Majesty the King’s effigy; on the lower edge of the image the
engmver’H initials; surrounding the image “Frederik VIII, Danmark* Kongo ’
(“ Frederick VIII, Denmark’s King"), with a rosette before it, between and after the
words; with a pearl-wreathed border.
On the reverse The arms of the Danish Empire with canopy and crown; under
this the year of coinage and mint value pertaining thereto, “20 kronen" and “10
kronen, ” together with the mint mark ana coiner's initials, surrounded by a pearled
border
Which, I hereby make known by public advertisement for all r-oncorned.
Finance Ministry, December 30, 1906.
Vilh. Lassen.
Notification Relating to the Coining of New 25-Obe (Silver) Pieces
At the finance ministry under Danish representation it has pleased His Royal
Majesty, by ihe supreme 'resolution of April 18. 1907, all graciously to approve the
coining of 25-bre pieces, with the following design ,,f n .
On the obverse Within a border between two rosette* . Fredenk * MI, Dram
Kongo” (“ Frederick VIII. Denmark * King’ ;; on the inside Hn> Majesty s effig) ,
under this the engraver’s initials, G J
On the reverse; A decorative bordered run with twelYMlivwon* in the n«dd»««
this the value; to the left the date of the year; toward the right the mint mark and
^WhieliT hereby make known by public advertisement for all concerned
Fin&nco Ministry, April 24, 1907. Vilh. Lassen.
Notification Rtiat.no to the Coin.no or New 10-Oke <Silv„, Piece..
10-tirc pieces, with the following design .. “Fmlerik VIII. Danmarks
On the obverse Within a border between Maiceity’s effigy. and
Konge” (“ Frederick VIII, Denmark s King ); within this ills Map* >
under this the engraver s initials, G J twelve divisions; in the middle
Oo the reveree: A wi«.h«l docor.Uv«^^ ^'^'^“v^ ml„, eUmp
of thU the valuo; on ihe loft the dale of the yoar, to tut ngot
“htwby make kuo-o by pubUc advoni^oat for all concerned
Finance Ministry, May 30, 1907. Vilh. Lassen.
Notation Rtiat.no to the Conmia or New 5. 2, ano 1 On.
At the finance ministry under Dan pxg; * all graciously to approve
Majesty, by the supreme resolution of • following design: , FK
the coining of 5, 2, and 1 ore piww V)**, iu-ide of this a • rown. underneath II
On the obverse. A pearl-wreathed ngfat the engraver s uuUak,l.J-
(two !•' *) interlaced over a figuro 3: u,|de^* ,i ,he nm. inside of this a *».**(
On the reverse: A pearled border sutTmmdw^^^nt mark, date, and cmners
Kingdom star (*). Denmark. Bt" ^ 1 framed nm wuh four curved divunoiu.
initials; in the middle the value encircled bj * iron,
linked; outside and around this a for all coaceraed
Which I hereby make known bv public ad%ortiscm
Finance Ministry', December 30, 1900. Vilh. Lassen.
176
REPORT DIRECTOR OF MINT.
DOMINICAN REPUBLIC
Answer* to tnUrrogtiones, 1907.
(1,2. and 31 Amount of gold and ailvar coined and coinage executed for other cm em-
menu* during calendar year 1907. None , ^
(4 and 5) Amount of gold and silver u.-cd in industrial arts dunng 190. : Inappreci¬
able
(6 and S) Import of gold during 1907 $150,180 gold currency from the United
States. No exports. .
(71 Import of rilver during 1907 • $56,990 silver currency from the L ailed Mate*
No exports.
(9) Amount of United States gold coin deposited at mint and ryelted during 1907:
None
(10 and 11> Amount of gold and silver produced from mines of the country’ dunng
1907 None .
(12 and ISk Output of gold and silver from refineries of the country during 1907.
None
(14 and 15> Approximate stock of cold and silver, coin and bulliou, in the country
at the close of the calendar voar 1907 No official data.
(1«. 17. 18, and 19' Same reply aa far 1906 Government and bonk notes outstanding
at theend of the year 1906 (same as laet two > ear-0 viz None, but the Government has
assumed responsibility for the bank notes, $192,195 60 in gold value, calculating the
first itvuc at 2 to 1 and the second at 5 to 1 The hauk note* have been deprived of
legal-tender quality and the w-uing bank is no longer in operation. so the notes an* not
in circulation, but are held by speculates* **
(30) Actual currency of the country United Slates currency and ualiunal coin,
which www at 5 to 1 .
(21) Then* is no premium on gold
(22 1 No laws were passed dunng 1907 affecting the currency of the country .
(23) No report was published on operations of mint during 1907.
American Legation,
Sanio Domingo, Marc. A 16, 190$
EGYPT
Answers to %ntrrrogaUwit». 1907.
(I and 2) Amount of gold and silver coined during the calendar year 1907 : None at
all.
(3) Coinage executed for other governments None.
(4 and 5) Amount of fine gold and fine silver used in industrial aria during 1907’ No
means of knowing
(6, 7, and Si Imports and exports of gold and silver during 1907- Gold coins imported.
£E. 7,275.400: gold coins exported, i*E 4.731,413 Quantity and value of gold ingots
imported into Egypt during 1907 : Grammes, 395.640; value, £E. 53.666.
Countries imported tram or exported to.
Gotd.
SUrsr
Imparts.
Exports.
Imports. |
Exports-
England . .
Planes.
Austrn.
SSfe;::.
Greers. . .
Other countries -
EnptmM
WSM»
AXSAOTi
t. m
3HU.U2S
*a.*»
♦siU
t. 431. 414
l«.U0
u,»oo
luMtr
3BD.OS
1,383
4M.1J0
41 VC5
Ewe?*
pomndt
471.000
62
. 5,«* ,
. 15.211 ,*
M2
pmmif-
(IS
1,012
1.4.VS
a*
. i,*>
* . u
Totel .
7,rv«o
4.731.40
*12,730
4.74#
Not*.— An Egyptian pound equals Si. IK.
REPORT DIRECTOR OF MI5T.
177
Weight and value of sQver ingot* imported and exported into and from Epj-pt dur-
mr 1907. Imported, 18.536 kilogram*. value. tE.hl.'za exported, 9, 491 grams; value,
(9) Amount erf United States gold coin deposit ed at nmu and melted during 1907:
(10, II, 12, and I3j Gold and diver output from mines of the country and refineries
of the country daring 1907 : None.
(14 and 15) Approximate stor k of rrfd and aUvr-r coin and bullion in the country at
the rdose of the calendar year 1907 Banks refuse to give their cash balance.
(16 and W i No poTemment notes issued in this country.
(17 and 19) The National Bank at Egypt is the otdy bank authorized to issue notes,
as kxtg as the amount is cov«ed by secoritie* deposited with the Egyptian govern-
(20. Actual currency of the country : Gold, diver, nickel, and bank notes,
wuer to 17-19.)
(21 ) Gold coins are never at a premium in Egypt.
(22 So lavs were passed during 1907 affecting the currm<-y.
(23) So report vac published oa the operations of the mint.
Ajiejbcax Dirumanc Aoiarr xxv CoJtartaTK-Gevaaxt,
('am. Mart > S3. 1908.
(See
GERMANY
Anrurrt to interroyotana. 1907 .
(1) In the calendar year 1W7 the imperial gold coin*?-. inHuding recoinage,
ii.ass.ns
M .
In the calendar isar 1907 the Orman mints receind for rwmnags into imperial
guW coins
'2y35r— ■ /
(X) In the calendar year 1907 the imp* -nil diver "***«*• i
.. 2,721,400
2.79.00
. 7,9K.m
2S.UO.475
js.ssj.ua
HlMUi
^ «4«nv«i Iron.
_ - ku*
aTHambarg fur Gemma
Ts*a .
The metal for the silver ccaaage
**-■ -
t,~w»
M and j) For the calendar year W aibnal
mb feci
04472 — 06 - 12
d*u have been collected on t
178
REPORT DIRECTOR OF MINT.
(<J, 7. and 8) The imports and exports of gold and silver, according to the countries
of origin and destination, are given in the following table:
Imports and Exports or Gold and Silver in the Special Commerce or the
German Custom-House for the Calendar Year 1907.
• Exports included in fine fold (sflvnr), alloyed gold (stiver), etc.
In the calendar year 1907 dollars and eagles to the amount of 2,369 0580 fine kilo¬
grams were recoined into imperial gold coins at the German mints on private account.
REPORT DIRECTOR OF MINT.
179
Imports and Exports or Gold and Silver in the Special Commerce op the
German Custom-House for the Calendar Year 1907 — Continued.
Country of origin and destination.
Fine sQver, alloyed sil-
nr. raw or Ingots.
Imports. Exports.
Italy .
Naftartap
1.722
2ft. 272
182,(150
ids. .
Norway.
Austria- Hungary. . .
Russia In Europe. .
Russia In Asia. .
Finland .
Switzerland .
Gorman East Africa. .
Toga.
Argentina. .
ChRe.
Moylep .
Uruguay .
United States . .
Dutch Australia.
Other countries . .
Total..
10,81ft
4.124
89,710
3,<X»
5.974
40,160
77.761
020
2.337
15,861
43,464
Imports. Exports.
Exports of
gold and
sliver not
specified.
Kilos
3,010
20,042
11,328
»
o.wi
11.6(0
1.386
1,128
ft, 436
recapitulation.
(c) Gold:
Imports, coined gold, columns 4 and 6. .
Virgin gold and ban, column 1
Exports, coined gold, columns 5 and <
Virgin gold and bars, column 2. .
(6) Sliver:
Imports, coined silver, column 13 .
Virgin silver and bars, column 11.
Exports, coined silver, column 14 .
Virgin silver and bars, column 12.
(e) Gold and silver scrap:
Imports, columns 10 and 16 .
Exports, column 9 . •••••••
(d) Exports of gold and silver not specified.
33.433
43. M2
67,9ffc
IK. 647
46,170
271, 361
21,576
254.580
54.660
*,OS3
28, 106
M. 075, 051
117, 496. VO
171. 329. ToO
50,533,870
3,714,377
24, 259,673
1,745,498
22.874,013
• 21.388.540
2.382.590
3,611.479
• Estimated value.
(10 11 12 and 13) The German refineries in 1907 produced 4,082 35 fine kilogram*
of gold, valued at 13,071.106 marks, and derived from the following source*
From domestic ores. . .
From foreign ores. -
From domestic and foreign lead
From domestic and foreign refuse . .
The refineries in the aune year produced 386,932 .54 fine kilograms of eilver, valued
at 34,665,207 marks, and denved from the following eourcee Vllrti
158.260-83
From domestic ores .. . 165,193.143
From foreign ores , , . . •3,772.40
From foreign and domestic separating lead . . . o 50 70617
From domes lie and foreign refuse . .
Kilos.
100. 14
463 05
• 38.50
• 4,080.66
These two Hems might be included under the latter heading only.
180
REPORT DIRECTOR OF MINT.
The German territorial possesions yielded neither gold nor silver in 1907.
(14} The coinage of imperial gold’up to the end of December, 1907, exclusive of
recoiiucv. amounted to 3,696.88S,220 marks in double crowns, and 691,047,860 marks
in crowns, or a total of 4.387.936.0S0 marks.
It can not be accurately stated how much this amount has been reduced by export
or other causes.
The stock of gold in the Reichabank at the end of December. 1907, amounted to
401, 296.000 marks.
The stock of gold bars and foreign gold coins in the Reichsb&nk at the end of Decem¬
ber. 1907, amounted to 96.252,000 marks.
( 15) The coinage of imperial silver up to the end of December, 1907, exclusive of
recoinage, was as follows:
Marks.
230, 757. 57. V 00
ail.75S.074.no
Total.
906, 230, SM 50
How much of this amount is to be considered as Uwt to circulation can not be
established .
In the stock of Lhc Rcichsbank at the end of December, 1907, there was 181,180,000
marks of imperial silver coin.
The thaler pieces were withdrawn from circulation by the proclamation of the
imperial chancellor dated June 27, 1907, the same going into effect October 1, 1907.
The period for the redemption of said thaler piece* expires September 30, 1908.
According to the latest cc-timate the*e thaler pieces in circulation and in the stock of
the Reichsbank amount to 32.900.000 marks.
( 16 and 18) Imperial treasury bills issued up to the end of December, 1907, amounted
to 120,000.000 marks, an amount that equal* the war fund which the Empire has in
reserve in gold coin
(17 and 19) The circulation of bank notes, which is regulated by the (tanking law of
March 14, 1875 ( R. G. Bl.. p. 177 . amended June 7, 1899 (R G. B1 , p. 311 1. and by
the law of February 20, 1906 <R G. Bl.. p. 318*, relating to the issue of imperial bank
notes in the denomination oi 50 and 20 marks, amounted to 2,026,949.000 marks at
the end of December, 1907.
The issue of uncovered bank notes ( that is, in excels of the cash reserve in the issu¬
ing bank* at the end of Derember, 1907. amounted to 1, 164.284.000 marks The cash
reserve of these (tank* consists of current German com, imperial treusur> bill*, the notes
of other German banks, gold in ban*, and foreign gold coin, the fine kilogram being reck¬
oned at 2.7S4 mark-
(29) The only change in the em ulating medium of the country was the demoniti-
zation of tho thaler, ms mentioned under No. 15.
(21 \ No.
(22 1 No.
(23> No report of the operations of the mint is published.
Proclamation or Jrxc 27, 1907, Rclattv * to thb Withdrawing from Oirccxa-
nox or the German Thaler ^R. G. Bl. p 401)
In accordance with articles 8 and 15, section 1, paragraph 1. of the monetarv law of
July 9, 1S73 (R G. Bl. p. 233), the Federal ( ouncil has made the following order
Far. 1 After t Vtober 1, 1907, the German thaler pieces art' no longer a legal tender
After that date no person is obliged to accent the aforementioned coins in payment
except the properly authorized bureau of redemption
P^- -- The thalers designated in paragraph 1 of thb proclamation will be received
m payment or exchange at the rate of 3 marks to the thaler until September 30. 1908.
at the imperial traasury
? J^° obl?S*li«u lo rmve and exchange (par. 2) these coins will not apply
to holed, light-weight, or counterfeit pieces.
Berlin, June 27, 1907.
ChaneeUar of tkc Empvr,
Vice, Freiherr von Sirs
tSGEL.
BEPOBT DIBECTOR OF MINT.
181
Modifications of the Monetary Reuihe (Law of Mat 19, 1908).
I From Bulletin de Sututique, Part*. Jane, 190&.J
The Reichsanzeigner. in its number of May 26 last, has published the text of a law
whose first article modifies the monetary regime of the Empire by creating a new silver
piece and a new nickel piece.
The silver piece bears a value of 3 marks, and it is to be coined at the ratio of 33J
per pound of fine silver. (It will not, like the old thaler*, have unlimited circulating
power. )
The nickel piece bears a value of 25 pfennigs.
The second article of the same law carries the total amount of imperial silver coins
from 15 to 20 marks per capita of the population.
Debate in the Prussian House of Delegates, Januart 21, 1908, on the
Subject of Coinage.
Count Kanitz (Conservative) said: In a country having a silver standard, such as
France, the crisis has not been felt so acutely. France retained a discount rate of 3$
per cent, whilst in Germany it rose to over *7 per cent. Deputy CrQger i> therefore
wrong in his assertion that the crisis was most felt in bimetallL-tic countries. 1 am
Suite in accord with those who desire a considerable increase of the silver coinage.
ince the interpellation took place in the Reichstag I have received many letters
complaining very bitterly of the scarcity of silver coins. The withdrawal from cir¬
culation of the thaler (3-mark piece) is regarded throughout the whole country as a
false move. There ore said to be 25,000,000 thalere still retained in the Imperial
Bank. Let these be put into circulation again. 1 beg the Pnt*ian Government to
use its influence in the Bumlesrat in order that the present rate of sil\er coinage of
15 marks per head be increased to 20 marks at least, or even to 25 marks per head.
Finance Minister Baron von Rheinbabcn: I do not wish to enter into a debate here
on the coinage, for it would (certainly never come to an end. Whilst in my opinion
our gold coinage should be maintained in full and not disturbed in any manner, the
important question before us now is, How the circulation of hard money may be
increased. My experience has shown that, for the payment of wages, the agricul¬
tural industries are not sufficiently supplied with coin. Therefore. I consider it
worthy of consideration; I may say, even advisable, that the rate of silver coinage
5er head should be increased, but without interfering with the coinage of gold. I
oubt whether the rate should be increased to 25 marks, though I consider it advis¬
able to increase it to 20 marks per head.
Furthermore, the coinage of a 25-pfpnnig piece in nickel is not a question of prin¬
ciple but of practical daily requirement, and the necessity of having such an inter¬
mediate coin between the 10-pfennig piece and the 50-pfennig piece appears to me
to be verv great. According to law, we are fully authorized to coin such a 25-pfennig
Siece. \Ve shall bo obliged to do so because our trade demands it. It *<>uld be
iflicult to make the 5-mark piece of a more convenient size, because if its diameter
be decreased its thickness must bo increased. I have made several experiments,
but have not been able to arrive at a solution of this problem These experiments are
still being carried on.
GREAT BRITAIN.
Aruxcert to interrogator*, 1907.
(1) Gold coined in London during the calendar year 1907:
Light gold coin withdrawn from circulation and recoined .
8ovw«Izm . .
Mall sovereign* -
Total .
No foreign gold coin waa melted during the year.
iT18.404.000
3,087,000
20, HI. 000
£1,813.000
1,387,000
'J, TOO, (JOG
182 BEPOBT DffiECTOB OF MINT.
( 2 ) Silver coined in London during 1907:
Half crowns .
Florins . £461,538
Shillings . " . 'Of 792
Sixpences . 704,0*
Threepences . 218,196
Maundy a . . ! . . . 60,390
Total . . . — -
n&JSEL0* wlt^(lraJwn,from1 circulation for recoinage, £721,137 4b. (kl
ouI^ob ^]n!ln^hr0f w UDdro<1 ,ai?.d e«hly*nme thousand three hundred and forty
coinage m3 ,n^d0fe ww melu?d “ connection with the imperial
297,416 ounceB, standard, in connection with the colonial coinage
in nddiHo^ST^T for. foreign governments during 1907
for Britilh rohmiSw •‘Si 81 T’ und hronze coinages, the following coinage
tor lintish colonic* were executed at the royal mint, London, in 1907: ^
Silver:
Ouiada, 80. 26 10. and 5 cents . 1AJ _
Newfoundland, SO cents . — IJ.lM.0tl0
2.lllf!hJ,OI?du,»*> M“d' »©inu .. . ®9
Straits Settlements, dollars and 60 rents . . *24.500
Ceylon, 25 and 10 cents . ' . S<», * 30, 000
Cyprus, 18 and 9 plastic*. . . Hs. 80, ao
Bronze: . . £5,000
Canada, cents.. .
Newfoundland, cents. . . - *24.000
Nickel bronze: . *2.000
Jamaica, id., id., and 4d
East Africa and Ugmnaa, 10 cents £1,700
Nigeria, id . . . »u cents . Rs. 100.00
Aluminum. . £3,000
Nigeria, cents .
_ . . Rs. 67.SU0
trial art* during *vm****>*e M the amount of gold and silver used in indus-
(6) Imports and export* of gold in 1907:
Description.
Imports.
Exports.
Weight
Value.
Weight.
Value.
Coin:
British .
Ounce 1.
2. 132,791
2. 554.412
lQr tMJK
£8.303. 187
8,829.056
39.950.304
845,093
Ounce*.
4,835,304
1.430,827
6,541.402
£18,808,871
5, 467.(06
26,589.442
Foreign . .
Bullion. . .
61,054.020
T»tnl
123,055
. - . i .
58.066,005 f 12,803,293
80.806,009
(7) Import* and export* of nilver in 1907:
Description.
Imports.
Exports.
Weight
Value.
Weight
Value.
Coin:
BriUsh .
Ounce*.
Z®*77®
35, 730.353
£211,390
4,415, 463
11,357.039
2,244,930
Ounce*.
4,973,705
23,767.218
89,972,835
£1,358.789
3, 088,866
12,473,174
Foreign ... .
Total .
• Fourpcnees .
118,713,758
16,990,849
Twopence*
Total,
REPORT DIRECTOR OF MINT.
183
(8) No United States gold coin was imported from the United States of America
« United State* gold coins were received at the mint for coinage during 1907.
(10 and 11) Output of gold and silver from mines of the country and colonies of the
country during 1907: No information as yet available. . 1il4Vr
(12 and 13) Output of gold and silver from refineries of the country during 1907:
No information available. . , . _ . ,
(14) Approximate stock of gold coin and bullion in the country at the close of the
calendar year 1907: The estimate of the volume of the gold currency in banka and in
circulation in the United Kingdom is £116.000.000 in sovereigns and half sovereigns.
No details are available as to the amount of gold bullion m the country
(15) Approximate stock of silver coin and bullion in the country at the close of the
calendar year 1907: The volume of the silver currency of the United Kingdom is
estimated at the nominal value of £24,000,000, but the stock of silver bullion in the
country is unknown . , , _
(16 and 18) No notes are issued by the Government
(17 and 19) Hank notes outstanding at the end of the year 1907 : The average weekly
circulation for the month ending December 7. 1907, was
Enrn^QofdEnKtMid(nu>nthi'ndin*I>cocmbcrll) .
I’nvatr banks .
Joint stock tanks . . . . .
„ . , ... ®.MJ.S64
Total . „ 7.710.5*
(2) Scotland . 7.MO.W3
(1) Ireland . . . . .
Total tor United Kingdom .
Bank notes outstanding not covered by legal-tender gold and silver coin or bullion
at the end of the year 1907 :
Amount of notes In circulation In the United Kingdom . £**»J*>
D— (ffoSd coto and bullion bold In the Bank of England against note, to ^ ^
(SMJoki'sZd silver iield by SoottUh and Irish banks of Issue . ■ • 10,686,408 145,072
• 2l, 129,630
Total .
(20) The currency of the country is gold, with subsidiary coin* of direr and bronze,
T-> “~Yo SL.pricoo, go.d uj ft. London market
during 1907 was 78s. td. per ounce, standard, and the lowost, 77s. 9d
(22) No change in the currency was made in 1907
(23) A copy of the mint report for 1907 will be forwarded M soon as published.
" •Thi3 anu>uUt^lud« £lS,4M,(X»,whl^ tbo Bank of England is autboriiod lo Issue against securities
184
REPOIiT DIRECTOR OF MINT.
Quantities op the Registered Imports op Gold and Silver Coin and Bullion
into Great Britain, 1903 to 1907.
[From annual statement of the trade or the United Kingdom with foreign countries and British near*.
slom, 1907.) ‘
Gold coin and bullion (total quantities)
1903.
1904.
1905.
1900.
1907.
Russia .
Ox. trvp
Ot. iTOf
ozn,
Ox. trap
Ot. trap
Sweden .
25
Denmark .
37
258
25.080
2,016,204
Germany . .
Netherlands ... .
34.63
190,fl43
218,699
70,238
46.457
19,684
514
475.494
600, 126
451.565
Belgium .
France . .
Portugal. Azores, and Madeira.
Spain and C anaries
R»»y -
84,272
14,259
10i903
17, 20B
IO) 334
10, 164
’ 33,' 923
8. 121
Turkey, European .
2.478
125
Turkey, Asiatic _ .
. 47
. io
. 2
Morocco ..
\N eat coast of Africa i foreign .
09,972
453
337
7,781
304
40
64,140
4.W
5.336
124,777
18,834
467.521
6,930
Java and other Dutch possessions In the
Indian scaa .
China .
250
Japan .
United States of America
Mexico .
15
7.689
6,087
• 19
6,505
18,576
170.006
Republic of t'olombia .
128.994
2,582
136
7.452
Venetuela .
Peru .
^356 |
*5,634
150
8,323
104,379
128
40,£Si
*233
Chile .
Brazil . .
6. IV.
3,367
3,043
Uruguay . _
*977
113,987
165
94,616
32)l00
Argentina .
Other foreign countries
1.248
12,955
707 '
289
Mi, 427
33,391
31,119
53,014
Total from foreign countries
929,810
1.044,214
1.309,557
0 ... 1 ,
Channel Islands. .
Gibraltar _
Idd, V1W I
4.04Df
15.137
3.951
13,475
3,927
17, 181
9.252
14,857
12,969
14,067
13.0D0
Cyprus .
4.495
129
335
60
15,404
4,622
6,629
5 «t «>asi of Africa (British) .
British possessions In South Africa
71.129
3,795, ION
80.238
4.461,087
150,388
Zli.568
7,004,316
305.209
8,013, 138
Aden..
British East Indies .
Strolls Settlements. .
1,030.068*
72.876
**1.969,283*
1, 758.211
39
827,965
39,273
*** *547,532
Ceylon .
{!
48, 445
50,31 1
llonekong .
16,518
10,040
7,061
02,442
9. 10»
Australasia:
West Australia.
613, 169
2,890
1,030,774
South Australia
°lo) 741
*92'5‘.
Victoria .
44,940
7, 704
New South Wales. .
Queensland .
479*201
292,685
27,969
211,190
16.559
153,801
290
78.147
46,668
387, 565
299,529
105,687
207 >1
New Zealand.. . .
11,442
33.155
27
103,260
155)242
Canada.
British W est India Islands
British Guiana .
Other British pnvuYii 1 > in j
68.210
44.621
13
65,954
40.852
64,456
Total from British possessions _
31
1.080
393
768
6,580,489
7.897,764
8,990,928
10, 089. 136
10.314,677
Grand total .
7,510,399
6.941,978
10.300.485
12,245.046'
EEPOBT DIRECTOR OF MINT. Ig5
Valles op the Registered Imports op Gold and Silver Coin and Bullion
into Great Britain. 1903 to 1907.
Country whence Imports!
Gold coin and bullion (total value).
1903.
1001.
* 1906.
1906.
1907.
Russia .
324 333
6462
704, 494
3,965.833
1,957,706
10.544,733
194,324
188.061
409
Denmark . .
Germany
Netherlands .
SUM
030 .UJL’
3.641.130
4,139 830
1.336.399
877.637
307,286
9.733
46.947
2,311
1,325.790
8,273
6,214
64.905
8. 964,501
907,257
1,986 8*o
2,200,385
646.(128
265.160
‘ii, 370, 624
1,041. HA
3.483.7M
1 , 777* . 79*4
90S, 478
130. 157
6486,650
37, 7(12,327
3.763.513
5.163.216
25,125,777
630,877
160,230
France. . . .
Portugal, Atom, and Madeira .
Spain and Canaries . .
Italy .
Turkey (Asiatic). . .
SgK* . :
Wert coast of Africa (foreign i
8*8
153, 713
6 oJ9
730
170
1,217 428
8.103
103,601
6.2W
49
1 2,364,564
343,607
8,860. 199
127.736
Java and other Dutch possessions in the
Indian seas .
47, 060 "
•M.m
308
United Slates of America
145.628
127,001
123,853
346.101
3,183 996
Mexico
Republic of Colombia. .
2.441.737
48 913
1,500.231
35,096
*1,398.039
106,761
2,847
874,291
1,161.407
4,380
Peru .
2,' 482
141.153
Chile. ...
i IS. 964
157.947
62.408
57.902
1,931.607
608 313
592 321
941,974
Brazil . .
Uruguay .
2,146.9t>4
18,371
2,157.036
3,103
1,978.033
2.433
1 1.796.950
Argentum . .
Other foreign countries.. .
23.M13
233.198
13.383
437.049
6.485
763, 125
2.
390. MJ
Total from foreign countries _
17.593.053
19.770.297
24.085.940
40.617.332
91.004 832
Channel Islands. . .
Gibraltar .
28 4.082
73,932
2M.241
73.787
1 324,206
174,900
279.872
244 970
87.507
S.SS9.7®'
125,135.730
730
15.7W.0SO
730.494
1,183,817
3uS, 117
moM
Malta _
Cyprus
85, lot
2.433
1,339.193
68.229.517
19.708,153
1.381.512
' 312i'J80
13,415,631
317.296
6.327 1
1,119 1
| 291.990
West coast of Africa t British). . .
British South Africa.
Aden .
British East Indies . .
Btoalts Settlements .
£ylon .
1,671,700
79.531* 0W
' 37,335, 2S2
1,135.237
257.963
2 788.797
103 500,130
33,337 277
OIS. 177
134.140 |
143. ®M«
10,387.734
960.719
172,606
SSSSX:
West Australia
South Australia.
13.138.139
IS, 249
11,712, m
54.748
630.118
4,105.871
437,978
2,952.983
6.451
1,441 345
884,808
19.700
19,455.639
861.6®
7.345.641
5.697 260
333,ta-7
663. 146
umS
7.417
183.448.902
14.835.310
145.995
2.003,774
Victoria . . .
New South Wales . . .
Queensland _
New Zealand..
Can via
British West India islands
British Guiana. . .
Olhor British possessions
720.5*8
9.443 584
1.857.240
2.557.901
1 . t! 533
845.574
343
865,011
6,701.313
453 246
2,573.084
1.249.608
774.119
584
3.907.366
73,343
1,976. W4
1,306,490
14.507
186,816 680
Total from British possessions
Orand total .
121,867.660
130.461.303
146.000. 118
1M.W0.415
187.090,062 j
234.006.364
277.831.412
186 REPORT DIRECTOR OF MINT.
Quantities or tiie Registered Imports or Gold and Silver Coin and Bul¬
lion into Great Britain, llXtt to 1907.
Silver coin and bullion (total quantities).
190S.
1004.
1904.
1006.
1907.
Russia. . .
*■■1.
Os. trnp.
h 619.3#;
Os. fmp
13,374, 754
Of. Crop.
Os. /rap.
Sweden .
211
Denmark. . ......
»<)
3.315 766
364.876
Germany
Netherlands
'2.7 14. 771
ac.Ms
ur mi
4.sn.««
# Tta.
I’m.Mh
20
4.7W
20. $32
Si
173.575
17.009
305 710
30 074
73. 070.(4#*
LVtAJ
1 £1 t«l
M.nr*
3,178.405
536. 8M
3. 166.776
474.214
2.306.942
667.472
736.746
2.772.171
2.008
437,297
078
11,731
119 <04
99 544
Frauen*. .
Fortuital. Aaoro*. and Madeira.
Spain and Canaries. .
Italy. . .
Turkey | European * . .
Turkey i Vslatlc)
Morocco . .
Wwt const of Africa i fonplen *
China ....
2, 413 *422
•<051
1,010.347
14 140
4» 075
23,3116
106. 400
344
1 2.ST.0W*
2, MB
, 335.743
1.081
23 114
1.UJ0
366. Ml
33.313
3. 14V 275
1.730
377. MB
644
27.308
105 AM
362,00
Japan .
lulled Suta . ... .
12.772
117 4'*.i UKl
1.904,316
2,359,414
U4.643 (US
1,044.022
Mexico .
Colombia
*_ 6.134
Heru .
Chita .
i4. m
210.254
1,346.301 <
11 null
Crufiiuv ...
ilS
2.196
1 “lS
it’ 436
2. 177
4H5.LJK
2 000
(U *A
7,443
ArrrnUua
Other forelcu count rlM . . .
147. 496
10.070
230 231
2.472
912.003
15.612
U.lfc
Total from foreign countries .
84.301.380
95 448.990
1UK. 074. fc5
I29.476.1S5
107. IH2, 110
Channel Islands. .
Gibraltar..
Malta .
Vyvrm
3.548
161.237
30 444
13.064
14.946
13.324
21,818
30
92.735
26.813
■ fi |
60.610
« wt coast of Africa ( llritLdi i
British pumantons In South Afrtra
Aden
DriUsh East Indies* _
Straits SaittamouLx
<£ylnn .
BEMferinRg.
lurinhu
West Australia .
South Australia _
Victoria
DA. ITS
263.60
757 WO
8.aoti.AU
364,4.10
316.230
«i*4fc
. 11
4.007. Ul
611.614
691,647
674.671
H5.CS
396
83b
194 3U2
367.710
. 641
*1.004,439
3.061. M)
210.118
11.1. M3
87,346
*2.' 215.
H.01H.W4
T.CT2J
IV U»
4. Ml
41.AQ
2,4tH.um
BO. 096
42-t N“
1®. 204
183, 180
- , *_>
»sav4
90,440
206,854
. is. WB
31H.45J
6.312
Now South Wales .
O (Mansion d ....
Now Zealand .
33 VO
tO. 630
2S.K54
8.2X2
Canada
43*.07S
331.3TB
C*.v’2
Newfoundland .
British West India Lslauib
British Guiana ...
" 17. AO
MB
1M.0«)
54. .i r
07
64.7»
2.737
SUMS
1.273
218,200
Other British |WMiail(iD.< . .
lit:
316
1,099
3.661
4.040
Total front British poomaions ....
13,713,600
0, 030.016
2,519.605
6.100.144
19,660 148
Grand total .
fc.m.000 dtM.67l.016
110. 394. 680 13A6B6.&13
136.851. 2»
REPORT DIRECTOR OF MINT. 187
Values op the Registered Imports op Gold and Silver Coin and Bullion
into Great Britain, 1903 to 1907.
Country whence Imported.
Sliver coin and bullion (total valno).
Sweden . .
Danmark. . ...
Germany .
Netherlands .
Belgium . . .
Prance .
Portugal. A lores and Madeira. .
Sgain and Canaries .
Tui£ ev ( L uropcan j .
Turkey (Asiatic) .
est Coast of Alrica (foreign ). . .
China .
Japan . ..
United States .
Mexico .
Colombia . . .
Peru .
Chile .
Brazil . .
Uruguay . .
Argentina .
Other foreign countries .
Total from foreign countries. . .
Channel Islands .
Gibraltar .
Malta .
Cyprus .
>\esl Coast of Africa (British) .
British possessions in South Africa .
Aden . . . .
British East Indies .
Straits Settlements .
Ceylon . . -
Hongkong .
Australasia:
Weal Australia .
South Australia .
Victoria . -
New Sou til Wales .
Ouecnsland .
New Zealand .
Newfoundland . .
British West India Islands.
British Guiana .
Other British possessions . .
Total from British
Grand total .
2,2*2.798
10,599
161, 368
24
6.409
17,193
80,010
■NBtB
059,255
61,162
236,858
579,507
1,382,251
0.828
603,206
1,934,127
154,802
395,812
1,502,901
2.802
234,356
1,953,909
312,098
341,404
2,055,371
9.548
252,284
1,400
10.434
137,02b
16,425
215,808
63,119
487,130
7,835
175, 459
1,168
47,617,805
3,509
992,819
116,134
120,909
081
8,293
72. 40*., 789
1,169,970
846,411
20,001
18,094
29,199
15,802
24,839
124.090
195,877
104,790
2,966.341
320,732
304,987
856,747
1,582,313
136,754
35,112
945,342
17,154
245,992
11,986
323,009
16,013
541,875
76,404
175,248
5,504
213,075
7,786
99,710
29,622
302
310,098
""4,906'
1,857,047
1,285
286,895
1,304
8,687
59, 104
67,347
1.455.396
419
58,211,619
627,774
285j7M
5,538
05,494,626
35,827
37,769
81,115
1.436.060
4,662,827
4,493.648
10.040
199,950
4,122
266,246
188 REPORT DIRECTOR OP MINT.
Quantities op the Registered Exports op Gold and Silver Coin and Bullion
prom Great Britain, 1903 to 1907.
Country to which export**!.
Gold coin and bullion (total quantities).
1903.
1004.
190 V
1906-
1907.
Russia .
Or. trof.
Oz. troy.
Ox. trty.
Oz. troy.
403.276
34.641
Oz. troy.
1,613
Saedcui .
Denmark .
51.200
ik. su
1.(02,083
64! 190
12.651
2. 2U6.H90
47.448
86.213
205.718
Germany .
Netherlands .
80.635
7t)0. 354
. 115,886
402
1,832,200
13
DoUrtum... .
France _
25,153
_26
408
130,074
1,179,150
21,620
Portugal Atoms, and Madeira .
Spain and Canaries .
2X2
5
*2 ;«»
3, 050, 01 6
10,065
Austrian territories.
555. «a
44.730
363,740
128.400
15,360
119
23. 130
272. 4d5
167,325
Roumanla.
Turkey v European ) . . . .
30 840
77,000
40,260
392,215
Turkey (Astatic) .
7
Morocco .
1,175,550
588
1 1,085,774
1.065
525,300 1,615,365
44 .
1,177,072
^ est Coast ol Africa i foreign )
6,766
2.055
2.730
63,001
160
Je^end other Dutch posseesious in the
40,584
65,738
Japan . ,
1^! 830
17,010
United States ol A merit a
Mexico .
Repul. tic or Colombia .
053,000
170,031
22
452. 436
3,571.388
4,620.483
2,816
Peru .
Chile ... .
3.S&
106,010
6.010
45.550
10.303
47.31)
30.058
551.221
683.750
541,000
85.252
60.216
Brai.il . .
51.572
7,196
Urupmv. . . .
Anentiae
468.5X5
151, 62k
UICII77
720.244
587.221
514. 475
40.723
939, 483
505.148
352.090
Other foreign countries .
5! 120
00.385
44,608
Total to foreign countries . . . .
Channel Islands
6.140.615
7.000. 165
6,635, 730
9.424.638
11,150,467
Gibraltar .
Malta . .
West Coast of Africa i British i
British possession, In South Vinca .
Aden
l. 280
41 iau
3.114
46.640
3,235
12.040
40.206
3.631
137
1.388
31,273
28, 787
3.433
16,705
40.720
24.3QJ
6,311
14,173
13,865
30,541
8.539
33.452
British East Indies . .
Straits Settlements.
644,034
906. 700
172
049 253
8.050
340
1,129,475
480
1,477.429
Ce) Ion .
511
144
03.244
Hongkong.
5.653 .
307
British \\ mi India Islands
12,690
2,564 .
. .
105,550
18,730
1,018
1,756
4,959
Total British possessions .
70,888
1.082.455
1.041.879
1,322.790
1,652,816
Grand total .
Tw^laT"
8. 091
7,677,300 |
10,747,437
12,803.283
REPORT DIRECTOR OK MINT. 189
Values of the Registered Exports of Gold and Silver Coin and Bullion
from Great Britain, 1903 to 1907.
Country to which exported.
Gold coin and bullion (total value).
1003.
1904.
1905.
1906.
1907.
Russia .
Swedm . . . .
Denmark
1073
073,300
361,118
32,319,015
912,225
483,487
12,827,048
5,353
63
*353,551
1,216,625
259.028
45, 720, 432
1,280,987
487
27,287,346
49,395
*1,703
973,300
1,714,241)
4,036,00$
680,413
7,709
00,548,487
190,888
*8,248,255
700,776
833,092
Germanv .
Netherlands ....
Belgium .
France .
Portugal. A sores, aud Madeira.
S^wln and Canaries
1,624.258
368,696
2,616.522
22,490,291
409,750
15,304,088
2,223,439
7,470
35,080,787
243
2,433,250
583,980
1,450,950
291,990
2.239
4.17,985
5,158,400
3,]<«,<tt2
876,970
7,427,262
Austrian terri tortus.
Roumonla .
Turkey (Europr) . . .
Turkey (Asiatic) .
5S&; :::::::::
Persia .
7,171,011
850,421
1,460,060
122
22,267,732
11,144
7,300,753
243,325
20,571,669
19,914
0,948.099
77V
30,886,176
22,288,789
3,042
.
1.056,031
West coast of Africa (foreign) . .
Java and other Dutch possessions in the
Indian sens .
Japan .
128,378
634,334
3,649,875
55,802
512,199
61,755
1, 2D, 939
938,991
United States of America. .
Hoodoo .
18, 606, 241
3,392,568
8,842, 431
69,048,200
89,323,687
63,632
Republic of Colombia .
409
130,909
864,534
53,531
3,523,468
19,865,053
6,434,601
888, 136
Venezuela .
(13,265
2,012,979
4,867
3,376,378
8, 808,365
2,879,751
07,330
192,227
800,682
869,389
10,440,375
12,971,490
10,268,315
1,221,915
Peru . .
Chile...
Brazil . .
Uruguay .
Argentina .
Other foreign countries .
Total to fon-ign countries. .
Channel Islands .
1,611,602 1,311,011
976,731 136,202
U, 638,318 17,790,070
11, 119,953 10,702,803
9,737,258 0,067,105
941,619 848,197
110.984,745
139,124,412
129,150,024
180,948,208 214,391,052
60,831
228,736
934,368
0* \
2,604
973
20,035,039
26,279
.V*<. 71 <
645,291
64,908
316,322
3,407
19,125,005
Gibraltar . 24,332
Malta . 77V, 127
West Coast of Alrlcat British) . 60,074
British possessions In South Africa. . 884,67V
Aden. * . . .
773,774 262,791
462,318 380,320
119,443 165,033
268,387 033,497
6.936 9,733
22,780,992 29,821.912
British East Indies . t .
Hongkong . .
12,887,767
107,003
9,733
Ceylon . .
13,140
0,700
48,606
5,840
1,766,578
Straits Settlements . . . . .
im .t* n it 77
( inad i
243,325
2,000| 131
British eat India Islands .
Other British possessions . .
Total to British possessions . .......
Grand total .
136,263
306.UA
34,499 34,005
90,517
15,131,253
21,708,244
20,880,602 26,448,722
», 145,221
135,115,998
110,832,056
150,031,436 207,396,930
247,636,373
190 REPORT DIRECTOR OP MINT.
Quantities op the Registered Exports op Gold and Silver Coin and Bul¬
lion from Great Britain, 1903 to 1907.
Silver coin and bullion (total quantities).
Country to which exported.
1903.
1904.
1905.
1906.
1 1907.
Or. troy.
1,273,082
165, 109
Or. troy.
6,946,401
97,022
Or. troy.
32,134,929
Oz. troy.
800, 153
Or. troy.
770,003
90,450
128,761
129,218
1,751
3, 174, 406
255,872
774,000
97,822
2,400
39,453
2,386,852
3,386.205
2,351,309
2,931,793
497,794
380,430
5,858,453
137,062
115,466
75,504
25,601
214,756
620
12,017,203
749,536
5,627,497
9,491.086
10,638,423
481,830
551,073
535,070
559,615
856
1,932
Italy
1,200
205,250
10,055
1,068
2,251
40,106
1,041,829
65, 151
3,052,110
616,953
896
30,584
1,262, 185
407,245
36,978
533,931
1,654,059
0,200
1 , 598, 505
1,430,186
23,963
72,336
2,332,365
2, 157
183,806
'317,000
1,137,615
709,326
4,680,742
638,725
762
1,107,040
3,001,554
412.140
673,962
1,817.209
824,385
2,400
3,372
Mexico
Colombia and Panama . .
210,879
464,184
Venezuela... .
52,679
Peru . .
134,106
322
150,007
Chile .
24,468
289,897
Brazil .
8,727
550,738
1,806,493
Uruguay . ....
2,001
3,484
Argentina . . .
1,510
1,707
4, 196
642
Other foreign countries .
i, 912, 355
023,273
20,200
1,247
Total to foreign countries .
28,584,530
24,577,000
40, 153,479
17, 265, 382
g£IMM
Channel Islands. ..
2,089
9,090
6,851
72,728
7,636
Gibraltar .
394
4.1,691
38,182
13,107
9,636
Malta .
Cyprus . .
2, 190
907,750
230,293
240
2,331
1,402. 4«2
49,454
2,502
80, 102.816
137,934
41,519
4,675,218
580
324
18,182
West Coast of Africa ( British) .
British possessions in South Africa .
Aden . .
729,235
57,604
1,947.624
91,630
2,063,883
55,267
1,407
British East Indies .
64,488,372
5,420,490
631,350
2,579,914
64,386,402
1,455
678, 103
3,927,257
44,000
78,546
14,329
36,364
30, 182
40,000
112,785,368
13,095
521,360
2,331,048
82,182
81,079,250
Straits Settlements .
7,645,012
205,462
Ceylon .
Hongkong .
1,500,014
1,818
Australasia:
West Australia .
South Australia .
12,012
59,525
30,080
11,362
254,907
215,419
4,275
67,257
17,750
7,524
138,545
Victoria .
11,068
00,910
6,182
282, 180
243,636
32,719
292 242
367,994
New South Wales .
745.444
Queensland .
99,479
New Zealand .
Canada .
114,831
32,742
11,433
16,022
5,351
82) 007
449,206
492.252
Newfoundland .
16,727
British West India Islands .
354,357
4,166
108,032
451,502
2,923
104.967
370.899
British Oulana . . .
7,920
Other British possessions .
23,157
Total to British possessions .
75,045,211
86,791,554 70,665,127
119,705,113
95,442,357
Grand total . .
103,620,767
111,300,160
119,818,606
136,970,495
118,665,961
REPORT DIRECTOR OF MINT.
191
Values of the Registered Exports or Gold and Silver Coin and Bullion
from Great Britain, 1903 to 1907.
Silver coin and bullion (total value).
Country to which exported.
1903.
1904.
1905-
1906.
1907.
I
Rossis .
$637,512
$4,012,656
$19,241,666
$537,631
$498,227
Sweden .
96.0M
1.947
54.013
1.345
60,072
92,463
1.460
87,597
26,279
Germany .
1, <*0.567
171,495
1,371.487
331.048
2,030,152
101,515
1,572,590
72, 619
1,793,101
46,481
330.275
221.966
14.653
143,075
389
7,400,603
6,0S* TIC
3,180, 190
271,833
3,374,509
6,286,287
410.466
335,305
352. S41
371,220
827
1,022
564
487
Austrian territories .
132.807
26,279
1,582
RoiEDUil .
000.063
36,490
1,500.879
380,774
21. *26
24,94o
15,792
1,557,616
iiSKi .
274.042
895,051
7.952
846,284
782,240
261,2^
936,427
49,940
West Coast of Africa ( foreign ) . . .
Ptnu .
1,110
99,763
2,7*4
28,420
Philippine Islands .
China . . -
141,120
555, 368
406,71)6
2.707.380
389.320
973
729,975
1,830,777
United States of America .
201,994
962,733
439.932
1,757
3,212
Mexico . . .
43.7%
143,528
288,535
Chile .
Until .
4,876
97,330
219
358.544
105,116
197,093
1.228.290
Uruguay .
827
2.574
44*
Other foreign countries . .
1,070,703
973
27.082
1,645
Total to foreign countries .
14.665,068
13,785,3m
29.401.607 U.458.1S4
15.4*3.938
2,433
12,166
9,173
97,330
10.220
195
45.497
51,0%
17,544
12,890
1,114
1.304
341
SS5.S83
58,963
219
2,578,797
119.6S2
12,045
\v2st Coast of Africa (British > .
British possessions in South Africa .
1.3a),409
257,993
l,798,0*vt
49,351
’ 09^834
973
Aden . .
British East Indies .
Straits Settlements .
34,044,254
2,561,438
320,034
45,984’, Hl8
63,766
24,333
36,909.968
1,947
413,677
73.308,001
8,516
310.729
1,381.877
109.983
54,201,744
5,009.360
125,06®
ilongkonc .
Australasia:
1.003,994
2,388.776
1,970,159
58,885
106,116
19. 466
2,433
185.414
492,490
South Australia .
17,033
73.971
15.573
377,640
New ctouUi Wales .
48.665
121,663
48,665
40,392
326.055
43,799
391,121
133 ! 000
15,086
8,273
Vaw '/*’ihn/l . . . .
341,142
53,531
658,428
288.068
152,351
110,844
000,930
5.708
43,818
" 473,fisi'
2,652
'*'603,762
1,942
159.520
British West India Islands .
British Guinn* . .
90,030
12,068
14.892
9.032
b, 193
Other British possessions .
4,058
4,068
141,712
26,291
Total British possessions .
41,116.854
50,781,377
41,462,697
80,349.720
06,801,374
Grand total .
55,802,822
64,546,756
70,864,304
91,807,910
*2.345,312
192
KZPOKT DIMCTOB OF MTXT.
TOT LATIN UNION — BELGIUM. FRANCE, GREECE, ITALY. AND 5TCTTZ-
ERLAXD
InouuTO* Coventrate Woimcr,j or m Mm. Cotwage Laws rrr
cttv dcktsg thb Cajlevda* Vm 1907
[r» m»
k«Mrf Rspsrr of *r DM* «f *» MM2 a
ccmuL PTirnmrr or JumAcrms.
In 1907 the workshops of the mini have bwi so-tained by the mmmhKHm of
f1*"*** Cf*aB of alver, nickel. and cr-pper. nod by the naan nurture of nickel coin*
far account of Roumania xzA Colombia.
Tbe various coinage* P^prw&t, in round figures, a total of 07,000.000 piece* with
a weight of 200.000 kilogram*. and a nominal value of 6.240.000 fear*-
In 1906 tbe coinage amounted to 50.000 000 pieces with a weigh s 1*1,000 kik>
grams and a nntninaf ralne cf 10,000.000 franc*.
Xati ov ax. Cooes Stare* k 1907.
The last nickel pieces demonetized of tbe Belgian bon tvpe have been converted
mto perforated corns of5 centuaee of the weight of 2} grains. They haw been e .red
to a nominal value of 99349 francs, with tbe weight of 4,979 kilograms, equal to that
drii^STb^rfe. J1* P*C“U*' * <*«««»«»> <* f<*» pra«u«l a
b. com* coots or 1 cxvTtm.
Fulfil
A coinage of 79,335 bancs has been made by means of tbe rwneking of 2-cenrime
Piecp*, of a value of 90,000 francs, and of pieces of 1 centime of a value of 300 franc?,
these worn coins having km an average cf L2 per cent of their weight Coose-
qoenilT, their couvewirm into new coins has earned a nominal 1* of 157964 francs
U is neceamry to add to the expense of rr melting, which wiU amocn: to 19.«3
C. SIXVEK COIN'S or 50 rtVn¥T«
J±JZ£ dca« <* *“■ adopted far the 50centiine piece* the type
o»™te«l previously by M Tb. \inroue, watuary, far the silver cane of 1 and 2
A suxn of 545.0CO franc* in divisionafy worn coins have been put into the crucible
and converted far an equal sum into 50-opntime piece* of the new type
- COU1- remelledcompnsed 256.000 francs in 50-centime piece* 306,000 francs
in 1-franc pieces; SI ,000 francs in 2-franc piece*
, ^fl°T0# "Tf*/ d“* ^ 10 73 P«r cent for tbe 50centime pieces.
6.70 for those of 1 franc, and 3.92 far those cf 2 francs
The low cf fine salver resulting from the diminution in weight and fineness cf the
worn puce* has been compensated far by the addition to the melting cf oid worn
* 42,323 The evus were charged with a low in
Fokrgv Nickel Coins.
r.J
a. bouhaxia.
3 VM (im5|^n1n1?2w,i^jrrb^0P* °* Ul* miDl bavin* executed a fim coinaee <*
&n eSS* >»«"*» new <x*na*e ot the -me npun-
Ttm ha, been rtnici 44.000.000 pieces, with a weight of 145,841 kfleoam.- n
denaaunauomoJ 5 10, and 20 bam For tbe mot pnnie metalhad betoilTp^J
by the remelun* at demonetiwd nickel PweeT^-ftTv^^^r^Sw w.tc
“ th* <* Bru"k “ “■» pr-ence if delegate c/she Itomar.^
REPORT DIRECTOR OF MINT.
103
Tho proportion of want© upon the pieees presented in delivery has been an aver¬
age of o.JM per cent.
The pieces of 5 and 10 bani are not different in their engraving from the Belgian
pieces of o and 10 centimes. That engraving had been modeled by M. A. Michaux
chief coiner of the mint coins of our mint.
Since 1872 eight coinages of silver, gold, and nickel have been made for Roumania.
B. COLOMBIA.
Two coinages, t»ch bearing G, 000.000 pieces, with a weight of 20,000 kilograms
have been successively executed in denominations of 1, 2, and 5 pesos (weights of 2
3, and 4 grams). r ’
For the first the dies were furnished by the Society of the Founderies and Rolling
Mills of the lliache-Saint-Vaast and by the French (\wipany of the Metals. For the
second, the dies, like tho coinage, have been made in the workshops of the mint
The proportion of waste upon the pieces presented in delivery lias been only 0 70
per cent. J
Monetary Circulation.
A. GOLD COINS.
The National Bank of Belgium had on December 31, 1907. a reserve of 100,708,000
francs in gold coins, besides a portfolio of foreign stocks of the value of 148,0(X)ioOO
francs, all realizable in gold. In 1907 the receipts and payments in gold have
amounted, ri-spoctively, to 7,812, 000 francs and 4,975,000 francs; at that time tho
receipts in silver amounted to 498,493,000 francs.
b. tgvn or 5 francs.
From 1832 to 1870 there boil been issued 495.078,210 francs in of 5 francs,
namely; 115.180,490 francs, struck from 1832 to 1805, with tin- effigy of Js-opold 1;
350,497,720 francs, struck from 1867 to 1876, with the effigy of I,eopold II.
The remelts made since 1880 up to date have amounted to 13,044,490 francs.
More than three quarts of 6cus with the effigy of Leopold 1 have apparently van¬
ished. The total quantities of Belgian ^us yet in existence are presumed to be Jess
than 375,000.000.
The circulation of t'^us of 5 francs was lately valued at 200.000,000; since then the
amount lias, been much reduced by reason of unfavorable exchange- upon Franco,
which is a permanent cause- of exportation. Actually, the cireulatiun does not
appear scarcely above from 100,000.000 to 150,000,000.
The National Bank, which pays in silver, is forced to the periodical reprovirioning
from Paris. They have forwarded—
38,000,000.
00,000,000
36,200,0(10.
14,200,000.
11,000,001).
1M*
1V»
1000
11)01
100U
25,000,000 . JU13
12,000,0110 . . i uni
24.000,000. . lunZ
hi, 500,000 . .. . lOOrt
•moo, ooo . ::;:ibo7
being, since ten y<-ars, a total amount of nearly 400,000.000. On December 31, 1907,
their reserve in d^us was 19,565,000 francs, and included 950,000 francs <jf Belgian
pieces retired from circulation by n^ason of wear.
The exchange upon Paris has bt-en unfavorable, ns in preceding years. Tho
premium amounted to 4 per thousand in January and varied during the greater por-
tiou of the y«*ar between 2$ and 3$. At the end of December the exchange liud
reached to par. The effect of the premium is the cxj>or!aiion of <*fUH from our circu¬
lation, und likewise of the divisionary coins, <-spooiully those of 2 fames. The move¬
ment of exportation is aitended by realizations to the foreign securities of the bank
These securities varied during tin- year 1907 between 123,000,000 and 171.000 000
On December 31, 1907, tho amount of bunk notes in circulation amounted to 798 -
121,890 fames.
The rate of discount of the National Bank vnried from 4 per cent during the first
two mouths of tho year to 4$ per cent in March and 5 from April to October- 51 in
October and November, and to G in November and December.
During the last ten years tho average rate of discount has been as follows-
Per twit.
. . 3.1)1 1004 . fii
>«W . . ■ 4. OH 1006 .
»«»••• . 3.oo 1 1007 . ; ; . . . J-JJ
04472—08 - 13
194
REPORT DIRECTOR OF MINT.
C. SILVER DIVISIONARY COIN8.
The divisionary silver coins issued since 1866 and still in circulation are distributed
as follows 10,156.932 francs in 50-centime pieces; 18,805,314 francs in 1-franc pieces;
17,837,754 francs in 2-francs pieces. Being a total of 46,800,000 francs, representing
the contingent assigned to Belgium by the monetary conventions.
The quantities really existing are very inferior to that sum. The larger portion of
the Belgian coinages have disappeared,’ or emigrated either to France or to Switzer¬
land. Our interior circulation is composed for the most part of French pieces.
The Belgian 50-centime pieces, of tne first issues of 1866, 1867, and 1868, represent
& value of nearly 4,500,000 francs. Since 1900 the National Bank has retired from cir¬
culation those which were paid into their coffers. At the end of the year 1907 the sums
received amount to only 1,473,000 francs, being less than a third of the old
coinage. The worn pieces were remelted in 1901, 1904, and 1907.
Under the influence of unfavorable exchange the scarcity of divisionary coin is
accentuated. The reserve of the bank, which amounted at the beginning of the
year to nearly 5,800,000 francs, fell in the month of November to less than 1,500,000
francs in current silver coins. They were reprovisioned by a remittance of 2,000,000
francs, made by the Bank of France. During the month of December the reserves
of the bank were increased. On January 3, 1908, they amounted to 4,821,000 francs.
In the course of the last years (1901 and 1905-06), more than 3,000,000, in French
worn pieces, the most part with the effigy of Napoleon III, have been returned to their
native country. Following the impoverishment of our circulation, the retirement of
French worn coins are being suspended, which gave room for numerous complaints.
The increase of the contingents of divisionary coins, proposed by France, in accord
with Belgium, which forms a project of convention at present under deliberation
by the States of the Monetary Union, put an end to that situation.
D. NICKEL COINS.
Since the royal decree of June 30, 1906, demonetization of the nickel pieces struck
with the type of the Belgian lion, the perforated coins of the new typo solely, have
legal currency. They represent a nominal value of nearly 10,659,000 francs, namely:
7,927,000 francs in 10-centime pieces, and 2,732,000 francs in 5-centime pieces.
The retirement of old nickel coins hud been lawfully terminated December 1, 1906-
By tolerance, the pieces continued to be accepted up to February 1. 1907, by cashiers
of the National Bank After the expiration of these delays, the special authorizations
of exchange have again been extenaed further toward tne end of the year with indi¬
viduals wno may make demand. These exchanges have carried minimum amounts
(in all about 2,000 francs).
On January’ 3, 1907, the reserves of the National Bank in nickel coins amounted to
2,614,000 francs; on January 3, 1908, they hud been reduced to 1,877,000 francs.
In consequence of the privilege given to individuals by the law of exchanging the
nickel coins against the coinB of lawful payment, the quantities existing in circula¬
tion are never superabundant. According’to ihe needs of the public, the reserves of
tho National Bank increase or diminish.
Meanwhile in the agencies of tho bank on the neighboring frontiers the exchange
of nickel coins is interdicted, the actual intention being the distributing and
maintaining in profusion the nickel coins where the foreign copper coin has a tend¬
ency to be planted by reason of the intensity of commercial relations. In spite of
the prohibitions of the law and the surveillance exercised by the administration
upon their agents, the infiltration of French bronze coins is incessantly springing
up and is difficult to combat in the frontier zones.
A nickel piece of 25 centimes is going to be created in place of the 20-centime piece,
demonetized in 1906. The change is justified bv considerations of a practical order.
The piece of 25 centimes will offer better facilities than the 20-oentime piece in
fractionary payments of the franc. Exclusively national, they can not be. like the
silver coin, disposed to be carried out of the country. Previously, in 1903, France
had added a nickel coin to the bronze coins and had adopted the denomination of
25 centimes in preference to that of 20 centimes. A first coinage will short lv be
made of the value of 1,000,000 francs.
E. COPPER COINS.
The copper pieces of2 centimes issued since 1832 represent deduction made for
remelting, a value of 4.206,455 francs. On January 3, 1908, the reserve of the National
Bank was 138,010 francs and comprised the worn pieces. During the year 1907 the
absorption by the circulation amounted to 30,000 francs.
REPORT DIRECTOR OP MINT.
105
Notwithstanding tho recoin ages effected in 189') and 1898, which wore of nearly
1,000,000 tram s, tho proportion of worn pieces in still largo enough, because tho major
portion of tho issue nau an oxistonco of inoro than thirty years. During ten years
tho National Bank effected the retirement of the pieces that were most damaged by
wear
During 1907 a (irat amount of IK), 000 francs has been melted and converted into
1 centime pieces. The average loss of weight resulting from wear amounted to 12
|mt cent Since that re melt an amount of more than 18,000 francs has again been
retired from circulation.
Tho 1 -centime copper pieces iwuod since 1882 represent a nominal value of 1,228,322
francs. On January 8, 1907, tho reserve of the National Bank was 14.120 francs;
notwithstanding a coinage of more than 79,000 francs, executed in the course of the
year, the reserve on January S{ 1908, is only 78,900 francs
During twenty yean* six* coinages of an amount of more than 850,000 francs havo
been made to accommodate the n enmities of the circulation The 1 -<“011 time pieces
are, generally, but little u*«xl Nearly all those which were old ha\c disappeared
naturally, without any necessity for remelting
The law of July 19, *1895, authorized the Government to extend to the copper coins
the principle of the power of exchange appropriated to the nickel coins The pieces
prcsentixl for exchange in 11*07 ropn'sontod an amount of 216,290 francs, in 1906
tho movomeut of cxchougos having been 238, 3S0 francs and in 1905 197,620 francs.
Nickel Coin or 25 Centimes.
A. Law of February 3, 1908, creating a nickel coin of 25 centime* to replace tho
nickel coin of 20 centiiuos. (Ix» Moniteur Beige, February 7, 1908.)
Leopold 11, etc .
Sole article. In the articles 2, 3, and 5, of the law of December 20, 1860, the words
“Vingt centimes ” (20 centimes) are replaced by the words " \ tngt-cinq centimes”
(25 centimes).
Published, etc.
B. Statement of the motives of the law presented December 4, 1907, to the Chamber
of Represent uti\ os.
The law of December 20, 1860, created the nickel coins of 5, 10. and 20 centimes
The t> pc of tho die for 20 centimes adopted by virtue of thai law has been demonetised
by rovul decree of June 30, 1906, and has not been replaced up to date.
The d<*igu of the law, in conformity with til© order* of the King, I have the honor
to submit to your deliberations for the purjH»e of substituting for tho die for 20 cen¬
time* a die of the nominal value of 25 eentimos.
The change is justified by considerations of a practical order The 25-centime
piece offer* better facilities than the 20-CCiitini* piece for frart ionarv j*av ments of the
franc. They interpolate between the die for the nickel 10 centimes and the die for
tlic silver 50 centime*, and till, in part, the office of the last piece by being a multiple
of the first. .
The Government adopted the perforated type for tho 26-eenlim© piece, like the 5
and 10 centime nickel pieces The confusion which has boon produced in the post,
wpccially with the 20-centime piece and the divisionary silver coins will thou be
t\ Report made upon the design of the law. in the uame of the Commission of
Representatives, by M. Tihbaut (Session of December 18. 1907 )
The Government promise* to substitute a nickel piece of the nominal valuo of 25
•fondl'd tvpe, for the 20-oentituo p - r *w‘ ,1“
centimes of the perfc
> piece of tin* lion type, demone-
tinxi by royal decree of Jiuio 30, 1906. .. . . .
This Is a nioditu'ation of the monetary law of December 20, 1860, which created the
three type* for 5, 10. and 20 centimes. ,, . ,
The 25-cen time piece* are, like all the pieces of 5 aud 10 centimes, an odd coin, of
which the faculty u» regulated by that law.
By the terms of article 7: “No one is obliged to receive in payment more than 5
francs in nickol coin.” , , .
By the terms of article 8 * ‘ The nil kel coins shall be exchanged against the coins of
lawful }>aynicnt in sums the minimum of which shall be fixed by the Government
and in the utficee which it designates,”
"The public may be pormittixl to exchange, in the offices and noon the terms de¬
cided by tho Govommont. the coins of lawful payment against the »dd coins
\ arious myal decree* have regulated the exchange which operates in the office* of
cashier of the Stale (National Bank)
I) Report made upon the design of the law, in the namo of the communion of tho
senate, by M. V. Allard, (Session of January 21, 1908.)
196
REPORT DIRECTOR OF MINT.
The law of December 20. 1SG0, which created the new nickel money modified ad van
Ugrously our monetary circulation in Belgium. That law created three different
t>pes of pieces. 5. 10, and 20 centimes; since their issue certain change* have been
brought about. On the one hand, the primitive pieces which were confounded with
our divisionary coins have been recoined and a new perforated type has been issued
roD WttTu^to dat’ ^centJme P*000 baa been demonetized, and it has not been
Vhe design of the law which we here submit has for its object the substitution of the
25-centime piece, adopting, as for its subdivisions, the perforated type,
r Jlbat “T11? *?11 ?avo Ulc *dvant*P? of responding better to the fractions of the
franc, particularly to the piece of 50 centimes. They will alleviate our circulation ..f
divisionary coins, whose insufficiency has been alreadv acknowledged. I believe I
can add, beside*, that the new 2o-oentime piece, by its size, will often be preferred to
thedivisionary coin of 50 centimes for the payment of salaries.
anThf .which be given to the new coinage will determine its importance,
S?500f' 000 fSi«in8, ^ GoVerument mtendB to make a first issue of a nominal amount
Which’ womJH“bm“ur,li,nOUri>' *B"*d *° ProlX~ thC ad°Ption of the ***»
tiili K,&°^f’ticir1^iurSS1^n,! tyP* °f *he *Uver of 50 ceu-
Leopold II, etc.
See article 2 of the monetary law of December 30 1885
Review our decree of July 5, 1901.
^°RLf?r ,thc “Hf «>““ of 50 centimes the type determined by our
decree of June 11, 1904, for the silver coins of 2 and 1 franc. ^ Y
and °f OUr “inifltcr of financ<» public works, we have resolved
•VwT #1 ■ - 1'”111*1, uer neigen c Leopold II, King of the Belgians”)-
»nd on thru- n-venw the mdioatiou of thoit value anil the dite «k2cM by rnncMh
fluted rim*. * bnU1Ch * ^ *nd * bnulch of »• «*«■ £5te «£* S,
apurovid. Th° typ* of 010 50-centirae piece, annexed to the present decree, is
kifca "of b fiXPd' «■**«. •* 3-25 frau™ per
the rtamDiiT'of'M^'o/j^r'!/*^" ol lb° coinw- of verification of the weight* and
coin^ P K * h P °f 50 centlmw- ^e to be charged to the director of the
111. Resolution ol the minister of finances of Julv 25 ion** Mmi|ai:n„ ,l ,
fVP^SR of l Stime: ' "*"'*"•« ^ ^
agree i na to 'reeu lato^ano * S^T^® ruiniKtorial elution of January 14, 1S95,
the °f — °Iocutt,on of lbe <*'**«* of 1-centime pieces.
cj»on ine proposition of the commissioner of coins-
Resolution:
in^rJL I£d ac^Sd^f^ *7°“' subjected to the regular teat of the eoin-
4Ir 5 i° *"b'“
ftuwT jUftsTfK >oi,3%70^M2Sn^l8M!
of March 30 1SS0 and julv 1* lSu^l^S*13’ l90< ’ ?*v,ow the ministerial resolutions
contrcller of'ekch^nVandc&S^ th° 0081 of tho verification of coins to the
nickei coins hu°f lu wf uf payment ^which* arn ’ S'*’ ^n(1 divisionary silver, and
be attributed to the Stated ’ b 910 chai^od 10 tbe director of coinage, shall
REPORT DIRECTOR OF MINT. 197
Art. III. The commissioner of coins shall place at the disposal of the controller
the number of workings necessary to effect the verification of the coins.
The salaries of the workmen shall be paid by the controller and approved by the
commissioner of coins upon the state’s arrangement.
Art. IV. An indemnity shall be accorded to the controller for extra labor occa¬
sioned by the verification of the coins.
Art. V . The expenses resulting from the verification of the coins shall be imputed
to the funds of the monetary provision. This is beneficial, by way of compensation,
to the suppression of the costs of verification where they are conferred upon the state.
The reserve of tho National Bank of Belgium comprised :
Francs.
Classification.
December
ai. looft.
December
31, 1907.
Oold coins . .
103.s71.lfO 00
10ft, 707.910. 00
Silver Mranc pieces . . .
10.H*Vft7S00
19. HO. 495 00
Odd coins ana copper coins . .
0. 717.292. fO
0.9K8.395 80
Comparative total of the metallic reserve .
1X4,185, 127.00
133. 261, 800. 80
Bank notes in circulation in Belgium: The amount of notes in circulation on De¬
cember 31, 1907, were 798,167,7G0 francs, and on December 31, 1906, they were
770,423,340 francs.
FRANCE.
Antuera to inUrroqatorira, 1907.
(1) Amount of gold coined during calendar year 1907 :
A. French Gold Coins.
DenomlnaUon.
Number.
Value.
100-franc plerai . . . .
20,000
17,715,935
3.3U3.875
Franc*
2.000,000
354.31H.700
33.638,750
20-franc pieces . . .
10-frnuc pieces. . .
Tout . .
2l.0W.M0
389,957.450
Coined from bullion and from recoinage of domestic coins'
Bullion . . . . . .
Francs.
389.033.635
323.815
389,957,450
Reoolnoge . . . .
Total . - - .
B. Colonial Coins.
Denomination.
Numlxr.
Value.
20-fnuic p lev tv* .......... . - .
20
86
Franc*
530
800
1(M rune plwtft ... ...... . . . ...........
Total..- . . .
112
1,380
19S
REPORT DIRECTOR OF MXST.
i ml mm
dsrtag rmVmin year tSCC :
l Fuses Sara Cots*.
" *
t
from ike leeutaage J-
i.J
. 14C«
put of vfeirfc ’■ere cmbf
<*1315.000 bi^, i
B. Coumu Couu
<*) to-, ^nidwdii mdv
alMRkayiu.i^wy
MO jf ctmtJ m Lxotf) la
ibemrlW
but be «
5 kmomnx of
kil «riat. *i
JiuO a&d QJSQO W>7
dunae <
Of raid ofejectB euaped ai eke an;
L
am dviar i
1 auciaadcx
of cuetxU 142.000
BEPOBT DIBECTOR OF MINT.
199
/g^ Tho French customs do not clans by countries gold coin imported into the coun¬
try. It ifl therefore impossible U> give the number of American gold coma that entered
I(9)C No American gold coin was melted down at the mints during the year 1907.
(10) Gold produced from mines of the country during 1907 : The eviduaUou for the
vear 1907 are not vet to hand . For the year 1906, from statistics furnished by the min-
wter of public works, the products of the French mines would be 75G kilograms; value,
2.604,000 francs (at 3,444 francs per kilogram).
(11) Silver produced from mines of llio country during 1907: Output for the year
1907 not yet known; for the year 1906 it was 23,378 kilograms; value, 2,685,000 franca
(at 120 francs per kilogram).
(12) Output of gold from refineries of the country during 1907: Output for tho year
1907 not yet known; for the year 1906 it was 14 kilograms; value, 48,000 francs (at 3.444
francs per kilogram). From colonies Guiana. 2,797 kilograms; value, 9,636 000
francs (at 3,444 44 francs); Madagascar. 2,000 kilograms; value, 6.002.000 frcnes (at
3,444.44 francs); Indo-China, forty-four kilograms; value, 149,000 francs (at 3,386
francs).
200
REPOBT DIRECTOR OF MINT.
(13?J?-utput of,ffllver it fineries of the country during 1907: Output for the
vear 1907 not yet known; for the year 1906 it was .50,058 kilograms, valued at 6 007 000
^120 fr^)frMICB ' Pr°m Coloni0fl: A1»eria* 41 kilograms; value, 10,900 fnim*
I- mm statistics furnished by the minister of public works the above 50,058 kilograms
of silver were produced from 18,127,000 kilograms of galenas, of French or AlSriSJ
origin, and 64 ,fe,000 kilograms of galenas, etc., of foreign origin *
(14) The stock of gold in France at the end of the year 1907 is still estimated to be-
Pieecs of 20 fnuu*...,.. . * ^
Piter* oflO francs, . * . . 4,000,000,000
Other pieces . 060,000,000
. . 160,000,000
Total -
. 4,800,000,000
(15) The stock of silver at the end of 1907 was estimated to be—
Mronc ptrocs. Franc*.
Fractional coin*. . — 1,800,000,000
. 330,000,000
Total - -
. 2,130,000.000
(16 and 18) There are no government notes in France.
19 w fHaU.k °- ^p?nce. a\one the right to issue notes. On January 31,
192!’ the aniount of notes in circulation was 4,949,549,555 francs. - '
The amount of com held by the Bank of France on January 31, 1908 being—
Gold . Fran«
8u ver . . . . om, 448,374
. 208,944,002
Total... . . . .
.mT,m,,r^f3ti°.'!5?,n90ttoSine notTw^uW
Saros,* saa* ^ &£*£££$&£
[Translation]
Decree R*laijvb to the Manufacture and Cibculatino Power of the Ovb
One-hundredth of a Piaster Piece for Indo -China
'IT- <* *•
Metal.
Denomination.
Diameter.
Composition.
Tolerance
In Oneness
above and
below.
Legal
weight.
Tolerance
1 In weight
! above and
below
Bronte. .
Ha plaster .
2ft millimeters.
Thousandth*.
ICopiw
iJ'n . 4
IZlnc . 1
Thousandth*
Copper. . . H)
Gramm**
Thousandth*.
Tin . .fi
Zinc . 5
f ‘1
10
unido \ «hall be l4." Spf^ gj
acturcd under the conditions <>f
m a single payment
REPORT DIRECTOR OF MINT.
201
Article 2. The minister of finance and the minister of the colonies are each, in so far
as he is concerned, charged with the execution of the present decree, which shall be
published in the Journal Officiel, the Bulletin des Lois, and the Bulletin des Colonies.
Done at Paris, June 8, 1907.
(Signed) A. Falu^he,
By the Minuter oj the Republic.
The Minister of Finance,
(Signed) J. Caiilaux.
The Minister of the Colonies,
(Signed) Moufes Lacroix.
GREECE.
Legation of tiie United Stages of America,
Athene, February 14, 1908.
Ansxcers to interrogatories, 1907.
(1, 2, and 3) Amount of gold and silver coined and coinage executed for other gov¬
ernments during calendar year 1907: None.
(4 and 5) Amount of gold and silver used in industrial arts during 1907: Not known.
(6 and 7) Import and export of gold and silver during calendar year 1907: Impos¬
sible to ascertain. , , ,
(8 and 9) Amount of United States gold coin imported and amount of same depos¬
ited at mint and melted during 1907: Not known. .
(10) Gold produced from mines of the country and colonies of the country during
1907: None. , , . . .
(11) Silver produced from mines of the country' and colonies of the country during
1907: Unknown. . . , . . ,
(12 and 13) Output of gold and silver from refineries of the country during 190<:
^ (14)° Approximate stock of gold, coin and bullion, in the country' at the close of the
calendar year 1907: $600,000. ..... . , ...
(15) Approximate stock of silver, com and bullion, in the country at the close of the
calendar year 1907: Approximately, $500,000. ....
(16 and 18) Government notes outstanding at the end of the vear 190/ : <8,000,000
drachmas. None covered by legal tender gold or silver com or bullion
(17 and 19) Bank notes outstanding at the end of the year 190/ : 127,000,000 drach¬
mas None covered by* legal tender gold or silver coin or bullion.
(20) Actual currencv of the country: Inconvertible paper.
(21) Gold is at a premium. During 1907 the highest premium was drachmas 1.14*
oqual to 1 franc gold; the lowest premium was drachmas 1-06* equal to 1 franc gold;
the average premium was drachmas 1 .10 eoual to 1 franc gold. (1H drachmas w worth
l franc gold; 6.95 drachmas are worth 1 dollar ) . . ... . .
(22 and 23) Laws pawed during 1907 affecting the currency and report published
on operations of the mint during 1907: None.
ITALY
[Translation.]
A nsirers to interrogatories, 1907.
(1) In the year 1907 no gold coins were struck. During the year they melted only
worn and mutilated coins retired from circulation, namely: ^
4041m Pisces from Russian 19-rouble coins . . 11 ■ °£
40-Uro pieces from French coins . . . ™
_ . , . . 11,130
(2 and 3) In the royal mint at Rome there were recoined 8,471,824 lire into national
coins of 1 lire and 2.490,900 into pieces of 2 lire. The firet i»ue was a partial recoin-
„nrn of the same denomination retired from circulation by virtue of the
royal decree of March 17. 1907, 2,700,000 lire, and 5,300,000 lire for effect of the royal
rirvrrcc of October 17 of the same year.
Two- lire pieces to the amount of 2,490,000 lire were issued, of which 2,300,000 pro¬
ceeded from the rocoinage authorized by the above-mentioned royal decree of March
17 1907, and the remaining 190,900 lire were on account of the recoinage authorized
by the other aforementioned royal decree of October 17.
202
BEPOBT DIBECTOB OF MINT.
In the same year there were retired from (fire illation silver money of national coin,
as follows:
Lire.
Wire piece* . *,«2.
Wire pieces . 2.
1-iire pieces . 4,
G50-llre pieces . 39.
Total . 9,088,960
(4 and 5) The use of precious metals in the arts and manufactures being entirely
free by virtue of the law of May 2, 1872, there is no means for answering these ques¬
tions.
(6 and 7) For answering these questions there is a summary herewith of statistical
data relative to the commerce of importation and exportation of precious metals in
1907, arranged according to countries of derivation and destination:
Imports and Exports of Gold and Silver during 1907, by Countries.
Countries of origin and destination.
Crude gold In bars, dust, and scraps.
Importation.
Exportation.
Quantity.
Value.
QuanUty. Value.
h’Uo^nms.
15
1, 068
2,«5
19
244
6
Lin.
39,000
4,323,800
6,487,000
49.400
634.400
2,000
15,000
KUofram* Lin.
70 182,000
250 650,000
482 1,253,200
Total . .
4,443
11,551,800 802 2,085,200
Countries of origin and destination.
Gold coin.
Importation.
Exportation.
QuanUty.
Value.
QuanUty.
Value.
Austria- IT unwary .
KUopramr
129
34.883
6,002
960
8
456
2
9
10
Lift.
399,900
108. 137.300
18.792,200
2,976,000
24,800
1,413.000
6,200
27,900
31,000
KUofnmt
651
3S
281
Lire.
1, 708, 100
107.800
871.100
France . .
Germany .
Great Britain . .
Malta . .
Switzerland . . . . .
273
846,300
European Turkey . .
Central American States . . .
Argentina . . . .
Total .
42,519
131,806,900 1,143
3,533,300
Countries of origin and destination.
Crude silver.
ImportaUon.
ExportaUon.
QuanUty.
Value.
QuanUty.
Value.
Austria-Hungary . . . .
Xilofnau.
Lire.
Kilogmmt
960
11.069
Lire.
107,800
1,219,790
456 610
Franoo .
21,147
682
2,114.700
68,300
Germany . . .
Groat Britain .
Switzerland ... . .
Total . .
L944
213,840
21.829 2,182,900
18,164
1,996.040
REPORT DIRECTOR OF MINT. 203
Import* and Exports or Gold and Silver during 1907, by Countries — Con.
Countries of origin and destination.
Austria-Hungary . .
Franco. .
Germany .
Gibraltar .
Spain . .
Switzerland .
Argentina .
Silver coin of tho Latin Union.
Importation.
Kilograms.
Value. Quantity Value
Lire. Kilogram t
21,600 109
24, 623,31)0 152
104.NU0 I 84
3,300 . .
1,000 .
116,300 867
12,800 1 .
24, 7 SI, 800 | 012
Lire.
21,800
30,400
10,800
Non.— The calculation of the value o( the kilograms is hosed on the official statistical valuation Used
by the central commission for 1907.
(8 and 9) There wan no direct exchange of the precious metals in 1907 between
the United Staten and Italy, and no United States gold coin was deposited at the royal
mint in Rome, the only mint in Italy.
(10) Amount of gold produced from mines of the country during 1907 : GO kilograms,
valued at 205,000 lire.
(11) Amount of silver produced from mines of the country during 1907: 22,950
kilograms, valued at 2,547,002 lire.
J12) Output of gold from refineries of tho country during 1907 . 50,625 kilograms,
lued at 174,000 Tire.
(13) Output of silver from refineries of the country' during 1907 : 20,412 kilograms,
valued at 2,270,341 lire.
(14) On December 31 the stock of gold in the national treasury’ was as follows:
Lira.
Id coin . *1.001, «•
Colnhi the Bank of lUlyto the credit of the naUonal treasury, but the property of the State.
309,747
91,982. 310
Total . . . . . . . . . . . 303,313,0X3
(15) On December 31, the stock of silver belonging to the treasury amounted to
71,862,419 lire, namely
In scudi . .
Lire
_ _ . . 1.680.210
In Italian fractional coins, coins of the LaUn Union, and Marta Thorosa thalers . 6,00t>,««
In ban. . 792,780
In the Dank of Italy to the credit of the treasury and belonging to the State: _
Scudi . . . . 58,940,335
Fractional coin. . . - . . t M3. 088
Funds not apporUoned, other than lire . . . 2.899, SI 4
Total..
. . 71.862,419
(10 and 18) Amount of government notes in circulation on December 31. 1907.
437 518,410 lire, ol which for account of the State, see law of July 22. 1894. first part of article 2. _
and Aunut I 1895, arllcie 20 400,000.000
For account of the llank of Naples (artteto 3 of the royal dorrea of 1997. Vo. 77). ■ 26,027,700
K of the Stale, In X-t of article 3 of the law of March 3. 1898 1 1 . 280. 0CW
For account of the State, according to the law of July 1,1905 . 240.6M)
Derail*' tho circulation credited to the Rank of Naples ts entirely covered by gold coin for . . . 26, 087, 700
T he circulation for amount of the State according to the law of March 3. 18*. and completely
covered by cold coin, namely ... . 11,250.000
Tho nrlnrioal circulation for account of the State, 4UU.OOO ODD lire. Is covered by one-fifth of the
lounl In gold coin, namely . . 80,000.000
In cold coin .
A gal cut the whole amount of the clrrulaUon
204
REPOBT DIRECTOR OF MINT.
(17 and 19) The circulation of bank notes an December 31, 1907, 1,851,541,950 lire,
of which, for account of—
The Baak of Italy. .
The Bank at Naptes.
TbBBazxkrfSicLv
. 1.411.38: ODD
. XC.XiXD
7J.os.La
T** . - . - . 1. SSI. sc 9a
Uncovered bank notes in circulation, 510,892, LS7 .56 lire, divided as follow?
Lira
Bank of Italy. .
Bank of Napaea . .
Bank at SieuyT. .
Total .
. Wl. M3. £
. lU.tET'Xr: c
The 40 per rent of the metallic reserve which is to be paid at eight is divided as
follows
Bank of Italv
Bask of Naian
d skfiyT...
Total..
Lira
. l,0tt,*i4,MQ.<*
2tt.36l.*Ci3
47, T
l,MO,Ma?B2.44
51&W2.1SC36
i.asLSti.sec.®
The proportional percentage between that portion of the reserve which is free of
the 40 per cent to be paid at eight and the total circulation at eacb institution result!1
as follows
Lin
Baak of Naples . . .
Batkotaefiy".. . . . . ' "i r ^
f30 and 21 » Premium on gold : The price of the precious metals not being quoted ,
nor the ex< hange fur the Kingdom atfit tally listed, we have recourse to the exchange
upon Fiance as the standard premium on gold as the best approximation During
the year such exchange was an the avenge of 99 9S lire per cent of the franc, with x
maximum of 100 lire per cent and a minimum of 99.60 lire per cent.
(22 and 23) No change* were introduced in 1907 in the laws regulating the monetary
system of Italy . Herewith annexed is a copy of the law of December 29, 1S97. whkh
prolonged to December 31, 1906. the legal course of bank notes and of facilitating
officially the liquidation of the immobilizations of the institute* of iseue.
No separate report is published by the royal mint . Particulars regarding the opera¬
tions in the striking of coins and medals and other mechanical work are given in the
annual report of the treasury’
Royal decree of March 17, 1907, No. 138, authorizing the coinage of fractional solver
coin against the demonetization of 5.000,000 lire in scudi.and establishing the new
division of the fractional coin (Published in the Gazzetta Ufficiale del Regno
April 13, 1907, No. 8S.)
Vittorio Emanuele III, by the grace of God and the will of the nation. King of Italy
With regard to the monetary convention agreed to by Italy with France. Belgium.
Switzerland, and Greece, approved by law December 30, 18n5. No 3590 i third senes .
by which the contingent of 202.400.000 lire in fractional silver coin was assigned to
Italy; ^
JJ- ith regard to the supplementary monetary convention signed at Paris October 29
1897 approved by law January 2, 1898 No. 1, that increased the contingent of frac¬
tional com which Italy was empowered to issue bv 30,000,000 lire, with the privilege
of providing for the issue of 3,000.000 lire of the larger contingent bv the use of alver
bare, and with the obligation to employ for the preparation of the remaining 27.000,000
lire, silver scudi of national coinage, exclusively;
With regard to royal decree of 'September 4. 1S98, No. 415, in which bv virtue of
Ha tfnrMifl r»nu rori vKa o nnn nM « _ _ .
*^5^. 10* ^90- **<*• 7050; January 25, LS91* XcT 61, and°l>ecembeV 1»!
1895. No, 69/ ;
<* October 8. 1906. No. 557, bv which the coinage ef
inS^fPiIS^cm^fhOTr0d thlDU6b ** "****<** companding
REPORT DIRECTOR OF MINT. 205
Recognizing that it in Opportune to provide tor a last issue of fra/ 1 tonal silver with
whi< li to n und tho demands of tho circulation;
Upon the suggestion of our secretary of state for the intumry, with tho concurrence
at tho minister of agri« ullure, manufactures, and commerce, and with tho consent of
tii*« coaocil of ministers
Wo ha vo decreed and do docroc;
Amth i a J Tho royal mint is authorized to provide for tho ruinate of now silver
plwia to a nominal value of ft, (MX), (XX) lire through the reuniting of silver acudi of
5 lire, of national coinage, aa determin/Mi hy article 2 of the supplementary monetary
convention of Octoiier 29, 1H97, approver! by law January 2. 1898, No. I
Art. 2. Tho coinage which haa been authorized by article 1 shall be made to a
nominal amount of 2, 300, (MX) lire in 2*liro pieces, and to a nominal amount of 2,700,CXX)
lira in 1-1 ire pieces.
Ain'. 3. The contingent of fractional silver coin unsigned to Ituly by the conventions
of November (1, 1886, and October 29, IK97, is established by denominations as follows:
Lira.
Mtm pirns . . . . . . . . *«.7W,000
Mils ptanr* ... 1 U, 700, 000
0 tt) llro |>Uv4* . 10,00, i HO
Total .... . . . 23U. 400. m
We ordain that the present d<**ree, furnished with the seal of the State, shall be
inserted in the ofticial records of tho laws and decrees of the Kingdom of Italy and
•ent to all whom it may concern so that they may observe it and cause it to be observed.
Dated at Rome this day, March 17, 1907.
* (Signed) Vittorio FImanuxlk.
Giolitti
Majokana.
CoccoObtu.
Royal decree of October 17, 1907, No. 703, authorizing the royal mint to provide
for the coinage of new silver pieces to a nominal value of 5, (XX), (XX) lire through tho
demonetization of scudi and to recoin another 5.000,000 lire from ftO-ceutoasimi
pioci<a into I and 2 lire pieces. (Published in the Gazzetla UfUcialo del Regno,
November 0, 1907, No. 20ft.)
Vittorio Kinunucle 111, by the grace of God and the will of the nation, King of Italy.
Recognizing that it Is opportune to provide for a lust Issue of fractional silver coin
with which to meet the needs of tho circulation and cver-increoeing demand for coin
of that description:
With regard to the monetary convention agree/1 to by Italy with I* ranee, llelgium,
Hwit/.i rlund, and <1 niece, approved by law December 30, 1885, No 3590 (third senes),
by which a contingent ol 202,400,000 lire in fractional silvor coin was assigned to
Vlth regard to royal decree of January 2, 1HH7, No. 4269 (third series), concerning tho
division oitlie 202,400,000 lire of fractional silver coin; _ .
With regard t/» the aupplementary monetary convention signed at Paris. October
29, |H97, approved by law Jamiury 2, 1808, No. I, that incruaaod the contingent of
fractional silver coin which Italy was enipower/*d t*» issue by 30,000,000 lire, with tho
privilege of providing for the issue of 3,000,000 lire of the larger contingent by the
usi* of silver liars, with tli«- obligation to employ in the preparation of tho remaining
27,<XXMXH) lire silver scudi of national coinage exclusively; .... -
With regard t«» the decree of September -1, 1H98, No 415, m which, by virtue of
the ufonsuid privilege, the coinage of 3, 000, (XX) lire was authorized according to
article 2 of the supplementary monetary convention of October 20, 1897, through
the reniolting of Krftroau silver pieces already in existence, by virtue of royal decrees
of A ii|Mi-l It), 1890, N«*i. 7049 and 7060; January 25, 1891, No. 81; and December 19,
^^wiihrogarti to our decreo of November 30. llXlft. No. 67ft, concerning tho recoining
of 5 (XX) (XX) lire of 50-ceiilessimi pieces into 1 ami 2 lire pieces, recotnago tliut umy
be of oontinui*d advantage to the circulation of on additional ft.(XX).000 Lie;
With rcgartl to tin* two other decrees of October 8. llXXi, No 667, and March 17,
1907 No. 138, by which the resjiective coinage of 1().(XX),00() and 6,000,000 piecos has
ls>eii authorized, through the reun iting of a corr/wj lending anumnl *if nulioriol scudi,
ami at the aamo time arranging for their division into denominations,
Lfpoii (h«* suggestion of *mr aocTolory of state for the treasury, wilh the concumaoe
of the miiihrter of agrieulturc, manufactures, and commerce, and wilh the consent of
the council of miniaUira:
206
REPORT DIRECTOR OF MINT.
We have decreed and do decree:
Article 1. The royal mint, by the term* of article 2 of the supplementary monetary
convention of October 29, 1897, approved by law January 2, 1898, No. 1, authorizing
provision for the coinage of new fractional silver coin to a nominal value of 5,000,000
lire, through the remelting of the same amount of silver scudi of 5 lire, of national
coinage.
Article 2. The royal mint is equally authorized to recoin to a nominal amount of
5,000,000 lire the fractional silver coins of 0.50 ($) lire into proportional piee<*s of 1
and 2 lire, or more explicitly, 2,400,000 lire in 2-lire pieces and 2.000.000 lire in 1-lire
pieces.
Article 3. For effecting the aforesaid operation the contingent of the fractional
silver coin assigned to Italy by the conventions of November C, 1885, and October
29, 1897, remained established by denominations os follows:
Llrr.
Wlroplsras... . lot, 400.QOO
1-lftm pleww . lto.ono.ooo
0 50-ltra plena. . 5, 000. 000
Total . 225, 100. 000
We ordain that the present decree shall be furnished with the seal of the State and
inserted in the official records of the laws and decrees of the Kingdom of Italy and
sent to all whom it may concern, so t hat they may observe it and cause it to be observed.
Given at Rome, this day, October 17, 1907.
(Signed) Vittorio Emanuele.
Gioutti.
Cabcano.
Cocco-Oetu.
The keeper of the seals: Orlando.
Law of December 29, 1907, No. 799, extending the period during which bank notes
shall be legal tender and also the time to enable the institutions of issue to realize
on their fixed assets, to December 31. 1908. (Published in the Gazsctta rfficiale
del Regno, December 31, 1907, No. 303.)
Vittorio Emanuele III, by the grace of God, and the will of the nation, King of Italy.
The 8enato and ('lumber of Deputies having approved, we have sanctioned and
we promulgate the following:
Article 1. The period during which the notes of the Bank of Italy, of the Bank of
Naples, and of the Bank of Sicily wen* made legal tender by article 10 of the law
regarding institutions of issue, approved by royal decree of October 9, 1900, No. 373,
is extended entirely to December 31, 1908
Article 2. For the purpose of realizing on the fixed assets of the banks of issue, as
provided by articles 13 of the law of August 10. 1893, No. 449, and 30 of the law of
August 8, 1895, No. 486, the privilege granted by the laws of August 8, 1896, and of
July 2, 1890, No. 265, so far as they have not been changed by articles 59 and 60 of
the general law regarding banks of issue, is extended from January 1 up to December
31. 1908.
YVc ordain that the present decn*e shall be furnished with the seal of the State and
inserted in the official reconls of the laws and decrees of the Kingdom of Italy and
sent to all whom it may concern , so t lul they may observe it and cause it to be observed
(Signed) Vittorio Emanvelk.
Cabcano.
Lacava.
Given at Rome, this day, December 29, 1907.
The keeper of the seals: Orlando.
SWITZERLAND.
Answer s to interrogatories, 1907.
(1) Gold coined, 20-franc pieces, 150,000; value, 3,000,000 francs. No recoinage
of gold pieces.
(2) Silver coined;
Denomination.
2-trwnc .
l-franc .
MVcantlmc .
300,000 000.000
800.000 wu.000
1,300,000 OUf.dOO
2.300,000 3,000,000
REPORT DIRECTOR OF MINT.
207
The federal mint at Beme, which has executed the above coinage, has recoined, in
1907 277,000 5-franr pieces of the old type (Helvetia, seated) into 5-franc pieces of th
new tvpe, 1,385,000 francs No minting was done for us in another c^ntry.
(3) We federal mint did not execute in 1907 any coinage for a foretgn
(4) The weight of fine gold used for industrial purposes amounted to about 11,000
kilograms. F?r lack of informal ion it is impossible to specify here the exact q uantity
of newgold, old gold, and of gold coins used for mdust^ pur^. Yet it
possible that a considerable quantitv of new gold coins of full
(5) As regards the fine silver used in 1907 for industrial purposes, its toUl weight w
ckiuwdwhc .bout 69,000 kilogrum.. Iu view of the low value dnlvcrlt « to bo
presumed that silver in bullion (no coins) was melted for industrial purposes.
(6 and 7) Imports and exports of gold and silver during 190/
Imports.
Exports.
Classification and oountry
Weight.
Value.
Weight.
Value.
OOLD.
Gold bullion
Kiloframi
3,576
Franc*.
12,347,93*
Kilogram*
2,366
Franc*.
8,100,250
France .
IHr . . .
i
5,001
270
3
19. 340/253
953,028
10,359
12,700,134
529
<•>
1,821,561
1,122
2,673
European Turkey .
16
1
886
3’, 453
3,093,886
Total
13,046
48,507,744
2,895
9.9KMB3
Gold coin:
Germany . . .
France .
Italy .
Belgium .
notion d.
Bulgaria..
420
200
0,003
97
“> .
4
13
1,316,432
622,875
18,794,220
307,170
1.330
2,500
9.710
41,145
1,742
201
5.209
1,029
.
33
2
524
5,400.810
624,322
16,334,581
3,189.420
on
19,556
100.500
4,600
1,024,524
Great Britain - -
'“'(«) .
. sls
2
4,630
European Turkey .
C) 1
3,347
United States .
1,000
6,804
21,090,197
8,800
27,307.950
Gold plate:
25
73,450
190
474,647
1 0N9.356
Germany . .
France.
Italy..
Belgium
Great Britain . • • •
35
115,825
296
« 4
(•)
’729,223
093
14,863
2SQ
Spain. .
South Africa -
3
7,050
(•)
832
United States.
63
193,825
925
2.309.J6S
Total .
Gold thread:
Germany
100
5
222,867
19,020
France.
103
242,187
Total .
Gold thread, tissue, and gold leaves
45
136.579
Germany .
Austria. . . . . .
(-) 12
1,200
42,026
France.
3
4,490
United SUU«
60
i 164,295
i Wei glil ot loss than one-half kilogram.
208
BEPOBT DIBECTOB OF MINT.
Classification and country.
Imports.
Exports.
Weight.
Value.
Weight. Value.
HLVEE.
Silver bullion:
Kilograms.
40.3U0
4,039
48,460
13,073
5
5,114
Francs.
4,513,600
452,368
5,427,520
1,464,176
560
572,768
Kilograms
22,474
Francs.
2,476,715
4,143
456,706
Italy .
2
254
Total . . .
110,991
12,430,992
26,619
2,933,675
Silver coin:
5,040
2,844
129,478
885
1,006,027
568,860
25,885,618
in, 101
5,385
309
34,030
3,882
17
47
1,076,996
61,871
6,8(1'. ,911
776,363
3.383
9.384
Italy .
Holland .
Total .
138,247
27,649,606
43,670
8,733,908
Silver plate:
Germany .
Austria . .
460
7
518
l
1
66,285
2,650
61,744
300
270
387
41,224
France. . . . .
9
371
1,398
36,085
Italy
Holland.. .
Spain . .
2
5
152
540
Greece .
Great Britain . .
287
25,089
500
United States . .
Total .
1,275
157,438
774
79,399
Silver thread
Germany . .
235
29,956
• 7
• 5
«211
o 6
o 1
1,161
550
527,617
1,168
185
Austria . . . . .
France .
120
14,335
Italy _ .
Northern South America. . .
Total . .
44,291
«230
530.681
Silver thread, tissue, and silver leaves:
Germany .
48
8,648
• 3
o3
ol0
1,257
658
3,678
Austria... .
France. . .
84
12
2
10,160
2,600
162
Italy .
Great Britain .
United Stales . .
o 1
917
Total .
146
21,570
1-
n .110
“The Information concern inf? the exportation of these articles riven in the commercial statistics includes
gold and stiver.
In addition to the above the commercial statistics mention scraps, ashes, and clinker
of precious metals, without any distinction of metal:
Country.
Imports.
Exports.
Weight.
Value.
Weight.
Value.
Germany . .
Kilograms.
3,722
276,260
169,798
Francs.
25.719
426,1*50
241, 414
Kilograms.
43,934
111,731
100
171
Francs
300.870
668,735
140
45,535
France . . . . .
Italy .
Oreat Britain .
Argentina . . .
Total .
100
500
449,880
696,283
155,906 915,280
REPORT DIRECTOR OF MINT.
209
(8 and 9) To our knowledge no direct importation of gold coins was made from the
United States to Switzerland. The American gold brought to this country by tourists
can not be valued, travelers being submitted to no customs inspection at the frontier
as concerns the money in their possession. The federal mint did not melt any Amer¬
ican gold coin in 1907 . For the rest, we refer you to what we have said m former years.
(10 and 11) Switzerland does not possess any gold or silver mines, therefore these
questions can not be answered. , , , , .
(12 and 13) Output of gold and silver from refineries of the country during 190. . Can
not bo replied to because of lack of information. .
(14 and 15) Approximate stock of gold and silver corn and bullion in the countrj at
close of the calendar year 1907 : The cash in the Swiss banks of emission ^udmgthe
National Bank, which commenced doing business in the year 190/ was, on Decern b< r
Gold.
811ver
31, 1907- Franc*.
131.995.SI69 35
. . 8,793,555.00
Ivor .
According to on climate prepared by a specialist there cny m Stritzerland a stock
ot 160,000, 000 francs in gold and 80.000.000 francs in silver (5 franc pieces and small
silver coins; no nickel or copper included).
(16 and 18) Tho Federal Government issues no government not«c
(17 and 19) Up to December 31, 1907, the circulation of bank noteso tho
Bank and of the other Swiss banks of emission
amount of notea not covered by gold or silver was, on December 31, 1907. 135,622,020
ln(20)' Actual currency of the country: Wc refer to whit is «id in our ! former replios
on the subject of monetary system in Switzerland, which is still a member of the Latin
Union , wi^on the1 mbjcctof The Swiss National Bank ,
in June, 1907. A copy of the law creating said bank was inclosed with our report oi
19?$i v From limp to time gold is at a premium according to the rate of exchange in
PaS thSu m iy p— 20 *» 25 a *m,‘11 pre-
mi um is asked for payment in gold. 7.nrirh for 1<K)7 bv taking
The rate of exchange on Pans at the stock exchange in Zunch. tor iWi, ny taking
the average value in each month, was as follows
Month.
Maximum.
Minimum.
A vmgo.
Centimes.
100. 17
100.17
Centimes.
100 07
99 82
99 92
100 02
99 95
99 95
99.90
Centimes.
100 13
99.97
99 96
100. 10
100.11
100. 00
99 93
April .
100. 17
100. 13
100. 15
100 02
09 97
August . . . .
September . . .
100.07
100 07
100.23
100.37
99.92
100.00
100 00
100 22
99.99
100 03
100.01
100 30
December .
100.37
100. 27
b<Tnc ihn federal mint on its administration for the year 1907 is included
In® 4^^322^ for tho -mo y~r. . copy of which is inched
herewith.
American Leoati®>1,
Berne, June 9, 1908.
04472—08 - 14
210 REPORT DIRECTOR OF MINT.
Report op the Federal Department op Finances and Customs upon the
Administration op 1907.
ADDITIONAL CONVENTION TO THE INTERNATIONAL MONETARY CONVENTION.
During the course of the last year France has proposed the revision of the interna¬
tional monetary convention of November 6, 1885, for the purpose of increasing the ron-
tingents of the silver divisionary coins. Upon that occasion, two other States besides
having made other propositions, the negotiations have moved along slowly; however,
it is now upon the point of being terminated, and we hope they will submit a plan
shortly to the Federal Assembly for an additional convention.
GOLD COINS.
The Swiss monetary inquiry of 1905 and other sources of information have proven
that a large number of 20-franc pieces coined by Switzerland are no more in circula¬
tion, and that in all probability they have been melted by other States or used for
industrial purposes. In consequence the department of finances has taken the neces¬
sary measures with the Swiss National Bank for retaining, as far as possible, the new
gold coins in the country.
SILVER DIVISIONARY COINS.
We have profited by the opportunity which was offered us by the negotiations
relative to tne conclusion of an additional convention to the international monetary
convention to make with France an agreement tending to facilitate the exchange of
coins between the two countries, particularly of silver divisionary coins.
To complete that measure, the department of finances has recently published a
notice concerning the circulation of silver divisionary coins. That publication has
appeared in the Feuille F6d&ale and in the Feuille Officielledu Commerce; it has,
besides, been sent under the form of a handbill to the federal and cantonal cashiers
to the administrators of railroads and steamships, as well as to the Swiss National
Bank and the old banks of issue. Besides an exact enumeration of coins which have
currency in the various countries of the Latin Union and the prescriptions concerning
their acceptance by the public treasuries, the notice contains also instructions upon
the subject of the retirement of deteriorated coins and of those whose wear is so that
the effigy and the indications of the individual countries of their issue are no longer
recognizable. These last are accepted by the public treasuries at the reduced rate of
50 per cent of their nominal value, and their bearers are authorized, when the case
occurs, to free them from this reduction, to send them to the commercial port of the
state federal cash office to be subjected to an examination.
NICKEL AND COPPER COINS.
In the last year the body of the Federal Assembly have admitted Switzerland's
lack of nickel and copper coins, and they have estimated that it would be advisable
to coin a large quantity.
It may be that during the season of strangers these coins are a little rare in certain
parts, but they do not operate here like a phenomenal passage or in a sporadic manner
where they do not end in a general dearth. The need of small coin is accentuated, it
is true, for various causes, notably, in consequence of the creation of large bazaars and
numerous lines of tramways; nevertheless, the administration of the finances is always
compelled to hold the necessary amounts at the disposition of the public, and the treai>-
urers of he state have constantly, to insure their success, to give satisfaction to the
justifiable demands which are addressed to them. The importance, on the other
hand, is not to go too far in that direction and to guard against the inundation of the
country with pieces of that description, if they would prevent tho silver divisionary
coins from passing to strangers, experience proving that the money of least value
makes its disappearance the easier.
THE SERVICE OP THE COINS.
The service al ways tends toward calls for more expansion ; the demands for exchange
of coins increases year by year, and the treasurer of the State makes it possible to give
satisfaction in case of a brief delay. Therefore, they are sometimes obliged to carry
certain coinages of the year to a large amount; it is hot really the nickel and copper
REPORT DIRECTOR OF MINT.
211
wins only which are demanded in large quantity, but equally the silver divisionary
coins. The need of these last coins is felt more particularly since we have commenced
to retire also in the course of the year the worn French and Belgian coins at a*av
standard. 1
Complaints on the subject of worn, mutilated, or uncurrent coins have been very
rare; the treasury is compelled, in exchanges, to give satisfaction to the demands of
the pubhc
The retirement of worn pieces of 50 centimes is always on the decrease, in retalia¬
tion, that of 1-franc pieces tends to increase. By way of reference, we give the follow¬
ing statement of worn French and Belgian 1-franc and 50-centime pieces which have
been retired from circulation and returned to the country of their origin:
Year.
JS
To France.
To France.
MW .
SjtfSIjssjss
l§§§i!l§l
1800 .
1902 . . . .
1903.. .
1006 . .
200 000
1006 . .
1007 .
5Q&» 000
The stock of silver divisionary coin on December 31 la«t still amounted to 620,000
franc* The cashiers hope that the provision to increase the output of new coinages,
the invoices of the pay offices of tne district, the pot-i-offires, the custom-houses,
and also that of deliveries made at the wicket (gate) will be sufficient to respond to
the needs of 1908.
EfU8 OP 5-FRANC8.
There has been delivered to the federal mint in the hist year the total sum of
1,085,000 francs of old Swiss e?us of 5 francs with the effigy of Helvetia seated These
ecus, which were required to be melted and recoined, had been delivered to the fed¬
eral treasurer of the State by the public treasurer in Paris in exchange for worn silver
divisionary coins returned to France, their country' of origin.
Monetary Review.
GOLD MOVEMENTS FOR THE YEAR.
[From tbo Honkers Magazine. London, January, IMS.]
The turnover in gold at tho Bank of England during 1907 must, wo fancy, have
been almost the largest on record. It is striking, however, to note that, not withstand¬
ing the huge exports to New York, the net movements up to December 20 actually
showed an increase on balance of no less than £5,406,000. This was partly due to tho
“ unearmark inp” of some 4,600,000 of Indian gold and the large purchases of bar
gold early in the year. In fact, the net amount imported is even greater than in the
previous year, the shipments in 1906 to Egypt having been about £7,000,000 against
onlv £4,580,000 in the past year, while tho withdrawals of gold for America in 1906,
though not so great as in 1907, were on no mean scale.
212
BEPOBT DIRECTOB OF MFNT.
Gold Movements at the Dank or Englavd from January 1 to December °0
1907.
Bar gt*d aold to United States . £6,00,000
French puld torn Mid . ... jn.COO
To Sooth Amenta . 7.034.000
To Egypt . tiaw.ooo
To tm te«i States (luted Slates am).. 4,10.000
To India ("untannarkM '’ . 4,375 000
To Front* . 2,4®:, 450
To Turkey . 1,150.000
To Italy . 500 000
To Continent . 445 000
To Singapore . . 345 000
To Roumanian.. . . . iso'aoo
T°Hoa«id . irv.cn,
To South Africa. . . Ur* ooo
To Jars. . 107 000
To Batavia..... . » ™
ToMalte .
To Buenos Air_
To Now York cm
To Brazil ...
To Gibraltar .
To C anada
To Peru...
To Guayaquil.
5.000
»,000
HI. 000
67,000
57,000
42,000
25,000
25,000
15,000
11,000
10,000
5,000
*,011,000
Bar gold bought . £l3.Cf> ocb
United States gold com bought . 3,53u!ooo
French gold com bought . . or ooo
German gold onto bought . . »,» 000
Austrian paid cam bought . um
From Egypt . . . »2,0Gh.a»
From India (“anrsnnarki>i 4.tB noo
From Oaotxanat . 1,‘CT OOD
From Australia .
From Turkey . iM.ooo
From Svaden. . nn m
From Denmark.. . 125,01)
From Norway . 135.000
From Sooth America . 1GI.0D0
From France . . . . a. non
From Manieruteo . 25,000
From Malta . 3o,o®
From Germany . 17,000
From Porto rai . 16 a»
From Gibraltar . is, (Hi
From Swltaeriand . 10 ooo
*,011,0
•Indudmi: this sum and doduetiu t!
preaent • earmarked ” at the Bank of E
int noted In the tefcte as haring bet
d account of the Indian cumiwy r
leased, the total at
e reaches apprcxh
the silver market.
.J5* rec0fd oI ^ver “ >-ear 1907 toil ha* just com© to an end has been one of
persistent depreciation. The year opened with the metal standing at about 32<d. per
11 quotation at 24Jd. The fall of nearl/rd. in the time hL
m thTw tT^d^rbkU^t^U^OUit lhe year’ “ toe gre alert <fepre*ion took place
in the last three months Early in the >ear it was clear that the market had Wn
£k I£*ie^-V toe Indian government to increase its
reserw* of silver, but although no firmness was shown there was no depreciation of
lit5e^^31dU!J^t^tob€SLi!LtHe beTnni.ns of which month the price «tood at a
little over 31 d. per ounce boon after that date it was recognized that India would
month nr“f^eT “ for« «£ the ordeal of anotbS famine, and within a
SSw* The whJ5u^P»,IOn 0i Vlle a chan«p to toe condition of the
market. The whole matter came really very suddeulv upon dealers, as the monsoon
raLher. f»v°ntbly, and for sometime 'the* rainfall was quite normal
7 ; * °?^te change took place, and over a large area of India the crepe
hAt ^ 8aiUe tonv toe market has been troubled bv offerings
r“'*r China, where a portion of the silver purchased during the Ruseo-Jar*
Wu°u d 10 havo *Pttled down in the ports, and the bank- have h it
10 ship moderate amounts from time to time Evidently the market mu?'
^ cond.ltlon thw circumstance coinciding with the high value
of mone> caused heavy tales, with the result that quotations have fallen to »4ld i**r
S^aSE?** for forward deliver ^ ie L
of silver presumably f Government has been a much heavier purchaser
for the ’AmnSnw5 A t th? ^*7 coiURgo. although some is believed to lie wanted
entirely on dhe^Lndhan <fcmand*and dtould*the posi^onfm^le "K** ****** *ta"t
might easilv be seen hnTif™ r - ,on 1 “prove there a smart reexn ery
S^ofTxt ~rt?‘.-^t-nPe.ych it U to be feared that the eariy
Ctod both Indian bank rata etand^folly I y lc® Uu“
REPORT DIRECTOR OF MINT. 213
Tho following table gives comparisons of leading eastern exchanges, and some of
the speculative currencies:
Country and coin.
December,
1907.
December,
1906.
December,
1906.
December,
1904.
December,
1903.
India, pence per rupee . .
f. d
S 3
|
*. i.
1 4 A
9, d.
0 io}j
o 14$I
0 50|i
0 31 02
1. 4.
1 4A
*. d.
1 4 A
Shanghai, pence per tael .
Hongkong, pence per dollar .
Brazil, pence per milreis .
Chile, peure ]>er dollar . .
Portugal, pence per rollrels .
Madrid, peseta per pound sterling .
2 5
1 10
0 15
0 8
0 47
0 28
)
68
3 oi
2 2}l
0 15$
0 144$
o 54
0 27.63
Lif
it
0 34.00
? 2f
0 12 A
0 I6l|
0 42*
0 34.13
HAITI.
A nsiccrs to interrogatories, 1907.
(1, 2, and 3) No gold or silver was coined, recoined, or melted during 1907. There
is no mint in Haiti.
(4 and 5) There are no statistics showing the amount of fine gold or fine silver used
in the arts. Other than in photography there seems to be no industrial use of gold or
silver.
(6) It is impossible to state the imports and exports of gold during the year 1907, as
no statistics are available.
(7) No silver was imported during the year 1907. Some Haitian silver coins were
exported as bullion, but it is impossible to give value.
(8) There was a considerable importation of United States gold in 1907, but the
amount can not be ascertained
(9) No gold coin has been melted. There is no mint in Haiti.
(10, 11, 12, and 13) There was no gold or silver produced either from tho mines of
the country or refined during 1907.
(14 and 15) No statistics are kept as to the stock of gold and silver in the country,
in public treasuries, banks, or in circulation. There is no gold or silver bullion m
(16 and 18) Government notes outstanding: On December 31, 1907, there was out¬
standing 7,495,248 gourde's, paper The whole of the 7,495.248 gourdes, paper, which
is outstanding is not covered by gold or silver coin or bullion.
S17 and 19) There are no bank notes in Haiti
20) The actual currency of the country is inconvertible paper.
21) Gold is at a premium as compared with the actual currency of the country.
The highest premium during 1907 was 496 per cent; the lowest premium was 337$ per
cent, with an average premium of 407 per cent.
(22) Authority was given bv the law of August 20, 1907, for the coinage of 1,000,000
gourde* in 20-cent nickel pieces, and 1,000.000 gourde* in 50-cent nickel t>iee<*.
These were coined in the United States in J907 and immediately put in circulation.
(Copy annexed.) . .
(23) There is neither mint nor department of mine* in Haiti.
American Legation,
Port (iu Prince, March 6, 1908.
[Translation.]
Law.
Cowddering that because of lack of surplus receipts, tho supplementary credit for
tho fiscal year of 1906-7 has not been met, it is therefore necessary to provide ways
and means to meet it;
Considering that it is also necessary to moot tho expenses at the end of the said fiscal
y*The house of representatives, in view of the power granted it by articlo 69 of the
constitution, has proposed, and the legislative corps has sanctioned the urgency of
the following law: .
Article 1 The secretary of state for finance is authorized to have coined nickel
pieces to the amount of 2.000,000 gourde*, 1 ,000,000 in pieces of 20 cents and 1,000,000
ni piece.- of 50 cents. One million five hundred thousaud gourde* for the current
fiscal year, and 500,000 gourdes for the fiscal year 1907-8
214
REPORT DIRECTOR OF MINT.
Article 2. The pieces shall bear on one side the coat of arms of the Republic the
figure 20 and the figure 50 below; on the other side the effigy of the President of Haiti
and the year of coinage.
Article 3. The amount of this coinage shall be employed to meet the expense! above
mentioned.
t 4 Tho prosent law abrogates all laws or provisions of laws contrary thereto.
It shall be executed under the supervision of the secretary of finance.
Given at the house of commons August 10, 1907; one hundred and fourth year of
independence.
The president of the house.
A . S. Archer.
The secretaries
G. Desrosikrs,
Louis Brutus.
Given at the national house, Port au Prince, August 20, 1907; one hundred and
fourth year of independence.
The president of the senate.
rp, . T. A. Duprro.
The secretaries:
E. Cineah,
Diogene Lerebours.
the name of the Republic the President of Haiti directs that the above law of
the legislative body shall bo vested with the seal of the Republic, printed, publi.-hod
and put into force. r
Given at the national palace, Port au Prince, August 28, 1907; one hundred and
fourth year of independence.
Nord Alexis,
_. ... By the President.
1 he secretary of state for finance and commerce :
F. Marcelin.
HONDURAS.
Ansuert to interrogatories, 1907.
0 and 2) No gold was coined during the year 1907 No silver coined either at
home or abniud, except an insignificant amount, perhaps $3,000.
'•*) couiage executed for other governments.
(4 and 5) No data as to gold used in the arts, probably none. Amount of silver used,
no data, amount insignificant
StatL^^1n1*ym|l0t^) Exi>OT^ for year OIidin8 Au«ust 1M7, value in United
(7) imported Exports as above, $250,000.
melted dNoT^m°Unt 01 Unitod SuteB coin imp<.rted and deposited at mint and
!}? “ j \\\ 9u,d and siher produced from mines of the country durimr 1907: None.
None d 13 0utput of g°ld and silver from refineries of the country during 1907:
_ Ai4 15^. Approximate stock of gold and silver coin and bullion in the country
at the d«e of the calendar year 1907: No gold; no data as to silver.
(16 und 18) Government notes outstanding at the end of 1907: None.
Sti!L“ZLy“w°l"wo.Srd,D8 11 lhC l'nd °f 1907;
i20^ Actual currency of the country: Silver.
21) Premium on gold during 1907: From 130 to 155 per cent
22) No laws were passed during 1907 as to couiage etc.
23) No reports of mine published.
American Consulate,
Tegucigalpa, March 17, 1908.
INDIA.
Imports and Exports of Gold and Silver during the Year 1907-8.
^ttTb«iiionlh,Vr,n'1. "'"ft , °f. h
REPORT DIRECTOR OF MINT. 215
$32,229,166 (nearly); 59,539 ounces, valued at $1,150,075 came in the form of other
coined gold .
Exports of gold. — The exports of gold from India during the year aggregated 599,065
ounces, valued at $1 1,283,042 (nearly). Of this total 584, G58 dunces represented bul¬
lion, valued at $11,002,369 (nearly); 3,026 ounces represented sovereigns and other
British gold coin, valued at $59,415 (nearly), and 11,381 ounces in other gold coins
valued at $221,257.
Imports of silver. — During the year the total imports of silver amounted to 106,291,860
ounces, valued at $71,733,286 (nearly). Of this total, 85,795,355 ounces represented
bar silver, valued at $57,520,964 (nearly); 1,004.228 ounces represented otner kinds
of uncoined silver, valued at $615,771 (nearly), 4,529,432 ounces in government of
India rupees, valued at $4,027,976 (nearly), and 14,962,845 ounces in other coins,
valued at $9,568,554 (nearly).
Exports of silver. — The total exports of silver from India during the year 1907-8
amounted to 8,442,915 ounces, which was valued at $6,878,624 (nearly ). Of this total,
302,264 ounces represented bullion and was valued at $222,932. The silver represent¬
ing rupees weighed 5,988.221 ounces, and was valued at $5,411,893 (nearly). The
silver representing British dollars weighed 1,081,831 ounces, and was valued at
$951,454. The silver representing Straits dollars weighed 341 ounces and was valued
at $225. Other silver coins imported weighed 470,258 ounces and were valued at
$292,120 (nearly).
The net imports of gold in 1907-8 were less than in 1905-6 and exceed those of
1906- 7, and the amount of silver imported in 1906-7 exceeds the imports of 1905-6 and
1907- 8, as the following table will show:
Y«r.
Gold.
SUver.
1905-6.
$1,526,<MA
$557,333
lttoa--.
IV,. 000
NUO.OOO
1907-8..
575,333
64H.333
Imports and Exports of Gold and Silver during March, 1908.
The total imports of gold into India duriug the month of March. 1908, amounted to
260,906 ounces, valued at $5,459,662, of which 163,570 ounces was in the form of bullion,
valued at $3,536,883. The weight of sovereigns and other British gold coins was
90,508 ounces, valued at $ 1 ,792,824 . The small balance was in the form of other coins.
The exports of gold during the month aggregated 48,591 ounces, valued at $921,702
(nearly). The exports were made up of gold bullion weighing 48,575 ounces, valued
at $921,402; sovereigns and other British coin weighing 2 ounces, valued at $30, and
14 ounces of other gold coins, valued at $270 (nearly).
Imports of silver. — During March the total imports of silver amounted to 67,022.764
ounces valued at $4,444,174 (nearlv). This toUl was made up of bar silver weighing
6,165,190 ounces, valued at $3,681,904 (nearly). The rupees and other silver coins
imported weighed 857,574 ounces and were valued at $702,209 (nearly)
Exports of silirr —The total exports of silver during tho month amounted to 522,755
ounces valued at $513,048. This was made up thus: 7,861 ounces in bullion, valued
at $6 460 (nearly); 381,203 ounces in rupees, valued at $427,736 (nearly); 95,867
ounces in British dollars, valued at $51,645 (nearly), and other silver coins weighing
37 824 ounces, valued at $27,206. , . . ,
Net imports of gold and sili rr —The net imports of gold and silver during the month
amounted to $4,M6,666 gold, und of silver $3,930,000, showing an oxccss of import* of
gold over silver for the month amounting to $606,666.
GOVERNMENT RESERVES.
Tlin total balance in the reserve treasuries of the government of India in the evening
nf r.i 7 long amounted to $18,355,687. Of this amount Calcutta held $12,224,794,
Madras $3,918,011, and Bombay $2,212,882.
INDIAN FINANCES.
The amount of silver coin held in the paper currency reserve in India on May 31,
1908 was $87,600,000; gold coin and bullion, $6,760,000, and silver bullion under
coinage $23,620,000 The coin and bullion hold in the paper currency reserve in
England was $13,366,666. There was no transfer of gold between the paper currency
216
REPORT DIRECTOR OF MINT.
reserve and the gold standard reserve during the week ending May 31, 1908 The
silver hold in the gold standard reserve on the same date consisted of $20,000,000 (the
pennaneut nucleus of its silver branch) and $9,560,666 paid into the reserve out of
the proceeds of sterling bills drawn on the secretary of state for India, exclusive of
$7,200,000 held in deposit on account of further bills drawn but not yet presented for
payment in London.
American Consulate General,
Calcutta, May 7, 1908.
Government of India,
Finance Department,
Calcutta, February 5, 1908.
Working op toe Mints at Calcutta and Bombay during the Year 1906-7.
RECEIPTS OP GOLD,
The tenders of gold by the public at the mints exceeded in value those of the pre¬
ceding twelve months by about 2 crores of rupees
The following statement compares the value and nature of the tenders with those of
past year* :
CALCUTTA MINT.
Year.
Value of
sovereigns
an<l half
sovereigns
of cunrnt
weight.
Value of
light and
uneunrnt
sovereigns
and half
sovereigns.
Value of
bullion.
Total.
1904-6 .
Rupees.
07.460 130
30 572 790
Rupee i
444,830
Rupert.
Rupees.
67 895,000
1906-6
1900-7.
49^638! 547
779' 9Q
104. iSo
50 418, 510
_
BOMBAY MINT
Year.
Value of
sovereigns
and half
sovereigns
of current
weight.
Value of
light and
uncurrent
andThSf3
sovereigns.
Value of
bullion.
Total.
Total value
of paid
tendered.
1904-5 .
Rupert
49,315, 410
14.381.790
14,530.000
Rupees
ftsl.735
240.028
5,840
Rupees
590,846
6®, 424
187,422
Rupees
iO.887.Wl
15.281 242
14,713.302
Rupees.
118.rSJ.061
46. 067. 072
65,131.772
19U5-6 .
The bullion received during the year under review consisted rnainlv of cold from
ldiAH mines.
COINAGE OF 8ILVER.
The silver coinage was as follows:
Denomination.
Calcutta.
Bombay
Total value.
Value.
Value.
Rupees . .
Rupees.
08.172,018
1.518.054
2, tt>7 . 985
2,768,081
Rupees
Rupees.
Half rupees .
Quarter rupees
One-eight rupee*
;;
160,531.265
20a 002
253.706,283
1.718.056
2,667 9N5
2.768.081
Total
100,126,138
160.731.367
300, 857, 405
REPORT DIRECTOR OF MINT.
217
The outturn of rupee* during the year 1905-6 exceeded by 2} crore* the maximum
number previously turned out in any one year. The large figure then reached was
exceeded during the year under review by more than 5} crore*. A portion of this
heavy coinage was required in connection with the formation of the silver branch of
the gold standard reserve, which government decided to establish during the year.
This was built up from the profits on coinage during the course of the year to 600
lakhs of coined rupees, of which 200 lakhs are held at the Calcutta mint and 400
lakhs at the Bombay mint.0
A portion of the coinage represented the recoinage of 1,835 and 1,840 rupees and
uncurrent coin, but by far tne greater number of rupees coined were struck from
bullion, this being for the most part purchased by the secretary of state in England,
but partly also through local banks. A small amount of coinage was undertaken on
behalf of the Tonk Durbar, which has adopted British Indian silver currency in
place of Mahomed Khani currency in the Sironi pargans.
No dollars were coined during ihe year at either mint.
CALCUTTA MINT.
Withdrawn and unourrent silver coins were received for recoinage, of the nominal
value of 16,289,282 rupees, classified as shown below:
Government rupees and half rupees of—
Rupees.
. 987.000
1840 (first Issue) .
1840 (second Issue) . . .
Government rupees—
fihroll marked, defective, and dumb coins .
Worn coins . . . . . .
. 8,888,100
. 7.800
Reduced rupees and half rupees .
. :. * 20,300
Total . . .
Mahomed Khani coins of the Tonk Durbar of the exchange value of 990 rupees and
yielding 1,011 standard tolas were received for recoinage into government rupees in
connection with the conversion of the currency of the State.
The silver coinage was 129,024,714 pieces, valued at 100,126,137! rupees, against
95,241,111, valued at 78,291,213$ rupees in the previous year, and was in excess by
33,783,603 pieces, valued at 21,834,924$ rupees The most noticeable increase
occurred in the case of small silver, for which there was a steady demand throughout
the year In addition to the rupees and small silver coined during the year, 40 lakhs
of tolas (4.000, 000 rupees) of silver were con's cried into blanks and then remitted to
Bombay to be finally coined into rupees there.
A portion of the heavy rupee coinage of the year was required in connection with
the formation of the silver branch ot tho gold standard reserve which government
decided to establish during tho year.
This silver reserve consists for the present of 600 lakhs of coined rupees, of which
200 lakhs will be held at the Calcutta mint. The building up of this reserve was
commenced from the beginning of tho year and was completed abort! y before its close.
HO VI 1»AY MINT.
Withdrawn and uncurrent silver coins were received for recoinage of the nominal
value of 11,787,522 rupees, classified as follows:
Government rupera and half rupees of—
1840 (first Issue) . : . .
1M0 (second Issue) . 7,788,351
°°V8hrofT m^kS^defectl vs, and dumb coins . . 490, 048
Worn oolns . . . . . .. . . . 874,580
Reduced rupees and half rupees . 31,881
A root coins .
Confiscated coins . SO
Total . . . . 11,787,522
Mahomed Khani coins of the Tonk Durbar of the exchange value of 172,884 rupee*,
10 annas. 3 pies, and yielding 176,395$ standard tolas were received for reco inage
into British India government rupees in connection with tho conversion of tho cur¬
rency of tho State.
• A lakh of rupee* li 100,000, and a crore la 100 lakhs, or 10,00(1.000 rupee*.
218
BEPORT DIRECTOR OF MINT.
The government coinage for the year consisted of rupees and half rupees and
amounted in value to 160,731,267 rupees, being the largest silver coinage on record
for the Indian mints, the next highest figure being 121,723,238 rupees, which was the
coinage of the Bombay mint for 1905-6.
The amounts coined were distributed as under:
On government account ( including 400 rupees lakhs /or the gold standard reserve) ino vaTw
On account of native States ^Tonk Durbar) . 172^
No coinage was undertaken for any other government during the year.
A portion of the heavy rupee coinage for the year was required in connection with
the formation of the silver Dranch of the gold standard reserve which government
decided to establish during the year. This silver reserve consists for the present of
600 lakhs of coined rupees, of which 400 lakhs will be held at the Bombay mint.
Importation.
[From Bulletin do St&Ustlquo, Paris, June, 1908.]
Classification.
Importation.
Exportation.
1900.
1907.
1906.
1907.
Coins and ingots:
Gold .
Silver .
£11,743,028
£13,406,849
£3,595,061
£2,172,915
5,005,037
7,174,840
1,422,960
1,205,239
JAPAN.
Answer* to interrogatories, 1907.
Kinds and amounts of gold coined and recoined, as well as gold melted, during
the calendar year 1907:
Coined:
20-ven.
10-ycn . .
I6.3SO.OOO
1,580,000
17,960,000
Recoined: None.
Melted: Domestic ancient gold coins, 2,283 yen.
.JV H a.n(* amounts of silver coined and recoined, as well as silver coins melted,
during the calendar year 1907:
Coined:
. . 12,039. 905
“r**31 . . a <vr> ua
10-SU).
Total.
Recoined:
60-sen. . .
20-sen . . .
Melted:
Domcitlc ancient colni . .
Domestic old coins. .
Domestic new coins . . .
Foreign silver coins: None.
There wua no coinage executed at
1,200,663
17.242,970
97,703
7,633
any foreign mint during the calendar year 1907.
REPORT DIRECTOR OF MINT. 219
(3) Coinage executed for foreign governments during the calendar year 1907:
For Korea.
riccra.
Yen.
Half yen. silver.. . . : .
Ibsen, silver .... . .
500,000
353,787
243, 066
U^md, silver..
Total
1,006,853
800,000
100. 000
8,509
Nickel.
Bronze 1-sen. .
Bronze half sen . ......
Total . . . .
008.5M
Grand total . .
2.006, 453
(4) Weight of fine gold used in the industrial arts is unknown.
(5) Weight of fine silver used in the industrial arts its unknown.
(6) Gold exported and imported during the calendar year 1907 :
Items.
Exports.
Imports.
Amount.
Yen value.
Amount.
Yen value.
Japanese gold coins .
Jiptonu old raid colm
1,450
500
18,001,278
2,900
516
864
1,290,700
Russian roubles
60
62
Other foreign coins
British pounds - •
5 «*
3,417
10,205
United States dollars _
.. Total
Gold bullion . . . . -
18,605,558
• 179,180
1,244,384
5,723,277
Grand total .
6,900,661
• Ounce*.
Classification of the above according to countries
Countries.
Export.
Import.
Russian Asia. . . .
Yea.
10,653,630
7,635.000
6’z70
Yen.
1,590.985
5.435,676
. *,’aoo
400, 395
18,005,560
6,900,661
(7) Silver exported and imported during the calendar year 1907
Items.
Exported
Imported.
Amount.
Yen
value.
Amount.
Yen value.
U
38
es.aou
If
1.163,982
75,333
22,3*3
25,502
JopSSe ouxUIojt coin*
Indian rupee* .
KasUa rubles- -
Mexican dollars .
8.800
1,666
27,562
2
5,818
1,700
28, VX
7,021
7,626
13,023
United States dollars
Other oountm*
Silver bullion .. - . .
•8,737*
• i6, aio
Total
i •""I-
1,988.777
220 REPORT DIRECTOR OF MINT.
Classification of tho above according to countries:
Countries.
Exported.
Imported.
Yen
29,622
14,998
14,789
1.400
258
886
Yen
408,262
866,985
Hongkong
British India .
Russian Asia .
England ... .
289
Australia .
Hawaii . .
British America. .
2
. i,772
63,727
60
154
8,592
2,500
Total .
1,286,812
Gold and silver exported and imported in Formosa during the calendar year 1907:
Items.
Exported.
Imported
Amount
Yen
value.
Amount
Yen
value.
Japanese gold coins.
24,600
2,210
1-yen silver coins .
1-yen silver coins (stamped ). .
Mexican dollars . * .
111,714
2.502
100
111,714
2,502
100
75,606
214.880
5.072
377
211. W0
5,062
377
107,700
5.089
3,541
Japanese auxiliary silver coins. . .
Hongkong dollars . . .
Other foreign silver coins
Total silver coin..
189,924
44,286
333.695
3,590
3.177
Grand total . . .
258,870
• Ounces.
190?! l^lraySn. °f th° UnitCd StAtG8 °f Amcri(’a imP°rted during the calendar year
thi^fendaT^liw, non^ Stat“ °f America melted at ** ******* mint duril*
Japa°n ^no cdony^ ^ in Japan’ excludin£ Formosa, 735,708 moinme *
ml Go kf c™ * De8 !? Japan/ excluding Formosa, 23,519,189 mommo.
3 SUver rofin^ in ln ^0"^ dS™g ih? calendar 1*>7, unknown.
4 Gold c£n« ™ d h£r refine?lCfl d»nng the calendar year 1907, unknown
( ) Oold coma and bullion in the country at the close of the calendar year 1907:
Gold coins. .
Yea
53,176,655
u ss&jr- - "aono <-~.wbim.mu. . -s5m«
. 21,07S,1U
Gold bullion ™ r~
. . 139, 154,60®
Othwi?; of J*I>an M "***• for convertible notes .
(15) Silver coma and bullion in the country at the end of the calendar year 1907:
132,613,887
6,510,813
Silver coins .
In naUonol troosury.
In circulation . . .
Silver bullion .
In national treasury . .
In circulation . . .
«A mommo equals 2.11 pennyweights.
report director of mint.
221
ng\ Government notes in circulation at the end of the calendar year 1907,
(17) r™’* - - - f iU " T>nr''r T.non in circulation at the end of the calends
> Government notes in circulation at tne enu 01 me
) Convertible notes of the Bank of Japan in circulation at the end of the calendar
y wKnment1 notSnnot covered by reserve fund in circulation at the end of the
“(iSf NotS'oUhi B?nk of Japan not covered by reserve fund in circulation at the
no difference in value between currency and gold. „ follow*
(22) Law No. 6. March 5, 1907. The co.nace law ,s amended as follow^. ^ ^ ^
Item 2 of Article V is amended to read as f°Nows. 2. Sri " ilver to 280 parts
800 parts pure silver to 200 parts copper; 10-sen, <20 parts pure save i
“?£m 6 of Article VI is amended to read as follows: C. 10-een silver coins. 6 monune
(2.25 grammes). supplementary clauses.
This law shall take effect on April 1, 1008 . ■ .lotion as before.
The 10-sen silver coins previously issued shall remain in circulation
American Embassy,
Tobjo, June 1, 1908.
MEXICO.
[Translation.]
A nsuers to interrogatories, 1907.
Coinage of gold, silver, nickel, and bronze coins in and for
ing the calendar year 1907 :
the mint of
Mexico dur-
Denomination.
Number of
pieces.
Value.
Gold: .
Pieces of . . .
Pieces of $5 .
1,589,000
1,088,000
$15,890,000.00
5,440,00a00
2.677,000 21,330,000.00
Bilvor .
18.920,000 9, 460, 000. 00
r nm iWl S00 000. 00
Pieces of 20 cents . . .
4 . 000 . UUU nw, t'uu* w
5,950,000 595,000. 00
28,870,000
:
8,642,000
10.855, ooa 00
“*£, w*. of silver n,*lc in the min. « Sm, FmmUco. CM.: «•»*»
4,321,000.00
3,099,61a 50
6 1W|23&
5,434,619
1,066,923.80
20,275,858
8.507,543.30
Nkc2inagc of nickel made In the mint at Birmingham. England: Pieces
4,000,000
2oo, ooa 00
Br°CoiiWKC of bronre mode In Uie mint of Dlrmlnghnm, England:
Pieces of 2 cents . .
900,000
2,130,000
18, ooa oo
21,500.00
Pieces of 1 cent .
Total .
3,050,000
39,50a00
American Embassy,
Mexico , March SO, 1908. ...
„ __Thc mint of Mexico having had to coin an enormous amount of fractional
•.N°r rnin and as it was impossible within the limited tune which the necessities of
8i1Vf,^r<.i\ation demanded, desiring also to provide for the demand for gold coin,
fciSlS to have coimni in the mint at Philadelphia gold pieces of 10 and 5 pesos, of
t1<£vh the receipt and putting into circulation in Mexico commenced m February,
1000 afterwards, for similar reasons, they had coined in the mint at Birmingham,
222
REPORT DIRECTOR OF MINT.
a^“NjwP0^°„l,tdl“v(.rrOnZO' a“'1 °f “lv"r in the m“l3 of S*> Fran-
Coins retired from circulation and recoined were as follows:
Description.
Nominal
value.
Value of gold
contained.
Gold:
Old Moxican coins .
39,556
3,564,785
11,000
16,300
7,000
318,685.59
8,096,501.23
107,220.46
6,2U*l45
2,705.69
Spanish pesetas _ . .
Total gold _
Silver:
3,608,641
8,231.408.42
Old Mexican coins.
6,003,000.00
69,954.75
Total silver .
82,178.75
6,072,954.75
coinage,
Tlk
*&** 0{ $97'903-83-
The production of gold and silver during 1907 was as follow!:
Kilograms.
Value In Mexi¬
can pesos.
Gold .
stiver . .
28,108.834
1,901.934.789
37, 478, 3G3. 09
83.044,907.21
120,523,270.30
coin, 'and ^he^id^euls^bta^^^b^tlre commiw^ b>f the,amount sported lew
purpose of coinage Ule C0mmifl8ion of exchange and com for the
of nur^^Tj^Xr'^ t0 *e 801(1 aDd HiIver -e exprewed in kilogram*
sav, Jlh333a331Gjle°rf kdSgram.^corlfine ^ thV K° !**§ \! 7*\ c^?ti^ramM to a peso or,
hsLd the new monetary r^'ime of the8United Staled of^exk^’ *°°5' Wh*C“
4. The values of the silver are calculated flemrdincr Jv
to the average price of silver in London ead! month. g * a™gements relative
quantities ^nd vll of^old sil SJer^ v^un ^mpossiblo to determine the
are made out according to thenriminf » c°u5fnefl> because the statistical reports
and (his embrace S riK C a “rc01 'n° ordi“n«> for the customs tariff,
which they import & diff«eni of mid metiif ' U“‘ “ ,hu “
Importation* op Gold and Su,ver due, no the Calendar Year 1907.
- [From Estmdlstlca Fiscal, Mexico, 1907 ]
Classification.
sl!vcr- “I P!»tlaum In bullion. dual. cte.o p™. _
Ci old, &11\ or, And platinum ust'd in arts and minnfo/ ti^ . . Wl, 46S. 85
Lcral-tcndcr gold and silver coins ofoll . 17,817,510. 97
Mexican silver coin ( 1-pcso pltw* > COUntrtC9 * . 10, 788, 550. 0<i
Odd beaten into leaves for gilding . . — . MO. 30
silver beaten into leaves for plating . . . i 8,360. 20
. . . I 35, 007, 101. 43
o Free of duly.
tb^80101 aiIvef 01111 not bo determined separately, becauoo the
irima HI1' ? the same are made up according to the nomenclature of the cuo-
wl>ich embraces a.** a whole gold, silver, and platinum; therefore it is
uot possible to give the data relative to each metal.
REPORT DIRECTOR OF MINT.
Exportation op Gold and Silver during 1907.
223
CloaslficaUoD.
Gold.
Silver.
Weight.
Value In Mexi¬
can pesos.
Weight.
Value In Mexi¬
can pesos.
Ore .
KUo^rams.
2,274.822
3,033,089. 72
Kilogram*.
239, 133. 9(12
Mexican coin a .
11,39^,844. 14
Foreign coin .
5,023,403. 54
19,653,362.28
577,005.467 |
23, 010,221.00
’23s!m oo
24,500.717. 15
22, 105, 7€1 00
Bullion (silver In bors) .
Silver in lead Ingots .
14, 740.050
563,427 351
506. 485. 395 1
Silver alloyed with copper .
21 * 3J0* 7u9 02
Cyanides .
Sulphides .
312. K73
373 421
417,162.41
497,803.27
*11 ; 000 904
18,901.409
* 4KMvJ7. &&
7K5.115 W
Total . i
17,701.106
28,624,911.22
2,428,634.804
104, 701,337.71
• Free of duty.
NETHERLANDS.
Answers to interrogatories, 1907.
Jl) In 1907 no gold waa coined.
2) Silver pieces were coined to a nominal value of 9,250,000 florins ($3,718,500) as
owe:
Denomination.
Florins.
United States
equivalent.
Guilders (for the Netherlands) . . .
4,600,000
500,000
1,650,000
1,100,000
1,400,000
11, 849. 200
301,000
063.300
442,200
562,800
For the Netherlands Indies:
Guilders . . . .
J-gulMors
}-gullders . . .
l^-ffuUdcr^ . . . . •
The silver required was obtained by the melting down of recalled Netherlands
Indies small coins to the value of 719,707.24 florins ($288,519.11), and further melted
down large coins to the value of 8,500,000 florins ($3,417,000).
(3) Coinage executed for other governments during 1907: None.
(4 and 5) The quantity of gold used in industrial arts may be estimated at 950
kilograms of fine gold and the quantity of silver at 12,611 kilograms of fine silver.
Whether this was obtained from new cold or silver or coins can not be stated.
(6 and 7) Imports and exports of gold and silver during 1907 :
Doicrlptlon
Imports.
Exports.
Florins.**
United
Stales equiv¬
alent.
Flortns.o
United
States equiv¬
alent.
28,800,500
1,963.480
438,958
1,056. 1S2
1,069,459
4,200
305. 100
26,680
125,278
12,746,772
3,565
9,700
1 mm
uThry figures are taken from official statistics In regard to which, however, especially as far as exports
arSS£!m£t! little reliance Is to bo attached.
(8) Total import of United StAlo* gold coin during 1907: Not known
(9) Amount of United States gold coin deposited at mint and melted during 1907:
None.
224
BEPORT DIRECTOR OF MINT.
(10) The gold production statistics are sent to the American legation by thou jiini-'U r
of colonies, and have not as yet been furnished. TBJ
(11) The silver production is not known.
^(12 and 13) Output of gold and silver from refineries of the country du;
T 1907:
'of the
5,600,
'ether-
►inable
that
(14) Approximate stock of gold coin and bullion in the country at the clo«
calendar year 1907: It is estimated that there are 47,800,000 florins, or $19l
in gold 10-guilder pieces, of which 30,773.000 florins ($12,370,746) wore at the
lands Bank on the 31st of December, 1907. At that time there was gold «.
material in bare and foreign coin to the value of 61,019,000 florins ($24 529 638) 1
establishment.
(15) Approximate stock of silver coin and bullion in the country at the close of the
/*!onr * JTU’. 190?: 11 “ e«timat<?d that of large coins there were 121,500,000 florins
($48,543,000) m circulation, and of small coins 11,540,000 florins ($4,639 080) Of
this amount, 54,804,000 florins ($23,031,208) were at the Netherlands Bank in Decem¬
ber, 1907.
(16 and 18) Government notes outstanding at the end of the year 1907: None.
(17 “5* l9) Netherlands Bank notes represented the sum of 272,547,000 florins
($109, 56-, 890) on December 31, 1907. According to the octroi accorded to the Nether¬
lands Bank, notes must be covered to 40 per cent of their value by coin and coinablo
material At the end of 1907 there was against 272, .547, 000 florins ($109,562,890)
worth of bank notes in circulation 164,596,000 florins ($58,931,592) worth of metal
in stock.
(20) Actual currency of the country: The Netherlands coinage circulation consists
of gold and silver. Gold is the standard coin. Largo silver coin is legal tender to
anv amount. There is no unchangeable paper in the country.
(21) There is no premium on gold in this country.
(22) Laws passed during 1907 affecting the currency: None.
(23) The report of the mint is sent annually to the Director of the Mint at
Washington.
Legation of the United States,
The Hague, Augxut 7, 1908.
Monetary Legislation.
[From Report of tbo Minister of Finance, Paris, 1907.)
LAW OF DECEMBER 31, 1906.
Having for its object the substitution of a nickel piece of 5 cents for the silver piece
of the same value.
W’e, W'ilhelmina, etc., To all whom these presents concern, greeting. Know ye:
Having taken into consideration that it is desirable to replace the present 5-cent
piece for another 5-cent piece of larger size;
h or these reasons, our council of state ordered and in common accord with the states-
gencral, have resolved as we resolve by these presents :
Article 1. The second paragraph or article 2 of the monetary’ law of 1901 shall be as
follows:
(a) In silver: 25-cent piece, 10-cent piece.
(b) In nickel: 5-cent piece.
(c) In bronze: 2^-cent piece, 1-cent piece, J-cent piece.
Article 2. Article 5 of the mono tary law shall be as follows: “No one is obliged to
accept in pay’ment the odd silver coin for an amount above 10 florins; for more than 1
florin of the nickel, and for more than 25 cents of the bronze.”
REPORT DIRECTOR OF MINT.
225
Article 3. The table contained in article 6 of the monetary law is as follows-
Fineness.
I/OgtU
fineness.
Tolerance.
Thousandth *
Thousandths.
000
16
063
10
045
1.5
945
L6
945
1.5
640
4.0
640
4.0
J « 250
• 10
\ *760
6 10
t>950
5 10
* 40
* 5
4 10
45
Denomination.
Weight.
bright.
Gold.
10 florins . .
Ducat .
Silver
24 florins . . . .
Florin.
4 florin
25 cents .
10 cents .
Nickel.
Scents . .
Bronze:
2 J cents .
Cent .
i cent .
Qrammrt.
6.720
3.404
25.000
iaooo
6.000
3.575
1.400
4.500
4.000
2.600
1.250
ThousandlXs
2
2
Thousandths.
22 5
21.0
3S.0
2<0
22 0
10.0
1A0
11 piece in s I
hundred, j
23.5
10.0
14.0
a Nickel. fc Copper. e Tin. * Zinc.
Article 4. In the first part of the sentence of article 9 of tho monetary law of 1901,
the words “on the reverse the indication of the value, 25 cents, 10 cents, and 5 cents,
shall be replaced by “on tho reverse, the indication of the value, 25 cents, 10 cents.”
Article 5. At tho foot of article 9 of the monetary law ol 1901 there shall be
inserted : .
Article 9, second . Tho type of the odd nickel coins is the following On the obverse
the royal crown and name of the country “Nederland” over a ribbon between two
branches of oak; below is the date On the revoreo they bear the indication of their
value, 5 cents, between two branches of orange tree. These pieces are coined with a
collar and have a smooth edge. . .
Article 6. Article 12 of the monetary law of 1901 shall beas follows: Thebuiyausfor the
exchange of the odd coins against rix-dollara, florins, and half-florins providing that the
amount offered is not less than 50 florins in silver or 10 florins in nickel or in bronze.
Article 7 The decisions of the Government demonetized the o-cent silver pieces
struck in execution of the law of November 26, 1901 These measures shall not bo
taken until after a delay of not less than three months shall have been given for the
exchange of these coins. With that demonetization the pieces remaining in circulation
lost the character of a medium of legal payment which was conferred upon them by
articles 5 and 12 of the n4°nel;ir>f 1901.
OontaoB and Currency of the Grand Duchy of Luxemburg for the Year 1907.
Answers to interrogations of January 2, 1908, relating to the same contained in a
quwi put it is necessary to give a short
eXrTTei0Gn^ Such is the principle laid
down in our constitution, although up to die present he has not availed himself o
hiTimver except in the striking of smaLl coins of 10. 5, and 2 J centimes. Those small
nieces aro current legal tender for ever}’ payment to the amount of o francs between
private jiereons. The government offices have to accept larger quuntiUea in pay-
m WoIdYntTti) the laws of 1852, 1854, 1864, I860, and 1870 thefe have been brought
into circulation in the Grand Duchy bronze moneys to the amount of 600,000 francs.
A law of December 29, 1900, authorized the wiUidrawnl of all bronze coins wilh tho
exception of the 24-centime pie008* ant* tho supplementing of the same to the amount
of 500 000 francs in nickel pieces of 10 and 5 centimes.
The Grand Duchy not having a mint of its own, tho making of these coins in 1870
and 1900 was effecUnl by the mint in Brussels. The rest have been furnished by
the managers of die mint at Paris.
Iu tho absence of gold and silver coins, currency has been given to the moneys
of tho Latin Union at their nominal value
German pieces which have been brought in on account of commercial and financial
relations are accepted at the rate of 1.25 francs to a mark Gold and silver pieces of
04472—08 - 15
226
REPORT DIRECTOR OF MINT.
uriJ niTr?r^mnT met 'iriih and only in solitary cases in our public treas-
bTlMQ Thn^P ^ H1 ¥1^onn* 11011 on legal tender it becomes necessary to add that
in 1839 the numerical value was in ITT* 77.
Tho l ▼ oml-.ii m t - J - . ^ T centimes oi a norm.
tinn lYift. f^ c not exli?t 11 w not represented in metallic circula¬
te moiitU nona*£valu®» 1110 unit adopted in commerce and public administration in
^^ TrS°fUle lCcountf Th<* value of the franc of tCe Gm^d Duch^ which
“ e^ht'te?Lhf of a German mark, or 80 pfennig. Except in the
na^mint^f^K00? VenUOn FtlPulatin? that the payment shall be made in francs the
ffil?™ ^ ^ tXeaf<ury are m^e 111 German money Finally, the free admiiion
°f?11T“r0nC>" lnt0 our co jUtry the same as in the countries of ongin
. J: ,lnIo™iatl011 reoexyed in regard to the use of gold and silver in the industrial
arts has shown that it is worthy of note that no rinS, bracelets, or chliiL
if pTh<? '“P?1™/?11 of this metal is hardly anything. Fine jewelry
is imported from France and ordinary jewelry from Germany me jewelry
that '%**'*£?* °f 801(1 a“d eilvcr insignificant;
-U.id ap, P C treasu°‘ ** n>miin ,he rame “““7 be
GoW^UfinUnfin, . .
German fold . do... 00,000
German silver do .. 8,000,000
. T . . . marks 700,000
U^uLtTsS^hiM i“POrttti<m of 8°,d “d sdver <*>”
oflw |^ioS7meU7 “° g°’d “d ’‘Uv<'r “d «>“equenUy no refine™.
mZh! *“"UIlt °/ f>,d and filver stored in the treasury', the banks, and in circulation
may approximately be estimated at 10,000,000 marks
* , u imvemment of the Grand Duchy does not wue bank notes. However
if IWlin n.°i5\k ^/^um h’Ulonal Hank, tho Hank of France, the Reich* Bank
at Berlin and the International Bank of Luxemburg are generally accented and in
our public treasuries at their gold value. The trea^ry ^ut^U^ceptand
gn embank notes. Pn\ate persons are not obliged to accept them in the public treaa-
linnff fi?anCVil at Luxemburg, under tho name of the Bank Interna¬
tionale, is only authorized to issue bank notes to bearer, guarantee being given for
repayment, the Bank Internationale should at all trim* change bauk^imtes ^
no^hfhfnlr^K f,a?ber .1° order to insure the exchange of the*e bank
,'hA]1 •Jvnays have at its disposal for this purpose to the amount of one-
third of the sum of all the bank notes in circulation, tbe^um of the bank notes in
CiZUnT Grand Du(h>' according to the0 report ofthe circulrf
tion in the stale treasuries ) may approximately be established as follows:
Rank of Franrr Frmnc*.
National Bonk . 230,000
Relchs Bank . *00,000
Internationals Bank 30,000.000
T . . . ,* . 3,000,000
wi h Sff2!?0i LWOVld *^d ,h,t " to lire increase in ihc wine of gold compnred
JurSbafo?** °f mctual exchan8* ,n ^ country, there has been no fluctuations for a
Legation* of the Exited States,
The Hague, August 4, 1908.
REPORT DIRECTOR OF MINT.
227
NEW ZEALAND.
Answer s to interrogatories, 1907.
(1» 2, and 3) Gold and silver coined during 1907 : There is no mint in New Zealand .
(4 and 5) Gold and silver used in industrial arts, during 1907: Not ascertained, but
insignificant
(6 and 7) Imports and exports of gold and silver during 1907, by countries:
Classification and country.
Imports.
Exports.
Quantity.
Value.
Quantity.
Value.
Gold specie:
Onncft.
£357,000
385,050
750
500
Onner*.
£1.900
81
1,770
Total .
753.300
3, 751
Gold bullion:
United Kingdom .
228.489
100,399
179.322
809,977
397.207
730,246
Vletnrlft .
Nevr South Wales .
Total . 1 .
508,210
2,027,484
Auriferous ore:
Tons.
35
98
1,117
450
1. 101
13,090
Victoria .
1.244
14,650
Silver specie :
10
2,800
2.000
2,000
675
220
705
2,800
8.374
3,565
Silvar bullion:
Ml
152
5,115
123
as
5S7
443, 189
49,288
83,190
1,096,224
8,820
111,370
5,128
733
1,502, 00S
189,484
J*and 9i 2^5^13) The Wort figures of gold and silver represent the output.
? L^rimate stock of gold and silver coin and bullion in the country’ at
the close of ^W7 f ^)nD®oember 31, 1907, the banks held gold and silver bullion to the
v»}ue of f f vemment notes issued in New Zealand.
a“d \l] NotS on banks of issue outstanding on December 31, 1907: £1,041,858.
(Se« answer to ^^the country: English money.
® P^Udiimon gold New Zealand has the gold standard.
(21) Prem,u“L?a in 1907 affecting the currency: None
(22) Jf^blishcd on operations of mint: No mint. Parliamentary' report of
American Comeuiat*^ ^pn/ f7_ I90S_
228 REPORT DIRECTOR OP MIST.
NORWAY.
Antvcm to interrogaloruM, 1907.
Of* 2ff??Rotg°?d 7“ performed during the year 1907.
& wU“ “ We— were
V P5to<'.utP<1 fof foreign government*
puZ^ZforZmn 7££&Z2r * a"y8Uld “d P'oyod for industrial
(— X^, *° °Ut— 1 »*- PW
From Sweden . . . Kroner.
From Denmark . . . * . . . 43
From Germany . ,”Z. . . 10
From France . . . * . . '" 73c
From United States . **’*”" 73
Total . . * 1
From Russia ( Baltic ports) . Kroner.
From Germany . . . . . . . «<
From Holland . . * 170
From BHginni . 3,-,,
From Great Britain and Ireland . 433
From France . ut
From China . -ZZZZ’ZZZZZZ . . ag
Total . . * _ !!!
Gold coin was. during the year, exported to the following amount
To England . . . . Kroner.
To France . . . . 4.47*40
To Germany . . . . 2.37 100
To other countries . . <00,300
Total . ZZZZZZ^ZZZZZ . — -8-1”
a. Slow?”* *nd 0IpOrt °f ’UvCT during 190T: ®iiver ( unmanufactured i waZnfZZ
From Sweden . Kroner.
From Denmark . ZZZZZZ . * . 230
From Germany . 657
From Great Britain and Ireland.' . . ■ *W.4H
Total . “
Coin and medals were imported to a total amount of 277.3S0 iZner.ZereofZ
From Sweden . Kroner.
From Denmark.. .. . . . . . - . j<j* J57
From Russia (Baltic pom)Z.’‘.'."!ZZZ . ISsiofil
From Germany . . . . . . 1 in
From Holland . * * . . * . . . jm
From Groat Britain and Ireland. . .’. . 747
From France . . 6*7
From Austria . . * wa
From Hungarr . ^
From United States of America. ,'ZZ.ZZ . So
On the other hand, unmanufactured silver 1 . ^
40,400 kroner and. respectively, 182,500 kroner and &500 l° * '^uc n{
exported to Sweden and Denmark. d ** 500 kroner oi B^r coin were
• An additional statement gives W46.000 kroner imported ^Swad® In gold coin. -
REPORT DIRECTOR OF MINT.
229
(8 and 9) No coined gold was imported daring the year to the realm from the United
States (vide as r>er No. 6).
(10) The production of native gold during 1907 is supposed to have been insignifi¬
cant. Statistics are not available on this point.
(11) The Kongsberg silver mines produced, from April 1, 1906. to March 31, 1907,
6,268 kilograms of fine silver. No other mince have, as far as it is known, been under
regular exploitation of any significance.
(12 and 13) Output of gold and silver from refineries of the country during 1907:
No reliable information is available on this point (vide as per No. 10). The produce
of the Kongsberg silver mines (mentioned under No. 11) brought in by sale 518,524.15
kroner
(14) Approximate stock of gold coin and bullion in the country at the close of the
calendar year 1907: The only information a\uilable on this point* is that at the expi¬
ration of 1907 the stock of gold of the "Norge’s Bank," deposited within the realm,
amounted to about 27,367,800 kroner. Besides this, the bank had claims to the amount
of about 3,531,000 kroner on the Copenhagen " National bank " and the ‘Riksbnnk”
of Sweden, and, moreover, about 17,552,900 kroner in values deposited with agents
abroad. The total stock of gold of the "Norge’s Bank" amounted, accordingly, on
December 31, 1907, to about 48,451,700 kroner. At this same date the quantity of
coined gold amounted to 17,117.120 kroner, whereof 2,430 kroner were called in as
depreciated by wear and other injury.
(15) Approximate stock of silver coin and bullion in the country at the dose of
the calendar year 1907: The only information available on this point is that, apart
from the above-mentioned 2-krone pieces, the value of silver coin in circulation
amounted to 11,407,564.20 kroner, whereof, on December 31, 1907, 1,222,370 kroner
were in deposit in the head office of the treasury.
(16 and 18) The government does not issue notes.
(17 and 19) Of the notes issued by the "Norge’s Bank " 73,483,100 kroner were in
circulation on December 31, 1907. The notes of the "Norge’s Bank" current on
December 31, 1907, represented an amount of 25,031,400 kroner in exce*of the metallic
substratum. . , , , .
(20) Actual currency of the country: Gold is at present the standard currency ol
TWiiim on eold: The monetary unit is 1 kroner, corresponding in point of
{Translation.]
Storthings Proposition No. 1. Principal Item X.
Chapter 6. Mint regulation at Kongsberg.
seal.
Haakon, [l. s.J
230
REPORT DIRECTOR OF MIST.
PANAMA
Omn or m Secrctart roa Forejgv Aftaim.
Pcmm, April U, 7VQ6.
Mr Mivott* Referring to the esteemed Dole of vtmr excellency of the 8th of
February tart. it jrivw me great (4wurr to trurait herewith the ininrmatioci ren¬
dered by hi* exceDeorv the secretary of the treasury regarding the matter mentioned
u mid Dote
“The Republic of Panama ha# no gold in rirrulatioa of national coinage
“The circulation of Panama silver 1# about the rum of 2.000.000 balboa#, of the
denomination.** of II. 10 50, 90.20, and 10 10. coined of the United State#
The nickels in circulation reach the ram erf 25.009 balboa*, a# f« tkwv 20,000
balboa* in denomination# of 2\ 100 of a balboa, and 5,000 balboa# in the denomination
of 11 100 of a balboa: also coined in the United State#
‘ It is not definitely known how mm h ie actually produced bv the producing mine#
of the Republic " * ^
1 again avail myself of the opportunity to I
consideration and deferential esteem.
i your excellency of my highest
To His Excellent y the Akeutax Minister
PARAGUAY.
Ricardo Arias
Pirn Mo vet pc CiarrmTiov pc Paraguay.
I From L E
The paper money in circulation according to the authorization bv the hr of Julv
14, 190S, amounted to 35,000 000 peer# That ram ha# been merged, by virtue of
the law of July 6. 1906, by the issue of new lulls to a value uf 4,850.632 pesos to meet
their expense#, as follows:
IWa
1 tj Um
Tot*! . . . . . 4.800. CC
The following table gives the amount of bills in ciirulatiuu during the last ten
yew:
v~ 'Sir
i
15
Pmm.
fas.
MB..... . .. IX TVS fR*
mbs. . . . . . s.rsioa*
BBL... 1X77* an
ISW . « B3A0BP
me a isw
NU0 . 1L3M.J2S
w« . ssacc
um . .. .. »8.*a,in
UM. . JR Nil .03
It may perhaps be of interest to give the value of the t&d with refaiinu to the paper
money. To that effect the table following gives the fluctuation# of exchange during
the last nine ytwr*:
Value or 100 Gold Pesos in P ate r Pesos ?rou 189S to t« sxn or 1906.
Y» JJET Vmb.
During the fitvt nine month# uf 1907 the rale of exchange has varied from 1,116 to
1,240 per cent.
REPORT DIRECTOR OF MINT.
231
The Gold Standard in Paraguay.
[From The Economist, London, January 25. 1008-1
The Board of Trade Journal of January 9 referring to the establishment of a new
bank at Asunciorf states that His Majesty's consul there (Mr. C. Gosling) reports
that for the present the bank will only place $0,000,000 cold in Asuncion, and
of this the Government may take a share of $2,000,000. The Dank will make a fresh
issue of paper, the old government issue, amounting to $30,000,000, being redeemable
by them at the rate of 10 paper dollars to the gold dollar. The Government is to
receive 10 per cent of the total profits of the bank, and this sum, together with the
export duty on hides, amounting perhaps to $300,000 paper, will bo devoted
to the amortization of the government emission. It is calculated thus that within
eight or ten years the whole of this issue will be called in, the intention being then to
place the country on a gold basis.
PERU.
Aiuturrt to interrogalorUt , 1907 .
-
(1) The coinage of gold during thc year 1907 was as follows:
DenomlnaUon.
Pieces.
Value (Peru¬
vian pounds).
123,150
130.47#
[ 204,007, #00
100, 3#2
t
*DuhriST«hfy^' kilopranu of gold have entered the mint and wore cornel,
as follows :
Foreign coins .
Ingots for dressing . .
Wrought silver .
Kilograms
. #51,081
. 078,013
. 52.003
of which the total value i.mgt JSft&tad 3L eeUbliehed
in'f^^rT^iu mri^l^auSoriaed the of a million and a half
3 thc bewg - ,Mom:
Denomination.
1‘leces.
Value
(In soles).
J dinero .
1,000,038
1.309,113
500.030
000,000
j 853,852.50
. 1 no coinage on account of other governments during thc year.
(3) There ® “in were bought and entered the mint with a gross weight
During 1907, 465 sd /standard of 993 marks), 88,329,470 of which the total value
om-feTOO&^ndatd,
in soles is 951,9/ 6 3M-
(4 and 51 No repo • rt q{ jd to peru w-as 609,206 Peruvian pounds in coin, with-
(6) In 1907 the uni denonijUation; no ingots or ores were imported The export
out any pounds in coin, and 1,298 Peruvian pounds in ore weighing 5,839
was 1 ,960 Peru\ iau 1
kilograms.. yoer there was no import of silver in its various forms. The
(7) During tjjo j>onJ^.jan pounds in coin, and 95,170 Peruvian pounds in iDgots
export was I,y^.pjghing 207,308 kilograms; 208,216 Peruvian pounds in ore. weigh-
fo$$S kilogram*.
‘ViSdi) No reply-
232
REPORT DIRECTOR OF MINT.
(10 and 11) Peru produced in 1907 the following quantity of monetary metals:
Odd: Kilograms fine.
To metallic conditions . 630 071
In veins and raw metallurglc products . . 144 122
Total . : . 774.193
Calculating the value of thin production at the price of our coined gold (136.574
pounds per kilogram) it is worth 105,735 Peruvian pounds.
Silver. Kilograms.
To metallic conditions . ; . 7 842. 773
In metallurglc products from lixiviation and smelting . 206^786. 009
In raw veins . * 82,917. coo
Total.
297,546. 442
Calculating in detail the value of this production at the rate of 4.370 pounds per
kilogram, the total value of it is 1,245,814 Peruvian pounds.
(12 and 13) No refineries exist in Peru.
(16, 17, 18, and 19) The consolidation law of June 12, 1899, recognized as a national
debt the total sum of the government notes, including those issued by banking insti¬
tutions whose responsibilitv the supreme government assumed.
According to that law the government notes have been converted into bonds of
the home debt, so that at present the government note has no value as currency, and
although, according to probable calculations, the conversion of the total amount has
not been reached, those which are not yet converted have no value whatever, because
the time fixed for their conversion has expired. This being the legal state of the
government note, for the purpose of the referred interrogatories, it is suilicient to
know that at present there are not any notes existing in Peru.
QUEENSLAND.
Ansurrs to interrogatories, 1907.
(1 and 2) There was no gold or silver coined in this State in 1907. There is no
mint in the State.
(3) No coinage executed for other governments.
(4 and 5) There is no information available to cover the weight of fine gold or fine
silver used in the industrial arts dining the year 1907.
(6 and 7) The imports and exports of gold and silver for the year 1907 were as follows:
REPORT DIRECTOR OF MINT.
233
234
REPORT DIRECTOR OF MINT.
(8) No gold coin was imported from the United States during the year 1907
Tl orP^° nDtf^Ll DltCd jStal1?. g old coin dePoeit^ at mint and melted during 1907-
There was no gold coined in this State in 1907. There is no mint in this StaSf *
ft°u®andfiv® hundred and nine kilograms of fine gold were produced
m f hT^ t of Qu<*n*land d«nng the year 1907, the value of which is $9 no
(11) Twenty -eight thousand six hundred and sixty-six kilograms fine of mjv<Tr xi-^1
goducecl from the mines of Queensland during the year 1907, the’ value of which is
d<ning*t^e yea^l907 D° 0,UpUt °f 8°Id OT si,V" froD1 refin0ri‘'9 >“ Queensland
ofieTirl907 ™^,°luS at K 880 297 8?nTment notw outstanding at the end
securities? 8°'d 00,11 **^ur^lb^^epo^ts in^tronmeiSd^'l^and'gattanjment
Ud7 “ld 19) Thero “» no bank ^ outstanding or issued by the banks of Queens-
QUefnSl“d W“hto °f *°ld- Bilwr' »“d bron*e coin and
S™ W" no on 8°ld at “V time during the year 1907
i-o. og
(-3) A copy of the report of the department of mini accompanies this report
American* Consular Agency,
Brisbane, July £7, 1908.
RUSSIA.
Ansurrt to intrrrogatorus, 1907.
No^lS^f °f 80,(1 CO‘ned durillg "t’endar year 1907, 545 rubles in 5-ruble pieces.
lyisn.Mc?’11' me,t0d ‘° '’a,Ue °f 5-4°7-50 n,b,os- ForeiP> KoW melted to value of
(2) Amount of silver coined during calendar year 1907:
Denomination.
1 Pieces.
Rubles.
1 ruble .
so kopecks (j
20 kopecks . .
15 kopecks . .
10 kopecks . .
. 1 400,209
. 200,009
■i ooo.ooi so
4,500,001. 35
etandt^aidl MMra'Z rubles, in pieces of 0.900
-tfU^ssaassa
(3) Coinage executed for other governments during 1907- None
stampin™atthe0nnntdinl1^7lgo1l<lllobierti an?J?‘'iT'ng }*>7: There’ were printed for
Tim Llcts
21 ^£5 SJind. SO SSnX^ “ ,h° miut tbo manu&tum'ef medals, etc., was.
mil ^Vi^MS^rihr^n T7: Th- p—ted the
pounds 63 zolotniks * c and cases weighing 7.385 poods 18
“ U>° manui*'t"™ <* medaU, eta., was 48 poods 38
REPORT DIRECTOR OF MINT.
235
(6 and 7) Exports and imports of gold and silver:
Items.
Poods.
Rubles.
Exports of gold:
Ingots .
581.8
12,256,000
Russian coins .
4.9
93,000
Foreign coins . . .
L3
26,000
Imports of gold:
Ingots .
mi
1,478,000
Russian coins . ... .
17.7
335,000
Foreign coins .
430,000
Exports of silver:
Ingots . . . . .
760. 1
629,000
Russian coins . . . . . .
11.9
7,000
Foreign coins...... . . . .
310.2
1W,000
Imports of silver.
Ingots . . . . . *
9,16010
6,382.000
53,000
Foreign coins. . . . . . - -
3,571.9
2,237,000
(8) The custom-house report for 1907 does not show that any United States gold
coin was imported. , . * *
(9) No United States gold coin was deposited or melted at the St. Petersburg mint
during the year 1907. _ „ .,n _ Aa
(10) In 1907 the amount of fine gold produced at the Russian mines was 2,450 poods
36 pounds, of which —
Items.
Poods.
Pounds.
.
1,759
25
564
126
22
29
(11) The weight of fine silver produced from the Russian mines in 1907 was 250
d0(13)' The output of fine diver from tho St. Petemburg mint in 1907 wa» 505 poods
37(14)mo£ Janu^ymitalM8d thTstook of gold coin end bullion in tho country was: In
n15Ln!farv7irUlbM8 silver coin and bullion in tho country was
32 462.783 mblc Zo Specks (0-W0 “tandard).
V1* auvi 10/17 won pnaal to 1,I|X).1W,UW IUU1OT, VI ioouv
the end of tne ye^r MO , .,(}0 oqq^ooO rubles, and tho reserve of notea, 104,900,000
notes at the 90b 000=1,155,100,000).
rubles (1,260,000,000 1®^J>o,l^ltanding not covered . The gold stock of the Imperial
There are no bank notes igQg equal to 1,161,000,000 rubles, whereas, at the
Bank of Russia of outstanding bank notes requiring to be covered (in acoord-
same time, the oi August 29, 1897) was equal to 855,100,000 rubles only,
ance with the mcmcwy reault 0f subtraction of the amount of bank notes which
this latter figure neii h the above-mentioned law require to be covered, namely,
do not in accordance tota| am0unt of outstanding bank notes — 1,155,100,000
300,000,000 leS8 30O.OOO equals S55,100,000). It will be seen fmm tho above
rubles PXcei*dcd tho outstanding notes, as in accord with the monetary
that the gold stoc 335^900,000 rubles. .
lawT, to the amouub there was in circulation the sum of 621,700,000 rubles in
(20) On JjwJJJfyublce in silver coin (0.900 standard), and 1,155,100,000 rubles in
gold, 119, 300, OW
bank notes. n0 .)remium either on gold ingots or gold coin in 1907.
(21) There waa ^,er0 passed in 1907 touching the monetary circulation.
(22) No neWrt ^ to tho operations of tho mint is published. *
(23) No repon
236
REPORT DIRECTOR OF MINT.
Note.— 1 pood is equivalent to 1G.38049G kilograms; I pood is equivalent to 10
Russian pounds; 1 pound is equivalent to 96 zolotniks; 1 zolotnik is equivalent to
9G dolcis.
American Embassy,
St. Petersburg , August 5, 1908.
SERVIA.
[Translation.]
Paper Money in Servla.
[From L’Economlsto F.uropeeu, Paris, October 23, 1908.]
The National Rank of Servia has been authorized to make a new issue of paper
money. In consequence, the circulation of paper money is found to be increased
by 10 per cent.
We recall to recollection that at the end of business for 1907 the metallic reserve
of the bank was composed of 14,105,842 dinars of gold, and 7,434,967 dinars of silver;
in addition they had a foreign holding of 3,439,753 dinars. The circulation of notes
resting upon their reserve amounted to 37,362,927 dinars.
SIAM.
Answers to interrogatories, 1907.
(1) Amount of gold coined during 1907: Nil.
(2) Amount of silver coined during 1907:
Items.
Pieces.
Ticals.
Ticala .
3,554,357
282,216
434,953
3,554,357
70,554
54,369
Sailings _
Fuangs . .
Total value .
3,679,280
) during 1907: No infor-
9? ^ total value, 62,112 ticals were coined from bar silver, 829,689 ticals from
British (Hongkong) and Mexican dollars, and the balance from older issue* of domestic
com.
(3) No coinage was executed for other governments during 1907.
(4 and o) Amount of gold and silver used in industrial arts durin
mat ion.
(6) Imports of gold during 1907:
Ticals.
Coin, from Singapore . 9-, 3SS
Bullion (all in the form of gold ioaii-H* . . '
From Hongkong . a aw 979
From the United kingdom .. . . . ' li’nOO
Ore, from China . . | ' ‘ ‘ . ic’oOO
There were no exports of gold.
(7) Imports of silver coin during 1907:
Ticals.
From Singapore . or’ 138
onfikong . * . ;;;;;;;;;;;; 2,o5, 732
From Hongkong...
From India. .
From Cochin-China
From China .
From Malay States
From Cambodia. .
573.405
56,991
306 222
1,517
11,539
Exports of silver coin during 1907:
To Singapore .
To Hongkong . .
To Cochin-China . . . - .
theSye!r 1907WCr° n° imporU of K°ld coin direct from the United States of America in
(9) United States gold coin deposited in mints uud melted during 1907: Nil.
Tioals.
301,275
1,332,514
292,800
REPORT DIRECTOR OF MINT.
237
(10 and 11) Gold and silver produced from mines of the country during 1907:
Weight of gold produced, approximately, 250 kilograms; this estimate is very rough,
as no ret urns are made to tho Government, no royalty being collected in Siam. Nosilver
is produced. .
(12 and 13) No gold or silver is refined in Siam.
(14 and 15) No information as to stock of gold coin and bullion in the country at the
cloee of 1907. The treasury held about 29,734 ticals’ worth of gold bullion.
No information as to stock of silver coin and bullion in the country' at tho close of
1907. The treasury held 20,704,270 ticals in coined silver 0.900 fine, besides 259,677
ticals in silver bullion. , . .
(16 and 18) Amount of government notes outstanding at the end ol the year lWf.
15, 164,435 ticate. Amount not covered by legal-tender gold and silver com or bullion,
5,7(17 and1 1?/ Bank notes are now almost entirely withdrawn; no definite figures are
°k(20) Actual currency of the country: Silver and convertible paper. The metallic
currency is on a gold basis, the exchange value of the tical being approximately one-
sixth of a shilling.
(21) Premium on gold: Not applicable.
(22) No laws were passed during 1907 affecting the currency. . . .
(23) No report is published of the operations of the mint nor of the department of
mines.
American Legation,
Bongbyh, May 15, 1908.
SOUTII AFRICA-TRE TRANSVAAL.
Answers to interrogatories , 1907.
(\ 2 and 3) Amount of gold and silver coined and coinage oxecuted for other
(1, 2, and j) Amoui k 1907; There is no mint in the Transvaal; the one
by Ac South African Republic ha. boon lying idle since the Unttah
pa/li0IV\ It in understood that a certain amount of current coinage is utilized in
(4 aud 5) 1 1 w undomoTO ^ information as to the amount of coinage so
the mdurtml arte of this co ^ laWfl o£ tho Transvaal do not require any return
?„ be madTon tgu ^in” It may be aaioly asserted that very httle gold u need m
the industrial arts. silver imiiorted and exported during 1907: Tho
(6 and 7) Amountof gol and8 5?3 g7| ($2,789,017 ON). There was no bullion
imports were, com (gold and Total exports of bullion were 7.397,106 ounces,
ofPcoin exponed wo, 1922,666.20. No
gold ore was exported states ld ooin ^d amount of United States gold
1907, was 200'?4J;°;,v^Soduced from mines of tho country dunng 190/ : No silver
(11) Amount of siUer pr^uic du- th<j ycar 1907 The total quantity
was produced direct ^ qq produced by the gold mines was 22,560.219 kilograms;
contained in the 8° / *45(5, 582. 42).
commercial » Lid or silver refineries in the Transvaal.
(12 and 13) ^he,L^n“logatock of gold and silver coin and bullion in the country
(14 and 1j) jar vear 1907: (a) The stock of gold and silver com and bul-
at tho dree »V„dC9 of tto S at thi end of 1»07 X3.430.632 ! ($16,770.07 .52)
lion in the hands ol hullion in the public treasury of the Transvaal and
at tho ci^v , banlcs at tho end 01 ioui wa
lion in the hands o th.^ ^ bullion in the public treasury' of the Transvaal and
(b) There is no ^ ttmounts separately that are in banks and circulation
itiflimpcjBiW®^^ JJe no govemment notes issued. There are no legal-tender
notes ^uedjnmo bank notes in circulation at the end of tho year 1907 was
£63.548 (»2«).243^)" tho country: £3,965,660 ($19,274,204.80).
(20) Actual curn " mium M c„mpiir,.d with tho actual currency of the country.
(21) Gold wnoi during 1907 affecting tho currency.
(22) No la™rt ^bfished on operations of mint (have no mint). The annual report
(23) No mining engineer for the ycar ending June 30, 1907, is forwarded
under another cover.
238
REPORT DIRECTOR OF MINT.
SOUTH AUSTRALIA.
Anrwera to inlerrogalorit $, 1907.
(I 2 and 3) Amount of gold and silver coined, or coinage executed for other gov¬
ernments during the calendar year 1907: No mint in South Australia^
(4 and 5) Amount of fine gold and fine silver used in industrial arts during 1907:
No record kept by manufacturer*.
(6 and 7) Imports and exports of gold and silver during 190/ .
Imports and Exports op Gold and Silver (Coin, Bullion, and Ore) during
the Year 1907.
Imports.
Exports.®
Quantity.
Value.
Quantity-.
Value.
Gold specie:
Ounces.
£5,000
30.000
275,000
Ounce*.
£30,000
10
10,000
Total . .
310.000
40,010
Gold bullion, bar, dust, Ingot, and sheets:
3
11
19
82
771
2,464
Total .
22
93
771
2.664
Gold In mottf
Nrw South Wales. . . .
2,5152
...»
Gold ores (concentrates).
United Kingdom . .
>18
»
Silver speck:
Victoria.. . .
200
500
Queensland . . ....
Western Australia .
300
38, 4M
United Kingdom . .
Total .
394 &4
Silver bar, Ingots, and sheets:
Ceylon. .
3,719,296
449.200
India . . . . .
561,643
72,460
Total . . .
4,270.939
541.6M
Silver (contained In matte;.- c
New South Wales. . .
6,919.179
628.227
SUver and silver-lead ore: e
New South Wales..
Unite/] Kingdom .
* 679, 220
138,083
*1,380
*2.23«
• 1,061
*21.679
Belgium .
1,173
w
Netherlands .
10,1X1
Total .
- iirn'm
*26,346
U.fS
<v7V,Z2J
Un.UvJ
— i rr-
Load (contained In matte): «
New South Wales .
*2,806,160
1,969,980
Spelter (concentrates );«
New South W ales .
*2,819,620
364,791
12,850
2.291
11,380
Tasmania .
United Kingdom.
*3.500
*1.710
9.058
*123.014
*177,901
*2,992,939
*£•2
Germany . . .
Belgium .
France .
Netherlands .
*589.966 !
* 491,073
lfci **
1#,c5
United States. ..
. : .
>»
*
Total .
*3,833,888
391,212
*4,374,953
The exports to the States of the Comnwowcdth *
* Hundredweight.
« PnrUtalljr (C whole of the* items were reexported.
REPORT DIRECTOR OF MINT.
239
(8) Total import of United States gold coin during 1907: Nil.
(9) Amount of United States gold coin deposited at mint and melted during 1907:
No mint in South Australia.
(10) Amount of gold produced from mines of the country during 1907, £36,602
(8,617 ounces, fine).
(11) Amount of silver produced from mines of the country during 1907: Nil.
(12 and 13) Output of gold and silver from refineries of the country during 1907:
No refineries.
(14) Approximate stock of gold coin and bullion in the country at the close of the
calendar year 1907: Treasury, £5,443; banks. £1,803,002; equals, £1,808,445.
(15) Approximate stock of silver coin and bullion in the country at the close of the
calendar year 1907: Treasury, £1,114; banks, £79,753; equals, £80,867
116 and 18) No government notes issued.
17 and 19) Amount of bank notes outstanding at the end of 1907, £523,996-
20) Actual currency of the country: Can not be stated
21) Gold was not at a premium during 1907.
22) No lawn were passed during 1907 affecting the currency.
23) No mint in South Australia.
Adelaide, June 5, 1908.
SPAIN.
Americas Legation,
Fumtrrrabw, July 20, 1908.
The Secretary of State,
Washington.
Sir: I have the honor to rej»ort a recent decree of the minister of hacienda affecting
the illegal silver coinage now in circulation. . .. ... ,
Fur many years there have been circulating in Spain alongside of the legal duroe
(5-poela piece*), many illegally i»ued silver “dure*." known « "dure,
because supposed to be manufactured in Seville. These coins are of a weight and
finencr* eqiiul to that of genuine coins, and the profit to the manufacturer
them consist* i ntheseignii jroge, i. e.. the difference between the face value of the coin
(5 ^tlTm'd SOISrSL of the silver therein contained, which u much 1«
SSMS coin. in circulation ho, been
appefroda rnyal order of the minister of
hacienda providing that: nrr¥M,nted at the Dank of Spain or at public offices
(1) All coins of illegal coinage preeenteu ai w *
»£*«*■ the 00,1 Jf meltio*
coins into silver bars. eilver bars thus obtained, and thus reimburse to itself
(3) The treasury shall sell tnc silver ua.
the amounts publish the main points of difference between the
(4) The mint shall determine an n bljo have due notice of the same
irh » kind for
tor they should bo illefld- . d|lced u„,o „n Saturday, the lSlh. an explanatory
The minister « •’WfSJfSSSd, and third provision, ..f the previous onto mil
had coined to date
“rh. minister of V, SonodoOflO of which were now held by the Itanlt of Spain Thu
1 jSSwEm* ■VJ'ir^wouu S. of course, include tho illegal •'sev.Uano nuuoa.
total amount of coinage
240
BE POET DIRECTOR OF MINT.
It is popularly supposed, and was recently stated in the senate, that a considerable
amount of the silver held by the Bank of Spain consists of “sevillano" coins.
In the criticisms of the Government’s order by prominent financiers, which have been
appearing in the press, there is an unanimous feeling that the proper method of dealing
with the alleged coinage is for all the existing i*ues of “duros ” legal and “eevillanos*
to be withdrawn from circulation and recoined at the expense of the state This
remedy, however, is now rejected by the minister of hacienda on account of its expense.
1 have the honor to be, sir, your obedient servant,
\\u. Miller Collier.
American Legation,
Fuentrrrabia, July i4, 1908
The Secretary or State,
Washington.
Sir: I have the honor to report that, with a view to allaying the popular resent¬
ment aroused by the royal order, the Government introduced in the Cortes on the
afternoon of the 20th instant a bill, which it is believed will soon become a law, the
main provisions of which are as follows:
(1) The Government is authorized to withdraw from circulation silver coins of
any year, whether legally or illegally issued.
(2) In the case of silver 5-pcseta pieces of illegal Lames, the Government -lull fix
a very short period during which they may be exchanged for coins of equal face value
and of legal coinage. Upon the expiration of the said period the existing regulations
respecting illegal currencv shall be strictly enforced.
(3) Thereafter public offices and the Bank of Spain, when illegal coins are tendered
to them, shall report the fact to the treasury, which shall investigate and publish
the points of difference distinguishing such coins.
(•4) The illegal silver coins withdrawn from circulation by virtue of this law shall
at once be melted down into bullion, which the Government may sell, and the differ¬
ence between the value of such bullion and the face value of the coins so withdrawn
shall be met by a supplementary chapter in the present and in future budgets
It will be seen that the proposed law constitutes a reversal of the Government’s
recent action, since in lieu of throwing upou the holders the luc*> resulting from with¬
drawal of the illegal “duros” it is now proposed that this loss shall be borne by the
State.
I have the honor to be, sir, your obedient servant,
Wm. Miller Collier.
American Legation,
Madnd, February *1, 1908.
Aruuxr* to interrogatories, 1907.
(1, 2, and 3) No gold was coined, no silver was coined or recoined, and no coinage
was executed for other governments during 1907.
(4 and 5) Amount of gold and silver used in industrial arts during 1907: Not known
(6) Import and export of gold during 1907:
IMPORTATION.
BEPOET DIRECTOB OF MINT.
241
There was no exportation of gold in bullion.
EXPORTATION.
Country.
Quantity according to
ll«—
Value according to
its-
Immediate
destina¬
tion.
Final des¬
tination.
Immediate
destina¬
tion.
Pesetas.
86,080
02,080
Final des¬
tination
Odd coin:
Fernando Po .
Grams.
26,000
19,400
Grams.
20,900
19,400
Pesetas
86,080
02,080
Fnvnrfl .
Total .
40,300
40,300
148,160
148,100
(7) Import and export of silver during 1907 :
IMPORTATION.
Country.
Quantity according to-
- Value according to—
The place
from last.
Its origin.
The place
It came
from last
Its origin.
Silver in bullion:
Grams.
Orams.
30,000
657.000
24,706,000
8,000
Pesetas.
3,302,130
Pesetas.
.1,900
85,410
3,211.780
1,040
25,401.000
25,401,000
) 3,302,130
3,302,130
8llver coin:
Spain .
Canary Islands .
Fernando Po .
Colombia .
. ii',m
49,525
16, KS
5,275,000
7,350
117,500
1,750,000
02,250
7,311,820
. 3, 4TO
9,905
3,229
1,055,000
1,470
23,500
350, 000
12,450
1,462,304
17,050
7,311,820
7,311,820
1,462,364 |
1,462,364
WVOADT A TTftK.
exportation.
Quantity according to its—
Final desti¬
nation.
Immediate
Final ds*-
* Country.
Immediate
destination.
destina¬
tion.
tinatlon.
Silver in bullion: .
France . ■ ■ . . .
Great Britain . .
Grams.
107,867,600
1,008,000
100,000
Grams.
107,867,600
1,668,000
100,000
Pesetas.
14,022,788
216,840
13,000
Pesetas.
14,022,788
216,840
13,000
Italy .
109,635,600
109,635.000
14,252.628
811 ver coin: .
Fernando . .
. . ;;;; .
Algiers . . . .
Cuba . • .
France. . . . '
PoSugai
Total . ” _ — -
1,362,600
317,000
2,391,000
612,500
2,000
4,700
3,100
4,602,900
1,362,600
317.000
2,391,000
612.500
2,000
4,700
3,100
4,692.900
272,520
63.400
478,200
122,500
400
940
620
938,560
272,520
03,400
478,300
122,500
400
940
020
93S.5S0
04472 — OS 10 •
242
REPORT DIRECTOR OF MINT.
(8 and 9) Import of United State* gold coin and United States gold coin deposited
at mint and molted during 1907: None.
( 10 and 12) No gold was produced in Spain in 1907.
(11 and 13) The silver produced in Spain in 1907 amounted to 127.435 kilograms.
Its value at the mines was 14,204,862 pesetas. Of this production 7,010 kilograms
tame from the silver mines Iliendelaencia (Guadalajara), the balance from argentif¬
erous had mines in the provinces of Cordoba. Guipuzcoa, Murcia, and Jaen. From
the Spanish |x*Bcflsioiis in Africa no production of diver is reported.
(14 ) Approximate stock of gold com and bullion in the country at tho close of the
calendar year 1907: Gold does not circulate in the country, owing to the fact that
it is at a premium over silver and bank notes. The Bank of Spain keeps in reserv e,
as a guarantee for its notes, 400,841,802.84 pesetas in gold and 52,963, 190.24 pesetas
belonging to the public treasury. Tho other banks have this metal only in amounts
of trifling importance.
(15) Approximate stock of silver coin and bullion in the country at the close of the
calendar vear 1907: The silver which circulates in the country in money (coin) and
in bare, dereisited as guarantee^ amounts approximately to 900,000,000 pesetas, of
which the Bank of Spain keeps in its vaults as a guarantee of the notes it has issued
641,986,343.95 pesetas.
(16 and 18) No paper money has been issued by the Government.
(17 and 19) Bank notes outstanding at the end of tho year 1907: 1,556,070,500
pesetas, issued by the Bank of Spain, which alone has authority to iwue notes. The
amount of bank notes in circulation exceeds by 513,242,353.21 pesetas the metallic
reserves (gold and silver), but tho securities on deposit more than cover this amount,
(20) Actual currency of the country: Over 2.900,000,000 pesetas.
(21) Premium on gold during 1907: Tho highest was 14.75 per cent, the lowest 7
per cent, and the avenge 10-80 per cent.
(22) Laws pawed during 1907 affecting tho currency: None.
(23) No report of the mint has been published.
STRAITS SETTLEMENTS.
Answers to interrogatories, 1907.
(1) No gold coined during the vear 1907.
Silver coined during the year 1907, 10,767,000 new Straits dollars, valued at
510,767,000; all recoined from old Straits dollars and reminted at English mints
(3) ( (image executed for other governments during 1907: No mint in this colony.
aad Amount of gold and silver, new and old. used in industrial arts during
190< : Both gold and silver coin and bullion arc used in the industrial arts and no
statistics whatever are kept of tho amount; hence it is impossible to answer tho
question.
(6) Import and export of gold during 1907: There was imported gold bullion to the
amount of $0^08,211; gold com. $4,525,145. Exported, gold bullion, $2,255,849;
gold coin, $2,093,141. Weight of bullion not obtainable Practically all the trans¬
actions m gold bullion and coins were between Hongkong, India, and Great Britain
and a large amount of the gold given as bullion was gold leaf
and^CXI25 ®L-Sjyr du,riI1P 19°7: There was imported in silver coins,
v C,X,*1; |191,49o’5G4- The coinage of the Straits dollar is responsible
tor the inoNcment of so large an amount of silver coin. Outside of exports and im-
tW thu mo'’emcnTt silTver waH larVol>' fur lrado purposes between
^uixitra, aSd HonRkong> Ind,a- Java> British North Borne!., fiutch Borneo,
im?2rS?d fr?n\,he Vnit^ State* during the calendar year 1907,
mo u r 1 r K°ltl d<TTlUHi a> 010 and melted during tho year 1907
(10 atid 11) Gold produced from the mines of the colony during the vear 1907:
The production of gold in the I .“derated Malay States during the vear was 435 645
ki!(«rai1^ St** at £5?>49?; No «lver mines In thecolon^ Y *
th^colony13 °UtPUt °f 80 W ftUd “llVer from refinoriefl dun>n8 1W: No refineries in
file 470 “'onhi^am.ri 4? ,"*■» « ,h“ •» ‘he y«r 1907,
Mam, -by, hr bank,. 4m wM “d ““
*2k,KX6.7M, m l,“l,'wI:TopSbUcb(!JojSi,i 273O240ainb° «&*" T'7’
circulation, $16,508,875, all coins. ’ *10,273>240, ln banks, $2,104,666; and in
REPORT DIRECTOR OF MINT.
243
ita issue. Amount of government notes oustanding not covered by legal-tender gold
and silver coin or bullion, at the end of the year 1907, $7,672,341, covered by invest¬
ments.
(17 and 19) Bank notes outstanding at the end of the year 1907, $1,716,125 as fol¬
lows: Chartered Bank of India, Australia, and China, $1,532,353; Hongkong and
Shanghai Banking Corporation, $183,771. This is covered by securities held in Lon¬
don by the crown agents and not by legal-tender gold and silver coin and bullion.
(20) Actual currency of the country: Silver coins. The value of the dollar having
been fixed by the Government at 2s. 4d. ($0.567758 J) on January 29, 1908, which
has since been maintained.
(21) Premium on gold: The highest rate at which Singapore banks sold on New
York last year was $0.57; the lowest, $0.55}, and the average, $0.56$. The highest
on London was 2s. 4$d., lowest, 2s. 3.{),d , and the average, 2a. 4.!^-
(22) There was no legislation during the year 1907 affecting the coinage, issue, or
legal-tender character of the metallic or paper currency.
(23) No report published on operations 01 mint. No mint in tho colony.
American Consular Service,
Singapore , Mav 9 , 1908.
SWEDEN.
Answers to interrogatories, 1907.
11 No gold was coined at the royal mint, neither was any old gold coin melted.
2) During the same year the following amounts of silver were coined:
81
Denomination.
Pieces.
Value.
2-crowns . . . . . . .
551,573
733.128
310,484
1,217, 530
3,053.750
Crown*.
1,103,140
733.128
150,743
304. 384
305,375
Total . .
6, 476, 471
2,065,775
During the year the following amounts of worn and mutilated Swedish silver coins
were melted :
2-erowns. . .
1 -crown . . .
KWr« .
2Wre .
IO-flre .
Crowns.
1.24a 00
4,333.00
2, 407.50
2G.10S.25
15, ana 70
40,353. 45
ffand M ofS iSdTnTs'.llio kilogram* of fine nil ver was
be«UtedSWne£ iS.^blet^owmSfh of .hi- was old gold and oli ailver or
Sports of gold d-ring '907:
Import.
Export
(weight).
Weight.
Value.
Kilogram*
. 748
3
328
Crown*.
5,003,707
Kilogram*.
sii
Denomination.
Gold coin .
Unwroueht gold..
~No import or export of gold ore baa taken place in 1607.
44 report director of mint.
(7) Iniimrtfl and export* of irilver during 1907:
Daactlptioo.
Import.
Export
Wright
Value.
Silver coin.. .
kUofranu
0#r*i,
kUnfframt.
Scrap silver
tN ruiijelit silver
11,411
M
103. ft*.
4.400
29.S
330
No import or export of oilvor ore in 1907
(8 and 9) No import of gold coin from the United Stat<* in lflfr •
fr°nn!hn l'”,UHiiJiiaoo<,l1T.,HH‘n at ‘In* mint for nielli uij ’ * *° d °°,n
siiden h«nno “onf« <*ram* p>ld produced ,rom ** ">ine* of Sweden.
(H) The approxunato slock of gold and silver in Sweden at tin. (low of the year 1907:
OoM ooln itmek In Sweden since U»o Introduction of the coin reform of lS7j .
<5oM (Scandinavian) coin hrl«l |»r banks at rime of i«ir
Hold coin in circulation at close of Iwi7 43, 900. nun
_ . . . 12, 000, 000
Iuur ir
^or.uvoUw.,. D«.haa.,«. 15^5
(IS) The stock of stiver in coin and bullion, at (ho same date, may be animated thus :
In circulation . Crown*.
In tho banks and the mini 37.(100.00)
In mint (*Uv«r bullion, etc ). . . . 1,00) oun
. . 400.000
Total
M6 and 18) The Government inui* no note*.
31,000.000
to 1.1.0 tnu,unt “» '“eluded the la.uk none which UieRiks'unk ientiiled
American Legation,
Stockholm , September tS, 190$.
TASMANIA.
-4/un/rri to inUrrogatorie*. 1907.
(J» 2. and 3) No mint in thin State.
(4 and 5) Amount of gold and nilvor used in indueirial art* ion- v
<Hnd“?,$',qU<mti'ii?' bu‘ l’m,,abl>- insiknificam g J9°' : No rao‘‘u''
the “mnmnwJSuT ^ *“ ,,npor“-1- «™P' transfer, from other State of
at mint* and mcllod :°Notany ,^**‘** B°'d * “d ^ «»« coin deposited
BEPORT DIRECTOR of mint.
245
the Suite of Tasmania during^ y™ "1t* for
Metal
Quantity.
Value.
Oolda . . .
S3 JV5 252
. . loos .
' *:7<0»
£277, fi07
572,500
• Fine sold, including gold conutned In Ulster coppc, „„ circle, talltaL -
(12 and 13) leuuvricn.
(14 and 15) Stock of coin and bullion in the countrv i. .
aunplied bv the banka, and the amount held by them rtthecta^lSw •£’ t744 7W
nSn tS'' approximately estimates the amoun fTlWiTUttod^
at £850,000 The amount of stiver eoin is included in thtee funin- and them i« no
“iTniTand ijrsssr* 0,6 il<r «* .XT' 1 no
1 ( lb’ i vis? , 19) TVe n.ote currency in entirely what is issued by the banks At ihp
close of 190/ the notes m circulation totaled £161 016 * At lhe
(20) The actual currency of the country is pol’d, silver, and bank notes circulating
at a parity with gold. The unit is the pound sterling circulating
(21) Gold is not at a premium.
(22 and 23) No state laws have been passed affecting the coinage and issue of metallic
AuS^l7anmCon^onltlS'.lDage * “ Under “* »f *•
Ail e rica x Consulate,
Hobart , July 31, 1908.
AUSTRALIAN COINAGE.
Profits for Commonwealth.
[From Hobart Menu ry, June 13. 1 90S. ]
Among the important matters brought before the imperial cabinet by the prime
minister (Mr. Deakin) last year, says tne Argus, was the question of coining silver for
Australia. Hitherto the royal mint has supplied Australia with silver coin and has
received all the profit on it. The prime minister asked for some new arrangement
which would enable Australia to receive the profit on the coins issued for use in the
Commonwealth This profit is large, though it varies according to the price of silver,
being greatest when silver is lowest in price.
Canada has had a subsidiary coinage of its own for some years. It pays the royal
mint 3 per cent for the cost of minting the coin. Until January 1 of this year the
coining was done in England, but since that date it has been done at a branch of the
royal mint in Ottawa.
Mr. Deakin wished last year to obtain some similar concessions. At the conference
Mr. Asquith offered the whole business to the Commonwealth. He said to Mr. Deakin,
“If you like to coin for yourselves we can offer you that.” The prime minister
obtained estimates of the cost of establishing an Australian mint, and decided that for
the present at least he would not embark on that undertaking. He accordingly, alter
bis return to Australia, communicated with the chancellor of the exchequer, asking on
what terms the royal mint would mint a coinage for Australia. Replies were received
that they would charge the bare cost of the work, which would amount to about 2* to J
per cent. The next question was the rate at which the imperial authonUes would
aftree to withdraw the existing coinage. After a good deal of corres|>ondcnce
authorities declined to allow’ more than £100,000 a year to be withdrawn. .
These terms it was decided to accept, provided that it was appro\ed by ,
and the treasury officials were instructed by Mr. Deakin to prepare afu
qy*lion. In this report the total value of the coin in be
£2,000,000. It will be seen, therefore, that at the rate 1 .fhorities calculate
twenty years before the whole issue was withdrawn. The in>nt , Lj ^ £41 46|
the average annual issue of new coin at £76,480. The p ^ue 0[ xll|706;
But an average amount of worn coin ,fl withdrawn even >isr , . ,.or nt
that ■ ■ * . — ■
•oin is withdrawn every yewto tne value « — -
>»at give, an actual iraue of £04. 771, and the profit on tb “ 7 "XluTd at 10 per
On the £11,700 worth of coin withdrawn there in, ‘ j|„. withdrawal of
which comes to £1,170, leaving a net profit of £3 • • vuttralian cur-
*100,000 per annum, however, will mean the coinage of £100,000 oi Aumuau
246
REPOBT DIRECTOR OF MINT.
rency, and that will coet Australia about £3,000, while the cost of coining the natural
demand will be nearly £2,000 more. This total coet of £5,000 must be subtracted from
the net profit, leaving £26,945 clear profit to Australia.
It must be remembered that the population and the trade of Australia will increase
during the next twenty years, and so the demand for silver coin will increase. On all
this the Commonwealth will receive a profit of from 35 to 50 per cent, according to the
price of silver.
Consideration of the question in Australia has been hampered by the cry for a
decimal coinage, and this was one of the reasons which actuated the prime minister
in deciding not to have an Australian mint. It was admitted at the imperial confer¬
ence, however, that the overseas dominions would be doing an unwise thing if they
rushed into a decimal system of coinage before the mother country.
llad Mr. Deakin been able to deal with this coinage question himself, it is probable
that a bill authorizing the new proposals would have been passed by Parliament
during the session just closed. But the treasurer (Sir William Lyne) heard of the
matter and sent for the papers. For some weeks he has had charge of the whole ques¬
tion. Coinage and currency are two of the many financial subjects connected with the
treasury which he does not readily grasp, and the whole proposition is accordingly
hung up. This means that until tne treasurer either decides to go on with the matter
or allows somebody who understands it to deal with it, the Commonwealth will prac¬
tically be losing £26,000 a year.
TURKEY.
Answers to interrogatories, 1907.
N. B.— Only those questions to which answere can be given are mentioned in this
report.
(1) Gold coined in 1907:
500-piaster pieces.
250-plaster pieces.
100-piaster nieces.
50-piaster pieces. .
25-piastcr pieces. .
Piasters.*
17,101,000
2.345.500
105,014, 100
2,400,000
2.702.500
Total .
Ornamental pieces:
500-plaster pieces.
250-piaster pieces.
100-piaster pieces.
50- piaster pieces.
25-piaster pieces.
12J-piaster pieces.
Total .
There have been melted 1,810,950 pounds sterling, 547,800 roubles, 129,500 marks,
470,000 francs, and $3,400 United States twenty-dollar pieces. (See answer to No. 9.)
(2) Silver coined in 1907:
Piasters.
10-piaster pieces . 3,470,000
6-plaster pieces . . 20,650,000
2-piaster pieces . 4, (*», 000
1-plaster pieces . # . 1,430,000
Total
30,110,000
There have been melted 4,580,526 piasters of native fractional worn currency and
14,090,000 of mediidies (20-piaster pieces). There have also been melted 77,406
dollars and 132,060 Maria Theresa thalera. There has been no foreign coinage.
(3) No coinage has been executed for foreign countries.
(4 and 5) Gold and silver used for industrial purposes during 1907: The total amount
of metal used is unknown. The weight of articles presented at the imperial mint to
be stamped was 3, 945,870 kilograms.
(9) Amount of United States gold coin deposited at mint and melted during 1907,
170 twenty-dollar pieces.
(10) There are no gold mhies in operation; the amount of gold found mixed with
silver extracted from the mines of the country was only 6,719 kilograms.
(Ill The weight of silver produced is 2,094,887 kilograms; the price at which this
metal was sold is unknown.
• 1 plaster equals 10.044.
REPORT DIRECTOR OF MINT.
247
(12 and 13) There is no refinery except at the mint ; the gold output of this refinery
is indicated above. This is also the case as to silver. r y
(14) The country s stock of native gold coin can be estimated at over 30 000 000
Turkish pounds (1 Turkish pound equals 100 piasters). Foreign gold coins kxist in
very small quantities. There are no data as to the bullion in the country’
(15) The country’s stock of native silver coin is from 0,000,000 to 6,500,000 Turkish
pounds. There is no foreign silver coin. The amount of silver bullion is unknown.
(16 and 18) There are no government notes in the country’.
(17 and 19) Bank notes of the Imperial Ottoman Bank in circulation, about 1,270,000
Turkish pounds.
(21) Tne variation of the price of gold very closely follows the variation of the
European markets.
(22 1 Laws passed during 1907 affecting the currency: On May 26, 1907, it was ordered
that the worn 20-piaster pieces should be withdrawn from circulation and replaced by
5 and 10 piaster pieces, coined from the metal furnished by the melting of these
20-piaster pieces.
(23) Report of mint published during 1907: There is only one table giving the
coinage of different years, but this has not yet been completed Application has been
made to the department of mines for their report, but it has not yet been furnished.
Americas Embassy,
Constantinople, May 8 , 1908.
UNITED STATES OF VENEZUELA.
(Ministry of the treasury.)
Importation of Gold and Silver during the Year 1907.
•
Gold ooln.
Manufactured silver.
country from which Imported.
Weight
Value.
Weight
Value.
Kilograms.
57
Boluars.
156,000
Kilograms.
12
BUirmrs.
300
England .
67
156 000
1 B
300
. .. 1007
Exportation of
Gold and Silver durlno the Year 190,
Gold coin.
Country to which exported.
Weight. Value.
Germany.
Spain .
Lnlted States.
France .
Enriaud .
ItalyT .
Total..
Gold bars.
Gold dust
Weight
Value.
Weight
Value.
Bolivars.
2,000
Kilogram.
4.950
Bolivars.
13,340
■g.I:5
39l 757
15,680
97,143
2.600
160.460 453,489
Gold scraps.
Weight.
Value.
Kilos.
Bolivars.
Germany .
4.000
3,000
8pain .
tnlted States...
'3,000
France . .
' ‘i'soo
Italy....'..':
Total .
7.500
6.000
Smelted gold.
Weight
Gold amalgam.
Silver bars.
Kilo*-
. 9,*2io.o6
770,303.00
602,403 36
Weight
Ktlot.
3.400
3.400
4,000
248 REPORT DIRECTOR OF MINT.
VICTORIAN BANKING RETURNS.
[From the Australasian Insurance and Banking Record, July 21, 1906.]
Notes in Circulation.
Following i» a statement of notes in circulation in 1907 :
March quarter .
June quarter . ” .
September quarter. ‘**‘][*‘*[” * .
December quarter . ”!”!!!! .
Total .
# . . MO
Coin and Bullion.
£930,610
011.003
844.010
886,357
follow*1 ‘,mOUDt 0fCOin and bullion hcld b>’ eleven banka during 1907 ia elated
March quarter _
June quarter
September quarter .
D<xumbcr quarter. .
Total.
£6,964,956
7,337,967
7,795,560
8.043,780
30,142,292
Stock of Gold held by the Principal Edeopean Banes op Issue 1906-7.
t Vrarci Uip Australasian Injurant and Benito* Record, February 20. 1908 ]
Name of bonk.
England .
Gennanya . * . .
France . .
Russia.. . . -•
Balance abroad ... V
Austria- 1 1 ungary
Foreign gold Whs.'.'.
Italy (three issue banks) .
Foreign bills .
Holland, .
t Foreign biiis ;;;;;;; .
Belgium a . .
Foreign bins”;;;;;;; .
Spain . .
Foreign bills .
£29,064,478
33,250,850
106,229.000
87, 706,000
30,046.000
46,344.920
2,500,000
36,821.000
3,320,000
5,536.500
570,370
5,027.000
5. 480.250
15,240.000
3,555,353
£30,745,846
35,206.93)
107, 047, 471
94,679.000
26,576.000
45,808.000
2,500,000
44,920. 000
2,645,000
7,316.000
701,818
5,423.000
4,371.240
15,600,000
2, 550, 0U0
° Gold and silver.
REPORT DIRECTOR OP MINT.
249
Situation of the Principal Banes of Issue on December 31, 1907.
[ From the Bulletin do SUtlstlque, Paris, February, 1908.]
Names of bank.
Metallic
reserve.
Composition of the reserve.
Gold.
Silver.
Franc*.
621,900,000
Franc*.
258,300,000
1,154,400.000
106,700,000
27,700,000
99,800,000
391,400,000
25,400,000
2,690,900,000
295,500,000
26,600,000
14,600,000
642,000,000
1,800,000
924,400,000
896,300,000
181,200.000
49, 100,000
43,300,000
192,800,000
28,400,000
96,900,000
768,600,000
125,300.000
15,800,000
2,800,000
115,100,000
27,000,000
900,000
2,528.500,000
14,300.000
98,500,000
75,500.000
56,500,000
KJcn *-i*
18 188
88 111
Bills payable
to bearer in
circulation.
Germany:
Imperial bank .
Private banks.. .
Bank of Austria-Hungary .
National Bank of Belgium .
National Bank of Bulgaria .
National Bank of Denmark .
Bank of Spain .
Bank of Finland .
Bank of France .
National Bank of Greece .
Italy:
Bank of Italy .
Bank of Naples .
Bank of Sicily .
Bank of Norway .
Bank of the Netherlands .
Bank of Portugal .
National Bank of Roumanla .
United Kingdom:
Bank of England .
Banks of Scotland .
Banks of Ireland .
Imperial Bank of Russia .
National Bonk of Servla .
Royal Bank of Sweden .
Switzerland:
National Bank .
Banks of Issue .
Imperial Ottoman Bank® .
Associated banks of New York .
Bank of Japan .
Bank of Algeria .
Franc *.
880.200,000
75,200.000
1,440,900,000
133,300,000
42,300,000
99,800,000
1,033,400,000
27,200.000
3,015,300.000
3,300,000
1,021,000,000
197, 000. 000
51,900,000
43,300,000
307,900.000
55,400.000
97,800,000
768,000.000
15S.500.000
95,700.000
2,673,000.000
21,000,000
103,000,000
81,400,000
59,400,000
63,000,000
977,100,000
448.200.000
48,400,000
Franc*.
2,357,400,000
176,200,000
2, 129,400,000
798,200,000
53,200.000
172,300,000
1,556, 100,000
95.000.000
4,800,600,000
135,000,000
1,411,600.000
360,300,000
77,000.001)
102,900,000
572,200,000
396,300,000
281,600,000
737,800,000
193,200.000
178,800,000
3,111,200,000
39.900.000
266, 100,000
159,200,000
128,600,000
29,600,000
372,800,000
937,000,000
130,400,000
a Situation on October 31.
numbpr of bonks do not furnish with their periodical balance sheets the composition
of^^^Mv-or that of their stock of indigenous and foreign bills.
250
REPORT DIEECTOB OF MUfT.
Situation or the Principal Banks or Issue on June 30, 1907.
I From the Bulletin dr Statist ique. Parts, Aiignst, 1907 ]
Name of bank.
Metallic re-
Analyses of the reserve. o
serve.
Gold.
Silver.
6s.
I
II
Franc t.
1,03*. 400,000
73, 000.000
1,459, 1 OP. 000
117.900,000
Fmncs.
Franca.
Bank of Austria-Hungary .
National Bank of Belgium .
l.i 44, 700,000
31 4,' 400,7a)
National Bank of Denmark
44, 0TB, tt»
133, 600,000
29,700,000
133,000, 000
388,700. 000
14.300,000
Bonk of Finland .
1,035. 600, 000
29, 100, 000
646.900,000
1.300.000
Bank of France .
S, 754,' 700j 000
O Vv, /gw.
National Bank of Greece .
3, £00.’ 000
A * WO. (JUO
992, 400,000
Italy.
Bank of Italy .
851,900.000
179, 100 000
*« 1 (V) AU,
118.800,000
15,300.0a)
2.500,000
Bank of Naples .
<». 1UI, uuu
Bank of Sicily .
4fl! 90oio00
43,400.000
1G3, 800,000
Bank of Norway .
43,'ab' 000
135.700,000
Bank of the Netherlands.
Bank of Portugal . .
2*0, 400,000
00, 000, 000
144.700.000
National Bank of Roumania. .
siiooo.'ouo
888.000,000
164. 400,000
8b, 900 an
79] 400,’ OUO
wv
35,700.000
United Kingdom:
Bank of England .
i,ood, an
Banks of Scotland ^ .
Banks of Ireland t> .
««, cwj, mu
.
State Bank of Russia .
National Bank of Serria. .
2,091, 7a/ 000
22, 000.000
110, 000,000
2,615 an, ooo
1 T C/91 .w » .
1*70. £00. 000
8, £00, 000
6,700,000
Royal Bank of Sweden .
*•>. Wj, IrJU
Irii Ifgt /(■ |
Switzerland:
National Bank .
11H, JUU. UUU
31,000,000
Banks of issue .
•VJ, l HI, WIJ
8H.W0 000
A 700. 000
3.900,000
Imperial Ottoman Bank «.
Associated banks of New York .
Bank of Japan 4 _
54,400.000
1,044. 200,000
37V. 300. 000
51,000.000
W, 900. 000
Bank of Algeria.. .
Bills parable
tn txwrr in
circulation.
Fnnct.
2,101 .ooo, 000
176, 700, 000
714. 500,000
49.900.000
1 HI 400,000
1,524.900.000
110,200,000
1,365,700.000
350, 700,000
113,700,000
543,100.000
205,000,000
730,300.000
200,600 000
170.200.000
3,020.800.000
31,600,000
272,200.000
57,600,000
190.000.u00
29,300,000
202. It*). OOO
WO, 300. 000
121,100.000
**“*“*>■• »' >"•
e Situation on April JO.
<f Situation on June 22.
BEPOBT DIBECTOB OF MINT. 251
Situation of the Principal Banks of Issue on September 30, 1907.
Nam e of bank.
Germany:
Imperial Bank .
Private banks .
k of Austnarllungary
J Bank of Belgium . . .
I Bank of Bulgaria. ..
1 Hank of Denmark . .
wank of Spain .
Bank of Fiuland .
Bank of France .
National Bank of Greece _
Bank o
k of Italy...
Bank of Naples. .
k of Sicily . .
Bank of Blclly .
Bank of Norway .
Bank of the Netherlands .
Bank of Portugul . .
National Bank of Roumania. . . .
United Kingdom-
Bank of England .
Banks of Scotland & .
Banks of Ireland * .
State Bank of Russia .
National BankofServia .
Royal Bank of Sweden .
Switzerland'
National Bank. .
Banks of issue .
Imperial Ottoman Bank c .
Associated banks of New York.
Bonk of Japan .
Bank of Algeria .
Franc*.
921,200,000
73,900,000
1,443.500,000
117,000 000
41,100,000
122.700,000
1,033, W0. 000
30,300.000
3,751,300. 000
4. 400,000
928. 100,000
188,300.000
49.200.000
43,400.000
287.300.000
60.600.000
90.300,000
969,200.000
1 4G, 200, 000
88, 000,000
2,707.200.000
22,400.000
111,900,000
60,800.000
72,900.000
82,000,000
1,033. 800,000
376,200,000
39,600.000
Analyses of the reserve.*
Bills payable
Gold.
Sliver.
to Imirer in
circulation.
Franc*.
Franc*.
Franc*
2 280 000 000
' 1S5 too' OOP
1,139,600.000
303.900,000
2, 102,000,' 000
727.200.000
28,300,000
122,700,000
388,800,000
28,900,000
2,787.900.000
806.000,000
173,000,000
46.700,000
43.400.000
152,300.000
28,300.000
89,900,000
969,300.000
127,200.000
78,500.000
2,552.800.000
15,000.000
107, 100,000
55. 800,000
69,800.000
645,000,000
1 . 400. 000
963,400,000
122,100.000
15. 300.000
2,500,000
135,000,000
32.300,000
400,000
19,000.000
10.500.000
154.400.000
7.400.000
4,800,000
5,000.000
3,100.000
02.200,000
168. 400.000
1,554.800,000
97,400,000
4,685,500.000
137,100,000
1,365.300.000
362. 500. 000
79,700.000
108.900.000
647,300,000
888.500,000
310,300,000
729,500,000
177. 700, 000
160,300,000
3,342.700,000
41,000.000
290,600.000
97,600.000
158,700,000
29,700,000
263,100.000
834,300.000
144,200.000
a A certain number of banks do not furnish In their periodical balance sheets the composition of the
miorve in gold and silver nor that of the indigenous and foreign hills.
«> Situation on August 24.
'Situation on July 31.
252 BEPOBT DIBECTOB OP MINT.
Situation of tub Principal Banks of Jrruf on Marin 81, 1908.
[From the Bulletin do SUUstlqne, Purls, May. i«as ]
Name of bank.
Germany:
Imperial Bank .
Private (tanks.
Bank of Austria-!! nngar
National Bank of Belgium. . . .
National Bonk of Bulgaria
National Bank of Denmark
Bank of Spain...
Bank of France ...
National Bonk of Greece...
Italy:
Bank of Italy. .
Bank of Nar ’
. — k of Naples . .
Bank of Sicily...
Bank of Norway .
Bonk of the Neihcrlaiuls.
Bank of Portugal . .
National Bank of Roumauia
United Kingdom:
Bank of England
Banks of Scotland. ....
Banks of Ireland
Bank of Russia..
Bank of Finland . . '
National Bank of Servin'
Royal Bank of Sweden. .
National Bank of Switzerland.
Swiss banks of issue . .
Imperial Ottoman Bank *
United States national banks c
i^'k“rnjv.'S!nOI,orac“0,A'emu"‘
Bank of Algeria.! i;;;";-. .
MetalUo
Analyses of the reserve. a
nwerve.
Gold.
Silver.
Francs.
1,088,600,000
Francs.
Francs.
72,700.000
1,407,600.000
150,800,000
i, 160, 800. 000
327.800,666
40, 400.000
95,900.000
24.ino,ttJO
95.900,000
16,300,000
1,045,100.000
3,672.400.000
3,000,000
387.800,000
2,764,600,000
657.300,000
907,900,000
KlaeS!
illsSSS
Iliiiil
895,200,000
184,200.000
50, aw, 000
36.100,000
194.100,000
28,400,000
93, 400. 000
115,100,000
17. 100,000
3.000.000
’“ill. 900. 000
26,500,000
1,800,000
1,019,100,000
1,019. 100,000
137, 500, 000
90. 100 ooo
2.758,900,000
25, GOO. 000
18.20i.000
105, 800.00)
89,700,000
51 . It©. 000
90,900,000
115,200.000
78. 700,000
2,573.900.000
23.000.000
10,700,000
98.300,000
83,900,000
48,600,000
iii§iif§
Sesisisf
954,200.000
628.200,000
391, 800, 000
773, 200. 000
628. 200. 000 .
181,000,000
49.600.000
Bills payable to
bearer in
circulation.
Francs.
2,227,200,000
176. 400, 000
1,927.100,000
721.100,000
47. *00, 000
106. »0o, 000
1 , 545, .400, 000
4, 724. 400, 000
128,600,000
1.312. 400,000
380,000.000
87.200,000
09. 100, 000
M0, 300,000
383.500,000
259,500,000
700.500,000
167,900, 000
167.000,000
2,830.700.000
96.300.000
33, 500.000
265.700,000
136,500.000
110,500,000
26, 400.000
3,263,500,000
628,200,000
760,500,000
127,300,000
“uLitf rotoSSaT ot “‘*”ls lh' “mpa5l'k"' o'
0 Situation on February 14.
BEPOBT DIBECTOB OP MINT. 253
m ATION OK THE PRINCIPAL Banks OP Isso* ON June 30, 1908.
Name of bank.
Germany:
Bank of the Empire .
Private banks .
Bank of Austria-Hungary .
National Bank of Belgium. .
Notional Bank of Bulgaria .
National Bank of Denmark . .
Bank of Spain .. .
Bank of France
National Bank of Greece.*;
Italr:
Bank of Naples .
■ ' ‘ “lefty...
„ Bonk of Sicily.;
Bank of Norway .
Netherlands Bank .
Bank of Portugal .
National Bank of Roumanla. . .
United Kingdom:
Bank of England .
Banks of Scotland .
Banks of Ireland .
Russia:
Russian State Bank .
Bank of Finland .
National Bank of Servla .
Royal Bank of Sweden .
Switzerland.
Banks of Issue .
Imperial Ottoman Bank* .
United States:
National banks * .
Cash conversion offices of Argentina. . .
Bank of Japan .
Bank of Algeria .
a Situation on May 31.
Metallic
Analyses of the reserve.
Oold.
Silver.
Franc*.
.. 1,289.700.000
Franc*.
Franc*.
1,179,400,000
336, 100,000
111,600,000
.. 1,063,000,000
4,072.500.000
2,900,000
21,400,000
lli.erjo.noo
18,000,000
390,400.000
3,151,400.000
674,600.000
921,100,000
.. 1,006, 500.000
205.800.000
55,900.000
36,100.000
893.800.000
187.900.000
52,500.000
38. 100,000
112,700.000
17,900,000
3, 400,000
301.800,000
50.200.000
91.700,000
194.000,000
28, 400, 000
90,000.000
107,800.000
21.800.000
1,700,000
985,100.000
150.700,000
985, 100,000
.
87,200.000
.
2,884.300.000
25, 100, 001)
16, 300, 000
106, 300,000
2,676,800.000
23,100.000
8,600,000
97,900,000
207.500.000
2,000.000
7,700,000
8.400.000
98.800,000
45,700.000
100,000,000
92,800,000
43,500,000
6.000,000
2,200,000
7,936,200,000 1
964. 1 IX), 000
622.7uo.ruo
306, 700 ooo
> 5. 308, 800, 000 .
803,400.000
622,700,000 .
r 2, 727, 400. 000 4\
160,700,000 :
54,100.000
—
. r
Bills payable to
Franc*.
2, 240, 700, 000
177,900.000
1,977.000,000
719, C00. 000
52. 100,000
180,700.000
1,543.200.000
4.691,700.000
123,500,000
1.371,200,000
375, 100.000
93,100,000
113,500,000
536,100,000
384,100.000
247,600,000
724,800,000
182,700,000
160,500,000
93, 400,000
32,600,000
264,300,000
146, 300,000
99.400,000
24,300, 0QQ
622,700,000
754. 300,000
12,700,000
6 Divided os follows: Reserve funds for the greenbacks, 780,000.000 trenrw rowrinr <mM
008 f™«rtifl”lU* ,D ‘h“ V“UlU °r lh* Tn>“Ury>’ ^^.oro.ouo 5&a^S2S5!
prints, 1.804 .900,000 francs.
* Situation cn Moy 14.
INDEX.
Abyssinia:
Coinage of, 1905 and 1907 .
Adjusting scales, increased capacity and accuracy
Alabama •UCt^°U °f 801(1 Eud silver' 1905* 1906, and 1907.
Production of, 1907, estimate of Director
Alaska: .
Production of, 1907, estimate of Director
Amount and cost of silver bullion purchased for subsidiary' coinage
Appropriations and expenditures . * ^ .
Appropriations and expenditures, Burou of the Mint .
01 g0ld “nd *Uvar of P-^-cing sit™ ,uid T orri.oriW,
Argentina: .
Monetary statistics of .
Monetary system and stock of money of .
Production of gold and silver, 1905, 1906! and 1907 .
Arizona: .
Production of. 1907, estimate of Director .
Arts and manufactures: .
Gold and silver used in United States .
Gold and silver used in the world . . .
Assay Commission . proceedings of . . .
Assay office at Salt Lake City, establishment of . . .
Assay offices, minor, work of. . !!!!!!!!. .
Assay office at New York:
Enlargement of .
Operations of . . ..!."!."!! .
Assets and liabilities, mints and assay offices, J une 30. iotis. . . .....
Australasia:
Coinage of, 1905, 1906, and 1907 .
Monetary statistics of . !!!!!!!!!!!!! .
Monetary system and stock of money of.. . . .
Production of gold and silver, 1905, '1900, and 1907 .
Austria-Hungary :
Coinage of, 1905, 1906, and 1907 .
Monetary statistics of . . .
Monetary system and stock of money of.. . . . ! . .
Production of gold and silver, 1905. 1906. and 1907.
Average, highest, and lowest price of silver .
Average price of oil ounce of gold in London since iffto! . ! .
Average cost of coinage per thousand pieces .
Page.
117
82
118
74
74
20
25
27
74
142
68
118
74
70
73
29
10
53
8
50
100
117
144
68
118
117
147
68
118
24
115
7
B.
Balance of silver bullion on hand June 80, 1908 .
Balances, receipts, and disbursements of gold bullion, mints and assay offices
Bunks of issue, situation of the principal . 3
255
256
INDEX.
Bars, gold:
Exchanged for gold coin .
Furnished for use in the arts since 1880 .
Manufactured at mints and assay offices .
Manufactured at mints and assay offices, tables of .
Belgium:
Coinage of, 1907 .
Monetary statistics of .
Monetary system and stock of money of .
Bigelow- Pratt designs for half and quarter eagle .
Boise assay office, operations of . . .
Bolivia:
Coinage of, 1905, 1906, and 1907 . . .
Monetary statistics of .
Monetary system and stock of money of .
Production of gold and silver, 1905, 1906, and 1907 .
Brazil:
Coinage of, 1906 and 1907 .
Monetary statistics of .
Monetary system and stock of money of .
Production of gold, 1905, 1906, and 1907 .
British Empire:
Coinage of 1905, 1906, and 1907 .
Monetary statistics of. .
Monetary system and stock of money .
British East Indies:
Production of gold, 1905, 1906, and 1907 .
British Guiana:
Monetary statistics of .
Production of gold, 1905, 1906, and 1907 . ..!!!!!!!!!.!..
British Honduras:
Coinage of 1907 .
British India:
Coinage of, 1905, 1906, and 1907 .
Monetary system and stock of monev of .
Production of gold, 1905, 1906, and 1907.. ..
Bulgaria:
Monetary system and stock of money of
Bullion: ^
In mints and aaaay offices June 30, 1908 .
Operations, fiscal year 1908 .
Operations, legal allowance and wastage
Purchased . ~77. . . .
Silver, average, highest, and lowest price .
Silver, batance on hand June 30, 1908 .
Value of silver dollars at average price of silver from i837, table of.
C
California:
Production of, 1907, estimate of Director
Canada: .
Coinage of, 1905, 1906, and 1907 .
Monetary statistics of . . .
Monetary system and stock of money of. . .
Production of gold and silver, 1905, '1906, and 1907.
Cape Colony, monetary statistics of .
Carson mint, operations of . .
Central America:
Monetary system and stock of money of . . . .
eduction of gold and silver, 1905, 1906. and 1907 ’
Coinage of 1907 .
Cyprus: .
Coinage of 1907 .
Charlotte assay office, operations of.!.......” .
Page.
73
72
19
92
117
192
68
6
53
117
158
68
118
117
155
68
118
117
181
68
118
158
118
117
117
68
118
68
65
58
59
10,12
24
23
115
74
117
159
68
118
164
53
68
118
117
117
54
INDEX.
257
Chile:
Coinage of 1905, 190G, and 1907
Monetary system and Block of money if. \* .
Production of gold and silver, 1905, 1906, and 1907
Coinage of, 1905, 1906, and 1907
Monetary statistics of . .
Monetary system and stock of money of
Production of gold, 1905, 1906. and 1907 .
Circulation of money in the United States Juno 30,' i 908*
Cunsufied statement of expenditures .
Coin adjusting scales, increased capacity and accuracy
Coin, subsidiary, cost of silver purchased for . .
Coins, foreign, melted by certain countries.
Corns, foreign, value of .
Coins, l nited States, melted by various countries
Coins, gold, Bigelow-Pratt designs .
Coins, gold, new desif*ns for by St. Gaudena... .
Coins, Philippine, weight and fineness of.
Coinage:
Average cost per thousand pieces .
Dies, life of .
Of gold and silver since 1873, by fiscal vear* .
United Stales, fiscal vear 1908.'. .
United States, 1905, 1906, and 1907 (table)...!.....’.
United States, since 1873, by weight and value .
United States, for Mexico .
United States, for Philippines .
World . . .
World, 1905, 1906, and 1907, table of .
World, since 1873, by weight and value . .
Colombia:
Coinage of, 1900 and 1907 .
Monetary statistics .
Monetary system and stock of money of .
Production of gold and silver, 1905, *1906, and 1907 .
Colorado:
Production of, 1907, estimate of Director .
Commercial value of silver .
Cost of coinage as shown by cost reports .
Cost of maintenance .
Cost of silver purchased for subsidiary coinage .
Costa Rica:
Coinage of, 1905 .
Monetary statistics of .
Course of silver .
Cuba:
Monetary system and stock of money of . .
Cupric chloride, use of, in toughening brittle gold ingots
D.
Danish West Indies, coinage of, 1905 and 1907 .
Dead wood assay office, operations of .
Denmark:
Coinage of, 1905, 1906, and 1907 . .
Monetary statistics of . .
Monetary' system and stock of money of . . .
Denver mint, operations of. .
Deposits and purchases of silver . . . •
Deposits and redeposits of "old and silver bullion and coin, recapitulation
Deposits of foreign gold bullion and coin .
Deposits of foreign silver bullion and coi i . .
Deposits of gold bullion .
64472 — 08 - 17
117
68
118
117
165
68
118
64
28
20
75
77
76
6
5
18
7
7
17
16
117
17
18
17
74
117
75
117
170
68
118
74
24
7
62
20
117
173
24
68
10,83
117
55
117
174
68
47
12
14
II
13
10
258
INDEX.
Deposits of gold and silver—
At mints and assay oflices .
At mints and tuway offices, tables of .
At mints and ai«ay offices since 1873 .
Determinations of low gold contents of Dor£ bullion.
Designs for double eagle and eagle bv Saint-Gaudens .
Designs for half eagle and quarter eagle bv Bigelow-Pratt
Dies used in coinage, life of .
Disbursements, receipts, and balance of gold bullion:
Mints and assay offices . .
Distribution—
Of gold and silver, by States and Territories. . .
Of silver dollars .
Dollar, silver, amount, distribution of . .
Dominican Republic, monetary statistics of. . .
Dor£ bullion, accurate method' for obtaining low jmid » , mu- i-
Dutch East Indies:
Coinage of 1905, 1906, and 1907 .
Production of gold and silver in 1905, 1900, and 1907
Dutch Guiana: •
Production of gold in 1905, 1906. and 1907 .
Earnings and expenditures—
Of Government refineries. . . .
Of mints and a«av offices. .
Table of .
East Indies:
British, production of gold, 1905, 1906 and 1907
Dutch, coinage* of, 1905, 1906, and 1907....
Dutch, production of gold and silver, 1905, 1906. and l'J i;
Ecuador: .
Coinage of, 1905 .
Monetary system and stock of monev of
Production of gold, 1905, 1906, and 1907
Egypt:
Coinage of, 1905, 1906, and 1907 .
Monetary statistics of .
Monetary system and stock of money of.
Elect roly tical refining .
Estimated stock in l nited States and per capita since 1873.
Estimate of Director, of gold and silver product of United States..
Ex« hange of gold bare for gold coins .
Expenditures and appropriations:
Mints and assay offices .
Expenditures, classified statement of .
Experiments to ascertain loss in refining gold and silver by air blast
Exports and imports: J
Exports, net, of U. S. gold coin since 1870
Gold and silver bullion and coin, tables of
Finland:
Mouctarv system and stock of money of.. .
Foreign coins of certain countries, melted. .
Foreign (*oins, value of .
Foreign couutriee, monetary statistics of. ....
Foreign governments, <*oinage for, bv United States
r ranee :
Coinage of. 1905. 1906, and 1907 .
Monetary statistics of .
Monetary system and sun k of roouey of.. !
Production of gold and silver, 1905, *1906. and l»o.
Freight charges on bullion and coin shipments
French Guiana:
Production of gold, 1905, 1906. and 1907 .
1-1
86.88
14
38, 84
5
6
74
24
24
176
38,84
117
118
118
26
28
102
118
117
118
117
68
118
117
176
68
8
66
74
73
25
28
so
(VI
lot
68
75
18
117
192
• X
118
62
118
INDEX.
259
Georgia: ' **"»•••
OenSr^Afttaj" ,#07 ‘*‘i“W “* . 74
Coinage* of, 1905, 1900, and 1907
Germany: . 117
Coinage of, 1905, 1900, and 1907..
Monetary statistics of . [i7
Monetary system and stock oV monev of* ” . . Al
Gold”nM^UCt,0n °f 8014 *nd ailver* 1905, itK*. mid ifl07 . ! jg
A verage price in London since 1870 . 1 1 e
Bars exchanged for gold coin .
Bara manufactured at mint* and amiv offices . JJ
Bara manufactured at mints and a*ay office*, table of... o«>
Bullion deposited at mints and assay office? . l5
Bullion and com deposited at mints' and a*«ay office* since 1873 U
Bullion, redeposits of . .
Bullion, stock of, in Cnited States June 30, 1908 ’
Coin of United Slate* melted by certain countrn**.
Coin, Cnited Sutes, net exports of, since 1870... r,4
Coin of Cnited States in Canada . ]q.
Coinage by the Cnited States for Mexico . jy
Coinage, new designs for .
Coinage of mints ol the world since 1873 . 75
Coinage of mints of the United Stales . . 18
Coinage of the Cnited Stales since 1873 (weighi aud value) . 17
Coinage of mints of Cnited States from their organization (1792). l.iO
Deposits, by weight and value . H
Deposits at mints and a*say offices since 1873 . 14
Deposits at mints and assay offices, table of . . 88
Deposits, foreign . 11
Imports and exports, Cnited Stales coin, since 1870. . . t>4
Movement from the port of New York . 63
Product of mines bv States and Territories. 1907 . 74
Product of mines of Cnited States since 1792 . 118
Product of the world, 1905, 1906, and 1907 . 118
Used for industrial purposes in Cnited Stales — . 70
Used for industrial purposes in Cnited States since 1880 . 72
Used for industrial purposes in the world . 73
Gold and diver:
Approximate distribution by Stales and Territories. . 74*
Bullion in mints June 30, 1908 . 05
Coinage by nutions, 1905, 1906. and 1907, tables of .
Coinage of Cnited Stales (weight and value) since 1873 .
Coinage of the world (weight and value) since 1873 . ... 75
Estimated stock of, since 1873 . 06
Ingots made and condemned . w
Product of the world (weight and value) since 1492 . 121
Used in industrial arts in United States since 1880 . *•.
Government refineries, work of . . .
Great Britain. ,,,
Coinage of, 1905, 1906, and 1907 . . '
Imports and exports of gold and silver bullion and com. M
Monetary statistics of . • .
Monetary* system and stock of money of . ..... — . . Ig
Production of gold and silver, 1905, 1906, and 19g< . DM
Greece: . . ftrj
Monetary statistics of — . . *u
Monetary system and stock of money of. - . . .
Pmductfon of silver, 1901, 1906. and 1907. .
Guiana (British): . . 68
Monetary system and stock of money of. . JIfJ
Production of gold, 1905, 1906, and 1907 .
Guiana (Dutch): 192
Monetary’ statistics of.. ...... . 68
Monetary system and stock of money oE j|g
Production of gold. 1905, 1906, ami 1 '
260
INDEX.
Guiana (French):
Monetary system and stock of money of.
Production of gold, 1905, 1900, and 1907
H.
Haiti
Monetary statistics of .
Monetary system and stock of money of .
Hawaiian silver, recoinage of .
Helena assay office, operations of .
Highest, lowest, and average price of silver .
Honduras:
Coinage of, 1907 .
Monetary statistics of .
Hongkong:
Coinage of, 1905 and 1906 .
Hungary:
Monetary statistics of .
Production of precious metals, 1905, 190C, and 1907
68
118
213
G8
18
54
24
117
214
117
152
118
Idaho: L
Production of, 1907, estimate of Director... 74
Illinois .
Production of, 1907, estimate of Director. ... 74
Imports and exports:
Gold and silver, table of . 104
Of United States gold coin since 1870. ...!!. . 04
Improvement in melting a
India (British): J
Coinage of, 1905, 1906, and 1907 . 117
Monetary statistics . . .>14
Monetary system and stock of money of!.' . “68
indo-china-1011 of 1905> 1906» and 1907. ! ns
Coinage of, 1905, 1906, and 1907. 117
Industrial arts: . '
Gold and silver used in, in United States. . . 70
ingots ^riufe11 n«o0f ?°Id and ?,lv<:r “» iu thc worid . !!!!!!!!!!!!! . 73
Ingots’ Sinri ° °Upr\c chl°nde in toughening gold . 10, S3
& of- 1905, 1906, and 1907 . 117
and stock of money of'.'. . 68
ducUon of gold and silver, 1905, 'l90U, and 1907. 118
Japan: J-
Coinage of, 1905, 1906, and 1907
Monetary Htatintics of .
Pi3no.^ny,f ?n<l of money 'of " ' '
JeacW bam, dejSita o" .”lver' 1905. 1906,"and'l!K)7.
117
218
G8
118
12, 13
Korea: K.
. s
INDEX.
261
aml 30, 1008 .
I’age.
{TKnralW S'alca. J“?o 30, KWH .
uS £ air bl-'' ox peri mom.. . T!
Loss of legal allowance, percentage of .
Loss on sale of sweeps and wastage .
Market price for silver .
Medal department, mint at Philadelphia .
Metal operated upon, wastage and loss. .
Metallic reserve, principal banks of issue .
Metallic stock . .
Metallic stock, ownership of . . .
Melting, percentage of lass in .
Method for obtaining low gold contents in dori* bullion
Mexico: .
Coinage by the United States for .
Coinage of 1905, 190G, and 1907 . ” .
Monetary statistics . . . . . . .
Monetary system and stock of money of _
Production of gold and silver, 1905, 1906, and 1907 ” .
Michigan, production of, 1!K)7, estimate of Director.
Minor coinage of the United States .
Mint of the United States at:
Denver, operations of .
New Orleans, operations of .
Philadelphia, operations of .
Sail Francisco, operations of . .
Mints and assay oflicos, earnings and expenditures of . .
Missouri, production of. 1907, estimate of Director .
Monetary :
Statistics of foreign countries . . .
Systems of the principal countries of the world .
Money in the United States, stock of .
Moneys:
Of the United States, metallic and paper, location of. .
Of the world, stock of .
Montana, production of, 1907, estimate of Director . .
Morocco:
Coinage of, 1905 and 1906 .
Motto, “In God we trust,’’ restored . .
Movement of gold from port of New York . .
Mutilated and uncurrcnt domestic coins transferred and purchased for recoinage.
24
7
58
. 249
65
65
58
84
18
117
221
68
118
74
16,35
47
43
32
38
28
74
79
68
64
66
67
74
117
9
63
11,13
N.
Net exports United States gold coin . 64
Netherlands:
Coinage of, 1905, 1906, and 1907 . “7
Monetary statistics of . . . . “To
Monetary system and stock of money of . r*
Nevada, production of, 1907, estimate of Director .
Newfoundland, coinage of 1907 . . . • - . . 7.
New Mexico, production of, 1907, estimate of Director .
New ( )rieans mint, operations of . . . . o
New York assay office, enlargement of building .
New York assay office, operations of . 227
Nick&dmmX?S^f & diiporin? oi trol.bl-omo oiid«7. ! i ■' •' i ■' i I i ^ «
North Carolina, production of, 1907, estimate of Director .
Norway: , . 117
Coinage of, 1906 and 1907 . 228
Monetary statist ics of . v - • . . . 68
Monetary system and Mock 9^ mony of. . . . n8
Production of silver, 1905, 1906, and 19 . w
Notes of United States outstanding June JO. 1J«8 .
262
irDF.x.
Oregon , production of, 1907, estimate of Director.
Ownership of metallic stork of money .
P.
Panama:
Coinage of, 1905 . . .
Monetary statistics of . - . •- - -
Paper money in circulation in United States June 30, 1908
Paraguay: .
Monetary statistics of .
Monetary system and stock of money of .
Persia, coinage of, 1905 and 1900 . .
Peru:
Coinage of, 1905, 1906, and 1907 .
Monetary statistics of .
Monetary system and stock of money of . .
Production’ of gold and silver, 1905. 1900, and 1907 .
Philadelphia mint, operations of . . .
Philippine Islands:
Coinage by the United States for .
Coinage for, 1905, 1900, and 1907 . . .
Production of, 1907, estimate of Director . .
Porto Rico, production of 1907. estimate of Director .
Portugal
Coinage of, 1905 and 1907 .
Monetary system and stock of money of .
Price of silver . .
Proceedings of the assay commission, 1907 . .
Production of gold and silver:
In foreign countries, tabic of .
In United States, calendar year 1907 .
In United States, 1905, 1906, and 1907 .
In United States since 1792. . . .
hi the world, 1905, 1906, and 1907 .
In the world since the discover)* of America .
Purchase of silver .
117
230
66
230
68
117
117
231
68
118
32
118
74
74
117
68
24
118
73
118
116
118
121
12
Q
Queensland monetary stat istics . 232
Quantity of metul operated upon . . 58
R
Receipts and disposition of gold bullion, fiscal year 1908 . .. 61
Receipts, disbursements, and balances of gold Inillion, mints and assay offices*. 62
Recoinage of Hawaiian elver . 18
Recomage of Philippine coins . . . 15
Recoiuage of standard silver dollars sim*e 1883 . . . 16
Recoinage of uncurrent subsidiary silver . . 16
Recoiuage of the world . 76
Redeposita of gold and silver . . . . . 12, 13
Refineries, Government, wTork of . . . . 19
Refineries earnings and expenditures of . . 26
Refilling by electricity . 8
Refining gold and silver by air blast, experiments to ascertain loss.. . . . 80
Roumania
t Coinage "i 1906 . . 1 17
Monetary system and slock of money of . 68
Russia:
Coinage of. 1005, 1906, and 1907 . 117
Monetary statistics of . 234
Monetary system and stock of money of . 68
Production of gold and silver. 1905, 1906. and 1907 . . 118
INDEX.
263
s.
St. Gaudens designs for gold coinage .
Si. Louis, away office, operation of. .
Salt Lake City, establishment of a.**<ay office at .
San Francisco mint, operations of .
San Marino, coinage of. 1906 .
Santo Domingo, monetary statistics of .
Sarawak, coinage of, 1900 and 1907 .
Scales for adjusting coins, increased capacity and acrurarv .
Seattle assay office, operations of .
Seigniorage on coinage of silver .
Servin:
Coinage of, 1905 .
Monetary statistics of . .
Monetary system and stock of money of .
Production of gold. 1900 and 1907 .
Siam:
Coinage of. 1905. 1906, and 1907 .
Monetary statistics of .
Monetary' system and stock of money of .
Production of gold. 1905, 1900, and 1907 .
Silver and gold:
Bullion in mints .
Coinage of the United States .
Coinage of the United States since 1873 (weight and value)..
Coinage of the United States since organization of Mint .
Coinage of the world .
Deposits and purchases of .
Production in the United States .
Production in the world . - .
Used in industrial arts in the United States .
Used in industrial arts in the world . ••• •••-•. .
Silver coinage by the United States for Mexico and Philippines..
Silver:
Average price of . ..: .
Bars furnished for use in the arts .
Bare manufactured at mints and assay office*. .
Bullion, balance on hand June 30 1908 . .
Bullion on which charge* were collected .
Bullion deposited at mints and assay offices. .
Bullion . highest . lowest and average price oL
Bullion in mints and assay offices June 30, iws -
Bullion, redepoeits of .
Bullion, value of a line ounce... ... . - .
Coinage by the United States for Mexico .
Coinage by the United States for Philippines
Coinage of the United States .
Course of .
Deposits of . . .
Deposits of, since 1885. fine ounces...... .
Dollars, annual average value since issi .
Dollars, distribution of.......... .
Dollars, recoinage of, since 1883... - -
Highest, lowest, and average pnee ot .
Price of . . .
Pmduct of the U nited States. ....... .
Purchases for subsidiary coin, cost oi .
Seigniorage on . .
Subsidiary, rocoinago of. q'"’ "
Used in industrial arts in the United v tates..
Used in industrial arts « the world .
Situation of the principal banks of . .
South Africa: ,
Monetary statistics of. • • •*•••* % *
Monetary ay*tom» ami welt of mono} <*••••
Pagr.
5
55
10
38
117
176
117
82
56
24
117
236
68
118
117
236
68
118
G5
1C
17
130
75
14
116
l, 121
70
73
r, is
24
70
12
23
19
14
24
65
13
115
18
17
16
24
12
15
115
24
16
24
24
116
20
24
16
70
73
249
237
G8
264
INDEX,
South Australia, monetary statistics of .
South Carolina, production of, 1907, estimate of Director .
South Dakota, production of, 1907, estimate of Director .
Spain:
Coinage of, 1905 .
Monetary’ statistics of .
Monetary system and Ptock of money of .
Production, silver, in 1905, 1906, and 1907 .
Standard silver dollars, ivcoinage of .
Statistics of foreign countries .
St. l>ouis assay office, operations of .
Stock and location of the metallic and paper money of the United States .
Stock—
Of gold and silver in the United Stat« since 1S73 .
Of money in European banks .
Of money in the United States .
Of money in the world . .
Straits Settlements:
Coinage of, 1905 and 1907 .
Monetary statistics of . . . ! . !
Monetary system and stock of money of . . ] ] ] ]
Subsidiary’ coin, cost of silver purchased for . .
Summary of operations, mints and assay offices .
Sweeps, sale* of and loos on . ’..]]]]]!!]]!]]]]
Sweden :
Coinage of, 1905, 1906, and 1907 .
Monetary’ statistics of . . ] 1 . L ! ! 1 ] ! 1 ] ] ] ] ] ]
Monetary' system and stock of money of .
Production of gold and silver, 1905, 1906, and 1907. .
Switzerland :
Coinage of, 1905. 1906, and 1907 .
Monetary statistics of . ”!!!!!!!!!!!!”!!!
Monetary system and stock of money of . ].!..*]!.!!!]!!!!!!]]].]].
Paac.
238
74
117
239
68
118
16
142
55
64
66
249
64
67
117
242
68
20
58
60
117
243
65
118
117
192
68
Tables:
Assets and liabilities, mints and assay offices, June 30, 1908..
Average price of an ounce of gold in l^ondon since 1870 .
Bare manufactured .
Coinage of tho United States, authority for coining, changes in weight and
Coinage. United States, by institutions, fiscal year 1908....].......
< oinage, United States, by denominations and value, since i?92
Coinage of various countries, 1905, 1906, and 1907.
Deposits of gold .
Deposits of silver . ]]]]!]]]]]]]]]]] .
Domestic coins for rccoinage . ..].]..]...]
Earnings and expenditures . ! ] ] ! .
Expenditures for supplies . ]...]] .
Gold and silver in transit . [ '
Imports and exports of gold and pilvcr, fiscal year 1908 .
Monetary statistics of foreign countries .
Mutilated and uncurrent domestic coin, obtained by transfer and purchase
lor rtvomape . * 1
Production of gold and silver in United States since 1792
Production of gold and silver in the world, 1905, 1906, and 1907
Production of fold and silver in the world trince 1493
Recoinagea of the United States .
Recapitulation of imports of bullion and coin, 1908 .
Seigniorage on silver .coinage .
Value of a silver dollar annually since 1837 . . ] .
Tasmania, monetarv statistics of .
Tennessee production of, 1907, eetimateof Director .
loxas, production of, 1907, <wtimatc of Director .
Tunis, coinage of, 1905, 1906, and 1907.
100
115
92,94
128
94
130
117
86, 88
90, 92
102
122
113
104
79
98
116
US
121
08
112
114
115
244
74
74
117
INDEX.
265
Daijp.
Turkey :
Coinage of, 1905, 1906, and 1907 '
Monetary statistics of .
Monetary system and stock of’ money . .
J roduction of gold and silver, 1905, 1906, and 1907'
U.
1 ncurrent coins for rcooinage
uSSn“r **'*'•'
Coinage of. 1905, 1906, and 1907
Monetary systems and stock of monev. .
UnitedStetes11 °f ^ and fd,ver’ 1905, 19**5< aildiy07- -
Coinage of, fiscal year. . .
Coinage of, 1905, i906, and 1907’.’ .
Coinage of, since 1873 . .
Coinage since organization of mint . . .
Gold coin in Canada . .
Gold coin melted by certain countries.
Industrial consumption .
Monetary system and stock of money .
Money, metallic and paper, local W of, June 30, 1908
Production, 1907 .
Production of gold and silver since 1792 .
Production of gold and silver, 1905, 1906, and i907. ’’’!
Stock of money in, June 30, 1908 . .
Stock of gjld and silver in, since 1873 .
Use of gold and silver in the industrial arts .
Uruguay:
Monetary system and stock of money of. ......
Production of gold, 1905, 1906, and 1907 .
Utah, production of, 1907, estimate of Director .
V.
Value of foreign coins . .
Value of pure silver in a silver dollar annually since 1837
Venezuela
Coinage of 1905 .
Monetary statistics of .
Monetary system and stock of money of .
Production of gold, 1905, 1906, and 1907. .
Vermont, production of. 1907, estimate of Director
Victorian tanking returns . . . . .
Virginia, production of, 1907, estimate of Director .
W.
Washington, production of, 1907, estimate of Director.
Wastage on bullion operations .
Wastage and loss on sale of sweeps .
World, coinage of . —
Coinage of. since 1873 . . **
Coinage of, 1905, 1906, and 1907... . . - .
Industrial consumption, gold and pilfer °{** • • • - - ■ • ■
Production of gold and silver of. in 1905, 1906, and 190/ .
Production of gold and silver since 1493, table of
Itecoinages of .
Stock of money . - . .
Work of Government refineries . . •-**.•*
Wyoming, production of, 1907, estimate of Director
Weight ana fineness of Philippine coins .
117
246
68
118
. 11,13
98
117
104
181
68
118
16
74, 117
17
130
10
76
70
•*8
66
73
116
118
64
66
70
68
118
77
115
117
247
68
118
74
248
74
74
58
GO
74
75
74, 117
70
11S
121
16, 98
67
74
18
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